Business
JB Vantage Money Market Fund affirmed A+ by ICRA
JB Financial (Pvt) Ltd, a specialist asset manager, investing in a range of investment grade debt instruments, equity and gilt-edged securities received a credit risk rating of [SL]A+mfs (pronounced as Sri Lanka A plus m f s) for its JB Vantage Money Market Fund (JBMMF) recently from ICRA Lanka Limited.
The fund is the second largest Money Market Fund in terms of assets under management (AUM) in Sri Lanka with Rs.18.82 billion as at December 2020. The fund was initiated on August 4, 2011 and has been in existence for nearly a decade consistently outperforming the benchmark (NDBIB CRISIL 91-day T-bill Index).
Deutsche Bank AG acts as the trustee of the JBMMF, and ensures that the fund manager operates according to the investment mandate to achieve the goals and objectives while safeguarding investors’ interests. The fund is regulated by the Securities and Exchange Commission on a regular basis to ensure compliance with regulatory requirements. The JBMMF has been a consistent winner at the CFA Capital Market Awards for best unit trust, winning the Gold award in 2016 and 2017 and the Bronze in 2018 and 2019.
Speaking on the rating Christine Dias Bandaranaike (CFA), CEO of JB Financial (Pvt) Ltd and Fund Manager of the JBMMF said, “The rating reflects our solid position as a leading specialist investment manager. We have over the past few years grown the Fund’s AUM while maintaining a robust risk management framework and sound financial metrics in line with the investment mandate. The rating further signifies the relative prudence of the fund which only invests in companies which are willing to subject themselves to an external rating and are therefore transparent with their financials. As part of our investment mandate, we only invest in companies that are considered Investment Grade, that is rated BBB- and higher by an external rating agency. Investments in the BBB rated category is further restricted up to an average of 30%, while the remaining is invested in A rated and above companies in order to manage and mitigate credit risk more prudentially.”
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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