Financial planning and fund management is increasingly playing a critical role in the life of every person. The bygone months have truly tested financial resilience at all levels of society. NDB Wealth Management, having begun its momentous journey, 28 plus years ago, has always been at the forefront of identifying and advising clients on the best savings or investment solution whilst taking into consideration the potential risks associated therein.
Reviewing savings and investment accounts are vital to the financial wellbeing of individuals and businesses alike. Ensuring funds are in the right place and that risks are controlled is a critical factor for most investors. Every rupee invested should be safely guarded to ensure the investment does not suffer losses or face unnecessary risks. Doing this on your own can be a challenging task to most individuals, both in terms of time and money.
“Proper financial planning and management of funds is important to every person. Whether you are planning for your retirement or are saving for a rainy day, it’s important to know that you are doing the right thing for yourself, your family or even your business. Financial planning will give you the added flexibility of meeting unexpected expenses or indulging in a bit of luxury at those special occasions,” stated Amaya Nagodavithane, Fund Manager at NDB Wealth Management.
Money Fund from NDB Wealth is a multi-purpose account for individuals and corporates which is well placed for the short term cash management needs of companies and individuals alike. It is the ideal account for all individuals and businesses looking at solidifying the future and stepping up in life, making it suitable for every season, for everyone. It can be the stepping stone for a mom looking to secure her family’s future, the young executive trying to start off a new career, a corporate securing a new business transaction or even as an alternative to a savings account.
Commenting further Amaya said, “At NDB Wealth, our team of Relationship Managers are backed by a strong investment team who continuously monitor investment conditions in the market and supports the client’s plans on saving or investing by advising the client on the best savings or investment solution taking into consideration the potential risks associated with the investment. NDB Wealth management plays a very important role in managing such conditions that may impact clients negatively.”
Money Fund by NDB Wealth with a current yield of 7.30% as at 25th November 2021 will get your savings and investments working harder for you. The Money Fund account delivers a host of benefits offering favourable returns, with interest credited daily and offers capital safety enabling investors to live stress free. The funds are invested in the highest quality banks possessing high credit ratings and Government Securities thus aiming to provide the highest level of fund and investment security which is further validated by the esteemed credit ratings of the investment portfolios. In the long term, the yield of NDB Wealth Money Fund helps a saver building a secondary source of income.
It’s time – you invested wisely and well. Visit www.ndbwealth.com or call on 0719 788 788 to speak to a relationship managers and set up your Money Fund. You can also visit their website www.ndbwealth.com to explore other investment opportunities, or even connect with NDB Wealth’s exemplary team of financial planners who can help you to achieve full financial independence, with all the benefits it entails.
NDB Wealth is fully owned subsidiary of the NDB Bank, one of the fastest growing financial services conglomerates in Sri Lanka, with the strategic mission to be the leader in the financial services and banking sector. From its inception, the group which includes NDB Bank, NDB Investment Banking, NDB Wealth, NDB Securities, and NDB Capital has been a catalyst in the development of the nation, strengthening and empowering entrepreneurs, corporates and individuals from all strata of the economy. The customers across all NDB Group companies have benefited from the extensive product and service offerings of the NDB Bank and its affiliates.
*Current yield is variable and subject to change. Past performance is not indicative of future performance. Investors are advised to read and understand the contents of the Exploratory Memorandum before investing. Among others, investors should consider the fees and charges involved.
Seven factors of concern at upcoming Monetary Policy Review
by Sanath Nanayakkare
The Central Bank of Sri Lanka (CBSL) is scheduled to announce its latest monetary policy review on 20th January 2022, with all eyes on dwindling foreign reserves and foreign currency exchange in the country.
In this context, First Capital Research has named 7 factors of concern that could be taken into account at the upcoming monetary policy review. They are as follows.
* Foreign Reserves USD 3.1 billion – Dec 2021
* Inflation CCPI 12.1% – Dec 2021
* GDP Growth -1.5% – 3Q2021
* Private Credit LKR 60.5 billion – Nov 2021
* 03M T-Bill rate 8.38% as at 12.01.22
Liquidity and CBSL Holdings LKR -364.0 billion and LKR 1.42 trillion
Balance of Trade (BOT) and Balance of Payment (BOP) USD -6.5 billion and USD -3.3 billion for Jan-Oct 21
First Capital Research’s Policy Rate Forecast – Jan 2022-Apr 2022 notes that they believe the CBSL may highly consider tightening the monetary policy rates in this policy review but given the concerns over economic growth, there is a probability of 40% for CBSL to maintain its policy stance at current levels.
“With high frequent indicators improving in line with expectations, we have eliminated any probability of a rate cut. We expect a continued increase in probability for a rate hike in order to prevent overheating of the economy amidst the given fiscal and monetary stimulus,” they said.
As per First Capital’s view, CBSL either can choose to hike policy rates by 50bps or 100bps or hold policy rates steady, while a rate cut is off the table due to the high debt repayment and the high domestic borrowing requirement.
First Capital believes that there is a 60% probability for a rate hike due to the remedial actions required in achieving external stability.
However, there is also a 40% probability to maintain the policy rates at its current level in order to further improve the high frequency indicators.30%, they noted.
Sri Lanka’s dash brand enters international markets
Multichemi International Ltd, which manufactures and distributes a wide range of products under dash, one of Sri Lanka’s leading detergent and household care brands, has begun exporting its products to several international markets in Asia and Oceania, with plans also to enter Africa. The dash brand includes a wide range of products in car care, household care, home fragrances and laundry care sectors. Multichemi International Ltd, which has been awarded ISO 9001:2015 certification, is a Sri Lankan pioneer in environment-friendly cleaning products, having launched the country’s first biodegradable, safe cleaning products over 28 years ago.
Amila Wijesinghe, General Manager of the Company said,”Having conquered the domestic market, we are now ready to capture the international market. We are confident that our products which are of high quality will receive a good demand overseas as well. The feedback we have received so far from our overseas customers is extremely encouraging. We are dedicated to taking our products to the international market, to bring in foreign currency to the country and help uplift the economy”,
Janaka Abeysinghe appointed SLT CEO
Sri Lanka Telecom PLC has announced the appointment of Janaka Abeysinghe as its Chief Executive Officer (CEO) with effect from February 1, 2022.
The incumbent CEO Kiththi Perera will be overseas on leave for a period of two years to pursue higher studies, according to a stock market filing by the company.
Abeysinghe joined SLT in 1991. In his present role, he leads the enterprise and wholesale business of SLT that provides integrated voice and data solutions to enterprises, government institutions, domestic telco operators and global wholesale carriers.
In his career at SLT spanning 29 years, he has held a number of senior positions, including general manager Enterprise and International Sales and has extensive experience in the areas of Enterprise Digital Services, Enterprise Communications Solutions, Data Communications, Business Development, Domestic and International Switching Operations and Global Wholesale Voice & Data Business.
He holds a Master’s Degree in Electrical and Computer Engineering from the University of Kansas, USA and a BSc degree in Electronics and Telecommunications Engineering with a First Class Honours from the University of Moratuwa.
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