Investrust Money Fund exceeds Rs. 300 m target but offer remains open
Friday, 11 July 2014 01:21
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Investrust Wealth Management Ltd., a member of Investrust Holdings Ltd., announced that its ‘Investrust Money’ open-ended money market fund licensed by the Securities Exchange Commission of Sri Lanka (SEC) has substantially exceeded its initial target amount of Rs. 300 million but the initial offer will be kept open till 15 July according to SEC guidelines.
“We are extremely pleased with the confidence and the support shown by the investors for the new fund and also happy that it has influenced many first timers to invest in unit trust industry,” said Nadeesha Pahalavithana, CEO of Investrust Wealth Management Ltd.
Investrust Wealth Management is a SEC-regulated unit trust management company, which currently manages Orient Gilt Edged Fund, Orient Corporate Debt Fund and Orient Equity Fund and is an accredited investment manager approved by the SEC.
Investrust Money Fund is a diverse cash strategy consisting of a portfolio of short-term, high-quality fixed income securities (Government Securities and rated A and above short-term corporate debt). The fund is actively managed to provide a competitive yield, maximise current income and preserve capital, while maintaining daily liquidity in a risk-controlled framework.
The fund’s objective is to consistently outperform the benchmark of monthly weighted average three-month Treasury bill yield. The assets of the Fund are held by the custodian, Deutsche Bank AG. The rights and interests of the unit holders are protected by the Trustee. Unit trusts are duly regulated by the SEC under the SEC Act and the Unit Trust Code.
Investrust Holdings Ltd. (IHL) is a full-service investment banking company that provides investment banking advisory services, wealth management and securities trading facilities. Investrust is led by Niranjan Mendis, Chaminda Ranatunga, Sudath Perera, Dilip Kodikara and Ranil Pathirana, who serve on its Board of Directors.
