Sri Lanka becoming more integrated with global value chains
The CFA Society Sri Lanka said Sri Lanka is becoming more integrated with global value chains, capital flows and also movement of human capital and this situation immensely help the country to enter the global economic system.
President, CFA, Sanjaya Kulatunga made these remarks at the opening session of the fourth ‘CFA Sri Lanka Capital Market Awards 2016 ‘ ceremony held in Colombo.
The globally recognized Chartered Financial Analyst (CFA) Institute Research Foundation is an organization established to promote the development and dissemination of relevant research for investment practitioners worldwide .
Accordingly, CFA Society Sri Lanka too presenting awards to local capital market professionals who have established industry benchmarks and spearheaded governance and ethics to advance domestic financial markets.
Speaking further Kulatunga said the objective of conducting such an annual event is to bring the country’s financial sector community together to recognize and celebrate the high standards of achievement made by participants.
He said “ Although we the CFA community in Sri Lanka is small in number we are committed to working with all stakeholders in the industry to make the financial sector to reach its full potential,”
Kulatunga further said that the CFA Society Sri Lanka firmly believe that a well-structured and regulated capital market in Sri Lanka is vital to achieve global integration and even more important is the need to engrave the value of ethical behavior among all industry participants .
“This will no doubt form the cornerstone of gaining the confidence of the international financial industry and ultimately determine our position in the ever competitive global financial landscape,”
Addressing the gathering Singaporean Foreign Affairs Minister Bilahara Kausikan highlighted the evolving geopolitics of the Indian Ocean Region and how Sri Lanka position should exploit political and economic opportunities as it is exceedingly relevant in the current economic context.
Making a brief speech on the awards ceremony, CFA Society Asia Pacific Managing Director Nick Pollard highly valued the awards and said they are differentiated due to the winners not only recognizing technical excellence but also integrity, transparency governance practices and best –in-class global investment standards.
He further said the maturity of Sri Lankan capital market is at its early stages and establishing a strong culture of ethical conduct is essential and the diversity, size and professionalism of institutional investors will be key in determining how fast and large the capital market in Sri Lanka can grow.
At the awards ceremony winners were announced for the Best Unit Trust Fund, the Best Equity Research Report, Best Investor Relations and the Best Stockbroker Research Team.
Accordingly, the Best Unit Trust Fund was awarded to JB Vantage Money Market Fund, Best Equity Research Report on Hatton National Bank to Vajitapani Bandaranayake of Bartleet Religaire Securities, Best Investor Relations award was presented to NDB Bank and the Best Stockbroking Research Team was selected as NDB Securities.
Meanwhile, Hasantha Uswatta from Asia Securities, Chetana Ellapola from Acuity Stockbrokers, Gayan Rajakaruna of LOLC Securities Dailog Axiata, CT CLASA Securities and Sunshine Holdings won an Honourable Mention for Best Investor Relations.
