IIFL Ceylon positions Sri Lanka as a frontier market
IIFL Ceylon positioning Sri Lanka as a frontier market for foreign
institutional investments launched Enterprising Sri Lanka, a
comprehensive insight to the Sri Lankan market. The Chief Operating
Officer/Senior Vice President, Capital Markets of IIFL Ceylon Sherman
Gunatillake, said that Enterprising Sri Lanka reveals recent positive
economic development in the country, identifying key growth areas,
showcasing leading corporates and visionaries.
Enterprising Sri Lanka carries a message to international funds and
investors to take part in the rising potential in Sri Lanka.
Gunatillake expects Enterprising Sri Lanka to play a significant role
in IIFLís attempts to attract Foreign Direct Investments (FDIs) and
portfolio investments to the country.
This will also effectively support the countryís efforts to increase
awareness and promote Sri Lanka as a growing investment destination.
Commenting on the present market conditions, Gunatillake, a veteran
equity researcher said that the growth demonstrated in the Colombo stock
market until early this year was unparalleled in any other world stock
Investors who are looking for rapid growth of their portfolios would
be more than happy to see growth potential like this in any market.
However, there is a rationale for a market to perform. Gunatillake
said that what is important is that investors should be fully aware of
the support level and also to know the fundamental values in the market.
He said that markets will not stay up or down forever.
There are times to take position of stocks and times to take profits.
Gunatillake said that with the declined conditions of the market during
the past few weeks creates buying opportunities for foreign
There are stocks with good value to get in to, but key counters with
heavy weighting in the market have risen beyond their fair values, said
He said that IIFL Securities Ceylon is the Sri Lankan institutional
equities arm of the IIFL Group and a full-fledged trading member of the
Colombo Stock Exchange. He said that IIFL Sri Lankan team is constantly
engaged in positioning Sri Lanka as a frontier market for foreign
institutional investments. -SG