NEF declares higher dividends for CY14

National Asset Management Limited (NAMAL) paid a dividend of Rs.1.50 per unit to Unit holders of the flagship National Equity Fund (NEF) for the year ended March 31, 2015.

Executive Director and Chief Investment Officer, NAMAL, Avancka Herat said, "NEF generated a return of 33.3% in CY14, outperforming the CSE All Share Price Index (ASPI) by 9.93%. The equity market benefited from sound economic fundamentals, political stability, strong corporate earnings and positive direct inflow by foreign institutional funds and enabled NAMAL equity funds to deliver superior returns to its investors". He said that the fund has now achieved an impressive long-term track record over the past 23 years with a CARG of 15.44% (on a dividend reinvestment basis) since its inception in December 1991.