The Portfolio Management Committee presents:


Date: Thursday March 31, 2016    

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Topics Include
Learning Outcomes


Time: 8:00 AM - 5:00 PM
5:00 PM - 6:00 PM (Reception)
Location: Arcadian Court, 401 Bay Street, 8th Floor
Toronto, ON
Event Type: Conference
CE Credits: Eligible for 6 CFA Institute CE credit hours
Eligible for Tuition Tax Receipts (form T2202A)
May be eligible for CE credits to maintain CFP® certification


CFA Society Toronto’s 2016 Annual Spring Pension Conference aims to provide you with the latest updates from thought leaders in the Canadian pension industry.  These experts will address the current environment, best practices and tools to provide you with the insight and background for management of today’s investment portfolios. You will also have the opportunity to exchange thoughts and ideas during the table discussions, and meet fellow industry professionals during our networking sessions.

Topics Include

Economic Outlook, global as well as domestic
The Past and Future of Provincial Pension Plans
The Role and Success in Pension Plan Management 
Asset Allocation
Factor Investing
The Stability of Canadian and U.S. Banks and Policy effects
The Art and Science of Prediction

Learning Outcomes

A look at prospects for the global, U.S. and Canadian economy and its effects on interest rates, exchange rates and equity and fixed income markets.
The pros and cons of utilizing risk factors vs. the traditional asset allocation approach
How ordinary people come up with reliable forecasts and beat the experts hands down.
How to look at asset classes and related strategies and make reasonable conclusions about what kind of long-term returns to expect from them.
The anticipated direction of Provincial Pension Plans.
What determines the role and success in Pension Plan Management


8:00 AM – 8:25 AM Registration & Networking Breakfast

8:25 AM – 8:40 AM Opening Remarks
Betty Liu, Anchor "In The Loop", Bloomberg TV; Host, Radiate Podcast
Pamela Ritchie, Anchor, Bloomberg TV Canada

8:40 AM  – 9:20 AM

Five Common Misunderstandings about the Causes and Cures of Inflation, Deflation & The True Sources of Economic Growth 
Woody Brock President, Strategic Economic Decisions, Inc. 
This presentation will discuss the  5 common misunderstandings about the causes and cures of inflation & deflation and about the true sources of economic growth.

9:20 AM  – 10:00 AM

Canada: How long for Low Rates?
Avery Shenfeld, Ph.D, Managing Director and Chief Economist, CIBC World Markets Inc.
The presentation will look at the global and North American economy and implications for interest rates (and the bond market), foreign exchange rates, and equity and commodity markets.

10:00 AM – 10:20 AM Q & A
Betty Liu, Anchor "In The Loop", Bloomberg TV; Host, Radiate Podcast
Pamela Ritchie, Anchor, Bloomberg TV Canada

10: 20 AM - 10:40 AM Networking Break

10:40 AM – 11:10 AM Factor Investing
Andrew Ang, PhD, Managing Director, Head of Factor Investing Strategies, BlackRock

This discussion will focus on why factors have become so popular, and how they are better than the traditional asset allocation endowment model. 

11:10 AM  – 11:40 AM   Factor Investing
Bruno Taillardat, Executive Director & Portfolio Manager, Equity Team, Unigestion 
The pros and cons of equity factor investing will be explored in this presentation. A case study will be utilized to demonstrate how refining the factor universes and employing active management can help mitigate some of the pitfalls and associated risks. 

11:40 AM  – 11:55 AM  
Table Discussion

11:55 AM  – 12:10 PM
 Q & A
Betty Liu, Anchor "In The Loop", Bloomberg TV; Host, Radiate Podcast
Pamela Ritchie, Anchor, Bloomberg TV Canada

12:10 PM – 1:10 PM  Networking Lunch - Superforecasting
Luncheon Speaker: 
Dan Gardner, Co-author of the book Superforecasting: The Art and Science of Prediction

Forecasts inform every important decision we make. So how can we be sure our forecasting is the best is can possibly be? Dan Gardner examines Superforecasting.

1:10 PM – 1:50 PM Asset Allocation
Ben Inker, CFA, Co-head of GMO's Asset Allocation team and member of the GMO Board of Directors
This presentation will address why you should get paid for owning respective asset classes. It will suggest a way for investors to look at asset classes and related strategies to make reasonable conclusions about the types of long-term returns they can expect from them. Inker will also touch on the importance of return premiums, the likelihood that an asset will give one vs. determining what the return might actually be. 

1:50 PM  – 2:05 PM Q & A
Betty Liu, Anchor "In The Loop", Bloomberg TV; Host, Radiate Podcast
Pamela Ritchie, Anchor, Bloomberg TV Canada

2:05 PM  – 2:30 PM Banks - US and Canadian. Stability & Policy Effects 
Charles W. Calomiris, Ph.D, Henry Kaufman Professor of Financial Institutions, Columbia Business School
This presentation will talk about the regulatory challenges for banking in the US, with an emphasis on political determinants of stability (US vs. Canada), and some details on regulatory reform possibilities.

2:30 PM  – 2:45 PM Q & A
Betty Liu, Anchor "In The Loop", Bloomberg TV; Host, Radiate Podcast
Pamela Ritchie, Anchor, Bloomberg TV Canada

2:45 PM  – 3:00 PM   Networking & Coffee Break 

3:00 PM –  3:40 PM  Provincial Pension Plans Past & Future 
Wesley Sheridan, Former Minister of Finance, PEI

3:40 PM  – 4:20 PM Transformation in Pension Industry, Government Role, and Success Factors in Pension Plan Management
Hugh O'Reilly, President & CEO, OPTrust
This presentation will discuss pension reform of the public sector.

4:20 PM - 4:35 PM Table Discussion

4:35 PM - 4:50 PM Q & A 
Betty Liu, Anchor "In The Loop", Bloomberg TV; Host, Radiate Podcast
Pamela Ritchie, Anchor, Bloomberg TV Canada

4:50 PM - 5:00 PM Wrap Up & Takeaways 
Terri Troy, CFA, CEO, Halifax Regional Municipality Pension Plan

5:00 PM - 6:00 PM 
Networking Reception 

Who Should Attend

The conference is targeted to senior members of Plan Sponsors, Insurance or Banking asset managers, and service providers in the finance industry.


Prices are subject to 13% HST          
Members $345
Non-Members $370
M T8: $2760
NM T8: $2960
 M T10: $3450  NM T10: $3700
Early bird pricing before March 17
Members $325
Non-Members $350
M T8: $2600
NM T8: $2800
 M T10: $3250  NM T10: $3500

  • Dietary Restrictions/Allergies: Due to venue restrictions onsite meal changes/substitutions cannot be accommodated. If you or your guest(s) have any dietary restrictions or would prefer a vegetarian meal, please email your requests in advance to before 12:00 PM on March 28.

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Registration Fee includes: A digital copy of conference material.

Cancellation Policy: CFA Society Toronto reserves the right to cancel an event that does not meet the minimum enrollment. In the event an event is cancelled all registrants will be contacted and 100% of your fee will be refunded.

Withdrawals/refunds: Advanced written cancellation notice is required.  Refund amount is based on when notice is received.

Before March 17 (inclusive) - 100% refund will be issued.
From March 18 - 28 - An administrative fee of $200.00 will be incurred for cancellation or transfers.
After March 28 - No refunds or transfers will be allowed.
All refunds and fees are subject to HST
Cancellation notices may be emailed to or faxed to 416-366-6716.

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CFA Institute Activity

This program qualifies for credit under the guidelines for the CFA Institute Continuing Education Program





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