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pub_date:Investors worldwide believe there is much that can be done to restore trust in investment professionSingaporeIF you are an investment manager, you may do well in building trust with your client as he or she is likely to value ethical behaviour and transparency more than the performance of the investments.self storageA CFA Institute/Edelman Investor Trust study shows that investors worldwide have little trust in the investment profession and believe there is much that can be done to restore trust.According to the study, just 53 per cent of investors in the US, the UK, Hong Kong, Canada and Australia trust investment firms to do what is right. Retail investors appear to be less trusting of the industry, as only 51 per cent of them indicated so, compared with 61 per cent of their institutional counterparts.Geographically, investment managers in the West appear to have a greater trust deficit with clients than their colleagues in the Eastern hemisphere. Only 44 per cent in the US and 39 per cent in the UK trust their investment managers to do what is right as compared to 68 per cent in Hong Kong."This survey sends a clear message. Trust is absolutely critical to the future of finance, and it is up to all of us to help shape a more trustworthy financial system," said John Rogers, president and CEO of the CFA Institute."Investors believe the professionals they work with have been the most effective in earning their trust. This represents a significant opportunity for investment professionals and firms to actively build a culture where ethical practices are valued as highly as investment performance."This lack of trust in the investment industry does not translate to the capital markets. Nearly three-in-four investors report that they are optimistic about their ability to earn a fair return in capital markets. Yet intensity of that confidence is low, as just 19 per cent of investors "strongly agree" that they have a fair opportunity.However, before investment managers can claim victory for investors' trust in the capital markets, their joy may be short-lived. Just over half of investors, at 55 per cent, note that investment managers they work with have been the most effective in enhancing their trust in the capital markets.There is, however, a greater role for governments to play whe迷你倉 it comes to increasing investors' confidence in the capital markets. The survey reveals that 38 per cent and 35 per cent of investors respectively believe that national regulators and global regulators have been the most effective in enhancing their trust in the capital markets.Investors do expect governments to help build trust in capital markets as 52 per cent point to national and global regulators as having the greatest opportunity to effect change and enhance trust moving forward, far more than individual investment management professionals, at 28 per cent, and investment management firms at 13 per cent."When people lost trust in business during the financial crisis, they turned to government. And when they lost trust in government, they turned to individuals," said Ben Boyd, global chair of Edelman's corporate practice. "Through our 13 years of studying trust through the Edelman Trust Barometer, we have increasingly seen an emphasis placed on individuals to behave in ways that build trust and protect reputation. As this study shows, this holds true for the investment management industry as well."The study also reveals that putting investors' interests first is critical. Investors report that trusting an investment manager to act in their best interest is the single most important factor in making a hiring decision. Achieving high returns was cited only half as often, and fee amounts/structure only a fifth as much.Investors also indicate that behaviour-related attributes - including transparent and open business practices, responsible actions to address an issue or crisis and ethical business practices - are more important to trust-building than performance-related attributes such as delivering consistent financial returns and offering high-quality products or services."By focusing only on performance-centric standards, the industry is missing opportunities to build trust," said Kurt Schacht, CFA, managing director, Standards and Financial Market Integrity at CFA Institute. "Investors indicate in this study that they want a culture shift - a renewed focus on ethical behaviour. Individual investment managers must be transparent, demonstrate integrity, and communicate clearly to strengthen client relationships and preserve trust in the industry and the markets at large."文件倉