JB Vantage wins Sri Lanka CFA’s top Unit Trust award

Aug 04, 2016 (LBO) – JB Vantage Money Market Fund, part of the JB Financials Pvt Ltd, has won gold for best Unit Trust at the recently held CFA Sri Lanka Capital Markets awards 2016.

“JB Vantage Value Equity Fund bagged the bronze in the same category, thereby dominating the category and underscoring their leadership position in Sri Lanka’s fund management arena,” a statement said.

“JB Financial is a relatively low profile yet highly respected thought leader in the country’s domestic capital market, having spearheaded governance and ethics to advance the industry in Sri Lanka.”

The JB money market fund gave a return of 7.34 percent last year. It was the top performer in the three years prior to that, according to data from the Unit Trust Association of Sri Lanka.

The JB equity fund gave an annual return of 56.96 percent in 2014, beating all other equity funds and the All Share Price Index which rallied 23.4 percent that year. Last year it gave an above 2 percent return, when the ASPI fell 5.5 percent, among the top performers in the category.

JB Vantage Unit Trusts began in August 2011 with JB Vantage Money Market Fund. This was followed by JB Vantage Value Equity Fund in May 2012 and the JB Vantage Short Term Gilt Fund in January 2016. Currently the funds have over LKR 10 Billion assets under management.

In the statement JB Vantage said they focus on rigour of their market analytics and insights, with an emphasis on consistency, risk mitigation, liquidity management and stewardship.

Sri Lanka Capital Markets Awards is held annually for the past 4 years.

The awards recognize excellence in capital market products, the professionals who manage it and the positive impact on the development of the industry, locally. The ‘Best Unit Trust’ award category was introduced for the 1st time this year.

Thirteen funds from six Unit Trust managers were reviewed for judging, for the year ended 31st March 2016, with scores given for investment processes and risk adjusted returns, risk management and compliance practices, extent of fair disclosures to unit holders as well as emphasis on disclosure to unit holders and risk management & compliance practices of the firm.

“We are delighted to receive this award,” said Chief Executive of JB Financial, Christine Dias Bandaranaike.

“These awards are testament to the quality of our funds and illustrate the relevance of our management philosophy – simple principles, rigorously applied and guided by prudence.”

“JB Vantage is one of the few Unit Trust that has self regulated its fees to one of the lowest in the market, while maintaining its offering of internationally recognized practices and standards,” said Murtaza Jafferjee,
Director JB Financial and Fund Manager, JB Vantage Value Equity Fund.

“But I believe our greatest strength is the meeting of old world values like prudence and stewardship, with best in class systems and resources- be it technology or human capital that delivers consistent performance in managing and creating wealth.”

The Trustee and Custodian of the Funds are Deutsche Bank AG Colombo. JB Vantage deploys rigorous industry practices: Global Investment Performance Standards (GIPS), the CFA Asset Manager Code and the CFA Institute Code of Ethics and Conduct .

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