Promoted by the largest listed equity fund in Sri Lanka – Ceylon Guardian Investment Trust PLC (CGIT). CGIT is 67% owned by Carson Cumberbatch PLC a listed Sri Lankan conglomerate with business interests in oil palm plantations, brewing, investments, real estate and leisure sectors, spanning across South and South East Asia. Currently Carsons is among the top ten capitalized companies on the Colombo Stock Exchange and together with its subsidiaries accounts for over 10% of total market capitalization. Carsons strategic partners across its diverse business sectors include Carlsberg Denmark and Malaysia, Wilmar International, Singapore, KLM Royal Dutch Airlines, Northwest Airlines & Air France and Unit Trust of India amongst others. Its key non Sri Lankan business interests include 100,000 ha of oil palm plantations in Indonesia and Malaysia.
Carson Cumberbatch PLC (CCPLC) is a diversified conglomerate listed on the Colombo Stock Exchange with business interests spanning across Sri Lanka and the South and South East Asian regions. The investment business of Carson Cumberbatch PLC (CCPLC) consists of three investment companies, two of which Ceylon Guardian Investment Trust PLC and Ceylon Investments PLC, are listed on the Colombo Stock Exchange (CSE). These companies hold and manage portfolio of investments as their sole line of business.
CGIT is only one of few long standing investment trusts listed on the Colombo Stock Exchange and is a specialist equity portfolio valued at USD 100mn (Rs. 10bn) as at present, focused on listed stocks and private equity ventures. It is managed by Guardian Fund Management Limited (GFM), the 100% owned asset management subsidiary of the Carsons Group. GFM is registered as an Investment Manager with the Securities and Exchange Commission of Sri Lanka, the capital markets regulator. The Guardian Fund’s portfolio has grown at a CAGR of 16.97% from 31.03.2006 to the end of the latest quarter while the All Share Price Index and Milanka Price Index of the CSE grew on average at 18.77% and 13.94% respectively over the same period.
The flagship company of the investment business is Ceylon Guardian Investment Trust PLC (CGIT), while Ceylon Investments PLC (CI) and Rubber Investment Trust Limited (RITL) are its two subsidiaries. The corporate structure of the investment business is given below,
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