First Capital Wealth Fund outperforms all unit trusts for 5 years ended 31 March

Tuesday, 21 June 2016 00:27 - - {{hitsCtrl.values.hits}}

First Capital Asset Management Ltd., managers of the First Capital Wealth Fund, yesterday announced a dividend of Rs. 100 per unit.

The First Capital Wealth Fund was Sri Lanka’s best performing Fixed Income Unit Trust for calendar years 2013 and 2014. The Fund is also the best performing Unit Trust Fund for the five years ended 31 March 2016 with a compounded annual growth rate of 11.77% over the period (as reported by the Unit Trust Association of Sri Lanka).

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“The Fund operated under difficult capital market conditions in the current financial year. Excess liquidity in the banking system decreased significantly, foreign investors divested from their holdings of government securities, and the external reserves of the country was further pressured by debt service commitments on the country’s foreign debt. These factors combined to significantly increase interest rates during the year. Despite these challenges, the Fund continues to pay an attractive dividend for the year” said First Capital Holdings PLC Chief Executive Officer Dilshan Wirasekara.

“As a fully-fledged Investment Bank specialising in debt market services and prominent 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 Limited 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.