IAPM Boss, Olashore, Advisers on Stock Market Investment

Investors who are still being discouraged from the capital market because of its current bearish nature and uncertainty have been assured that the market would recover and deliver good returns.

The President, Association of Investment Advisers and Portfolio Managers (IAPM), Prince Abimbola Olashore, gave the assurance at a press briefing on the association’s 2018 forum slated for November 14 in Lagos.

Olashore said the stock market will remain for a long time, explaining that it is the nature of stock markets to have cycles of boom and bust.

“The stock market will remain for a long time. It will come back but the question is that when it comes back what kind of environment our investors will come into. The IAPM is now positioning on the area of capacity building and advocacy. On the other hand, the Corporate and Individual Investment Advisers (CIIA), which is an affiliate of IAPM, is working on areas of ethics and professional conduct of members. We are positioning ourselves, trying to ensure that when the market comes back and investors return, they meet a structure that will engender confidence and when next there is a downturn, it won’t be an issue of the players being unprofessional,” he said.

The IAPM boss noted that not much education was going on the past and people assumed and forgot that capital market was not for short term investors, saying that people should realise that the market is for long term investors.

“We are hoping that going forward, it will be a different landscape and hopefully the IAPM and CIIA will have big roles to play. One from the CIIA looking after the operators and ensure that the standards which they are operating are higher and they will be held accountable for their actions and we at IAPM ensure that more education and capacity building are done,” he said. Speaking on the forum, he said the theme for this year is: The Future of Investment Advisory Services in Nigeria.”

Olashore said that the guest speaker will be Managing Director of Chapelhill Denham Group Limited and Chairman of Lafarge Africa Plc, Mr. Mobolaji Balogun.

“Attendees are expected from various sectors of the financial economy with key functionaries such as the acting Director General of Securities and Exchange Commission (SEC), Ms. Mary Uduk, who is the special guest of honour. Chairman, Continental Reinsurance Plc and Alexander Forbes Consulting Actuaries Nigeria Limited, Chaief Ajiboal Ogunsola will be the chairman of the occasion,” he said.