Nearly 30 fund managers from Germany are in Sri Lanka on a first-of-its-kind fact-finding and familiarization visit on an invitation from Ambeon Capital PLC (ACP). The delegation, on a four-day tour, is assessing prospects for listed and private equity investments as well as greenfield foreign direct investments. This delegation to Sri Lanka includes some of the top-performing fund managers from NFS Netfonds, which has Euro 27 billion of assets under management. Yesterday, the delegation had a close meeting with Central Bank Governor Dr. Nandalal Weerasinghe, and during their stay, they will be meeting select institutions with high potential for investments.

NFS Netfonds Managing Director, Christian Hammer, told the Daily FT that German investors are looking for new frontiers of investments and Sri Lanka is a highly attractive option post the election of the NPP with a strong people’s mandate and due to the continuity of the IMF program as well as opportunities arising from the proximity to the fast-growing Indian economy. Ambeon Capital, which has interests in footwear, manufacturing porcelain, strategic investments, property, financial services, and IT and related services, has hit the headlines with aggressive acquisitions in the banking sector of 9% stakes in DFCC and Seylan Bank. Several of the fund managers in the delegation expressed excitement about the prospects in the financial sector as well as in the tourism and IT sectors of Sri Lanka.