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.

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

Comments - 0

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.

Colombo bourse embraces GICS on 30th anniversary

Comments - 0

Add comment

RECOMMENDED

UDA owned land in Thalawathugoda; UDA Minister Prasanna Ranatunga under the spotlight for forceful occupation of reserved land

Loss-making SMIB faces political pressure in recovering loans

Baltimore Bridge Collapse: MV Dali, SL authorities anchored in mystery?

Has Sri Lanka become a potential hub for the illegal wildlife trade?

Spotlight on Moragahakanda Development Project Moragolla villagers lose livelihoods and down to one meal a day

Ambitious Sri Lankan jobseekers ‘trafficked into Ukraine war zones’

Western purple-faced langurs see blue!

Most Viewed in News

A US “Kaputa”, a Lankan “Nariya” and a Presidential “Feast”

Street food vendor arrested for verbally harassing foreigner

Racing event tragedy leaves seven dead including eight-year-old child

Two racing drivers arrested over Fox Hill tragedy

Former MP Palitha Thewarapperuma dies from electrocution

SL on alert on possible genocide allegations by Canada

MIRROR CRICKET

Athapaththu back atop ICC Women’s ODI Batting Rankings

Chamari Athapaththu sets big goal for T20 World Cup

How does CSK get best out of Pathirana?

Mendis, Mathews move up in ICC Test Rankings

TODAY'S HEADLINES

United States and SL Navy collaborate in CARAT 2024 exercise in Trincomalee

Upcountry estate workers stage a token strike

People have already selected Ranil for Presidency: Prasanna

Construction work for India-funded 10,000 housing units commenced

Sri Lanka secures third spot in South Asian Kurash Championship 2024

Athapaththu back atop ICC Women’s ODI Batting Rankings

Army forms committee to probe Diyatalawa Fox Hill Supercross accident

Indian cricket manager indicted for Legend Cricket League match-fixing allegations