Sri Lanka’s SEC and CSE to host investor forum in New York
The Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC) in association with CSE member-firms and leading listed companies will host the “Invest Sri Lanka Investor Forum” in New York on October 16, 2017 with the intention of drawing in additional US institutional investors that have been ranked the leading investors for 2017 in the Colombo bourse.
A similar forum held previously in 2014 had attracted over 200 investment professionals enabling the CSE to record its highest annual purchases.
A statement revealed that the forum will consist of “… a series of pre-scheduled one-on-one or group discussions between fund managers and Sri Lankan listed companies on October 16 and 17.”
“The decision to host the Invest SL event in New York comes on the back of a considerable level of foreign activity in the stock market in 2017, where a net foreign inflow of LKR 40 billion has been recorded year-to-date in the primary and secondary markets.Foreign purchases during the first half of 2017 also established a record for the highest foreign purchases recorded in the first half of a calendar year,” the statement further read.
Since 2013 US investors have regularlybeen the CSE’s top financiers for Sri Lankan foreign turnover, having injected 40% of the country’s entire foreign turnover for the entire four year period.
Speaking about the individual blend of investors in each nation’s stock market activities, Chairman of the SEC, Thilak Karunaratne said, “This mix will have an impact on the efficiency of the stock market. This year in particular it is the foreign investors who have driven the stock market and to date there is a net foreign inflow of LKR 28 billion to the CSE.”
“This is the second highest yearly net foreign inflow on record. The US is ranked as the number one contributor to this record figure and we are confident that this Road Show will further strengthen the inflow of funds from the US to our stock market,” he added.
Chairman of the CSE, Ray Abeywardena said this level of numbers related to foreign involvement in the CSE was indicative of foreign investor confidence regarding available prospects in the country’s stock exchange.
“Considering such interest and activity, a forum of this nature in what is largely regarded as the largest fund hub in the world would help make a strong case for the Sri Lankan capital market, at a time when we have the attention of foreign investors,” he said.
A similar forum was conduct earlier this year in Australia, resulting in unprecedented purchases made by Australian investors.
Fora such as this will give foreign investors a chance to interact and learn from Sri Lankan investment experts and also establish powerful connections with the country’s foremost investment heads. This will enable them to establish links prior to venturing into Sri Lanka and help them further establish a necessary network that will open up innumerable investment opportunities in the country.
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