Winners of CFA Sri Lanka Capital Market Awards 2022
The ninth annual CFA Capital Market Awards, organized by the CFA Society Sri Lanka, was held on Wednesday, June 29 at the Oak Room at Cinnamon Grand Colombo, recognizing and rewarding excellence in local capital markets, l this year’s event focusing on the theme “Blockchain Revolution in Sri Lanka’s Capital Market”.
During the opening remarks of the event, CFA Society Sri Lanka President, Dinesh Warusavitharana, CFA, reiterated that the CFA Capital Market Awards “recognize the commitment to excellence of capital market participants despite the market challenges we faced.”
“This year, we focused on innovation in the global financial market and chose to explore the impact of the blockchain revolution on the Sri Lankan capital market, given the ongoing developments in the market. cryptocurrencies. We are pleased to note that the Sri Lankan government is also exploring the feasibility of blockchain-related initiatives, and hope that greater focus and further exploration of blockchain technology will support financial innovation and benefit Sri Lanka’s future growth,” he added.
Nadika Ranasinghe, President of the CFA Capital Market Awards, said, “I take this opportunity to congratulate all of the winners tonight and would also like to thank everyone who participated from across the industry for their strong commitment to maintaining the highest standards. in these unprecedented times. I hope that participants will incorporate the comments provided by the judges and continue to raise the standards of excellence. I believe we are at a time when investors’ reliance on analysts in the field is at an all-time high to provide accurate and unbiased analysis to navigate these volatile conditions.
She also expressed the CFA Society’s gratitude to the judges, for their tireless efforts to evaluate and select the best among their peers, despite travel restrictions, power outages and many other challenges. Judges for each award category included both CFA charterholders and industry experts.
The awards were presented in the five categories of Best Stock Research Team, Best Equity Research Report, Best Sector Report, Best Investor Relations and Best Investment Fund, with awards from gold, silver and bronze in each category.
Capital Alliance Securities Ltd. received the gold medal for the best research team in brokerage as well as the highest honors for the best sector report. CT CLSA Securities received the Gold Award for Best Equity Research Report. Meanwhile, Sunshine Holdings PLC received Gold for Best Investor Relations and Money Market Fund Senfin came out on top as Best Trust Fund.
As part of the Best Stock Market Research Team award, Asia Securities Ltd. received the silver medal, while CT CLSA Securities Ltd. received the bronze medal. In the Best Stock Research Report category, Capital Alliance Securities Ltd. won Silver and Bronze awards. As part of the investor relations award, silver was won by National Development Bank PLC, while Dialog Axiata PLC and John Keells Holdings PLC received joint bronze. The judges awarded a special mention to Expolanka Holdings PLC in this category, in recognition of improved investor relations practices over the past year.
JB Vantage Short-Term Gilt Fund won the Silver award in the Best Unit Trust Fund category, while the Bronze award was not given. Asia Securities Ltd. and Capital Alliance Securities Ltd. were jointly awarded the Bronze award in the Best Industry Report category, while the Silver award was not awarded.
Judges praised the dedication shown by research teams to provide uninterrupted service to clients while introducing new research products amid the challenges posed by the COVID-19 pandemic, as well as the introduction of new formats dissemination of research such as webinars and video reports. , in response to customer preferences.
However, they recommended that teams consider disseminating research in a faster and faster way without compromising the quality and integrity of the research process, further improving the depth of coverage and demonstrating the expertise of the research. industry and sector, which is highly valued by customers.
With respect to investor relations, the judges acknowledged that a few companies encourage broader public participation in investor forums through public invitations posted on their websites, while a growing number of companies make their analyst forum/briefing recordings available online. The judges, however, found it necessary for most listed companies to adopt basic investor relations practices beyond the minimum guidelines stipulated by regulators.
The keynote address for this year’s event was delivered by Gabriella Kusz, CEO of the Global Digital Asset & Cryptocurrency Association (DCA) and Vice Chair of the Government Blockchain Association (GBA) Regulators Working Group. , followed by a Q&A moderated by Travis Gomez, CFA.
The discussion focused on the adoption of cryptocurrency as an investment asset class in Sri Lanka and the regulatory hurdles and implications of cryptocurrency adoption, and how to address them. overcome.
The 2022 CFA Capital Market Awards were sponsored by Colombo Stock Exchange (Platinum Sponsor), Acuity Partners (Silver Sponsor), Capital Alliance Group (Silver Sponsor), First Capital (Silver Sponsor), NDB Capital Holdings (Silver Sponsor), Senfin Asset Management (Silver Sponsor), Uzabase Sri Lanka (Silver Sponsor), Acuity Knowledge Partners (Knowledge Partner), Daily FT, Daily Mirror and The Sunday Times (Print Media Sponsors) and TextWare (Text Messaging Partner).
The CFA Institute is a global association of investment professionals offering the Chartered Financial Analyst designation. Founded in 2001, the CFA Society Sri Lanka is a non-profit organization supporting the professional development and advancement of CFA charter holders and candidates in Sri Lanka. Its members, which number more than 240, are CEOs, CFOs, portfolio managers, equity analysts, banking professionals, investment advisers and other senior financial practitioners, and more than 500 candidates, mainly in the financial sector.