CSE safe and vibrant
Sanjeevi Jayasuriya
The Colombo stock market is safe as it has the necessary regulations
in place.
Malik Cader |
The recent breakdown of the Bangladesh stock market will not have any
impact on the Colombo stock market.
“We have arrested the situation before hand and taken the necessary
precautions,” Securities and Exchange Commission Sri Lanka
Director-General Malik Cader told Daily News Business.
“The stock market activities will continue unaffected and we could
expect vibrant performance same as at present level,” he said.
“We have the required regulatory framework regarding the Exchange
Traded Fund (ETF) and with the relevant gazette notification this
facility is expected to function within two months,” he said.
The country’s ETF will be in gold as it is in other countries and the
fund manager will underline gold units which can be traded in the
exchange.
This is the most safest place for any one to trade gold and could
benefit from world market price increases. ETFs are funds that is
similar to a close ended unit trust.
However the difference of this fund is that it also can been an open
ended fund as well.
An additional feature is that the ETF could have precious metal which
has benchmark valuation such as gold to be traded as an underline asset
and units to be issued to investors.
These units will be traded as Gold ETF on the CSE. |