Investment industry becomes ‘more trusted and value-focused’ says CFA boss
The investment industry is flourishing as it becomes more trusted and value-focused, according to Paul Smith, President and CEO of the Institute of Chartered Financial Analysts.
In his speech at the 14th Annual CFA Forecasting Event of the CFA Society Cyprus, Smith spoke about the future of finance and the new investment landscape and said that “at the same time, alternative providers and technology platforms are filling the gap created by any inefficiencies of the capital markets.”
In an address by President Nicos Anastasiades, read out by Costas Iacovou, Deputy Permanent Secretary of the Deputy Ministry of Shipping, the president said that the Cyprus economy had come a long way in dealing with the crisis, and the outlook was very positive. “We need to continue with the same momentum and the same devotion and determination”.
Nicolas Scott Smith, Director of Restructuring and Recoveries, Bank of Cyprus, spoke of the NPL trends and solutions in Europe as regards the non-performing loans (NPLs) as well as in Cyprus. “If people believe in your collateral balance, if they believe in your real estate market, if they believe in your laws and if they believe you have a credible servicing capacity in order to deliver the kind of returns for these assets; so for me, that’s key”, he said.
Daniel Murray, CFA, Deputy CIO and Global Head of Research of EFG Asset Management, spoke on the Global Economic and Investment Outlook, forecasting that we are on late cycle but not yet end cycle and that the next US recession could be some time away.
The President of CFA Society Cyprus, Panayiotis Chrysostomou, referred to the Chartered Financial Analyst (CFA) qualification, saying that it is the most respected and recognised professional qualification in the world of finance and investments. “The Annual Forecasting Event organised by the CFA Society of Cyprus has become a tradition as most financial services professionals of Cyprus attend the event year after year and exchange views on the regional and global economies”, he added.
During his visit to Cyprus, Paul Smith had meetings with the Cyprus Securities and Exchange Commission, the Chairman of the Cyprus Investment Funds Association (CIFA), the chairman of the House Finance Committee and other stakeholders.
The CFA Society Cyprus was currently numbers 124 members.
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