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CIA 2014 Investment Seminar

November 5, 2014
Hilton Montreal Bonaventure Hotel, Montréal, QC


07:45 – 15:00  Registration and CIA Information Desk

07:45 – 08:30  Hot Buffet Breakfast

08:45 – 09:45 – Session 1 • Shareholder Activism and ESG Investing: Ethical, Strategic, and Governance Implications
Patrick Chamberland (FCIA)
Dan Hanson*, partner, Jarislowsky Fraser

This session will present the perspectives of American and Canadian investors on how environmental, social, and governance issues affect investment decision making, and what influence large institutional investors can have on corporations.

09:45 – 10:45 – Session 2 • Longevity Risk
Dominic Bourbonnais (FCIA), CBC/Radio-Canada
Josephine Marks (FCIA), principal, Eckler
Brent Simmons (FCIA), senior managing director, defined benefit solutions, Sun Life Financial

Longevity risk is a growing area of interest for pension plans and insurance companies alike. This session will explore the range of investment structures used to manage and mitigate the risk in Canada and internationally, ranging from traditional annuity contracts and reinsurance agreements to longevity insurance, longevity bonds, and other emerging capital market solutions.

10:45 – 11: 00  Networking Break

11:00 – 12:00 – Session 3 • Benchmarking: From CAPM to Smart Betas
Éric Fontaine (FCIA), director, multi-manager strategies, Pavilion Groupe Conseils 
Som Seif*, founder and chief executive officer, Purpose Investments

More investors are moving away from traditional market capitalization-based (capital asset pricing model-driven) indices to alternative (passively-driven) strategies, known as smart betas, in search of better returns and lower costs amid volatile markets and an uncertain economic climate. In this session, Som Seif will highlight the evolution of smart beta strategies and present their underlying characteristics along with the pros and cons.

12:15 – 13:00  Luncheon

13:15 – 14:00 – Session 4 • Reflections on Governance and on Pension Plans
Éric Fontaine (FCIA), director, multi-manager strategies, Pavilion Groupe Conseils 
Claude Lamoureux (FCIA)

During this session, Claude Lamoureux will share his career experience as it pertains to the design and financing of pension plans, the evolution of good governance practices, and the challenges faced by the industry.

14:15 – 15:30 – Session 5 • Behavioral Biases in Investment Decision Making
Éric Fontaine (FCIA), director, multi-manager strategies, Pavilion Groupe Conseils 
Lisa Kramer*, associate professor of finance, University of Toronto

This session looks at traditional vs. behavioural finance. What is behavioural finance?
• Understanding common psychological biases (including group and herd behaviour);
• Behavioural biases in finance; and
• What are the implications of behavioural finance for practitioners?

*Not a member of the CIA.


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