| The Sri Lanka Fund is managed by Guardian Fund Management Limited (GFM), a specialised fund management company within the Carsons Group. GFM’s portfolio management operations are backed by a strong focus on research and structured management processes to ensure good governance and risk management. GFM is registered with the Securities & Exchange Commission of Sri Lanka to operate as an investment manager. |
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Track record |
| The collective fund base under management by GFM is valued at US $ 105 mn as at 29th March 2008. The investment companies managed by GFM focuses on equity investments listed on the CSE that create wealth to shareholders through dividends and long term capital appreciation. The majority of investments within the portfolio consist of strategic investments and those held for long term value appreciation, while approximately USD 5 million has been allocated for active management and short term trading to realize capital gains. |
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| Directors' Profile |
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Chandima Gunawardena
Director of The Sri Lanka Fund, Chandima is also a Director of Carson Cumberbatch & Company Ltd. and serves as Chairman of Equity One Ltd., Equity Two Ltd., Pegasus Hotels of Ceylon Ltd. and is a Director of several subsidiary companies within the Carsons Group. He is also the President Director of PT Agro Indomas, the Carson Group’s plantation company in Indonesia and a Director of Union Assurance Limited. Chandima has over 30 years experience in industry, financial services, capital market operations, international trade, project development and management and is a Fellow of the Chartered Institute of Management Accountants, UK.
Ruvini Fernando
Director of Guardian Fund Management Limited, a registered Investment Management company in Sri Lanka with a fund base of USD 100mn under management. Guardian Fund Management is a subsidiary of Carson Cumberbatch PLC a diversified regional conglomerate and the fourth largest capitalised company on the Colombo Stock Exchange. It manages the Group's investment trusts holding a portfolio of approx. USD 100mn, with over 4000 shareholders. Director of the Sri Lanka Fund, a country fund for Sri Lanka currently being re-launched by Guardian.
Counts over 20 years work experience in the fields of management accounting, finance, research analysis, strategic planning and investments. A former visiting faculty member in the MBA programme of the Postgraduate Institute of Management in one of the leading Sri Lankan universities. Member of the Regaining Sri Lanka Tourism Steering Committee, a policy making forum of the government during the period January 2002 to January 2004.
Has a Masters Degree in Business Administration from the Postgraduate Institute of Management (PIM), University of Sri Jayewardenepura, Sri Lanka.Is an Associate Member of the Chartered Institute of Management Accountants, UK and a Fellow of the Association of Chartered Certified Accountants, UK.
Adrian Collins
Adrian is a Director of The Sri Lanka Fund, Nuwara Eliya (Holdings) Plc. and the Nuwara Eliya Tea Estate Company Ltd. In the UK he is a Director of Strand Partners Limited, a Corporate Finance business based in the West End of London and serves on the Boards of City Natural resources High Yield Trust Plc., Raven Russia Limited, Windsor Plc and a number of other companies. He has over 30 years of work experience in the field of Fund Management and has served as Managing Director of Gartmore Investment Management and Director and Advisor to several leading investment management houses in the UK. |
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Staff profile |
Guardian Fund Management comprises a team of qualified professionals headed by the General Manager with over 16 years of experience, who oversees the operations of the Company. The Fund Manager of GFM accounts for over 12 years of experience in the fund management industry and is responsible for investment decisions. The Company also has professionally qualified support staff who handle the administrative functions, reporting and client servicing. The sector operations come under the purview of one of the parent company’s Board members. GFM’s operational staff is supported by a panel of eminent investment committee members with vast experience in the industry, who advise the management team of new investment opportunities and ensures adherence to compliance measures.
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Operating processes, internal audit and compliance
GFM addressed the key processes required for managing both long term and short term investments by setting in place Investment Policies and Parameters, a compliance framework and the establishment of Operating Guidelines on portfolio management and accounting. Processes were also established for regular monitoring, review and measurement of portfolio performance. Our internal audit scope developed by KPMG Malaysia aims to ensure that the system of internal controls is continuously improved, while risk factors & measures for mitigation are adequately addressed. The Compliance Review process ensures that the Investment Committee is kept informed of the adherence to the internal control measures and statutory obligations the company has to conform to.
Investment decision making
The investment decision making process encompasses decisions on asset allocation and sector selection as well as choice of individual stocks. The fund management team reviews portfolio performance and new acquisition/disposal decisions based on market volatility and stock performance in the case of the short term portfolio. The long term portfolio decisions are supported by macro research and the team’s view of the maturity of the stock. The investment decision making process of the Guardian Fund is enhanced by the contribution of an eminent investment committee who bring in a wealth of external expertise and knowledge at a macro level to support the detailed studies done by the operational staff.
Research
Our research process is structured along the three tiers of macro economic, industry and corporate research. We are developing in-house capabilities in research while also outsourcing the provision of certain services. A well structured research process which helps us to proactively assess market trends and size up potential opportunities & threats faced by the portfolio is a key tool we use in risk management. This becomes all the more important due to the heavy exposures we have to single companies. Thus we regard our research as the most important component our decision making process – helping us to make asset allocation, sector allocation and stock selection decisions in an informed and rational way using data & facts rather than intuition to guide us.
Risk management
The Company has set a broad risk management framework which is monitored by the Board of Directors and the senior management. Business and investment risks are regularly monitored and the company advocates a strong culture of risk awareness within the company. Our risk policies identify approval authority levels and reporting requirements. Some risks are actively managed while some others are monitored regularly or on an as needed basis. All measures for dealing with business risks are incorporated into the strategic plans of the company and responsibility for dealing with them delegated to appropriate personnel via the action plans.
Professionalism
GFM has also addressed the need to keep all staff uptodate on the changes taking place in the investment industry, regulatory and compliance requirements in order to ensure professionalism in handling investments. Staff training and development will be emphasized over the ongoing financial year. A Code of Ethics and Standards of Professional Conduct govern all staff who are signatories to this document.
Advisory Services
Should a client require further professional advisory services, GFM also has the ability to make these available through Carsons Management Services (Pvt) Ltd., the management service provider to the Carsons Group. The available professional services include tax advisory, legal advisory, company secretarial services, finance & treasury management.
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