Namal Acuity Value Fund ( NAVF) generated a return of 15.20% for the six month period ended June 2017, outperforming the benchmark All Share Price Index (ASPI) and the S&P Sri Lanka 20 Index (S&P SL20) by 6.87% and 2.7%, respectively.
During 1QFY18, the Fund reported a profit of Rs. 226.7m, compared to Rs. 65.4m reported last year, recording a growth rate in excess of 200.0%. Total investment income increased significantly to Rs. 232.0m from 71.8m in last year, primarily as a result of unrealized gains, which stood at Rs. 209.6m at the end of the period. However, dividend and investment income declined to Rs. 22.5m from Rs. 34.0m during the same period.
Net asset value of the fund increased 25.2% YoY to Rs. 1,589.2m during the period. During the period under review, the ASPI gained 11.30% and the S&P SL 20 gained 14.38%. Revival of foreign buying interest led to the CSE reporting Rs. 16.5b in net foreign inflows for the period. The average daily turnover increased to Rs. 1,139.8m from Rs.708.7m in 1QFY2018. Foreign participation accounted for 45.1% of turnover in 1QFY2018.
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