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2019 Alternative Investments Research Symposium was Successfully Held

Time: 2019-11-26 10:50 Print

On November 21 to 22, 2019, Alternative Investments Research Symposium co-hosted by XIN Real Estate Fintech Research Center, PBCSF and Institute for Private Capital, Kenan-Flagler Business School, UNC was successfully held. Heads, experts and scholars from academia, industry and regulators at home and abroad published research results and shared opinions and insights on topics such as global capital dynamics, global trend for institutional investment, risk diversification strategy for institutional investment, and China’s venture capital.

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(Symposium site)

Zhang Xiaoyan, Associate Dean of PBCSF and Director of XIN Real Estate Fintech Research Center took provided over the event and delivered the opening remark. Zhang stated that with the increasing wealth and investment need of Chinese residents, the improvement of financial regulatory system and deepening open-up of China’s financial market, China’s institutional investors are faced with broad development prospect. Based on the research on stock account data of an exchange, Zhang and her research team found that China’s individual investors took up 80% of the trading volume based on the account data of a stock exchange. Lacking expertise, most individual investors lose money in their stock market investments, which calls for professional investment institutions to assist with the asset allocation management. There is a huge market to tap in this aspect. Moreover, the current AI technology also brings impact on traditional financial institutions. From an academic perspective, Zhang and her team is studying to evaluate if AI algorithms can win over traditional financial models in the field of asset allocation. The research shows that AI algorithms do improve stock selection efficiency and optimize investment performance. Over the past decade, the income from strategies developed based on advanced AI algorithms is ten times of that from traditional asset allocation. Zhang hoped that the symposium could provide a communication and sharing platform for Asian, particularly China’s institutional investors to advance the industry development.

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(Zhang Xiaoyan was giving a welcome address)

An Qingsong, Executive Vice President of Securities Association of China delivered a keynote speech. He pointed out that under the backdrop of comprehensively deepening reform, higher-level of openness and new-technology integrated development, the securities industry is facing revolutionary challenges as well as historic opportunities. Registration pilot, high-level openness and new-technology application will bring changes to investment banking, investment and financing in capital market, and the industry competition ecology. He mentioned that from the point of historic opportunity, the business mode, investor structure, securities brokerage of investment bank and the basic system for capital market will be optimized and upgraded in the future. In retrospect of China’s capital market development practice over the past 29 years, An Qingsong held that strong regulation is the principal for building a vigorous and resilient capital market. It is also the internal logic for basic system construction of the capital market. In the context of supply-side structural reform in the finance sector, efforts will be made to enhance the supply quality and efficacy for the basic system of the capital market to bring historic opportunities to the quality development of the securities industry.

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(An Qingsong was delivering a keynote speech)

6 top academic papers and research results were presented at the symposium and 3 topics were brought up for guests’ discussion. Gregory Brown and Christian Lundblad, Professors from Kenan-Flagler Business School, University of North Carolina, and Professor Tian Xuan, Associate Dean of PBCSF and Director of Entrepreneurial Finance and Economic Growth Research Center delivered speeches. Zhang Fudong, Assistant Professor of PBCSF and Deputy Director of XIN Real Estate Fintech Research Center joined the symposium and the in-depth and extensive exchanges with scholars domestic and abroad.

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(From left to right: Christian Lundblad, Tian Xuan and Gregory Brown were delivering speeches)

The research symposium aims to offer a connecting, exchange and sharing platform for domestic and international institutional investors with the vision to timely follow up capital market dynamics, to study cutting-edge issues in the industry and to explore the sound and stable development for China’s capital market.