Union Bank and Namal Fund

Sure N Shot · 1 Union Bank and Namal Fund Fri Apr 01, 2011 11:08 am

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Please see the CSE web link below:
Union Bank acquired 5100000 shares of Namal from Milford Holding.....
http://www.cse.lk/cmt/uploadAnnounceFiles/6731298629830_882.pdf

Share Value (NAVP) in Feb was Rs. 109.63.
(Very under value / Remember........ No broker fee)
All time high was Rs.124. NOW Union Bank - Holding more than 5.1 million shares of Namal Fund.

Normally, Fund Acquisitions by Banks are done after a comprehensive research - it should be extremely positive in future results.
Please correct me if I am wrong. Thanks, Best Regards !

Last edited by Quibit on Tue May 03, 2011 11:30 am; edited 3 times in total (Reason for editing : format condensed)

2011_NewComer · 2 Re: Union Bank and Namal Fund Fri Apr 01, 2011 11:31 am

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Sure N Shot wrote:
Now Trading at 88 levels (Very under value / Remember........ No broker fee)

What do you mean by No broker fee ? please clarify Question

thanks

Sure N Shot · 3 Union Bank and Namal Fund Fri Apr 01, 2011 11:40 am

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Dear New Comer, No Brocker fee means that you don't need to pay brokerage charge for NAVF (both buy/sell). Please consult your adviser. Both side free. Even with the fee, NAVF share has a value at this level. Thanks.

2011_NewComer · 4 Re: Union Bank and Namal Fund Fri Apr 01, 2011 11:57 am

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@ Sure N Shot - Thanks. I didn't know that. Should ask about that from my broker.

Sure N Shot · 5 UNION BANK AND NAMAL FUND Fri Apr 01, 2011 12:52 pm

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Hey NewComer, Didn't you buy at 85-90 levels when I noted? It went up to 95 levels and came back, it would have been disposed day-itself. If you are a long term investor, keep it otherwise wait till it comes down.

salt · 6 Re: Union Bank and Namal Fund Fri Apr 01, 2011 4:37 pm

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Sure N Shot wrote:Hey NewComer, Didn't you buy at 85-90 levels when I noted? It went up to 95 levels and came back, it would have been disposed day-itself. If you are a long term investor, keep it otherwise wait till it comes down.

Does your avator recflect you gender?
( mine - no)

cse.alpha · 7 Re: Union Bank and Namal Fund Fri Apr 01, 2011 4:53 pm

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Just to clarify, the CSE notice of 25/2/2011 (http://www.cse.lk/cmt/uploadAnnounceFiles/6731298629830_882.pdf) refers to the acquisition by UBC of a stake in Namal Asset Management (NAMAL), the managers of the listed Namal Acuity Value Fund (NAVF), among other funds. It does not imply that UBC owns NAVF units directly.

NAVF's performance itself has lagged the market in 2011 - partly due to gains in some illiquid companies in the CSE.

The NAVF net asset value per share (NAVPS) is Rs105-65 as at 31/3/2011 - compared with a NAVPS of Rs109-63 as at 28/2/2011 and Rs103/57 as at 31/12/2010.

NAVF's NAVPS has increased only 2% in 2011, while the All Share Index was up 9% in the first quarter of 2011 - not good for a fund manager.

Sure N Shot · 8 Namal Fund Tue May 03, 2011 10:32 am

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Please see the CSE web link below:
Union Bank acquired 5100000 shares of Namal from Milford Holding.....
http://www.cse.lk/cmt/uploadAnnounceFiles/6731298629830_882.pdf

Net Asset Value (NAVP) fluctuates between 105-120. (Very under value / Remember........ No broker fee)
All time high was Rs.124. NOW Union Bank - Holding more than 5.1 million shares of Namal Fund.

Normally, Fund Acquisitions by Banks are done after a comprehensive research - it should be extremely positive in future results.
Please correct me if I am wrong. Thanks, Best Regards!

Last edited by Sure N Shot on Tue May 03, 2011 10:33 am; edited 1 time in total (Reason for editing : Tech reasons)

innam · 9 Re: Union Bank and Namal Fund Tue May 03, 2011 10:43 am

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Sure N Shot wrote:Please see the CSE web link below:
Union Bank acquired 5100000 shares of Namal from Milford Holding.....
http://www.cse.lk/cmt/uploadAnnounceFiles/6731298629830_882.pdf

Net Asset Value (NAVP) fluctuates between 105-120. (Very under value / Remember........ No broker fee)
All time high was Rs.124. NOW Union Bank - Holding more than 5.1 million shares of Namal Fund.

Normally, Fund Acquisitions by Banks are done after a comprehensive research - it should be extremely positive in future results.
Please correct me if I am wrong. Thanks, Best Regards!

Saying that "Union Bank - Holding more than 5.1 million shares of Namal Fund" is WRONG.

Union Bank DOES NOT own any units in NAVF (as per available information).
Union Bank has taken over NAMAL (who manages the NAVF).....The fact that Union Bank took over NAMAL is neither a positive nor a negative for NAVF.
NAVF's future performance will depend on the performance of the shares that it owns and how well it is managed.

milanka · 10 Re: Union Bank and Namal Fund Tue May 03, 2011 10:45 am

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Previous post dated 1st April:
http://forum.srilankaequity.com/t2378-union-bank-and-namal-fund

Duplicated .

cse.alpha · 11 Re: Union Bank and Namal Fund Tue May 03, 2011 10:46 am

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Just to clarify, the CSE notice of 25/2/2011 (http://www.cse.lk/cmt/uploadAnnounceFiles/6731298629830_882.pdf) refers to the acquisition by UBC of a stake in Namal Asset Management (NAMAL), the managers of the listed Namal Acuity Value Fund (NAVF), among other funds.

It does not imply that UBC owns NAVF units directly.

innam · 12 Re: Union Bank and Namal Fund Tue May 03, 2011 10:46 am

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milanka wrote:Previous post dated 1st April:
http://forum.srilankaequity.com/t2378-union-bank-and-namal-fund

Duplicated .

not only duplicated but manipulative since since CSE.Alpha pointed out the same errors before

Gaja · 13 Re: Union Bank and Namal Fund Tue May 03, 2011 10:49 am

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I think they have to declared the NAV during the course of the day

2011_NewComer · 14 Re: Union Bank and Namal Fund Tue May 03, 2011 10:59 am

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Got the announcement just now

The Net Asset Value of a unit of NAMAL Acuity Value Fund as at 29-04-2011 is Rs.107.19.

Smile

Quibit · 15 Re: Union Bank and Namal Fund Tue May 03, 2011 11:31 am

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duplicate posts merged!!

Sure N Shot · 16 Namal Fund Tue May 03, 2011 11:38 am

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Dear Friends,
NAVP for the month of April was announced (Rs.107.19) - Rs. 1.54 higher than last month - Is it good in fund management under prevailing market?
Please see what is available in the web link;
http://www.cse.lk/cmt/uploadAnnounceFiles/6731298629830_882.pdf
we wish to inform that Milford Holdings (Pvt) Ltd transferred 5,100,000 shares held by them in NAMAL to Union Bank Colombo Ltd, for a consideration of Rs . 331,500,500
ANIL AMARASURIYA
DIRECTOR/CEO
Union Bank Colombo

CSE Today · 17 Re NAVF - BUY/SELL Tue May 03, 2011 1:18 pm

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Sure N Shot wrote:Dear New Comer, No Brocker fee means that you don't need to pay brokerage charge for NAVF (both buy/sell). Please consult your adviser. Both side free. Even with the fee, NAVF share has a value at this level. Thanks.

You are wrong.....Brokerage is applicable on both ways on NAVF.... I did buy on 01st OCt 2010 & also sold on 13th Jan 2011 I paid brokerage +CDS fees+CSE fees+SEC fees+STL both ways [have the copies of bought notes & sold notes with me]

Pls do not try to be smart, self determined expert & drag newcomers into trouble also cross check before you submit a post or a comment hence newcomers are learning lot of things re stocks from these forums & if you give incorrect information these people will get in to trouble & also if they are to talk of stocks at a gathering or a meeting ...they ll become jokers for the reason of getting false information from people like you...

Sure N Shot · 18 Re: Union Bank and Namal Fund Tue May 03, 2011 1:50 pm

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I don t want to waste my time. Please check with your broker firm / adviser - if you don t know facts properly.
For NAVF transations - No Brokerage or Gov Cess.
If you have been charged, please complain it to the CSE in writing, or check with proper people, and get a proper orientation before being too smart. Thanks.

duke · 19 Re: Union Bank and Namal Fund Tue May 03, 2011 3:42 pm

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Example:

Amal, Bimal and Sunil owns a mango plantation. They hire Jayantha to take care of the plantation. So Jayantha waters the trees, put fertilizer, cut the bad trees and plant new trees etc. Mango plantation is doing really great and very profitable. But understand this. Profit goes to Amal, Bimal and Sunil. The caretaker, Jayantha, only gets his salary.

So NAMAL company is Jayantha. Union bank owns shares of Jayantha. Amal, Bimal and Sunil owns the units of different funds managed by NAMAL company. So how much profit NAMAL funds make they only goes to fund unit owners not Jayantha.

smallville · 20 Re: Union Bank and Namal Fund Thu May 05, 2011 8:33 pm

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Sure N Shot wrote:I don t want to waste my time. Please check with your broker firm / adviser - if you don t know facts properly.
For NAVF transations - No Brokerage or Gov Cess.
If you have been charged, please complain it to the CSE in writing, or check with proper people, and get a proper orientation before being too smart. Thanks.

I dont think u get the point here.. Will u understand if I say NAMAL is not NAVF?

Abt that brokering thing, we have to check.. cuz lst August I also had NAVF shares as I can remember I've been charged for both buyn/Sellin too.. I dont think I have my receipts yet.. but wats de reason for not charging?

Fresher · 21 Re: Union Bank and Namal Fund Thu May 05, 2011 9:57 pm

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I do not know but when I first bought NAVF some time back, the costs were very small.
So was my broker firm mistaken? Wink

edit: http://www.cse.lk/static/Trading_TransactionCosts.htm

Last edited by npp on Thu May 05, 2011 10:08 pm; edited 1 time in total (Reason for editing : edited some content)

Sure N Shot · 22 Re: Union Bank and Namal Fund Fri May 06, 2011 2:36 am

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Please check with your adviser.
NAVF is a Fund. That is WHY - No Brokerage.

2011_NewComer · 23 Re: Union Bank and Namal Fund Sat Jun 04, 2011 6:05 pm

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smallville wrote:

Sure N Shot wrote:I don t want to waste my time. Please check with your broker firm / adviser - if you don t know facts properly.
For NAVF transations - No Brokerage or Gov Cess.
If you have been charged, please complain it to the CSE in writing, or check with proper people, and get a proper orientation before being too smart. Thanks.

I dont think u get the point here.. Will u understand if I say NAMAL is not NAVF?

Abt that brokering thing, we have to check.. cuz lst August I also had NAVF shares as I can remember I've been charged for both buyn/Sellin too.. I dont think I have my receipts yet.. but wats de reason for not charging?

It seems what 'Sure N Shot' said about brokerage fees is correct. (I didn't believe it first Smile

)
Recently I bought and sold some NAVF shares and in the email notifications I got, it is showing a very low value for other fees for NAVF shares

Sold 200 @ 85 -> it says
GROSS AMOUNT - 17,000.00
OTHER FEES - 8.50
NET AMOUNT - 16,991.50

Similar for the buy also.

Smile

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Union Bank and Namal Fund

1 Union Bank and Namal Fund Fri Apr 01, 2011 11:08 am

Sure N Shot

2 Re: Union Bank and Namal Fund Fri Apr 01, 2011 11:31 am

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3 Union Bank and Namal Fund Fri Apr 01, 2011 11:40 am

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4 Re: Union Bank and Namal Fund Fri Apr 01, 2011 11:57 am

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5 UNION BANK AND NAMAL FUND Fri Apr 01, 2011 12:52 pm

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6 Re: Union Bank and Namal Fund Fri Apr 01, 2011 4:37 pm

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7 Re: Union Bank and Namal Fund Fri Apr 01, 2011 4:53 pm

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8 Namal Fund Tue May 03, 2011 10:32 am

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9 Re: Union Bank and Namal Fund Tue May 03, 2011 10:43 am

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10 Re: Union Bank and Namal Fund Tue May 03, 2011 10:45 am

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11 Re: Union Bank and Namal Fund Tue May 03, 2011 10:46 am

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