John Fan’s Post

Friday the 26 of January we will hold an event dedicated to the transition of alternative investments under the Dutch Pension Reform, to explore the far-reaching effects of the reform on alternative investments and discover insights on navigating this evolving landscape. Topics include portfolio construction, valuation, and liquidity considerations particularly relevant for alternative investments. Members of the CFA Society Netherlands working group (represented by Jeroen Roskam, CFA and Jaymi Been) as well as Ludovic Phalippou (Professor at Oxford University) will share their views with our co-hosts Brian Velky, CFA, CRE, MAI (MD SitusAMC) and Sara Shean, CFP® (Managing Director at PGIM and leadership team member of the Investment and Policy and Design Committee of the Defined Contribution Institutional Investment Association (DCIIA) in the United States). This event will provide attendees with the opportunity to find out how various fiduciary managers, asset managers and legal experts are in the process of preparing the investments in alternatives and working across areas like portfolio construction, liquidity and valuation to design and implement innovative and smart solutions, where they can leverage upon the input of the working group, academic expertise as well as experiences from the DC market in the United States. Please see for further information and registration details: Place: Rosarium, Amstelpark 1, Amsterdam Date: January 26th 2024 Programme: 10.0 – 10.30 Registration 10.30 – 12.30 Presentations 12.30 – Informal lunch Registration and more info at https://lnkd.in/eDZPhDVK CFA Society Netherlands #alternativeinvestments #pensionreform #dutchpensionreform #publicmarkets #event #cfa #cfasocietyNL #RBA #ESG #assetmanagement #investmentmanagement #portfolio #performance #professionallearning

LAST CALL: This Friday we hold an event dedicated to the transition of alternative investments under the Dutch Pension Reform, to explore the far-reaching effects of the reform on alternative investments and discover insights on navigating this evolving landscape. Topics include portfolio construction, valuation, and liquidity considerations particularly relevant for alternative investments. Members of the CFA Society Netherlands working group (represented by Jeroen Roskam, CFA and Jaymi Been) as well as Ludovic Phalippou (Professor at Oxford University) will share their views with our co-hosts Brian Velky, CFA, CRE, MAI (MD SitusAMC) and Sara Shean, CFP® (Managing Director at PGIM and leadership team member of the Investment and Policy and Design Committee of the Defined Contribution Institutional Investment Association (DCIIA) in the United States). This event will provide attendees with the opportunity to find out how various fiduciary managers, asset managers and legal experts are in the process of preparing the investments in alternatives and working across areas like portfolio construction, liquidity and valuation to design and implement innovative and smart solutions, where they can leverage upon the input of the working group, academic expertise as well as experiences from the DC market in the United States. Please see for further information and registration details: Place: Rosarium, Amstelpark 1, Amsterdam Date: January 26th 2024 Program: 10.0 – 10.30 Registration 10.30 – 12.30 Presentations 12.30 – Informal lunch Registration and more info at https://lnkd.in/eDZPhDVK CFA Society Netherlands #assetmanagement #investmentmanagement #portfolio #performance #professionallearning #alternativeinvestments #pensionreform #dutchpensionreform #publicmarkets #event #cfa #cfasocietyNL #RBA #ESG

Investing for Canadian Beginners

"Don't let the perfect be the enemy of the good." This has become my motto and heard a more rustic version in a previous professional life--when I was a winemaker, my boss used to say, "Good enough for who it's for." The bad grammar on that still sticks in my craw, but the point is well taken. To this end, one of the research briefs at the Defined Contribution Institutional Investment Association (DCIIA) Academic Forum in New York arrives at a similar conclusion in relation to investment choices that help keep plan participants invested in the market in the face of uncertainty. Michael Finke presented a just-over-five-minute summary on behalf of co-authors David Blanchett and Zhikun Liu, Ph.D., CFP® Even though the best outcomes came from participants who had advice through a managed account, those with straightforward target date funds were less likely to panic. The industry is moving towards greater customization, but it's also heartening to see that approximate measures make a difference. I've linked the full paper below, but John Manganaro summarized that and a lot of other research tidbits for ThinkAdvisor here: https://lnkd.in/gxQcExiQ https://lnkd.in/g4hkYKCW #AnnuityYoda #research #401k #participants #QDIA The American College of Financial Services PGIM Texas Tech University Toland Consulting, LLC

Jonathan Kearns' flags institutional investors are generating ⚡ returns by investing in alternatives, accessing the return premium offered for illiquidity "𝘓𝘢𝘳𝘨𝘦...𝘪𝘯𝘷𝘦𝘴𝘵𝘰𝘳𝘴 𝘩𝘢𝘷𝘦 𝘤𝘭𝘦𝘢𝘳𝘭𝘺 𝘣𝘦𝘯𝘦𝘧𝘪𝘵𝘦𝘥 𝘧𝘳𝘰𝘮...𝘢𝘴𝘴𝘦𝘵𝘴 𝘸𝘪𝘵𝘩 𝘩𝘪𝘨𝘩𝘦𝘳 𝘪𝘭𝘭𝘪𝘲𝘶𝘪𝘥𝘪𝘵𝘺...𝘱𝘳𝘦𝘮𝘪𝘶𝘮𝘴. 𝘛𝘩𝘦 𝘤𝘩𝘢𝘭𝘭𝘦𝘯𝘨𝘦 𝘧𝘰𝘳 𝘴𝘮𝘢𝘭𝘭𝘦𝘳 𝘪𝘯𝘷𝘦𝘴𝘵𝘰𝘳𝘴 𝘪𝘴 𝘩𝘰𝘸 𝘵𝘰 𝘨𝘦𝘵 𝘢𝘤𝘤𝘦𝘴𝘴 𝘵𝘰 𝘵𝘩𝘦𝘴𝘦 𝘢𝘴𝘴𝘦𝘵𝘴." Individual investors may access these returns 𝙬𝙞𝙩𝙝𝙤𝙪𝙩 𝙢𝙖𝙩𝙚𝙧𝙞𝙖𝙡 𝙞𝙡𝙡𝙞𝙦𝙪𝙞𝙙𝙞𝙩𝙮 via an allocation to an appropriate fund structure. Rixon Capital manages a boutique asset-backed strategy focused on 𝗰𝗮𝗽𝗶𝘁𝗮𝗹 𝗽𝗿𝗲𝘀𝗲𝗿𝘃𝗮𝘁𝗶𝗼𝗻 and 𝗺𝗼𝗻𝘁𝗵𝗹𝘆 𝗶𝗻𝗰𝗼𝗺𝗲, investing in loans of up to 3 years in term. However its fund structure means investors have 𝙦𝙪𝙖𝙧𝙩𝙚𝙧𝙡𝙮 𝙡𝙞𝙦𝙪𝙞𝙙𝙞𝙩𝙮 while accessing these returns with the added benefit of portfolio diversification. #privatecredit #privatedebt #privatewealth #investoreducation #SMSF #ausbiz #smsf The Australian Financial Review Rixon Capital Capital Brief Financial Standard Financial Advice Association Australia (FAAA) ausbiz Blair Murphy | Dallin Howes | Luke Howes | Shrikaanth B, CFA | Hessan Shah | Alan Butterfield | Justin Roberts

Few spaces left - register for Masterclass Lifecycle and DC Investing, developed by CFA Society Netherlands and TIAS School for Business and Society. Dates: November 17th & December 8th, TIAS School for Business and Society, Utrecht, The Netherlands. What's on the program? The Dutch pension reforms place lifecycle and DC investing firmly in the center, with the focus about to shift from design to implementation. This masterclass is a great opportunity for participants to speed up your implementation capabilities, learn and work with: - The crucial choices in designing DC Schemes, in the Dutch and international context. - Latest insights in portfolio construction, investment strategies and implementation issues to tackle. - Measuring members' risk preferences and translating them to robust portfolios. Hear from and work with lecturers who are shaping these developments: Cees Harm van den Berg, CFA, Roel Mehlkopf, and Rogier Potter van Loon. Lots of case studies, practical examples that help decision making and implementation, and a great way to manage investment and governance challenges! More information? https://lnkd.in/edk5Hqep Apply? Contact annemarie.munnik@cfasociety.nl

Have you ever felt like investing is a game for the elite or wealthy? It's a common thought, but it's time to change that narrative. With Philly's 12 years as a Chartered Wealth Manager, she is passionate about demystifying investing for everyone. That's why she developed the "Introduction to Investing Masterclass," a straightforward, jargon-free workshop to help you: Master Investing Basic: Understand owning shares or bonds, in simple, clear terms. Discover Types of Investment Funds: Learn about active and passive funds and the role of fees in your returns. Navigate Timing and Risk: Grasp risk management strategies and interpret risk ratings linked with funds. Plus, you get a companion workbook to reinforce learning and guide your investing start-point. Whether saving for retirement or wanting your money to work harder, this masterclass is your ideal launchpad. Please note: it's educational and does not provide investment advice. Suitable for UK residents keen to learn about investing. I have done the masterclass and loved it and hence why I want to share it with you! (Affiliate link below) https://bit.ly/3YhVEar

Over the weekend I read the interview of Yaron Brook in the vba Journal of CFA Society Netherlands, where he said: “As fund managers, our duty is simply to try and achieve the highest possible return with an acceptable amount of risk. Our mandate is simply to make money and not to supposedly make the world a better place. That’s what politicians are for”. As a portfolio manager of one of the largest asset managers, I disagree with that statement. There is a saying that goes, “Money make the world go round”. Companies require capital, which investors have, hence they hold significant influence in shaping industries by directing capital towards businesses aligned with sustainable practices. By prioritizing environmentally and socially responsible investments, investors can steer industries towards a more sustainable future. People contribute to pension funds to guarantee income in the future for when they retire. But what if the money that is set aside is used in companies that make the planet uninhabitable? Pension funds should not only care about return on investment, but also for how these investments shape the world into which people will retire. I am happy that our largest client (Pensioenfonds ABP) has a core value, which is “Working towards a sustainable pension in a sustainable world”. We assess every investment opportunity using four criteria: risk, return, costs and sustainability. For example, we use our influence as a large and long-term investor to enter into a dialogue with the companies in which we invest in. If this dialogue does not lead to meaningful changes at companies that perform poorly is sustainability, we no longer want to invest in those companies... #abp #apg #impactinvesting #longterminvesting

Alternative investments are no longer exclusive to institutional investors. Private wealth management clients are also demanding alternatives - and with this comes the need for alts education. Keep an eye out for our next upcoming courses. #alternativeinvestments #privatebanking #wealthmanagement #education https://lnkd.in/ea7GK2c7

In The Australian Financial Review I discuss how long-term investors can get higher returns by investing in assets that have an illiquidity premium. This strategy has paid off for large US university endowments such as Yale Investments Office who have a greater portion of their investments in venture capital, private equity, alternatives, private real estate and infrastructure. Those endowments larger than $US5 billion have close to two-thirds of their funds in these illiquid assets while those smaller than $US100 million have only 15 per cent or less, and this has contributed to average returns two percentage points higher than the the smallest funds. This also applies to long-term investors in Australia such as the Future Fund. You can read more here https://lnkd.in/ggPJAU8H