Tag Archives: Investment in Sri Lanka

First Capital Money Market Fund

 

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FIRST CAPITAL MONEY MARKET FUND (FCMMF)

Products and Services –

This unit trust fund acts as a pooling vehicle in which contributions from multiple investors are accumulated and invested in fixed income investments such as government securities, commercial paper, structured debt instruments, and even bank and finance company fixed deposits that mature within one year.

The income earned from these investments are shared by the respective unit holders in proportion to the number of units owned.

Features and Benefits –

With its moderate risk level and high liquidity, the First Capital Money Market Fund is a good substitute for savings accounts as your investment can be withdrawn at short notice.

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REGULATED AND ENTRUSTED

Our fund management activities are dully regulated by the Securities and Exchange Commission of Sri Lanka (SEC) while Bank of Ceylon (BoC) acts as the trustee and custodian for our funds.

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Stock Watch – First Capital Holdings PLC

What happens when a news outlet teams up with an leading investment bank with over 3 decades of experience?
First Capital Holdings PLC together with NewsRadio brings you Stock Watch, a comprehensive recap of the day’s performance on the Colombo Stock Exchange. It’s accurate, up-to-date reporting backed up by unparalleled financial know-how.
Tune in to TNL Radio at 5.50pm every weekday for all this and more. The NewsRadio Stock Watch with First Capital Holdings PLC. A review you can rely on.

First Capital’s 9-month after tax profit tops Rs. 1 b mark

First Capital Holdings PLC has recorded a profit after tax of Rs. 1.09 b for the nine months ended 31 December 2014, indicating a stable growth trajectory. The company, which offers a range of investment banking products and services across the financial spectrum, saw an increase in profit after tax, in comparison to Rs. 262.9 m reported for the same period last year. Commenting on the Group’s performance over the period under review, First Capital Holdings PLC Chief Executive Officer Dilshan Wirasekara said: “Strategic decisions and concentrated growth initiatives have enabled us to capture areas of advancement and build on our business footprint.

We are both pleased and grateful that we have grown to gain the support and trust of our investor base.” Leveraging on favourable macro-economic conditions, a decline in secondary market interest rates and research-based decision making, First Capital Treasuries, the Group’s Primary Dealer Unit, cemented its position as a frontrunner in the Non-Banking Primary Dealer segment. First Capital Treasuries realised trading gains of Rs. 905 m during the period under review – driving an increase from Rs. 145 m reported during 2013/14. Funds under management saw a four-fold increase to Rs. 4.2 b, bearing testament to the unit’s progression during the period. The period under review concluded with the First Capital Wealth Fund establishing itself as the best performing fixed income Unit Trust fund in Sri Lanka. The Stock Broking and Margin Trading units also contributed positively towards the Group’s results during the period under review.

The Corporate Debt Unit mobilised Rs. 19 b in corporate debt securities, including the structuring and placement of Rs. 9.4 b listed debenture issues, earning a corresponding fee income of Rs. 112 m (2013/14 – Rs. 26 m). First Capital surpassed competitors to become the leading listed debenture manager as well as the leading intermediary in the secondary market for listed debentures via the DEX. First Capital Treasuries poised itself to take advantage of the dynamic financial environment by issuing a listed debenture of Rs. 500 m in January 2015, improving its long term capital base (Tier II).

The group’s stockbroking arm, First Capital Equities, became a fully owned subsidiary in November 2014. Reaffirming the group’s commitment to its client base and long-term strategic priorities, Wirasekara concluded: “Our results confirm that our development initiatives and decision making have been a success. We hope to make the most of our current position by strengthening the company in order to attain our vision of becoming Sri Lanka’s leading investment bank. We are ideally placed to sharpen our competitive edge further and deliver consistent value for our clients.” For nearly 30 years, First Capital Holdings PLC has been a leading investment bank operating in Colombo, Matara and Kandy. The company offers a full range of investment banking products and services. First Capital Holdings PLC has a credit rating of A-.

First Capital Holdings honours stakeholders

First Capital Holdings PLC recently hosted an evening of cocktails to celebrate the ongoing success of its partnerships and fete its stakeholders. Speaking at the reception, Executive Chairperson Manjula Mathews reflected on the company’s sustained growth and thanked those present for their continued support.

“We have achieved considerable progress over the past year thanks to the shared vision of all our stakeholders and propelled by a combination of teamwork, favourable market conditions and financial experience. We are sincerely grateful to our clients and other partners for their unstinting support as we progress on our journey towards becoming Sri Lanka’s leading investment bank.”

Elaborating on the company’s way forward, Mathews noted that the group plans to consolidate and build on the growth momentum of the past year by offering innovative and profitable investment banking solutions. Held at Cinnamon Grand, the reception brought together over 400 guests for a memorable evening of fellowship and entertainment and served as an occasion for the company to show its appreciation towards its regulators, collaborators, clients and members of the media.

The exclusive event provided an opportunity for the group’s senior management to engage and interact with all stakeholders and reaffirm the company’s commitment to strengthen and build on the trust and confidence placed in First Capital. During the first half of the financial year 2014/15, First Capital Holdings PLC reported profit after tax of Rs.868 million and received an upgrade in its national long-term and short-term corporate credit rating to A- /P2.

The company achieved several milestones such as the launch of a ‘Platinum Bond’ – the first-ever long-term repo investment product, pioneering the first ever microfinance-backed securitization and the introduction of three new unit trusts including a gilt-edged and money market unit trust. The First Capital Wealth Fund was lauded as the best performing fixed income unit trust over the past 12 months, with returns of over 25 percent. The corporate structuring arm of the company is accredited with the management of a landmark AAA-rated debenture, while First Capital Treasuries is currently the market leader in its niche, among standalone primary dealers.

Keenly attuned to the market and strengthened with a strong group research unit, First Capital Holdings PLC has recently added finance advisory services to its range of services in order to cater to the diverse needs of its clientele and provide superior investment banking solutions. First Capital Holdings PLC comprises of First Capital Treasuries Limited, First Capital Asset Management Limited, First Capital Equities (Private) Limited, First Capital Markets Limited and First Capital Limited. The company has a network of branches in Colombo, Matara, Negombo, Kandy and Kurunegala and is equipped with nearly three decades of experience in financial services.

First Capital promotes unit trust investments

In its efforts to facilitate knowledge-sharing about the investment market and encourage investor awareness, First Capital Holdings PLC held a special presentation on Unit Trust Investments, at the Management Club Professional Development Program last week. Here First Capital Holdings PLC Manager – Business Development and Corporate Planning Kosala Liyanagedara addressing the audience. The presentation encompassed various aspects of Unit Trust Investments and trends in the financial market.

First Capital Holdings Conducts Investor Awareness Forum in Kandy

Colombo, 26th August 2014:

An Investor Awareness Forum for regionally based corporative societies and entrepreneurs in Kandy and Kurunegala was organized by First Capital Holdings recently. The knowledge sharing session, which was held in Kandy, highlighted key developments and trends in the financial market while equipping investors with pivotal information pertaining to future investment decisions.

The audience was taken through the gamut of investment options available for potential investors and the process of creating, protecting and maximizing their money through secure investment instruments. A panel of speakers stressed the importance of taking a structured approach when analysing financial objectives and mapping out investment strategies and goals and expanded on the various types of Unit Trusts and its operating mechanisms.
Further, the benefits of having the expertise of a Fund Manager attuned to the current investment environment and its variables, while interacting regularly with the market, were drawn out. The audience was also taken through the intricacies of the stock market and its past and present economic fluctuations. Also speaking to the audience, Adrian Perera – CEO of Lanka Rating Agency, differentiated between Market Rating and Credit Rating and advised the audience on some rudimentary pitfalls to avoid when formulating investment decisions.

“This is a rare opportunity for us as awareness programmes of this nature are unusual in this part of the island. We gained a large amount of information about the workings of the stock exchange,” said Prabath Chandana from Sanasa – Polgahawela, a participant at the event, adding that it would benefit them greatly in all future financial decisions. The interactive forum encouraged participation and queries by the audience in order to demystify the workings of key investment tools and build awareness about the current market.
“It is imperative that investors are armed with accurate and clear knowledge to keep up with the dynamic nature of the financial market and we take a hands-on approach in making sure that they remain ahead of the curve. Building sustainable and mutually rewarding relationships is at the crux of all our activities,” said Dilshan Wirasekara, Deputy CEO of First Capital Holdings.

First Capital Holdings has previously held knowledge sharing sessions in Matara and has a network of branches spanning Matara, Negombo, Kandy and Kurunegala, for the convenience of its growing clientele. The company possesses over 30 years’ experience in financial services, is equipped with strong group research units and professionally qualified staff to extend their expertise and customize investment solutions in accordance with individual client’s and corporates’ needs. First Capital Holdings remains firmly committed to stringent corporate governance practices and combines innovation and efficiency to raise the bar for its level of service.

First Capital Treasuries launches Platinum Bond

• First primary dealer to offer repo investment option beyond one year

FC_PlatinumBond-Final-01

First Capital Treasuries Ltd. has announced the launch of a long-term, fixed-return bond, becoming the first primary dealer in Sri Lanka to launch a repo investment option backed by Government securities with maturity beyond one year.

The First Capital Treasuries Platinum Bond will offer interest of 8.5%, 10% and 11% respectively on maturities of three, four and five years on a minimum investment of Rs. 1 million, translating to annual effective rates of 7.87%, 8.78% and 9.16%, the company said. Accordingly, investors will receive Rs. 1.255 million, Rs. 1.4 million and Rs. 1.55 million on bonds of Rs. 1 million at the end of three, four and five years respectively. The investment is backed by Sri Lanka Government securities (Treasury bills/bonds), which will make it a 100% risk free investment opportunity and the respective collaterals will be logged in a Central Depositary System (CDS) account opened under the name of the investor.

Premature withdrawals and loan facilities are also available with this product in order to facilitate any urgent cash requirements of the investor, the company said. “We expect this new debt security to attract retail and high net worth investors as well as corporate entities that have mandatory requirements to maintain long-term investments,” said Dilshan Wirasekara, Deputy CEO of First Capital Holdings. “Because the rate of return is fixed, investors will be insulated against the volatility of interest rates, making the Platinum Bond a risk-free investment opportunity.”

He said the product is easy to understand since accruals and returns are on a straight line basis, as opposed to the yield-to-maturity model of a Treasury bond based on coupon payments and duration. For First Capital Treasuries, the Platinum Bond represents a source of funding with minimal maturity mismatches and provides an opportunity to attract new clients and incremental business, Wirasekara added.

A fully-fledged Investment Bank, First Capital Holdings comprises First Capital Ltd., First Capital Treasuries Ltd., First Capital Markets Ltd., First Capital Asset Management Ltd. and First Capital Equities Ltd. First Capital Treasuries is a Central Bank licensed primary dealer and is considered the pioneer in the primary dealer industry. It is also the largest non-bank primary dealer operating in the market at present.

Of the other entities, First Capital Asset Management is an SEC licensed investment manager which also manages a dedicated fixed income unit trust; First Capital Equities is a licensed stockbroker and member of the Colombo Stock Exchange; First Capital Markets is a licensed margin provider; and First Capital Ltd. is a structuring and placement agent for debt and equity, and a provider of corporate finance and advisory services.

The Board of Directors of First Capital Holdings PLC comprises Deshamanya Lalith de Mel (Chairman), Manjula Mathews (Managing Director,)Nihara Rodrigo, EardleyPerera, Minette Perera, Dinesh Schaffter and Nishan Fernando.

First Capital Holdings sponsors TMC

The Management Club announced the recent partnership (April 2014) with First Capital Holdings as one of the sponsors of The Management Club. First Capital has been a leading non-bank financial institution for over 30 years and is now equipped with a wide ranging portfolio of business lines making it a fully-fledged investment bank.
First Capital Treasuries Limited,  an authorised primary dealer of the Central Bank of Sri Lanka to deal in Government Securities, First Capital Limited, a specialised corporate debt intermediary and Corporate Finance advisor, First Capital Asset Management Limited, a Securities and Exchange Commission licensed Investment Manager and a Unit Trust Managing Company, First Capital Markets Limited a licensed Margin Provider and First Capital Equities Limited a full member of the Colombo Stock Exchange are the subsidiaries of First Capital Holdings PLC. First Capital Holdings aspires to be the Leading investment Bank in the country, and they believe the synergies with TMC will be mutually beneficial and thus First Capital is pleased to have its brand affiliated with the distinguished membership of TMC, so said the deputy CEO of First Capital Dilshan Wirasekara at the recent signing of the memorandum in the presence of the Board of Management president Deepal Abeysekera, President Emeritus Fayaz Saleem, Senior Vice president Rohitha Mendis, Vice President Sunimal Weerasooriya, Manager – Asset Management Naveen Samarasekera and Chief Operating Officer D. Soosaipillai from First Capital Holdings.

First Capital Holdings posts healthy profits

Colombo, 13 May, First Capital Holdings PLC has posted a healthy profit after tax for the financial year 2010/2011 of Rs. 990,260,000 compared to Rs. 682,244,000 for the previous financial year. Profits for the quarter ended 31 March 2011 were Rs. 81,299,000 an improvement on Rs. 41,264,000 for the same period the previous year. Earnings per share were Rs. 10.03 whilst Net Assets Per Share stood at Rs. 15.04.

“In the last couple of years, we have seen exceptional profit growth at First Capital,” a Company official said. “In 2010/11 although conditions were less conducive than those in the previous year in which a highly favourable bond trading environment resulted in exceptional profits by the Group’s primary dealer arm, the Company was able to sustain its momentum helped by strong performance in all areas.”

He went on to explain that reported profits were boosted by a one-off gain from the sale of an associate company – Kotmale Holdings PLC amounting to Rs. 180 million and a decision in the company’s favour by the Inland Revenue Board of Review resulting in a tax reversal of Rs. 444 million. He affirmed that First Capital was gearing up for measured and steady growth.

“First Capital Wealth Fund – a Unit Trust dedicated to investment in fixed income securities was launched and the company was granted a license to function as a Dealer on the Debt Exchange (DEX). Promotional campaigns and initiatives to further broad-base the services of the Group are on the cards,” he added.

The First Capital Group boasts of a rich pedigree in the Sri Lankan financial services arena with its lineage tracing 28 years. Having obtained its Primary Dealership license in 1992, when the Central Bank formed the Primary Dealership system, First Capital Treasuries has steadily grown to become a strong and resilient front runner with a loyal and widening customer base. With pioneer status in this area, aided by an unblemished reputation, First Capital Treasuries has developed strong bonds with its principal business partners which are commercial banks, other primary dealers and investors both big and small.

First Capital Asset Management Limited under license from the Securities and Exchange Commission, functions as an ‘Investment Manager’ and has mobilised a substantial quantum of funds under management on discretionary mandates. Upon being approved by the SEC to manage Unit Trusts, the company launched First Capital Wealth Fund in October 2010.

First Capital Markets is an SEC approved Margin lender for listed equity. It has, over the years, built up a strong client base. With the recent surge in the share market, this area has featured as a prominent contributor in the performance of the group.

First Capital Limited is actively involved in structuring and underwriting both short term and long term corporate paper and in generating placements on these and other secondary market debt instruments. The company has positioned itself as a debt market specialist by creating a ready marketplace for those seeking investments in debt securities and those vying to borrow from the debt capital markets.