Feb 05, 2019 (LBO) – Ceylon Guardian Investment Trust PLC (GUAR) and Ceylon Investment PLC (CINV) has decided to consider options of winding up The Sri Lanka Fund, an open-ended fund incorporated in the Cayman Islands, denominated in US dollars.
The fund was relaunched in August 2010 under the management of Guardian Fund Management Limited (GFM) with the intention of attracting foreign investors to the Colombo Stock Exchange.
“After much analysis and discussion, it has been decided to consider options of winding up The Sri Lanka Fund, as this investment vehicle is no longer an attractive structure,” the management said in a stock exchange filing.
“A further disclosure will be made to the Colombo Stock Exchange upon completion of the above intention.”
Ceylon Guardian Investment Trust and Ceylon Investment are registered as holding 1,265,823 units each (43.34% each) of the participating shares in The Sri Lanka Fund.
Guardian Fund Management Limited acts as the investment managers of GUAR and CINV, as well.