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Merchant Bank of Sri Lanka (MBSL) plans to launch equity fund management based on the MBSL Midcap Index with a brisk kick-off as the stock market strives to rebound from the prolonged depression, the company has announced.

Although the market has seen notable volatility, trends show that the market is on the path to recovery. More activity is also expected as the government's efforts on peace negotiations progress and with the widely expected global economic recovery, starting mid-2002.

According to the company, MBSL Midcap stocks have outperformed the market ever since it was introduced. Over the last three years, the Midcap Index has offered an average return of 15 per cent while the All Share Index and Milanka Index offered only four and five per cent respectively. The Midcap offered a 66 per cent return last year.

The Index has declined less in bear markets and substantially outperformed bull markets. The volatility of MBSL Midcap returns has also stayed low. 

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