NEWSLETTER
July 2019
Complete our society survey and you
could attend our Gala Forecast Dinner
for free!
Pictured: Professor Meir Statman is the
keynote speaker at the forecast dinner.
His research focuses on behavioral
finance. His most recent book is “Finance
for Normal People: How Investors and
Markets Behave”.
Paul Richardson, CFA Society New Zealand Director, gives an update on his
membership portfolio
Dear members
For CFA charterholders, it’s time for membership renewal. As a charterholder since 1998 I can
attest that the qualification and membership has been a huge benefit to me over the years, for
enhancement of technical skills, global industry networking and the focus on lifting professional
standards by putting investors first.
I’d like to remind members that a large part of the annual fees goes to the Institute. The CFA
Society New Zealand board strive to make your local membership value for money. We
undertake a range of initiatives, including speaker lunches, networking and ethics events;
advocacy functions; candidate support; promoting the CFA designation to employers; and
raising brand awareness through activities such as the conference.
The upcoming CPD offering, using LinkedIn Learning will be another benefit for members.
We’re continuing to grow and it’s great to be celebrating the milestone of 500 members (see
you in Wellington 12 August). The Associate Membership is an important part of this growth
and achieving our mission. More than one third of society members are under the age of 35
and this young membership has huge potential to lift professional standards in New Zealand,
and membership can provide a steppingstone for those wishing to pursue their careers
overseas.
Our survey enables you to voice your thoughts on where you’d like us to head as a society. If
you’re under 35, are we meeting the needs of your demographic? Please take the time to
complete the survey so we have your views on what we do well and what we should be doing
better.
We value your membership and thank you for you supporting CFA Society New Zealand.
Best regards
Paul Richardson, CFA
Please take eight minutes to
tell us what you think
CFA Society NZ member
survey
We're committed to delivering member
value, and we need your input.
Participants go in the draw to attend
the Gala Forecast Dinner and the
masterclasses that precede it. Plus
we'll provide accommodation and a travel
allowance to members outside Auckland.
Thanks if you've done it already - you get
five stars!
Start the member survey now
WHAT'S COMING UP
Early August, direct to all
members
Launch of New Zealand CPD
product
Watch out for information inviting you
to join LinkedIn Learning
Members will have free access to a
curated CFA Society NZ library on
financial information, and thousands of
tutorials and resources on a wide range of
business and personal development
topics.
12 August 2019, Wellington
Celebrating 500 members,
member drinks and networking
Join the CFA Society NZ board to celebrate the
milestone of reaching 500 society members.
Details and register here
24 September, Auckland
Luncheon; Jean Brunel: Goals-
based wealth management and
asset allocation in practice
12-1.30pm, Northern Club, Auckland
We're pleased to welcome back Jean
Brunel, an engaging and interesting
speaker with a global insights and
extensive knowledge.
Find out more / register
5 October
Level 1 exam preparation
programme, Auckland
Candidates can purchase a
comprehensive package that includes 28
hours of live classroom instruction, Kaplan
Schweser study resources and other
benefits.
Classes start 5 October, but students
should sign up early to get access to the
materials. Find out more
21 October, Auckland
Masterclass seminars
These will be held on the day of the
forecast dinner. Each topic will have a
panel of experts, some of these are still
being confirmed.
12.00-2.45pm, Masterclass one
- The acceleration of New Zealand
venture capital industry ambitions
- Is private equity challenging the public
markets?
Find out more / register
3.15-5.15pm, Masterclass two
- Alpha generation in a low interest rate
environment
- Real assets - a class of their own?
Find out more / register
21 October, Auckland
Gala Forecast Dinner, with Meir
Statman on behavioural finance
On the heels of great event last year
(remember it was Halloween - see pic),
we look forward to another fun and
informative night, with good food, wine
and company. As mentioned above Meir
Statman will talk on the popular topic;
behavioural finance. Find out more /
register
WHAT'S BEEN HAPPENING
Derivatives luncheon
Thomas Ciszewski from Sydney, presented to a full room on 24 July. If you would like a
copy of the presentation 'Using derivatives to enhance portfolio returns amid growing
market risk', please email [email protected]
MEMBER PROFILE
JD VanHeerden, CFA
FBP - Quality
Synlait Milk Limited
Synlait Dunsandel
Good news for Cantabrians! CFA
Society NZ is working with JD to
introduce Society Ambassador(s)
for Canterbury. We hope to
have this in place later this year.
What are some of your career highlights so far?
My career has offered me the opportunity to work in a number of industries including the
banking industry, institutional investment and retirement industry, academia, consultancy
and now the dairy industry. Working in the different industries came with the privilege of
visiting and working in a number of countries and with a number of people around the
world. Experiencing the different cultures and seeing so many different places are probably
the biggest highlights of my career so far.
What do you like most about your job/industry?
I love the dynamic nature of the financial world. There is never a dull moment, and you
never stop learning!
What are your interests outside work?
I enjoy most outdoor activities, but specifically mountain biking. The Canterbury area
where I live offers some of the best outdoor activities, and I spent a significant amount of
time exploring the surroundings on my bike. And yes, I’ve got the scars to prove it…
Make a prediction for 2024
During the last few months I had the opportunity to travel across New Zealand to facilitate
Dairy Risk Management workshops. Compared to other big dairy players such as the USA
and UK, New Zealand is still in the starting phase of applying dairy risk management tools.
With the recent increase in attempts to raise awareness and offer educational opportunities
on dairy risk management, I expect that there will be a significant increase in applying
these tools to manage dairy risk on a much bigger scale within the next five years.
SELECTIONS
The latest educational
content from CFA
Institute
July 2019
SELECTIONS SPOTLIGHT
“Investment Professional of the Future,” a new report by CFA Institute, explores how investment industry roles,
skills, and organizational cultures are evolving in the face of disruption. The report is the third installment in a
series that examines the future of the investment industry and the implications for firms and those working in the
industry. Explore the report.
STRATEGIC INSIGHTS AND THOUGHT LEADERSHIP
Adam Tooze: Where Are We Post-Global Financial Crisis?
Julie Hammond, CFA ǀ Enterprising Investor blog
Risk and Investing
Morgan Housel ǀ Take 15 interview ǀ 0.25 CE
Roger G. Ibbotson: The Price of Popularity
Momoe Ikeda-Chelminska ǀ Enterprising Investor blog
Brexit in Flux: Implications, Possibilities, Resolutions
Michala Marcussen, CFA, Thomas Mayer, CFA, and Sir Ivan Rogers ǀ Panel Discussion ǀ 72nd CFA Institute
Annual Conference ǀ 1.75 CE
How to Read Financial News Redux: Process Determines Priorities
Robert J. Martorana, CFA ǀ Enterprising Investor blog
Can Indices Protect against Market Volatility?
Rupert Watts, CFA ǀ Asia-Pacific Research Exchange ǀ 0.5 CE
Rethinking Capitalism: Challenging the Economy and Economic Theory
Mariana Mazzucato ǀ Presentation ǀ 72nd CFA Institute Annual Conference ǀ 1 CE
Green Bonds Pose Challenge to EU Sustainable Finance Initiative
Josina Kamerling ǀ CFA Institute Market Integrity Insights blog
Pathetic Protection: The Elusive Benefits of Protective Puts
Roni Israelov ǀ Journal of Alternative Investments ǀ Summarized in CFA Digest ǀ 0.25 CE
INDUSTRY TRENDS, RESEARCH, AND COMMENTARY
Nuclear Risk and the Financial Markets
David Epstein, CFA ǀ Enterprising Investor blog
Are Passive Funds Really Superior Investments? An Investor Perspective (Original Research Article)
Edwin J. Elton, Martin J. Gruber, and Andre de Souza ǀ CFA Institute Financial Analysts Journal® ǀ 1 CE
Are Passive Funds Really Superior Investments? An Investor Perspective (In Practice Summary)
Phil Davis ǀ Financial Analysts Journal ǀ In Practice Summary ǀ 0.25 CE
AI and the Future: Developments, Ethics, and Financial Transformation
Nick Bostrom, Rumman Chowdhury, and Ophir Gottlieb ǀ Panel Discussion ǀ 72nd CFA Institute Annual
Conference ǀ 1 CE
Investment Management Fees: Beware the Cobra Effect
Peter M.J. Gross ǀ Enterprising Investor blog
Global ETFs: Products and Trends
Deborah A. Fuhr ǀ Presentation ǀ 72nd CFA Institute Annual Conference ǀ 0.75 CE
Uber and Public Capital Markets: Shareholder Rights, Uninformative Prospectus, Weak Post-IPO Performance
Sviatoslav Rosov, CFA ǀ CFA Institute Market Integrity Insights blog
Sustainable Factor Investing: Where Doing Well Meets Doing Good
John Hua Fan and Lachlan Michalski ǀ Asia-Pacific Research Exchange ǀ 1 CE
The Case Against Small Caps
Nicolas Rabener ǀ Enterprising Investor blog
Wisdom of Finance
Mihir Desai ǀ Take 15 interview ǀ 0.25 CE
ETHICS
Ethics in Practice: Performance Reporting. Case and Analysis
Jon Stokes ǀ Market Integrity Insights blog
CAREER
11 Resume Tips: The Perfect Financial Services CV
Paul McCaffrey ǀ Enterprising Investor blog
The Art of Business Influence
Mark Jeffries ǀ Presentation ǀ 72nd CFA Institute Annual Conference ǀ 0.75 CE
Five Ways to Jumpstart Your LinkedIn Profile
April J. Rudin ǀ Enterprising Investor blog
UPCOMING CONFERENCES
4th India Wealth Management Conference
Hosted by CFA Society India ǀ 2 August 2019 ǀ Mumbai, Maharashtra, India
23rd Annual GIPS® Standards Conference
Hosted by CFA Institute and CFA Society Phoenix ǀ 11–12 September 2019 ǀ Scottsdale, Arizona, USA
Women in Investment Management 2019: Opening Doors
Hosted by CFA Institute and CFA Montréal ǀ 18–19 September 2019 ǀ Montréal, QC, Canada
Fixed-Income Management 2019
Hosted by CFA Institute and CFA Society Boston ǀ 17–18 October 2019 ǀ Boston, Massachusetts, USA
Equity Research and Valuation 2019
Hosted by CFA Institute and CFA Society New York ǀ 14–15 November 2019 ǀ New York City, New York, USA