■Over 100 signed up to attend CSE-Bloomberg organised road show on Thursday
■Widespread interests from Sri Lanka’s corporates and capital markets
The stage is being set for Sri Lanka to woo interests from Mumbai-based fund managers at a first of its kind capital market investment road show later this week in the financial hub of India.
Over 100 fund managers have so far registered for the event to be held on 21 February at the Four Seasons Hotel in Mumbai under an initiative of the Colombo Stock Exchange in partnership with Bloomberg.
The investor forum comprises a formal session involving top speakers and separate business meetings by Lankan companies and broking community.
Apart from showcasing the vast potential in investing in the overall capital markets in post-war Sri Lanka, nine companies will also promote portfolio investment into their listed equities and debt. The-S&P SL 20 Index constituent nine companies are John Keells Holdings, Hayleys, Carson Cumberbatch, Dialog, Commercial Bank, HNB, DFCC, NDB and Access Engineering. These companies will be represented at Chairman, CEO or senior management executive level during the forum. Around 20 Sri Lankan broking firms will be participating as well.
Central Bank Governor Nivard Cabraal, Securities and Exchange Commission Chairman Dr. Nalaka Godahewa, Colombo Stock Exchange Chairman Krishan Balendra and CSE Board member Vajira Kulatilaka will make presentations in the morning sessions.
Brokers said confirmation of 100 fund managers and investment advisors for the forum confirms the keen interest emanating from Mumbai and this augurs well for Sri Lanka.
Mumbai was selected as venue for the fresh initiative by the CSE given the large presence of foreign funds as well as high net worth Indian investors. Mumbai is also the financial and investment capital of India.
Bloomberg has a growing presence in Mumbai and is expected to draw a good mix of institutional and individual investors.
According to Securities and Exchange Board of India (SEBI) data, India last year attracted $ 24.4 billion net foreign investments into its equities, marking it the second best year after having lured $ 29 billion in 2010. As of January, the number of registered Foreign Institutional Investors (FIIs) in India stood at 1,760 and the total number of sub-accounts was 6,357.
The CSE last year attracted a record Rs. 39 billion in net foreign inflows after two years of outflows whilst so far this year, the net outflow is Rs. 1 billion. As opposed to negative returns during the past two years, the Colombo Bourse is up over 3%.
source - www.ft.lk
No comments:
Post a Comment