Enill optimistic about NIF

CONRAD Enill, Eastern Credit Union Group CEO and former energy minister, yesterday fully endorsed the National Investment Fund (NIF) from which bonds are being offered to the general public and institutional investors under the direction of Finance Minister Colm Imbert.

“Our organisation is basically supporting an amount in the fund. It creates a return on investment that, at this point in time, few other instruments give you.”

He said the companies which are a part of the NIF may have the usual challenges but can contribute to one’s revenue streams.

Asked if the general public understand the idea behind the fund, Enill said local investors are sophisticated, and know the difference between the fund and stock shares. He said anyone can also seek expert advice from their stockbroker.

Enill said such investments offer a rate of return that is related to one’s ability to take a risk and to wait for a particular period.” The longer the horizon is the more variability there is. No-one can predict.” He said while TT is now is a down cycle, it could increase due to a number of things happening such as sales in the energy sector.

Newsday asked if the Government could have assuaged investor fears by guaranteeing a set return on investment in NIF.

“I don’t think they can. They don’t have control over those companies’ policy and management. These are companies operating in their own right.” He said the NIF will control only part of the shares in an NIF entity such as Republic Bank.

Yet Enill was upbeat on NIF. “Reviewing the companies, one gets the impression that historically those companies have performed well with acceptable rates of dividends.

“That’s how I think investors will have to look at it going in.”

“I think the ordinary public should take a small amount and learn how the business works. You’ll have the info and the knowledge, and be able to come to your own conclusions.”

The NIF is comprised of $4.3 billion in Republic Bank shares, $2 billion in Trinidad Generation Unlimited shares, $970 million in Angostura shares, $405 million in Witco shares and $200 million in One Caribbean Media shares.