4
5 CFAP pushes for higher investment standards According to Mark L. Yu, President of the CFAP, it is important to be assured that investment professionals have the competence and ethics to handle investors’ funds. “You wouldn’t want to leave your nest egg and hard-earned money to someone who’s not qualified,” he says in the 02 September 2007 issue of The Manila Times. BSP Deputy Governor Nestor Espenilla, Jr. said that “there are Filipino investors with enough sophistication to deal in complicated (financial) products, but more needs to be done to improve financial literacy,” reports the 15 August 2007 issue of Manila Bulletin. “We are heading towards that direction – adapting international best practices to make our financial system globally competitive,” he also says in the 08 August 2007 issue of Business World. With the new partnership with BSP, PSE, and SEC, CFAP aims to help in doing just that. The Philippine Daily Inquirer (21 October 2007 issue) featured the 9 th Inter-Collegiate Finance Competition (ICFC), which was held recently in Bangko Sentral ng Pilipinas. ICFC, the country’s most prestigious annual academic competition on finance where more than 70 universities and colleges from all over the Philippines participate, was organized by the Financial Executives Institute of the Philippines (FINEX) in partnership with CFAP. CFAP prepared this year’s competition questions, which were based on the Chartered Financial Analyst (CFA) Level 1 body of knowledge with topics ranging from Corporate Finance to Economics. Ateneo de Manila University (ADMU) emerged as champion setting a new record for the highest score (86%) in the finals, ADMU team beat the five-time and defending champion University of the Philippines- Diliman (2 nd place), first-time foreign school participant Singapore Management University (3 rd place), and 18 college-and-university finalists from all over the Philippines. The ADMU team – comprised of Andrea Isabel S. Co, Clark Jefferson N. Cue, Jaime Antonio Rico M. Cuenco, Jeremy G. Go, and Alfonso Luis D. Maputol coached by Darwin D. Yu – received Php 1.25M worth of scholarship from the Asian Institute of Management, Php100,000.00 in cash prize, HP calculators, trophies, medals, and a complimentary 3 days and 2 nights stay in Boracay. Prestigious finance tilt highlights CFA NEWS To further raise the standards of the investment profession in the Philippines to be at par with global standards, CFAP, the local affiliate of CFA Institute, is working hand in hand with Bangko Sentral ng Pilipinas (BSP), Philippine Stock Exchange (PSE), and the Securities and Exchange Commission (SEC). The 08 August 2007 issue of Business World reports on the scholarship program CFAP has recently signed with BSP, PSE, and SEC. “Under the deal, members of the BSP, PSE, and SEC are entitled to three scholarships per fiscal year of the CFA Institute starting 01 September 2007.” The CFA Institute is dedicated to the highest standards of ethics, education, and professional excellence in the investment profession. The CFA designation is given to individuals who have passed a series of three exams and has had at least four years of professional work experience. cfanewsletter1.indd 5 1/24/2008 3:29:38 PM

5 NEWS CFAP pushes for higher investment … Night Details/portfolio...CFAP pushes for higher investment standards According to Mark L. Yu, President of the CFAP, it is important to

Embed Size (px)

Citation preview

5

CFAP pushes for higher investment standards

According to Mark L. Yu, President of the CFAP, it is important to be assured that investment professionals have the competence and ethics to handle investors’ funds. “You wouldn’t want to leave your nest egg and hard-earned money to someone who’s not qualified,” he says in the 02 September 2007 issue of The Manila Times.

BSP Deputy Governor Nestor Espenilla, Jr. said that “there are Filipino investors with enough sophistication to deal in complicated (financial) products, but

more needs to be done to improve financial literacy,” reports the 15 August 2007 issue of Manila Bulletin.

“We are heading towards that direction – adapting international best practices to make our financial system globally competitive,” he also says in the 08 August 2007 issue of Business World. With the new partnership with BSP, PSE, and SEC, CFAP aims to help in doing just that.

The Philippine Daily Inquirer (21 October 2007 issue) featured the 9th Inter-Collegiate Finance Competition (ICFC), which was held recently in Bangko Sentral ng Pilipinas.

ICFC, the country’s most prestigious annual academic competition on finance where more than 70 universities and colleges from all over the Philippines participate, was organized by the Financial Executives Institute of the Philippines (FINEX) in partnership with CFAP.

CFAP prepared this year’s competition questions, which were based on the Chartered Financial Analyst (CFA) Level 1 body of knowledge with topics ranging from Corporate Finance to Economics.

Ateneo de Manila University (ADMU) emerged as champion setting a new record for the highest score (86%) in the finals, ADMU team beat the five-time and defending champion University of the Philippines-Diliman (2nd place), first-time foreign school participant Singapore Management University (3rd place), and 18 college-and-university finalists from all over the Philippines.

The ADMU team – comprised of Andrea Isabel S. Co, Clark Jefferson N. Cue, Jaime Antonio Rico M. Cuenco, Jeremy G. Go, and Alfonso Luis D. Maputol coached by Darwin D. Yu – received Php 1.25M worth of scholarship from the Asian Institute of Management, Php100,000.00 in cash prize, HP calculators, trophies, medals, and a complimentary 3 days and 2 nights stay in Boracay.

Prestigious finance tilt highlights CFA

NEWS

To further raise the standards of the investment profession in the Philippines to be at par with global standards, CFAP, the local affiliate of CFA Institute, is working hand in hand with Bangko Sentral ng Pilipinas (BSP), Philippine Stock Exchange (PSE), and the Securities and Exchange Commission (SEC).

The 08 August 2007 issue of Business World reports on the scholarship program CFAP has recently signed with BSP, PSE, and SEC. “Under the deal, members of the BSP, PSE, and SEC are entitled to three scholarships per fiscal year of the CFA Institute starting 01 September 2007.”

The CFA Institute is dedicated to the highest standards of ethics, education, and professional excellence in the investment profession. The CFA designation is given to individuals who have passed a series of three exams and has had at least four years of professional work experience.

cfanewsletter1.indd 5 1/24/2008 3:29:38 PM

6 Portfolio

Congratulations

to the new CFA charterholders in the Philippines!

Congratulations

to the new CFA charterholders in the Philippines! We share your pride in achieving a unique designation that is widely recognized and accepted by employers, regulators, and investors worldwide. The Financial Times referred to it as “a second passport, an international gold standard,” and The Economist referred to it as “a global currency.”

The CFA Program was established in the U.S. in 1962. About 284 candidates sat for the first CFA exam and 268 charters were awarded in 1963. From that modest beginning, the Program has evolved and grown substantially. This past fiscal year we had 140,000 worldwide registrations, with 52,000 registrations from the Asia-Pacific region, representing a 34 percent growth over the previous year and about 38 percent of the world’s total.

But the CFA Program goes far beyond the mere statistics. Its relevance and substance is what has fueled these impressive numbers. It is grounded in a periodic global practice analysis in which practicing investment professionals determine what topics should be covered and in what proportions. It is delivered by a curriculum that is designed and implemented by practicing investment professionals, and it is tested by examinations that are created by practicing investment professionals. It is timely; new curriculum and exams are prepared every year. It is truly global; all candidates everywhere study the same curriculum and take the same exams. It is rigorous; not everybody or just anybody can do this. Achieving it means that one has not only passed the industry’s most rigorous examinations, but also gained at least

four years of work experience in an investment decision making role, and has committed to abide by the CFA Institute Code of Ethics and Standards of Professional Conduct, a commitment all charterholders must reaffirm each year, a commitment to always put investor interests first.

In many ways beyond the CFA Program, CFA Institute is a relevant, energetic, committed, and growing presence, all around the globe. We are providing leadership for the investment profession in ways that no other organization in the world can match, as a forceful voice on issues of fairness, efficiency, and investor protection in global capital markets through the CFA Institute Centre for Financial Market Integrity; in performance standards through the Global Investment Performance Standards (GIPSâ); and in lifelong learning and continuing professional development – most notably through the acclaimed Financial Analysts Journal. Currently, we have over 96,000 members, including 83,000 CFA charterholders in 133 countries and territories. Our reach is also extended by 135 affiliated local societies in 56 countries and territories, including 15 member societies in the Asia Pacific region. Locally the CFA Society of the Philippines is an active force for educational excellence and rigorous ethical standards in the Philippines’ financial markets.

On behalf of CFA Institute and your colleagues all around the world, congratulations once again on your dedication and achievement. We look forward to working with you in the future, and I know the CFA Society of the Philippines welcomes your energy and involvement in their local activities and initiatives.

Jan R. Squires, CFA Managing DirectorAsia Pacific Operations, CFA Institute

MESSAGES

cfanewsletter1.indd 6 1/24/2008 3:29:40 PM

7

Mark L. Yu, CFAPresidentCFA Philippines

Since returning back from North America 5 years ago, I have ventured to better understand how we Filipinos can improve our standard of living. Part of that journey was to understand the intrinsic qualities Filipinos have that can serve as a fulcrum for global ascendancy. One thing is for sure, there isn’t a lack of ideas among Filipinos. However, they may lack the fundamental skills and the critical thinking to convert these ideas to profitable undertakings.

This presents an enormous opportunity for our country as value can be immediately derived without much need for new innovation but rather more easily through basic education. As such the CFA Society of the Philippines has set as its vision to be the thought leader in the local investment industry. Our reason for existence is to help develop the capital market and improve the level of financial market integrity.

The Philippines has a long way to go to regain its once glorious stature in the region. Globalization has brought its own merits and perils. Being a social capitalist, I am naturally inclined to look to benefit on the opportunities globalization brings. One such area with plentiful opportunities is Finance and one such tool to help us profit from this revolution is the CFA Program. I strongly believe in the branding and leveling power of the CFA designation. “Whereas there are tens of thousands of finance degrees available around the world, ranging from the excellent to the worthless, there is only one CFA…” (Source: The Economist, 2005)

CFA Philippines is here to help you take advantage of this opportunity and equip your company with the wherewithal to survive the continuously evolving landscape of our global economy. Happy Reading…

Do Philippine companies have what it takes to be a global brand? Can Filipino investment professionals compete for high-paying jobs globally? More importantly, what does it take to compete internationally?

Philippines… Inc.!?

cfanewsletter1.indd 7 1/24/2008 3:29:47 PM

8 Portfolio

CONGRATULATIONSNEW CFA CHARTERHOLDERS

ALPHEW T. CHENG, CFAMARIA CORAZON A. DELA CRUZ, CFA

MARIAN C. GIMENO, CFAIRENE B. GRIPALDO, CFA

DOJI F. LUBERAS, CFA MARY JADE T. ROXAS-DIVINAGRACIA, CFA

BERTRAM RODRIGO F. SARMAGO, CFAHANSLEY HEINRYCH C. SEE, CFA

Level III Passers7

Liza A. ChanMarco Ronald G. Co

Alvin Aureo T. EndayaPranup Karmacharya

Carl Stanley T. SyMarie Stephanie C. Tan

Level II Passers

Rose Christine D. BadilloJoanna Y. Bocboc

Luz Pilar D. GlinogaIris B. GripaldoGavin C. LeeMarvin S. Lim

Patrick Philip T. LimPatrick Joseph G. Manaloto

George S. Ongkeko Jr.Nerissa D. Pabustan

Angel Marie L. PacisTristan A. Taghoy

Daniel A. Wiedmer

Level I Passers

Reynold A. AfableJuan E. Andaya

Ma. Andrea D. AntoninoJuan Carlos G. Aquino

Cristina P. ArceoJohn B. Balce

Joel N. BangalanKumar Binitesh

Xavier John V. BuensalidoSharon Jane L. Cardeno

Fritz Gerard O. ChanMadeliene Paula U. ChanGeorgina Grace Chingkoe

Irene M. Chua

Celine L. CruzJonathan P. David

Maria Marisol A. De Villa-GoKristoffer Cris B. Enriquez

Elaine Marie P. FajardoNatasha Iza K. Fernandez

Jeffrey A. HernandezAntonio Ma. M. Ingco

Jimmy JagwaniGlenn Conrad N. Jao

Juan Miguel J. JavellanaRichard G. Laneda

Joseph Michael L. LehCandice Emily L. LehGeoffrey Brian G. LimRyan Norman A. Lim

Ma. Henessa Zurish L. LimJon Carlo C. Lim

Christopher R. MalaluanSundeep Malpani

Ma. Belinda S. MandigmaCarl Vincent A. Melendres

Karen Khristine N. NatividadCarlo Tinotte S. Nonato

Katrina D. PabustanAngela G. Panganiban

Junghoon ParkAllan P. Quijano

Cerre Klyne M. ResullarJan Briace S. SantosKimberly Diane T. TanBrian Benedict O. Tee

Ma. Teresa Rosario M. TemploRizaldy Royce G. TeoRitchie Ryan G. Teo

Sheryl C. UyDyanne L. Ventura

Maria Lilibeth L. VinluanBenjamin Caleb T. Young

Milkos Patrick B. Zalameda

The Chartered Financial Analyst (CFA) credential, administered by the CFA Institute, is the global sign of investment knowledge. Only individuals who have mastered three rigorous and intensive exams and gained at least four years hands-on experience earn the right to use the CFA designation.

Around the world and close to home, you’ll find CFA Charterholders working at leading investment firms. So if you’re looking for an investment advisor who offers objective insights, real world experience and a commitment to putting your interests first – trust a CFA Charterholder.

We salute these professionals who have literally been put to the test.

To learn more about the CFA Program, please visit www.cfainstitute.org For more information about CFA Philippines, please visit www.cfaphilippines.org.

Setting the highest standards of ethics, education, and professional excellence in the investment industry

cfanewsletter1.indd 8 1/24/2008 3:29:48 PM