NAMAL’s National Equity Fund surpasses ASPI by over 40%, | Daily News

NAMAL’s National Equity Fund surpasses ASPI by over 40%,

NAMAL’s Director/CEO Rusiru Abeyasinghe
NAMAL’s Director/CEO Rusiru Abeyasinghe

The National Equity Fund, a unit trust managed by National Asset Management Limited recorded a noteworthy performance during 2020 despite the macro economic challenges and outperformed the ASPI of the Colombo Stock Exchange by over 40%.

The fund which is Sri Lanka’s first equity focused unit trust with a track record of over 29 years recorded an impressive return of 14.9% for the year ending 31st December 2020 whereas the ASPI recorded a return of 10.5% during the same period.

Commenting on the performance, NAMAL’s Director/CEO Rusiru Abeyasinghe said “the performance of the National Equity Fund further endorses our cohesive investment philosophy of investing in companies withsound business models, high caliber management and strong medium term growth prospects.”

NAMAL’s investment team is focused on actively managing the equity portfolio of the fund by constantly engaging with management of listed companies and other stakeholders to seek investment opportunities and proactively timing entry to and exit from stocks. The National Equity Fund is a balanced fund which takes a maximum exposure of 80% to the stock market whilst balancing risks via fixed income investments with the remaining 20% of the fund.

National Asset Management Limited is a subsidiary of Union Bank of Colombo PLC and an associate of DFCC Bank PLC.