- Citizens of Sri Lanka who are resident within Sri Lanka and above 18 years of
- Companies, corporations or institutions incorporated or established within Sri Lanka
- Approved provident funds and approved contributory pension schemes registered/incorporated/established in Sri Lanka
- Non-residents: Persons who are not residents of Sri Lanka, companies with limited liability or bodies corporate established/incorporated outside Sri Lanka
Yes, you can invest in a fund with a joint account holder. If the proposed secondary accountholder is not already an investor of Guardian Acuity Unit Trust Funds, you are required to submit a KYC for the joint account holder along with the necessary KYC validation documents.
If the funds and relevant documents are verified and received after 3.00 pm on any working day, Units are allocated based on the closing unit price on that day. If the funds and relevant documents are verified and received before 3.00 pm on any working day, Units are allocated based on the previous day’s closing price.
Yes, a maximum of up to two nominees can be appointed for the cumulative investment in all applicable Guardian Acuity Funds that the investor has invested in. The nominees can be appointed by selecting the “option appoint a nominee/nominees” in the initial subscription form and subsequently filling in the Nominee Form which should be submitted to your Guardian Acuity investment advisor or the Operations team.
Yes, to make a fixed periodic investment to any of the funds, the investor should submit a copy of the standing order facility obtained from the relevant bank along with the standing order request form.
Subsequent subscriptions can be made by making an e-mail request to email@example.com specifying the investment value, investment fund and NIC No: along with a copy of the deposit slip/ fund transfer. Alternatively, investors could submit form A3 in place of the E-mail request.
For a partial redemption it is required that a minimum value equivalent to 100 units remain in the respective funds.
A redemption can take a maximum of up to 3 working days.
An investor’s investment value in a Unit Trust Fund is determined based on the Unit Price as at date. Unit prices are variable and subject to change, driven by the risks associated with the underlying instrument the fund invests in. This is mainly applicable for Equity Unit Trust Funds where Unit Prices reflect the change in share prices. But this can also be applicable for Unit Trust Funds invested in fixed income securities, which are exposed to risks such as default.
As per LKAS 39: Financial Instruments Recognition and Measurement, Unit Trust Fund Investments are recognized in the balance sheet as either a Short Term Financial Asset (Fair Value Through Profit or Loss) or a Long Term Financial Asset (Available For Sale) financial asset depending on the intent on the holding period. Investment gains/losses are reflected in the income statement as a Mark-to-market gain/loss.
As per the Inland Revenue Act, the currently applicable Tax Treatment for Unit Trusts is as follows.
Tax at Source (Withholding Tax - WHT)
Tax at Fund Level (Deductible against the WHT)
Tax at Investor Level