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 ESG, Biodiversity, Inflation, Biases & the Rise of China

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 Rising investment risks dominate Nordic Investment Conference 2022

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With inflation rates not seen in decades, soaring energy prices, geopolitical disputes, and rapid climate changes as the backdrop for this year's Nordic Investment Conference, investors and investment managers seek to navigate the plethora of risks coming our way the coming decade.

The Nordic Investment Conference is a yearly event, and its purpose is to discuss current and relevant topics for the investment profession. It brings together local expertise and global perspectives.

"This year's conference draws a lot of interesting perspectives on relevant topics that investment management professionals must deal with the coming years. We were very pleased to have prominent Nordic and international speakers at the stage to share their expertise on some of the most pressing issues facing the financial industry, such as inflation, sustainability, and macroeconomic uncertainty," said Erlend Fredriksen, President of CFA Society Norway. 

 Members expect global growth to continue, US stocks seen lagging

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A majority of portfolio managers, analysts and company representatives in CFA Society Norway and NFF expect key stock indices in Europe and Asia will rise 5 to 10 percent in 2022 due to global economic growth, according to a forecast survey among its members.

Almost two-thirds of the respondents expect continued growth for global stock markets in 2022, while the rest expect a correction.

U.S stocks are seen to be hit hardest by those who forecast a correction, with one-third of respondents predicting the S&P 500 Index down five to ten percent in 2022, led by tech and consumer goods companies. 

More than half of the respondents see the Oslo Stock Exchange Benchmark Index (OSEBX) up five to ten percentThe remaining respondents are split between being more bullish (OSEBX up more than 10%) and considerably more bearish (OSEBX down 5-10%).

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 Erlend Fredriksen elected President of CFA Society Norway, new board established

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Erlend Fredriksen, CFA and Portfolio Manager at DNB, was elected new President of CFA Society Norway for a period of two years at the Annual General Meeting on 20 September.

Fredriksen has served as a board member for the past two year as a member of the Event Committee, and replaces Isabelle Juillard Thompsen who ended her two-year term as President.

«I am extremely honoured and will work hard to ensure that the CFA designation gains more relevance in Norway, and do my best to continue the great work of my predecessors in growing our society and accomplish its goals," says Fredriksen.

 Sustainable investing

Sustainable Investing and Inv management.jpgThe future of sustainable investing requires balancing goals and interests of stakeholders. It is critical to the sustainability of investing, serving society by improving long-term outcomes.

The future of sustainable investing is in the balance. It involves balancing financial and extra-financial considerations, balancing the short term and long term to ensure that short-term goals do not compromise long-term goals, and balancing stakeholder interests and seeking fair outcomes for all.

Although the future of sustainable investing includes many unknowns, three important tenets where sustainable investing goes further than its forerunners.

 CFA Society Norway launches Certificate in ESG Investing

CFA_ESG_Email_Banner_Society.jpgNew global education program sets standard, enabling investment practitioners to analyse and integrate ESG factors in their daily practice

CFA Society Norway, the local society of investment professionals, announces today that it will market the CFA Certificate in ESG Investing in Norway. The education program represents a new global qualification for ESG in investment management; it aims to strengthen market integrity by delivering the benchmark knowledge and skills required by investment professionals to integrate environmental, social and governance (ESG) factors into the investment process.

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 CFA Society Norway joins Women In Investment Management Initiative

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CFA Society Norway joins the CFA Institute Women In Investment Management (WIM) Initiative to demonstrate the finance community's commitment to inclusion and equity.

CFA Societies and FPA chapters around the world have joined efforts to share goals of inclusion and diversity in capitalism. The partnership currently comprises 68 societies across the US, Canada, Caribbean, EMEA and Latin America, representing ~60,000 finance professionals and approximately 40 percent of the global CFA Society network. 

"As the finance industry continues to evolve and change rapidly, there is a growing demand for new capabilities, more diversity and inclusive workforce culture. The WIM initiative is an important catalyst to drive inclusion and diversity to improve business performance", says Isabelle Juillard Thompsen, CFA and President of CFA Society Norway.

 CFA Society Norway and the Norwegian Society of Financial Analysts sign collaboration agreement

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CFA Society Norway and the Norwegian Society of Financial Analysts sign a collaboration agreement to create a hub for competence and learning for finance professionals in Norway.

Both organizations work for the common goal of high professional standards, capital market integrity and promote excellence of practice for well-functioning capital markets.

“Together, we wish to collaborate on advocacy work in the financial markets and engaging with the core investment management industry to advance ethics, market integrity, and professional standards of practice,” says Isabelle Juillard Thompsen, CFA, President of CFA Society Norway

 Low interest rates and ESG dominates discussions at the 2nd Nordic Investment Conference

NIC post.jpg18 March 2021 – Against the backdrop of a global pandemic and over a decade of low interest rates, discussions at the 2nd Nordic Investment Conference held over the last two days (16-17 March) underlined the point that financial professionals must not be under any illusion that the status quo will be maintained. Portfolio managers and central banks will need to be prepared to rethink their strategies and priorities. 

The conference also emphasized that investors and policymakers alike must accommodate ESG and sustainability risks in their decision frameworks and explored how the fixed-income market is currently lagging the equity market in pricing climate risk.

 CFA Institute Research Challenge 2021 – local final

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CFA Society Norway is hosting the Danish-Norwegian final of the CFA Institute Research Challenge on 3 March, where finance students from Norwegian Business Schools will present their equity research and recommendation of Vestas in front of a jury of practicing professionals.

The winning team will proceed to the regional EMEA final on 13-14 April where the two best teams will compete for the top five in the global final on 22 April

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 Nordic Investment Conference 2021

Nordic Invest Conf LinkedIn v1.JPGCFA Society Norway is hosting this year's Nordic investment conference in partnership with CFA Society Finland, CFA Society Denmark/The Danish Finance Society and CFA Society Sweden. The theme of the conference is investing in low interest rate environment and ESG's impact on the investment profession. 

What deliberations must a portfolio manager make when facing portfolio management decisions in today's interest rate environment?What considerations should be when venturing into the world of sustainable investing? And how to integrate sustainable investing into your investment process?

 Nordic high yield bond market in recovery after deterioration in 2020

Market forecast survey.jpgMarket liquidity and investor appetite for Nordic high yield bonds are slowly returning after a complete deterioration last year, due to the weak global economy caused by the Covid-19 pandemic and collapse in the oil price, DNB Markets credit strategist Ole André Kjennerud told a CFA Society Norway webinar.

34 CFA members and candidates had signed up to hear Kjennerud and DNB Markets' analysis of how the bond market collapsed during the global lockdown in March 2020, causing record high spreads and hurting companies in need of financing.

"The entire market dried up within a few weeks. Not just the high yield market, but the entire bond market froze», Kjennerud said. 

 CFA Society Norway made co-sponsor to promote GIPS

CFASN GIPS.jpgRapidly changing financial markets, globalized investment processes, and increased competition among investment management firms, all demonstrate the need to standardize the calculation and presentation of investment performance.

Organizations that adhere to the 2020 global investment performance standards (GIPS) help assure investors and beneficiaries that the firm's and the asset owner's investment performance is complete and fairly presented.

Earlier this year, CFA Society Norway was named co-sponsors of the Global Investment Performance Standards (GIPS) in Norway together with the Norwegian Society of Financial analyst (NFF). 

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 Norway ranks eight in CFA Institute sponsored Mercer Global pension index

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Norway's retirement income system is ranked as number eight amongst 39 different systems globally, according to The Mercer CFA Institute Global Pension index 2020.

CFA Institute is for the first time this year the main sponsor of the Mercer Global Pension Index, which benchmarks each retirement income system using more than 50 indicators ranging from benefits, to system design, from to demography to government regulations.

The Norwegian index value remains unchanged from 2019 to 2020 despite small movements in each of the three sub-indexes, which are used to calculate the overall value in the annual pension systems comparison.

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