The Firm recently had the privilege of representing Capital Alliance Limited in the listing of its Five-Year Closed End Fund on the Colombo Stock Exchange (CSE) by way of an Introduction.
The Fund, comprising of a total of 914,925,446 units is Sri Lanka’s largest listed closed-end fund to date, and is expected to significantly contribute towards diversifying the range of offerings on the CSE while boosting liquidity and enhancing market participation. The total value of the Fund at the time of its establishment was LKR 9 Billion. This Fund is one of the two listed funds that is currently in operation with both being managed by CAL.
The Fund proposes to invest in a range of fixed income instruments such as Government securities and corporate debt allowing investors to leverage from a wide portfolio of investments managed by the CAL team. The Units of the Fund, being listed and publicly traded, provide the investors with the opportunity to liquidate their investments through a ready market and benefit from value appreciations dictated by market sentiment as opposed to the performance of the underlying portfolio investments.
The team consisted of Ayomi Aluwihare, Precedent Partner, Praveeni Algama, Partner and Sathya Gunawardana, Associate.
Further information can be found at: economynext.com, www.ft.lk