Namal reduces cost to investors

NAMAL Money Market Fund (NMMF), the first and only open ended money market unit trust in Sri Lanka was launched in 2004 to enable corporate entities and individuals to manage their surplus cash effectively in the money market.

Having considered the need to improve the effective return further to the investor and broad base the fund to many corporate entities and individuals across the country, the managers decided to reduce the present fee from 1% per annum to 0.60% per annum which amounts to a reduction of 0.40% per annum.

"The new fee structure will come into force with effect from November 3," stated Chief Executive Officer of NAMAL S. Jeyavarman said.

He said NAMAL's main focus is to provide better investment solutions to wider population in the country. In addition to the return commensurate with the money market rate of interest, investors have the ability to withdraw partly or fully on every working day.