Ceylon Dollar Bond Fund, Sri Lanka’s first dollar denominated fund, which was launched recently received its first institutional investment from Melfort Green Teas (Pvt) Ltd.

The fund, which is rated ‘BB-‘ by Fitch Ratings is managed by Ceylon Asset Management Co. Ltd. and is licensed by the Securities and Exchange Commission of Sri Lanka, while Deutsche Bank AG acts as the trustee and custodian.

 The fund aims to provide US dollar returns by investing in Sri Lankan sovereign bonds, bank and corporate dollar funds, rated and listed on recognised global stock exchanges. Following the array of recent high yielding Sri Lankan dollar bond issues, the eligible investors gain diversified exposure to Sri Lankan issued dollar debt securities via the fund while avoiding the exposure to Sri Lankan rupee currency risk.