CFA Society Netherlands

A Member of the CFA Institute Global Network of Societies

C​​​FA Society Netherlands
 
Travelling Conference
 
Putting Investors First
Transparency and Fairness: Investment costs examined ​​​​​​
CFA NL ​​​​​
​ 

Fairness and Transparency.  Noble words.  But also the building blocks of a trustworthy and viable investment industry for the long-term.

Also inextricably linked to a trustworthy and sustainable financial industry are knowledge and clarity, and one aspect that continues to evade us is the clarity on costs of investments.  Given the current complexity of investment processes do we really know how much of our investments return is being given up to compensate for the implementation costs? What are the hidden costs of investments and how do we manage them? Finally how do we measure up against others who use, buy and sell the same investment products and services?  These are questions that will be put in the spotlight at this conference, which will help:
asset managers and financial service providers to get a better grip on their production costs
asset owners and end investors to understand what and how much they are paying for their investments
* regulators and oversight bodies to better understand the cost basics in order to recognise abuse occurring in the opaque handling of investment costs

CFA Society Netherlands and CFA Institute are pleased to invite you to join us at a unique gathering on 25 November 2014 where senior investment professionals will discuss the core issues in The Netherlands today, and consider how our investment, marketplace and regulatory communities can work together to deliver solutions that are fit for purpose.

The CFA Travelling Conference on Fairness and Transparency will also take place in Luxembourg (24 November), Brussels (26 November) and Paris (27 November).  Visit the individual websites to find out more.

CFA Luxembourg   CFA Belgium   CFA France Future of finance

 Putting Investors First is part of the CFA Institute Future of Finance initiative.  Find out more.                   

Download the presentations here:

Stephan Horan, CFA Institue and the Future of Finance

Klaus Paesler, Russell Investments and Transparency Risk Control and Return Enhancement

Sikko van Katwijk, KAS BANK and Cost Transparency and Benchmarking

Meet the Speakers 

 Stephen Horan, PhD, CFA

 Stephen Horan

Stephen Horan, PhD, CFA, CIPM Managing Director & Co-Lead, Education, CFA Institute

Global insight, engagement in Europe and the role of Future of Finance in promoting Trust, Transparency and Fairness in financial markets.

Stephen Horan is a managing director and co-leads educational activities at CFA Institute. Prior to joining the organization in 2007, he was a principal of Alesco Advisors LLC, a financial analyst and forensic economist in private practice providing expert witness testimony and preparing economic impact studies, and a professor of finance at St. Bonaventure University. Dr. Horan also served as a buy-side account manager with Manning & Napier Advisors, Inc. and as a sell-side stockbroker with Quick and Reilly, Inc. 

The author or co-author of several books, including Strategic Value Investing: Practical Techniques of Leading Value Investors, The New Wealth Management: A Financial Advisers Guide to Managing and Investing Client Assets, and the Forbes/CFA Institute Investment Course, Dr. Horan has also edited the volume Private Wealth: Wealth Management in Practice. He’s authored dozens of articles in peer-reviewed journals, such as the Financial Analysts Journal, Harvard Business Review Latin America, Journal of Financial Research, Journal of Wealth Management, and Financial Services Review; and has published monographs commissioned by the Research Foundation of CFA Institute. He has received numerous research grants and awards, including the 2012 Graham and Dodd Readers’ Choice Award.

His award-winning research has been profiled in leading practitioner publications, including CFA Digest and Barron’s, as well as the popular press, including the Chicago Tribune and Baltimore Sun. He is a frequent columnist in the Financial Times and is frequently cited in the media, including publications such as The Wall Street Journal, The New York Times, CNBC, Investment News, and Money Magazine. 

Professional Activities
Dr. Horan currently serves on the editorial board of the Journal of Wealth Management and the Financial Services Review. Before joining CFA Institute, Horan was active both locally and nationally with CFA Institute, drafting Research Foundation monographs, serving as a consultant to the Financial Accounting Policy Committee, and serving as Education chair for the CFA Society of Buffalo. He has been a frequent invited speaker at professional, academic, and CFA Institute events.

 Klaus Paesler, CFA

Klaus Paesler Klaus Paesler, CFA, Head of Currency and Overlay Strategy, EMEA, Russell Investments

Presentation:  The hidden costs of investments, and how to manage them.  Effective portfolio implementation and understanding costs, specifically with regards to ongoing portfolio risk management and portfolio change management. 

 Klaus Paesler is Head of Currency and Overlay Strategy for the EMEA region. Based in London, Klaus’ primary responsibilities are to design, implement, and manage portfolios for Russell’s overlay services group. These strategies include currency overlays, cash securitisation, synthetic rebalancing, and options based strategies. In addition, Klaus engages in speaking assignments on exposure management and foreign exchange strategies.

Prior to joining Russell, Klaus was a senior equity portfolio manager with Mellon Capital Management in San Francisco. At Mellon, Klaus was responsible for managing institutional index funds with a variety of strategies including domestic, international, enhanced-index and tax-sensitive. At Mellon, Klaus used various strategies including derivatives to manage daily client cash flows and index rebalances to manage multi-billion dollar institutional portfolios.

Klaus has a Bacherlor’s degree in Finance and Business Management from Portland State University and a Master’s degree in Finance from Golden Gate University in San Francisco. Klaus is also a CFA Charterholder.

 Sikko van Katwijk

Sikko KatwijkSikko van Katwijk, Managing Board, KAS BANK

Presentation:  The impact of cost transparency underestimated? The standardization, reporting and benchmarking of investment costs. An introduction to cost transparency from an investor's perspective and the next step in cost transparency: cost benchmarking.

Sikko van Katwijk (1964) was appointed member of the Managing Board of KAS BANK N.V. on 1 July 2009. As CCO van Katwijk is primarily responsible for marketing, sales and relationship management. From 1989 to 2001 van Katwijk was also employed at KAS BANK, among others as head Institutional Relationship Management and Managing Director of KAS UK Branch. As of 2001, he held several management positions at Citigroup Inc., first in Amsterdam and later in London. In his last position at Citigroup he was responsible for all Investor Sales activities of Global Transaction Services in Europe, the Middle East and Africa.

Sikko van Katwijk studied Public Administration at the Erasmus University in Rotterdam and Business Administration at the Indiana University in Bloomington (USA) and is member of the International Advisory Board of the University of Maastricht (the Netherlands) and the Advisory Council of Partners at Work.

 Eric Veldpaus

Erik Veldpaus Moderator: Eric Veldpaus

Founder and Managing Director of the Institutional Benchmarking Institute (IBI), Strategy Director of Novarca Group

Eric Veldpaus (1963) has been at the epicentre of cost transparency throughout his career. Before his current position at IBI he was a strategist at APG where his focus was on all aspects of cost and cost transparency including relations with auditors and the Dutch Central Bank. Prior to APG, he held senior positions at ABP, Robeco and PWC. Eric is the author of several prominent publications on cost transparency, including the ‘Recommendations on Administrative Costs’ (Aanbevelingen uitvoeringskosten)’ published by the Federation of the Dutch Pension Funds; he is also a lecturer at Nyenrode Business University in the Netherlands. At APG he was member of the Global Advisory Committee of CEM. In 2013 he founded the independent Institutional Benchmarking Institute together with partners Nyenrode and Novarca to further his ambitions in the field of cost reporting. Eric holds a CA degree.

 

Tuesday,25 November 2014

 
Apollolaan 138
1077 BG Amsterdam

 

Program
Registration 14:30
Start of Program 15:00
Drinks and snacks 17:00
End of Program 18:00

Event Sponsor:

Russell Investments 

Partner Sponsors:

KAS Bank 

CFA Institute 

Resources and Tools

Check out the multitude of reports and resources available on the Putting Investors First initiative.  \

Russell Investments Resources:

Russell-Investments-Implementation-Leakage.pdf

Russell Research Still Overpaying for FX.PDF

CFA NL Resources for the Dutch Market:

Handvest voor de Nederlandse Financiele Sector

Charter for the Dutch financial sector

De Rechten van de Belegger

CFA Institute Resources and Tools:

Future of Finance Initiative

Statement of Investor Rights

Global Market Sentiment Survey

CFA/Edelman Investor Trust Survey

The Integrity List