Orient Wealth, a wholly-owned subsidiary of Sri Lankan asset manager Orient Capital, has signed a deal with Deutsche Bank to launch three new funds in the country.

The three trust deeds include the Orient Gilt Edged Fund, Orient Corporate Debt Fund and Orient Equity Fund, all of which are licensed by the Securities and Exchange Commission and are to be managed by Orient Wealth. Deutsche Bank will serve as trustee and custodian. 

The funds will be operational from 6 August.

Orient Wealth was offically established in February 2012 as a unit of Orient Capital group, which comes under the Janashakthi group of companies. The Janashakthi group has interests ranging from insurance to money broking.

In June, Orient Wealth strengthened its local foothold with the appointment of 30-year financial services veteran Sivagnanasundaram Jeyavarman as chief executive.