UTASL Appoints New Board Amid Significant Sector Growth 📈

The Unit Trust Association of Sri Lanka (UTASL) has announced its new Board of Directors for 2026–2027, with Jeevan Sukumaran (SENFIN Asset Management) appointed as President. The leadership transition occurs during a period of robust expansion for the Unit Trust industry. • Key Performance Indicators: Investor base has more than doubled over the last five years. Assets Under Management (AUM) have seen substantial growth, reflecting a shift from traditional savings to investment-aware behavior. • New Leadership Team: President: Jeevan Sukumaran (SENFIN Asset Management) Vice President: Kavin Karunamoorthy (First Capital Wealth Management) Secretary: Asanka Herath (Lynear Wealth Management) Treasurer: Wishan Perera (Softlogic Invest) • Strategic Priorities: Retail Participation: Focus on broadening the investor base beyond urban centers through financial literacy and education. Product Innovation: Plans to introduce Index funds, Exchange-traded funds (ETFs), and Shariah-compliant funds to diversify the market. Digital Transformation: Enhancing digital platforms to improve accessibility and transparency for capital market participants. Taxation & Regulation: Prioritizing clarity on tax treatment for unit holders and maintaining high governance standards under SEC oversight. The board aims to transition Sri Lanka toward an investment-aware society, ensuring growth is inclusive and aligned with national financial development objectives. Based on UTASL announcement dated March 13, 2026.