National Asset Management

What National Asset Management does

National Asset Management Limited (NAMAL), founded in 1991 and headquartered in Colombo, Sri Lanka, is a privately-held asset management firm operating as a majority-owned subsidiary of Union Bank of Colombo PLC. The company is Sri Lanka's pioneer unit trust management company, launching the country's first licensed unit trust (National Equity Fund) and subsequently the first listed unit trust (NAMAL Acuity Value Fund). NAMAL serves Sri Lankan retail investors, high-net-worth individuals, and institutional clients through a portfolio of five unit trust products spanning equity (National Equity Fund, NAMAL Growth Fund) and fixed income (NAMAL High Yield Fund, NAMAL Income Fund), supplemented by a Private Wealth Management (PWM) service for clients with a minimum investment of LKR 25 million.

The firm distributes and manages investments through a multi-channel platform comprising a self-service online portal (app.namalfunds.com), a mobile application, relationship managers, dedicated wealth advisors, and physical branch offices in Colombo (headquarters) and Jaffna. Revenue is generated primarily through recurring management fees on unit trust AUM, ranging from 0.50% (NAMAL High Yield Fund) to 1.55% (National Equity Fund), plus registrar, trustee, and front-end fees on equity products, and advisory/portfolio management charges under the PWM service. All products are denominated in Sri Lankan Rupees with no foreign currency offerings.

NAMAL is licensed and regulated by the Securities and Exchange Commission of Sri Lanka (SEC), and its ownership structure provides institutional credibility: Union Bank of Colombo PLC holds a 51% controlling stake (acquired February 2011), DFCC Bank PLC holds 30% as a founding shareholder, and Ennid Capital (Pvt) Limited holds 19% (acquired February 2011). The firm employs 11–50 staff and operates exclusively within Sri Lanka, with no disclosed foreign-currency denominated investment plans or international footprint.

Name

National Asset Management

Legal name

National Asset Management Limited

Website

https://namalfunds.com

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

11–50 employees

Short description

National Asset Management Limited (NAMAL) is a Sri Lankan asset manager founded in 1991, operating five unit trusts across equity and fixed income plus Private Wealth Management services for HNWIs. It is a majority-owned subsidiary of Union Bank of Colombo PLC, regulated by the SEC of Sri Lanka.

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910)

akta.pro primary industry

Discretionary Portfolio Management (DPM) (FSAAABAC)

akta.pro secondary industries

Private Banking & UHNW Wealth Advisory (FSAEABAC), Private Client/High-Net-Worth Advisory (FSAEAAAN)

Keywords

• Unit trust management
• Asset management services
• Wealth management advisory
• Mutual fund management
• Portfolio management

Headquarters

HQ city

Colombo

HQ country

Sri Lanka

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Unit Trust Management Fees: NAMAL charges management fees on its five unit trusts: National Equity Fund (1.55% management fee), NAMAL Growth Fund (1.50%), NAMAL High Yield Fund (0.50%), and NAMAL Income Fund (0.60%). Additional fees include registrar fees (0.25% for National Equity Fund) and trustee fees (0.20% for National Equity Fund).
2. Private Wealth Management Services: Tailor-made portfolio management services for high net worth individuals with minimum investment of LKR 25 million. Revenue generated through advisory fees and portfolio management charges.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

National Asset Management Limited (NAMAL) operates as Sri Lanka's pioneer unit trust management company, offering five professionally managed unit trusts (two equity funds and two fixed income funds, plus the listed NAMAL Acuity Value Fund) that invest in equity securities, government debt, and corporate fixed income instruments. The company also provides a Private Wealth Management (PWM) service for high-net-worth individuals requiring customized, multi-asset portfolio solutions with a minimum investment threshold of LKR 25 million.

Product overview

NAMAL operates as Sri Lanka's pioneering unit trust and wealth management company offering five core investment products: two equity funds (National Equity Fund and NAMAL Growth Fund) providing stock market exposure with different risk profiles, and two fixed income funds (NAMAL High Yield Fund and Namal Income Fund) for conservative income-focused investors. Additionally, the Private Wealth Management service provides bespoke portfolio management for high-net-worth clients. The company also provides wealth management advisory services and operates a digital portal for investors to access their investments.

Differentiator

Problem solved

Functional benefit

Brands

• National Equity Fund: Balanced fund investing a maximum of 80% in diversified portfolio of equity securities, with remaining assets in fixed income securities. Aimed at medium to long term returns with income and capital growth objectives.
• NAMAL Growth Fund
• NAMAL High Yield Fund
• Namal Income Fund

Products and services

• National Equity Fund Balanced equity fund aimed at medium to long-term returns for individual investors, investing up to 80% of assets in a diversified equity portfolio with the balance in fixed income securities. Minimum investment LKR 1,000; management fee 1.55%.
• NAMAL Growth Fund Equity fund targeting long-term capital growth for investors willing to accept higher risk, investing up to 90% in the Sri Lankan stock market through selected high-quality stocks. Management fee 1.50%.
• NAMAL High Yield Fund Open-ended money market fund for conservative investors seeking liquidity, investing in investment-grade rated debt instruments, deposits, and government securities maturing in under one year, with daily interest accrual and anytime withdrawals without penalty. Minimum investment LKR 10,000; management fee 0.50%.
• Namal Income Fund Fixed income fund designed to provide semi-annual income at medium risk through a diversified portfolio of government and corporate debt securities. Minimum investment LKR 10,000; management fee 0.60%.
• NAMAL Acuity Value Fund Sri Lanka's first listed unit trust, expanding NAMAL's pioneering unit trust offerings for investors seeking exchange-listed fund exposure.
• Private Wealth Management (PWM) Tailor-made discretionary portfolio management service for high-net-worth individuals, enabling construction of customized single- or multi-asset-class portfolios aligned with the client's investment requirements and risk appetite. Minimum investment LKR 25 million.

Quantifiable outcome

• National Equity Fund surpassed ASPI by over 40% in 2020

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Invesco: Global independent investment management firm operating mutual funds, ETFs, and discretionary mandates across emerging and frontier markets. Comparable as a broad incumbent in the asset/wealth management category with far greater scale and product breadth.
• Union Bank of Colombo PLC: NAMAL's 51% parent company and Sri Lankan commercial bank. Comparable as a financial group that includes asset management, though its core business is retail/corporate banking rather than dedicated fund management.
• DFCC Bank PLC: NAMAL's 30% shareholder and a major Sri Lankan development bank offering treasury, wealth, and corporate finance services. Comparable as a broader incumbent financial institution with overlapping wealth management capabilities, though DFCC's primary business is lending rather than asset management.
• abrdn (formerly Aberdeen Asset Management): Global asset manager with extensive emerging/frontier market fund offerings including Sri Lankan equity and Asian fixed income products. Comparable as a broad incumbent in the same asset management category with international scale advantages over NAMAL.

Regional players

• Acuity Partners: Sri Lankan investment advisor (named alongside NAMAL in the NAMAL Acuity Value Fund). Comparable as a regional investment advisory and capital markets participant with overlapping expertise in Sri Lankan equity research and portfolio construction.

Direct peers

• HNB Wealth Management: Subsidiary of Hatton National Bank, one of Sri Lanka's largest banks, managing unit trusts and wealth advisory for retail and HNW clients. Closely comparable to NAMAL in product mix, distribution channels, and bank-parent structure.
• CTI Capital: Sri Lankan investment management and stockbroking firm offering equity research, asset management, and corporate advisory. Comparable as a domestic competitor in Sri Lankan capital markets intermediation and portfolio management.
• NDB Wealth Management: Wealth and fund management arm of National Development Bank PLC in Sri Lanka. Directly comparable as a bank-affiliated local asset manager offering unit trusts and portfolio management services to retail and HNW clients in the same domestic market.
• Asia Asset Management PLC: Sri Lankan fund management company managing unit trusts and private portfolios. Directly comparable as a local mutual fund operator serving the same investor segments and product categories as NAMAL.
• Softlogic Asset Management: Sri Lankan financial services group with asset management operations serving retail and institutional clients locally. Comparable as a domestic asset manager competing for Sri Lankan unit trust and discretionary mandates.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/nationalassetmanagement
• LinkedInlinkedin.com/company/namalfunds

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about National Asset Management