Sri Lankan Capital Market garners overwhelming interest in New York
The Securities and Exchange Commission (SEC) and Colombo Stock Exchange (CSE) hosted “Invest Sri Lanka – Investor Forum” in New York, received an unprecedented response from the Investor Community in New York with over 220 participants attending the Forum and meeting with companies listed on the Colombo Stock Exchange.
The event, held at the J.W. Marriot Essex House Hotel in New York City, on the 4th of September, in association with the Embassy of Sri Lanka in Washington D.C. and event partners Bloomberg and ACHAM Sri Lanka; provided Fund Managers, with over 100 Million USD under their management, a plethora of information on the merits of investing in the Sri Lankan Capital Market.
An exceptional feature of the Forum was the remarkable endorsements of the Sri Lankan Capital Market by Mr. Ruchir Sharma, Head of Emerging Markets from Morgan Stanley Investment Management, Mr. Michael O’Hanlon, Senior Advisor at TPG Capital and Mr. Stephen Jonathan FX Application Specialist at Bloomberg.
The programme featured an overview of the Sri Lankan economy and the prospects for the future, in the Economic Outlook presentation made by Governor of the Central Bank Mr. Ajith Nivard Cabraal. Which was followed by the keynote address delivered by Senior Minister of International Monetary Cooperation and Deputy Minister of Finance and Planning Hon. Dr. Sarath Amunugama, who touched on the social and political developments in Sri Lanka which would make it a more attractive central position for regional commerce in the South Asian region. To further, edify the audience Mr. Vajira Kulatilaka, Chairman of the Colombo Stock Exchange, made an informative presentation on the opportunities in the Sri Lankan Capital Market.
Sri Lankan Ambassador and Permanent Representative of Sri Lanka to the United Nations Dr. Palitha Kohona made the welcome address.
“Investors are very keen to get new leadership in different places, because the old model seems tiered. If you look at the historical template what we tend to see is that markets tend to do very well in the first term of a new leader. In Sri Lankaâ€™s case we know that the political leadership has done a very solid job of turning the economy around, of making it a very attractive investment destination,” Mr. Ruchir Sharma from Morgan Stanley said.
“We have gone into many other countries, what we found in Sri Lanka is that the regulators were both commercial and accessible. The places where we had the greatest success have been the places where we have been in partnership with the regulators; particularly the banking regulators and the securities regulators, because we can work with them to bring the banks and the other financial regulators forward,” Mr. Michael Oâ€™Hanlon from TPG Capital said.