Jan 23, 2012 (LBO) – NDB Aviva Wealth Management’s Eagle Gilt Edged Fund has been rated (SL) AAAmf, by ICRA Lanka Limited, a rating agency which is an associate of Moody’s Investors Service. Launched in December 1997, the Eagle Gilt Edged Fund invests in government and government guaranteed securities.
“The fund has been very popular with clients and has captured substantial amount of deposits which was around 4,552 million rupees as at December 2011,” Prabodha Samarasekera chief executive of NDB Aviva Wealth Management said in a statement.
The fund was ideally suited for persons who would consider keeping their savings in bank savings accounts and did not like to take risks.
It pays out income quarterly, making it an vehicle with a regular retirement income. Income from Eagle Gilt Edged fund is tax free.
The savers can enter and leave the Eagle Gilt Edged fund anytime.
The NDB Aviva Wealth Management has 50 billion rupees under management and is a joint venture between National Development Bank Plc, and Aviva an international insurance group.