NAMAL assets under management exceed Rs. 15 b

Friday, 28 March 2014 00:00 - - {{hitsCtrl.values.hits}}

National Asset Management Ltd. (NAMAL) announced that Assets under Management surpassed Rs. 15 billion for the first time. “NAMAL is proud to have achieved the Rs. 15 billion milestone by continuing the strong growth momentum witnessed in 2013 based on strong

investment performance and a diverse product portfolio,” stated NAMAL Head of Sales and Structuring Charana Jayasuriya. The flagship National Equity Fund (NEF) was the best performing Unit Trust in both 2012 and 2013. The NEF return of 17.1% in 2013 was the best of the 46 unit trusts in the industry according to data compiled by the Unit Trust Association of Sri Lanka. NEF outperformed the CSE All Share Price Index (ASPI) by 12.30% in 2013 and has delivered an annualized return of 15.1% since inception in 1992. NAMAL secured mandates from HSBC Pension Fund and Allianz Insurance in 2013 and provides discretionary portfolio management services to major international and local institutional investors and high net worth individuals. NAMAL is Sri Lanka’s pioneer unit trust management company, having commenced operations in 1991, with a 22-year track record of successfully investing in the Sri Lankan equity and debt markets. NAMAL currently manages eight unit trusts including the flagship National Equity Fund and the only listed unit trust. Principal shareholders of NAMAL are Union Bank of Colombo PLC and DFCC Bank PLC. NAMAL was recently chosen as the Best Investment Management Company in Sri Lanka at the “Investment Management Awards 2013″ by World Finance, a leading financial publication of World News Media Ltd.