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CFA Society India
Source Name: CFA Society India

Investment Industry Recommends a Jan Nivesh Yojana to Attract Millennials

Apr 25, 2017   17:27 IST 
Mumbai, Maharashtra, India


  • Investment community speaks about the need for simple investment processes for millennials at CFA Society India ‘Rethinking Financial Services for Millennials’ event

  • CFA Institute unveils its ‘Future State of the Investment Profession’ study at the event highlighting Leadership Skills as Critical to Future Competitiveness


CFA Society India, one of the 147 CFA Institute member societies, jointly hosted its annual Putting Investors First event ‘Rethinking Financial Services for Millennials’ in association with the Institute of Chartered Accountants of India (ICAI) and National Securities Depository Limited (NSDL). Putting Investors First is a global CFA Institute initiative and part of the Future of Finance program that aims to raise awareness and build supportfor aligning the interests of investors and their customers in a way that fosters trust and improvesoutcomes for investors.


The event featured two power-packed panel discussions on the state of the investment profession and its preparedness in serving millennials.Panelists included — Navneet Munot, CFA, Chief Investment Officer, SBI Mutual Fund; Kalpen Parekh, Joint President, DSP BlackRock AMC; Ravi Subramanian, Author, If God Was A Banker; Mandar Mhatre, Entrepreneur and Investor; Partha Iyengar, Co-Founder and Managing Partner, Life & Money; Amit Kumar, Partner and Director, The Boston Consulting Group; and Talvinder Singh, Product Head, Flagship, OYO Rooms.


What experts’ say

“What millennials are looking for is ease and convenience in investment. It’s important for the industry to bring more simplicity in processes / documentation to attract them. Government should consider bringing a scheme for investment in equities called Jan Nivesh Yojana along the lines of the Jan Dhan Yojana to attract millennials.”

Navneet Munot, CFA, Chief Investment Officer, SBI Mutual Fund


“Most millennials’ large investment decisions are emotionally driven; hence we need to understand and guide them on their investment requirements.”

Partha Iyengar, Co-Founder and Managing Partner, Life & Money


“It is a welcome change to see millennials increasing interest insavings and investing at a younger age as compared to earlier generations. This trend is positive and further educating these potential investors about various investment options will be important.”

Mandar Mhatre, Entrepreneur and Investor


“We need to engage with millennials and make them aware about investments, especially when markets are high.”

Kalpen Parekh, Joint President, DSP BlackRock AMC


In its recently released the Future State of the Investment Profession study, CFA Institute describes an investment industry at an existential crossroads and warns that investment industry leaders who fail to transform their business models may jeopardise the future of their firms.


“Nearly 30% percent of India’s population was born between 1980 and 2000. Compared to earlier generations, millennials save, borrow and invest in ways that differ significantly from older consumers. Investment industry leaders need to make decisions over the next five years that will not only impact their firmsbut also the entire landscape of the investment profession as we know it. Ultimately, putting Investors First is about creating the right products and giving sound advice,” said Jayesh Gandhi, CFA, President, CFA Society India.


Key Survey Findings

The views of more than 1,000 investment management professionals, including CFA charterholders indicate that significant change on all fronts lies ahead over the next 5-10 years


Changing Investment Trends

  • 73% expect environmental, social and governance factors will become more influential

  • 70% expect financial centres in the Asia-Pacific region will become more influential




Business Models Facing Pressure

  • 84% expect industry consolidation

  • 70% expect to see more assets going into passive investment vehicles

  • 63% expect profit margins at asset management firms to remain flat or to contract

  • 57% expect institutional investors will look to reduce costs by in-sourcing more investment management activities






Opportunities on the Horizon

  • 55% expect globalisation will offer new opportunities for investment professionals, while 18% perceive globalisation as a threat

  • 49% expect technologies will present new opportunities for investment professionals, while 23% see new technologies as a threat


Among the megatrends identified are technological advances, redefined client preferences, new macroeconomic conditions, different regulatory regimes reflecting geopolitical changes and demographic shifts. The scenarios are not forecasts but include possibilities for the future state of the investment industry. 


About CFA Society India

CFA Society India, (previously known as the Indian Association of Investment Professionals / IAIP), was established in April 2005 as an association of local investment professionals consisting of portfolio managers, security analysts, investment advisors and other financial professionals. As one of the 147 CFA Institute member societies, CFA Society India connects local members to a global network of investment professionals.


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About the Research

In 2016, CFA Institute commissioned the Institutional Investor Thought Leadership Studio to survey members of the investment management profession for an overview of the current and future state of the profession. A questionnaire was distributed to two lists, one drawn from Institutional Investor’s database, the other from CFA Institute. There were 1,145 responses (644 from CFA Institute) collected from 8–22 December 2016, with a margin of error of 2.9%. In addition, Institutional Investor conducted interviews with 19 executives in the investment management profession to obtain context and further details about the collected data. High-resolution images from the study are available upon request.


About CFA Institute

CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organisation is a champion for ethical behavior in investment markets and a respected source of knowledge in the global financial community. The end goal: to create an environment where investors’ interests come first, markets function at their best and economies grow. The CFA Institute Future of Finance initiative is a thought leadership program to critically examine the industry and advance a more investor focused and sustainable profession. CFA Institute has over 146,000 members in 160 countries and territories, including 140,000 CFA charterholders and 147 member societies.


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