Thursday, 9 January 2014 00:00
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Investment banking institution and strategic corporate solutions provider, Investrust Holdings Ltd., announced the acquisition of Orient Wealth Ltd., a subsidiary of Orient Capital Ltd. The move comes as part of Investrust’s planned expansion as a full-service investment banking company, venturing into investment banking advisory services, wealth management and securities trading. The company also currently holds a boutique investment banking and financial advisory firm, Investrust Capital Ltd.
Orient Wealth is a Securities and Exchange Commission of Sri Lanka (SEC) regulated unit trust management company, which manages Orient Gilt Edged Fund, Orient Corporate Debt Fund and Orient Equity Fund, and is an accredited investment manager approved by the SEC.
“At Investrust we are extremely excited to complete our acquisition of Orient Wealth, as we embark on a strategy to transcend the Sri Lankan investment banking sector and secure the envisaged next level of growth of our company.
This acquisition serves as a significant link in our development roadmap as we forge effective synergies to drive wealth management services across all sectors in Sri Lanka,” said Investrust Holdings Chairman Niranjan Mendis.
Orient Wealth is a Unit Trust Managing Company, and the assets of the Trust are held by the custodian, Deutsche Bank AG.
The interests of the unit holders are protected by the Trustee. Unit Trusts are regulated by the SEC under the SEC Act and the Unit Trust Code.
Investrust’s objective in embarking on a unit trust management operation is to make available professional wealth management services not only to the high net worth corporate entities and individuals, but also to the rural masses of Sri Lanka.
With the development of the Sri Lankan economy and financial markets, numerous opportunities have arisen for above average investment returns.
While the country’s industrialists, businessmen, executives and even farmers are busy contributing to this development, they have limited time to pay attention to such opportunities for the growth of their own wealth.
Investrust envisages expanding focus beyond conventional and traditional investments and returns. With the acquisition of Orient Wealth, the company will be better equipped with the fund base and professional networks to carve out unique opportunities that will benefit high net worth clients and grassroots level Investors to save and grow equally.
Investrust is led by Niranjan Mendis, Chaminda Ranatunga, Sudath Perera, Dilip Kodikara and Ranil Pathirana who serve on its Board of Directors.
