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| Sunday, 22 May 2005 |
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Calpers to include CSE for future investment? by Hiran H. Senewiratne The United States's largest pension fund Calpers has included Sri Lanka's Colombo Stock Exchange (CSE) in their list for future investment. Calpers has been investing funds in most countries and may invest here, CSE Senior Manager, Marketing Rajiva Bandaranaike said. He said the CSE has been classified as the fourth best performing market in the world by Bloomberg early this year. Bandaranaike also said the CSE has also been classified as the second best emerging market in the world by the Fortune Magazine in September 2003. Reuters has also highlighted the CSE as Asia's top performing market last year. He said that during the last three to four years the CSE registered an overall growth of 30 per cent in the All Share Price Index (ASPI) and Milanka Price Index. The ASPI had recorded a healthy growth of 30 per cent during the last few years. He said that during the first four months of the year the CSE recorded a growth of 18 per cent despite political uncertianities in the country. The reasons for the healthy growth was due to low interest rates, growth in company earnings and no war situation, he said. According to Bandaranaike the CSE is active with mid cap stock dealings owing to high individual participation in the market. Eighty percent of the money generated locally will be through individual and institutional investments, while the rest are from foreign investors. |
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