CFA Sri Lanka holds Capital Market Awards
Capital markets have the potential to be engines of economic growth by providing the public with investment opportunities and mobilizing their savings for productive corporate financing. To support capital market development, it is important to ensure high professional standards and ethics are maintained among market professionals.
CFA Society of Sri Lanka launched its Capital Market Awards in Sri Lanka at a glittering event at The Kingsbury Hotel Balmoral Ballroom recently. The event was coupled with the forecast dinner, a very popular CFA Institute event which the society has reintroduced to its annual calen- dar. The awards segment saw CFA Sri Lanka recognizing achievements by firms and practitioners in two key areas vital for the efficient functioning of capital markets, equity research and investor relations.
The first time winners were JB Securities (Pvt.) Ltd, who walked away with the Gold trophy for Best Equity Research Report and Dialog Axiata PLC was awarded the Best Investor Relations Gold trophy. IIFL Securities and Capital Alliance won the Silver and Bronze awards respectively, for the Best Equity Research Report whilst, HNB and John Keells won the Silver and Bronze awards, respectively for Best Investor Relations.
Speaking at the event, CFA Sri Lanka President Sheyantha Abeykoon said that through the introduction of the awards, the society hopes to encourage adherences to best practice by market participant and uplift the overall standards of professional excellence and integrity in the market place.
Securities and Exchange Commission (SEC) Chairman Dr. Nalaka Godahewa addressed the audience after handing over the trophies. He stated that apart from robust regulation, proper awareness and education are also effective means of protecting the interest of investors. One of the 10 key projects in the road map developed by the Securities and Exchange Commission of Sri Lanka is dedicated to education and awareness.
In order to assist investors to make informed investment decisions the SEC has been committed to improv- ing the levels of financial literacy among retail investors. He said an educated investor is capable of protecting himself; hence, it should be their duty to provide him with the necessary information. He commended CFA for recognizing those who provide quality information to investors.
During the forecast dinner segment that preceded the awards segment, the audience had the benefit of listening to a prognosis of the markets and the economy from a distinguished panel of experts comprising of Dr. Indrajit Coomaraswamy, Suresh Shah, Vajira Kulathilake and Dr. Michael Ivanovitch. A recurrent theme that was highlighted during the panel was the need for policymakers to balance the use of monetary and fiscal tools for the management of short-term macroeconomic cycles with a gradual focus on structural economic reforms.
CFA Sri Lanka is the local chapter of the CFA Institute based in Charlottesville in the US. The institute is a global association of more than 116,000 members in 137 countries which champions the cause of professional excellence and ethical behaviour in financial markets. It administers the award of the CFA Charter, widely recognized as the gold standard in the investment profession worldwide.