"Commission" means the Securities and Exchange Commission of Sri Lanka established by the Securities and Exchange Commission of Sri Lanka Act No. 36 of 1987.
“Colombo Stock Exchange” means the only stock exchange in Sri Lanka for secondary market trading in equity securities.
"Dealing Day" means a day on which the banks are generally open for business in Sri Lanka whereby a Unit Holder could effect subscription for units and redemption of units.
"Memorandum/Prospectus" means the document containing information of a unit trust inviting members of the public to subscribe to or purchase units in the unit trust.
“Front-End Fee" means the difference between the issue price and the portion of the proceeds from the sale of a unit which is received by the Manager.
“Fund” means a Unit Trust constituted by a Trust Deed between the Manager and the Trustee, with the approval of the Commission.
“Gilt-Edged Fund” means a unit trust that invests only in several different types of government securities.
“Growth Fund” means a unit trust whose aim is to achieve capital appreciation by investing primarily in equity securities.
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"Manager" or “Fund Manager” means a managing company licensed to operate a unit trust under the Securities and Exchange Commission of Sri Lanka Act No. 36 of 1987 as amended.
"Managers Buying Price" means the sum the Manager would require to pay the Unit Holder for redeeming one unit
"Managers Selling Price" means the sum the Manager would require the Unit Holder to pay for the issue of one unit.
“Management Fee” means the only payment to be made to the Manager by the Trustee out of the deposited property as remuneration for the services rendered.
”Money Market” means a market where securities with a maturity of less than one year are transacted.
“Money Market Fund” means a unit trust whose aim maximize short term current income whilst ensuring ease of liquidity by investing in a portfolio of Money Market Instruments.
“Money Market Instruments” means securities such as government securities (treasury bills and treasury bonds), bank deposits, repurchase agreements and corporate debt instruments with maturities less than one year,
"Net Asset Value” or “Deposited Property" means all the net assets for the time being held or deemed to be held by the trustee on behalf of the unit trust and subject to the provisions of the Trust Deed.
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"Net Asset Value per unit” means the Net Asset Value divided by the number of units in issue
"Open End Unit Trust" means a unit trust, which after the initial offer period continues to issue new units and redeem units in issue, until the liquidation of the fund.
"Redemption" means the purchase of units from a unit holder by the Manager as principal and "redeem" and "redemption price" shall be construed accordingly.
“Trust Deed” is the deed/s between the unit trust managing company and Trustee that form of the unit Funds”. Each unit trust Fund is constituted by a separate Trust Deed.
"Trustee" means a Trustee who has been approved by the Commission.
“Trustee Fee” means the only payment to be received by the Trustee out of the deposited property as remuneration for the services rendered.
“Unit” means one undivided share in the Fund.
“Unit Holder” means the person who is entered in the Register as the Holder of a Unit at a given point of time and includes persons so entered as joint Holders.
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“Unit Trust Code” means the Unit Trust Code framed by the Commission under the Securities and Exchange Commission of Sri Lanka Act No.36 of 1987 and any amendments made thereto.
