23 May 2011

Sri Lanka Acuity Partners & Ceylon Guardian Investment Trust to Set up a Firm to Run Mutual Funds

22nd May 2011, www.lankabusinessonline.com

Sri Lanka's Acuity Partners, an investment bank, and Ceylon Guardian Investment Trust is setting up a joint venture firm to run mutual funds (unit trusts), targeting domestic and international markets.

The new firm called Guardian Acuity Asset Management, will launch funds which will invest in equity and fixed income, Guardian said in a statement.

Acuity Partners is a joint venture between Sri Lanka's Hatton National Bank and DFCC Bank. Ceylon ¬Guardian Investment Trust is part of the listed Carsons Cumberbatch group which manages 33 billion rupees including a Sri Lanka country fund based overseas.

"The post war economic development in Sri Lanka will see increasing per capita income and savings rates amongst the people which would translate to a demand of a wide variety of savings and investment options…," the firm said in a statement.

The firm said it wanted to structure investment products to match different risk and return profiles of savers.

Related Info :

NAMAL Acuity Value Fund Declares First Dividends

Guardian Fund Bets on Sri Lanka Banks, Retail, Leisure & Construction Sector Stocks

Sri Lankan Economy Grows Fastest in last Five Quarters. 6.2pct in Last Quarter

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