NAMAL’s equity funds shine in 2012

Tuesday, 26 February 2013 00:00 - - {{hitsCtrl.values.hits}}

The National Equity Fund and NAMAL Growth Fund, equity unit trusts managed by National Asset Management Limited (NAMAL), have outperformed market indices and benchmark competition for 12 months ended 31 December 2012 according to data published from the Unit Trust Association of Sri Lanka.

The flagship National Equity Fund (NEF) launched in 1991 outperformed the CSE All Share Price Index (ASPI) by 7.23% while NAMAL Growth Fund (NGF) outperformed the ASPI by 5.43%. Both NEF (classified as a Balanced Fund) and NGF (classified as a Growth Fund) were the best performing funds in their respective segments. The excellent performance continued in 2013 with the NEF and NGF appreciating by 6.60% and 5.41% respectively in January 2013.

Avancka Herat, Executive Director and Chief Investment Officer of NAMAL, stated that the funds had outperformed the market and competitors through superior selection of equities and timely reallocation of assets. The Fund’s equity holdings include Asiri Hospitals Holdings, DCSL, CT Holdings, Lion Brewery, Ceylon Hospitals and Central Finance.

NAMAL is Sri Lanka’s first unit trust management company, having commenced operations in 1991, with a 20-year track record of successfully investing in the Sri Lankan equity and debt markets. NAMAL currently operates eight unit trusts including the flagship National Equity Fund and the only listed unit trust. Principal shareholders of NAMAL are Union Bank of Colombo PLC and DFCC Bank PLC.