‘Best Sector Research Report’ Silver for Softlogic Stockbrokers while Softlogic Invest was recognised as one of the best unit trust funds in SL
June 27, 2024: A flagship event in the CFA Society Sri Lanka calendar, this year’s CFA Capital Market Awards was held under the theme of ‘The Power of Public-Private Partnerships’, focusing on the current status of public-private partnerships in Sri Lanka and their future potential. Awards were presented under Best Sector Research Report, Best Research Team and Best Unit Trust Fund, in addition to 3 other categories.
Softlogic Stockbrokers, the full-service brokerage arm of Softlogic Capital PLC, won Silver for ‘Best Sector Research Report’, compiled by Shadini Silva and Nathashi Fernando on Sri Lanka’s tourism sector. This award recognises Softlogic Stockbrokers’ analysts’ efforts to produce best-in-class sector research and promote best practices in fundamental equity research, ensuring an informed and efficient capital market.
The evaluation process for the ‘Best Sector Research Report’ award involved an initial shortlisting of submissions, followed by a ranking of the shortlisted reports by an expert panel of judges. The evaluation criteria include a comprehensive industry overview and regional comparison, an assessment of industry attractiveness, an analysis of the competitive landscape, and an identification of industry challenges and risks. Winning the Silver award amidst such stringent criteria showcases Softlogic Stockbrokers’ commitment to raising industry benchmarks in conducting research in a way that is effective and meaningful to clients.
The award-winning report by Softlogic Stockbrokers provides an in-depth analysis of the tourism sector’s recovery and revival, projecting Sri Lanka to welcome approximately 2.2 million tourists in 2024 and generate over USD 3.5 billion in tourism earnings. The optimistic forecast is supported by several factors, including increased arrivals from key markets, improved socio-economic conditions and free Visa initiatives. The report also predicts improved hotel occupancy rates due to potential policy changes and efforts to attract MICE travellers, highlighting the strategic advantage of Sri Lankan hotel chains operating in the Maldives. Furthermore, the report highlights that key landmarks and mixed development projects like Port City and Cinnamon Life Integrated Resort are expected to enhance tourism growth.
Softlogic Stockbrokers also received a special commendation under the ‘Best Research Team’ category recognising its contribution to Retail/High-Net-worth Investors via a unique product offering that includes products such as Stockgpt.lk and AI-assisted investment tools backed by regular (weekly) investor webinars and research reports that have been offered to its clients consistently during the year (FY23/24) to assist its clients in their investment journey.
As a pioneer in introducing AI to Sri Lanka’s Capital Markets, Softlogic partnered with Microsoft’s cutting-edge Azure OpenAI services, to create “StockGPT,” which provides investors, financial analysts, and fund managers instant access to real-time, credible and secure information and market insights on companies listed on the Colombo Stock Exchange (CSE), the Central Bank of Sri Lanka and tourism sector related reports. Through this client-centric platform, even a new inexperienced investor is able to confidently and efficiently navigate financial markets to make informed and timely decisions without having to depend solely on investment advisors.
Softlogic Stockbrokers Director/CEO Dihan Dedigama commented, “It is a great honour to receive the Silver award for ‘Best Sector Research Report’ at the CFA Capital Market Awards. At Softlogic Stockbrokers, rigorous, insightful research is vital to fostering informed and efficient capital markets. This award is a testament to our team’s dedication and hard work. We will continue to strive for excellence, setting new benchmarks in research quality and contributing to the growth and development of Sri Lanka’s capital markets.”
In addition to Softlogic Stockbrokers’ success, Softlogic Invest was also recognised at the CFA Society Sri Lanka Capital Market Awards by receiving a Certificate of Commendation especially for its role in making investment solutions accessible to all of Sri Lanka. Under the ‘New Entrant’ category, this recognition not only highlights its commitment to excellence in fund management but also it’s dedication to maintaining high performance standards among unit trust funds.
Softlogic Asset Management CEO Niloo Jayatilake said, “We are thrilled to be recognised as one of the best unit trust funds in Sri Lanka at the CFA Capital Market Awards 2024. As a young player in the industry, this recognition is significant to us. It validates our commitment to delivering superior investment solutions and demonstrates the strength of our team’s expertise and dedication. Being recognised at a prolific industry awards ceremony like this inspires us to continue setting high standards and to build lasting value for our investors and stakeholders.”