Apr 01, 2010 (LBO) – Sri Lanka’s NDB Aviva Wealth Management, a unit of listed NDB Bank and UK based Aviva Insurance says it is planning to go retail riding on easy to understand products distributed through the group. The firm manages 29 billion rupees worth of assets belonging to 80 large portfolios including the insurance funds of Aviva NDB Insurance in Sri Lanka and private pension plans.
The firm says it is fixed income funds returned as much 27 percent when interest rates peaked to around 20 percent in early 2009 and then fell dramatically. Colombo stocks also rocketed 125 percent last year.
“The all share price index did 125 percent so compared to a very dynamic benchmark performing 125 percent up performance, most of the portfolios has done above the benchmark,” says fund manager Bimanee Meepagala.
“Some of the larger portfolios have done as much as 138 percent for last year.”
The firm says its high returns came from research and careful strategy. For large funds, liquidity matters.
“When we invest, we invest for the longer term,” Meepagala says. “We look at company research how the valuations look and liquidity.
“Liquidity is a very important aspect