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Friday Sep 20, 2024
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Sharma who rose in to fame with his bestseller ‘Breakout Nations: In Pursuit of the Next Economic Miracles’ published in 2012 and a well respected columnist globally, is no stranger to Sri Lanka. Governor Nivard Cabraal invited Sharma in September last year to deliver the 63rd anniversary lecture of the Central Bank.
The Sri Lanka Capital Markets Investor Forum in the US comes after the successful conclusion of the London event last month.
It is also part of the series which began in Mumbai in February last year followed by in Dubai, Hong Kong as well as in Singapore early this year. The Investor Forum organised by the CSE and the Securities and Exchange Commission is in partnership with Bloomberg.
An emerging market portfolio manager Sharma has written widely on global economics and politics. As head of the Emerging Markets Equity team at Morgan Stanley Investment Management, he manages over $25 billion in assets under management.
The decision by the CSE-SEC to invite the world’s largest fund manager BlackRock Fund Manager and Member of the Emerging Markets Specialists Team Gordon Fraser to speak at the London Forum was also impressive.
Fraser told London Forum which drew over 150 fund managers that host of positive factors make Sri Lanka a compelling place to invest and time was now. He also said Sri Lanka’s long-term prospects and the economic growth story as the most attractive among frontier markets.
Net foreign inflow to the CSE year to date is Rs. 5.5 billion including Rs. 3.7 billion in the past 11 days. Analysts have welcomed it as a strong recovery after strong but temporary outflow by April amounting to over Rs. 9 billion. In 2013 and 2012 Colombo enjoyed robust net inflows.
Year-to-date return of the CSE is over 7%.
At the upcoming New York Forum, International Monetary Cooperation Senior Minister Dr. Sarath Amunugama and Central Bank Governor Nivard Cabraal are also scheduled to address along with Sri Lanka’s new Ambassador in the US Prasad Kariyawasam. A panel discussion involving them as well as SEC Chairman Dr. Nalaka Godahewa and CSE new Chairman Vajira Kulatilaka will be held.
Several listed companies are attending the New York forum which will be having one-on-one meeting with prospective investors.
So far John Keells Holdings PLC, People’s Leasing & Finance PLC, Tokyo Cement Company (Lanka) PLC,
Laugfs Gas PLC and MTD Walkers PLC, all of whom also attended the London Forum, have confirmed their participation.
Investor Education Day at WTC todayThe Colombo Stock Exchange (CSE) in association with the Securities and Exchange Commission of Sri Lanka (SEC) will host an awareness campaign on investing in the stock market today (20 June) at the Lobby Level of the World Trade Centre, from 9 a.m. to 5 p.m. Visitors to the stall will be given a unique opportunity to tour the trading floor, meet with stockbrokers and unit trust companies, open accounts in the Central Depository System (CDS) and obtain vital insights on investing in the capital market. It is the prevailing notion that in light of the positive performance of the market and the current low interest rates; it is an ideal time for potential investors to enter the market and maximise their returns by investing wisely. The CSE Investor Education Team will be present to educate visitors to the stall on the principal elements of investing, provide them with special publications and answer any queries on investing. Potential investors can also take the next step in their journey, of wise investment, by liaising with a stock broker or representatives from unit trusts. With the stock market being on an upward trajectory with the All Share Price Index (ASPI) closing at 6,313.20 with a 6.8% increase and the S&P SL20 closing at 3,490.67 with a 6.9% increase, (as at 19 June) it is an ideal opportunity for investors to grow their funds through prudent investment. Those interested in furthering their knowledge can also sign up for CSE educational workshops, which are conducted in all three mediums. These workshops will give potential and existing investors the skills they need to analyse financial statements of companies and invest wisely in the stock market. |
Brokers commend SEC, CSEThe Colombo Stock Brokers Association (CSBA) has expressed its “sincere appreciation” of the efforts made by the Securities and Exchange Commission and the Colombo Stock Exchange. In a letter to the SEC Chairman Dr. Nalaka Godahewa, CSBA President Dihan Dedigama has commended the SEC and CSE for promoting Sri Lanka as an investment destination at the Invest Sri Lanka event in London in May. “The Sri Lanka story was amply demonstrated by Gordon Fraser, BlackRock’s Fund Manager and Member of the Emerging Markets Specialists Team,” Dedigama has said. The CSBA is also looking forward to continued support in extending financial assistance to the broking community top attend such road shows in the future. “In turn we will endeavour to provide our fullest cooperation s always,” the CSBA Chief has added. The largest-ever delegation from the stock-broking community – 17 broking firms – attended the Investor Forum in London. |
