CAL five year optimum fund listed on CSE

From left: Praveen Kanagasabai, Nishok Goonasekera, Dilshan Wirasekara,  Gayan De Silva, Cheryl Pasker,  Renuke Wijayawardhane,  Sharmali Perera and   Malik Jameel.

The captioned units of the CAL Five Year Optimum Fund were officially listed on the Colombo Stock Exchange (CSE) yesterday (1 February). 

Accordingly, 193,904,428 units of the fund were listed by way of an Introduction. This is the first unit listing in over a decade, warranting the occasion to be marked with a special bell ringing ceremony. 

“The CSE has always wanted to encourage the Unit Trust industry because we believe that it is probably the best way to broaden the base of retail investors and an ideal vehicle for investors to enter the exchange. 
“We’ve seen huge growth in the Unit Trust industry, and it’s heartening to know that new funds are coming to the forefront. I believe it will bode well for the industry as a whole,” said Chairman of the CSE Dilshan Wirasekara at the event.

“In terms of trading, the investors of a closed-end fund will be able to buy and sell units based on the market price, similar to a stock. It is an amazing opportunity for investors to use this platform for better portfolio diversification. 

I also believe the launch of this fund will increase the product offerings of the CSE, thereby increasing market participation, which is critical for the development of our capital markets,” said Gayan De Silva CEO of Capital Alliance Investments.

The CAL Five Year Optimum Fund is a closed-end fixed income unit trust scheme with a life span of five (5) years approved by the Securities and Exchange Commission of Sri Lanka (SEC). Capital Alliance Investments Limited has been granted approval by the Commission to establish, manage, operate, and market the fund. 
The fund is set up by a Trust Deed dated June 07th 2023 entered between Capital Alliance Investments Limited and Hatton National Bank PLC as the trustee and custodian of the fund (the “Trust Deed”).