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Substantial investment opportunities in equity market:

New fund management to assist local entities

The country has substantial investment opportunities in the equity market and more players would come in to the field with the peaceful environment created which is conducive to promote business. There is a positive outlook for the country’s financial industry to grow, Leopard Sri Lanka Operations Chairman Ranjit Fernando told Daily News Business.

The first ever fund management company to assist local entities to achieve long term goals by providing funds will be set up in Sri Lanka early next year with US $ 100 million fund capital under the name Leopard Sri Lanka Fund LP for private equity and Leopard Sri Lanka Value Fund for public equity.

Sri Lanka’s unit trust industry is yet to achieve its full growth. Private equity and fund management has the potential to grow in the next five years. There are opportunities to provide funding requirements for private companies, which are not listed in the stock market.

Awareness among the country’s investor public regarding profitable investment options is limited and in most instances it is the people who take deposits, he said.Most foreign institutional sources are keen on investing in private companies, but do not have direct links and it could be facilitated by fund managing companies. Therefore, fund managing companies have an important role to play, Fernando said.

“Our company would look at sectors such as tourism, IT and outsourcing, infrastructure including power, roads, warehousing, ports, port related industries, high value agriculture, value addition in agriculture and gem and jewellery. The company would make a concerted effort to support projects in the North and the East”, he said.

A fund management is created by attracting foreign institutional sources which have money to invest. The local company channels the money in selected investment options which run for five to ten years. With foreign investors gaining confidence in the country, Sri Lanka has a variety of opportunities to offer - such as a vibrant private sector, skilled entrepreneurship, laws to protect local and foreign investors and an easier place to conduct business, he said.

Leopard Sri Lanka will focus on building a diversified portfolio of leading businesses in key sectors such as tourism, retailing, food processing, infrastructure, financial services and property development.

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