FMAP’s 10th annual convention highlights ‘Investing in the New Era’
THE FUND Managers’ Association of the Philippines (FMAP) held its 10th Annual Convention last March 10 to 12 in the sunny Lind Hotel, Boracay. The dynamic three-day event, led by FMAP President Deanno J. Basas — alongside the members of the Board of Trustees and the Board of Senior Advisers, gathered over a hundred investment professionals from member and partner institutions. Inspired by the ongoing changes in the Industry, the theme for this year was appropriately called “Investing in the New Era.”
The event officially kicked off with FMAP President Deanno J. Basas’ opening remarks, as he provided updates on the Collective Investment Schemes Law, the Institutional Investors’ Corporate Governance Award 2016, the Bond Index, and updates on the BSP Circulars.
According to Mr. Basas, with the FMAP surviving and thriving in the past 20 years despite going through financial crises, FMAP’s growing and dynamic membership will ensure sustainability and relevance for years to come. Given that, Mr. Basas encouraged the growth of membership from the current 298 members from 39 institutions.
Immediately following Mr. Basas’ opening remarks, Kedarnath Udiyavar, Intellectual Design’s president and business head, spoke about the digitization of asset management — in line with the Convention’s theme.
According to Mr. Udiyavar, Global Markets are undergoing tremendous change due to constantly rising expectations of stake-holders, disruptive digitization and increasing competition. However, in an age where markets are looking to go totally digital, Mr. Udiyavar warned against disruptive technology.
Mr. Udiyavar then gave the crowd a bird’s eye view of the Indian mutual fund industry, giving a snapshot of the mutual fund space, types of mutual funds available, and the regulatory safeguards in place in India — something he noted may spill over to other emerging markets such as the Philippines.
After an eventful opening dinner, delegates packed the Lind Hotel Boracay’s Ballroom on a bright Saturday morning. All eyes were on stage, as Mr. Marvin Fausto, member of the Board of Trustees, introduced the Convention’s keynote speaker.
Congressman Arthur C. Yap of the third congressional district of Bohol, equipped with over a decade’s worth of public service experience, spoke about investing in the new era. With his broad experience in public service, with particular emphasis on agriculture, he encouraged FMAP members to help build a financial infrastructure for the 40% of Filipinos below the poverty line.
With a young population and a bright future ahead, Mr. Yap noted that there is a need to sustain the Philippines’ stellar performance vis-à-vis the Country’s ASEAN peers by creating a financial ecosystem that will include the agricultural sector of the Philippines.
To Mr. Yap, the objective is clear — that no sector would take advantage of each other. As such, there is a need to create a regulatory framework that would breed inclusive development for all sectors.
Following this, he reiterated his view that given the changes in the Philippine economy, there is a need to be prudent in developing further the economy by utilizing and improving existing services before deploying new capital to build when existing capacity is available. And this is where he hopes the FMAP will participate in — to help and do its part in building the nation.
Over a hundred investment professionals came and were not disappointed, as the audience remained engaged until Mr. Yap’s very last word. The crowd then cheered, as Cong. Yap was awarded on stage by FMAP President Deanno J. Basas and members of the Board of Trustees.