CFA Capital Market Awards 2021 honours excellence in investment

The eighth annual CFA Capital Market Awards, organised by the CFA Society Sri Lanka, was held on Tuesday (22 June), with this year’s ceremony being held virtually, under the theme of ‘Investing with Purpose’.

Delivering the opening remarks at the event, CFA Society Sri Lanka President Dinesh Warusavitharana, CFA affirmed that the CFA Capital Market Awards “recognise the commitment to excellence and industry best practices, from capital market participants, which aims to improve and develop the Sri Lankan capital market and to attract more investors to finance Sri Lanka’s growth”. 

“Despite the challenges, we are pleased to note the commitment by industry participants to strive towards best practices and put investors’ interests first,” he added.

CFA Capital Market Awa-rds Chairperson Rashmi Peiris Paranavitane, CFA also noted: “Congrat-ulations to all the winners this evening and I want to also thank all those who participated from the industry for their resilience, efforts and for taking part in a year that has been one for the history books.”

She also conveyed the CFA Society Sri Lanka’s appreciation to the judges and committee chairs who had “worked tirelessly to evaluate and select the best among peers. This event would not be possible without their help. The judges in each award category include both CFA charter holders and industry experts, and I want to express our gratitude for their commitment and support”.

Awards were presented under the five categories of Best Stockbroking Research Team, Best Equity Research Report, Best Sector Report, Best Investor Relations and Best Unit Trust Fund, with awards for Gold, Silver and Bronze in each category.

Capital Alliance Securities was awarded Gold for the Best Stockbroking Research Team, while Capital Alliance Securities won the highest honours for the Best Sector Report and Softlogic Stockbrokers received the Gold award for the Best Equity Research Report. Meanwhile, Sunshine Holdings was conferred Gold for Best Investor Relations and JB Vantage Value Equity Fund came out on top as the Best Unit Trust Fund.

In the Best Stockbroking Research Team award, Asia Securities was awarded the Silver, while CT CLSA Securities received the Bronze award. In the Best Equity Research Report category, Capital Alliance Securities was the recipient of the Silver award, while the Bronze trophy was not awarded this time. In the Investor Relations award, Silver was won by NDB Bank, with Dialog Axiata awarded the Bronze. Senfin Money Market fund and the National Equity Fund won the Silver and Bronze awards, respectively, in the Best Unit Trust Fund category. Only the Gold award was given in the Best Sector Report award. 

The judges also commended industry participants for maintaining best practices and providing uninterrupted service to clients despite a challenging environment amidst pandemic conditions, particularly highlighting the steps taken to leverage virtual platforms and technology to engage with their clients.

Moreover, the judging panel recommended that further measures be taken to improve the quality and timeliness of research and disclosures, as well as to take into account ESG related issues in the case of Equity Research.

The keynote address at this year’s event was delivered by RBC Global Asset Management Senior Portfolio Manager of Global Equities Benjamin Yeoh, CFA, who focused on why environmental, social and governance (ESG) matters, particularly in the context of the asset management industry, and the value it provides both to investors and society at large.

Following the keynote presentation, a panel discussion was held featuring Commercial Bank of Ceylon PLC Chief Risk Officer Kapila Hettihamu and MAS Holdings Head of Sustainability Sid Amalean, and moderated by Acuity Knowledge Partners Senior Director and Global Head of Investment Research Chanakya Dissanayake, CFA.

The discussion drew attention to global banks’ progress in adopting ESG best practices vis-à-vis lending operations, as well as how Sri Lanka’s Licensed Commercial Banks (LCBs) are progressing in terms of domestic financing operations. Sid Amalean also discussed the challenges faced by supply chain companies in the global apparel sector on Environmental, Social and Governance factors and the importance of integrating sustainability in their business model to align with the ESG goals of their key customers. 

The CFA Capital Market Awards 2021 was sponsored by the Colombo Stock Exchange (Platinum Sponsor), Acuity Stock Brokers (Silver Sponsor), Capital Alliance (Silver Sponsor), Daily FT and Daily Mirror (Print Media Sponsors). 

CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organisation is a champion of ethical behaviour in investment markets and a respected source of knowledge in the global financial community. Our aim is to create an environment where investors’ interests come first, markets function at their best, and economies grow. There are more than 170,000 CFA charter holders worldwide in 164 markets. CFA Institute has nine offices worldwide and there are 161 local member societies.

Founded in 2000, CFA Society of Sri Lanka is a not-for-profit organisation supporting the professional development and advancement of CFA charter holders and candidates in Sri Lanka. Our membership of over 240 members consists of CEOs, CFOs, portfolio managers, equity analysts, banking professionals, investment advisors and other senior-ranking financial practitioners and over 500 candidates, mainly in the financial sector.