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| Sunday, 16 March 2003 |
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| News Business Features Editorial
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Eagle Funds declare competitive dividends Eagle Gilt Edged Fund and Eagle Income fund have declared dividends of Rs. 1.04 (10.4 per cent on par value) and Rs. 1.01 (10.01 per cent on par value) respectively, for the year ended December 31, 2002. The time-weighted net returns of the two funds for the period were 12.19 per cent and 10.75 per cent respectively. For the 24-months ended December 31, 2002, the two funds recorded time-weighted net returns of 37.22 per cent and 31.19 per cent respectively. These performances compare well against the current low interest rate environment, a spokesman for Eagle NDB Fund Management Company, which manages both funds, said. The gilt edged fund invests in government securities such as Treasury Bills and Treasury Bonds, seeking to add value to unit holders by taking either long-term or short-term positions, depending on future interest rate expectations. At the same time, it attempts to offer stable returns to investors by managing the price volatility of fixed income instruments. The income fund invests in corporate debt instruments and government securities. It gives investors access to a combination of high-yielding corporate debt investments and government securities. Commenting on the investment environment in 2002, Fund Manager Malinga Arsakularatne said that due to a combination of policy initiatives and high liquidity levels in the market, interest rates declined sharply, and that in such an environment investing through professionally managed portfolios that balance risks and rewards will always be in the long-term interest of investors. Eagle NDB Fund Management Company is a wholly-owned subsidiary of Eagle Insurance Company, a member of Zurich Financial Services Group. The company is one of the largest private sector fund managers in Sri Lanka with Rs. 11 billion of assets under management. The company offers a range of products to its clients including varying investment opportunities for retail clients through the management of four risk-rated unit trusts and a portfolio management service to corporate and high net-worth individuals. It provides total solutions in the management of provident funds, which include the functions of managing the funds, maintaining fund accounts and details of member accounts. |
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