NIF turns around $147m loss to post $4.3m profit

The Na­tion­al In­vest­ment Fund Hold­ing Com­pa­ny Lim­it­ed (NIF) has re­versed a $147.4 mil­lion loss record­ed in the first half of 2025, post­ing to­tal com­pre­hen­sive in­come of $4.3 mil­lion for the six months end­ed June 30, 2026.

In its unau­dit­ed fi­nan­cial state­ments, NIF at­trib­uted the turn­around to stronger con­di­tions on the do­mes­tic eq­ui­ty mar­ket.

The val­ue of its in­vest­ment port­fo­lio rose by $72.6 mil­lion, from $7.48 bil­lion at the end of De­cem­ber 2025 to $7.55 bil­lion at June 30.

To­tal in­come in­creased to $73 mil­lion from $71.1 mil­lion a year ear­li­er. Div­i­dend in­come re­mained sta­ble at $59.2 mil­lion, while in­ter­est in­come rose 40 per cent to $11.9 mil­lion, dri­ven by stronger re­turns from Sink­ing Fund in­vest­ments and a high­er av­er­age fund bal­ance.

NIF record­ed a net loss be­fore un­re­alised fair val­ue ad­just­ments of $68.4 mil­lion, com­pared with $69.3 mil­lion in the first half of 2025.

How­ev­er, the com­pa­ny record­ed a net un­re­alised gain of $72.6 mil­lion on its in­vest­ment port­fo­lio, re­vers­ing a $78.1 mil­lion un­re­alised loss record­ed a year ear­li­er.

At June 30, NIF had to­tal as­sets of ap­prox­i­mate­ly $8.2 bil­lion and cash and cash equiv­a­lents of $254.4 mil­lion. Its as­set-to-debt cov­er­age ra­tio stood at 1.84:1, while it main­tained its Cari­AAA cred­it rat­ing.

Chair­man Dr San­dra Sookram said the com­pa­ny al­so met all coupon pay­ments dur­ing the pe­ri­od.

“The Com­pa­ny met all coupon pay­ments due dur­ing the pe­ri­od, in full and on time, and main­tained its Cari­AAA cred­it rat­ing, which sig­ni­fies high cred­it­wor­thi­ness and car­ries a sta­ble out­look,” she said.