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| Sunday, 29 December 2002 |
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| News Business Features Editorial
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Regulatory framework for managed investments Touchwood Investments Ltd is working with regulatory authorities to establish a framework similar to the way it operates to ensure that only credible companies with the required resources can offer similar investment products to the public. "The establishment of this framework will widen our customer base to include both local and foreign institutions investing in managed investments in Sri Lanka. This industry will generate many employment positions and reap foreign exchange extending into billions, Chairman of the company Roscoe Maloney said. Touchwood has welcomed departments like the Central Bank to investigate its operational system to develop this framework. "The systems we employ have been enacted in many other countries for decades. The product we have developed and marketed is an investment in private forestry; otherwise known as a managed investment. "Managed investments are internationally regarded as one of the most profitable and secure investments available. Often there are many other benefits accruing to the country. The investor in a managed investment owns the company's products and employs the company to manage and maintain it. If the company suffers any financial difficulty, the investor can immediately take possession of the product he/she invested in. The investor is not the last in line for funds distribution. "Conventional methods of share investment or a fixed deposit investor does not have priority in case of a financial disaster. |
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