About Us

Aims and objectives

ASIF was formed with the aims to promote the interests of the finance and investment community of Asia and Oceania, and to assist the development of finance and investment professionals through the interchange of ideas and provision of means to facilitate industry communication among the community.

Its specific objectives are embodied in the Federation's Constitution. 

History and developments

In November 1979, representatives from Australia, Hong Kong, Japan, Korea and an observer from Chinese Taipei met in Hong Kong and resolved to establish the Asian Securities Analysts Council (ASAC) as an international co-operative organisation for securities analysts in Asia and Oceania.

Reflecting the rapid growth of securities markets in Asia and Oceania since the ASAC’s establishment in 1979 with four Full members (societies from Australia, Hong Kong, Japan and Korea), seven other organisations subsequently joined, namely societies from Chinese Taipei, Indonesia, India, Malaysia, New Zealand, Singapore and Thailand.

At the 17th Annual General Meeting of the ASAC in Auckland, New Zealand, in October 1995, the eleven member societies of ASAC formally agreed to transform the organisation into Asian Securities Analysts Federation Incorporated (ASAF).

At the Annual General Meeting held on 30 November 1996, the Association of Securities Analysts of the Philippines was admitted as a member.

At a Special General Meeting held on 26 January 2001, the Securities Analysts Association of China was admitted as a member.

At the Annual General Meeting held on 27 October 2002, Investment Industry Development Association of Iran (now Iranian Institutional Investors Association) was admitted as a member.

At the Annual General Meeting held on 25 October 2008, the Constitution was amended and the name of the Federation was changed to Asian Securities and Investments Federation (ASIF). At the same AGM, expulsion of Indonesian Association of Investment Managers was approved.

In January 2009, CFA Singapore submitted the resignation as full member of the Federation. At the Special General Meeting held on 12 June 2009, Securities Industry Development Corporation (SIDC) from Malaysia was approved as a full member.

In January 2011, SIDC submitted the resignation as full member of the Federation. At the AGM held October 2011 in Hong Kong, IIIA Iran was expelled as a full member due to the lost contact for the past two years.At the same AGM, RIIAM Malaysia’s membership was suspended due to the non- payment of the membership fee for the past two years.

At the AGM held on 20 October 2014 SRTC, Vietnam were admitted as a full member. 

Organisational structure

Membership requirements and member societies

ASIF has two membership categories, Full and Associate membership. In principle, an organization representing the common interests of the finance and investment professionals in a country or region, can join ASIF as a Full Member; while the Associate membership is for an organisation related to the investment community in a country or region representing the common interests of the finance and investment professionals approved as associate members at a General Meeting.

ASIF has eight Full Members and two Associate Members, namely:


Full Members:

  • Financial Services Institute of Australasia (FINSIA)
  • The Securities Analysts Association of China (SAAC)
  • Securities Analysts Association, Chinese Taipei (SAA, CT)
  • Hong Kong Securities and Investment Institute (HKSI)
  • The Security Analysts Association of Japan (SAAJ)
  • The Korea Analysts Association (KAA)
  • Investment Analysts Association Thailand (IAA Thailand)
  • Securities Research and Training Center (SRTC), Vietnam

Associate Member:

  • IBS Hyderabad, IFHE

Member societies represent over 55,000 investment professionals and the aims and objectives of each of the member societies are consistent with those of the Federation.

Each member society nominates a maximum of three delegates to ASIF, delegates currently representing each society are:


Full Members

FINSIA, Australia
Christopher Whitehead
Wilson Leung

SAAC, PR China
Lin Yixiang
Wang Min

SAA, Chinese Taipei
Su Song-Chin
Liu Tian-Yet
Hung Yi-Shung

HKSI, Hong Kong
John Maguire
Ruth Kung

SAAJ, Japan
Yasuhiro Maehara
Naoko Mori

KAA, Korea
Kwha Hyun Hur
SK Kim

IAA, Thailand*
Paiboon Nalinthrangkurn
Ratchakritpong Ekrangsun
Nittaya Tiranaprakij

SRTC, Vietnam
Hoang Manh hung
Nguyen Doan Hung
Pham Thuy Lan

Associate Members

IBS Hyderabad, IFHE, India**


* The name of Thai society has recently been changed from SAA Thailand to IAA (Investment Analysts Association) Thailand.

** The name of Indian society has recently been changed from CPMR to IBS.

Meetings of members

ASIF members meet physically at least once a year at its Annual General Meeting (AGM) and as often as is required at Special General Meetings (SGMs) in writing where members’ approval is required.

Matters subject to the resolution of an AGM shall be:

  • to nominate and elect the Executive Committee members; and
  • to approve the financial statements, annual business plan and budget compiled by the Executive Committee.

Matters subject to the resolution of either an AGM or an SGM shall be:

  • to decide admission to the Federation;
  • to approve the establishment of committee and the nomination of their members;
  • to decide on other matters as deemed expressly necessary by the Executive Committee;
  • to fill any casual vacancy in the membership of the Executive Committee; and
  • to approve amendments to the Constitution.

Executive committee and officers

Chairman: Paiboon Nalinthrangkurn, IAA, Thailand 

Overseeing the long-term mission of ASIF
Overseeing external relationships with ACIIA and ICIA
Working and coordinating with the Secretariat on all major issues
Deputy Chairman: Yasuhiro Maehara, SAA, Japan
Director: Ruth Kung, HKSI Hong Kong
Director: Christopher Whitehead, FINSIA, Australia
Manager: Kazumichi Karita, SAA, Japan
Treasurer: Wilson Leung, FINSIA, Australia

Chairmanship is usually rotated among member societies, the past and present chairmen are:



1. Gavin Roberts
HKSI, Hong Kong

2. Takahiro Yamauchi
SAAJ, Japan

3. Leigh Hall
Finsia, Australia

4. Brian Gaynor
INFINZ, New Zealand

5. David Tran
HKSI, Hong Kong

6. Joon-Sang Lee
KAA, Korea

7. Maxwell Powditch
Finsia, Australia

8. Gentaro Yura
SAAJ, Japan


8. Gentaro Yura
SAAJ, Japan
1995 - 1997

9. Vicharat Vichit-Vadakan
IAA, Thailand
1997 - 1999

10. Panas Simasathien
IAA, Thailand
1999 - 2001

11. Kiyoto Hagiwara
SAAJ, Japan
2001 - 2005

12. Bill Kwok
HKSI, Hong Kong
2005 - 2009

13. Kiyoto Hagiwara
SAAJ, Japan
2009 - 2013

14. Yasuhiro Maehara
SAAJ, Japan
2013 - 2015

15. Russell Thomas
Finsia, Australia
2015 - 2016

16. Yasuhiro Maehara
SAAJ, Japan

17. Paiboon Nalinthrangkurn
IAA, Thailand
2016 - Present

Professional development programs and conferences

As part of its continuing program in assisting member societies in the development of the finance and investment professionals, ASIF encourages the holding of seminars and presentations and reciprocal participation by members.

Annual general meeting and committee meetings

Thirty two general meetings have been held to date, hosted by respective member societies:

Society & Venue
Year Held

HKSI, Hong Kong
1979, 1986, 2001

SAAJ, Japan, Tokyo
1980, 1985, 1992, 2004, 2012

KAA (formerly KCIAA), Korea, Seoul
1981, 1989, 1998, 2006

FINSIA (formerly SIA), Australia, Sydney
1982, 1993, 2013

1983, 1994, 2015

INFINZ, Wellington, Auckland
1984, 1995

SAA, Chinese Taipei, Taipei
1987, 2000, 2010

RIIAM, Malaysia, Kuala Lumpur
1988, 1999

IAA, Thailand, Bangkok
1990, 1997

IAIM, Indonesia, Jakarta

IBS Hyderabad, IFHE, India, New Delhi
1996, 2007

SAAC, PR China, Beijing




Members regional conferences, seminars and workshops

Members hold their education and training seminars and workshops either on their own or jointly with other organisations in the industry. Each society has its own unique program, for more details, please see the related sections of each society.