CFA Institute, the global association of investment management professionals, announced that 4,022 candidates from the Mena region sat for the Level III CFA exam in June, marking an increase of 8 per cent from last year.

Out of the total of31,631 candidates, 54 per cent passed the third and final exam. All candidates will be notified of their exam results today. Successful candidates will become CFA charterholders starting in early October pending verification of professional experience and other membership requirements.

They will join more than 142,000 charterholders around the globe who have earned the CFA credential and who lead the investment industry by promoting the highest standards of professionalism for the ultimate benefit of society.

The number of candidates who sat for the Level III exam this exam cycle grew by nearly 10 per cent globally, year-over-year. This caps a 28 per cent increase in Level III candidates over the last five years, reflecting a growing interest in the CFA charter as an international credential and building professionalism in investment management.

The three fastest growing markets are outside of the United States with the strongest growth in mainland China where 33,934 candidates sat for the exam, surpassing the number in the United States for a second straight year. Growth also was notable in India where candidates tested increased by over 20 per cent and in Brazil by over 16 per cent, compared to 2016.

Of 56,939 candidates who sat for the Level II exam in June, 47 per cent were successful. Of 63,283 candidates who took the Level I exam, the pass rate was 43 per cent. These candidates will continue on their journey to becoming CFA charterholders.


“As leaders in the industry, we must be bold in our work to focus the investment management profession on redefining value and reclaiming investor trust,” said Paul Smith, CFA, president and CEO, CFA Institute.

“I call upon CFA candidates and charterholders to advocate for a new professionalism by revising business models to deliver more value; and leading with candour and transparency to earn back investor trust. Congratulations to these successful candidates who we hope will soon join us in our earnest pursuit of this mission.”

As investment management enters an era of new professionalism, CFA Institute is also strengthening its partnerships with firms worldwide who employ current and future CFA charterholders. By engaging with investment management firms, the organization hopes to generate support to build professionalism, raise standards industry-wide, and win investor trust.

Michael O'Brien, CFA, FIA, chief executive, Asset Management EMEA & Global co-head, Asset Management Solutions Business at J.P. Morgan Asset Management EMEA, said: "We remain committed to raising standards in the investment management industry and we congratulate all candidates on their remarkable achievement in passing their exams. In an ever-changing world, recruiting and retaining the very best practitioners is of paramount importance.

“Each and every successful candidate will be instrumental in the future professionalisation of the industry through the development of their individual careers, by focusing on making decisions which place investors' interests first, and the collective impact charterholders have on society at large through the global community to which they belong.”

To accommodate growing interest in the CFA Program and candidate growth around the globe, CFA Institute expects to add test centres in seven new locations in the coming year. Starting with the December 2017 exam cycle, the organisation will establish test centres in Anchorage, Alaska, United States; Halifax, Nova Scotia, Canada; Hangzhou, China; and Rio de Janeiro, Brazil; and in June 2018, will add new test centres in Barcelona, Spain; Dalian, China; Hyderabad, India.

The June Level I, II and III exams were administered in 262 test centres in 182 cities across 91 countries worldwide. – TradeArabia News Service