Introduction of MPT Forum
In 1989, ‘’MPT Applied Research Group ‘’ was founded by 28 corporations including financial institutions and volunteer financial scholars to research and apply practically Modern portfolio theory (MPT) developed in the USA. In 1990, Markowitz, Sharpe and Miller won the Nobel Prize in Economics as financial researcher. It proved the importance of financial research in economics. In that sense, it was an important news for us aim to cultivate Japanese financial theory.
Investors in Japan crave new financial products and service which can correspond to risk and diversifying needs like maximizing their returns in modern society that has grown more sophisticated and complicated by IT Revolution in liberalization, internationalization and securitization.
In 1992, ‘’ MPT forum ’’ was established anew and started to administer organization by TOYO KEIZAI INC participating in. We hold research presentation 10 times a year. (2 theme in once: Please refer to regular lecture record when you need to check previous content of lecture.) These meetings shall be held on the first day of Thursday of every month except for January and August. And we invite distinguished scholars and practical persons to have an international seminar at the beginning of December. This event has earned a good reputation. We started public papers named ‘’Modern Finance’’ in 1997 with Nippon Finance Association twice a year that had taken the place of former public lecture yearly papers.
Selecting research theme and regular research meeting is managed among our members based on principles of spontaneous. Our purpose is that to have a relationship between learned society and business society, self-improvement of our member and applying theory to business. We hope that our research contributes on developing the healthy financial and capital markets in the ever-changing and turbulent times. We are looking forward to many people taking this opportunity to attend.
Toshiki Honda
The chairman of MPT forum
The aim of establishment of this forum
New trends in the financial and capital market changing in liberalization, internationalization, securitization and IT Revolution, investors in Japan look forward to appearing financial commodity that can control financial risk appropriately and respond to diversifying needs in addition to maximizing return. On the other hand, Modern Portfolio Theory (MPT) developed in the USA is getting essential owing to its excellent applicability in practical asset investment.
‘’MPT Applied Research Group’’, secretariat shall be provided JAPAN TECHNOLOGY TRANSFER ASSOCIATION, held regular research meeting and symposium with 41 corporate members over 30 times in 3 years. Such a series of actions contribute on technical exchanges of applying MPT among members. As described above, status of financial and capital markets are so severe that expectations toward us are heightening. In order to live up to investor’s expectations, we decided to restart as a new organization to enhance communication between researchers.
‘’MPT forum’’, secretariat shall be provided TOYO KEIZAI INC., intend to strengthen conventional activity of research and development of metrological operation method and feedback about result of mutual discussion by specialists to members. In addition, we also intend to publish yearly press.
(Written on March in 1992)
Research theme and management method
<1> Market and assets as subjects of study are centered on stock and credit including forward and option transaction in Japan and the USA.
<2> Research theme is limited to applied technical research based on MPT and shall be selected to feed back to members of MPT forum. Research of theory is regarded as merely support.
<3> Members should contribute on management and development of MPT forum initiatively within the allowable range to achieve our aim of intercommunication beyond affiliated organization. Members are obligated to declare own research when the board governors require.
<4> We willingly arrange opportunities of discussion with expert in the USA and Europe to follow MPT theoretical research and applied research toward practices.
<5> Program committee mainly composed of the board member decide the theme of regular workshop and speaker inside and outside.
<6> Main research theme is as follows.
(1)Practical management method and technical research including stock, credit, and asset mix model
(2)Latest papers about MPT theory and practice
Activity
<1> Research and study prescribed in ‘’MPT Applied Research Group ‘’
<2> Collecting information within and without to analyze and assess
<3> Holding of lecture
<4> Publishing organ
<5> Interaction with relevant organs domestically and overseas
<6> Various other things (Never commence profit-making business)
Outline of regulations
Members:
Corporates registered as member in good standings
Special members:
Scholars invited in order to transfer of technology
Annual membership fees:
300,000 yen (exclusive of tax)
Contingent expenses:
We collect necessary actual expenses when board governors approve.
Board of governors:
Board of governors: composed of the chairman, the vice chairman and governors; manufacture business project, cash budget and cash report according to discussion about fundamental issue of workshop management.
Board of auditors:
Board of auditors are selected 2 persons in charge by election
Workshop:
Regular workshop are held 10 times a year as a matter of principle. If necessary, we establish subcomittee meeting to research specialized matters.
Entrance requirement
<1> Please mail entrance application to the secretariat after filling out necessary items.
Special members:
Scholars invited in order to transfer of technology
<2> Please register one of members as representative. We will contact the representative when needed.
<3> According to the contents, anyone in members can participate in regular workshop up to 2 persons per 1 member, provided that members submit the name of participants by fax in advance.
<4> For details, please consult the secretariat below.
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TOYO KEIZAI INC.
Data Sales Department
MPT forum secretariat
1-2-1, NIHONBASHI HONGOKU-CHO, CHUO-KU, TOKYO 103-8345
TEL.+81-3-3246-5580
FAX.+81-3-3242-4067
E-mail:mpt@toyokeizai.co.jp
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