UTMCL launches 'Ceybank Savings Plus Money Market Fund'

Unit Trust Management Co. (Pvt) Ltd (UTMCL), the Manager's of Ceybank Unit Trust Funds, launched its newest investment scheme 'Ceybank Savings Plus Money Market Fund'.

The Fund's investments will be exclusively in fixed income securities such as Treasury Bills, Bonds and Securities issued by Corporates, to provide investors an opportunity to invest their short term cash profitably.

"Our objective is to bridge the gap between savers and investors through this investment product," said Chief Executive Officer of UTMCL, Chitra Sathkumara.

The Fund will pay semi annual dividends to the investors, during January and July, providing regular cash flows. Investors have the option of reinvesting the dividend in the same Fund.

Dividends from the Fund are currently exempt from tax. Capital gains arising from the sale of units are also exempt from income tax. This added to the low fee structure (no entry or exit fee, low management fee) makes it an attractive investment opportunity for investors looking for a secure investment with regular income and liquidity," he said.

Investors can withdraw their funds at the prevailing price on any market day, providing liquidity conveniently.