Ceybank SavingsPlus : Money Market Fund

Fund Facts at a Glance
Fund TypeMoney Market
Investment ObjectiveMaximize Current Income
Invests inGovernment & Corporate Debt
DividendsPaid Semi Annually
RiskModerate - Low
TaxationIncome Free of Tax
TrusteeNational Savings Bank
CustodianBank of Ceylon
Management Fees 0.75% P.A
Trustee Fees 0.15% P.A NAV of the Fund
Custodian FeesRs 7,000 p.m
Front End FeeNil
Exit FeeNil
Minimum initial InvestmentRs 10,000/-
CurrencySri Lanka Rupees (LKR)
Start Date 22nd June 2009
   
Ceybank Savings Plus Fund - Interim report - 30 June 2013

Introduction

Ceybank SavingsPlus is the first Money Market Fund floated by Ceybank AML. Ceybank SavingsPlus is an Open Ended Unit Trust, to facilitate the general public to reap the benefits of the Money Market in Sri Lanka. An Ideal tool for cash Management

Objective

The primary investment objective of the Fund is to maximise short term current income whilst ensuring ease of liquidity by investing in a portfolio of Money Market Instruments. Also to provide a regular stream of dividend income bi-annually.

Style

The Fund will invest in Money Market Instruments such as Government Securities (Treasury Bills and Treasury Bonds), Bank Deposits, Repurchase Agreements and Corporate Debt Instruments with maturities less than one year.

The Fund will not make investments in listed or unlisted equity securities.

Risk factors

Investors should be aware that the price of Units of this Fund and the dividend paid by the Fund can go down as well as up according to the interest rate fluctuations in the market. Investments in Units differ from Bank deposits and there is no guarantee of any fixed returns.

The Fund's investments are subject to normal market risks and the ability to achieve the investment objectives will depend to a great extent on the monetary policy of the Central Bank of Sri Lanka, overall performance of the economy, and the contributory environmental factors. The Fund is also subject to various degrees of regulatory, fiscal, liquidity, inflation, interest rate and re-investment risks.

Since the investments are denominated in the local currency, the investors in other currencies would have to bear the currency risk as well.

Taxation

  • Capital gains form sale of units are Exempted from taxes
  • Dividends - Dividend paid to unit holders are tax free in the hands of unit holders.
  • Withholding Tax - None

Dividend history

CSP Fund Performance as at 31-10- 2017 based on NAV

Period Annualized Rate Simple Rate
1 Month 11.8% 0.9%
3 Months 12.4% 3.0%
6 Months 12.5% 6.1%
1 Year 11.6% 11.6%
3 Years 9.0% 29.7%
5 Years 9.6% 58.4%

* Percentage change in NAV as at 31 st October 2017. Adjusted for dividends.

Fees and Charges

Front End Fee None
Exit Fee None
Management Fee 0.75% p.a. on the NAV of the Fund
Trustee Fees 0.15% p.a. on the NAV of
Custodian Fees Rs.7000 per Month
Income Tax 10% of Profits
 
Other Information  
Financial Year end 31st December
Reporting Annual and Half yearly
Valuation Daily (Cost plus Accrued Interest)
Dividend Paid Semi Annual
Trustee National Savings Bank
Custodian Bank of Ceylon