The fund will provide foreigners and Sri Lankans working or living abroad an easy route to gain exposure to a diversified portfolio of Sri Lankan equities, according to Heraymila Capital (Private) Limited.

Heraymila Capital (Private) Limited unit trust fund — the Sri Lanka — Heraymila Capital Growth Fund.

The Sri Lanka Heraymila Capital Growth Fund is an open-ended, equity growth fund and will primarily invest in shares listed on the Colombo Stock Exchange.

The units were priced at LKR10 during the initial offer period from Jan. 17 to Jan. 31.

Investors can now subscribe for units at the fund manager’s prevailing selling price, which is calculated daily.

Being an open-ended unit trust fund, investors can subscribe to and redeem units in the fund on any market day.

The minimum investment to participate in the fund is LR10,000.

The fund is ideal for investors who do not have the time or expertise to select individual securities and have a longer term investment time horizon in mind (three to five years).

The Fund Manager, Heraymila Capital (Private) Ltd., is confident in the growth prospects for post-war Sri Lanka.

It says the country is poised for aggressive growth in the next decade.

Sri Lanka has achieved a GDP growth rate of 8.3 percent for 2011 and is expected to record a GDP growth rate of 8.0 percent in 2012, said a press release.

Heraymila Capital (Private) Ltd., a company incorporated in Sri Lanka and licensed by the Securities and Exchange Commission of Sri Lanka, managed the fund.

The fund manager is a wholly-owned subsidiary of Heraymila Investments Limited (HIL), which currently manages around $300 million in assets. HIL is the holding company for the Al-Mashal family’s offshore investments.

One of the larger family offices in Saudi Arabia, Al-Mashal has substantial stakes in major regional companies and across international assets.