NAVF declares Rs 2.50 dividend
|
NAMAL, Executive Director
and Chief Investment Officer Avancka Herat |
NAMAL Acuity Value Fund (NAVF) managed by National Asset Management
Limited (NAMAL), the only Unit Trust listed on the Colombo Stock
Exchange declared a dividend of Rs 2.50 for FY14, up from Rs. 0.50 in
the previous year.
This is due to a sharp increase in earnings for the 12 months ending
March 31,2014 where the Fund's gross income rose by 89.1% YoY to Rs.
202.2 million and total net earnings were Rs.173.9 million.
Executive Director and Chief Investment Officer, NAMAL, Avancka Herat
said that NAVF reported significant income growth due to the timely
portfolio reallocation to equities.
As of March 31,2014, the Fund's equity exposure was at 88.3% with
11.7% invested in debentures, fixed deposits and cash equivalents. The
Fund's top five equity holdings were Asiri Hospitals Holdings,
Commercial Bank of Ceylon, Sampath Bank, Nations Trust Bank and Ceylon
Hospitals. NAVF has outperformed the Colombo Stock Exchange's benchmark
All Share Price Index (ASPI) by 4.62% with year to date return of 23.6%
(August 2014). |
