August 6, 2019
CFA Society India, in collaboration with CFA Institute, the global association of investment professionals, hosted its 4th India Wealth Management Conference in Mumbai. The theme of this year’s conference was ‘Wealth Management and the Leap Forward’. It brought together global and Indian experts to share their insights on best practices and frameworks on setting up a family office with philanthropic goals, life planning, manager selection, and credit markets.
Uday Kotak, MD & CEO, Kotak Mahindra Bank Ltd., in conversation with Navneet Munot, CFA, Chairman, CFA Society India and CIO, SBI Funds Management Pvt. Ltd.
The conference, attended by over 400 wealth management professionals, provided an excellent opportunity to delegates to learn from and network with some of the best minds in the wealth management industry and fellow CFA® charterholders.
Dr. Duvvuri Subbarao, Former Governor, Reserve Bank of India, in discussion with Samiran Chakraborty, Chief Economist, India, Citigroup, on the challenges and dilemmas in central banking
“Finance is for the ultimate good of society. Wealth management professionals, many of whom are CFA® charterholders, have an important role to play here by setting high standards and demonstrating the highest level of professionalism while managing the wealth of their clients,” said Navneet Munot, CFA, chairman, CFA Society India and CIO, SBI Funds Management Pvt. Ltd.
Speaking on the challenges and dilemmas in central banking, Dr. Duvvuri Subbarao, Former Governor, Reserve Bank of India said, “The markets need to understand the governor, his nuances, and that they need to give him time for his decisions. Central banks worry a lot about the credibility of their actions but during crisis time, one must learn to relax and take practical decisions.”
Known for his knowledge of the banking industry, Uday Kotak, Founder, MD and CEO, Kotak Mahindra Bank advised the current generation of asset managers to give value to the customer, learn everything about digital, and get more proactive when it comes to wealth management. According to him, “Directors on a company’s board need to ask questions, no matter how silly they seem. Solutions come from the pursuit of these questions. One of the many important pillars of governance is directors, not just one but the entire body of directors.”
Talking about new-age investors, Saurabh Mukherjea, CFA, Founder, Marcellus Investment Managers said, “What’s noticeable about tech billionaires in India is that they run their investments the same way they run family businesses, which is very good. In India, we have two misalignments, the intermediaries and the investors, and miscommunication between both can have consequences.”
On setting up a family office with philanthropic goals, Lakshminarayana Kollengode, Chief Endowment Officer, Azim Premji Foundation said, “Dealing with volatility will always be an issue you will have to face in the market. An important question to ask is: do you understand the style of your manager, and are they complementary to the rest of the portfolio?” According to him, philanthropic endowments will increase in India over the next few years.
The day-long 4th India Wealth Management Conference stellar line-up of global and Indian speakers including Dr. Duvvuri Subbarao, former governor, Reserve Bank of India; Uday Kotak, founder, MD, and CEO, Kotak Mahindra Bank; George Kinder, president, Kinder Institute of Life Planning; Geeta Kapadia, Senior Investment Strategist, Yale New Haven Health System; Lakshminarayana Kollengode, Chief Endowment Officer, Azim Premji Foundation; Samiran Chakraborty, Chief Economist, India, Citigroup, among others.
About CFA Society India
CFA Society India (previously Indian Association of Investment Professionals) was established in April 2005 as an association of local investment professionals consisting of portfolio managers, security analysts, investment advisors and other financial professionals. As one of the over 150 CFA Institute member societies, CFA Society India connects local members to a global network of investment professionals.
For more information, please visit www.cfasociety.org/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 of ethical behaviour 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 161,000 CFA® charterholders worldwide in 163 countries and regions. CFA Institute has eight offices worldwide and there are 151-member societies.