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  2014-07-22  Ceylon Index Fund Create: 54.15 / Redeem: 51.97 up    Ceylon Tourism Fund Create: 6.96 / Redeem: 6.70 up    Ceylon Financial Sector Fund Create: 9.40 / Redeem: 9.02 up    Ceylon Income Fund Create: 13.50 / Redeem: 13.50 up    Ceylon IPO Fund Create: 11.47 / Redeem: 11.24 up    Ceylon Gilt-Edged Fund Create: 12.89 / Redeem: 12.89 up    ASPI 6796.37 74.5 1.11 YTD: 14.41% up    Tourism TOP 10  897.04  3.42 0.38 YTD: 6.99% up    Finance Top 10  950.87  10.63 1.13 YTD: 37.20% up    Top 10 Index 2881.49 13.54 0.47 YTD: 25.93% up    S & P SL 20 Index 3789.15 41.68 1.11 YTD: 22.82% up    John Keells Holdings 244.50 -0.5 -0.2 down    Commercial Bank of Ceylon 144.90 3.4 2.4 up    Dialog Axiata 11.00 -0.2 -1.79 down    Aitken Spence Holdings  107.60 -0.3 -0.28 down    Aitken Spence Hotels Holdings 85.10 -0.5 -0.58 down    Hatton National Bank 169.90 0.8 0.47 up    Distilleries Company of Sri Lanka  204.30 -0.6 -0.29 down    Access Engineering PLC 25.50 -0.4 -1.54 down    The Lion Brewery Ceylon PLC 308.00 2.9 0.95 up    Chevron Lubricants Lanka  308 2.9 0.95 up    
Ceylon Tourism Fund sec

Ceylon Tourism Fund invests in 10 of the high performing companies in the Hotels & Travels sector (H&T sector) listed on the Colombo Stock Exchange. The 95% of total asset of the fund will be invested in the selected 10 stocks and the balance 5% will be held in cash or cash equivalent instruments as per SEC requirements.

The selected 10 companies covering over 70% of the H&T sector, Ceylon Tourism Fund is a Fund that has been created to track the performance of this sector.

Investment Rationale
The Fund is an equity fund that invested in shares of the 10 companies that comprise the Top 10 Index , under respective market capitalisation proportions. The TOP 10 Index is an In-house Index, covering approximately 70% of the H&T sector market capitalisation and is reviewed quarterly by the Investment Committee with transparent selection criteria.

The "Managed" Index Fund Enhancements:
a) Selected on the basis of market capitalisation
b)
A "liquidity test" to qualify for index selection.
d)
Maintains 5% in cash as per the SEC liquidity requirement.
e) Can invest up to 10% in H&T sector 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 and realised capital gains 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
Exposed to H&T sector stock market risk

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 TOURISM 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 and single company exposure limits will naturally lead to a performance deviation (tracking error) between the fund and the TOURISM TOP 10 Index.

You can start your investment with only Rs. 5,000/-

Fee Structure

Front End Fee : 2%
Management Fee : 1% per annum
Performance Fee : 0.5% in the event of the net return* of the Unit NAV exceeds 10% during any quarter.
     
*Net return calculated as increase in Net Asset Value (NAV) + distribution
 
Please click to download the Information Memorandum and the Application Form of Ceylon Tourism Fund.

 

 
Stocks at a Glance     2014-07-22
Index Value Daily Change % Daily Change Monthly
CIF 52.52 0.3 0.57% up 7.71%
CTF 6.76 0.06 0.9% up 5.13%
CFF 9.12 0.08 0.88% up 4.95%
CINF 13.50 0.02 0.15% up 1.05%
IPO Fund 11.24 0.08 0.72% up 0.81%
CGEF 12.89 0.01 0.08% up 0.39%
ASPI 6796.37 74.5 1.11% up 6.55%
Tourism 10 897.04 3.42 0.38% up -1.41%
Finance 10 950.87 10.63 1.13% up 4.51%
TOP 10 2881.49 13.54 0.47% up 8.71%
S & P SL 20 3789.15 41.68 1.11% up 7.20%
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 244.50 851,323,807 208,148,670,812 23.99
Commercial Bank of Ceylon 144.90 779,225,073 112,909,713,078 12.32
Dialog Axiata 11.00 8,143,778,405 89,581,562,455 10.67
Aitken Spence Holdings 107.60 405,996,045 43,685,174,442 13.39
Hatton National Bank 169.90 317,569,919 53,955,129,238 7.41
Distilleries Company of Sri Lanka 204.30 300,000,000 61,290,000,000 7.07
The Lion Brewery Ceylon PLC 308.00 80,000,000 24,640,000,000 4.86
Aitken Spence Hotels Holdings 85.10 336,290,010 28,618,279,851 4.01
Chevron Lubricants Lanka 308.00 120,000,000 36,960,000,000 3.96
Access Engineering PLC 25.50 1,000,000,000 25,500,000,000 3.79
Total     576,420,209,304 91.47