IFIE 2012

INVESTOR EDUCATION
STRATEGY & CASES IN TURKEY
Alparslan Budak
Assistant Secretary General
IFIE , Seoul
21 May 2012
IFIE 2012
STRATEGY
TSPAKB
2
IFIE 2012
Istanbul Financial Center Project
Committees
1
2
3
4
5
6
7
8
Markets & Instruments Committee
(Chair: Capital Markets Board)
Identified 20 Actions
One of them Investor Education
TSPAKB
40
Projects
3
IFIE 2012
Investor Education Roadmap
• In the light of the
survey conducted by
TSPAKB
Determining
the target
groups
TSPAKB
Building a wide
range of
educational
content
• For diverse needs
• Public relations activities
in coordination with the
media, academia,
chambers, unions, etc.
Publicity
Campaign
4
IFIE 2012
Target Groups
Judges,
Prosecuters,
Lawyers
Primary &
Secondary
School
Students
Market
Professionals
Current
Investors
Teachers,
Academics
University
Students
TSPAKB
Potential
Investors
Investor
Education
Campaign
Lost
Investors
5
IFIE 2012
Current and Potential Investors
Videos
Publications
Capital Markets
e-Library
Web Site
Social Media
TSPAKB
• Introductory movies about the markets,
• CDs, DVDs and other visual aids on investment
instruments.
• Training and publicity materials, brochures, booklets
about the market,
• Creating a common pool of information and data.
• Establishing an electronic library,
• Setting up an electronic research database.
• Web site for investors,
• Web-based knowledge contest,
• Web-based games etc.
• Facebook, Twitter, cell phone applications.
6
IFIE 2012
Current and Potential Investors
Face to face
meetings
Training Programs
• Organizing public meetings and seminars in various
cities.
• On-site training programs,
• E-learning.
Television and
Phones
• TV programmes, game shows,
• Call centres.
Advertisement
• Advertisements for each instrument and institution,
• Digital screens in shopping malls, subway stations,
airports.
Publicity Campaign
Abroad
TSPAKB
• Turkish citizens living abroad,
• Foreign investors.
7
IFIE 2012
Universities and Schools
Undergraduate,
Graduate and
Doctoral Students
•
•
•
•
Seminars and training programmes,
Simulation Programmes,
Essay/Thesis contests,
Web based asset management simulation.
Primary &
Secondary School
Students
•
•
•
•
•
Web sites,
Seminars and training programmes,
Posters, documents, booklets, brochures,
Expanding curriculum,
Essay contests.
TSPAKB
8
IFIE 2012
Occupational Groups
Teachers,
Academics
• Seminars, documents, CDs.
Judges,
Prosecutors,
Lawyers
• Financial crimes seminar,
• A reference book with case studies of capital
markets law and breaches.
Market
Professionals
• Training programmes,
• New topics in licensing exams and license renewal
training programmes.
TSPAKB
9
IFIE 2012
Other Groups
Media
Chambers, Unions
and Foundations
Foreign
Institutions
TSPAKB
• Conducting seminars and training programs for
local and foreign media,
• Private meetings with media executives to design
a variety of public relations activities.
• Organizing training and publicity campaigns,
• Private meetings with senior managers to
establish information channels.
• Organizing joint seminars with foreign capital
market institutions to raise awareness about the
Turkish capital markets.
10
IFIE 2012
Achievements
Web site for investors; www.yatirimyapiyorum.gov.tr has been launched in 2010.
Facebook page became live.
Several booklets were published by the TSPAKB, Capital Markets Board and Istanbul Stock Exchange.
Seminars for women: in 20 meetings, 3.000 women reached and 3.500 documents distributed.
Essay contest for primary and secondary school students held in May 2011 and in May 2012.
31 university visits in 2011, 30 in 2012. Reached 11.000 students, distributed 16.500 documents.
Seminars in Germany in May and November 2011, for foreign investors and the Turkish community.
Turkish Capital Markets Day in S. Korea in 2010 and in Taiwan in 2011.
TSPAKB
11
IFIE 2012
IMPLEMENTATION
TSPAKB
12
IFIE 2012
University Seminars
 31 university visits in
2011, 30 in 2012.
 Reached 11.000
students.
 Distributed 16.500
documents.
 Held a drawing among
participants who filled in
a survey.
 The prize was free
attendance to a training
program at our
Association.
TSPAKB
13
IFIE 2012
University Seminars
 Universities also
visit market
institutions.
 We allocate 5
free seats for
university
students in each
training
program.
 In 3 months, 50
students used
this facility.
TSPAKB
14
IFIE 2012
Essay Contest for Primary & High Schools
 Capital Markets Board
and the Ministry of
Education held an
essay contest.
 5.000 applications.
470 passed the first
elimination. 17 were
awarded.
 6 students were given
iPads, 11 cameras.
 Hosted in Istanbul for
3 days with their
families and teachers.
TSPAKB
15
IFIE 2012
Essay Contest for Primary & High Schools
 The children rang the opening bell of the exchange.
 Newspapers and televisions held interviews with
the children.
 Essays are printed as a booklet.
 This project is awarded at the Child & Youth
Finance International Summit in April 2012.
TSPAKB
16
IFIE 2012
Meetings with Women
 Capital Markets Board
organised 18 meetings with
women in 4 big cities.
 800 women attended.
TSPAKB
17
IFIE 2012
Target 20.000 Women on the Way to IFC
 Private project, initiated by a
TV commentator and
sponsored by a conglomerate.
 Istanbul Municipality
provides the venue and
invites participants.
 Our Association provides
documents & information.
 10 meetings in Istanbul.
 3.000 women attended.
 3.500 documents distributed.
TSPAKB
18
IFIE 2012
Investor Education Workshop
 In March, we held a
fact-finding conference.
 160 participants from
market institutions,
market professionals,
academics, journalists.
TSPAKB
19
IFIE 2012
CHALLENGES
TSPAKB
20
IFIE 2012
Old Products
No. of Inv.
Equity Investors
1,150,000
mn. $
120,000
Equity Investments
No. of Investors
1,100,000
100,000
1,050,000
80,000
1,000,000
60,000
950,000
40,000
900,000
20,000
850,000
0
2007
2008
2009
2010
2011
Mutual Fund Investors
No. of Inv.
Mutual Fund & ETF Investments
No. of Investors
3,000,000
mn. $
24,000
 Increasing number of
investors.
 Equity and mutual fund
investments are stable.
 Pensions funds are
growing.
No. of Inv.
3,200,000
Pension Fund Investors
Pension Fund Investments
No. of Investors
2,800,000
mn. $
8,000
7,000
2,500,000
20,000
2,400,000
6,000
2,000,000
16,000
2,000,000
5,000
1,500,000
12,000
1,600,000
4,000
1,000,000
8,000
1,200,000
3,000
800,000
2,000
500,000
4,000
400,000
1,000
0
0
2007
TSPAKB
2008
2009
2010
2011
0
0
2007
2008
2009
2010
2011
21
IFIE 2012
New Products
No. of Inv.
120,000
Corporate Bond Investors
Corporate Bond Investments
No. of Investors
100,000
mn. $
7,500
6,250
80,000
5,000
60,000
3,750
40,000
2,500
20,000
1,250
0
0
2007
No. of Inv.
2,500
2,000
2008
2009
2010
2011
Warrant Investors
mn. $
6
Warrant Investments
No. of Investors
5
1,500
4
1,000
2
500
1
0
0
2010
TSPAKB
2011
 Exponential growth in new
instruments.
 There are regulatory
protection measures, but
we need to inform investors
on the risk factors.
No. of Inv.
80,000
Futures Investors
mn. $
320,000
Futures Volume
No. of Investors
60,000
240,000
40,000
160,000
20,000
80,000
0
0
2007
2008
2009
2010
2011
22
IFIE 2012
Challenges
 In March 2012, a protocol is signed among 9 market
institutions, including the regulator, exchanges and
associations.
 The protocol outlines common goals and the
involved parties. The regulator is leading the
project but there is no clear division of labour.
 There is need for an organisation structure, such as
a Steering Committee and an Executive Committee.
 There is a need to clarify the funding sources and
sharing of costs.
 Coordination with the banking and insurance
industry needs to be strengthened.
TSPAKB
23
IFIE 2012
Wrap-Up
 There is a new generation of investors hungry for
new products.
 We have formed a national strategy.
 9 market institutions signed a protocol and agreed
on the basic principles.
 Institutions are working in harmony.
 But still, we need to establish an organisational
structure to implement the projects efficiently.
 We need to define responsibilities of each
institution more clearly.
 Most importantly, sustainable financing sources and
financing principles should be determined.
TSPAKB
24
Thank You!
www.tspakb.org.tr