Amba’s Equity Investment Analyst Training Program qualifies for 40 continuing education credit hours

Amba Research is pleased to announce that its Equity Investment Analyst Training Program has been approved by the CFA Institute. CFA Institute members will receive 40 CE credit hours for their participation in the program.

Amba’s 10-day Equity Investment Analyst Training Program is a practical, hands-on training program that is designed to guide its participants through all the essential aspects of the entire equity research cycle, including industry attractiveness assessment, earnings forecast model-building, valuation, and presenting investment recommendations.

A key differentiator in Amba’s program is the use of real-life case studies. These are delivered by an experienced panel of equity investment practitioners in small class sizes that allow significant studentinstructor interaction. In addition, the training program reinforces the process of critical thinking, attention to detail, and meeting deadlines. This training is relevant to anyone who is seeking entry into the equity research industry. The training delivery panel consists of Chanakya Dissanayake, CFA, SVP Global Head of Training and Knowledge Management; Aruna Perera, CFA, VP and Global Head of Knowledge Management; Aidha Ahamat, ACMA, VP and Head of Training, Colombo; and Dr. T.P. Madhusoodanan, VP and Head of Training, Bangalore.

Amba’s Group CEO Anand Pande says, “…for the past six years Amba has invested in its training and knowledge management functions because we recognize the need for our analysts to have a solid foundation in order to better serve our growing client base. We are excited about the approval of the program by the CFA Institute and will like to take this best-in-class program to a broader audience.”

The current global economic crisis has had its most significant impact on the financial services sector, which has historically driven much of the growth in the outsourcing industry. According to Sanjay Kulatunga, Director Amba Research, although this has resulted in some short-term impact on growth in the outsourcing industry, from which Amba Research has not been immune, the medium and longer-term outlook for the investment research outsourcing sector looks positive as outsourcing takes a more strategic position within the equity research and asset management industries.

The market crisis has forced the financial sector to re-examine its outsourcing strategies. In a white paper entitled “Black September: Fifteen emerging trends in capital markets” that was published by Amba Research in the midst of the crisis, it was highlighted that the structural changes caused by the downturn in the financial markets will result in more work being outsourced. We are now seeing significant interest from large potential clients, especially among institutional asset managers who seek to effectively maintain and expand their research programs in the midst of shrinking coverage from the sell-side, stated Mr. Kulatunga.

One area of growth for Amba, contrary to the overall industry trend, has been in the quantitative services business. Amba‟s „quant‟ business which actively hires engineering, science, and mathematics graduates from Colombo and Moratuwa Universities, provides services in the areas of statistical modeling, trading strategy analysis, derivatives pricing and Risk management. According to Dr. Naveen Gunawardane, Head of Quantitative Research at Amba Research Lanka, Risk Management is an area which has come into particular prominence in the current environment.

Over the last five and a half years since Colombo was chosen as its first outsourcing location, Amba Research has become a leading provider of investment research support services to the global capital markets industry.

Amba works with clients in all the world‟s major financial centers, with over half of the major global investment banks, investment management firms, alternative asset managers, commercial banks and other financial services firms. Amba research is rated as the country‟s foremost Knowledge Process Outsourcing provider in the financial services industry.

In its brief existence Amba has trained over 340 young Sri Lankan finance professionals in providing investment research to developed global financial markets. According to Dr. Kemal de Soysa, Country Delivery Head, staff training at Amba Research is based on the best practices followed by global investment banks and asset managers. Amba Research Lanka maintains very strong bonds with local educational institutions, such as the universities and professional educational bodies at which many of ARL‟s all-Sri Lankan staff have been educated. “We strongly encourage staff involvement in the continued development of financial studies at these institutions,” stated Dr. de Soysa.

 According to Mr. Kulatunga Amba‟s growth prospects in Sri Lanka will get a significant boost as a direct result of the end of the war. This will in turn result in investor confidence in outsourcing more high-end financial services to Sri Lanka. “We believe that Amba will be able to significantly increase its operations in Sri Lanka and provide employment not only to local, financial professionals but young Sri Lankans returning back to the country looking for a career in the capital markets space” stated Mr. Kulatunga.

Amba Research has launched an Equity Investment Analyst training program for Sri Lankan financial market professionals, the first of its kind in the country.

“Amba’s Equity Analyst Training Program provides hands-on guidance on financial modeling, equity valuation and investment note writing under direct supervision of practicing investment professionals,” said Amba’s Head of Knowledge Management and Training, Chanakya Dissanayake.

After conducting successful trial sessions late last year, Amba Research completed the 10-day course for its first official batch in January 2009.

The program was conducted in association with the Securities and Exchange Commission’s Financial Services Academy (FSA).

The first batch included participants from prestigious local financial institutions including the EPF, Union Assurance, HNB Assurance, DFCC, Capital Alliance, and the Central Bank of Sri Lanka.

The batch of ten finance professionals was taken through an intense course combining concept training with hands-on case study submissions. The workshop comprises three core modules; financial modeling, securities valuation, and investment report writing. Dissanayake said that all the sessions received positive feedback.

“Candidates especially liked specific delivery methods used to take them through the entire equity research cycle,”.  

The program has received glowing tributes from participants. Jayamehala Haridas, Senior Manager at Union Assurance said that the program was very comprehensive and provided hands-on training in all aspects of the valuation process as well as in writing a strong investment thesis. Participants were given individual attention by a committed panel of trainers.”

Deshan Pushparajah of Capital Alliance Holdings said “the structure of the workshop was geared to empower participants at the workplace, with real life case studies and do-it-yourself analysis of such scenarios.”