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Unit Trust to be Rs 50 b industry

Nov 29, 2010 7:00:00 PM - aussieindolanka.com
The value of the unit trust industry is Rs 18 billion and the industry has the ability to attract more funds. It is expected that within the next five years the unit trust industry to become a Rs 50 billion industry, Ceybank Asset Management (Pvt) Ltd CEO / Executive Director Chitra Sathkumara said. The current economic environment is conducive for the Unit Trust industry to grow and there are positive factors to support the expected increase in the unit trust holders. It is important to mobilize savings to facilitate the development drive and unit trust could play a major role. The banking industry has Rs 700 billion as savings accounts and further Rs 1,200 billion as fixed deposits which yield low interest rates. There is much potential to attract more investors for Unit Trust, he said. The financial markets are changing and interest rates for bank products are falling. This is an opportunity for the investors to look for more income yielding products.   Read more:www.dailynews.lk/2010/11/30/bus02.asp