National Wealth Corporation Limited (NWC), a Public Limited Liability Company was incorporated on the 23rd of March 2003, with an Issued Share Capital of Rs.200,000,070/-. Subsequently the Issued Share Capital was increased to Rs. 300,000,070/- with the capitalization of retained profits in the form of a bonus issue of shares. The increase in the share capital was to facilitate the setting-up of the primary dealership which required the transfer of the mandatory capital of Rs.200.0 million.
NWC was set up as a fully owned subsidiary of the Mahapola Higher Education Scholarship Trust Fund with the objective of enhancing returns on its existing funds by engaging in various fund and fee based activities.
The primary objectives in setting up NWCL are to:-
1. To manage / administer the Mahapola Higher Education Scholarship TrustFund- “MHESTF’
2. To Manage Government-owned and Private Sector Funds professionally & efficiently ensuring high standards of security and attractive yields.
3. To bring in private sector expertise and efficiency in the fields of Asset Management, Corporate Restructuring and Treasury Management into the Government and Semi-Government Sectors and to extend these services to Private / Corporate Sectors.
4. Promote and develop the Government Debt Securities Market
The principle business activities of NWC are Asset Management - and the primary responsibility of the Asset Management Division is the Management of the MHESTF Portfolio.
