The active vs. passive debate continues to be one of the contentious topics in the investment management industry. There can be little doubt that it has become more difficult for active managers to consistently generate alpha and justify what can be a substantial fee premium. But many investors and managers continue to believe in the promise of active management. Adding to the complexity, factor-based strategies, also known as smart beta, are blurring the lines between active & passive. Come hear from a collection of the foremost experts on this topic as they discuss the future of alpha, beta, and all things in-between.
How has Dr. Eugene Fama's efficient market hypothesis framed the active vs. passive debate?
What does current research tell us about asset classes and geographies where active management has done well or struggled?
How have recent fund flows into passive strategies impacted performance and what trends do our panelists see moving forward?
What framework should investors consider when thinking about how factor-based or "smart beta" strategies can fit into their portfolios? Are they active, passive, or somewhere in-between?
How do leading investors think about the right blend of active and passive management and implement these ideas in their portfolios?
KEYNOTE SPEAKER: Eugene F. Fama - Robert R. McCormick Distinguished Service Professor of Finance at the University of Chicago Booth School of Business, 2013 Nobel Laureate in Economic Sciences
KEYNOTE MODERATOR: Bob Litterman - Chairman, Risk Committee, and Founding Partner, Kepos Capital
PANEL 1: TRENDS AND INSIGHTS
Research supporting passive and active management, fund flows and its impact on performance
Moderator: Nat Kellogg, CFA - Director of Manager Search, Managing Partner, Marquette Associates
Panelists: Joel M. Dickson, Ph.D. - Global Head of Investment Research and Development and Principal, Investment Strategy Group, Vanguard Brett Hammond, Ph.D. - Research Leader at the American Funds, Capital Group Aye Soe, CFA - Head of North America Research & Design, S&P Dow Jones Indices
PANEL 2: CASE STUDIES
Investor considerations, asset allocation, finding the right mix of active, passive, and smart beta
Moderator: Jason Stoneberg, CFA - Director, Research & Product Development of ETF Research, PowerShares by Invesco
*Special Notes Regarding Fees:
Credit card required to guarantee ALL reservations. Day-of-event registrations accepted on-site only if applicable and space available. There is a $5 surcharge for walk-ins. Visa, MasterCard, American Express, Discover and Diners Club are accepted. Cancellations accepted until 5:00 pm, May 30th.
Members of any CFA society may attend at the CFA Society Chicago member rate. If you are only a member of CFA Institute, you do not qualify for the society member rate.
Content shared during CFA Society Chicago programs is not, and nothing in it should be construed as, an offer, invitation or recommendation of any specific financial services company or professional, or an offer, invitation or recommendation to sell, or a solicitation of an offer to buy, any securities in any jurisdiction. By registering for and attending this event, you acknowledge that any photographs that may be taken are the property of CFA Society Chicago and give your consent to their use in CFA Society Chicago's online and print business communications and marketing.
CFA Institute does not endorse, promote, review or warrant the accuracy of the products or services offered by the CFA Society Chicago or verify or endorse the pass rates claimed by the CFA Society Chicago. CFA, Chartered Financial Analyst, and the CFA Institute Logo, are just a few of the trademarks owned by CFA Institute.
CFA Society Chicago | 33 N. LaSalle Street, Suite 910 | Chicago, IL 60602 | firstname.lastname@example.org