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| Thursday, 1 January 2004 |
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NAMAL's funds interim results National Asset Management Limited (NAMAL) Managers of National Equity Fund (NEF), NAMAL Growth Fund (NGF) and NAMAL Income Fund (NIF) released the Interim Results of the funds for the first six months ended September 30. The National Equity Fund (NEF) registered 62.2 percent return during the six month period with a closing buying price of Rs 15.30 per unit on September 30, 2003. Fund's net income after tax from shares and fixed income was Rs 13.83 million for the six month period under review. The realised and unrealised gains from investments stood at Rs 552.85 million at the end of September 2003. The total revenue for the period increased to Rs 566.68 million compared to Rs 299.79 million in the same period last year. The NAMAL Growth Fund registered 70.9 percent return during the six month period with a closing unit buying price of Rs 17.64 per unit at the end of September 2003. As a growth fund to generate long-term growth in value, NGF invested mainly in shares with short term money market investments to achieve a risk adjusted return to investors. Fund's net income after tax from shares and other money market placements amounted to Rs 1.17 million. |
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