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| Sunday, 10 February 2002 |
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| News Business Features Editorial
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80 cents dividend from NAMAL Income Fund NAMAL Income Fund (NIF) has declared 80 cents per unit for the second half of the year ended December 31, 2001. "Investors who receive cash dividends and wish to reinvest their dividends in the fund can instruct NAMAL in writing to automatically reinvest in the future as well" said S. Jeyavarman, Chief Executive Officer of National Asset Management Ltd. (NAMAL). NIF invests money collected from its investors in Government treasury bills and bonds, selected bank deposits and selected short and medium-term corporate paper. The Fund's ability to invest in a broad category of interest generating instruments has enabled the fund managers at NAMAL to take advantage of the high interest rates which prevailed during the first half of last year. Mr. Jeyavarman said: "NAMAL Income Fund is the only income fund that distributes dividends every six months. It has distributed Rs. 1.60 per unit in the past one year which includes the current dividend of 80 cents." NIF's performance has been consistent with the overall interest rate climate. Further, the Fund offers investors an easy mode of investing whether it is a lump sum or a periodic savings arrangement. This product is suitable for those who wish to save for their child's future education needs or are considering a retirement plan. "We have many flexible features within the scheme such as being able to pledge the investment as collateral to obtain bank loans," he further added. At the end of December 2001, the income fund had invested its funds in treasury bonds and repurchase agreements upto 41 per cent, corporate debentures 54 per cent and the balance in the money market.Historically NIF has been paying increasing dividends year after year and half yearly income distribution has given regular cash returns to the investors. NAMAL Income Fund is managed by NAMAL, the unit trust manager. Deutsche Bank acts as trustee and custodian for the Fund. "As managers of this fund, we continuously look for investment opportunities to enhance returns while ensuring the Fund is stable and it performs at a low risk level," said P. Samarasekera, Fund Manager at NAMAL. NAMAL has completed 10 years in performing professional fund management services in the country. It also manages National Equity Fund, NAMAL Growth Fund and NAMAL Optima Fund. NAMAL offers many products to suit the varying investment needs of investors. NAMAL is owned by the DFCC Bank, People's Bank, Employees Trust Fund Board and the Asian Development Bank. |
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