저자: 미상 · 외국인
요약 보기
실물경제 성장과 자본 형성의 선순환을 강조하며, 향후 성장 영역으로 리츠(REITs)와 인프라투자신탁(InvIT), 지방채(Municipal bonds) 생태계 확대를 제시. 리츠·인프라 시장 총가치가 GDP 1배 수준까지 커질 수 있다고 주장하며, 소액 투자자의 분할 소유(fractional ownership) 참여를 위한 규제 기반 마련을 강조.
다듬은 글
so I think this says it all and um I always like to emphasize that the reason I'm very fond of this particular slide I use it all the time is because somehow this connotes to me the physicality of our nation and the growth of the real economy you know there's actual economic activity happening in villages in factories in towns and cities and this sort of manifests that picture to me in my mind that where there is growth there is capital formation where there is capital formation there is growth so it's a wonderful virtual cycle and we are today as a nation in that wonderful place where one is reinforcing the other now the question is page down also not now that maybe that's what they did oh yeah okay thank you so you can so I want to focus um you know a lot more today on a certain group of Assets in our speech I think that you know very often when I speak particularly to youngsters and it's interesting that they ask me a question because they say we want to be where the puck will be right they know that their parents and their so-called seniors have been part of a previous Revolution they have taken the benefits of high growth of certain sectors in the previous generation now the youngsters today are interested in what is going to be the high growth area of the future they want to know where the Pu will be so that they position themselves at a time and place where they will have a Tailwind to really help them grow as well so here's my answer to that question that are answer to that question in my view is weats andits and uni bonds now why is this within SEI we've done a very simple exercise sort of like a back of the envelope exercise where we asked ourselves how big can this Market be and we reached the conclusion that just as our Equity markets today are at roughly one time G one time GDP right the entire Market Gap is about one time GDP we believe that the total value of our re init and uni bonds ecosystem can be another onetime GDP so that is the opportunity for growth which is available to us as a nation now why do we believe this in a very simple sort of way the logic is if you look at all the goods and services that are produced by the corporate sector today because that is what manifests itself in the form of the GDP linked Market market value right now if you look at that and you look at in parallel what is the value of the entire real estate infrastructure and Municipal services that are provided in the country where is the balance So in theory the value of beat inits IM mun bonds will far exceed what is today the value of goods and services produced by the corporate sector now in this context what is it that we as SEI see as the building blocks and that's why again I love this little slide because every business every ecosystem has building blocks and it's the regulator's job to ensure that those building blocks are in place to facilitate that growth so what is it that we have put in place the most important thing we realized is that the strength of our Equity markets comes from our retail investors not just directly their participation in the stock market and holding shares of companies but through mutual funds through insurance through the Pension funds and so on now what this reflects is really fractional ownership of companies right that's what shareholding is it is fractional ownership of companies so in the similar manner fractional ownership of real estate and fractional ownership of infrastructure is where the strength of the country will diee so what have we done to facilitate this and to put the building blocks in place to facilitate that growth the first thing is for us as a regulator to get Comfort to go to retail investors to for us to go to our parents to our in-laws to our uncles to our aunts to our nieces and NE
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