Inaugural ETF & Indexing Forum

Transcription

1 Cantor Fitzgerald & Center for Institutional Investment Management at University at Albany, NY Present Inaugural ETF & Indexing Forum Friday, April 17, 2015 University at Albany, Business Building 1400 Washington Avenue, Albany, NY PROGRAM R In association with

2 7:30am - 4:00pm 7:30am - 8:15am 8:15am - 8:30am 8:30am - 9:00am 9:00am - 10:00am 10:00am - 10:15am 10:15am - 11:00am 11:00am - 11:45am Registration Breakfast Introductory Remarks: Donald Siegel, Dean & Professor, University at Albany and Reginald M. Browne, Senior Managing Director, Cantor Fitzgerald & Special Presentation: Robert R. Johnson, President & CEO, The American College of Financial Services The Institutionalization of Exchange-traded funds The Cost/Benefit proposition versus alternative ways to get exposure/manage risks Overview of the global ETF landscape Institutional strategies and tactics being adopted Beyond basic benchmark index exposure and into the world of active management Coverage of all asset classes Strategy ETFs Moderator: Reginald M. Browne, Senior Managing Director, Cantor Fitzgerald & Panelists: Ravi Goutam, Head of Pensions, Foundations & Endowments Distribution, ishares; Robert Trumbull, Head of Institutional ETF Sales, SSGA; John Hoffman, Global Head of ETF Capital Markets, Invesco PowerShares; Mike McGlone, Director of US Research & Strategy, ETF Securities Refreshment Break Managing passive exposures to traditional and non-traditional benchmark indexes Alternative weighted indexing trading and execution Analyzing strategies for style, size and factor exposures Full replication versus optimization Liquidity and capacity constraints, and trading considerations Cash flow management, use of futures or ETFs Moderator: Albert S. Neubert, Plan Sponsor Relationship Consultant, Cantor Fitzgerald & Panelists: Robert J. Arnold, Director of Global Equities, NY Common Retirement Fund; Lori McKnight, Investment Consultant, former Compliance Manager of Public & Private Equities, and Index Portfolio Manager, Florida State Board of Administration; Dave Mazza, Head of Research, SPDR ETFs and SGA Funds, SSGA Track A - Main Room Fixed income and cash management using ETFs Fixed income ETF liquidity versus the underlying holdings Long duration fixed income ETFs Enhanced cash management using ETFs High yield ETFs Target date (hold-to-maturity) fixed income ETFs International fixed income ETFs Moderator: Marc Barrachin, Managing Director, Product Head, Indices, Markit Panelists: Robert J. Cannon, President & CEO, Horizon Investments, LLC; Jean-Paul Sursock, Director, Product Strategist, Fixed Income Portfolio Management Group, BlackRock; Bob Smith, CEO, Sage Advisory 2

3 Track B - Breakout Room Institutional Adoption of ETF Managed Solutions Types of ETF based solutions available to institutional investors Access to information about the strategies through evestment and other platforms Consultant community awareness (or lack of) Where do they fit as an allocation for a pension or endowment fund? The value proposition: fees and net of fees risk adjusted performance Moderator: Randy Bullard, SM Director of ETF Solutions, Cantor Fitzgerald & Panelists: Bart Farinholt, Director of Sales, RiverFront Investor Group; Sharon Snow, Chief Executive Officer, Metropolitan Capital Strategies; William H. Roach, President & CEO, Globalt, Inc., Dr. Richard Michaud, President, New Frontier 11:45am - 1:15pm 1:15pm - 2:00pm Lunch Keynote Speaker: Vijay Singal, J. Gray Ferguson Professor of Finance, Department Head, Finance, Virginia Tech Topic: Equal Weighting Versus Capitalization Weighting-Advantage Sometimes, Maybe? Track A - Main Room Alternative asset exposures/strategies including the use of ETFs Commodity index ETFs: are you getting what you think you are getting? Real asset ETFs Real estate and REIT exposures using ETFs MLPs, private equity and hedge fund exposures using ETFs Moderator: Hany Shawky, Associate Dean & Professor, University at Albany Panelists: Kelly Haughton, Chief Executive Officer, Global Index Group, Inc.; George Milling-Stanley, Head of Gold Investment Strategy, SSGA; Mike Hunnicutt, Head of PowerShares ETF Institutional Sales, Invesco PowerShares; James J. Celestine Jr., Director of Real Assets, NY State Common Fund Track B - Breakout Room Trustee Training: The ABCs of ETFs What is an Exchange Traded Fund? Legal structure Tax structure Comparison to other forms of investment Understanding trading and liquidity Management fees and execution costs Moderator: Ronnie Jung, Former Executive Director & CIO, Texas Teachers Retirement System Panelists: Gerald Garrett, Chairman, City of Tulsa, Firefighters Pension & Retirement System; David LaValle, Vice President, US Head of ETF Capital Markets, SSGA; Benjamin Holland, Controller, Butler County (PA) 3

4 2:00pm - 2:45pm 2:45pm - 3:30pm Selecting ETFs and implementing an ETF program Evaluating exposures and tracking to the underlying basket Understanding management fees, impact of tax structure, execution costs Understanding liquidity in typical market environments and under stress The role of securities lending inside the ETF and with the ETF, itself Considerations for selecting an execution partner Moderator: Randy Bullard, SM Director of ETF Solutions, Cantor Fitzgerald & Panelists: Chris Mirrione, Senior Portfolio Manager, Alesco Advisors Trends in index development as the basis for financial products Alternative weighting including equal weighting schemes Factor based indexes Moderator: David Smith, Professor, University at Albany Panelists: Raman A. Subramanian, Managing Director, MSCI; Tom Goodwin, Senior Research Director, Indexes, Russell Investments; Mark Carver, Director, Investment Strategist, Multi-Asset Model Portfolio Strategies Group, BlackRock 3:30pm Forum Closing Remarks: Reginald M. Browne, Senior Managing Director, Cantor Fitzgerald & 4

5 Partner Firms 5