Wednesday, July 28, 2010

Ceylon Tourism Fund: The first tourism sector fund introduced in Sri Lanka

On July 27, 2010, Ceylon Asset Management and Deutsche Bank AG tied-up introduced the Ceylon Tourism fund in order to tap into the profits of the top ten tourism companies of Sri Lanka that are listed on the Colombo Stock Exchange.

Licensed by the Securities and Exchange Commission of Sri Lanka, the Ceylon Tourism fund is the first ever tourism sector fund in the country. It will distribute tax-free income from its profits on yearly basis.

The Ceylon Tourism Fund invests in ten key companies in the country’s hotel and travel sector. The companies are- Aitken Spence Hotels, John Keells Hotels, Asian Hotel and Properties, Taj Lanka Hotels, Ceylon Hotels Corporation, Hotel Services (Ceylon), Royal Palm Beach Hotels, Amaya Leisure, Light House Hotel and the Fortress Resort PLC.

Daily News reported that the Ceylon Tourism Fund is an open-ended equity fund which allows investors to invest and exit any time.

The stocks will be offered for sale in the market on July 28, 2010 at Rs.10 per share with a minimum investment limit of Rs. 10,000.

Tourism is one of the major sectors for Sri Lanka. Till date, the country’s tourism sector could not flourish due to civil war and political instability. Now, that the war is over, Sri Lankan government is working hard to turn around the country’s tourism sector.

Recently, Sri Lankan government organized the 11th IIFA Awards in Colombo in order to boost Sri Lanka’s image around the world.


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  2. Excellent information, now Sri Lanka tourism is growing very fast.