NDB Wealth waives front-end fees on Growth Fund; Growth and Income Fund

Friday, 12 July 2024 01:48 - - {{hitsCtrl.values.hits}}

CEO Ruwan Perera

NDB Wealth Management Ltd., the largest private sector fund management company, recently announced the waiver of front-end fees for its equity funds making it more accessible to retail masses.

Effective immediately, the NDB Wealth Growth Fund will no longer charge the 2% front-end fee on investments. This significant initiative aims to encourage new investments during a critical period of economic recovery.

With domestic markets currently experiencing a recovery, NDB Wealth believes this is an optimal time for investors to consider equity funds. With market interest rates dropping to one-year low levels, investors are seeking tax efficient investments with potential to gain better returns. By waiving front-end fees, NDB Wealth is lowering the cost of entry, thereby maximising potential returns for investors who seize this opportunity.

NDB Wealth Management Vice President Amaya Nagodavithane said: “The NDB Wealth Growth Fund seeks to offer investors convenient access to equity investments through a professionally managed portfolio, requiring a minimum entry of Rs. 5,000, aiming to achieve capital growth on a medium to long term basis by investing in a diversified portfolio of stocks of stable companies with a proven track record.

The removal of platform fees allows investors to allocate their entire investment amount into the fund without losing a portion to front-end fees upfront, resulting in higher growth potential and improving overall cost-efficiency of their investment.

NDB Wealth Management CEO Ruwan Perera said: “At NDB Wealth our team of seasoned fund managers utilises rigorous analysis and strategic investment approaches to navigate market complexities. The removal of front-end fees underscores the brand’s commitment to delivering value and supporting the financial goals of our investors.”