Transcript Annual member meeting 2013-2014 Fiscal year

ANNUAL MEMBER MEETING
2015-2016 FISCAL YEAR
September 30, 2015
SOCIETY MISSION
To lead the regional investment profession
providing educational and career
development opportunities for members,
investment professionals, and the
community.
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BOARD OF DIRECTORS
Dr. Greg Filbeck, CFA, FRM, CAIA, PRM – President
George Emanuele, CFA – Vice President
Joe Lantz, CFA, CAIA – Treasurer
Jim Herrington, CFA, CAIA - Secretary
Chris Wiles, CFA – Programs Chair/Media Relations
Dr. Manoharlal Sukhwani, CFA – University Outreach Chair
Cale Grove, CFA – Membership Outreach Chair
Ryan Bend, CFA, CAIA – Special Events Chair
David Zawadski, CFA – Past President
Caryn Loehr – Executive Administrator
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COMMITTEES
• Membership – Cale Grove, Chair
• Sponsorship – George Emanuele, Chair
• Financial Literacy – David Zawadski, Chair
• Marketing and Communications – Joe Lantz, Chair
• Special Events: Investment Research Challenge/Forecast
Dinner – Ryan Bend; Job Fair – Greg Filbeck; Future of
Finance – George Emanuele
• Programs – Chris Wiles, Chair
• Endowments & Foundations – Jim Herrington/Joe Lantz,
Co-Chair
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MEMBERSHIP
490 Members
202 Active Candidates
74 Charterholders Not
Members of Society
14
24 2
Regular Members
202
Charterholders Not
Society Members
Candidates
Affiliate Members
Retired Members
488
Student Members
74
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2015 CFA EXAM LEVELS PASSED
43
39
36
31
Level 1
Level 2
Level 3
0
Dec-14
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0
Jun-15
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OPERATING FUNDS FINANCIAL REPORT
STATEMENT OF REVENUE & EXPENSE
FOR THE FISCAL YEAR ENDED JUNE 30, 2015
Revenues
CFA Institute Operational Funding
Local Society Dues
Annual Meeting/Social Functions
Endowment/Foundation Conference
Investment Research Challenge
Luncheons
Market Outlook Dinner
Sponsorships
CFA Prep Programs
Job Postings
Total Revenues
Net Loss
Assets
Beginning Balance
Ending Balance
$22,143.43
$28,760.00
$814.07
$21,947.04
$4,500.00
$9,813.60
$5,128.52
$10,250.00
$3,717.32
$6,727.50
$113,801.48
($6,228.66)
$76,847.52
$70,618.86
Operating Expenses
Administrative/Accounting
Strategic Planning/Committee Support
Annual Meeting/Social Functions
Endowment/Foundation Conference
Investment Research Challenge
Luncheons
Market Outlook Dinner
Student Career Day
CFA Education Session
Newsletter
IT/Miscellaneous
Total Expenses
$120,030.14
FINANCIAL LITERACY CAMPAIGN
Beginning Balance
Deposits
Growth Funding
Sponsorships
Total Deposits
Withdrawals
Financial Plan Competition
Ending Balance
CFA Society Pittsburgh
$15,300.00
$5,791.01
$20,422.86
$16,292.94
$7,624.50
$38,497.84
$10,551.75
$1,000.00
$2,299.33
$1,143.95
$1,105.96
$0.00
$14,000.00
$2,500.00
$16,500.00
$3,550.00
$12,628.78
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SPONSORSHIP PROGRAM LAUNCHED
• Program Launched in October, 2014
• 6 Sponsorship Program Opportunities with Three Levels Each
- Annual Partnership
- Market Outlook Dinner
- Stock Pickers’ Luncheon
- Investment Research Challenge
- Annual Meeting/Charter Awards Ceremony
- Financial Literacy Campaign
Special Thanks to this Year’s Sponsors
Annual Partnership – Federated Investors
Market Outlook Dinner – MFS Investments, PNC Wealth Management
Financial Literacy Campaign – Univ. of Pittsburgh, Penn State Behrend
Investment Research Challenge – S & P
$12,750 Raised to Help Support CFA Society Programs
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2014-2015 EVENT SCHEDULE
• September 4 - Cleveland Fed (co-sponsored with Economic Club of Pittsburgh)
• September 17 – Bob Hargerty, Wall Street Journal
• October 15 – Dan Fuss – Loomis Sayles
• November 19 – Brian Smith – ExOne
• December 3 – Candidate Information Session
• December 10 – Chris Verrone, Strategas Research
• January 21 – Niall O’Malley, Blue Point Investment Management
• February 18 – Stock Picker’s Luncheon
• March 18 – Stephen Gurgovits, F.N.B. Capital Partners; University of
Pittsburgh, IRC Championship Team
• April 15 – Mebane Faber, Cambria Investment Management, recognition of
winners in the Collegiate Personal Finance Planning Competition
• May 6 – Employment Trends in Finance – A Panel Discussion
• May 20 – Katherine Collins, Honeybee Capital
• June 17 – Lance Stonebypher, Ned Davis Research Group
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2015-2016 EVENT SCHEDULE
• September 9 – Brian Portnoy – The Investors Paradox
• September 24 – Harvey & Ishida – Matthews Emerging Asia
• October 21 – Kipp Kjeldgaard – Lazard International REITs
• November 10 – Movie – “Money For Nothing” – Allan Meltzer
• December – To Be Determined
• January 11 – Forecast Dinner
• February 17 – Stock Picker’s Luncheon
• March 16 – Michael Gayed – Pension Partners
• April – To Be Determined
• May – To Be Determined
• June – To Be Determined
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SPECIAL EVENTS – 2014-2015
• August 27 – Social Hour and Committee Sign Up (Six Penn Kitchen)
• October 1 – Annual Meeting – Warhol Museum; Speaker: Eric Shiner, Director
• November 15 and May 16 – Mock Exams
• December 3 – Overview of CFA Exam and Study Strategies
• January 5 – Forecast Dinner
SPECIAL EVENTS – 2015-2016
• August 31 – Social Hour and Committee Sign Up (Oliver or Twist)
• September 14 – CFA Society Pittsburgh Job Fair
• September 30 – Annual Meeting – Omni William Penn; Speaker, Robert
Stammers, CFA, Director, Investor Education, CFA Institute
• November 14 and May 21 – Mock Exams
• December 2 – Overview of CFA Exam and Study Strategies
• January 11 (tentative) – Forecast Dinner
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FINANCIAL LITERACY OUTREACH
• Objective for the CFA Society of Pittsburgh: Establish Western
Pennsylvania as our nation’s leader in preparing our regions students to
be financially literate. With a focus on high school and college students there
are three programs that are of interest to the CFA Society of Pittsburgh:
• Involvement in the collegiate financial plans: Reaching out to expand the
number of colleges in the area that have incorporated The Missing Semester
and who are applying the ideas within the book to their own personal financial
future. CFA Society of Pittsburgh’s involvement includes:
- Created and provided a “certificate of accomplishment” to college students
that complete the creation of personal financial plans and meet a minimum
standard.
- A competition in which each participating college sent the top ten financial
plans and the society reviews and awards the top plans with a monetary
prize.
- Reviewing and providing feedback on the Collegiate personal financial plans
(similar to college-to-high school feedback from the JA Money 101 program).
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FINANCIAL LITERACY OUTREACH
• Involvement in the 2015 student panel:
- The objective of the panel is to - make Money 101 a dinner table
conversation.
- April 10, Money 101 – Taking Control (student panel discussion on financial
literacy).
- Each of the participating students will have personally taken actions to take
control of their financial future. The theme: if they can so can others!
• Allegheny Intermediate Unit (AIU)
- Introduced financial literacy as a subject to potentially be taught at local high
schools as part of the curriculum.
- We presented to teachers from seven high schools in Allegheny County on
September 14, 2015. We have committed toward helping underwrite the cost
of the books, as well as to make “auditorium” presentations with the help of
our Financial Literacy volunteers. More to come.
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SUMMARY
FINANCIAL LITERACY, 2014-2015
• Awarded Growth Funding or $14,000 for 2014-2015.
• 2014-2015 Collegiate Personal Finance Planning Competition
• April 10, Money 101 – Taking Control (student panel discussion on financial
literacy)
FINANCIAL LITERACY, 2015-2016
• Renewed Growth Funding or $14,300 for 2015-2016.
• 2015-2016 Collegiate Personal Finance Planning Competition
• Alleghany Intermediate Unit
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FUTURE OF FINANCE
• Received proclamation from Mayor Peduto, declaring May “Investor
First Month”
- Seeking proclamation from Governor in 2016
• Presented to numerous groups to discuss investment related topics
including:
- American Institute of Individual Investors
- Fayette County Cultural Trusts
- Young Professionals Group
- Westinghouse SURE
• Created video (https://youtu.be/hYe7_Mf2FcA) to share what the CFA
means to existing Charter holders
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GUEST SPEAKER
ROBERT “BOB” STAMMERS, CFA
DIRECTOR, INVESTOR EDUCATION
CFA INSTITUTE
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GLOBAL INVESTMENT RESEARCH CHALLENGE
Subject Company : Dick’s Sporting Goods (DKS)
Participating Universities
University of Pittsburgh
Carnegie Mellon University
Indiana University of Pennsylvania
Robert Morris University
Penn State – University Park
Penn State Erie – The Behrend College
Duquesne University
Washington & Jefferson University
Timeline
September 28, 2015 – Kick off Event
October 15, 2015 – Company Presentation
March 2016 – Local Presentations – Rivers Club, Pittsburgh
Week of April 11, 2016 – Regional & Global Presentations – Chicago
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2015 FORECAST DINNER
Where: Rivers Club, Pittsburgh
When: Monday, January 5, 2015
Time: 5:00 – 8:00 pm
Speakers
Charlie Smith – Fort Pitt Capital
Martin Schultz, PNC Investments
Greg Melvin – CS McKee
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ENDOWMENTS & FOUNDATIONS CONFERENCE
Conference Agenda From May 2015
A Macro-economic Overview of the
Global Markets
Rethinking Strategic Allocation for
Endowments and Foundations
CIO Roundtable: Carnegie Mellon,
Penn State, and the Cleveland Clinic
Active vs. Passive Investing Debate
Energy as an Industry and an
Investment
Hedge Funds Overview
Local E&F Management Spotlight
Alternative Investment Options: Real
Assets, Venture Cap, & Commodities
Keynote Address: Michael Psaros – Co-Founder & Managing Partner
KPS Capital Partners
Sponsors
Platinum Sponsor: BNY Mellon
Gold Sponsors: C.S. McKee, Federated Investors,
Manning & Napier, and Wisdom Tree
Reception: The Pittsburgh Foundation
Venue: Duquesne University - Power Center Ballroom
SAVE THE DATE: MAY 18, 2016
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CONGRATULATIONS NEW CHARTER HOLDERS
Alan Cannella Jr., CFA
Nathaniel L. Ecoff, CFA
Stephen John Fallon, CFA
Paola Giordano, CFA
Mark D. Luttringer, CFA
Salman Mazhar, CFA
Damian Michael McIntyre, CFA
Thomas Christopher Pipich, CFA
Mark Carey Rodgers, CFA
Vlasta Sheremeta, CFA
Jing Xie, CFA
Zachary Ethan Young, CFA
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