Colombo bourse embraces GICS on 30th anniversary

4 December 2015 03:15 am - 0     - {{hitsCtrl.values.hits}}

A A A

The Colombo Stock Exchange (CSE) adopted the Global Industry Classification Standard (GICS) during the bourse’s 30th anniversary celebration in the presence of Prime Minister Ranil Wickremesinghe.
GICS was jointly developed by Standard & Poor and MSCI Barra to meet the global financial community’s need for one complete, consistent set of global sector and industry definitions.
“We believe that the adoption of GICS by CSE is very important step for sector investing and portfolio diversification. This globally accepted standard not only will enable foreign investors to analyze the sector diversity of the Sri Lankan equity market but also local investors to truly diversify.” CSE Chairman Vajira Kulatilaka said.
GICS classifies each company under 10 sectors, 24 industry groups, 67 industries and 156 sub-industries.
Colombo bourse
The world’s leading financial professionals across all investment disciplines, including asset managers, institutional investors, consultants, and researchers have adopted GICS as the classification standard. 
We are proud to be extending a very successful and strong relationship with the CSE, and look forward to being a part of the Sri Lankan equity market growth journey.” S&P Dow Jones Indices Equity Indices Product Management Managing Director Alka Banerjee said.
The CSE is implementing GICS as an alternative classification of companies for a pilot period of one year during which period the current classification would also be maintained, in order to make stakeholders comfortable with GICS and facilitate a smooth transition.
 “We are sure that the decision to adopt GICS would enhance the market infrastructure and help the investors to better understand the characteristics and change of industry structure. The gradual implementation of the project will help smooth transition from the existing classification to GICS,” CSE CEO Rajeeva Bandaranaike said. 
See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Frontline cops charge negligence by high-ups worsened police cluster

The police have done an invaluable service in the frontlines to combat the CO

US Vice President-Elect Kamala Harris’s Key Sri Lankan Tamil Aide

An overwhelming feeling of relief has descended upon the world-not merely th

The virus may be spreading much faster than official data suggest

The daily case reports from the Epidemiology Unit are the only data we have t

Credentials of official raise controversy

Amila Ishan Kankanamge, the Government appointed non-Executive Director to Mo

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.