15 апреля 2008 г.

In April, the Association will hold another regular breakfast meeting in Moscow. This time, we have the opportunity to meet with Nitin Mehta, Managing Director for the EMEA region at CFA Institute with a presentation on Investment and diversification.

Investment Conundrums

with Nitin Mehta
Managing Director for the CFA Institute’s EMEA region
Charlottesville, VA, USA
The event will take place on Tuesday, April 15, 2008,
at 9:30am in the IFC Moscow office.

PRESENTATION OUTLINE

(1) Why do some market anomalies persist for so long?
- Value and Size anomalies
- Small-Value is beautiful
- Value Premium in the UK
- Fama-French 3-factor model
- Anomaly explanations
- Human behaviour and finance

(2) Why do investors bother with active management?
- US mutual funds: 1983 - 2003

(3) Why do investors under diversify?
- Diversification puzzle
- Home-bias

(4) Why aren’t financial markets more efficient?
- James Tobin’s efficiencies
- Market efficiency
- Information explosion
- Costs, turnover and returns
- Cost of financial intermediation
- Leakages to intermediation
- High financial sector pay
- Many more conundrums

SPEAKER'S BIOGRAPHY

Nitin joined CFA Institute in February 2006 as Managing Director for the Institute’s EMEA region. Nitin has accomplished background in the investment profession, most recently serving as head of international equities at Henderson Global Investors, a UK-based fund manager with both institutional and retail clients.  At Henderson, Mehta was responsible for managing equity teams covering Europe, the United States, Asia, and emerging markets in the areas of global equities, technology, and socially responsible investing.  Earlier in his career, Mehta held a variety of positions of senior responsibility at investment firms including Quorum Capital Management, a London-based subsidiary of New York Life, where he was head of currency and derivatives; International Finance Corporation, a private-sector arm of the World Bank in Washington, D.C., where he was an investment officer; and Shearson Lehman Global Asset Management in London, where he was head of global equities.

Nitin Mehta earned an MBA from the London Business School in 1986 and also holds a bachelor’s degree from the University of Manchester’s Institute of Science and Technology.

The meeting will be hosted at the IFC offices: 36 Bld. 1. Bolshaya Molchanovka Street, Moscow, on Tuesday, April 15, 2008, at 9:30AM