Sri Lanka to allow FIs in unit trusts

Sri Lanka’s central bank said it would allow foreign investors (FIs) to buy into local unit trusts for the first time, one of several new foreign exchange relaxations it introduced to facilitate post-war economic expansion.  Sri Lanka’s unit trust market is worth 26 billion rupees ($236.7 million), and opening it to foreign investment could help alleviate one of institutional investors’ complaints — that the Colombo Stock Exchange has few shares with a large enough free float to be attractive to big players. “Considering the advantages in promoting the investment in unit trusts and to broaden the investor base ... the central bank.” From / Gulf Today