Tuesday, Dec. 12, 2017
Queen City Club
331 East Fourth Street
Cincinnati, OH 45202
Non Members: $25.00
NEW & IMPROVED REGISTRATION!
Deadline to Register:
Friday, December 8th
Note: Refunds will not be given for cancellations received after the deadline. No shows will be billed.
If you have trouble registering online or would like to register a guest, please contact Misty at 513-554-3067 or email at
LUNCHEON MEETING INVITATION
Tuesday, Dec. 12, 2017
Incorporating Marketplace Lending into an Institutional Portfolio Framework
We invite you to join us for our monthly luncheon on Tuesday, December 12th at the Queen City Club at 12:00 p.m. The presentation will be given by Andrew Kerai, CFA and Jay Nolan, CAIA of RiverNorth Capital Management.
We look forward to seeing you there,
Board of Directors
CFA Society of Cincinnati
About the Presentation
Online origination of consumer and small business loans has seen remarkable growth over the past 5 years. What was once truly a peer-to-peer transaction has morphed into an institutional asset class. According to RiverNorth's research, marketplace lenders originated ~$27 billion of consumer and small business loans in 2016. While this represents a 92% compound annual growth rate from 2010, it is still less than 2% of total originations. Please join RiverNorth's Andrew Kerai and Jay Nolan as they present a brief history of Marketplace Lending, the investment characteristics of the asset class, and their thoughts towards the risks and opportunities for the future.
|About the Speakers|
Andrew Kerai, CFA joined RiverNorth in 2015 and serves as Senior Credit Strategist. Andrew works with the firm's marketplace lending investment team in analyzing credit performance and portfolio positioning within the strategy. He is responsible for conducting research across credit markets, including the analysis of factors impacting both corporate and consumer credit. Prior to joining RiverNorth, Andrew was Lead Portfolio Manager of an actively managed open-end mutual fund which invested in the equity securities of publicly-traded credit-focused investment funds, including business development companies (BDCs). Andrew was also an equity research analyst covering consumer and commercial lenders, credit card issuers, middle market commercial lenders, debt recovery companies and business development companies. He began his investment career as a portfolio analyst within high yield bonds and leveraged loans at Prudential Investments. Andrew graduated Summa Cum Laude from American University with a dual major in international finance and accounting. He is a CFA Charterholder.
Jay Nolan, CAIA joined RiverNorth in 2013 and serves as a member of the portfolio specialist team. Jay is responsible for supporting the investment management team, serving as a liaison between the portfolio managers and the firm's investor base. Prior to joining RiverNorth, Jay was as an Assistant Vice President and Senior Research Analyst at Pitcairn, a multi-family office based in Philadelphia. Jay managed investment models of liquid hedge and real asset strategies, performed investment and operational due diligence for various hedge fund managers and helped to expand the firm's open architecture program. Prior to Pitcairn, Jay spent six years as an Investment Analyst at Glenmede Trust after beginning his professional career at Cambridge Associates. Jay graduated from James Madison University with a B.B.A in Finance and earned his MBA, with a concentration in Finance, from Emory University. Jay also holds the CAIA designation.