Softlogic Archives - Page 2 of 3

February 28, 2022

Colombo, Sri Lanka, 27 February 2022 – Softlogic Retail (Pvt) Ltd., a fully owned subsidiary of Softlogic Holdings PLC, launched its all-new range of aesthetically appealing and energy-efficient air conditioners under the MAXMO brand on February 27, 2022, at all Softlogic and Softlogic Max showrooms island-wide including via its ecommerce site, mysoftlogic.lk.

Speaking with the Chief Executive Officer of Softlogic Retail (Pvt) Ltd – Mr. Mohammed Rizvi stated: “The steady ascension of the MAXMO brand becoming a preferred choice for household appliances and devices can be directly attributed to the customer’s trust in Softlogic. With our wide spectrum of businesses within the retail space we have built a strong and loyal customer following who have come to trust us in bringing them the best brands to enrich their lifestyles. MAXMO is one such brand where we have witnessed immense appeal. We currently retail many home appliances under the MAXMO brand ranging from washing machines to a wide line up of small appliances. Today we are delighted to launch MAXMO Air Conditioners as the newest addition to the MAXMO family.”

MAXMO introduced two [02] types of air conditioners – Inverter ACs (with 3 BTU capacity options – 12000/18000/24000) and the Non-Inverter ACs (with 4 BTU capacity options – 9000/12000/18000/24000). The 12000 BTU option is ideally suited for a smaller living area, classroom or dining area (500-600 sq ft), with the 24000 BTU option ideally suited for a large area (Approx. 1,000-1,200 sq ft). In addition, MAXMO offers increasingly higher energy-saving and efficiency with use, allowing to minimize the overall electricity consumption, owing to its ‘Flexible Inverter’ technology, with a 10-year warranty. The flexible inverter technology saves energy by cooling based on the number of people in the room, automatically adjusting real-time. It also includes features such as copper condenser, anticorrosive Bluefin technology and R32 Eco friendly refrigerant. The service also extends to free site inspection and installation, up to 3 free services and 1 year comprehensive and up to 10 year’s compressor warranty.

Concluding, he said: “Staying true to Softlogic’s affirmation to provide the best-in-line products to customers at each price point backed by the highest quality of service, the MAXMO Air Conditioner brand is a welcome addition to the existing lineup of ACs at Softlogic which also include Panasonic, Samsung & TCL. At Softlogic, we believe that the MAXMO range of Air Conditioners will help more customers move from traditional fans to owning an air conditioner due to its affordability. It comes at an attractive monthly starting price of just Rs.1,682.”

Softlogic Retail has a host of attractive in-store offers; such as 0% interest-free instalment schemes on leading credit cards for up to 60 months, as well as 18-months interest-free hire payment plans under Softlogic’s ‘Poli Free Hithata Free’ scheme.

Softlogic is a local powerhouse in the Consumer Electronics and Furniture space offering a diverse range of popular leading International brands which include state-of-the-art TVs, Home Theatre Systems, Audio Systems, Refrigerators, Washing Machines, Air Conditioners, Laptops, Mobile Phones, Kitchen Appliances and Fitness equipment from some of the World’s Most Loved Brands such as Panasonic, Samsung, Dell, Nokia, Acer, Candy, Whirlpool, Softlogic Prizm, Apple, and TCL to name but a few. Softlogic Furniture delivers high-quality modern & contemporary furniture with a wide range of Sofas, Recliners, Beds, Mattresses & Bedroom Sets, Dining Tables, Wardrobes, Dressing Tables, Pantry Cupboards to make your home your haven and even offers an elegant selection of Office Furniture that includes Office Chairs, Executive Tables, Book Racks, Drawer Sets and more.

February 3, 2022

Marks a noteworthy addition of unitholders during a challenging year

February 3^rd, 2022: Softlogic Invest, posted a positive performance for the year ending in December, 2021. The Softlogic Equity Fund marked a 58% (for the year ended December 2021) return to investors while the Softlogic Invest Money Market fund posted an annualized return of 7.68% (As at 31st December 2021).

Since its inception in July 2020, the vibrant young Asset Manager secured returns of 73% (as at 31 December 2021) since inception for its equity fund investors amidst a challenging backdrop coloured by a debilitating global pandemic. Unlike most of the other unit trust funds, the Softlogic Equity Fund does not charge any front‐end fees and allows unit holders to invest the full value of their investment in the fund, without the deduction of any fees at the time of investment. The past year saw over 440 new unit holders joining the company’s equity portfolio, marking a significant growth in unit holders for the 2021 calendar year.

“We are delighted to post these numbers for the year 2021 while also remaining bullish on a commanding financial sector growth in 2022 driven by current rising interest rates and attractive valuations. Right now, our equity fund is well positioned to perform with a defensive and growth portfolio mix capable of optimizing portfolio returns, while investors with small ticket size values are able to gain from the buoyant stock market that prevailed during 2021. We believe that our rapidly increasing customer base is a strong indication of consumer trust in both our credibility and promising market conditions, and we are aiming to deliver an extremely rewarding year ahead as they continue to regularly build on their investments in 2022,” remarked Softlogic Invest Chief Executive Officer Niloo Jayatilake.

With an optimistic view of the year ahead, Softlogic Invest will distribute the total equity allocation for 2022, with impressive sector allocations to the Industrial sector (40%) followed by Financials (28%), Transportation (22%), and Consumer Discretionary (10%). The company’s top five equity allocations are Expo Lanka Holdings PLC, Royal Ceramics PLC, LOLC holdings PLC, HNB Bank PLC and Sampath Bank PLC. Expo Lanka Holdings PLC is projected to perform well in the current market context as its revenue is earned in USD and freight rates still portray a rising trend, while Royal Ceramics PLC will be able to command higher margins in the local market as the ban on tile importation has allowed the local tile manufacturer to utilize optimal plant capacity.

In turn, the Softlogic Invest Money Market fund, posted an annualized return of 7.68% by the year ending on 31st December, 2021, and thereafter moving up to 8.02% as of 19^th January, 2022. The company delivered these outstanding returns with investments of 76% in “A” category investments, to a bolstered investor base that grew by 3,500 new unit holders during FY2021, an impressive growth in unitholders.

“While we are thrilled to announce the exceptional performance of the fund during the past year, we sincerely believe that there is further room for yield improvement soon, since most of our lower-yielding investments are maturing and reinvestments are continuing to happen at higher yields. The money market fund’s weighted average portfolio duration is about 6.4 months and 43% of the portfolio investments will mature within the next six months, placing the fund yield in an extremely favourable position to gain yield advantage due to these maturities. Therefore, investors will continue to leverage the advantage of rising interest rates while being able to invest in a highly liquid diversified money market vehicle. Bolstered by the success of the past year, we believe the company is well‐placed to continue to deliver high quality, long‐term growth for all stakeholders in 2022,” Softlogic Invest Fund Manager Daham Hettiarachchi, stated.

With an ICRA Lanka ”(SL) A mfs” rating, the Softlogic Money Market Fund is an open-ended Unit Trust Fund approved by the Securities and Exchange Commission of Sri Lanka (SEC). The fund invests in government treasury bills, bonds and other government securities, investment grade corporate debt securities such as debentures, commercial papers, securitization papers and repurchase agreements with maturities of less than one year which can be readily convertible to cash. The overall objective of the Fund is to earn a return of interest income while preserving investor capital and liquidity.

December 31, 2021

Have you ever been in the middle of an exhilarating gaming session, only to end up losing it due to the lags on your screen? Or have you ever ended up not enjoying an otherwise good game because of the screen tears and poor sound? The pain is real.

For a seamless gaming experience, one needs a setup with low input lag, smooth frame rate, and an amazing sound. A display that can keep up with their quick actions and offer a sound that adds quality to the experience is every gamer’s dream.

What if we told you that you can get all that and more with your Samsung Smart TV? All you need to do is turn the Game Mode on, and you’re all set for an immersive gaming experience.

Follow these simple steps:

Connect PC to TV via HDMI
Go to Quick Settings
Turn Game Mode à ON
Long press Play/Pause to set up the Game Bar

The way people consume content is becoming more and more diversified as we find ourselves spending more of our leisure time in the comfort of our own homes. Even the way we enjoy movies is changing – increasingly, people are choosing to enjoy the latest releases via streaming or Over the Top (OTT) platforms instead of in a theater. But this change in viewing trends doesn’t mean that you should have to miss out on the immersive, cinematic experiences that movie theaters are able to provide.

Even for fast-paced action games, your display should be able to keep up without you missing a single moment of the game. In order to achieve this, the control your TV has over its LED lights is important for delivering details – which is why the 2021 Neo QLED 8K comes equipped with Quantum Mini LED for more precise control of thousands of tightly-packed LEDs.

Samsung Electronics’ proprietary micro-layer technology expresses images more vividly and accurately. Micro layers inside each LED eliminate unnatural noise among thousands of LED elements – the secret behind how these TVs can express all the fine details on-screen, including a character’s skin tone and even their drops of sweat.

Quantum Matrix Technology enhances the LED brightness level from 10-bit to 12-bit, which means that the TV can control its lighting up to 4,096 levels – four times more than conventional displays. The TV’s local brightness booster efficiently distributes power and improves peak brightness by harnessing unused electrical power from darker areas to brighter ones.

Alongside such milestones, Samsung is strengthening its ecosystem to guarantee a smooth transition. This allows consumers to have a convenient and easy technological experience that also paves way for a more sustainable, technologically rich future.

The Samsung Smart TV range is available for purchase at Samsung authorized partners; Softlogic, Singer, Singhagiri, Damro and on Samsung e-Store.

August 16, 2021

August 15^th, 2021: Softlogic Invest, the Asset Management arm of the Softlogic Group, recently celebrated one year of revolutionizing Sri Lanka’s investment landscape with their unique and innovative approach to making Unit Trust Funds accessible to a whole new generation of aspirational young investors. With a simplified, 6-step digitized solution related to “Dialog Genie” customers, a culmination of the best in financial investments and digital services, Softlogic Invest offers a highly rewarding, reliable investment option to Sri Lankan’s starting at just Rs.5000. Unit Trust fund values were Rs 2.6Bn whilst Private Wealth Management Funds were Rs 30.5 Bn.

With an ICRA Lanka ”(SL) A mfs” rating, the company’s Money Market Fund average yield at 7.73% (at 8^th July 2021) since inception over performed the traditional savings account return benchmark 3-5% within just an year of operating in a tough, pandemic-stricken backdrop. Exceeding a Unit Trust Fund value of Rs. 2.6 Billion with over 2800 new investors, Softlogic Invest was among the top five asset management companies in terms of unitholder share and is one of the highest contributors to industry growth in the openended fund category according to The Unit Trust Association of Sri Lanka.

The Company’s Equity Fund performed well providing investors with a return since inception of 23.46% (at 8^th July 2021). The fund manager also has under its portfolio Softlogic Life, which is the country’s fastest growing Life Insurer and is aggressively looking to expand with other Institutional Investors, Corporates and High Net worth individuals.

“When we first started Softlogic Invest, we set out to steer the 30-year-old investment sphere in an entirely new direction and focus on inspiring and empowering a whole new generation of young investors to start their journeys of financial freedom. I am proud to say that we have gone above and beyond our expectations and are well on our way to the top. Over the past year, our deeply committed team has worked tirelessly with passion to innovate new and better ways to not only acquire and retain customers, but to provide them attractive returns that help them realize their dreams. The company is continuing to gain tremendous momentum and we have no plans to slow down,” remarked Softlogic Invest Chief Executive Officer and Director Niloo Jayatilake.

“As a vibrant, young, fully homegrown entrant to the investment market, Softlogic Invest has completely changed Sri Lanka’s investment space within just an year of operations. In our mission to drive an investment culture in Sri Lanka, disruption and digital innovation remains the main focus of the company’s strategy. We understand that Sri Lanka has a growing audience that is keen to expand their investment portfolio and we’re extremely optimistic about what the future holds for Softlogic Invest,” stated Softlogic Invest Executive Director, Iftikar Ahamed.

The company also partnered with Asiri Hospitals to offer a novel solution where every newborn at any Asiri Hospital receives Rs 5,000 in a Softlogic Money Market Fund, securing a valuable investment for when the child reaches 18 years of age. These innovative solutions amongst a number of other initiatives in the pipeline have supported the exponential growth of the retail market and supported the company’s vision to make Unit Trusts available to financially empower young and aspiring Sri Lankans.

April 7, 2021

April 07, 2021: The fast-growing asset management arm of the Softlogic Group, Softlogic Invest is pleased to announce that their Money Market Fund has been assigned a rating of “[SL] A mfs” (Sri Lanka A rated mutual fund scheme) by ICRA Lanka Limited.

The fund that commenced operations in July 2020 has performed well despite the obstacles of the pandemic and as of 25th March, 2021, the Softlogic Money Market Fund has surpassed Rs. 1.5 billion in Assets under Management with over 1,300 unitholders, delivering an annualized current yield of 7.40%. These returns are delivered while maintaining over 80% in category A investments, which include A, A-, AA+ instruments.

“We are delighted that as a brand new entrant to the Unit Trust Mutual Fund business, the Softlogic Money Market Fund received an exceptional rating of ICRA SL A. When managing external funds we felt that showing return against risk is imperative to prospective investors as pure-play yield comparison is simply not informative enough to our investor base. We are keen on educating our investors on the value, transparency and significance of this external rating by ICRA through all our client communications,” stated Softlogic Invest Chief Executive Officer and Director Niloo Jayatilake.

Launched in July 2020, Softlogic Money Market Fund is an open-ended Unit Trust Fund approved by the Securities and Exchange Commission of Sri Lanka (SEC). The fund invests in government treasury bills, bonds and other government securities, investment grade corporate debt securities such as debentures, commercial papers, securitization papers and repurchase agreements with maturities of less than one year which can be readily convertible to cash. The overall objective of the Fund is to earn a return of interest income while preserving investor capital and liquidity.

Commenting on the significance of the rating, Softlogic Invest Portfolio Manager Daham Hettiarachchi opined, “This outstanding rating signifies our attempt to deliver optimum returns given the current low-rate environment and COVID challenges. We adopt a more conservative strategy when allocating funds whilst ensuring that our Unit holders are able to access attractive returns. With this approach, we are currently delivering a return well above traditional non-bank fixed deposit rates and savings rates. Therefore, our investors enjoy optimum yield compared to traditional NBFI fixed deposit rates whilst enjoying the flexibility of withdrawal at any time they want without any charges. We believe that customer convenience and access to funds is paramount to grow Industry volumes.”

ICRA Lanka’s mutual fund rating methodology is based on evaluating the inherent credit quality of the fund’s portfolio. Schemes with this rating are considered to have adequate degree of safety regarding timely receipt of payments from the investments that they have made. The credit risk ratings incorporate ICRA Lanka’s assessment of a debt fund’s published investment objectives and policies, its management characteristics, and the creditworthiness of its investment portfolio. The organisation reviews relevant fund information on an ongoing basis to support its published rating opinions.

March 11, 2021

A Rs 5,000 worth Softlogic Money Market Fund account for every newborn at an Asiri Hospital

11 March, 2021: The Asset Management arm of the Softlogic Group, Softlogic Asset Management Pvt Ltd – Softlogic Invest, is pleased to announce their partnership with Asiri Hospitals to offer a novel opportunity where every newborn at any Asiri Hospital receives Rs 5,000 in a Softlogic Money Market Fund. The minor account opened for the child, with a parent acting as the guardian, will mature on reaching 18 years of age. The Softlogic Money Market Fund is a Unit Trust managed by Softlogic Asset Management Pvt Ltd which is licensed by the Securities Exchange Commission of Sri Lanka.

Compared to a traditional savings account, an investment in the Softlogic Money Market Fund can be of significant value in time to come, as the parents and other relatives continues to make regular investments.

Commenting on the new initiative, Asiri Hospitals Chief Executive Officer Dr. Manjula Karunaratne stated, “In a global atmosphere that places increasing emphasis on both health and financial security, we are delighted to execute this partnership with Softlogic Invest. This is a timely offering that brings with it numerous advantages to new parents. We are positive that this money market account will help parents to facilitate their child’s educational future by planning and investing on a regular basis.”

A Money Market Fund provides investors with short term returns and liquidity by investing in money market securities of companies rated ‘investment grade’ (BBB- and higher) maturing in less than one year. At present, the Money Market Fund sees a significant yield of 7.77% as at 22th February 2021, giving investors attractive returns compared to 12-month fixed deposit rates of banks at 5.00-5.75% and an average savings rate of 3.00 – 4.00%.

Commenting about this novel offering, Softlogic Invest Chief Executive Officer Niloo Jayatilake said, “2020 was a year none of us is likely to forget due to our world being upturned by a pandemic no one saw coming. Along with many other implications, it also forced families and individuals worldwide to realise the importance of smarter and more efficient financial planning. In such a context, we are excited to partner with Asiri Hospitals to help new parents prepare better to navigate the challenges of raising children in this new normal and stress less about preparing healthy financial futures for them. We are confident of the performance of this unique offering as it is launched into a market that is now showing signs of strong recovery due to massive global efforts being rolled out to mitigate the effects of the pandemic.”

The company has also expertly managed their portfolio duration to tackle the declining interest rates of 2020 while maintaining adequate liquidity, and credit quality at an optimum level of >82% of the portfolio is invested in ‘A category’ (including “A-“,”A” & “AA+”) instruments. Softlogic Invest’s total AUM (Assets Under Management) as at 31st January 2021 of the Softlogic Money Market Fund and Equity Fund is at LKR 1.126 Billion, a strong and significant achievement that has increased their credibility in the competitive market.

February 5, 2021

05 February 2021, Colombo: As a revolutionary modern trade retailer in the Market, Softlogic GLOMARK expands its presence even further in the Sri Lankan Modern trade sphere with another one of a kind GLOBAL Supermarket in Malabe. GLOMARK Malabe provides an international shopping experience with its access to a wide selection of products sourced from local and international markets coupled with excellent customer service.

‘Bakes Kitchen’ an exclusive dining area and restaurant further adds to the experience of shoppers. The launch of GLOMARK Malabe on the 29th January 2021 effectively makes it the 9th outlet under the GLOMARK banner. It is conveniently located minutes away from Malabe Town in Athurugiriya – Malabe main road, within a highly residential vicinity.

Commenting on the Malabe outlet opening Ashok Pathirage – Chairman, Softlogic Holdings PLC, said, “The expansion of GLOMARK to Malabe is an exciting event where we take the globally inspirational supermarket experience to a great, far more diverse Sri Lankan supermarket shopper, that cuts across multiple social strata, not only because of the geography, but also because of the socio-economic importance the area symbolises. The customer experience will further be enhanced by the inclusion of a fully-fledged Consumer Electronics range powered by Softlogic MAX, a masterpiece selection of furniture by Softlogic Furniture and a unique bakery range and a variety of hot food with a fusion twist. Our next endeavour is to open GLOMARK’s Flagship store at CR&FC in March this year, a hub for an elite local and overseas customer base in the heart of Colombo”

GLOMARK offers a wide range of items and the best in technology for an unparalleled consumer experience. The modern trade venture by Softlogic stocks the widest selection, sourced from around the world, delivering freshness and high quality for a one-of-a-kind experience. Customers can also access our retail services via www.glomark.lk with the capability of getting doorstep delivery to Colombo and key suburbs.

Softlogic has already established its pioneering leadership as a retail giant, leading the consumer electronics and apparel segments and innovating in the restaurant and food business, through partnering with global brands. Softlogic Holdings PLC is one of Sri Lanka’s largest diversified conglomerates with leading market positions in growing economic sectors in retail, healthcare, financial services, leisure and automobiles. Softlogic holds Authorized Distributorships for key global brands and today, employs over 10,000 people in its offices located in Sri Lanka and Australia.

January 8, 2021

Colombo. 07 January 2020. Retail giant Softlogic Retail Pvt Ltd, a fully owned subsidiary of Softlogic Holdings PLC, joins hands with The Connection Workshop Pvt Ltd to bring seamless efficiency of Artificial Intelligence to the homes of the everyday Sri Lankan consumer through the island wide network of Softlogic showrooms.

This futuristic collaboration has led to the introduction of the TeDi Alexa; the first Alexa integrated device to be officially launched in Sri Lanka, giving the local consumer the opportunity to purchase technology that was once only available in highly tech savvy countries.

The world has rapidly transitioned from merely talking about artificial intelligence to accepting its ubiquitous role with open arms, as it takes on most of our multi-faceted responsibilities. The popularity of its usage has increased significantly with AI devices becoming part of our daily lives.

Currently, TeDi Alexa is considered to be the first of Amazon’s AI devices integrated to a smart platform enabling voice activation and smart controlling of connected devices direct from the TeDi Alexa device

Mr. Mohammed Rizvi, Chief Executive Officer of Softlogic Retail (Pvt) Ltd said, “We are proud to present a device that will enable Sri Lankans to be on par with the fast-paced ever-changing AI platform of the world. As integration of AI into homes and work become the norm, it enables us to adapt to the growing trend which will take us forward into the global technological sphere”.

Mr. Dilshan Boteju, Chief Executive Officer of The Connection Workshop said, “With the backing of South Asian Technologies, our parent company, we have grown from strength to strength. Moreover, the launch of this avant-garde product has provided much needed scope for the futuristic prospects of our country and put us on the right track”.

TeDi Alexa comes with the added feature of being able to voice and App control compatible PeoTV or Dialog TV boxes. TeDi Alexa Completely eliminates the need to look for the remote control and search through hundreds of channels. Navigating through TV channels is now as easy as giving a voice command.

TeDi Alexa has its own inbuilt Infra-Red (IR) blaster that can control any surrounding IR controlled devices – making the entire surrounding area a smart voice controlled hotspot.

Its ability to provide Amazon Alexa skill integration makes TeDi Alexa an all-purpose device by being able to answer questions, report on weather, listen to music (Tunein Radio, Amazon music), listen to flash briefings, check one’s calendar and read emails and even prepare replies!

Through a voice user interface (VUI), voice services like TeDi Alexa can communicate with people in ways that seem effortless. TeDi Alexa can solve problems and get smarter over time, with new skills being added frequently.

Consumers who wish to purchase the newest AI Tedi Alexa from Softlogic, will be eligible for special cash offers and enjoy 0% interest free installment schemes on credit cards issued by all leading banks. The device will be available at all leading Softlogic Max and Softlogic stores, and can also be purchased through mysoftlogic.lk; Softlogic’s e-Commerce portal.

The Connection Workshop has already introduced its flagship TeDi Robot Vacuum through the Softlogic Max chain and will soon introduce the TeDi IR Blaster, Fan Controller and many new exciting devices including a Smart Window Washer for domestic use.

South Asian Technologies, the parent company of The Connection Workshop plans to introduce many new innovative skills to complement the device operation in Sri Lanka, like ordering a cab, ordering your favourite meal etc by simply asking TeDi – Alexa!

Softlogic is the leading retailer in the Sri Lankan consumer electronics and furniture industries. Appreciated by discerning shoppers for its impressive customer focused service, consumer-friendly ambience, superior after sales service, one-stop shop experience and ample parking facilities, Softlogic and Softlogic Max showrooms offer a wide range of world famous consumer electronics and household appliance brands which include state of the art TVs, Home Theatre Systems, Audio Systems, Refrigerators, Washing Machines, Air Conditioners, Laptops, Mobile Phones, Kitchen Appliances and Furniture. Softlogic offers the world’s most loved brands such as Panasonic, Samsung, Dell, Nokia, Acer, Candy, Whirlpool, Apple, TCL as well as home brands such as Softlogic Prizm, Maxmo and Softlogic Furniture.

Softlogic Holdings PLC is one of Sri Lanka’s foremost conglomerates with leading market positions in the country’s growing economic sectors; retail, healthcare, ICT, automobiles, leisure and financial services. Softlogic holds Authorised Distributorships for key global brands and today, employs over 11,000 people in its offices in Sri Lanka and Australia.

The Connection Workshop Pvt Ltd, a subsidiary of South Asian Technologies Pvt Ltd. is a leading distributor of high-end, best of breed ICT solutions in Sri Lanka and has been in operation for over a decade. SAT represents world-class ICT brands as the sole authorised representative in Sri Lanka and the Maldives. SAT has a prestigious clientele including all the leading banks, telecommunication service providers, most of the top conglomerates, and hundreds of other organisations.

Moreover, SAT entered the IoT market during the last two and a half years and has partnered with one of the largest IoT device platform providers in the world to introduce TeDiSmart, smart home solutions to the Sri Lankan market and has made the products available through The Connection Workshop Pvt Ltd

June 18, 2020

Softlogic Invest, the Asset Management arm of Softlogic Capital PLC, recently launched two unit trusts or mutual funds – Softlogic Equity Fund and Softlogic Money Market Fund after obtaining the license from the Securities Exchange Commission of Sri Lanka (SEC). Capitalizing on the existing expertise coming in via the Softlogic financial services cluster which includes – Softlogic Life Insurance, Softlogic Finance and Softlogic Stockbrokers, the introduction of these two funds marks the entry of Softlogic’s asset management arm – Softlogic Asset Management (Pvt) Ltd, into the retail market of the financial services space. Both these investment schemes will be open to anyone with a minimum investment of Rs. 5,000 a month.

Softlogic Invest has merged the 2 worlds of financial investments and digital services to offer a simple and unique investment experience to investors. Enabling an investment culture in Sri Lanka, Softlogic Invest will catapult people to achieve their dreams and goals while offering full disclosure and control of their money through this newly launched brand.

“Softlogic Invest will be one of the few investment arms in Sri Lanka that extends anyone the opportunity to start investing with a mere Rs 5,000 and go on to even become part of a billion rupee investment. We see a huge vaccum in terms of salient and reliable asset management mechanisms for the young and aspiring Sri Lankan’s of today and we hope to make Softlgic Invest the brand that caters to that segment” commented Mr. Ashok Pathirage – Chairman and Managing Director of Softlogic Holdings PLC.

A Unit Trust fund is a collective investment scheme which pools together into one account. The money is then invested in a portfolio of financial securities. Based on the performance of the total investment, the Net Asset Value is then divided by the number of units, giving the investors also known as unitholders, their respective Net Asset value per unit.

“With the launch of our two Unit Trust Funds, we are now fully realising our goal to bring institutional quality offerings to the retail and private wealth communities in Sri Lanka. Furthermore, it is a reflection of the increased demand Softlogic Invest has seen for its investment solutions from the retail and private wealth channels,” commented Iftikar Ahamed, Managing Director of Softlogic Capital PLC.

The Softlogic Equity Fund does not charge an upfront fee from its investors. The Portfolio is actively managed using a bottom-up stock selection approach investing in listed companies in the Colombo Stock Exchange (CSE), where investee companies are evaluated by the fund managers and a research team. The Money Market Fund provides investors with short term returns and liquidity by investing in money market securities of companies rated “investment grade” (BBB- and higher) maturing in less than one year. With the ability to receive a return on investments — with the option to withdraw money within a day—The Money Market Fund strives to give the best possible yield enhancement for investors while safeguarding their capital.

February 3, 2020

After just over a year in the market, Softlogic GLOMARK stretches its presence further in the Sri Lankan Modern trade sphere spreading inspiration amongst Sri Lankans all over, with the launch of their 7^th outlet in the heart of Nawala, adjoining Senanayake Mw at No. 268 Nawala Rd, Nawala, on the 17^th of January, 2020.

This comes as an astute strategy to have the big format Softlogic GLOMARK along with the new mini format GLOMARK Essentials as part of Softlogic’s plans for rapid expansion and growth of the GLOMARK brand. GLOMARK was launched by Softlogic Supermarkets Pvt Ltd, a subsidiary of Softlogic Retail (Pvt) Ltd, under the ultimate parent group, Softlogic Holdings PLC. As a consumer-focused business, it has over 100 international brands marketed through one of the country’s strongest distribution channels.

Softlogic GLOMARK at Nawala is located conveniently having facings towards the Nawala – Rajagiriya road and the Senanayaka Mw with ample parking to provide its global variety to the local citizens by inspiring them through a global supermarket experience. Softlogic believes this will give a different flavor to Nawala that will allow its customers to fulfill all their daily essentials’ requirement, along with the exposure to numerous global brands.

Commenting at the launch, Ashok Pathirage – Chairman, Softlogic Holdings PLC, said, “Our new GLOMARK outlet at Nawala will serve a large influential consumer base who seeks the best in all aspects to diverse needs in daily essentials and other groceries. Our offering further extends to all at Nawala with an extended bakery experience that includes a large range of coffees, sweets and savories to suit individual tastes. GLOMARK has raised the bar in Sri Lanka’s modern trade industry, so that customers genuinely enjoy their shopping experience. Our loyal customer base can expect many more exciting initiatives from the GLOMARK brand. We will be opening a series of large outlets, including our flagship store at CR&FC – Colombo 07, along with outlets in Mount Lavinia, Negombo, Rajagiriya and Malabe,”

GLOMARK harnesses the widest selection of items and the best of technology for a superlative consumer experience. The modern trade venture by Softlogic, stocks the widest selection, sourced from around the world, delivering freshness and high quality for a one-of-a-kind experience. Customers can also access our retail services via www.glomark.lk with free delivery within 4 hours across Colombo and key suburbs.

Newer Posts

Older Posts

Softlogic launches its MAXMO brand of Air Conditioners in Sri Lanka

Softlogic Invest’s 2021 highlights 58% equity fund returns and 7.68% annualized money market returns

Get a Lag-Free Gaming Experience on Your Samsung Smart TV with Gaming Mode

Softlogic Invest celebrates first anniversary as a leading Fund Manager with Assets Under Management of Rs. 31 Billion

Softlogic Invest Money Market Fund rated [SL] A mfs by ICRA

Softlogic Invest and Asiri welcome newborns to a future of investing in their education

Softlogic GLOMARK now inspires Malabe

Softlogic brings artificial intelligence device, TeDi Alexa, to Sri Lankan consumers

‘Softlogic Invest’ launches, breaking into Sri Lanka’s Retail investment landscape

Softlogic GLOMARK opens its newest outlet in Nawala