Candor Equities makes a mark at CFA Awards 2015

From left: IBM Sri Lanka Chief Financial Officer Rachini Rajapakse, CFA Sri Lanka President Sanjay Kulatunga, UK institutional business for Russell Investments UK Managing Director/Head Shamindra Perera and Candor Equities Head of Research Pasindu Perera receiving the Certificate of Commendation for Best Stockbroker Research Team 

From left: IBM Sri Lanka Chief Financial Officer Rachini Rajapakse, CFA Sri Lanka President Sanjay Kulatunga, CSE Chairman Vajira Kulatilake and Candor Equities Head of Research Pasindu Perera receiving the Certificate of Commendation for Best Equity Research Report

Candor Equities Ltd., the stock broking company of the Candor Group was honoured with two commendation certificates for both the ‘Best Stockbroker Research Team’ and ‘Best Equity Research Report’ 2014/15 at the Capital Market Awards and Forecast Dinner organised by CFA Society of Sri Lanka.    

CFA Capital Market Awards takes place annually and is the flagship event of CFA Society of Sri Lanka whereby the efforts of Sri Lankan capital market participants are recognised for setting industry benchmarks, high quality output and championing good governance and ethical practices in our Sri Lankan financial markets. 

To be recognised and awarded by CFA is considered as the pinnacle of success in the global investment and capital markets industries. The annual event was centred on three award categories namely, ‘Best Stock Broker Research Team’, ‘Best Equity Research Report’ and ‘Best Investor Relations’. Only four institutions shared the awards and recognitions this year and Candor Equities Research Team was proud to be one such institution that made a mark not just in one but in two of the leading award categories.    

Commenting about this significant achievement, Candor Group Director/CEO Ravi Abeysuriya said, “This was the first time that Candor Equities made a significant mark at the CFA awards and we are very proud of our Research Team in the manner they have contributed towards the setting of high standards in our industry. It was only two weeks before that one of our Senior Analysts topped the ‘Bloomberg Analyst Rankings’. Such credible recognitions truly reflect the high standards and quality of our independent research output produced by our team of analysts. Candor Equities always championed good governance and ethical business practices in our market. We always put our client’s interest first and provide high quality solutions and best advice to our clients that stand out from the norm. We are equipped with the right people, skills and resources to create a better experience for those who are interested in benefiting from the power of investing.” 

Candor Group Deputy CEO Ryan Perera said, “This is a landmark achievement for our team and the group. For a research team that was re-structured and put together just 10 months back, the results at the CFA awards and Bloomberg rankings amply demonstrates the potential and high calibre research that Candor has been able to produce. These recognitions are not just about winning an award; it’s about the quality of skills, analysis and bold recommendations that change the game. It’s about how innovative we are and how we keep raising the standards of our output and communicate it to our clients. 

“Our daily report ‘The Provident’ is an industry first and is well accepted by our corporate and retail clients. Candor Equities was also the first in the broking industry to provide our clients with up-to-date, timely research information on their mobile phones. Candor Equities is not just a broking firm, we are now a trend setter in our industry and our clients are the first hand beneficiaries of such services. We cannot be different if we do not do things differently. We want to thank our research team and all our staff for their dedication and passion towards achieving Candor’s vision and plans for the future.”     

The Candor Research recommendations given from January 2015 to date alone had an 88% success rate which is significantly higher than the market norm of 60%. In addition the research portfolio managed as a benchmark portfolio for our clients beat the ASPI by 3.3 times during a period of five months ended 30 July thereby giving a glimpse of the quality of Candor’s research which is based not only on fundamentals but also on high calibre technical research output. 

Candor Equities’ research output has seen increased interest, recognition and demand in the recent past from both local and foreign clientele. With its strong foreign ownership and the company’s long term plans in place, Sri Lankan capital markets can look forward to new trends and standards been championed the Candor way.