The Colombo Stock Exchange (CSE) in collaboration with Securities and Exchange Commission of Sri Lanka (SEC) will host the country’s second international capital market conference on October 09th.
Sri Lanka hosted its first international fund mangers conference way back in 1998, when the country was going through a separatist war.
The event is scheduled to be held at the Cinnamon Lakeside Hotel in Colombo, and President Mahinda Rajapaksa is to inaugurate it.
According to a media statement released by SEC, the conference will bring together capital market industry participants and institutional investors.
“The conference would provide an excellent opportunity to understand the potential investment opportunities available in the capital market and post war economic growth. Participants will be able to meet and interact with government officials, regulators, issuers and market intermediaries and hold one-to-one meetings with CSE-listed companies.”
A distinguished panel of speakers will touch on investment opportunities available in the Sri Lankan capital market as well as experiences of investing in Sri Lanka.
Treasury Secretary Dr.P.B Jayasundara, Central Bank Governor Ajith Nivard Cabraal, SEC Chairman Dr.Nalaka Godahewa and CSE Chairman Vajira Kulatilaka have been invited to speak at the forum.
During the post war period, CSE’s broad market index, the ASPI recorded a growth of over 300 percent from 1,800 to 7,200 level. Market capitalization too appreciated significantly by over 350 percent.
Meanwhile, the average daily turnover of the CSE has increased from Rs.464 million to Rs.1.2 billion in five years since 2009. During the post war period, the Net Asset Value of Unit Trusts has gone up from Rs.6.7 billion to Rs.75.7 billion.
“Sri Lanka’s economy is expected to reach a level of over US$ 4,000 per capita before 2016. Accordingly, gross investment needs to rise above 33 percent of GDP. Reducing the savings-investment gap alone would not promote growth. It is equally important to recognize mechanisms that could mobilize savings to productive investments,” the statement noted. This forum is part of a series of activities planned by CSE and SEC to educate local and foreign investors of the investment opportunities available in the Sri Lankan capital market.
The SEC and CSE recently concluded successful investor forums in Mumbai, Dubai, Hong Kong, Singapore, London and New York. In addition, forums have been conducted throughout the country to educate the general public as well as other stakeholders. Forums of this nature have had a positive impact on the market.
The CSE has recorded a YOY growth of 22 percent and has become one of the best performing markets globally in 2014. Foreign investors account for nearly 30 percent of the total market turnover and foreign investors continue to be net buyers in the market with net purchases of Rs.10 billion in 2014. The total net foreign inflow during last three years exceeds Rs.70 billion.
Platinum sponsors for the event are Ceylon Guardian, Citi Bank and NDB Capital Holdings while the silver sponsors are Deutsche Bank, Hong Kong Shanghai Banking Corporation and Sampath Bank PLC. Bronze sponsor is Hatton National Bank PLC and Sri Lankan Airlines is the official airline partner.
The forum comes at an important juncture when there is significant worldwide focus on Sri Lanka’s growth prospects and it is anticipated that it will generate an overwhelming response from fund managers based overseas.
More details on the conference can be obtained by accessing: http://www.capitalmarketconference2014.com