NIF pays out $112m to bondholders

The National Investment Fund Holding Company Ltd (NIF) has paid out $112.2 million to its over 7,500 bond holders in its fourth distribution interest payment on August 7. Since the fund’s inception in July 2018 total interest payments have totalled $448.8 million. The next semi-annual interest payment will be made on February 2021.

In a statement published in the press, the NIF noted the value of the fund’s portfolio was $9.4 billion as of June 2020, up from $7.9 billion in July 2018, and $9.2 billion in December 2019.

The NIF is divided into three series – five year bonds, 12 year bonds and 20 year bonds. Bonds are being actively traded on the corporate bond market.

“Notwithstanding the economic and social challenges posed by the covid19 (pandemic), the National Investment Fund is reasonably assured that its well-structured and diversified portfolio would continue to benefit from its solid performance,” statement said.

The NIF is made up of 54.7 per cent Republic Financial Holdings Co Ltd shares; 25.7 per cent Trinidad Generation Ltd shares; 12.3 per cent Angostura Holdings Ltd; 5.1 per cent Witco shares; and 2.2 per cent One Caribbean Media Ltd shares.