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Sunday, 28 June 2009

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Stock market performance remarkable after victory

The stock market performance and foreign investment flow have been remarkable following the conducive business environment created with the recent battle victory, said CEO Unit Trust Management Co. (Pvt) Ltd. (UTMCL), Chitra Sathkumara. He said now is the ideal time for long-term investments in a safe and stable financial organisation that offers realistic rewards to its customers.

“The equity markets are on an upward trend after a steep decline last year due to adverse global economic conditions and the security situation in the country. There will be a market surge with an ideal investment climate created in the country”, Sathkumara said.

Investors are seeking secure and rewarding schemes in safe establishments that manage their funds well unlike bogus institutions that offer fancy and unrealistic returns.

The UTMCL recently launched the Ceybank Savings Plus MMF to cater to the growing need for a safe and better return scheme.

The open end income fund was launched to provide investors an opportunity to obtain shorts term cash profitability.

The funds will be invested in Treasury Bills, Bonds and Corporate Securities. “Tax-free with better returns than savings yield and adding value to the capital market of the country are the primary reasons for introducing the company’s fourth trust fund”, the CEO said.

Ceybank Unit Trust is the largest unit trust fund in the country with net assets of over Rs. 2.4 billion.

The growth fund, the Ceybank Century which is the first equity fund has become the largest equity unit trust fund in the country.

UTMCL is an associate company of Bank of Ceylon that offers unit trust funds and fund management services.

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