Stock market to see more funds post NY forum
View(s):With the New York investor forum held this week, the Colombo Stock Exchange (CSE) will see more funds coming into Sri Lanka, a CSE official says.
The forum with over 200 participants, including 150 major US Institutional Investors who manage assets over US$ 100 million saw Head of Emerging Markets, Morgan Stanley Investment Management Ruchir Sharma, Senior Advisor at TPG Capital Michael O’Hanlon and Bloomberg FX Application Specialist Stephen Jonathan address the participants.
“The Singapore forum was held in January and the Securities and Exchange Commission (SEC) has been communicating with attendees who registered for the event directly through SEC/CSE,” the official said, adding that they’ll gather evidence on whether the Road Show attendees have invested in the Sri Lankan market and to further promote foreign investor participation.
As at end last year, the SEC had approved 178 funds while 111 funds have been approved as at 31st August this year.
He said the Global Fund Manager’s Conference is to be held on October 9 and the SEC has sent the invitations to global fund managers.
The SEC is currently concentrating on potential investment products to be initiated in the Sri Lankan Capital Market including Real Estate Investment Trusts (REITs) and Exchange Traded Funds (ETFs). Potential markets to be studied for the purpose are Singapore, Malaysia and the Philippines.