More than a decade of unparalleled service, commitment to excellence, innovation and above all our expertise in managing the myriad aspects of Sri Lanka’s financial markets has made the NatWealth Group in to one of the most trusted and reliable names in Sri Lanka’s financial services industry. The NatWealth Group is 100% owned by the Mahapola Higher Education Scholarship Trust Fund that contributes towards an educated society by providing scholarships to university under graduates. The company has a wealth of experience and has successfully navigated through the waters, taking clients interest to their desired destinations. The Group comprises National Wealth Corporation Limited and NatWealth Securities Limited both incorporated in 2003 with complementary objectives. A 15 year old story unravels with a series of exiting unparalleled chapters, each giving unique experiences which has been mutually rewarding to both client and company.
At NatWealth, our greatest passion is to constantly create value for our stakeholders by strengthening our core competencies, managing risks and seizing the best opportunities to meet our customers’ expectations. The hallmarks of our professional service are not only in a technical sphere but in an individual human touch and warm relationships, spread across many years.
The National Wealth Corporation Limited specialises in a range of financial services in Sri Lanka including Fund Management, Corporate Debt Structuring and Asset Management. The business entity is wholly owned by the Mahapola Higher Education Scholarship Trust Fund administered under the purview of the Ministry of Higher Education & Cultural Affairs. It is licensed by the Securities and Exchange Commission of Sri Lanka as an Investment Manager.
The objectives in forming the Company was to manage/administer the Mahapola Higher Education Scholarship Trust Fund giving higher returns and to manage the Government-owned and Private Sector Funds professionally and efficiently, ensuring high standards of security and attractive yields.
We believe in the philosophy of a steady income, built up over a period of time, that overcomes composite hurdle rates. As a company we continuously review our strategies with the ever changing market landscape and develop appropriate plans to result in superior returns. With the adherence to rules, laws, regulations guidelines of the Securities and Exchange Commission of Sri Lanka ,Inland Revenue Department and the Auditor General’s Department gives the opportunity to perform even better.
A Licensed Primary Dealer, dealing exclusively in Government Securities, is regulated by the Central Bank of Sri Lanka. NatWealth Securities Limited offers a basket of investments including Treasury Bills, Treasury Bonds, Sri Lanka Development Bonds and Repos with varying risk characteristics, diversified to balance returns that will be discussed with our professional financial advisors. Our small team of experienced professionals gives service with a personalized touch for the delivery of service from client confirmations to system updates. The client can rest assured the funds are safe with a team that has his security at its core.
The customer loyalty is rewarded in this company that focuses mainly on the long term steady growth.
The Natwealth Group’s vision is “To be a Leader in the financial industry encompassing wealth creation in a corporate environment that endorses superior services”.
The Natwealth Group’s mission is “To seek and create a financial group of par excellence to achieve and generate superior objectives with state of the art technology and managerial capabilities to accomplish stakeholders’ expectation and forge ahead with Mahapola's creation of an educated society”.
We provide our sole shareholder with the maximum returns for their investment with minimum risk.
We provide clients the service they deserve and strive to exceed their expectations.
We embrace professionalism and seek excellence in everything we do.
We value our employees and seek to harness their full resource potential by continuous training and development.
We do our best to assist our social environment by being a responsible citizen for the well-being of our community.
We work within a framework of regulatory compliance, to sustain stakeholder value by the creation and optimization of good corporate governance.
Mr. Kesarralal Gunasekera is the Trustee of the Mahapola Higher Education Scholarship Trust Fund and he was the former deputy mayor of the Dehiwala/ Mt. Lavinia Municipal Council. Mr. Gunasekera was a former Member of Parliament. He served as an Executive Director of NatWealth from 2005 to 2012 and he served as a chairman of National Lotteries Board and Associated Newspaper of Ceylon Ltd. Mr. Gunasekera served as a Managing Director of Ceylon Shipping Lines (Pvt) Ltd, Ceylon Port Services Limited and Sri Lanka Libya Agriculture Development Company. He served as a director of the SLIIT, Central Cultural Fund, Tower Hall Foundation and Sri Lanka Port Management & Consultancy Services Ltd. He was the former Financial Accountant at Swedish Trading Company Ltd. Mr. Gunasekera served as a Co-ordinating Secretary for several ministries.
Mr. Gunasekera is finalist of the Institute of Chartered & Management Accountants.
Mr Nirosh De Silva, has over 25 years of experience in the Sri Lankan Capital Markets. He commenced his career at Vanik, in 1993 and moved to Hatton National Bank to set up its Corporate Finance and to support its infrastructure finance business. In 2000 he moved to Ayojana, a CDC / NDB joint venture private equity initiative as its fund manager. In 2002 Mr De Silva ventured into setting up his own business in partnership.
Today Mr de Silva is the Managing Partner of Horizon Partners Ltd. Mr De Silva has extensive investment banking, commercial banking and investment related experience. Mr De Silva has experience in change management and restructuring and specializes in advising family groups in the inter-generational transitioning.
Mr. Silva holds Bachelor of Arts in Economics & Business Administration from Franklin & Marshall College (F&M), USA. He is a Chartered Financial Analysts (CFA), Association of Investment Management & Research.
He has served as a director of Asia Asset Finance, a director of Orion Capital Partners, Orion Fund Management (Pvt) Ltd, GTB Colombo Corporation Limited, Union Resorts (Pvt) Limited, Lion Brewery Ceylon PLC and Asian Cotton Mills PLC. Mr Silva is currently serving as a director of Horizon Partners Ltd.
Mr. Kishan Karunaratne is the Managing Director of Next Day Technologies (Pvt) Ltd and Director of Serendib Ventures (Singapore) Ltd. Mr. Karunaratne served as a Manager Corporate Banking at Union Bank of Colombo and Manager at Waldock Makcenzie Limited. He served as the working director and Board member of Urban Development authority.
Mr. Karunaratne holds his MA Economics & International Relation at University of Aberdeen, Scotland U K
Our Corporate Team comprising of well experienced, qualified, skilled professionals manage our business with professionalism, integrity and commitment:
Mr. Nimal Meegolla counts more than 40 years of experience at the Bank of Ceylon (BOC). While at BOC, he worked in the Dealing Room of its Treasury Division for 22 years and rose from Asst. Dealer to the position of Chief Dealer where he served for 6 years. He also worked as a Dealer in the BOC London Branch for 3 years and gained experience and exposure in international markets.
Mr. Meegolla is currently one of the most experienced Dealers in Foreign Exchange, Money Market and Fixed Income Securities in Sri Lanka. He has also served as the Head of Asset and Liability Management Unit of BOC from 2013 to 2014.
Mr. Achan Chandula has been at NatWealth since 2006 and counts over 12 years of experience in Finance and Accountancy. He worked at Seylan Bank Asset Management Limited prior to joining the NatWealth Group.
Achan holds a Bachelor of Finance (Special) Degree from the University of Sri Jayewardenepura and is an Associate Member of the Association of Chartered Certified Accountants, UK.
Ms. Manori Ranasinghe counts over 17 years of experience in Primary Dealer Industry beginning her career from Ceylinco Securities and Financial Services Limited (presently Nations Lanka Finance PLC) and HNB Securities Limited prior to joining NatWealth in January 2006.
She is a Certificate holder of Institute of Bankers of Sri Lanka and holds Diplomas in Treasury Management and Business Management.
Mr. Dilshan Fernando has been at NatWealth since 2013 and counts more than 15 years of experience in the industry having previously worked at Ceylinco Shriram Securities Limited and First Capital Treasuries Limited.
Dilshan is an Associate Member of the Sri Lanka Institute of Credit Management and a Diploma in Treasury and Risk Management from the Institute of Bankers of Sri Lanka.
Sandeep Fernando has over 10 years’ experience in Investment Banking industry. Starting his career as a stock broker ,
His experience range from government securities to corporate debt. Before joining Nat Wealth he worked at Capital Alliance. Was instrumental in structuring Debentures for Banks, Finance companies and Corporates.
Mr. Aruna Somarathna counts over 17 years of experience in the field of Information Technology. Prior to joining NatWealth Group, he worked at CKL Computer Services (Pvt) Ltd.
Aruna holds a Bachelor of Computer Science (Special) Degree from the Open University of Sri Lanka.
A new Board of Directors took office of NatWealth in early 2017 and has steered both companies progressively since then.
The Main Board of both companies, comprise of 05 Non-Executive Directors with backgrounds in a variety of disciplines and their collective insight, knowledge and experience is valuable in implementation of strategies to enhance profitability. They give further impetus to the control framework to ensure the effective implementation of same, with assurance on accountability, risk and corporate governance.
The Board has appointed two sub-committees, the Board Audit Committee (BAC) and the Board Risk and Investment Committee (BRIC) in which 04 Directors each sit on. These two committees ensure that a sound Corporate Governance framework is adhered to by both companies and Risk Mitigation measures are in place.
The BAC assists the Board in discharging its responsibilities and exercises oversight over financial reporting, internal audit and external audit. They review the appropriateness of accounting policies and ensure adherence to statutory & regulatory compliance requirements and accounting standards. They will ensure that highest corporate governance practices, conforming to the highest ethical standards and good industry practices in the best interest of stakeholders are followed. The company’s Internal Auditors are Ernst & Young, Chartered Accountants and carries out an Internal Audit on a monthly basis, whereas the Auditor General’s Department. is responsible for the External Audit. These provide further assurance to the soundness and resilience of policies to support business operations. The mix of private & public sector views and recommendations for improvement are complementary. This enables the companies to evolve into having a robust control environment while operating with transparency. Public accountability aspect moves beyond the Auditor General to the Parliamentary Committees, Board of Trustees of Mahapola Higher Education Scholarship Trust Fund (MHESTF), Ministry of Higher Education & Cultural Affairs and other stakeholders.
The BRIC supports the Board in reviewing the risk environment and the risk indicators as applicable to both companies, with a view of determining the adequacy of such indicators to serve the intended risk management objectives and take proactive measures to minimise and mitigate risk exposures. It also ensures that an improved effective risk related policy framework is in effect in both the companies.
The BRIC’s responsibility is towards the effectiveness of the compliance function to assess the company’s compliance with laws, regulations, regulatory guidelines, internal controls and approved policies in all areas of business operations.
The performance of the NatWealth group and the MHESTF managed by us is reported to the Board of Trustees of Mahapola Trust Fund on a regular basis.
Achieving returns exceeding the pre-defined benchmark return to the MHESTF is a key objective and is monitored closely. The Securities and Exchange Commission of Sri Lanka along with its “Investment Manager” license and the Central Bank of Sri Lanka “Primary Dealer” license enables the NWCL & NWSL to commission its activities respectively, generating returns to its sole shareholder MHESTF. Both regulators conduct periodic reviews ensuring compliance to its directions, making recommendations for corrections as appropriate. As per regulatory requirements, the financial statements of the entities are published and are available for common scrutiny.
The above is an insight into areas of corporate governance, compliance, accountability and assurance that the NatWealth group provides to its clients and other stakeholders in its business operations.
NatWealth Group has been in the forefront as a trusted and reliable service provider, empowering our clients to realise their objectives through the financial solutions offered by us.
National Wealth Corporation Ltd is an Investment Manager licensed by SEC. It provides asset management services to both corporate & individual clients. Currently among its clientele is the foremost educational fund of Rs. 8 Billion, the Mahapola Higher Education Scholarship Trust Fund.
Asset management companies provide investors with more diversification and investing options that they would have by themselves. It’s a specialized business service intent on supporting clients build and maintain wealth. We work in association with other financial professionals including brokers, strategists and advisors to maximize an investor’s wealth creation opportunities.
National Wealth Corporation Ltd carries out asset management by investing in a variety of instruments ranging from government securities, asset backed trust certificates, debentures, commercial papers, fixed deposits etc. The risk profile of investor is understood by our professionals and a customized agreement formulated. Portfolio performance, returns and market development updates are shared through periodic reports to investors.
Being a licensed Primary Dealer in Sri Lanka enables NatWealth Securities Limited to participate in primary auctions conducted by the CBSL for Treasury Bills (investments up to one year), Treasury Bonds (investments beyond one year), Sri Lanka Development Bonds and the other instruments issued by them on behalf of the Government of Sri Lanka.
Our years of expertise in the industry enables us to engage in the secondary market in Treasury Bills, Treasury Bonds and other Government and CBSL Securities by participating in auctions offered by the Department of Open Market Operations (OMO) and Accessing the CBSL Repo and Reverse Repo Discounting Windows.
We are also able to assist our retail and corporate clients by:
The Company also promotesand develops the Secondary Market in Treasury Bills, Treasury Bonds and other Government and CBSL Securities by:
Being at the top means that we at NatWealth have got to constantly innovate and adapt according to the market trends. Dedicated and comprehensive market research is conducted by the Company in examining trends in Sri Lankan macro statistics and global factors to arrive at yield curve forecasts and market positioning.