Monday, 7 November 2016


Chair’s Opening Comments

CFA Society Netherlands


Welcome Remarks

CFA Institute Board of Governors


Brexit Panel Discussion

Moderator: Liam Halligan
bne-Intellinews and Telegraph

Boris Bernstein, CFA
Deutsche Invest Equity Partners, goetzpartners

Kate Lander, CFA
Chief Learning Officer

Pieter van Putten, CFA
Cassia Capital BV


Transition Break


Opening Address: Capital Markets in the EU─Challenges and Issues

European Securities and Markets Authority

Moderator: Josina Kamerling
Head of Regulatory Outreach, EMEA
CFA Institute

  • How can the Capital Markets Union project develop in the face of Brexit, one of the toughest challenges that the EU has faced?
  • Monitoring leverage and liquidity risk issues in the asset management sector, along with potential changes driven by shadow banking and fintech
  • Transparency in EU bond markets: What are the main implementation issues?
  • Upcoming MiFID II deadlines, and the challenges remaining for stakeholders and regulators working to meet them


Keynote Address: Redesigning Economics to Redesign the World

Nobel Peace Laureate 2006 and Founder
Grameen Bank


Wealth Management: Spending Rules Designed for Lifetime Security and Enjoyment

Former Chief Investment Officer
Barclays Global Investors

  • Use annuity payout rates as spending guide each period—a “virtual” annuity
  • Portfolio risk and return relates to spending risk and return
  • Unlike common “percentage of assets” spending rules, prevents the possibility of ruin


Networking Lunch


The Case for Liquid Alternative Investments

Director of Examinations
CAIA Association

Moderator: David Gonzalvo, CFA
Chief Investment Officer
TRIPLE A Investment Advisors

  • The evolution of liquid alternatives as an asset class
  • The performance of liquid alternatives
  • Future challenges to the development and delivery of liquid alternatives

Alternative Approach Track


Setting a Strategic Investment Policy: Best Practices for Board Members

Mark-Jan Boes
Head of Investment Strategy and Research
ABN AMRO Pension Fund

Moderator: Christian Nana, CFA
Senior Advisor
AIIM – Africa Infrastructure Investment Managers

  • A board of trustees’ alternative approach to decision-making within a pension fund
  • The strategic investment policy as a tool to achieve long-term goals
  • Translating asset/liability management into an understandable process

Long-Term Approach Track


Reverse Stress Testing for Risk Awareness and Hedging

Partner and Chief Risk Officer
Light Sky Macro LP

Moderator: Rani Piputri, CFA
Senior Portfolio Manager
Saemor Capital

  • Why reverse stress testing is information additive
  • Identifying scenarios that exploit the tradeoff between likelihood and severity
  • Risk reduction using reverse stress testing

Technical Approach Track


Transition Break


Personal Development: Practical Strategies for Achieving and Sustaining Peak Performance

Performance Coach to Traders, Fund Managers and Markets Frontline Performers

Moderator: Anne-Katrin Scherer, CFA
Presidents Council Representative, EMEA West
CFA Institute

  • Stress and pressure: Practical tools for developing resilience
  • Feeling well, performing well: The physiological platform, and why well-being matters
  • Enhancing mental and emotional capacity: The latest neuroscience research on emotions and performance

Alternative Approach Track


Why Robo-Advisors Will Save the Investment Industry

Founder and CEO
Nest Wealth

Moderator: Josina Kamerling
Head of Regulatory Outreach, EMEA
CFA Institute

  • The reality of robo-advisors and what they really do
  • 3 things you need to know about how the financial industry thinks about technology
  • Resistance is futile, but the future is different than you think

Technical Approach Track


Megatrends and Long-Term Alpha

Head of Equities

Moderator: Matteo Lombardo, CFA
Portfolio Manager
K Capital Group

  • Identifying companies that successfully address the challenges of socio-demographic, socio-economic, and technological megatrends
  • Using Environmental, Social and Governance (ESG) analysis to define investment opportunities
  • Combining traditional financial analysis with ESG measures to identify sources of sustainable, long-term returns

Long-Term Approach Track


Final Keynote: The Future of the Investment Profession

Founder and Managing Director
Maisonneuve Global Advisors

Via Live Link

  • Challenges and opportunities that investment professionals must meet in the coming decades
  • Ongoing shifts in client demand, market environments, and industry dynamics
  • Developing a framework where investors and asset managers can apply innovation, agility, ethics, and resilience


Evening Social Event

Fifteen Restaurant
Jollemanhof 9
1019 GW Amsterdam

Tuesday, 8 November 2016


Chair’s Opening Comments

CFA Society Netherlands


Opening Keynote: Do Good, Diversify Risks, and Make Money by Revisiting Finance

Managing Director

  • Addressing secular stagnation concerns through financial sector reforms and better allocation of capital
  • Changing focus to combat inflated asset prices and identify the developing world’s economic opportunities and diversification potential
  • Gaining a better understanding of non-OECD countries and an increased capacity for financial intermediation to boost the global economy


Leveraging Fund Flows and Positioning Data in the Investment Process

Director of Quantitative Research
EPFR Global

Moderator: Rani Piputri, CFA
Senior Portfolio Manager
Saemor Capital

  • Filtering out noise and analyzing buyers and sellers: local vs. foreign, active vs. passive, and retail vs. institutional
  • Applying fund flows and positioning data as a discretionary input into the investment process
  • Practical applications for systematic (country, sector, asset class) allocation strategies and stock-level strategies

Technical Approach Track


Generating Returns in a Low Interest Rate World

AQR Capital Management

Moderator: Christian Gattiker, CFA
Head of Research
Bank Julius Baer & Co. Ltd

  • Earn nothing, or buy rich assets? A menu of investment answers to address low expected returns, including harvesting factor/style premia
  • The robust performance of market-neutral style premia across macro environments — even constrained investors can apply long-only style tilts in equity and bond markets
  • A cautious view of contrarian market timing and factor timing strategies, given concerns about rich asset classes and crowded factors

Long-Term Approach Track


Is China Slipping Toward a Japanese Sinkhole?

Senior Economist
Lombard Street Research

Moderator: Alida Carcano, CFA
Partner and CEO
Valeur Investments

  • The dangers of continuing debt spirals
  • How zombie firms are preventing successful rebalancing
  • Why China’s economy needs a lower RMB, and will likely get it
  • Could Abenomics derail, throwing a spanner in the works?

Alternative Approach Track


Fintech: Embracing a New Era for Client Service

Co-founder and CEO




Final Keynote: Unorchestrated Orchestrator: The Economics of Good and Evil

Chief Macroeconomic Strategist

  • Is economics becoming an arbiter of values, “the most ecumenical global religion”?
  • What are the social risks to societies that view economic problems through overly mathematical and analytic lenses?
  • Could economic discourse dismantle European integration?


Closing Comments

Managing Director, Europe, Middle East, and Africa
CFA Institute


Networking Lunch