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  2014-04-17  Ceylon Index Fund Create: 48.18 / Redeem: 46.34 up    Ceylon Tourism Fund Create: 6.29 / Redeem: 6.05 up    Ceylon Financial Sector Fund Create: 8.41 / Redeem: 8.06 up    Ceylon Income Fund Create: 13.66 / Redeem: 13.66 up    Ceylon IPO Fund Create: 11.33 / Redeem: 11.10    Ceylon Gilt-Edged Fund Create: 12.67 / Redeem: 12.67 up    ASPI 6180.76 61.91 1.01 YTD: 4.05% up    Tourism TOP 10 794.92 -2.01 -0.25 YTD: -5.19% down    Finance Top 10 841.66 6.05 0.72 YTD: 21.44% up    Top 10 Index 2597.32 8.26 0.32 YTD: 13.51% up    S & P SL 20 Index 3388.02 26.54 0.79 YTD: 9.82% up    John Keells Holdings 238.00 0 0 down    Commercial Bank of Ceylon 127.10 0.1 0.08 down    Dialog Axiata 9.20 0 0 down    Aitken Spence Holdings  98.00 0.1 0.1    Aitken Spence Hotels Holdings 73.50 -0.3 -0.41 up    Hatton National Bank 154.60 2.6 1.71 up    Distilleries Company of Sri Lanka  210.00 5 2.44 down    Access Engineering PLC 23.80 -0.1 -0.42    The Lion Brewery Ceylon PLC 406.00 -1 -0.25    Chevron Lubricants Lanka  273.90 -0.1 -0.04 up    
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.
 
Right click on the graph to view full screen
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 selected by an independent Index Committee, covering approximately 27% of the total CSE market capitalisation of Rs. 2,207,359,792 as at January 11, 2013.
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 3% 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 TAX FREE
 
 
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
 
 
Stocks at a Glance     2014-04-17
Index Value Daily Change % Daily Change Monthly
CIF 46.78 0.39 0.84% up 4.51%
CTF 6.10 0.02 0.33% up 3.04%
CFF 8.15 0.07 0.87% up 6.12%
CINF 13.66 0.02 0.15% up 1.34%
IPO Fund 11.10 0 0% -0.80%
CGEF 12.67 0.01 0.08% up 0.72%
ASPI 6180.76 61.91 1.01% up 4.05%
Tourism 10 794.92 -2.01 -0.25% down 4.92%
Finance 10 841.66 6.05 0.72% up 5.81%
TOP 10 2597.32 8.26 0.32% up 5.24%
S & P SL 20 3388.02 26.54 0.79% up 4.77%
image_of_price_movement
                            
The Colombo Top 10 Index (TOP 10)
Company name Share price No of shares issued Market Capitalization Market Capital %
John Keells Holdings 238.00 851,323,807 202,615,066,066 23.99
Commercial Bank of Ceylon 127.10 779,225,073 99,039,506,778 12.32
Dialog Axiata 9.20 8,143,778,405 74,922,761,326 10.67
Aitken Spence Holdings 98.00 405,996,045 39,787,612,410 13.39
Hatton National Bank 154.60 317,569,919 49,096,309,477 7.41
Distilleries Company of Sri Lanka 210.00 300,000,000 63,000,000,000 7.07
The Lion Brewery Ceylon PLC 406.00 80,000,000 32,480,000,000 4.86
Aitken Spence Hotels Holdings 73.50 336,290,010 24,717,315,735 4.01
Chevron Lubricants Lanka 273.90 120,000,000 32,868,000,000 3.96
Access Engineering PLC 23.80 1,000,000,000 23,800,000,000 3.79
Total     576,420,209,304 91.47