NEF continues strong fund performance; declares dividends

Monday, 19 May 2014 00:00 - - {{hitsCtrl.values.hits}}

National Asset Management Ltd. (NAMAL) HAS paid a dividend of Rs. 1 per unit to the unit holders of the flagship National Equity Fund (NEF) for the year ended 31 March 2014.

Avancka Herat, Executive Director and Chief Investment Officer of NAMAL, said: “NEF was the best performing fund in the unit trust industry in both FY12 and FY13 with its superior long term track record in the industry. The fund has achieved a CAGR of 15.1% since inception in December 1991 and has generated a return of 38.35% in the last 24 months.” NEF currently has Rs. 2 billion assets under management. NEF has paid dividends annually since inception, at a historical average of Rs 1.20 during the 23 year period, even when equity market performance was weak.

NAMAL is Sri Lanka’s first unit trust management company, having commenced operations in 1991, with a 23-year track record of successfully investing in equities and debt markets. NAMAL currently has Rs. 15 b under management, which includes eight unit trusts and private portfolio management contracts for corporates. Principal shareholders of NAMAL are Union Bank of Colombo PLC and DFCC Bank PLC.