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| Sunday, 25 September 2005 |
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Business |  |
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TransCapital ventures into Ceylon Asset Management Co. Bartleet TransCapital in a joint venture with East India Investment Company (EIIC), has unveiled plans to launch Ceylon Asset Management (CAM) to manage two mutual funds that will introduce unique tax and risk efficient investment products to investors in Sri Lanka next month. The HSBC are the trustees for the two funds. The promoters of the venture said they are confident of Sri Lanka's future as the country emerges as one of the best performing stock markets in a new global environment and regional economic growth led by India. The Ceylon Index Fund will offer investors an opportunity to participate in the 10th leading companies listed on the CSE, via an index selected on the basis of their size and liquidity without the added risk and return of trading and speculation. As our Stock Market grows to pass the Rs. 600 billion market capitalisation mark with the increased participation of foreign investors in the giant IPOs of LIOC and Dialog, Ceylon Index Fund will track the Index by investing in the same proportions of each company in the total Index and be fully invested at all times in conformity with the Investment Strategy stated in the Explanatory Memorandum. Bartleet believes that the Colombo Top 10 Index will also provide a benchmark for investors and fund managers who actively manage their portfolios. The second Mutual Fund, Ceylon Income Fund will offer investors access into sovereign (government) risk investment opportunities in the Treasury Bill market. The funds are designed to offer investors minimal risk and regular income at high interest rates with minimal tax consequences. |
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