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Orient Wealth to open Rs.1 bn initial offer Vote_lcap68%Orient Wealth to open Rs.1 bn initial offer Vote_rcap 68% [ 178 ]
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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Orient Wealth to open Rs.1 bn initial offer

Orient Wealth to open Rs.1 bn initial offer

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Malika1990

Malika1990
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Orient Wealth Limited, a professional fund management company under Janashakthi Limited starts its initial offer tomorrow (06th August 2012) which is open till 04th September 2012 to invest in 100 million Units of three unit trusts at Rs.10 each to collect Rs.1 billion, the company said.

“The minimum required to invest in any of the three plans Orient Retirement Savings Plan, Orient Child education Plan and Orient General Investment is only Rs.10, 000 and multiples of Rs.1, 000 thereafter except under Systematic Investment Plan of which the contributions can be started with a mere Rs.500”, stated the CEO of the company, S Jeyavarman at the launch of the Orient Wealth Fund and Plans held at Galle Face Hotel last week.

Each investment plan offers three options for the investor to choose from based on each one’s risk appetite. “These options under each investment plan have been weighted based on the three Unit Trusts managed by us. They are Orient Guilt Edged Fund which consist of portfolio of government securities, Orient Corporate Debt Fund which consist of corporate debt & asset backed notes and thirdly the Orient Equity Fund which comprise of well diversified portfolio of equity securities listed in the Colombo Stock Exchange (CSE)”, Jeyavarman elaborated.
According to the ‘explanatory memorandum’ the Child Education Plan and the Retirement Plan have a maximum exposure to the CSE up to 40% and the minimum is zero.

According to the 2012 Central Bank annual report, there were Unit Trust (UT) management companies managing 25 funds by the end of 2011 whilst the Net Asset Value (NAV) of UT industry increased by 2% to Rs.23 billion at the end December 2011 from Rs.22 billion as at end December 2010.
http://www.nation.lk/edition/biz-news/item/8954-orient-wealth-to-open-rs1-bn-initial-offer.html

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