Advocacy Talking Points 15 September 2020
Opportunities and Challenges of ETFs in Asia Pacific
Should we worry about systemic risks?
Webinar presented by CFA Institute Asia-Pacific Research Exchange
Webinar Presentation: ETFs in Asia PacificDownload PDF
Exchange-traded funds (ETFs) and other passive investment products have made investing in markets simpler and cheaper, opened up to investors new asset classes, and helped them create well-diversified portfolios easily. While ETF investment in APAC has experienced strong growth over the last three years, it only accounts for 10% of the global ETF assets. Will the trend continue? If so, which markets and sectors are likely to drive the growth?
Meanwhile, the immense popularity of ETFs in the United States, where passively managed funds hold more than half of all stocks, has raised concerns of systemic risks, such as exacerbating or even causing market disruptions. How pertinent are such risks in Asia Pacific, where ETFs are far less popular? Or are investors in the region who ignore ETFs missing out on the cheap and easy way to earn market returns? Should the regulators and the industry promote passive investing, or should they be cautious about the risks they pose to investors and whole markets?
In this webinar, CFA Institute presents a research report “ETFs and Systemic Risks”, followed by a panel discussion on ETFs in Asia Pacific.
- Piotr Zembrowski, CFA, Manager, Advocacy Research and Content, APAC, CFA Institute, Hong Kong
- Anil Ghelani, CFA, Senior Vice President, Head of Passive Investments & Products, DSP Investment Managers, Mumbai
- Deborah Fuhr, Managing Partner and Founder of ETFGI, London
- Simon Brailey, Executive Director, MSCI, Hong Kong
Watch the Webinar
Simon is an Executive Director within the Asia Pacific Index Product Group at MSCI. He is responsible for business and product strategy, product development and the overall ETF Index Product business in APAC.
Simon joined MSCI in June 2020 from Fidelity International, where he led the ETP business for APAC and the Product Strategy function for Asia ex-Japan. Prior to this, he was with BlackRock in a number of ETF Product Development and Capital Markets roles in APAC and Europe.
Simon holds a BSc from Keele University, England.
Deborah A. Fuhr is a partner and co-founder at ETFGI LLC, an independent research and consultancy firm that provides services to the exchange-traded fund (ETF) industry. Previously, she served as a managing director and as global head of ETF research and implementation at BlackRock/BGI. Ms. Fuhr also worked as an associate at Greenwich Associates. She holds a BS from the University of Connecticut and an MBA from the Kellogg Graduate School of Management at Northwestern University.
Mr. Ghelani has been working for the DSP Group since 2003. The DSP Group has a legacy of more than 150 years, making it one of the oldest and most respected financial services firms in India. He is currently head of passive investments and products. Previously, he served as the business head and chief investment officer at DSP BlackRock Pension Fund Managers. Earlier in his career at DSP, he led the risk and quantitative analysis team, providing quantitative research inputs and buy-side credit research on companies across various sectors.
Mr. Ghelani has also worked at IL&FS Mutual Fund and at S. R. Batliboi, a member firm of EY. He has been a volunteer with the CFA Society India for more than a decade and currently serves as the vice chairman on the board. Mr. Ghelani is a CFA charterholder, Chartered Accountant and holds a Bachelor of Commerce degree.
Piotr Zembrowski, CFA, is manager, advocacy research and content, Asia Pacific Advocacy & Policy Outreach, at CFA Institute. He conducts research into financial regulation, to support the advocacy team's development and promotion of capital markets policy perspectives in Asia Pacific. He is also responsible for content management and editorial aspects of Asia-Pacific Research Exchange (ARX), an online research-publishing platform. Piotr has four years of experience as a financial journalist in Hong Kong, covering asset management, fintech and ESG, among other topics. Previously, he worked at TD Bank in Canada, where he was responsible for development of online and mobile banking and investing platforms. Piotr has a Master of Science degree in astronomy from University of Toronto and a Master of Journalism degree from the University of Hong Kong. He earned his CFA charter in 2006.