|
|
 |
 |
 |
| Wednesday, 30 July 2003 |
 |
|
 |
Business | |
| News Business Features Editorial Security Politics World Letters Sports Obituaries
|
National Equity Fund records 25.86% return in 2002-3 The flagship National Equity Fund (NEF), a balanced fund managed by National Asset Management Limited (NAMAL) recorded a 25.86% total return to its investors during the year ended March 31, 2003 against a stock market change of 19.7% measured by the All Share Price Index (ASPI) in the same period. "It is a pleasant recovery for the second consecutive year for the fund after a few years of depressed conditions prevailed in the stock market," a press release from NAMAL said. NEF has so far distributed Rs 9.25 per unit to its unit holders by annually distributing dividends out of its realised income. Meanwhile, the managers continued to work on structuring an efficient portfolio consisting value oriented shares for growth. The investment strategy adopted by the Managers in selecting stocks paved the way to achieve growth in this period. Managers increased the exposure to the stock market from 73% at the beginning of the year to 78% by March 2003. The increase in exposure to stocks was carried out while assessing the potential risks to investments, in the capital market due to internal and external factors. The increase in stock value and appreciation of bond values due to the decline in interest rates, helped the fund to out perform the stock market. "Furthermore the improved stock market condition in the last three months ending June 2003 has substantially increased the unit value of the fund thus enhancing the overall returns to the investors in NEF". The unit buying price of NEF improved by 47.5% from Rs. 9.43 on March 31, 2003 to Rs 13.91 at the end of June 2003," the release said. |
|
News | Business | Features
| Editorial | Security
Produced by Lake House |
