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| Sunday, 17 March 2002 |
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| News Business Features Editorial
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Egale Growth Fund records 46.37 per cent return The Eagle Growth Fund, managed by Eagle NDB Fund Management Company, recorded return of 46.37 per cent on net asset value for the 12-month period ended December 2001. The company could achieve these results by taking advantage of the stock market upturn towards the end of 2001. The Pyramid Fund, also managed by Eagle NDB, made a return of 43.38 per cent. The results have to be viewed against the backdrop of a market return of 38.75 per cent as given by the All Share Index. Senior Fund Manager Namal Kamalgoda said: "A timely and aggressive asset allocation strategy adopted for the funds when equity exposures were reduced to nearly 40 per cent of the fund in response to poor market conditions that prevailed during the year, contributed significantly to this performance. The composition of the portfolio remained in favour of blue chip high market cap stocks, which performed well towards the latter part of the year. Eagle NDB Fund Management Company is a wholly owned subsidiary of Eagle Insurance Company, a member of the Zurich Financial Services Group. The company is one of he largest fund management companies in Sri Lanka with asset worth Rs. 9.8 billion under management. The company offers a range of products to its clients. This includes varying investment opportunities for retail clients through the management of four risk rated unit trust and a portfolio management service to corporate and high net-worth individual. It also provides a total solution in the management of provident funds, which include the functions of managing the funds, maintaining fund accounts and member accounts details. |
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