SL's unit trust industry aims to transform saving habits amid rapid growth

The Unit Trust Association of Sri Lanka (UTASL) has ushered in a new era with the appointment of its 2025 leadership team, headed by veteran finance professional Christine Dias Bandaranaike of JB Financials (Pvt.) Ltd as President.

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This leadership transition comes at a time of tremendous growth for the industry, with unit holder numbers surging 119 percent from 52,402 in 2020 to 114,898 in 2024, while assets under management have increased 172 percent to reach Rs.547 billion during the same period.

The newly elected team includes respected industry figures such as Kavin Karunamoorthy of First Capital Asset Management as Vice President, Jeevan Sukumaran of Senfin Asset Management as Secretary and Asanka Herath of Lynear Wealth Management as Treasurer.

Sri Lanka's unit trust sector has shown remarkable resilience and expansion over the past five years (since 2020).

Bandaranaike, whose career spans nearly three decades in capital markets and fund management, explained this growth trajectory.

"We're witnessing a fundamental shift in Sri Lanka's financial behaviour. The pandemic accelerated digital adoption, with online platforms making unit trusts more accessible than ever.