Interest in pursuing the CFA® Charter grows to record high, with Asia Pacific the engine of growth globally
CFA Institute announced today that more than 250,000 candidates worldwide have registered for the Level I, II and III CFA® exams in June this year, an increase of 11 percent over the same period last year. The number of test centers also significantly increased from 286 to 348 in 95 markets around the world, reflecting growing recognition of the CFA designation, particuarly in emerging markets. The exams were administered in Asia Pacific on June 15th and 16th, 2019.
“Pursuing the CFA designation is a very rigorous process, with less than one in five candidates successfully completing the process to earn the charter,” said Paul Smith, CFA, President and CEO, CFA Institute. “We are gratified to see the record number of candidates willing to put in the work, continue to grow each year. Especially in new markets around the world where finance plays such a vital role in building strong economies. In addition to signifying the gold standard for financial acumen, the CFA Program sets a critical, high benchmark for the level of ethical behavior and fiduciary responsibility necessary to preserve the respect and confidence of investors.”
The Asia Pacific region continues to see the fastest growth in candidate registrations. Regionally, key growth markets include Australia at 30 percent year-on-year growth, mainland China with year-on-year growth of 20 percent, India with a year-on-year growth of 16 percent, Japan at 15 percent, Hong Kong SAR (China) at 14 percent and Singapore at 8 percent over the same period. These growth rates reflect an increased region wide demand for new financial talent.
As a result of the growth, the number of test centers in the Asia Pacific region has increased from 60 to 128 as compared with June last year, representing 37 percent of the 348 test centers in the world.
“The growing demand for the CFA designation is a testimony to raising the level of professionalism and standards in the investment industry in this region. We anticipate this growth momentum to continue in view of the enormous market opportunities across the region, “ said Nick Pollard, managing director, Asia Pacific, CFA Institute.
“With the increasing supply of high-quality candidates in Asia Pacific, we are bullish to see a corresponding drive of higher quality of service and advice in the investment sector. We strongly believe that CFA charterholders raise the standards of the investment management industry and contribute to making finance a highly-regarded profession,“ Pollard added.
Each year, input is gathered from practitioners around the globe to guide additions, deletions and revisions to the 9,000-pageCFA Program curriculum to ensure its continued relevance to investment management professionals. The 2019 curriculum has a total of 10 new readings, including Fintech applications, machine learning and two new ethics cases within a fintech work setting; latest practices in active and passive equity investing; and enhanced reading on professionalism in different occupations within investment management.
CFA Institute has more than 165,000 CFA charterholders who work in many of the industry’s most prominent investment banks, asset management and investment advisory firms. The three-level, self-study program covers topics including Ethical and Professional Standards, Quantitative Methods, Economics, Financial Reporting and Analysis, Corporate Finance, Equity Investments, Fixed Income, Derivatives, Alternative Investments, and Portfolio Management and Wealth Planning.
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