Global Market Sentiment Survey - CFA Institute

CFA Institute GLOBAL MARKET SENTIMENT SURVEY 2014 Investment professionals increasingly confident global and local economies will grow in 2014 Coonomic tuneronon rooe is electedin groter comn about he moldwde economy tempered by concons over colcar otaty Most C mters Thes some spt teenmon caes te goba economywepandn Tyouoh temembertasesmentst 2014. Ns eptimne outoo epresores prpects her localmaswn aotynach regonaricotng loca econom wh2 LOCAL AE asgtet om epevo two arlt yars Mart Sertment Survey ony 4ofmebers Pariculay stngis the tumarourdin epressed optmaboutthe wordwde economy dg Ts yeamenbers n the sertinentinfre etecting entes betet athe bemonhas bem ched anda wbound hasbeun of menbers MEAurope the Mode Unted Kingdomae the mout optimtc aboutthe gubal economy with epectngepanoon btan and eman East and eaues expeet ther members are maypotye m N nca matets eand24shap and 20. regpectivey Wenbers e Cna cortastfom lat yas surwy in which o 3 of (Aenbers ndcated ethe most cautoun wh onty seena they cetebeconomy Pesane png Overa entes toand in the comg Even ts ndicane that e ros ofcovery nfurgewNavea postive impact on e maks Anonotrwthythe noed eot anoe o umbe hovsognicantyhgher an he mee omentes inCna who epected giobulgowin 20 AUSTA pconomc esnangon compared to 20a ONGEN Political instability and the end of quantitative easing bring uncertainty to local markets OCAL A Oe vestnere petessionassome major mots pore wards potical inty andurivest inthe e laitto mpact ocarpedomance Mers rosattsggtt det of membersinAC5 nd MEA tos and s sone Hatynefecting teror ace of Gof mebesowdey they re concemed ttPerospectof cert basendingoarveng whve general ections next yeamaprity of Soun canmentes o ote pocal itattya thett te oc mutut an dumembern ac anegtve npactan the mtn 204 uves of concem were especaty hghinacand ndaand pectively OONandthe ureesasoEL as einda ready gearing Over hae Aste nerbosoredct atranc lethe hme Are vode tat cortres toepeience poiuvest tyofmenbers the coming wa here onen asto hch assets ae oerved the eception c whereamortyof ebers 2iveel estaneasaly ecoroes Wntersinthe Anercaswh buboein ther ooreanelheext worldeide0 poirttothe potentiu ects netty couh n mer prices asa t t eocal esdpendence oninports ofol fom the Moset ce poites tyin the egonaconcen notthe PERCENT or M SAce NO RERLCAL MAET Members call for global oversight and local enforcement Goouy membes ompovedouatonand overpget guoarystene ks os e most mporre octonnoododn 20o buldvestor tot and moket integty for te locamoiets, monters say bete entorcement of cng ows and stonger copoo govenonce standords rethe stros nthe atemath of the rance e gonon in 200 da this seemene onge ote ann IMA e Americas onu cr estor stmatets and arkat particeants has roded the O nottman avestor uot Shudy A ty etesndcateha OANCE PACTES conducted earer thes yno. contemed that evestrswoowdeve et in the investment pr on and eleve thee is much atcanbe donetta noved gotal coodton of montaing systenic rigksisthe mout ely wyto ptve retnonca nes 2 ofrentes ocie areed tpoedansprecyin fnanepo and other cono trutt that shud reveedhat N oNG CSANGs s AR otvestors sveyedrepresentatve maormats ust investnentfensto dodoures CAL M s dowhatsrgh ecting the eperence ore 200 ancalsand ongong Scndasudoney ndno oue Wentese rinprovenertsin LONND tading tanputon and ese tading estorslcortinue to tactor PO A MMLO O PCTICES the datrustnthe stnet decons aneeteeded aton tMe ly nongthe cost f caotand even dving some inwstors otef the at hoh he atal eten Sandad BoardASndeancel captal makets entrd TR T A THE GLOAL LEVELA CALLFOR Accourng Standetso AN COOROADROLATORY OVERSOT 2of menbers sae mot proposed ewstandaros toecogreng paets ne eis tiwyenggedonthe ue R ces ebesndce tore standorded deves tust and markat integitysproved reguaton and bersght of ysteme rok comportively of menbers seiected conttwhnoed cenlceng Memters cal torgooaloversight and locaetorcement Muntesthe Aeric eonte emcacy eteunentregunory eftons temoe conty mornto oo big no ta tons wth ugy ers membesntoputing the to have unntended negave consevences MSSELLNO ANO MIKETRAO STEL TAENIANCALINTEOATY Menters anderoted he ng w o ANC ONG most serious nct fng ther ocanaetsnhe comng .urthe percentage this won 20 t y Anmost identica and expectingthe posibty toprevert SIM MM SSTRC Mure oes proporton of emonbers 2dented manetaudrde badingthe WCAL MAS secondnost seious sue bet wtn Relocalaatevemertes wde onsby markanging tom ete improued nforoement ofextng ws andeguotons inthee home ts gou wed bymoroved SMNT MA sTRC corpoute govenarce practices o asthe gtory or ndustry actons most reedednhe comngyear to help tace tcaoion oostdeo norove t et Mnters gtees andean enforcement a ptoy c ingroved enforoement of eting las terestngly merbers do not thm and reguotons n ther own maket theohest oraoortonot menters c toroved orpotgove ce pactces inther home matsen Inda Swtond and Hong org eachi inOna howe the strongest cal setngof prodts ty financal advisers shenot ereusefaong gobal markets the coming ye Market haud up tons t yea dacoures and use of oatives by financal fem 20 and the honestytegy of francial reportng an contentwth t yeaareveedas more serious esdo onded utects coot a go net arcomctonft Lack of ethical culture in financial firms eroding investor trust to rebuhe conddence of nestors in me roncal secto emca conduct conror smply be gstrd or tken for ganerd emust be fostered and moouragrd by an ethccuer he fm ivet an avL ACTION OST NEEDED TO HEP VESTO TST AND CONCENCE in corast te meroes ot ver econom rowth pospects tey e cearthtthey voue egity over not epect the state ofrgtyngoto Cap matsto ymoo Asnpro yes over hut otmembers etunawhen aked by the O toanea t y te hey oonsde e mot mporanthen mounga deosontehe aninestinert A port toalack ofethcal cuture managn ivestosdose e tokEn ynt tmests twce as oenas ty e anca fems a the foctorthot Howve oy 37s of rcerservoes ecuves e DUE beter etcs wadtbette rarc sag ssadrat caer progresson oud be brckywthout teng tete ever ec sarda ngo torexeutves n esnent berg th ts fem cuture than inggroute seoutry EVEAnan nsa Pactc and Iestors shoud bettedyan oportunity andenubling one gneabon Arecent moort onehca conduct enc secesGA D or Ce whie mosenhe ndustry agee wth the prinope ofethcal standards ey t v s and sonvces to mae Vng nes anowteen rac Serces scono tnute and see the drect francaor personarsuts conducted by ne teanome toerce Whe the ecoromy may beoundng ceryn tne feesnee communty tbecome comolocent too me has anged e oe t woudhoprevet an etydtctve Metare Partooares ns systom row oeeegs te te ne ar une tuovdes an testg the gapstt chavor s seen courporere resuts of me Ge Mudt Sentment Sur the Cupo and teated as essent by nestment evty atatenty e have a potessonas pesonve Pen rovngeouces finds hat franca servces eecutives toppotand anythoeo No achof he aonos pens y eyabrton e seguenee of ses thos seen durng the past yrors g te nenbes coronuetrdcte around e wore agrted overahomngy etetco conductis jutas thut ancaloutetahed and reoragedtypnanagoment and utvesisthe moteededten ctonnhe ooning year tonprove estor stand confidence O toowed ty noesed adheenceo ecar codesand standores o importart as frarcscoss at he fem wh s ying they woudpreter to stnert protessoro reed to te the wonoafem wma decert reputaton for ehcat conduc antronewchis boge oportunty to be acatyo change e ry foroe or good hepng bud esea tcre povang grnater ormor prte but hes uestonate eca standas fo e pat vetors inln. il..