2nd CFA Prestige Night Newsletter

5
CFAP pushes
for higher
investment standards
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.
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.
Prestigious finance tilt highlights CFA
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.
cfanewsletter1.indd 5
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 PhilippinesDiliman (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.
1/24/2008 3:29:38 PM
6
Portfolio
Jan R. Squires, CFA
Managing Director
Asia Pacific Operations, CFA Institute
MESSAGES
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
cfanewsletter1.indd 6
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.
1/24/2008 3:29:40 PM
7
Mark L. Yu, CFA
President
CFA 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.
Philippines… Inc.!?
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?
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…
cfanewsletter1.indd 7
1/24/2008 3:29:47 PM
Portfolio
8
Setting the highest standards of ethics, education,
and professional excellence in the investment industry
CONGRATULATIONS
NEW CFA CHARTERHOLDERS
ALPHEW T. CHENG, CFA
MARIA CORAZON A. DELA CRUZ, CFA
MARIAN C. GIMENO, CFA
IRENE B. GRIPALDO, CFA
DOJI F. LUBERAS, CFA
MARY JADE T. ROXAS-DIVINAGRACIA, CFA
BERTRAM RODRIGO F. SARMAGO, CFA
HANSLEY HEINRYCH C. SEE, CFA
Level III Passers
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Liza A. Chan
Marco Ronald G. Co
Alvin Aureo T. Endaya
Pranup Karmacharya
Carl Stanley T. Sy
Marie Stephanie C. Tan
Level II Passers
Rose Christine D. Badillo
Joanna Y. Bocboc
Luz Pilar D. Glinoga
Iris B. Gripaldo
Gavin C. Lee
Marvin S. Lim
Patrick Philip T. Lim
Patrick Joseph G. Manaloto
George S. Ongkeko Jr.
Nerissa D. Pabustan
Angel Marie L. Pacis
Tristan A. Taghoy
Daniel A. Wiedmer
Level I Passers
Reynold A. Afable
Juan E. Andaya
Ma. Andrea D. Antonino
Juan Carlos G. Aquino
Cristina P. Arceo
John B. Balce
Joel N. Bangalan
Kumar Binitesh
Xavier John V. Buensalido
Sharon Jane L. Cardeno
Fritz Gerard O. Chan
Madeliene Paula U. Chan
Georgina Grace Chingkoe
Irene M. Chua
Celine L. Cruz
Jonathan P. David
Maria Marisol A. De Villa-Go
Kristoffer Cris B. Enriquez
Elaine Marie P. Fajardo
Natasha Iza K. Fernandez
Jeffrey A. Hernandez
Antonio Ma. M. Ingco
Jimmy Jagwani
Glenn Conrad N. Jao
Juan Miguel J. Javellana
Richard G. Laneda
Joseph Michael L. Leh
Candice Emily L. Leh
Geoffrey Brian G. Lim
Ryan Norman A. Lim
Ma. Henessa Zurish L. Lim
Jon Carlo C. Lim
Christopher R. Malaluan
Sundeep Malpani
Ma. Belinda S. Mandigma
Carl Vincent A. Melendres
Karen Khristine N. Natividad
Carlo Tinotte S. Nonato
Katrina D. Pabustan
Angela G. Panganiban
Junghoon Park
Allan P. Quijano
Cerre Klyne M. Resullar
Jan Briace S. Santos
Kimberly Diane T. Tan
Brian Benedict O. Tee
Ma. Teresa Rosario M. Templo
Rizaldy Royce G. Teo
Ritchie Ryan G. Teo
Sheryl C. Uy
Dyanne L. Ventura
Maria Lilibeth L. Vinluan
Benjamin 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.
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1/24/2008 3:29:48 PM