Now that consumers are at a dilemma whether to park their money in savings accounts or to stash their cash in fixed deposits (FD) with the current unpredictability in interest rates, the Guardian Acuity Asset Management, (GAAM) has come up with a somewhat satisfactory solution – launching their third fund named GAAM Money Market Gilt Fund, featuring all the benefits of both savings and FD.
This fund would invest in short-term government securities where the risk level was low, according to GAAM Director/CEO, Ruvini Fernando. The company which is a joint venture between Acuity Partners (Pvt) Ltd and Ceylon Guardian Investment Trust PLC has designed this fund to strategically invest in a diversified portfolio of short-term government securities in order to maximize the fund yield for a lower level of risk.
On the sidelines of a media conference to launch this fund, Director Niloo Jayathilaka told the Business Times that with retirement annuities, life policies and fixed deposits, investors must meet specific requirements before they can turn their investment to cash, but with unit trusts they have direct access to the money invested. “Also the best thing about unit trusts is that the investor needs no expert knowledge. The individual doesn’t require experience in buying or selling or any knowledge of shares. Teams of professional economic and market analysts will invest on the investor’s behalf to ensure the maximum capital and income growth,” she said.
The fund’s features include a minimum subscription of Rs 1000, where switching will be allowed where the fund structure will be open ended and where the dividend will be annual.
GAAM General Manager, Mohandas Thangarajah said that this fund is ideal for busy professionals, professionals such as doctors and lawyers, individuals and companies that are barred from actively participating in the stock and bond trading and individuals and companies that seek asset diversification.
The categories which could make use of the fund would be individuals who have retirement savings, saving for specific goals and children’s savings and organizations which have dividend payment funds, debenture redemption fund, building and infrastructure funds, corporate guarantees and liquidity management and private retirement funds.
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This fund would invest in short-term government securities where the risk level was low, according to GAAM Director/CEO, Ruvini Fernando. The company which is a joint venture between Acuity Partners (Pvt) Ltd and Ceylon Guardian Investment Trust PLC has designed this fund to strategically invest in a diversified portfolio of short-term government securities in order to maximize the fund yield for a lower level of risk.
On the sidelines of a media conference to launch this fund, Director Niloo Jayathilaka told the Business Times that with retirement annuities, life policies and fixed deposits, investors must meet specific requirements before they can turn their investment to cash, but with unit trusts they have direct access to the money invested. “Also the best thing about unit trusts is that the investor needs no expert knowledge. The individual doesn’t require experience in buying or selling or any knowledge of shares. Teams of professional economic and market analysts will invest on the investor’s behalf to ensure the maximum capital and income growth,” she said.
Ms. Fernando said that the launch period would extend for a three week period but added, “we have already been assured of a Rs. 500 million investment from top corporate”. She said the vision of the new fund is to enable investors to access capital markets through professionally managed investment funds.
“This fund provides investors access to a diversified portfolio spread across a range of financial instruments and institutions and returns from unit trust are tax free — attractive value proposition for corporate investors.”
“This fund provides investors access to a diversified portfolio spread across a range of financial instruments and institutions and returns from unit trust are tax free — attractive value proposition for corporate investors.”
The fund’s features include a minimum subscription of Rs 1000, where switching will be allowed where the fund structure will be open ended and where the dividend will be annual.
GAAM General Manager, Mohandas Thangarajah said that this fund is ideal for busy professionals, professionals such as doctors and lawyers, individuals and companies that are barred from actively participating in the stock and bond trading and individuals and companies that seek asset diversification.
The categories which could make use of the fund would be individuals who have retirement savings, saving for specific goals and children’s savings and organizations which have dividend payment funds, debenture redemption fund, building and infrastructure funds, corporate guarantees and liquidity management and private retirement funds.
www.sundaytimes.lk
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