The Investment Committee of Ceylon Asset Management Company has revised the Colombo Top 10 Index and the Tourism Top 10 Index for the 4th quarter of 2010, based on Stock Market valuations as at 30th September 2010.
These two liquid indices are 95% invested (tracked) by the Investment Portfolios of two "enhanced" index funds. The index revisions are as follows.
I) The Colombo Top 10 Index - tracked by the "Ceylon Index Fund"
a. Ceylon Theatres PLC has replaced Hayleys PLC.
b. Aitken Spence Hotel Holdings PLC has replaced John Keells Hotels PLC.
The index companies had a total market capitalization value of Rs. 838 billion as at 30th September covering 36% of the entire market capitalization of the Colombo Stock Exchange (CSE).
II) The Tourism Top 10 Index - tracked by the "Ceylon Tourism Fund"
a. Galadari Hotels PLC has replaced Ceylon Hotels Corporation PLC (CHC) following the CHC being included on the default board of the CSE.
b. Eden Hotels Lanka PLC has replaced Fortress Resorts PLC.
The Tourism Top 10 Companies had a market capitalization value of Rs. 150 billion as at 30th September covering 69% of the entire Hotels and Travels Sector market capitalization of the CSE. The valuation of the Tourism Top 10 Index has improved significantly following the two revisions. The revised indices are listed below in order of Market Cap:
The Colombo Top 10 Index:
* John Keells Holdings PLC
* Dialog Axiata PLC
* Commercial Bank of Ceylon PLC
* Carsons Cumberbatch PLC
* Aitken Spence PLC
* Hatton National Bank PLC
* Distilleries Company of Sri Lanka PLC
* Asian Hotels and Properties PLC
* Ceylon Theatres PLC
* Aitken Spence Hotel Holdings PLC
* The Tourism Top 10 Index:
* Asian Hotels and Properties PLC
* Aitken Spence Hotel Holdings PLC
* John Keells Hotels PLC
* Taj Lanka Hotels PLC
* Galadari Hotels (Lanka) PLC
* Hotel Services (Ceylon) PLC
* Amaya Leisure PLC
* Royal Palms Beach Hotels PLC
* Eden Hotel Lanka PLC
* The Light House Hotel PLC
The companies are selected for inclusion in the indices on the basis of Market Capitalization, Liquidity, Corporate Governance and Risk Mitigation strategies employed by the Investment Committee.
The Colombo Top 10 Index gained 51.62% during the 3rd quarter while the ASPI gained 51.70% and the Milanka Price Index (MPI) gained 43.09% during the same quarter. The Ceylon Index Fund gained 46.94% during the Quarter. The Ceylon Tourism fund meanwhile gained 18.67% during the two months of August and September. The daily fund valuations are published in the Business sections of the daily English language newspapers.
source - www.dailymirror.lk
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