NIF pays out $112.2m to bond holders

The National Investment Fund Holding Company Ltd (NIF) has paid out $112.2 million to bond holders in its fifth distribution interest payment on February 9.

Since the fund’s inception in July 2018, total interest payments have totalled $561 million to its more than 7,500 investors.

The next semi-annual interest payment will be made on August 9. The NIF paid out an equivalent amount last August.

In a statement published in the press, the NIF noted that, notwithstanding the economic and social challenges being posed by the covid19 (pandemic), the value of the fund’s portfolio was $9.33 billion, “which was an increase of $1.33 billion over its mid-2018 established portfolio.” This is less than the fund’s $9.4 billion value reported six months ago.

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.

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.