Global markets may be down, but signups to take the CFA exam in June are way up.
A record 86,421 analysts, money managers, investment advisers and students from 143 nations and territories have registered to take one of three, day-long exams required to become a chartered financial analyst. The series of tests, which takes at least three years to complete, will be offered around the world simultaneously in early June.
While the United States still accounts for the largest source of applicants, at 44% of the total, the rate of growth in the number of applicants is highest outside the United States. The greatest percentage increases were in the United Kingdom, up 55%; South Korea, 50%; and South Africa, 32%, according to the Association for Investment Management and Research, Charlottesville, Va., which administers the test.
The CFA accreditation is in such demand that the number of candidates in South Korea is 60 times more than the number of CFA holders in that country. This year's jump follows a 142% jump last year. Similarly, Spain has 15 times as many candidates as CFA charterholders, and Germany, 11 times. In Egypt, where just nine investment professionals are CFAs, 413 people have signed up for the tests.
Nor have down markets depressed the number of applicants. A few years ago, AIMR officials closely were watching registrations in Asia following market losses there, but there was no sign of a slackoff, said spokeswoman Kathy Valentine.
"It almost seems the CFA exam is able to rise above market ups and downs," Ms. Valentine said.
