Asia Capital Hybrid Fund launched
Asia Wealth Management Company (Pvt) Ltd, a fully owned subsidiary of
Asia Capital PLC today announced the launch of the Asia Capital Sri
Lanka Hybrid Fund in partnership with CD One Limited of Japan, whereby
CD One would set up this fund to promote investments into Sri Lanka.
Asia Wealth Management, which has been appointed the managers of this
pool of funds, is a boutique investment advisory unit under the Asia
Under the agreement a sum of Rs. 1.5 billion will be collected from
Japanese corporates and high net worth individuals based on an
information memorandum prepared by Asia Wealth Management covering the
spheres of private equity, listed equity and fixed income. Hence the
fund would be invested into the Colombo Stock Exchange, potential
private equity projects, treasury bills, bonds and corporate bonds.
In his address Toshiaki Tanaka, CEO, V's Capital said, "The Japanese
public has realized the enormous potential for investment in Sri Lanka
and is very eager to invest. Sri Lanka, with its attractive interest
rates and warm and friendly people, is exactly the kind of market we are
looking for as it mirrors so many of the traits we look for in business
partners. We are very excited about the future and look forward to
working closely with Asia Wealth Management with whom we have an
excellent working relationship."
Speaking about the partnership Saminda Weerasinghe, Director, Asia
Wealth Management said, "We are very pleased to have tied up with CD One
Limited who will be bringing in much money and development to Sri Lanka.
We are proud to play a part in this development process which will see a
large infusion of capital coming into Sri Lanka. Interest rates are very
high at the moment making this the best time to invest into private
equity projects and listed equity due to the attractive valuations. We
have been working very closely with Japanese investors for almost a year
and it has been a most fruitful partnership."
Providing integrated capital markets and advisory services, Asia
Wealth offers innovative solutions, across a wide range of products
including capital raisings, restructurings, project finance, structured
finance, and tailored strategic and financial advice. The company's most
important role however is to exploit synergies between the other three
core holdings of the Group.