Did you know? Refresher Readings are designed to help CFA charterholders refresh their understanding of concepts they learned as a candidate and to keep current on the evolution of content in the CFA Program curriculum. Click here to find out more
UPCOMING EVENTS Lunch Time Presentation | Liquidity in Equity Markets: Characteristics, Dynamics, and Implications for Market Quality Key Speaker: Svi Rosov, CFA A new study, Liquidity in Equity Markets: Characteristics, Dynamics, and Implications for Market Quality, finds that the structure of modern equity markets offers incentives for high frequency traders (HFTs) to divert their trading to dark venues during stable market conditions, before switching to lit markets just as prices begin to move. This often leaves investors using limit orders on public venues on the wrong side of the market – the so-called “adverse selection” problem. Come along to what promises to be an insightful lunchtime presentation and find out more. Date: Thursday, 2 June, 2016 Where: KPMG, Ground Floor, 147 Collins Street, Melbourne Time: 12.30pm - 2.00pm (lunch included) Cost: $15 members, $25 Q Group/Actuarial and $35 nonmembers RSVP: Monday, 1 June, 2016 Click here for more details and to register Webinar | CFA Institute Pension Trustee Code of Conduct 07 June 2016 CFA Institute will present a live,
Putting Investors First Month Each May, CFA Institute members join together to build awareness around the importance of putting investors first. By supportingPutting Investors First Month, we want to inspire our community to make a real impact and foster a market environment where both investment professionals and investors can thrive. Click here for more details
CFA Society Melbourne's James Harman Featured In CIO 40's Under Forty CFA Society Melbourne is proud to report that our very own James Harman has been featured in the Chief Investment Officer's 2016 Top 40 Under Forty. Click here to view the article
case-based ethical decisionmaking webinar for pension trustees. It aims to inform participants of the ethical principles applicable to those responsible for overseeing pension-fund investing, focusing on the CFA Institute Pension Trustee Code of Conduct. The webinar will include a facilitated discussion of several case studies involving real-life situations, with the opportunity for participants to vote on the appropriate conduct. Date: Tuesday, 07 June 2016 Time: 1:00 - 2:30pm ET (Convert 1:00pm ET to your time zone) Registration: Free CE Credits: 1.5 (including 1.5 SER credits) Click here for more details and to register Webcast | Non-GAAP Measures 08 June 2016 What’s behind companies increasingly reporting results on a non-GAAP basis? Non-GAAP (Generally Accepted Accounting Principles) measures such as EBITDA seem to be deeply ingrained within the communication of companies’ performance. These measures are often seen as a way of conveying performance through the ‘eyes of management’. Yet many investors often articulate worries about the purpose and pervasiveness of these measures. Find out more in this thoughtprovoking 1 hour webcast hosted by CFA Institute and earn 1 CE credit. Date: Wednesday, 08 June 2016 Time: 10:00 - 11:00 am Eastern Daylight Time (Convert 10:00 am ET to your time zone) Cost: Free CE Credits: 1.5 (including 1.5 SER credits) Click here for more details and to register Social Event | CFA Society Melbourne Quarterly Social & Post-Exam Drinks - 2016 09 June 2016
Public Trust in Financial Services is Returning But We Can't Be Complacent Paul Smith, President and CEO of CFA Institute Source: The Telegraph, 29 March 2016 "My good opinion once lost is lost forever.” This line, one of the most famous in the Jane Austen canon, could be easily ascribed to the British public and its view of the UK’s financial services institutions. The industry has struggled to regain trust among policymakers, the media and the wider public ever since the financial crisis of 2008, a struggle that may at times have seemed Sisyphean to management teams. The negative headlines over mis-selling scandals, rate rigging and “fat cat bonuses” have helped bring the wider financial services sector into disrepute. But while the asset management profession has not been immune from censure, particularly around transparency and fees, there is growing recognition that they serve a different purpose to banks, and, crucially, trust between asset manager and investor is rising. Click here to read the rest of the article
The Board of CFA Society Melbourne invites you to relax, unwind and join us for social drinks to network with other CFAM members, charterholders and candidates. Date: Thursday, 09 June 2016 Time: 05:30pm - 07:30pm Venue: Ra function room @ Collins Quarter, 86A Collins Street, Melbourne 3000 Directions: Enter CQ, walk to the courtyard at the back and go up the stairs to Ra function room Cost: Free to members of the CFA Society Melbourne, $20 for non members and candidates (who are not a member) RSVP: Tuesday, 7 June, 2016
CFA Australia Forecasting Dinner Save the Date - Thursday, 15 September 2016 CFA Australia’s 2016 Forecasting Dinner will be held on Thursday, 15 September 2016. Our keynote speaker will be Clifford S. Asness, Ph.D., Founder, Managing Principal and Chief Investment Officer at AQR Capital Management in the US. Stay tuned for further details.
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CFA Candidate Education Update Best Wishes to all CFA Candidates who will be sitting their CFA Exams for Levels I, II or III on Saturday 04 June 2016. CFA Review Course - Megan Talmage, CFA The CFA Review Course for Levels I and II was held on the 7th
There will be canapés, bar food and a bar tab for CFA Society of Melbourne members.
and 14th of May. Over 70 people attended the course over the two days, held at
Click here to register About the Sponsor: FactSet Research Systems Inc. is a global financial data and software company that engages in the provision of financial information and analytical applications. It offers equity, portfolio, quantitative, risk, fixed income, market, and deal analytics for buy-side and sell-side investment professionals. The company provides integrated and intelligent financial solutions to support various user workflows across: asset management, wealth, M&A, advisory, sales and trading, hedge funds, private equity, sovereign and pension/superannuation funds. It operates through the following geographical segments: U.S., Europe, and Asia Pacific. The company was founded in 1978 and has been publicly listed since 1996. FactSet has operated in Sydney, Australia since 1998 servicing the Aus & NZ region, and in 2016 recently opened its second office in Melbourne to continue the growth
Monash University in Caulfield. A variety of topics were covered from the Level I and II curricula, taught by industry practitioners and CFA charterholders. The sessions were interactive, as seen in the image where students are acting out an arbitrage opportunity. A big thank you to the lecturers and volunteers for contributing their time and expertise to the course. We welcome any feedback or suggestions to continue to improve the review course. Please send us your thoughts and any other queries
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December 2016 CFA Level I Exam Registration Registration for the December 2016 CFA Exam (Level I only) is now open.
Standard registration fee: USD 860 (ends 17 August 2016) Late registration fee: USD 1280 (ends 14 September 2016)
View the fee schedule and register now
and local support for the Melbourne client base.
CFA Institute - Asia-Pacific Research Exchange (ARX)
http://www.factset.com/
By: Asjeet S. Lamba Recently launched in March by CFA Institute, the Asia-Pacific Research Exchange (ARX) is a new research platform for the Asia-Pacific region. The main focus of the platform is to engage with, and inform, the practitioner (and
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The ARX is seeking thought leadership material in the form of journal articles, research papers, presentations, opinion pieces, research critiques, etc.The scope is broad in the sense that we're looking for material that you think would be relevant to the Asia-Pacific community, even if the material itself may be related to a market/area outside this region.
SUBSCRIBE Creating an account on ARX is as straightforward as uploading content. Any Your friends and colleagues are most welcome tosubscribe to the CFA Society Melbourne Newsletter
material uploaded is considered as being "posted", rather than "published" so its copyright remains with you. A minor caveat applies to uploading published papers for which you would need to check the relevant journal's copyright policy.
CFA Australia @CFASocietiesAus 22/05/2016 A top-down approach to bottom-up stock picking: #CFAinvesthttp://cfa.is/1TFyh01 @advisorca CFA Australia @CFASocietiesAus 20/05/2016 2 ways to enhance #portfolios cfa.is/1Oo1ZFk@advisorca #CFAInvest CFA Australia @CFASocietiesAus 19/05/2016 The Art and Science of Contrarian Intrinsic Value #Investing by@Diana_Britton cfa.is/1VSoBpk via @wealth_mgmt
CFA Society Melbourne Contact Information Website: http://www.cfa-melbourne.com.au/ Newsletter:
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