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DTSTART;TZID=America/New_York:20250312T173000
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DTSTAMP:20260524T104514
CREATED:20250206T191927Z
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UID:6786-1741800600-1741807800@cfanorthcarolina.org
SUMMARY:Triangle Networking-Ponysaurus Brewing Co.
DESCRIPTION:Join us for an evening of meaningful connections and professional networking with fellow CFA NC members and candidates. Register now to expand your network and engage in great conversations!
URL:https://cfanorthcarolina.org/event/triangle-networking-ponysaurus-brewing-co/
LOCATION:Ponysaurus Brewing Company\, 219 Hood Street\, Durham\, North Carolina\, 27701
CATEGORIES:Monthly Meeting
ATTACH;FMTTYPE=image/png:https://cfanorthcarolina.org/wp-content/uploads/2025/02/Wine-and-Network-15.png
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BEGIN:VEVENT
DTSTART;TZID=America/New_York:20250325T120000
DTEND;TZID=America/New_York:20250325T131500
DTSTAMP:20260524T104514
CREATED:20250217T195618Z
LAST-MODIFIED:20250311T204123Z
UID:6808-1742904000-1742908500@cfanorthcarolina.org
SUMMARY:CLT-Alpha Driven Fixed Income: Why Active Management Works
DESCRIPTION:Passive equities and passive fixed income are not equal and there are risks to viewing them as such. This session highlights some of the challenges passive fixed income management can present to investors and an in-depth analysis of how active managers use different methods to generate alpha. This presentation demonstrates why credit wins over time and why investors should use duration as a risk management tool versus an alpha generator. \n\n\n\nSession Key Takeaways: \n\n\n\n\nInvesting in passive fixed income should not be equated with investing in passive fixed income due to structural differences in index construction.\n\n\n\nForecasting interest rate movements or making duration bets is well documented to be challenging and not a reliable returns generator.\n\n\n\nHaving flexibility in when/if you add credit or exit credit can be beneficial.\n\n\n\n\nALT session Key Takeaways: \n\n\n\n\nInvesting in passive fixed income should not be equated with investing in passive fixed income due to structural differences in index construction. Attendees will learn that these risks include issuer concentration risk\, issuance-based index construction (which impacts issuer concentration and interest rate risk exposure)\, and a limited opportunity set as the most commonly used index (U.S. Bloomberg Aggregate) only represents ½ of the available U.S. fixed income market. Passive equity indices have different requirements\, and inclusion is generally a function of fundamentals – the most commonly used index (S&P 500) represents about 80% of available market capitalization.\n\n\n\nForecasting interest rate movements or making duration bets is well documented to be challenging and not a reliable returns generator as you either win your bet or lose. A study completed by the University of California\, Berkeley shows that out of 16\,559 forecasts of unemployment\, inflation\, and economic growth (the longest and most complete forecasting project\, the Survey of Professional Forecasters) forecasters were only correct ~23% of the time. This presentation will also cover that the market is not the best guide for future interest rate moves. In the past 5 years\, market pricing of the Federal Funds Interest Rate 1 year in the future has been incorrect from a magnitude standpoint and/or a directional standpoint.\n\n\n\nThe presentation will cover the basics of credit risk and how investors are compensated for taking on additional credit risk. Attendees will learn that historically credit has excess returns over Treasury securities despite experiencing more price volatility\, and that this volatility declines over longer holding periods. The presentation will also cover how credit spreads can be used to gauge whether current compensation for taking on credit risk is appropriate and how investors can position portfolios that best meet their risk appetite.\n\n\n\n\nSpeaker Bio: Jim Jackson\, CFA: Chief Investment Officer\, Victory Income Investors \n\n\n\nJim Jackson is the Chief Investment Officer of Victory Income Investors\, which was formerly known as USAA Investments\, a Victory Capital Investment Franchise\, and was acquired by Victory Capital in July 2019. Mr. Jackson joined USAA in 2009. Previous experience includes roles with Hartford Investment Management Company (HIMCO)\, Barings and Cigna Investment Management. Prior to entering the investment business\, Jim served in the United States Marine Corps. Mr. Jackson holds a B.S. in economics from the United States Naval Academy and received an MBA with High Distinction from the Ross School of Business at the University of Michigan in 2001. He is a CFA® charterholder.
URL:https://cfanorthcarolina.org/event/clt-alpha-driven-fixed-income-why-active-management-works/
LOCATION:Morton’s the Steakhouse\, 227 W Trade St #150\, Charlotte\, NC\, 28202\, United States
CATEGORIES:Monthly Meeting
ATTACH;FMTTYPE=image/png:https://cfanorthcarolina.org/wp-content/uploads/2025/02/Add-a-heading-95.png
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=America/New_York:20250326T080000
DTEND;TZID=America/New_York:20250326T091500
DTSTAMP:20260524T104514
CREATED:20250217T195951Z
LAST-MODIFIED:20250228T143730Z
UID:6810-1742976000-1742980500@cfanorthcarolina.org
SUMMARY:Triad-Alpha Driven Fixed Income: Why Active Management Works
DESCRIPTION:Passive equities and passive fixed income are not equal and there are risks to viewing them as such. This session highlights some of the challenges passive fixed income management can present to investors and an in-depth analysis of how active managers use different methods to generate alpha. This presentation demonstrates why credit wins over time and why investors should use duration as a risk management tool versus an alpha generator. \n\n\n\nSession Key Takeaways: \n\n\n\n\nInvesting in passive fixed income should not be equated with investing in passive fixed income due to structural differences in index construction.\n\n\n\nForecasting interest rate movements or making duration bets is well documented to be challenging and not a reliable returns generator.\n\n\n\nHaving flexibility in when/if you add credit or exit credit can be beneficial.\n\n\n\n\nALT session Key Takeaways: \n\n\n\n\nInvesting in passive fixed income should not be equated with investing in passive fixed income due to structural differences in index construction. Attendees will learn that these risks include issuer concentration risk\, issuance-based index construction (which impacts issuer concentration and interest rate risk exposure)\, and a limited opportunity set as the most commonly used index (U.S. Bloomberg Aggregate) only represents ½ of the available U.S. fixed income market. Passive equity indices have different requirements\, and inclusion is generally a function of fundamentals – the most commonly used index (S&P 500) represents about 80% of available market capitalization.\n\n\n\nForecasting interest rate movements or making duration bets is well documented to be challenging and not a reliable returns generator as you either win your bet or lose. A study completed by the University of California\, Berkeley shows that out of 16\,559 forecasts of unemployment\, inflation\, and economic growth (the longest and most complete forecasting project\, the Survey of Professional Forecasters) forecasters were only correct ~23% of the time. This presentation will also cover that the market is not the best guide for future interest rate moves. In the past 5 years\, market pricing of the Federal Funds Interest Rate 1 year in the future has been incorrect from a magnitude standpoint and/or a directional standpoint.\n\n\n\nThe presentation will cover the basics of credit risk and how investors are compensated for taking on additional credit risk. Attendees will learn that historically credit has excess returns over Treasury securities despite experiencing more price volatility\, and that this volatility declines over longer holding periods. The presentation will also cover how credit spreads can be used to gauge whether current compensation for taking on credit risk is appropriate and how investors can position portfolios that best meet their risk appetite.\n\n\n\n\nSpeaker Bio: Jim Jackson\, CFA: Chief Investment Officer\, Victory Income Investors \n\n\n\nJim Jackson is the Chief Investment Officer of Victory Income Investors\, which was formerly known as USAA Investments\, a Victory Capital Investment Franchise\, and was acquired by Victory Capital in July 2019. Mr. Jackson joined USAA in 2009. Previous experience includes roles with Hartford Investment Management Company (HIMCO)\, Barings and Cigna Investment Management. Prior to entering the investment business\, Jim served in the United States Marine Corps. Mr. Jackson holds a B.S. in economics from the United States Naval Academy and received an MBA with High Distinction from the Ross School of Business at the University of Michigan in 2001. He is a CFA® charterholder.
URL:https://cfanorthcarolina.org/event/triad-alpha-driven-fixed-income-why-active-management-works/
LOCATION:Forsyth Country Club\, Winston Salem\, NC\, United States
CATEGORIES:Monthly Meeting
ATTACH;FMTTYPE=image/png:https://cfanorthcarolina.org/wp-content/uploads/2025/02/Add-a-heading-95.png
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=America/New_York:20250326T120000
DTEND;TZID=America/New_York:20250326T131500
DTSTAMP:20260524T104514
CREATED:20250217T201753Z
LAST-MODIFIED:20250228T143632Z
UID:6812-1742990400-1742994900@cfanorthcarolina.org
SUMMARY:Triangle-Alpha Driven Fixed Income: Why Active Management Works
DESCRIPTION:Passive equities and passive fixed income are not equal and there are risks to viewing them as such. This session highlights some of the challenges passive fixed income management can present to investors and an in-depth analysis of how active managers use different methods to generate alpha. This presentation demonstrates why credit wins over time and why investors should use duration as a risk management tool versus an alpha generator. \n\n\n\nSession Key Takeaways: \n\n\n\n\nInvesting in passive fixed income should not be equated with investing in passive fixed income due to structural differences in index construction.\n\n\n\nForecasting interest rate movements or making duration bets is well documented to be challenging and not a reliable returns generator.\n\n\n\nHaving flexibility in when/if you add credit or exit credit can be beneficial.\n\n\n\n\nALT session Key Takeaways: \n\n\n\n\nInvesting in passive fixed income should not be equated with investing in passive fixed income due to structural differences in index construction. Attendees will learn that these risks include issuer concentration risk\, issuance-based index construction (which impacts issuer concentration and interest rate risk exposure)\, and a limited opportunity set as the most commonly used index (U.S. Bloomberg Aggregate) only represents ½ of the available U.S. fixed income market. Passive equity indices have different requirements\, and inclusion is generally a function of fundamentals – the most commonly used index (S&P 500) represents about 80% of available market capitalization.\n\n\n\nForecasting interest rate movements or making duration bets is well documented to be challenging and not a reliable returns generator as you either win your bet or lose. A study completed by the University of California\, Berkeley shows that out of 16\,559 forecasts of unemployment\, inflation\, and economic growth (the longest and most complete forecasting project\, the Survey of Professional Forecasters) forecasters were only correct ~23% of the time. This presentation will also cover that the market is not the best guide for future interest rate moves. In the past 5 years\, market pricing of the Federal Funds Interest Rate 1 year in the future has been incorrect from a magnitude standpoint and/or a directional standpoint.\n\n\n\nThe presentation will cover the basics of credit risk and how investors are compensated for taking on additional credit risk. Attendees will learn that historically credit has excess returns over Treasury securities despite experiencing more price volatility\, and that this volatility declines over longer holding periods. The presentation will also cover how credit spreads can be used to gauge whether current compensation for taking on credit risk is appropriate and how investors can position portfolios that best meet their risk appetite.\n\n\n\n\nSpeaker Bio: Jim Jackson\, CFA: Chief Investment Officer\, Victory Income Investors \n\n\n\nJim Jackson is the Chief Investment Officer of Victory Income Investors\, which was formerly known as USAA Investments\, a Victory Capital Investment Franchise\, and was acquired by Victory Capital in July 2019. Mr. Jackson joined USAA in 2009. Previous experience includes roles with Hartford Investment Management Company (HIMCO)\, Barings and Cigna Investment Management. Prior to entering the investment business\, Jim served in the United States Marine Corps. Mr. Jackson holds a B.S. in economics from the United States Naval Academy and received an MBA with High Distinction from the Ross School of Business at the University of Michigan in 2001. He is a CFA® charterholder.
URL:https://cfanorthcarolina.org/event/triangle-alpha-driven-fixed-income-why-active-management-works/
LOCATION:Flemings Steakhouse\, Crabtree Valley Mall\, Glenwood Ave #5004\, Raleigh\, NC\, United States
CATEGORIES:Monthly Meeting
ATTACH;FMTTYPE=image/png:https://cfanorthcarolina.org/wp-content/uploads/2025/02/Add-a-heading-95.png
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