Govt appoints Muhammad Asad as MD of National Investment Trust

July 07, 2026(MLN): The federal government has appointed Muhammad Asad as Managing Director of National Investment Trust Limited (NITL), Pakistan's oldest and largest asset management company, for a three-year term, according to a Ministry of Finance notification dated July 6, 2026.

The appointment stems from a Federal Cabinet decision in Case No. 464/Rule-19/2026/521, dated June 24, 2026, and has been made under Section 187(4) of the Companies Act, 2017, read with Article 89 of NITL's Articles of Association. 

The notification, issued by Asad Iqbal, Section Officer (Inv-III) at the Ministry's Investment Wing, was addressed to NITL's Company Secretary, with copies marked to senior officials in the Finance Division.

Muhammad Asad joins NITL from Al Meezan Investment Management Limited, where he has served as Chief Investment Officer and is currently marking 25 years with the firm.

In that role, he has been responsible for managing and overseeing funds exceeding Rs 700 billion (US$2.5 billion), while also serving as second-in-command at the company with additional oversight of Shariah compliance and a seat on its Investment Committee.

He brings more than 30 years of experience across capital markets, investment banking, insurance and commercial banking at leading local and multinational institutions. 

Prior to Al Meezan, Asad was a fund manager at State Life Insurance Corporation of Pakistan, the country's largest insurance corporation, and earlier held a credit and marketing role at Habib Metropolitan Bank.

He holds a degree from the Institute of Business Administration (IBA), University of Karachi.

NIT is Pakistan's oldest mutual fund and a key institutional investor in the Pakistan Stock Exchange.

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