CFA Institute prepares to open brand-new test centers in 6 nations to accommodate the need for its infamously tough credentials, favored by those seeking to create a profession in fund management.
Centers in Anchorage (United States), Halifax (Canada), Hangzhou and Dalian (China), Barcelona (Spain), Rio de Janeiro (Brazil) and Hyderabad (India) will be included over the coming year to the 262 currently being used.
The statement follows a 10% year-on-year increase in the variety of prospects sitting the Level III examination.
The Chartered Financial Analyst Program is a crucial stepping stone for lots of prospective fund supervisors. Prospects are anticipated to invest around 1,000 hours studying for the tests, which cover subjects varying from monetary reporting and wealth preparation, to ethical requirements and portfolio management.
The boost in need comes, nevertheless, as conventional stock-picking fund supervisors and the companies that use them deal with worldwide headwinds, varying from regulative pressures to the increase of passive financial investment techniques.
Mike O’Brien, the president of JPMorgan Asset Management in Europe, the Middle East, and Africa, stated: “Each effective prospect will contribute in the future professionalization of the market.”
The 3 levels of tests were taken in 91 nations this June. Over half (54%) of the prospects that took the Level III test passed, CFA Institute stated– the exact same portion as in 2015. Pass rates for levels one and 2 were 43% and 47%, respectively.
CFA Institute did not expose the variety of no-shows for the test. It has been working to reduce the number, which has been constantly high. In 2015, 20% of trainee’s due to sit the tests cannot appear on the day.