First Capital Wealth Fund best performing fixed income unit trust for second year

Tuesday, 12 May 2015 01:26 - - {{hitsCtrl.values.hits}}

First Capital Asset Management Ltd, managers of the First Capital Wealth Fund, announced a dividend of Rs. 140 per unit.

The First Capital Wealth Fund has been recognised as Sri Lanka’s best performing Fixed Income Unit Trust for 2014 and 2013, as per statistics issued by the Unit Trust Association. With an annualised yield of 15.48% (as of 31 March) the First Capital Wealth Fund, which invests in debt and government securities, declared dividend representing 95.9% of net profit after tax for 11 months ending 28 February.

The First Capital Money Market Fund launched in September 2014 similarly displayed a remarkable performance with an annualised yield of 7.09% (as of 31 March). The fund declared a dividend of Rs. 18.50 per unit. The fund invests in short term fixed income instruments with a maturity for less than a year and paid a dividend representing 95.7% of net profit after tax for six months ended 28 February.

“The successful growth of the unit trust funds under our management is attributed to a tripartite combination of prudent management, an astute assessment of market opportunities and leveraging on interest rate fluctuations,” said First Capital Holdings PLC Chief Executive Officer Dilshan Wirasekara.

“As a fully-fledged investment bank specialising in debt market services and leading non-bank primary dealer in Sri Lanka, we will continue to work closely with our stakeholders to maintain a conducive investment environment and provide competitive returns for our investors. With specialised knowledge and industry expertise garnered through our position and experience in the market, we are confident that the unit trusts managed by First Capital Asset Management Ltd will continue to reap the rewards of timely, well-informed investments,” concluded Wirasekara.

First Capital Asset Management Ltd is a Securities and Exchange Commission approved fund manager. The company specialises in managing investments for high net worth individuals, trusts and companies. The funds are regulated by the Securities and Exchange Commission of Sri Lanka and supported by the Trustee services of the Bank of Ceylon. First Capital Asset Management Ltd is a part of a well-established group with a nuanced understanding of the financial market, enabling it to offer bespoke, intelligent investment solutions for individuals and corporate entities.