Regulatory Alerts2009-01-07
SEC Sri Lanka Circular No. 01/2009 on Unit Trust Investment Restrictions, Portfolio Management, and Minimum Net Capital
The Securities and Exchange Commission of Sri Lanka issued Circular No. 01/2009 to establish new investment restrictions for Unit Trust Funds, rescinding all previous general directives. The circular mandates specific percentage limits on investments in listed and unlisted equity and debt instruments relative to Net Asset Value, while requiring Managing Companies to adhere to Investment Manager rules when handling third-party portfolios. Additionally, it imposes a mandatory minimum net capital requirement of Rs 25 million that all Managing Companies must maintain at all times.
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