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 info@cfasociety.org.nz

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