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Event Detail

ETF Investing: The Good, the Bad, and the Ugly (Ended)

Date, Time, and Location:
Tuesday, June 11, 2013 (add this event to your Outlook Calendar)
4:00 pm
Chase Tower (57th floor), 21 S. Clark, Chicago, IL  60603   (Driving Directions)

Panelists:
Sam Eddins - Director of Research, IronBridge
Peter K. Ewing - Director of Product Management, Exchange Traded Funds Group, Northern Trust Global Investments
Paul Nolte, CFA - Managing Director, Dearborn Partners

Moderator:
Michelle McCarthy - Head of Risk Management at Nuveen

Date, Time, and Location:
Tues., June 11, 2013
4:00 pm - 6:00 pm
Chase Tower (57th floor), 21 S. Clark, Chicago, IL 60603

Program Description:
ETFs have brought a number of attractive features to investors, including lower costs, tax efficiency and convenience, among others. These and other positive attributes have contributed to the rapid growth of ETFs over the last decade to in excess of $1.4 trillion currently. But what are the risks of investing with ETFs? Our panelists will discuss a number of important ETF issues including capital markets efficiency, systemic risks (flash crash), high frequency trading, and capital gains treatment. Strategy specific risks will also be addressed including Leveraged, Inverse, Commodity, High Yield, and Emerging Markets debt ETF's, and ETN's.

Fee:
Members - $45
Non-Members - $55
Student-Members - $20
(payable by cash, check, credit card or function ticket)*

CFA Institute Qualified Activity: Eligible for 1.5 credit hours

Attire: Business Casual

Menu: Refreshments and light appetizers

Registration:
Register online below.

Agenda:
4:00 pm - 4:30 pm: Registration & Networking
4:30 pm - 6:00 pm: Program

Hosted by: Education Advisory Group

Panelists:
se Sam Eddins is Director of Research for IronBridge Capital Management LP. IronBridge Capital Management is an active manager of publicly traded equities. The firm manages four strategies focused on US Small Caps, US SMID Caps, US Large Cap, and Global Equities. Sam is responsible for designing the research process and risk control systems utilized by the firm. Prior to joining IronBridge, Eddins was a founding partner of HOLT Value Associates, L..P. and a Managing Director at Credit Suisse, where he served as Director of Research, overseeing the U.S. and international development of HOLT's corporate performance measurement and valuation framework. Eddins has extensively researched how the evolution of passive investment products is impacting the efficiency of market pricing mechanisms. More specifically, Eddins has researched how the proliferation of ETFs based on different index construction methodologies and the evolving flow of funds between them impair market efficiency as a result of crowding in certain areas of the market. Eddins holds a B.S. in Electrical Engineering from the University of Virginia and also received an M.B.A. from the University of Virginia's Colgate Darden Graduate School of Business Administration.

pePeter Ewing is the Director of Product Management for the ETF Group. Ewing is responsible for the oversight and management of the day-to-day operations of ETFs across various external and internal parties that provide investment, operational or administrative support for these products (e.g., the fund accountant, fund administrator, custodian, transfer agent, ETF distributor, middle-office, market makers, authorized participants, index providers, etc.). Before rejoining Northern Trust in August 2010, Ewing was the Chief Operating Officer of Guggenheim Transparent Value, with management responsibilities for all of Transparent Value's investment products and services. From 2006 to 2009, he headed the development and operations of Northern Trust's ETF initiative, as Managing Director. Ewing also headed the strategic business and product development functions at PlusFunds Group, Inc., a platform of separately managed hedge-fund accounts. From 2001 to 2003, Ewing was Director of Product Development and Director of Investment Products at Rydex Investments, with responsibility for the development and management of several new registered and private investment products, especially alternative investment products. In 1999 and 2000, Mr. Ewing had product development responsibilities at BGI, where he was an early member of the iShares launch team. Ewing holds a B. A. from Colby College in Music History.

pn Paul J. Nolte, CFA, has been in the investment field since 1986 with both National City and Bank One as lead portfolio manager in charge of various regions of the Bank's footprint. While at Bank One, Nolte not only was responsible for the private client group in Texas and Oklahoma, but also worked with the research group in putting together the investment models used by the entire bank. After leaving Bank One, Nolte began working with a boutique investment firm in Hinsdale as Director of Investments - responsible for all investment activity for the firm. More recently, Nolte is Managing Director with Dearborn Partners in Chicago. You may have heard him on WBBM and Wall Street Journal radio, seen quotes in the Chicago Tribune, Barron's, Reuters, Marketwatch or TheStreet.com. He has also been seen on CNBC Asia, CNBC Europe, FoxBusiness and BNN. Nolte was also part of a panel discussion on ETF investing at the annual conference for IndexUniverse. He is presently sits on both Elmhurst Police and Fire pension boards as well as past treasurer for Elmhurst swim team. He is also the finance chair for the Elmhurst YMCA and board member of Easter Seals of DuPage County.

Moderator:
MM Michelle McCarthy is a Managing Director and heads the Risk Management function at Nuveen Investments. Before joining Nuveen in 2010, she served as Chief Risk Officer at Russell Investments. From 2003 to 2009 she was the Chief Market and Operational Risk Officer at Washington Mutual Bank, responsible for measuring and monitoring interest rate risk limits on the bank's balance sheet, on its mortgage pipeline and warehouse, and its mortgage servicing rights asset, in addition to model validation function for market and operational risk models. She began her career in 1986 at Bankers Trust which was acquired in 1999 by Deutsche Bank. At Bankers Trust, McCarthy marketed and traded interest rate, equity and currency derivatives. From 1991-95, she headed the market risk function for Bankers Trust's European offices in London, then headed the risk function for the bank's investment management division in New York. From 1996 to 2003 she provided market risk software and measurement for the bank's customers, including asset managers, hedge funds and pension funds. McCarthy holds a bachelor's degree from the University of Washington and a master's degree in Government from Harvard University. She is a trustee of the Global Association of Risk Professionals ("GARP") and heads Chicago's GARP chapter. She is a member of the Buy Side Risk Managers Forum, and the Investment Company Institute's Risk Management Committee and Derivatives Advisory Committee.

*Special Notes Regarding Fees:
Regular and Affiliate Members may apply function tickets as payment for non-member and/or students member. Credit card is required to guarantee ALL reservations. Day-of-event registrations accepted on-site only if applicable and space available. There is a $5 surcharge for walk-ins. Visa, MasterCard, American Express, Discover and Diners Club are accepted. Cancellations accepted until 5:00 pm, June 4.

Passport Program
Members of any CFA society may attend at the CFA Chicago member rate. If you are only a member of CFA Institute, you do not qualify for the society member rate.

CFA Institute CE Qualified Activity
This program qualifies for credit under the guidelines for the CFA Institute Professional Development Program.

Content shared during CFA Society Chicago programs is not, and nothing in it should be construed as, an offer, invitation or recommendation of any specific financial services company or professional, or an offer, invitation or recommendation to sell, or a solicitation of an offer to buy, any securities in any jurisdiction. By registering for and attending this event, you acknowledge that any photographs that may be taken are the property of CFA Society Chicago and give your consent to their use in CFA Society Chicago's online and print business communications and marketing.