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NIF pays out $112.2m to bond holders
Wednesday 10 February 2021
Republic Bank branch in Rio Claro. The National Investment Fund holds a more than 50 per cent shareholding in Republic Financial Holdings Ltd. File photo -
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.