Investment meet calls for focus on ethics
The third India Investment Conference, jointly organized by CFA Institute, the global association of investment professionals, Indian Association of Investment Professionals (IAIP) and the National Institute of Securities Markets (NISM), concluded with a call for action to restore trust and promote best practices in the financial services industry in India.
"Our members in India are optimistic when it comes to the local economy in 2013. At the same time, they point to the low level of public confidence in finance and to the need for financial firms to improve their ethical codes, as high priority items this year," John Rogers, CFA, President and CEO, CFA Institute, told around 300 delegates at the conference in Mumbai.
"We must take proactive measures to regain the public's confidence and restore trust," said Rogers.
Keynote speaker Prashant Saran, Whole Time Member of the Securities and Exchange Board of India, stressed the importance of market transparency and integrity in successfully navigating the new financial landscape.
"Currently, IAIP has around 1,000 members in India. We expect the strong growth of our members and candidates who strive for the best practices and professional education in this vibrant, emerging economy," said Sunil Singhania, CFA, President, Indian Association of Investment Professionals.
"Together with CFA Institute, we will continue to actively promote ethical behavior and market transparency in India, hence, contribute to the sustainable growth of the financial services industry," said Singhania.
Other prominent speakers at the India Investment Conference including Roger Urwin, Global Head of Investment Content, Towers Watson, and Satyajit Das, Author/ Consultant, S Das and Associates Pty Ltd.. Prof. Aswath Damodaran, Professor of Finance, Leonard N. Stern School of Business, New York University, undertook a two-hour session on investment philosophies.
During the executive panel discussion on India's investment outlook, which was moderated by Prabhat Awasthi, Managing Director and Head of India Equities at Nomura, Raamdeo Agrawal, Jt. Managing Director, Motilal Oswal Financial Services Limited; Ridham Desai, Managing Director, Morgan Stanley; Prashant Jain, Executive Director and CIO, HDFC Asset Management; and Sunil Singhania, CFA, Head of Equity Investments, Reliance Mutual Fund, provided insightful perspectives of the Indian economy, macro and micro fundamentals, and the ways going forward.