News this week: How the CFA made fund managers obscolete, the pitfalls of China’s unregulated retail investment products, and Jamie Dimon hints at JPMorgan’s evolving “fintech” strategy:
Swipe by Swipe, Chinese Smartphone Users Flock to Risky Investments (The Wall Street Journal)
The Chinese government has championed personal finance as a way to diversify their economy beyond manufacturing. But rapid growth has led to poorly regulated products – where anyone can create an ETF and market it to consumers.
Who Killed the Active Manager? (Bloomberg Gadfly)
The CFA certification, Vanguard’s rise, and other factors that led to the decline of the active fund manager over the past ten years.
What Dimon Had to Say About Fintech in his Annual Letter (American Banker)
JPMorgan’s chief used “fintech” to refer to new in-house technologies, API partnerships with fintech startups, and digital banking experiences.