CSE relaxes investment restrictions

6 November 2012 09:46 am Views - {{hitsCtrl.values.hits}} 6 Bookmark

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The Department of Inland Revenue has lifted investment restrictions placed on private pension and provident funds, along with gratuity, trust and savings funds, the Security and Exchange Commission said.

The new gazette now enables a higher maximum exposure of 20% of the funds to debentures and other stocks.

A further 40% of all funds are required to be invested in government securities whilst the remainders of the funds are to be invested by way of deposits in other commercial banks.

Prior to the new gazette, such funds were directed to invest a minimum of 50% into the National Savings Bank or into government securities at which point, the remaining 50% could be invested by way of deposits in other commercial banks. (Channa Fernandopulle)

Comments - 6

Mafia Tuesday, 06 November 2012 09:53 AM

Great news.

9 9

ben Tuesday, 06 November 2012 10:26 AM

Hi guys I'm 17 and I cant understand this, can someone explain this in a much better way so that I can understand??

0 8

Danushka Desilva Tuesday, 06 November 2012 12:08 PM

why not take the whole thing? naduth hamuduruwange baduth hamduruwange. EPF is the biggest fund in SL amounting in trillions, ekath iwarai

2 16

Vigilant Wednesday, 07 November 2012 04:23 AM

Take your provident fund/gratuity balance as soon as you can. These thieves are playing with our savings!

0 4

jalahutan Wednesday, 07 November 2012 05:03 AM

trillions is good money close up total budget. wow.

0 1

Roshan Wednesday, 07 November 2012 05:30 AM

Why the Govt is more worried about the CSE? Is that they want more inocent investors to pump their hard money and get played out by the Mafias?

0 2

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