Sharp increase in NAVF earnings
The NAMAL Acuity Value Fund (NAVF) managed by National Asset
Management Limited (NAMAL), the only listed Fund on the Colombo Stock
Exchange reported a sharp increase in earnings for the nine months
ending December 31, 2012.
The Fund's gross income rose by 94% YoY to Rs 45.8 m and total net
earnings were Rs 52.7 m.
Executive Director and Chief Investment Officer, NAMAL, Avancka Herat
said that NAVF reported significant growth in income due to the timely
portfolio reallocation from equities to high yielding debt and a value
oriented investment strategy.
As of December 31, 2012, the Fund's equity exposure was down to 72%
(vs 80% in FY2011) and the Fund had almost 28% invested in high yielding
corporate paper and cash equivalents.
The Fund's top five equity holdings include Asiri Hospitals Holdings,
DCSL, CT Holdings, Lion Brewery and Ceylon Hospitals.
|