Newsletter February 2015

Secretariat News

ASIF Informal Executive Committee

All four Members of ASIF Executive Committee gathered in Hong Kong on the occasion of a Business Ethics Forum hosted by HKSI on 22 January 2015. Taking this opportunity, an informal Executive Committee meeting was held on Friday 23 January at the main office of HKSI. Dr. Yasuhiro Maehara, Chairman, Mr. Craig Lindsay, Deputy Chairman, Mr. Russell Thomas, and Dr. Lin Yixiang were all present. They discussed the agenda items to be discussed at the ASIF interim ExComm meeting to be held on Saturday 25 April 2015 in Tokyo. They also tentatively agreed to hold the ASIF 2015 Conference on Thursday 22 October followed by ASIF Annual General Meeting on Friday 23 October in Singapore. Details of these meeting will be communicated to the ASIF members.

Based on the discussion at the informal ExComm meeting, a survey on the value proposition was sent to all ASIF member societies so that the results will be the basis for the further discussion at the interim ExComm meeting in April.

Financial Services Institute of Australasia

The development of financial services in China report

The era of supplying vast amounts of resources to China has proved unsustainable, and highlighted the need to now move to a different kind of relationship, one where the core offer will be in goods and services. To take up this new opportunity, Australian governments and companies will need to reconceptualise their understanding of what China means to them, so that Australia's economic and political relationship with China can achieve its potential. This paper makes proposals about how that might happen.

Download the paper or learn more about Finsia's research partnerships

2014 Scholarship winners announced

Congratulations to the 2014 Hugh D.T. Williamson Scholarship winners Jacki Chorazy SA Fin and Tim Carleton SA Fin. Finsia’s prestigious annual scholarship is awarded to an outstanding individual who can demonstrate leadership, professional qualifications, community and social responsibility as well as a contribution to the financial services industry.

Finsia’s prestigious annual scholarship is awarded to an outstanding individual who can demonstrate leadership, professional qualifications, community and social responsibility as well as a contribution to the financial services industry. An independent panel of industry leaders and senior Finsia members will assess the applications and award the scholarship.Applicants must explain in 1,500 words how they meet the criteria for the scholarship, as well as explaining how they will contribute to the future of financial services industry and the wider community.

Applications open mid 2015. Find more information about the Hugh D.T. Williamson Scholarship

Hong Kong Securities and Investment Institute

Business Ethics Forum 2015: HKSI Institute To Champion Business Ethics Awareness in the Financial Industry

HKSI Business Ethics Forum 2015The Hong Kong Securities and Investment Institute (HKSI Institute) hosted its 8th Business Ethics Forum (BEF) during the International Financial Week in Hong Kong Convention and Exhibition Centre on 22 January 2015. The BEF, first launched in 2006, advocates ethical behaviour and best practices specifically for the financial industry. The Hon John Tsang, Financial Secretary of the Government of the Hong Kong SAR gave the opening remarks at the Forum, and addressed to over 150 industry leaders and senior executives from local and international markets, reaffirming the importance of ethics in business.

The signature event examined and promoted business ethics and integrity in a holistic approach, covering regulatory and enforcement standpoint, regional practices and conventions, as well as from the corporate and professional perspectives. The BEF provided a valuable platform to get connected with fellow practitioners and gained access to achieved members of the professional community. More than 20 distinguished speakers and panellists shared their personal experiences and distinctive views on the topic. ASIF Exco Members Dr Lin Yixiang, Dr Yasuhiro Maehara and Mr Russell Thomas, exchanged views on a panel chaired by Dr Bill Kwok on the topic “Sharing Regional Perspectives on Developing Ethical Culture in Financial Services Business”. The discussion was very fruitful with panellists providing invaluable insights on the practices in different jurisdictions.

IAA Thailand

IAA Awards for Listed Companies 2013

IAA-Awards-for-Listed-Companies-2013On 28 May 2014, IAA arranged a presentation of “IAA Awards for Listed Companies 2013”.

This was to honor the Chief Executive Officers, Chief Financial Officers, Investor Relations Directors of Listed Companies for their capabilities and quality of information disclosure. They were categorized into 8 sectors: Agro & Food Industry, Banking, Property & Construction, Resources, Services, Technology, Industrials and Market for Alternative Investment.

IAA Awards for Analysts 2013

IAA-Awards-for-Analysts-2013On 2 June 2014, the presentation ceremony of the 7th IAA Award for Analysts 2013 was organized by IAA at SET Building to congratulate the top analysts and outstanding research team.

The aim of the event was to encourage analysts to produce top quality research, to recognize best analysts, to create public awareness on the significance and contribution of securities analysts and research reports to the capital market and to promote accountability and ethics of analysts.

Education program specially designed for analysts

IAA and Thailand Securities Institute (TSI) – the Stock Exchange of Thailand (SET) arranged 3-joint projects to develop analysts as follows:

  1. "Research Presentation for Pro-active Analyst Workshop"
    On 18, 22 and 24 July 2014, we arranged a project to develop junior analysts on "Research Presentation for Pro-active Analyst Workshop". This project was to strengthen the ability and communication skills of junior analysts.
  2. “Sector Outlook and Update”
    The project aimed to provide analysts with knowledge and information directly from executives in listed companies and analysts who had received IAA Awards about their view of the industries, included the forecast of industry trends. There were 5 industries - Property, Food, Telecommunications, Energy and Insurance.
  3. “Securities Analysis of Asian Stocks”
    The project enabled analysts to have a better understanding of securities in the Asian markets. We had the honor of Mr. Wee Siang NG, CFA - Head of Research, Maybank Kim Eng in Singapore to be a speaker on “In-depth analysis of Asian Stocks on Regional Banks” on 24 November 2014. Mr. Sachin Gupta, CFA - Managing Director-Head of Asian Telecoms & ASEAN Equity Research, Nomura Singapore was honored to present on “In-depth analysis of Asian Stocks on Regional Telecommunications” on 16 December 2014.

IAA Survey

On 13 October 2014 and 15 January 2015, our Deputy Chairwoman Mrs. Porranee Tongyen, CISA reported the results of IAA survey.

The last survey of the year 2014 on 13 October were from 22 foreign and local brokerage houses and 2 gold futures dealers. The average forecast on SET index at the end of the year was at 1,574 points. Positive factors were investment stimulus project, government's infrastructure investment projects, expansion turnover and fund flows.

The most recent survey on 15 January 2015 were from 25 foreign and local brokerage houses and 2 gold futures dealers, cut 2015’s peak to 1,728 from 1,767 in their previous forecast as the oil price slump has hit the net profit of companies in Energy & Utilities Sector. Energy sector has the biggest weight in the SET index’s calculation.

Securities Analysts Association of Japan

Upcoming 6th SAAJ International Seminar, Asset Management in Asia, April 24, Tokyo

HKSI Business Ethics Forum 2015

The Securities Analysts Association of Japan (SAAJ) will hold the 6th SAAJ International Seminar on Friday April 24, 2015, in Tokyo, entitled “Asset Management in Asia: Opportunities and Future Development”.

The seminar focuses on business management and investment strategies that will enable asset managers to be successful in Asia on a sustainable basis. Discussion will be led by forefront experts and senior executives who have insights into both global and local management.

Discounted registration fee is applicable to individual members of ASIF member societies, and SAAJ sincerely hopes to welcome as many people as possible. Also, this seminar is free of charge for CIIA holders from abroad.

Simultaneous interpretation in English and Japanese will be available.

Seminar description:

Looking at the financial industry, there is a common recognition that asset management has the highest growth potential in all geographical regions.

In particular, Asia-Pacific is expected to be a source of substantial growth for asset management companies in the coming years. The region’s key growth drivers include expanding local capital markets, aging demographics, and official support for funded retirement systems. However, Asia-Pacific is not a homogenous market for asset management services: thus, different business models should be considered for asset managers seeking to capture the region’s growth.

The 6th SAAJ International Seminar “Asset Management in Asia: Opportunities and Future Development”, April 24, 2015, in Tokyo, focuses on business management and investment strategies that will enable asset managers to be successful in Asia on a sustainable basis. Discussion will be led by forefront experts and senior executives who have insights into both global and local management.

Also, as a keynote speech, a senior official from the Bank of Japan will present the economic outlook for Asia over the medium to long term.

Seminar Topics

  • Growth opportunities for the asset management business in Asia
  • Prioritizing markets and products: how should asset managers plan to focus their resources across Asia-Pacific?
  • Institutional vs. retail: how do future product preferences compare across these two segments in the region?
  • Disruptors to watch-out for: should asset managers worry about institutional in-sourcing, and direct-to-consumer sales?
  • How do regulatory changes in respective countries affect asset management businesses in Asia?

Following the sessions, there will be a reception for a social gathering of seminar participants.

More information is available on the SAAJ event page