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16 Apr 2024, Edition - 3199, Tuesday

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Indian Investment Industry Poised for Growth; Competition Set to Intensify

Covai Post Network


CFA Institute, the global association of investment management professionals, is enthusiastic about prospects for the investment industry in India. “The Indian investment industry is going to see a lot of growth in the coming years, and companies in the ecosystem will have to compete hard to get their share of this growth,” said Margaret Franklin, CFA, President and CEO, CFA Institute during a recent visit to India.


Margaret Franklin, CFA, President & CEO, CFA Institute speaking at CFA Charter Felicitation Ceremony in Mumbai


Marg Franklin, the first female President and CEO of CFA Institute, who assumed her role in September 2019, flagged off ‘Jan Nivesh Abhiyaan’, a 15-day Cyclothon organised by CFA Society India to promote financial literacy across India, and to highlight the importance of educating investors about financial products.


In a statement, Marg Franklin said, “I believe the investment industry must meet the needs of our end customers. The industry has rightly been criticized for mis-selling and putting short-term profits ahead of customers’ interests. We need to pay more attention to professional competence and ethical behavior. If we do this in every market in which we operate, we will gain investors’ trust and contribute to their long-term financial well-being, as well as to fair and transparent markets.”


The fundamental concerns of investors everywhere are the same, whether they are in emerging markets or developed markets. They want to make sure that their savings are being taken care of properly. They want to provide for their old age, their children’s education and for emergencies. Ideally, the industry’s concerns should be the same as the investors’ concerns,” she added.


Speaking about ‘Jan Nivesh Abhiyaan’, Rajendra Kalur, Director, CFA Society India, said, “One of the key reasons for embarking on the mission is the growing realization that despite the rise in GDP and the high individual savings rate the level of financial literacy in India is amongst the lowest in the world. This creates a great degree of dissonance as the nation embarks on an ambitious plan to become a $5 trillion economy. As the economy grows larger, it also becomes more complex and hence the urgent need to not only increase penetration of banking and other financial products but also raise financial awareness levels. While SEBI has mandated that a certain portion of the fund TER be allocated for investor education, there also exists a need for greater financial education among segments who are currently not Mutual Fund investors or are out of the pale of regulated products, since a lot of the financial mistakes occur in this segment.”


About CFA Institute

CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion of ethical behavior in investment markets and a respected source of knowledge in the global financial community. Our aim is to create an environment where investors’ interests come first, markets function at their best, and economies grow. There are more than 168,000 CFA® charterholders worldwide in 164 markets. CFA Institute has 10 offices worldwide and there are 158 member societies.


For more information, please visit www.cfainstitute.org or follow us on Twitter at @CFAInstitute and on Facebook.com/CFAInstitute.

Source: Newsvior

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