The beleaguered industry is going through a rough patch with illiquid capital markets and volatile interest rates, leaving it with less room to manoeuvre funds.
rnrnldblquote Our marketing campaigns are not strong enough, neither to we have the capacity to deploy qualified personnel outside Colombo. So this may be a route which we should look at,
dblquote S Jeyavarman, President, Unit Trust Association of Sri Lanka said addressing a Securities & Exchange Commission (SEC) sponsored workshop on Tuesday.
rnrnPrevious attempts to market unit trust have brought in little results.
rnrnIn 1997, the industry launched an islandwide campaign to drum up public awareness. The SEC put in Rs. 4 mn and the industry coughed up another Rs. 3 mn towards this exercise.
rnrnldblquote The initial enthusiasm fizzled out after the campaign. We didn
quote t have funds to sustain it for a longer period,
dblquote Jeyavarman said.
rnrnThe new marketing arm, Jeyavarman says will cost around Rs. 10 mn to start off with. Sou