Registration for Philippine investment professionals for Chartered Financial Analyst (CFA) exams has increased 73 percent for December 2009 compared to December 2008, CFA Philippines reports. The Chartered Financial Analyst (CFA) designation, administered by the US-based CFA Institute, is the global standard for investment profession.
There are two registration periods for CFA examinations in a year – June and December. CFA Level I exams are offered both in June and December while CFA Levels II and III exams are only given during the month of June. Registration for June 2009 has increased by 17 percent from the same month last year. The total percentage of increase for the 2009 is 26 percent.
“These numbers are good news for CFA Philippines. A 73 percent increase in registrants for December means that there is growing interest among finance and investment professionals to acquire the CFA designation,” says April Lee-Tan, CFA of CFA Philippines.
To gain the right to use the CFA designation, a candidate must complete three rigorous, six-hour exams covering topics which include ethics, financial statement analysis, valuation, derivatives, economics and alternative investments and at least four years of relevant work experience in the investment decision making process.
In the Philippine finance and investment industry, holding a CFA charter poses several advantages. For instance, the Trust Officers Association of the Philippines has issued a directive that personells within trust departments have to pass at least the CFA Level 1 exam before they can be involved in the investment function of UITF portfolios.
Also, locally and internationally, CFA charterholders are sought-after. The CFA designation is often cited as a preferred qualification for finance and investment professionals.
“Employers in the finance industry typically look for people who have these qualities: competence, passion, and integrity. If you are a CFA charterholder, you will most likely fit the bill. Completing the charter requires dedication and big investments of time and cost. The average number of study hours to pass the three exams is 900 hours. And each exam costs at least $600, along with a onetime Program Enrollment fee, which is $390 dollars.” shares Tan.
CFA Philippines recently celebrated eight new qualified investment professionals who have completed the said process and gained the CFA designation. They were awarded during the 4th CFA Prestige Night held last November 19th.
The eight new Charterholders are: Reynold Afable, CFA, John Balce, CFA, Ericson Cabral, CFA, Shuji Hashizume, CFA, Glenn Conrad Jao, CFA, Marvin Lim, CFA, Cherryl Ofracio, CFA and Daniel Wiedmer, CFA.
CFA Philippines is the local affiliate of US-based CFA Institute, the global, nonprofit member organization of financial analysts, portfolio managers, and other investment professionals.