NAMAL Acuity Value Fund declares Rs. 2.50 dividend
View(s):The NAMAL Acuity Value Fund (NAVF) managed by National Asset Management Ltd (NAMAL), the only Unit Trust listed on the Colombo Stock Exchange, has declared a dividend of Rs 2.50 for FY2014, up from Rs. 0.50 in the previous year.
This is resulting from a sharp increase in earnings for the 12 months ending 31 March 2014 where the Fund’s gross income rose by 89.1 per cent YoY to Rs.202.2 million and total net earnings were at Rs.173.9 million, the unit trust announced on Monday.Avancka Herat, Executive Director and Chief Investment Officer of NAMAL, said that NAVF was able to report a significant income growth due to the timely portfolio reallocation to equities. As of 31st March 2014, the Fund’s equity exposure was at 88.3 per cent with 11.7 per cent invested in debentures, fixed deposits and cash equivalents. The Fund’s top five equity holdings were Asiri Hospitals Holdings, Commercial Bank of Ceylon, Sampath Bank, Nations Trust Bank and Ceylon Hospitals during the same period.
NAVF has outperformed the Colombo Stock Exchange’s benchmark All Share Price Index (ASPI) by 4.62 per cent with year to date return of 23.6 per cent (August 2014).