Ceybank to launch High Yield Fund today

Tuesday, 14 November 2017 00:00 - - {{hitsCtrl.values.hits}}

Ceybank Asset Management Ltd. is launching its latest money market fund, Ceybank High Yield Fund, today, 14 November.

The fund is designed with features of a money market fund and intends to enhance returns by investing in investment grade corporate debt securities.

The Initial fixed offer period of Rs. 10per unit will remain until 30November. Further, income from unit trusts are free of tax in the hands of the investor, which further enhances investment returns. Investors can also withdraw their funds at the prevailing price on any market day, providing liquidity conveniently.

Ceybank Asset Management is a leading Sri Lankan asset management company incorporated in 1991. The company has the backing of four strong institutional shareholders namely Bank of Ceylon, Sri Lanka Insurance Corporation, Unit Trust of India and Carson Cumberbatch PLC.

The company is involved in advising and structuring unit trust funds and investment portfolios both in equities and fixed income for clients to access the Sri Lankan capital market.

Ceybank AML is licensed and regulated by the Securities & Exchange Commission of Sri Lanka (SEC) to manage unit trusts and investment portfolios.At present Ceybank AML manages six unit trust funds namely, Ceybank Unit Trust, Ceybank Century Growth Fund, Ceybank Savings Plus Money Market Fund, CeybankSurakum Fund and Ceybank Gilt Edge Fund A Series and B Series.

The National Savings Bank (NSB) acts as the Trustee whilethe custodian function is done by Bank of Ceylon (BOC) for all unit trust funds.