Unit Trust industry excels
Records high growth:
The Unit Trust industry performed significantly during the fist seven
months of this year. Growth and Balanced funds performed remarkably with
the stock market boom.
Unit Trust Association of Sri Lanka statistics revealed that all
Growth and Balanced funds recorded over 40 percent growth during this
period. Growth and Balanced funds invest in the equity market and the
boom in the Colombo Stock Exchange (CSE) resulted in this significant
When considering the CSE All Share Price Index (ASPI) which
rerecorded a 52.45 percent growth, some funds recorded a over 50 percent
growth. Growth funds Ceybank Century Growth, Eagle Growth Fund and NAMAL
Growth Fund recorded 61.92 percent, 53.93 percent and 48.95 percent
growth during the period. In Balanced funds category Ceybank Unit Trust
recorded a 57.72 percent growth while Comtrust Equity Fund reported
41.89 percent growth and National Equity Fund a 40.75 percent growth.
Pyramid Unit Trust reported a 47.11 percent growth in the Balanced funds
Listed Equity NAMAL Acuity Value Fund reported a 58.05 percent growth
from January to July this year. CEYLON Index Fund also recorded a 30.37
Income funds also showed an over five percent growth during the
period. Income funds which invested in fixed income avenues experienced
a lower growth rate compared to other categories due to the decline in
Money Market funds too recorded an over five percent growth during
the first seven months of this year.
Industry expert said there is a significant increase in the number
investing in Unit Trust funds. The rural community is also interested in
investing in these funds as returns on investment is higher.