Strictly speaking, it does not matter what the valuation report states about its NAV. The returns from PGINVIT is obtained from its distribution and not from its NAV. The REPO rate of 6.5% looks like peaking since the last time it was above 6.5% was in 2015 (9 yrs ago). So even now, the pre-tax yield of 12% is significantly higher. When rates come down to nominal 5%, even if distribution comes down by 20%, still PGnvIT gives a 2% yield higher than other risk-free investments.
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