Sri Lanka’s Candor 5-year unit trust public offer oversubscribed

Nov 10, 2015 (LBO) – Candor Opportunities Fund, managed by Candor Asset Management, issue offer of 50 million units was oversubscribed with the issue reaching applications for over 500 million, the fund said.

“Therefore we will exercise the subscription offer,” the company said in a stock exchange filling.

The issue offered 50 million units at 10 rupees per unit, with an option for a further 25 million units if the 5-year close-ended unit trust is oversubscribed.

The offer for subscription opened on October 20th.

The Opportunities Fund aims to primarily invest in stocks of well-managed companies that are attractively priced with medium to long-term growth and income potential with the option to move into fixed income securities at times when the equity market is overvalued, they said in an earlier statement.

“It will aim for a target allocation of 97 percent in equity and 3 percent in fixed income securities, although it could go up to 100 percent either way.”