Lunch with Antti Ilmanen; Investing amid low expected returns

Monday 10 October, 12.15-1.30pm
Venue: NZX, Auckland
Free for members

Please register online

Don’t miss the opportunity to hear from Antti Ilmanen, Principal and Global Co-head of the Portfolio Solutions Group at AQR Capital Management, during his visit to New Zealand.

Renowned for his work, Antti received CFA Institute’s 2017 Leadership in Global Investment Award.

In this session, he will share key insights from his latest book Investing Amid Low Expected Returns: Making the Most When Markets Offer the Least. The book delivers a timeless and timely treatment of strategic investment processes in times of low expected returns.

Antti will explain how the decades-long fall in required returns in all major asset classes has given great tailwinds until now, but promises headwinds, slow pain or fast pain, for the future. He will further discuss common investor responses to this low expected return challenge.

After reviewing the bleak outlook, Antti provides some constructive answers. He will summarise the key building blocks to long-run returns, as well as efficient ways of putting the pieces together into a portfolio including:

  • Major asset class premia
  • Illiquidity premia
  • Style premia
  • Alpha

A light lunch will be provided at the start of the event.

Numbers are limited. If you register and then find your are unable to attend, please cancel your order, or email info@cfasociety.org.nz, so we can allocate your place to another person.

We thank NZX, Smartshares Limited and AQR for supporting this event.

ABOUT THE SPEAKER

Antti Ilmanen is a Principal at AQR Capital Management and the author of “Expected Returns” (Wiley, 2011) as well as its monograph, “Expected Returns on Major Asset Classes.” Antti’s second book “Investing Amid Low Expected Returns” was published in April 2022.

An expert on financial investments, Antti has three decades of experience in the investment industry, where he has skillfully served as a bridge between practitioners and financial academic research. At AQR, Antti co-heads the Portfolio Solutions Group, the team responsible for advising institutional investors and developing the firm’s broad investment ideas. Prior to joining AQR in 2011, Antti spent seven years as a senior portfolio manager at Brevan Howard and a decade in a variety of roles at Salomon Brothers/Citigroup. He began his career as a central bank portfolio manager in Finland. Over the years, he has advised many institutional investors, including Norway’s Government Pension Fund Global and the Government of Singapore Investment Corporation. Antti has published extensively in finance and investment journals and has received a Graham and Dodd award, the Harry M. Markowitz special distinction award, and multiple Bernstein Fabozzi/Jacobs Levy awards for his articles.

Antti earned M.Sc. degrees in economics and law from the University of Helsinki and a Ph.D. in finance from the University of Chicago.