Sri Lanka's NAMAL Acuity Value Fund Makes Progress

03rd August 2010, www.island.lk

NAMAL Acuity Value Fund (NAVF), a ten year closed ended Fund launched by NAMAL last year with its units listed on the Colombo Stock Exchange, has made steady progress, it said in a statement issued last morning.

NAMAL has been licensed by the Securities and Exchange Commission to launch and manage the NAMAL Acuity Value Fund, with the objective of investing in listed shares to generate above average return, and when necessary to convert into fixed income securities.

Being a pioneering effort to enable the public to buy and sell units in NAVF through the Stock Brokers, the units were listed at the Colombo Stock Exchange and in the secondary market the units gradually picked up from its initial offer value of Rs.50.00 to Rs 76.00 on June 30, 2010 an increase of 52% in this period.

In the mean time, the Net Asset Value (NAV) per unit published by NAMAL on the last business day of each month shows a value appreciation from Rs 48.74 at the end of September 2009 to Rs.79.61 at the end of June 2010. This works out to 63.3% unit value appreciation during this period the release further stated. During this period the unit price in the stock exchange fluctuated between the low of Rs 44.25 on November 10, 2009 and high of Rs.77.50 on June 23, 2010.

Similar to other forms of Funds offered by the Fund Managers in Sri Lanka, NAVF is an ideal investment vehicle for investors who have less expertise or time to monitor the stock market and listed security valuations to buy units of NAVF to participate in the stock market through a diversified portfolio of investments.

Fund Managers at NAMAL who have been managing the investments over many years monitor related factors and make investments in assets suitable for each fund. They have increased the asset allocation of NAVF towards the equity to gain optimum benefits from the shares of companies which have prospects for growth in the coming years, stated the CEO of NAMAL S.Jeyavarman.

NAVF has invested primarily in leisure, diversified holding and banking sectors and rest in beverages, food and tobacco, chemical & pharmaceuticals, healthcare and manufacturing sectors.

NAMAL is a licensed fund manager pioneered fund management in the industry and instrumental in launching many open ended and close ended schemes in the categories of balanced, growth, income, Sharia complaint, and gilt edged schemes.

More Info:
NAMAL Acuity Value Fund (NAVF)