The fourth India Investment Conference:The Road Ahead for India and Emerging Economies opened in Mumbai on Friday with a call to safeguard investors’ trust as a pillar of economic growth, at a time when global confidence in the ability of the financial services industry to do what’s right for investors remains low.
“Finance can be a strong force for promoting a sustainable economic future for India and other emerging economies. But first, the finance industry must build and preserve investors’ trust in order to mobilize the capital required for growth,” says Paul Smith, CFA, managing director for Asia Pacific of CFA Institute.
The conference organised by CFA Institute, the global association of investment professionals; together with the Indian Association of Investment Professionals (IAIP), and the Indian School of Business, also addressed issues impacting India today and in the future such as the effects on the rupee of the tapering of U.S. quantitative easing, the global energy landscape, and the challenge of sustaining growth.
Ahead of the conference, CFA Institute members in India showed great optimism in the country’s economic prospects this year. In the annual Global Market Sentiment Survey, over 60 percent of respondents in India said the local economy will expand this year.
However, they also voiced concern about ethical lapses in the industry, with over 60 percent identifying lack of ethical culture as the main factor causing the current lack of trust in the finance industry.
“We are extremely pleased with the productive exploration of insights and perspectives in this fourth edition of the India Investment Conference. We at IAIP believe that the India story is still a strong one even in the uncertain global environment,” says Jayesh Gandhi, CFA, president of IAIP— the CFA Institute member society in India. “Along with CFA Institute, we look forward to building upon the innovative concepts being developed as part of the Future of Finance initiative. We believe that these efforts will go a long way in aiding the development of financial markets in India.”
The CFA Institute Future of Finance project is a global effort to shape a trustworthy, forward-thinking financial industry that better serves society.This mission has been underscored by the results of the CFA Institute/Edelman Trust Study last year: Only half of retail and institutional investors surveyed worldwide said they trusted the financial services industry to do what is right. At the conference, Frederic Lebel, CFA, co-CEO and chief investment officer of OFI MGA, discussed ways to restore trust in the industry and raise ethical standards in firms.
The diverse lineup of speakers at the conference also included Richard Duncan, chief economist of Blackhorse Asset Management; Fereidun Fesharaki, chairman at FGE, a consulting group focused on oil and gas markets; and Avinash Persaud, chairman, Intelligence Capital Ltd.
To wrap up the conference, Sunil Singhania, CFA, chief investment officer of Reliance MF and member of the board of governors of CFA Institute, moderated an executive panel discussion on India’s investment outlook. The panel composed of Samir Arora, founder and fund manager of Helios Capital; Manish Chokhani, managing director and CEO of Alliance Holdings Pvt. Ltd; Abhay Laijawala, head of India equities research of Deutsche Bank; and Jayesh Mehta, managing director and country treasurer of Bank of America N.A. (India).
About CFA Institute
CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organisation is a champion for ethical behaviour in investment markets and a respected source of knowledge in the global financial community. The end goal: to create an environment where investors’ interests come first, markets function at their best, and economies grow. CFA Institute has more than 118,000 members in 140 countries and territories, including 110,000 CFA charterholders, and 140 member societies. For more information, visit www.cfainstitute.org.
About Indian Association of Investment Professionals (IAIP)
IAIP is an association of investment professionals in India, and a member society of CFA Institute. Consisting of portfolio managers, security analysts, investment advisors, and other financial professionals, we promote ethical and professional standards within the investment industry facilitate the exchange of information and opinions among people within the local investment community and beyond, and work to further the public's understanding of the CFA designation and investment industry. As one of 140 CFA Institute member societies, IAIP connects members to a global network of investment professionals. For more information, visit www.cfasociety.org/india.
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