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By Sarath Malalasekera

Professional Investment Advisors and Fund Managers are the major movers and shakers in global capital markets. They manage trillions of dollars on global investment and are a special breed. While endeavouring to get the best return possible of clients' funds, they should have the safety of such uppermost in their minds, Central Bank Governor A.S.Jayawardena said.

He was speaking at the CFA Charter's awards ceremony of the Chartered Financial Analysts (CFA) at the JAIC Hilton recently.

Seven candidates who completed the Chartered Financial Analyst (CFA) examination in 2001 and three candidates who completed the examination in 2000 were awarded CFA Charters.

The ceremony was organised by the Sri Lanka Association of Investments Professionals (SLAIP) and sponsored by the Sri Lanka Association of Securities and Investments Analysts (SLASIA).

The Governor said the establishment of a pool of fund managers is a long-felt need in the Country. "In recognition of this need, the Central Bank of Sri Lanka is encouraging its officers to obtain the CFA qualification. Twenty-two members have been enrolled to follow the program in 2002."

He said that all financial institutions and banks should refrain from publishing unethical advertisements which can mislead the public. Some advertisements announce that very high interests are being paid to the customers, but fail to mention it is calculated using the minimum balance.

The Governor said that what is needed in this new millennium is that investment and fund managers should continue to deliver the services required by their clients whilst operating within the regulatory frame work. This is where the investment advisors and fund managers need to have a clear vision of where they might be in a few years time, which may not be a very difficult task. The more challenging task is to build a path from where they are today to where they would wish to be tomorrow, he said.

President, Sri Lanka Association of Investment Professionals, Ravi Abeysinghe said that the growth of world financial markets has led to an unprecedented demand for qualified investment practitioners. Investors and employers need a standard with which to measure the knowledge, integrity and professionalism of the individuals whom they trust to manage their financial assets.

Mr. Abeysuriya said that SLAIP has also launched the Chartered Financial Analysts scholarship program in Sri Lanka for June 2002. The scholarships are funded by AIMR Society Scholarship Program and would enable five prospective candidates to sit the CFA level 1 examination for a reduced registration and enrolment fee of $ 150.

The CFA Charterholders are Nalin Rajahmoney, Prakash Jayamanne, Chandana Wijewardena, Sanjay Kulatunga, Jayantha Perera, R.F. Rajkumar, Kusal Jayawardena. G. Ramanan, Ravindra Amarasinghe, Prasanna Wickrematunga and Malinga Arsakularatne. 

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Copyright 2001 The Associated Newspapers of Ceylon Ltd.
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