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  2014-04-10  Ceylon Index Fund Create: 47.74 / Redeem: 45.93 down    Ceylon Tourism Fund Create: 6.27 / Redeem: 6.03 up    Ceylon Financial Sector Fund Create: 8.28 / Redeem: 7.93 up    Ceylon Income Fund Create: 13.63 / Redeem: 13.63    Ceylon IPO Fund Create: 11.32 / Redeem: 11.09    Ceylon Gilt-Edged Fund Create: 12.65 / Redeem: 12.65    ASPI 6075.05 -8.5 -0.14 YTD: 2.27% down    Tourism TOP 10 801.21 11.42 1.45 YTD: -4.44% up    Finance Top 10 823.84 0.64 0.08 YTD: 18.87% up    Top 10 Index 2561.48 -10.11 -0.39 YTD: 11.95% down    S & P SL 20 Index 3345.00 -0.96 -0.03 YTD: 8.43% down    John Keells Holdings 238.10 -1.8 -0.75 down    Commercial Bank of Ceylon 125.00 -1 -0.79 down    Dialog Axiata 9.10 -0.1 -1.09 down    Aitken Spence Holdings  98.00 0 0    Aitken Spence Hotels Holdings 73.00 1.3 1.81 up    Hatton National Bank 152.00 1.4 0.93 up    Distilleries Company of Sri Lanka  202.00 -1 -0.49 down    Access Engineering PLC 23.00 0 0    The Lion Brewery Ceylon PLC 390.00 0 0    Chevron Lubricants Lanka  273.90 0.4 0.15 up    
Ceylon Financial Sector Fund sec

Ceylon Financial Sector Fund is an open ended sector fund that tracks the performance of 10 selected companies listed on the Colombo Stock Exchange under Bank, Finance & Insurance sector (BFI). The fund invests 95% of its assets in the Finance 10 Index and the balance will be in cash or cash equivalent instruments.

Please click here to view the portfolio summary

During the year 2013, the Ceylon Financial Sector Fund grew by 11.68% as at 31st December, outperforming the BFI Sector Index by 5.78% during the same period.

Investment Rationale
The Fund is an equity fund that invests in shares of the 10 companies that comprise the Finance 10 Index, under portfolio allocations outline below. The Finance 10 Index is a sector Index, covering approximately 84% of the BFI sector market capitalisation and is reviewed quarterly by the Investment Committee with transparent selection criteria.

Index Selection Criteria
a) Selected from the BFI sector on the basis of market capitalization.  
b)
A "liquidity test" to qualify for index selection.
c)
Corporate Governance and risk management.
Risk Factors
a) Exposed to BFI sector stock market risk  
b)
Minimum Risk equity portfolio due to the absence of Trading Risk, Speculative Risk or Fund Manager Risk.
c)
Being invested in shares, this Fund carries the risk of capital appreciation as well as depreciation with fluctuations of the Finance 10 Index.
d) The fund maintains 5% in cash and exposure limits as per SEC requirements.
e) The ten companies included in the Index are well researched by analysts to unearth risks and opportunities.  
Tracking Error
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 limit (15%) will naturally lead to a performance deviation (tracking error) between the fund and the Finance 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.
Exit Fee   Nil
     
*Net return calculated as increase in Net Asset Value (NAV) + distribution
 
Please click to download the Information Memorandum and the Application Form of Ceylon Financial Sector Fund.

 

 
*As per SEC exposure limits.
 
Stocks at a Glance     2014-04-10
Index Value Daily Change % Daily Change Monthly
CIF 46.36 -0.04 -0.09% down 3.57%
CTF 6.09 0.04 0.66% up 2.87%
CFF 8.02 0.03 0.38% up 4.43%
CINF 13.63 0 0% 1.11%
IPO Fund 11.09 0 0% -0.89%
CGEF 12.65 0 0% 0.56%
ASPI 6075.05 -8.5 -0.14% down 2.27%
Tourism 10 801.21 11.42 1.45% up 5.75%
Finance 10 823.84 0.64 0.08% up 3.57%
TOP 10 2561.48 -10.11 -0.39% down 3.78%
S & P SL 20 3345.00 -0.96 -0.03% down 3.44%
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 238.10 851,323,807 202,700,198,447 23.99
Commercial Bank of Ceylon 125.00 779,225,073 97,403,134,125 12.32
Dialog Axiata 9.10 8,143,778,405 74,108,383,486 10.67
Aitken Spence Holdings 98.00 405,996,045 39,787,612,410 13.39
Hatton National Bank 152.00 317,569,919 48,270,627,688 7.41
Distilleries Company of Sri Lanka 202.00 300,000,000 60,600,000,000 7.07
The Lion Brewery Ceylon PLC 390.00 80,000,000 31,200,000,000 4.86
Aitken Spence Hotels Holdings 73.00 336,290,010 24,549,170,730 4.01
Chevron Lubricants Lanka 273.90 120,000,000 32,868,000,000 3.96
Access Engineering PLC 23.00 1,000,000,000 23,000,000,000 3.79
Total     576,420,209,304 91.47