After the end of a long-running civil war and the beginning of a fresh government, Sri Lanka's market offers both opportunities and pitfalls for investors.
The market certainly has its boosters. Dumith Fernando, executive chairman at Sri Lanka brokerage Asia Securities, highlighted the positives.
"You're talking about 5-6 percent economic growth, fairly robust earnings growth and in that context, right now the forward price-to-earnings multiples are under 10 times," he says. "That's cheaper than most of the frontier markets in Asia and emerging markets in Asia."
The market has had a tough year - the Colombo Stock Exchange All-Share index is down more than 7 percent so far this year, although it's tacked on around 5 percent so far this month.
On a one-year horizon, Fernando expects some of his top picks could garner total returns ranging from 25 percent to 60 percent. Fernando is particularly positive on the outlook for the construction sector, noting one of his top picks is Access Engineering.