Business
Unit Trust Association of Sri Lanka launches “Investor Awareness Initiative” to empower public to build wealth through Unit Trusts
The Unit Trust Association of Sri Lanka (UTASL) has launched an Investor Awareness Initiative aimed at helping Sri Lankans understand how Unit Trusts (UTs) can play a vital role in planning and growing their wealth. The initiative will take place at the World Trade Centre, Colombo, from 27th to 31st October 2025, where there will be 16 member companies participating in the awareness programme.
While Unit Trusts are one of the most widely used and trusted investment tools globally, awareness and participation among Sri Lankan investors remain relatively low. UTASL’s latest initiative seeks to change that by making the concept of Unit Trusts simple, relatable, and accessible to everyone, from first-time investors to those seeking to diversify their savings. This public education drive supports the ongoing efforts of the Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) to strengthen financial literacy and investor participation across the country.
The launch of this initiative comes at a time of renewed confidence and growth in the Unit Trust industry. As of August 2025, total assets under management reached Rs. 601 billion, and the number of unit holders climbed to 131,609, reflecting an increase of 16,972 new investors and Rs. 56.4 billion in funds within the year. This growth signals a significant shift in investor behaviour, with more Sri Lankans beginning to look beyond traditional savings accounts toward professionally managed investment options that offer stability, transparency, and long-term returns.
Speaking on the initiative, Christine Dias Bandaranaike, President UTASL, said, “For Sri Lanka’s economy to grow sustainably, people must begin to think like investors, not just savers. Unit Trusts make this transition easier. Professionals, regulated by the SEC, manage Unit Trusts, and are accessible to anyone who wants to start building wealth systematically. Our campaign’s central message is Dhanaya Wadana UT (Wealth Building UT), with which we hope to encourage Sri Lankans to take control of their financial future through disciplined, long-term investing in regulated Unit Trusts.”
The public engagement event at the World Trade Centre, Colombo, is from the 27th to the 31st of October, providing a unique opportunity for visitors to engage directly with licensed fund managers and investment experts. This interactive platform allows you to learn about different types of Unit Trusts, such as equity, balanced, and income funds, and discover how small, consistent investments can grow into long-term wealth.
The companies participating in the Investor Awareness initiative are leaders in the industry, each bringing their unique expertise and commitment to wealth building. These include Arpico Ataraxia Asset Management (Private) Limited, Asia Securities Wealth Management (Pvt) Ltd, Asset Trust Management (Pvt) Ltd, Assetline Capital (Pvt) Ltd, Capital Alliance Investments Ltd, Ceybank Asset Management (Pvt) Limited, Ceylon Asset Management Company Limited, CT Smith Asset Management (Private) Limited, First Capital Asset Management Limited, J B Financial (Pvt) Ltd, LYNEAR Wealth Management (Pvt) Limited, National Asset Management Limited, NDB Wealth Management Limited, Premier Wealth Management Ltd, Senfin Asset Management (Pvt) Ltd, and Softlogic Asset Management (Pvt) Ltd.
UTASL aims to popularise Unit Trusts and inspire Sri Lankans to prioritise long-term, professionally guided investing over short-term savings. The core message of “Dhanaya Wadana UT” will empower Sri Lankans to control their financial future and contribute to national economic growth. For more information on Unit Trusts and how to get started, visit their website at utasl.lk or meet the UTASL member firms at the World Trade Centre, Colombo, from 27th to 31st October, 2025.
Business
Cost-effective clearance of goods across borders to determine worth of Customs Paperless Declaration
By Ifham Nizam
The introduction of the Customs Paperless Declaration from October 1 could mark an important step in Sri Lanka’s efforts to modernise trade, but its real value will depend on whether it reduces the time and cost of moving goods through the country’s borders, Customs House Agents & Traders Association President Mohamed Niyas said.
Niyas warned that digitising Customs declarations alone would not necessarily translate into faster cargo clearance or lower costs for businesses.
‘Expecting a dramatic improvement in clearance speed under the present conditions is like expecting Ferrari performance from a Morris Minor configuration, he said.
For importers and exporters, the issue extends well beyond paperwork. Every additional hour or day that cargo remains in the clearance chain can have wider consequences for businesses, including increased port and storage-related costs, additional working-capital requirements, uncertainty over delivery schedules and disruptions to production and distribution.
Niyas said the competitiveness of Sri Lanka’s trading sector ultimately depended on how efficiently goods could move through the country’s border-clearance system.
‘The real bottleneck is not merely the absence of paper. It is the entire clearance ecosystem—the limitations of the existing ASYCUDA World system, excessive regulatory interventions by Other
Government Agencies, multiple approvals, physical examinations, manual interventions, fragmented processes and institutional constraints, he said.
He cautioned that unless these bottlenecks were addressed, there was a risk that the paperless initiative would merely digitise existing bureaucracy.
‘If these underlying constraints remain unchanged, there is a real risk that the new paperless system could become another “copy-and-paste road show”—where an old, complex clearance process is simply transferred onto a digital screen without fundamentally changing the process itself, Niyas said.
For businesses dependent on imported raw materials, machinery, components and other inputs, clearance efficiency can directly affect the wider supply chain.
Delays at the border can create uncertainty for manufacturers, distributors and retailers, while exporters can face difficulties meeting delivery schedules when imported inputs or export consignments are held up.
Niyas therefore argued that the success of the October 1 initiative should be judged by its impact on trade flows rather than by the number of declarations processed electronically.
‘Paperless does not automatically mean faster, he said. ‘Digitising a slow process does not make the process fast. It only makes the slow process digital.’
He said Sri Lanka needed to move towards what he described as “process-less Customs”—a system in which unnecessary procedures are eliminated rather than simply converted into electronic procedures.
Among the reforms he called for are simplification of Customs declarations and approval workflows, improvements to the functionality of ASYCUDA World, greater use of risk-based inspections and better integration of Other Government Agency approvals.
Niyas also called for the elimination of repetitive document submissions and physical endorsements, greater use of pre-arrival processing, sufficient capacity for digital document uploads and clearly defined service-level timelines for Customs and OGAs.
Business
China backs Sri Lanka’s Non-aligned stance to counter regional pressures
By Sanath Nanayakkare
As global attention has fixed on the high-level diplomatic choreography at the United Nations General Assembly in New York, a subtler, yet profound geopolitical signal was sent from Colombo, yesterday.
In a major address marking the founding anniversary of the People’s Republic of China, newly appointed Chinese Ambassador Wei Huaxiang chose to anchor bilateral relations not just in modern trade or infrastructure, but in a shared respect for Sri Lanka’s legacy of non-aligned independence.
By explicitly invoking Sri Lanka’s foundational role in the 1976 Non-Aligned Summit, Beijing was doing something unexpected in an era defined by fierce great-power rivalry: it was officially validating a small island nation’s right to maintain an independent foreign policy stance.
The Strategic Value of Independence
For decades, nations caught in the crosshairs of major-power competition have faced intense pressure to pick sides. Yet, Ambassador Wei’s embrace of Colombo’s non-aligned tradition signaled a different diplomatic playbook. Instead of demanding alignment, Beijing was framing its partnership as a reliable counterbalance to regional pressures. By honouring Sri Lanka’s diplomatic autonomy, China was effectively reassuring smaller economies that sovereign independence and robust economic cooperation can coexist.
Beyond Ports and Industrial Zones
This diplomatic framing reframed the narrative surrounding major collaborative ventures like the Colombo Port City and Hambantota Port. While foreign analysts often view these projects exclusively through the lens of strategic rivalry, Beijing’s diplomatic messaging tied them back to a historical ethos of solidarity—evoking memories of the 1952 Rubber-Rice Pact.
By marrying economic projects with a stated respect for non-alignment, China is positioning itself as a steadfast stakeholder that respects Sri Lanka’s internal agency during difficult economic and political seasons.
As both nations look toward major milestones in 2027—including the 70th anniversary of diplomatic ties—this nuanced diplomatic move revealed how historic traditions are being leveraged to navigate modern multipolar realities.
For global observers, the takeaway was clear: in the shifting architecture of Asian geopolitics, respecting a nation’s historical neutrality may just be the most effective way to secure a lasting partnership, a diplomatic masterclass that Ambassador Wei Huaxiang executed in style.
Business
Sri Lanka Insurance Life appoints Dr. Sameera Dharmasena Chief Executive Officer
Sri Lanka Insurance Life (SLIC Life), the nation’s largest and strongest Life Insurer, is pleased to announce the appointment of Dr. Sameera Dharmasena as its new Chief Executive Officer, effective 22nd September 2026.
Dr. Dharmasena is a distinguished insurance professional with over 21 years of experience in the Sri Lankan insurance industry, having held senior leadership positions across several leading insurance companies affiliated with some of Sri Lanka’s largest business conglomerates. His extensive career spans both local and multinational insurance environments, bringing together broad industry expertise, strategic leadership and a strong commitment to the advancement of the insurance profession.
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