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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Ranil raises concerns over investing EPF and ETF funds

Ranil raises concerns over investing EPF and ETF funds

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Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Friday , 22 June 2012
Opposition Leader Ranil Wickremesinghe raised concerns in Parliament on investing EPF and ETF funds in the Colombo Stock Exchange.

’’Recently the media carried news items alleging fraud and market manipulations in share transactions. This includes a push and jump strategy in which speculators pushed the value of shares and then dumped them on these two funds resulting in a loss for the funds and gain for speculators.’’

’’The Standard and Poor’s banking industry country risk assessment has stated "Our economic risk:
score of 8 for Sri Lanka reflects a "very high risk" assessment of economic resilience and credit risk iii the economy, and a "high risk" assessment of’ economic imbalances as our criteria define those terms.’’

’’Therefore this House requires details of all the transactions of the two funds to make a considered
decision regarding the truth or otherwise of these allegations and further action if any to secure the funds,’’ said Leader of the Opposition Ranil Wickremesinghe

’’The EPF has authority to make investments in the stock market. The EPF Act Section 5 (I) (e) states that the Monetary Board may invest the monies of the fund in such securities as the Monetary Board may consider fit and may sell such securities.’’

The EPF has also consistently maintained that all its investments have been made in line with the guidelines issued from time to time by the Monetary Board. Accordingly, there may be times during which the value of certain stocks could be lower than the cost, but such situations are almost always reversed when external factors change for the better.’’

’’What is experienced in the Colombo stock exchange is a bearish trend in the market where prices of all shares are trading at considerably lower rates than those that prevailed several months ago. This is not an unusual phenomenon today with almost all stock markets all over the world experiencing downturns.’’

’’The EPF has realized 2,504 million as capital gains and dividends in 2011 and realised over Rs. 1,559 million as capital gains and dividends, so far in 2012. Hence there is clearly no risk of the EPF incurring any real loss during this bearish phase of the stock market.’’ responded Senior Minister for International Financial Coorporation Dr. Sarath Amunugama.
http://www.newsfirst.lk/english-news/?view=news_more&id=13410

Malika1990

Malika1990
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
අර්ථ සාධක අරමුදල විසින් බැංකුවල කොටස් මිලදී ගැනීම පිළිබඳව විවේචන එල්ල වෙද්දී සේවක අර්ථ සාධක අරමුදලේ සහ සේවක භාරකාර අරමුදලේ සියලු ගනුදෙනු පිළිබඳව විස්තර පාර්ලිමේන්තුවට ඉදිරිපත් කරන ලෙස විපක්ෂ නායකවරයා ඉල්ලයි.

විපක්ෂ නායක රනිල් වික්‍රමසිංහ මහතා ඊයේ පාර්ලිමේන්තුවේදී මෙම ඉල්ලීම ආණ්ඩු පක්ෂයෙන් කළේය.

මේ අතර, එයට පිළිතුරු ලබාදෙමින් සේවක අර්ථ සාධක අරමුදල විසින් මුදල් ආයෝජනය කරන්නේ සුපරික්ෂාකාරීව සහ දිගුකාලීන ප‍්‍රතිලාභ අපේක්ෂාවෙන් යැයි අමාත්‍ය සරත් අමුණුගම කීය.

ස්ටෑන්ඩර්ඩ් ඇන්ඩ් පුවර්ස් ජාත්‍යන්තර ණය වර්ගීකරණ ආයතනය පසුගියදා පෙන්වා දුන්නේ මහ බැංකුව විසින් පාලනය කරන සේවක අර්ථ සාධක අරමුදල විසින් මහ බැංකුව නියාමනය කරන බැංකුවල කොටස් මිලදී ගැනීම නිසා නියාමන ගැටුමක් ඇතිවී තිබෙන බවයි.

එක්සත් ජාතික පක්ෂ පාර්ලිමේන්තු මන්ත්‍රී ආචාර්ය හර්ෂ ද සිල්වා විසින්ද සේවක අර්ථ සාධක අරමුදල විසින් බැංකුවල කොටස් මිලදී ගැනීම පිළිබඳව දැඩි විවේචන එල්ල කර තිබෙන අතර මෙය අභ්‍යන්තර තොරතුරු දැනගෙන සිදුකරන insider dealing නැමති සුරැකුම් වංචා ගණයට වැටෙන වරදක් බව ඔහු අවධාරණය කරයි.

මීට අමතරව, මෙම කොටස් මිලදී ගැනීමට එරෙහිව එල්ලවන තවත් චෝදනාවක් වන්නේ සේවක අර්ථ සාධක අරමුදලේ සාමාජිකයින්ට වැඩි පොලී ආදායමක් උපයා දීමට අරමුදල අරමුණු කරන විට මහ බැංකුවේ රාජ්‍ය ණය දෙපාර්තමේන්තුව අඩු පොලියට රජයට ණය සම්පාදනය කිරීමට අරමුණු කිරීමද මෙහිදී ගැටුමක් ලෙස තිබෙන කාරණාවක් බවයි.

කෙසේවෙතත්, මෙම චෝදනාවන්ට පිළිතුරු දෙමින් මහ බැංකුව පවසා තිබෙන්නේ සේවක අර්ථ සාධක අරමුදල වෙනමම ස්වාධීන දෙපාර්තමේන්තුවක් ලෙස මහ බැංකුව පාලනය කරන බවත් එහි රහසිගතභාවයට අනිකුත් දෙපාර්තමේන්තු වලට ඇඟිලි ගැසිය නොහැකි බවයි.

මේ නිසා, ස්ටෑන්ඩර්ඩ් ඇන්ඩ් පුවර්ස් කියන ආකාරයේ නියාමන ගැටුමක් අර්ථ සාධක අරමුදල බැංකුවල කොටස් මිලදී ගැනීමේදී සිදු නොවන බව මහ බැංකුව අවධාරණය කර තිබේ.
http://www.vimasuma.com/new_full_story.php?subcatcode=2&newscode=716129236

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