ASEA, CFA Partner to Raise Standards in Investment Management

The African Securities Exchanges Association (ASEA) , has signed a two year Memorandum of Understanding (MoU) with CFA Institute to increase access to the professional education programmes and standards of professionalism within the ASEA community’s jurisdictions.

As a result of the pact, CFA Institute has extended its suite of educational offerings to ASEA member exchanges, regulators, brokerage firms and any other capital market stakeholders within the ASEA member exchanges’ jurisdictions at discounted rates.

The programmes are: CFA Institute Investment Foundations certificate programme, which covers t the essentials of finance, ethics, and investment roles, providing a clear understanding of the global investment industry. The CFA Programme Scholarship that enables eligible candidates to enroll in the CFA Program to begin earning the Chartered Financial Analyst® (CFA) credential, the most respected and recognized investment management designation in the world. There is also the Certificate in Investment Performance Measurement Programme for advanced, globally-relevant, and practice-based investment performance and risk evaluation skills which enable professionals to put clients’ interests first. Another one is the Ethical Decision-Making webinar, which offers free access to an ethical decision-making framework for the highest standards of ethics in the investment profession.

Commenting on the development, President of ASEA, Mr. Oscar Onyema, said: “This new partnership with CFA Institute complements our strategic objectives and we are delighted to be working together for the mutual benefit of our organisations, by providing capital markets stakeholders on our continent with the skills and tools they need for sound investment management and ethical practices. The more we promote proficiency and ethics in our markets, the more African markets will be attractive to investors.”

Also speaking, President/ CEO of CFA Institute, Paul Smith said: “This MoU is our first significant step towards beginning to invest more meaningfully in Africa. By bringing our programmes to the ASEA community, we hope to enable employees to train and capacity-build for Africa and contribute to the development of its financial markets.”

Meanwhile, the stock market resumed on a positive note yesterday with the NSE All-Share Index rising by 1.67 per cent to close at 32,657.30 on bargain hunting by investors. Bellwether stocks in banking, industrial and consumer goods sectors contributed to the growth.

There were 26 stocks price gainers while 21 other depreciated. United Bank for Africa Plc led the price gainers with 8.17 per cent to close at N9.00 per share. N.E.M Insurance Plc trailed with 7.3 per cent, while Diamond Bank Plc garnered 6.19 per cent.
Conversely, Julius Berger Nigeria Plc and Okomu Oil Palm Plc led the price losers with 4.99 per cent apiece. Unilever Nigeria Plc and NASCON Allied Industries Plc trailed with 4.98 per cent each.