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Wednesday, October 6, 2010

NAMAL Acuity Value Fund – Declares First Dividend of Rs.5 per Unit

NAMAL Acuity Value Fund (NAVF) – a ten year closed ended Fund declares a dividend of Rs.5/- per unit from its net realised income and realised gains for the period ending 31st August 2010, a press release from NAMAL Stated.

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 12th October 2009 and in the secondary market the units gradually picked up from its initial offer value of Rs.50.00 to Rs 102/- per unit on 21st September 2010 This is an increase of 104% in this period. Meanwhile, the Net Asset Value (NAV) per unit published by NAMAL on the last business day of each month shown 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 purchased units at the Price of Rs 102 that prevailed at the CSE on the 21st September 2010" said Mr.S.Jeyavarman, CEO of NAMAL.

source - www.island.lk