Business Times

Sri Lanka's largest unit trust fund (Rs. 4.9 billion assets) secures Rs 799 mln from capital gains

Ceybank Unit Trust, Sri Lanka's largest equity linked unit trust fund with net assets over Rs. 4.9 million as at end March 2012, has paid a tax free dividend of Rs. 2 per unit to its investors for FY 2011/12, totaling Rs. 346 million, slightly up from Rs. 330 million last year, a company statement said.

Ceybank Unit Trust is an investment opportunity designed to bring the best possible income as well as an appreciable growth while also entitling some Tax benefits. It is managed by Ceybank Asset Management and backed by the Bank of Ceylon, Sri Lanka Insurance, Carson Cumberbatch and the Unit Trust of India. NSB is the Trustee and the Securities and Exchange commision is the regulator of the unit trust industry, the statement said.

"We have capitalized on the volatility of the Colombo Stock Market to realize Rs. 799 million from share trading during the financial year," noted Chitra Sathkumara, CEO/Executive Director of Ceybank Asset Management. "We realized Ceybank's highest ever capital gain of Rs. 1.1 billion during the last financial year," he added.

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