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Influx of passive investing damaging value of CFA?

Hello all, I’ve been in the industry for about 3 years - will be able to get my CFA Charter in about 1 year from now - but I’m slightly concerned seeing all the continued redemptions from fund companies (eg. CI Financial hit hard again).  I’m looking to move roles right now (I’m an analyst/associate advisor for a PM in Private Wealth and want to get back into an institutional role) but I’m concerned about the state of equity research (sell or buy side) with the continued emergence of passive investment vehicles.  I was originally looking to apply to companies like CI for analyst roles, but I’m beginning to wonder whether that’s a good idea, given the climate.

Thoughts?

Passive is here to stay, but don’t let that deter you.  We won’t ever construct a portfolio that is 100% passive, active manager will always be used, the question is how much and in what asset class (less efficien ones).  Plus those basic skill of security selection will apply to other areas as well, skill is transferrable.