- NDB Wealth Growth Fund will no longer charge the 2% front-end fee.
- NDB Wealth Growth and Income Fund will eliminate its 1.5% front-end fee.
Colombo, Sri Lanka, July 2024 – NDB Wealth Management Limited, the largest private sector fund management company in Sri Lanka recently announced the waiver of front-end fees for its equity funds making it more accessible to retail masses. Effective immediately, the NDB Wealth Growth Fund will no longer charge the 2% front-end fee on investments. This significant initiative aims to encourage new investments during a critical period of economic recovery.
With domestic markets currently experiencing a recovery, NDB Wealth believes this is an optimal time for investors to consider equity funds. With market interest rates dropping to one-year low levels, investors are seeking tax efficient investments with potential to gain better returns. By waiving front-end fees, NDB Wealth is lowering the cost of entry, thereby maximizing potential returns for investors who seize this opportunity.
Vice President, NDB Wealth Management LTD – Amaya Nagodavithane stated: “The NDB Wealth Growth Fund seeks to offer investors convenient access to equity investments through a professionally managed portfolio, requiring a minimum entry of Rs. 5,000, aiming to achieve capital growth on a medium to long term basis by investing in a diversified portfolio of stocks of stable companies with a proven track record.
The removal of platform fees allow investors to allocate their entire investment amount into the fund without losing a portion to front-end fees upfront, resulting in higher growth potential and improving overall cost-efficiency of their investment.
CEO, NDB Wealth Management LTD – Ruwan Perera noted: “At NDB Wealth our team of seasoned fund managers utilizes rigorous analysis and strategic investment approaches to navigate market complexities. The removal of front-end fees underscores the brand’s commitment to delivering value and supporting the financial goals of our investors.”
NDB Wealth is a fully owned subsidiary of 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. Since inception, the group – which includes NDB Bank, NDB Wealth, NDB Investment Bank, 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 clients across all NDB Group companies have benefited from the extensive product and service offerings of the NDB Bank and its affiliates.
