NAMAL Acuity Value Fund (NAVF) - a ten year closed ended Fund declared a dividend of Rs 5 per unit from its net realized income and realized gains for the period ending August 31, 2010, NAMAL said in a press release.
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 on October 12, 2009 and in the secondary market the units gradually picked up from its initial offer value of Rs 50 to Rs 102 per unit on September 21, 2010 This is an increase of 104 percent in this period. Meanwhile, the Net Asset Value (NAV) per unit published by NAMAL on the last business day of each month show a value appreciation from Rs 48.74 at the end of September 2009 to Rs 92.23 at the end of August 2010.
"This dividend amounts to an yield of 10 percent to the original investors who bought units at Rs 50 during the Initial Public offering (IPO) and 4.9 percent for investors who purchase units at the Price of Rs 102 prevailed at the CSE on September 21, 2010," NAMAL CEO S Jeyavarman said. 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.
source - www.dailynews.lk
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