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Namal Fund Family - NAMAL Flexi Income Fund -
Initial Public Offer Closed |
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Fund Type : |
Close Ended Income Fund |
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Maturity Period : |
Two Years |
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Investment Focus : |
Fixed Income Securities |
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Trustee : |
Deutsche Bank AG |
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Manager's Selling Price (Rs.) : |
10.14 as on 2/29/2008 |
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Manager's Buying Price (Rs.) : |
10.14 as on 2/29/2008 |
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Fund Objective |
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The objective of the NAMAL Flexi Income Fund is to
- Preserve Capital
- Maximize Current Income
- Provide liquidity through planned withdrawals
To achieve these objectives the Fund will invest in high quality income producing securities issued by reputed Banks and Companies and the Government of Sri Lanka.
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Asset
Allocation |
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100% in Fixed Income Securities.
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Dividend
Policy |
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Dividends are paid quarterly.
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Minimum
Investment |
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Rs.
10,000/= |
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Fees/
Charges |
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The Fund attracts a management of 0.5% based on the net asset value of the investment.
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Liquidity /Withdrawals |
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A maximum of 50% of the initial capital invested can be withdrawn on pre announced dates.
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Performance |
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Read Explanatory Memorandum |
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NAMAL FLEXI INCOME FUND - A new investment plan for the discerning investor |
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Sri Lanka’s first Close ended Fund
Managed by National Asset Management Limited
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National Asset Management Limited (NAMAL), the pioneer fund management company in Sri Lanka, now offers you the NAMAL Flexi income Fund ▬ a unique opportunity to plan your investment for a fixed period of time.
“Income Plus” the first investment scheme under the NAMAL Flexi Income Fund will have a maturity period of two years and intends achieving three key objectives for the investor:
- Preserve capital
- Maximise current income
- Provide liquidity through planned withdrawals
To achieve these objectives for your investment, the Fund will invest in high-quality, income-producing securities issued by reputed Banks and Companies, and the Government of Sri Lanka.
Quarterly Dividends
The Fund will distribute four dividends a year, providing regular current income to the investor on a quarterly basis.
Tax-free Income
Dividends from the Fund are currently exempt from taxes. This important feature offers substantial tax savings, especially to corporate investors. However, due to the uniqueness of each organisation, we recommend that corporate investors consult their tax advisors.
Low Cost
Management fees charged on the NAMAL Flexi Income Fund are kept low, in order to optimize returns to the investors.
Liquidity
Although traditional close ended funds do not permit capital withdrawals, during the funds fixed period of existence, “Income Plus” provides you the facility of withdrawing up to 50% of the initial capital invested on pre announced dates.
Convenience
Investments in the NAMAL Flexi Income Fund will be in scripless form, affording convenience to the investor. A transaction receipt will be issued to acknowledge every investment. A periodic statement of account will enable you to track your investments and reconcile returns from your investments in the Fund.
Regular Information
Regular reports will keep you updated on the Fund's activities and performance. You can obtain up-to-date information by visiting the NAMAL website:
www.namalfmc.com.
Investing in the Fund
The “Income plus” scheme of the NAMAL Flexi Income Fund will officially accept investments commencing 26th February 2007 and close on the 9th March 2007 or earlier if the issue is fully subscribed. No units will be issued after the initial Offer. Each investor will have a unique account opened in the NAMAL Flexi Income Fund.
Initial Public Offer
The “Income plus” scheme will offer 100 million units at Rs 10/- per unit during the Initial offer to the public.
Minimum Investment
Initial investments in the Fund will be Rs 10,000/- and multiples of Rs 1,000/- thereof.
Management of the fund
The Fund will be managed by NAMAL, which has over fifteen years of unsurpassed experience in managing funds in our fixed income market. NAMAL has the necessary expertise to exploit opportunities in a volatile interest rate environment, and to pick the right combination of money market instruments. NAMAL will seek to identify high yielding investment opportunities in the corporate debt market, which will help to increase the value of the Fund.
NAMAL currently manages the National Equity Fund, NAMAL Growth Fund, NAMAL Income Fund, NAMAL Money Market Fund and also manages private portfolios for Provident funds and Corporates on a discretionary basis
Manager & Registrar
National Asset Management Ltd (NAMAL) will be the Manager and Registrar to the Fund. NAMAL is the pioneer in the fund management industry in Sri Lanka, and has a wide spectrum of funds and portfolios under its management. NAMAL is licensed by the Securities & Exchange Commission of Sri Lanka (SEC) to operate and manage unit trust funds and portfolios.
Trustee & Custodian
Deutsche Bank AG will act as the Trustee & Custodian to the NAMAL Flexi Income Fund. Deutsche Bank has wide experience in providing Trustee and Custodial services, both internationally and locally, acknowledged as the best custodian bank by “Global Custodian”.
You can collect a detailed prospectus of the NAMAL Flexi Income Fund and application forms from the NAMAL office,
National Asset Management Limited (NAMAL)
73 W.A.D. Ramanayake Mawatha,
Colombo 2.
Tel.: 011-2445911
Fax: 011-2445903
E-mail: info@namalfmc.com
Website: www.namalfmc.com
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