CAL Five Year Optimum Fund listed on the CSE

From left: Capital Alliance Partners Vice President Praveen Kanagasabai, Capital Alliance Partners CEO Nishok Goonasekera, CSE Chairman Dilshan Wirasekara, Capital Alliance Investments CEO Gayan De Silva, Capital Alliance Investments Assistant Vice President  Cheryl Pasker, CSE Chief Regulatory Officer Renuke Wijayawardhane, CAL Group Chief Risk Officer Sharmali Perera and Capital Alliance Partners Associate Malik Jameel

The captioned units of the CAL Five Year Optimum Fund were officially listed on the Colombo Stock Exchange (CSE) on 1 February 2024. 

Accordingly, 193,904,428 units of the fund were listed by way of an Introduction. This is the first unit listing in over a decade, warranting the occasion to be marked with a special Bell Ringing ceremony. 

The event was attended by Capital Alliance Investments CEO Gayan De Silva, Capital Alliance Partners CEO Nishok Goonasekera, Capital Alliance Investments Assistant Vice President Cheryl Pasker, CAL Group Chief Risk Officer Sharmali Perera, Capital Alliance Partners Vice President Praveen Kanagasabai and Capital Alliance Partners Associate Malik Jameel.

The CSE was represented by its Chairman Dilshan Wirasekara, Chief Regulatory Officer Renuke Wijayawardhane, and the CSE Senior Management. 

Delivering his opening remarks, Wirasekara congratulated Capital Alliance Investments Ltd. and went on to say, “It is indeed a unique day today as we list the CAL Five Year Optimum Fund, the only active listed fixed income closed-end fund available in the Colombo Stock Exchange.”

 “The CSE has always wanted to encourage the Unit Trust industry because we believe it is probably the best way to broaden the base of retail investors and an ideal vehicle for investors to enter the exchange. We’ve seen huge growth in the Unit Trust industry, and it’s heartening to know that new funds are coming to the forefront. I believe it would bode well for the industry as a whole,” Wirasekara added.

Capital Alliance Investments CEO Gayan De Silva said: “It is with great pride that I announce the listing of the CAL Five Year Optimum Fund. At CAL, our entire value system is built upon making sure we enhance the capital markets, and the listing today demonstrates our continuous commitment to be one of the most dynamic fund managers in Sri Lanka. We believe that capital markets act as an intermediary in transferring wealth from financial markets to the real economy, and thereby pushing economies into prosperity.”

 “In terms of trading, the investors of a closed-end fund will be able to buy and sell units based on the market price, similar to a stock. It is an amazing opportunity for investors to use this platform for better portfolio diversification. I also believe the launch of this fund would increase the product offerings of the CSE, thereby increasing market participation that is critical for the development of our capital markets,” he added.

The CAL Five Year Optimum Fund is a closed-end fixed income unit trust scheme with a life span of five years approved by the Securities and Exchange Commission of Sri Lanka (SEC). Capital Alliance Investments Ltd. has been granted approval by the Commission to establish, manage, operate, and market the fund. The fund is set up by a Trust Deed dated 7 June 2023 entered between Capital Alliance Investments Ltd. and Hatton National Bank PLC  as the trustee and custodian of the fund (the “Trust Deed”).