First Capital joins HNB for First Capital Money Plus Fund

In a bid to broadbase unit trust investors in the country, while enabling digital dexterity for cash withdrawals, First Capital Holdings PLC partnered with HNB to launch the “First Capital Money Plus Fund”.

Presenting digital withdrawal and payment facilities through a practical Europay, Mastercard, and Visa (EMV)enabled card for Unit Trust Investment (UTI) accounts, First Capital has partnered with HNB to obtain trustee services.

The new innovative fund will enable unit trust account holders to access their investments conveniently through an EMV-enabled card, Dilshan Wirasekara, First Capital Holdings PLC Managing Director/CEO said at a media briefing on Wednesday to introduce the new product.

Deputy General Manager – Wholesale Banking Group, HNB Damith Pallewatte said that HNB providing trustee services is the ideal partner for First Capital with a domestic systemically important bank with the largest retail footprint among Sri Lanka’s private sector banks.

The fund providing investors with instant access to their investments through over 3,500 ATMs, POS terminals, and digital payment gateways available countrywide, will also give attractive returns over conventional investment instruments. "We are hoping to bring this new facility to the market very soon, and I am confident that this initiative is going to be an important milestone in living our vision ‘to improve the lives of all Sri Lankans through financial solutions," Mr. Wirasekara said. First Capital, which manages five funds worth Rs. 40 billion, expects the added accessibility and flexibility to catalyse the growth of the unit trust market in Sri Lanka.