EPF ready to buy - Biz ada derana

The Deputy Governor of the Central Bank of Sri Lanka, H A Karunaratne today (30) stated that the Employees' Provident Fund had been active even during the last quarter and added that, even though EPF wanted to purchase certain stocks, the required parcels were not available in the market.

He revealed this in response to a question put forward by a journalist during the monetary policy review press conference held at the Central bank this morning (30).

“Even during the last quarter, we have been in the market. But unfortunately, though EPF wanted to purchase certain stocks that required parcels were not available in the market. But it doesn’t mean that we have not been in the market. We have our principles, norms, and strategies so depending on that we are in the market,” Karunaratne stated.

"Again with regard to the loss-making stocks, depending on the decisions of the investment committee timely actions will be taken,'' he added.

Journalist - Now the EPF portfolio published yesterday shows that you have not purchased anything except for the Seylan Bank rights issue. So now you are saying that EPF has been active. So either you are wrong or the portfolio you published yesterday is wrong?

Deputy Governor- Seylan Bank rights issue is also an equity market transaction.

Journalist -Other than that have you engaged in any other transactions?

Deputy Governor- According to my understating, we have been engaging in other transactions.

Fucking EPF is ruining srilanka economy

They have wasted the people’s money in the past. Now there is a opportunity to take it back , this is a lifetime opportunity in the CSE. “What ever said and done everyone knows the truth”

This is stealing our hard earned money and bad for economy

Mr @Thilina I believe the reason you are in this forum is you have invested/ investing in CSE , & you want to make good money through your investments & you believe CSE has a good future in coming years !

So don’t you think we can applied the same concept to the EPF

before that answer my question. why gvt companys are always loss and privet companys are most of the time profitable?

reason is gvt companys there is no motivation to monitor and be success. always the fraud will win

i  pvt companys owners will not give chance fraud to win

Hahha, again EPF will buy GRAN 250, LGL 60, By using dirty political power and history can be repeated. God bless the largest fund in sri lanka. EPF members be in alert . Last 20 years, you fund was stolen by politicians . Bonds, debentures , shares,especially some shares were not listed in Colombo stock exchange but privately owned shares also purchased with Members hard earn money. Really unpleasant situation .

disgusting EPF officers should keep away from the market. gvt ballo seratama nadu danna one ahinsaka minissunge salli wancha karanawata. if they invest they should invest in global top 20. like apple shares/mirosoft/ birkshire /coca cola. they are investing srilanka = some ware going big fraud

EPF will buy overvalued shared deals with owners.

People want to be robbed their money that's why the elected robbers again to manage the public funds. These rubbers have invested a huge amount of money in unlisted stock also. Now total loss is 23 billion but foolish citizens of this country do not care and not questioned them. instead of questioning them they worship them like kings and gods.  

India has a far better system than ours. EPF depositors can allocate their fund in the different asset class as they wish. But in equity maximum of 15%. If I have this option I will not invest 1 cent in Stock market.

those who telling "EPF done better investment" just tell me any good investment they make in history? 


with our EPF money indirectly Gov control companies 
If they over 10% Gov can assign any director they like 

ColomboCSE wrote:those who telling "EPF done better investment" just tell me any good investment they make in history? 


with our EPF money indirectly Gov control companies 
If they over 10% Gov can assign any director they like 

Can't we expect a good investment this time?

History doesn't matters if future is golden. Lets see what will they do this time.

KavinduTM wrote:

ColomboCSE wrote:those who telling "EPF done better investment" just tell me any good investment they make in history? 


with our EPF money indirectly Gov control companies 
If they over 10% Gov can assign any director they like 

Can't we expect a good investment this time?

History doesn't matters if future is golden. Lets see what will they do this time.

History gives lessons. And they learned them so well.

And we can believe GR.

Ekanayake90 wrote:They have wasted the people’s money in the past. Now there is a opportunity to take it back , this is a lifetime opportunity in the CSE. “What ever said and done everyone knows the truth”

Yeah 

KavinduTM wrote:Can't we expect a good investment this time?

How can we?
we don't have good rules...
no one take responsibility 
they are investing our EPF money basically they don't care

KavinduTM wrote:History gives lessons. And they learned them so well.

just give me one lesson they learn...

ColomboCSE wrote:

KavinduTM wrote:Can't we expect a good investment this time?

How can we?
we don't have good rules...
no one take responsibility 
they are investing our EPF money basically they don't care

KavinduTM wrote:History gives lessons. And they learned them so well.

just give me one lesson they learn...

There you go "
@CMP(12.5)
38.89% gain (rs192.5M)

Ekanayake90 wrote:

ColomboCSE wrote:

KavinduTM wrote:Can't we expect a good investment this time?

How can we?
we don't have good rules...
no one take responsibility 
they are investing our EPF money basically they don't care

KavinduTM wrote:History gives lessons. And they learned them so well.

just give me one lesson they learn...

There you go "
@CMP(12.5)
38.89% gain (rs192.5M)

@Ekanayake90 EPF first enter to dialog 2016.01 to 2016.03 do calculation your own total EPF holdings...  and 3 years time how much profit they make....
and remember if they need to sell within one day they can not sell 12.50... you need to be realistic...

my personal view is... they did not make good profit last 3 years with inflation and currency depreciation...

Actually there are no shares to buy in CSE big funds like EPF. They should invest overseas or any other type of business . You should understand what im saying here

Yeah Teller. Please give EPF some leads approved by ISIS & Diaspora.

@kipling, if EPF enters, they should get the control power of the company. Then they can change the dividend policy , then they can get a considerable return. Other wise investing aims to capital gain not a recommended plan for them always. In cse most of the companies are not paying dividends some pays peanuts only.

"""The fund has set a target of doubling its investments in stocks to 6 percent of its total assets, as government requirements for debt funding falls in the future"""

ECONOMYNEXT- The listed equities portfolio of the Employees’ Provident Fund (EPF), a superannuation fund of private sector worker savings, has grown 10.03 percent to 66.3 billion rupees in the December quarter despite a passive management.

The only movements in the portfolio during the quarter were 362.8 million rupees in Seylan Bank voting and non-voting shares through a rights issue. The Laugfs Power shares moved from the unlisted equities to the listed portfolio.

Even discounting for these two movements, the EPF portfolio had grown 9.4 percent during the quarter, outperforming the market.

The All Share Price Index of the Colombo Stock Exchange had grown 7.28 percent during the same period.

The stock market continued its positive momentum experienced since May during the final quarter of 2019, buoyed by the Presidential elections and wide tax cuts which followed, especially for the construction industry.

The LOLC Holdings Plc investments by the EPF added 810.73 million rupees to the portfolio, the highest in absolute terms, with a growth of 43 percent.

The stock price of LOLC, a non-bank financial group, boomed in December following the firm divesting its Cambodian microfinance subsidiary PRASAC to a Korean bank for 603 million US dollars.

The highest gain in the portfolio came from ACL Cables Plc, a construction material manufacturer, appreciating 50.92 percent or 114.6 million rupees.

The fund’s largest investment is in Commercial Bank (8.79 billion rupees), and the counter fell 3.16 percent during the quarter, impairing 286.9 million rupees.

Meanwhile the second largest investment, in Sampath Bank, gained 6.14 percent, adding 357.6 million rupees and the third largest Hatton National Bank Plc grew 11.89 percent, adding another 715.8 million rupees to the portfolio.

Although the portfolio gained in December, it is still lower than the 83.7 billion rupees in investments made when initially buying shares.

Most of the shares were bought pre-2011, when the EPF stopped stock market investments following allegations of third party dealers pumping stocks and dumping to the superannuation fund.

The EPF re-entered the market in May with purchases in telco Dialog Axiata Plc and the knit fabric manufacturer Teejay Lanka Plc , giving a boost to a stock market which was reeling from the Easter Sunday terror attacks.

The then governor Indrajit Coomaraswamy had said that the EPF did not divest loss-making stocks as the market multiples were low.

Impairment losses totaling billions of rupees have been made, with the largest losses made on Carson Cumberbatch Plc, Bukit Darah Plc and Colombo Dockyard Plc.

The EPF had not sold such stock in the December quarter as there were no market participants who were willing to buy large parcels, Central Bank Deputy Governor H. A. Karunaratne said on Thursday.

The fund has set a target of doubling its investments in stocks to 6 percent of its total assets, as government requirements for debt funding falls in the future.

Around 93 percent of EPF investments are in Treasury bonds.(Colombo/Feb03/2020)

ද ෆිනෑන්ස්, අර්ථසාධක අරමුදලේ රු. මිලියන 205 ක් ගිලියි

https://economynext.com/sri-lankas-epf-stock-portfolio-soars-in-dec-outperforms-market-45747/

China state banks pimped $126 billion yesterday to keep the market from a free fall yesterday. Fell 7% odd yet. Today it's stabilised. World markets are up. We should be up ideally tomorrow too!
Hope for the best!