National Asset Management Limited (NAMAL) announced the launch of the NAMAL Sharia Fund, a Sharia compliant Unit Trust. The NAMAL Sharia Fund offers investors an opportunity to invest in a diversified portfolio of Sharia compliant equities listed on the Colombo Stock Exchange with the objective of maximising medium to long term returns. The Initial Public Offering (IPO) will commence today (17th December 2012).
NAMAL managed the first Sharia compliant Unit Trust in Sri Lanka – the NAMAL Amana Equity Fund - a five year close ended Unit Trust from 2007 to 2012. In the past year the Fund generated 5.60% in returns compared to the ASPI which declined by 11.22%. The Fund generated a 99% return to investors during the period 2007-2012………………………………………..Full Article: Source