Sri Lanka : Bond, Stock Managers find opportunities in Sri Lanka- Barron s.
The magazine reported that on the equity side, some emerging market managers note that the country has a fair share of dividend-payers. As infrastructure is built out in the country, especially in the North which has been neglected for decades, banks may be a good way to play the growth.
David Ruff, a manager on the Forward International Dividend (FFINX) and Select Emerging Market Dividend (FSLRX) funds, says the banks have a huge deposit base from the country s tea farmers. And as hotels and other infrastructure is built, banks are growing.
The opportunity created by the country s development, especially of its tourism industry, is attractive over the long-term, the Barron s said.
While much of the developed world is in the midst of a major de-leveraging, Sri Lanka is just beginning a leveraging cycle as it rebuilds. Kristin Ceva, who oversees $5.3 billion in emerging market bond assets for Payden & Rygel including the Emerging Market Bond fund (PYEMX), is one of several bond managers who likes the country s local bonds, noting that IMF oversight adds comfort over the country s central bank policies.
2012 Al Bawaba (Albawaba.com)
Provided by Syndigate.info an Albawaba.com company
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|Article Type:||Brief article|
|Date:||Sep 3, 2012|
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