2010-09-02      Top 10 Index 2334.92 24.58  1.06% YTD 52.07%          ASPI 5785.17 95.10  1.67% YTD 70.88%          MPI 5961.52 52.20  0.88%          Tourism TOP 10 1140.50 18.88  1.68% YTD 0%          Ceylon Index Fund  Create :42.57 /Redeem :40.92          Ceylon Income Fund  Create :11.54 /Redeem :11.54          Ceylon Tourism Fund  Create :11.44 /Redeem :11.02          John Keells Holdings  266.80  1.70  0.64%          Dialog Telekom  10.10  0.10  1.00%          Commercial Bank  187.70  -0.90  -0.48%          HNB  292.10  -1.80  -0.61%          Aitken Spence Holdings  2500.00  0.50  0.02%          Carsons  814.30  42.60  5.52%          Distilleries Company of Sri Lanka  148.40  1.40  0.95%          Asian Hotels & Properties  178.90  3.90  2.23%          John Keells Hotels  20.90  0.20  0.97%          Hayleys  330.00  0.00  0.00%        
Ceylon Index Fund
"A performance of 93.70% as at 31st December 2009"
"The top performing fund in Sri Lanka during 2006 with a return of 49.2%"
The index fund management style eliminates the risk of bias and speculation.
 
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Investment Rationale
The Fund is an "enhanced" Index Fund invested in shares of the 10 companies that comprise the Colombo Top 10 Index (TOP 10 Index), under respective market capitalisation proportions. The TOP 10 index is an In-house Index, covering approximately 34% of the total CSE market capitalisation and is reviewed quarterly by the Investment Committee with transparent selection criteria. The fund aims to follow the market capitalisation proportions of the Index on any given day, while the TOP 10 Index aims to track the performance of the overall stock market (ASPI).

The "Managed" Index Fund Enhancements:
a) Selected on the basis of market capitalisation
b)
A "liquidity test" to qualify for index selection.
c)
Two stocks per sector to ensure diversification.
d)
Maintains 5% in cash as per the SEC liquidity requirement.
e)
Can invest up to 10% in IPO's at the discretion of Manager.
Tax Free
All Capital Gains on units and distributions of the fund are
Dividend Distribution Policy
Distributable income will be derived principally from dividend income received by the Fund. Net income will be distributed annually after satisfying operating fees and expenses of the Fund. Investors have the option to re-invest their annual distribution in units of the Fund.
Risk Factors
Minimum Risk equity portfolio due to the absence of Trading Risk, Speculative Risk or Fund Manager Risk.

Being invested in shares, this Fund carries the risk of capital appreciation as well as depreciation with fluctuations of the TOP 10 Index.

The ten companies included in the Index have sound reputations of good corporate governance and are well researched by analysts to unearth risks and opportunities.

The fund manager's risk is the tracking error, defined as the performance difference between the index and the funds invested in the companies. The regulatory requirement to hold 5% of funds in cash will naturally lead to a performance deviation (tracking error) between the fund and the TOP 10 index.

You can start your investment with only Rs.10,000/-

Fee Structure
Front End Fee : 2%
Management Fee : 1% per annum
Performance Fee : 20% of any excess % in 'net return'* over the growth of the All Share Price Index (ASPI) during each quarter.
Exit Fee : Nil
     
*Net return calculated as increase in Net Asset Value (NAV) + distribution

 
 
 
Index Value Daily Change % Daily Change Monthly
TOP 10 2310.34 -2.75 -0.12% -0.12%
Tourism 10 1121.62 12.90 1.16% 1.16%
ASPI 5690.07 32.06 0.57% 0.57%
MPI 5909.32 20.16 0.34% 0.34%
Index Fund 40.90 -0.05 -0.12% -0.12%
Tourism Fund 11.01 0.16 1.47% 1.47%
Buying Price Selling Price
40.92 42.57