Friday, February 19, 2010


NAMAL Acuity Value Fund (NAVF), the first close ended fund listed at the Colombo Stock Exchange released its first quarterly report for the period ended December 31, 2009, the press release from NAMAL stated.

A ten year Fund, NAVF was launched by NAMAL together with Acuity Partners in September 2009 to enable investors to profit from Sri Lanka's post war economic resurgence by investing in listed equities and also in listed and unlisted debt securities. It was envisaged that this scheme will provide the convenience and transparency of a managed fund and enable the investors to get the benefit of diversifying their investments across a range of companies and industry sectors through full time investment management provided by NAMAL.

During the period ended December 31, 2009, the fund investment had been increased gradually to 82.5 percent in twelve listed equities while keeping the balance funds in short term fixed income securities.

Overall the unit value increased by 11 percent in this period in comparison to 17 percent increase in the All Share Price Index (ASPI).

In this period, the fund had generated a nett gain of Rs 58.47 million comprising interest income (Rs 3.39 million), realised gains from sale of shares (Rs 4.80 million) and unrealized gain from shares (Rs 50.28 million). At the end of this period the Nett Asset Value of the Fund stood at Rs 582.59 million.

The fund raised Rs 537.5 million (Rs 524.12 million nett of front end fee of 2.5 percent) from investors in the Initial Public Offer.

source -

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