‘Unit Trusts record Rs 3.2 m in 17 funds
The Unit Trust industry while celebrating its 17th year in 2008,
recorded Rs 3,242.6 million in 17 funds in the year to December 2008
which are managed by the members of the Unit Trust Association of Sri
Lanka, a media release stated.
This inflow mitigated the impact of the downtrend in the stock market
consequent to the global crisis in the financial markets in general and
stock markets in particular.
As a result the equity funds in the industry contracted in value
during the last quarter of the year. The inflows in to the funds are
mainly attributable to the launch of new close ended gilt funds during
The member companies offer equity, balanced, income, gilt, money
market and index type of funds to the public to effectively plan their
financial needs by selecting appropriate funds.
“The Unit Trusts provide safety through a trustee and custodian
mechanism where the funds are held by a reputed bank in Sri Lanka and
our member companies provide expert management of those funds to achieve
the stated investment objective of each fund”, said President of the
Association S. Jeyavarman.
In 2008, the Colombo Stock Market fell by 40.8% as measured by the
All Share Price Index. The Unit Trust funds which invest in listed
shares in average only suffered 26.3 % in this period.
This illustrates the importance of diversification of investments to
protect our savings from adverse fall of markets. Unit Trust managers
select investments prudently to ensure safety within the regulatory
guidelines for the industry while optimizing the returns to investors.
The general interest rates had been higher in this period and helped
the fixed income investors to generate better returns in a higher
“The Unit Trust funds which invest in pure fixed income instruments
such as government securities, corporate debt and trust certificates
paid good return to investors while providing safety to the capital to
the investors,” he said. Investors in Unit Trusts can enjoy professional
management at low cost and other benefits of liquidity, tax advantage
and diversification of investments.
It is an appropriate investment for small investors, professionals
and others have no time to manage their financial affairs and
institutional investors to enhance their tax adjusted returns.
The Unit Trusts are subject to proper external audit and comes under
the regulatory supervision of the Securities and Exchange Commission of
Sri Lanka. Unit Trusts are required to submit its reports to the
investors every six months.
The investors can invest in open ended Unit Trust Funds on a regular
basis or lump sum at once at the prevailing selling prices and can
withdraw at the prevailing buying price. Most of our funds are for
long-term savings and the facility to withdraw is a feel good feature
Meanwhile, investors can participate in close ended schemes at the
time of Initial Public Offer (IPO), the release stated.
NCCSL mega Ayurveda exhibition in May
The National Chamber of Commerce of Sri Lanka in partnership with
Ministry of Indigenous Medicine and other related government
organizations will hold “Ayurveda 2009” Exhibition from May 23 - 25 at
The National Chamber of Commerce of Sri Lanka held “Ayurveda”
Exhibition and Symposium in 2007 for the first time in Sri Lanka which
was participated by many local and foreign exhibitors from India,
Myanmar, Bangladesh, China, Japan, Pakistan and Germany. At the request
of those participated at “Ayurveda 2007” the Chamber has decided to have
this Exhibition in 2009 as well.
Here the Additional Secretary, Ministry of Indigenous Medicine,
E.M.M.R.K. Ekanayake, Ayurveda Consultant- Dr. Danister L.
Perera, Chairman - Ayurveda Organizing Committee/Deputy
President, NCCSL- Asoka Hettigoda, Minister of Indigenous
Medicine- Tissa Karaliyadda, Consultant, Ministry of Indigenous
Medicine- Jayasiri Mendis and Senior Deputy President, NCCSL Lal
“Ayurveda 2009” Indigenous Healthcare Exhibition is an ideal platform
for everyone involved in Ayurveda and Indigenous medical sector to meet
each other at one platform and exchange their views to enhance their
professional knowledge and increase their businesses for mutual benefit.
Exhibitors representing ayurveda hospitals, ayurveda products
manufacturers, doctors, ayurveda product exporters, importers, ayurveda
related machinery suppliers, ayurvada herbal growers, health food and
beverage manufacturers and tourist hotels that have native treatment
systems are expected to participate at “Ayurveda 2009”.
We are happy that the Ministry of Indigenous Medicine has already
taken several steps to popularize native treatment systems among the Sri
Lankan population and enlighten the public of the specialized treatment
available in the country, an official said.
By conducting Ayurveda 2009 Exhibition, we will make every effort to
publicize our Ayurveda products and services among the population in
foreign countries as well.
There is an increased interest among the population in Western
countries to travel to Sri Lanka and spend time in Ayurveda related
hotels and also to get treatments from Sri Lanka Ayurveda specialists.
We expect to get many delegates from foreign countries so that they can
see for themselves the advanced native treatment methods available in
In concurrent to the Exhibition we will also conduct specialized
seminars addressed by Ayurveda specialists from Sri Lanka and foreign
countries such as India and Japan. These seminars will be an ideal
opportunity for the Sri Lankan Ayurveda Doctors to exchange views with
In addition, a number of sessions will also be held for the benefit
of general public who could get to know the miracles available in the
native treatment sector.
This venture will help us earn foreign exchange and also save foreign
exchange that goes for importation of Ayurveda products. “Ayurveda 2009”
will also help develop the socio economic conditions of the country, the
Ceylinco Radiation Treatment Unit launches IMRT
Intensity Modulated Radiation Therapy (IMRT), a relatively new
technique in Sri Lanka for the treatment of cancer, is now available as
a routine feature at the Ceylinco Radiation Treatment Unit, the
country’s state-of-the-art private radiation treatment facility.
The Linear Accelerator at the Ceylinco Radiation Treatment Unit
This would help hundreds of cancer patients to save substantial
amounts of money that they would normally spend on travelling overseas
for this treatment, the Centre said this week.
IMRT is one of the safest and most advanced radiation therapy
techniques for the treatment of many forms of cancer. It treats the
tumor with precision, thereby reducing harm to the non-cancerous cells.
This treatment enables radiation oncologist to deliver tightly
conforming high doses of radiation directly to the tumor irrespective of
The Ceylinco Radiation Treatment Unit offers IMRT at an affordable
rate significantly lower than rates charged at medical centres overseas,
the Chairman of Ceylinco Healthcare Services R. Renganathan said.
“Offering this treatment as a standard feature demonstrates that our
radiation treatment unit has been brought on par with those in developed
countries,” he said, pointing out that the Ceylinco Radiation Treatment
Unit had performed Sri Lanka’s first ever IMRT in early 2008.
Renganathan added that besides the foreign exchange saving, patients
can undergo treatment in the company of loved ones which could have a
very positive effect on their ability to cope with the disease and the
IMRT is performed by a state-of-the-art Linear Accelerator or Linac
which is the international Gold Standard in the delivery of accurate 3D
conformable and intensity-modulated radiation therapy for the treatment
of many forms of cancer.
The Ceylinco Radiation Treatment Unit was the first medical facility
in Sri Lanka to import a Linear Accelerator.