Karachi: National Investment Trust, Pakistan’s first and largest asset management company has introduced ATM card for its unit holders across the country. ATM card will enable customers to withdraw cash against instant redemption of their NIT units.

NIT was formed in 1962, currently holding assets worth approximately Rs. 82 billion, with around 60,000 unit holders. NIT’s distribution network comprises of 22 branches, 102 Authorized bank branches all over Pakistan. Chairman and MD NIT Wazir Ali Khoja while setting the bench mark in mutual fund industry of Pakistan said NIT has been recognized as the beacon of positive change in the capital markets. NIT has led by example, with an aim to provide the necessary opportunity to all the stakeholders and to contribute towards healthy growth of the industry. The new service will definitely open new doors of convenience for NIT customers by having easy access to their cash 24 /7. Summit Bank President & CEO Hussain Lawai said that “Summit Bank believes in customer satisfaction and is committed to provide innovative solutions to fulfill the financial needs not only of its own customers but also of the community at large”. NIT in collaboration with Summit Bank has introduced ATM card – “Summit Bank-NIT co-branded ATM card”. NIT Unit holders will be able to withdraw cash using the entire Summit Bank ATM Network, or any 1-Link ATM network machines in Pakistan. NIT has five funds including The National Investment Unit Trust (NIUT) which is the Pakistan’s largest and oldest Mutual Fund. NI(U)T-LOC, NIT-State Enterprise Fund (NIT-SEF), NIT – Equity Market Opportunity Fund (NIT-EMOF), NIT Government Bond Fund (NIT GBF) and NIT Income Fund (NIT IF). All the funds under management of National Investment Trust posted good earnings while outperforming their respective benchmarks comprehensively for the quarter ended September 30, 2011. NIT was represented by Wazir Ali Khoja – Chairman and Managing Director, Mr. Manzoor Ahmed – Chief Operating Officer and Syed Zubair Ahmad – Controller of Branches while Husain Lawai – President & CEO, Summit Bank, with other official were also present on the occasion.