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2011CFA Institute Announces June 2011 Worldwide CFA Exam Results43 percent of 115,027 CFA candidates from 90 countries pass New York, NY., 16 August, 2011 - CFA Institute announced today that 43 percent of 115,027 current and aspiring investment professionals worldwide passed the June 2011 CFA exams, bringing them one step closer to earning the CFA designation, a mark of distinction that is globally recognized by employers, investment professionals, and investors as the definitive standard by which to measure serious investment professionals. To earn the CFA charter, candidates must sequentially pass three six-hour exams that are widely considered to be among the most rigorous in the investment profession. The 2011 exams were given at 266 test centers in 189 cities worldwide. The Level I global pass rate was 39 percent (48,068 took the exam, up from 46,863 in June 2010) and the Level II global pass rate was 43 percent (44,175 took the exam, up from 43,406 in 2010). Of the 22,784 individuals (up from 21,462 in 2010) who in June 2011 took the third and final exam that leads to the prestigious CFA designation, 51 percent passed. CFA Institute expects that the majority of candidates who passed the Level III exam will become CFA charterholders later this year, bringing the number of charterholders worldwide to nearly 100,000. (View historical pass rates) "It is encouraging to see the growth in the overall number of candidates registering for the CFA Program, despite the volatile aftermath of the global financial crisis," said John Rogers, CFA, president and CEO of CFA Institute. "A number of factors are driving the demand for further financial education, including a desire for personal career development and a growing demand for well-qualified investment professionals." "We believe that we can help to rebuild trust in the financial community through education and the advancement of professional ethics in the investment profession; our charterholders do this by adhering to our Code of Ethics and our Standards of Professional Conduct. Last year, we conducted 20 panel discussions in worldwide locations to test our curriculum against what the profession needs and uses now. This continuous practice analysis process enables us to revise the curriculum annually - ensuring that we provide candidates with current and relevant practical knowledge." "The overall increase in uptake of the CFA Program demonstrates the importance which the investment industry places on the CFA credential, which is valued not only because it is challenging and comprehensive, but because it is relevant, " said Tom Robinson, CFA, managing director of education for CFA Institute. "This year's exam results conform to the recent 10-year exam history. It is important to keep in mind that exam pass rates are based on a standard-setting process that considers what a qualified candidate needs to know to practice in the current environment, rather than a set passing score or rate." The CFA curriculum includes ethical and professional standards; financial reporting and analysis; corporate finance; economics; quantitative methods; equity, fixed income, alternative investments; derivatives; portfolio management; and wealth planning. CFA Institute has administered well over a million exams since the inauguration of the CFA Program in 1963. On average, candidates report to spending in excess of 300 hours of study to prepare for each level. CFA candidates typically take four years to pass the three required exams. The Level I exam is offered twice per year, while the Level II and Level III exams are offered once each year. The Level I exam consists of multiple-choice questions. Level II is composed of item sets (i.e., mini cases with detailed vignettes), and the questions at Level III are 50 percent item set and 50 percent short answer and essay. Those who passed the Level III exam - 11,567 candidates ? will begin receiving their CFA charters in early October 2011, provided that they also have completed the minimum work experience requirement of four years in the investment industry, signed a commitment to abide by the CFA Institute Code of Ethics and Standards of Professional Conduct, applied to a CFA Institute society, and become a member of CFA Institute. (View an interactive website that recognizes the 7,353 charterholders who earned their charter in 2010.) Just as earning the CFA charter shows that an investment professional is committed to a higher standard, hiring a CFA charterholder signifies that a firm is, too. Employers and media around the world recognize the CFA charter as the standard of professional excellence, and, with such widespread recognition, CFA charterholders earn a significant competitive advantage for international employment. CFA charterholders are typically employed by investment companies, mutual funds, broker-dealers, investment banks, and as private wealth managers. Regulators around the world also recognize the value of the CFA charter (read more). Nearly all U.S. state securities commissions grant CFA charterholders an exemption from their licensing exams for investment advisers and investment adviser representatives. The NYSE and FINRA provide an exemption from the analysis portion (Series 86) of the Research Analyst Qualification Exam for certain applicants who have passed Level II of the CFA exam. Additionally, regulators in 21 other countries and territories such as Australia, Brazil, Canada, Hong Kong, Mexico, Peru, Singapore, South Africa, and the United Kingdom accept the CFA designation as meeting licensing or qualification requirements. In Indonesia, the Philippines, and Thailand, passing a certain level of the CFA exam is required to practice in the jurisdiction. Select colleges and universities have an appreciation for the global relevance of the CFA charter and the advantages it provides for their graduates. These institutions have been identified by CFA Institute as CFA Program Partners and they embed a significant percentage of the CFA Program Candidate Body of Knowledge into their degree programs, as well as commit to cover the CFA Institute ethical and professional standards in the curriculum. This recognition tells students and employers that the university curriculum is closely tied to professional practice and is well suited to preparing students to sit for the CFA exams. Currently, there are 137 CFA Program Partners on six continents, including Saïd Business School at the University of Oxford and The Johnson School at Cornell University. Examples of countries and territories with the largest number of candidates that took a CFA exam are the United States (29,537), Mainland China (13,787), India (10,515), Canada (9,514), the United Kingdom (7,742), Hong Kong (6,534), Singapore (3,619), Germany (1,689), South Africa (1,621), Switzerland (1,543), France (1,431), and the United Arab Emirates (1,158).
Deadline Extended to 8/15 - Annual Dinner SponsorshipsDon't miss the chance to have your firm's name printed in the CFA Chicago Annual Dinner Invitation that is mailed to more than 4,000 members, investment professionals and key decision-makers. Deadline extended to Mon. Aug. 15, 2011. Sponsorship details: http://www.cfachicago.org/sponsorship.asp Contact: sponsorship@cfachicago.org or (312)251-1304
Volunteers Needed for Local Investment Research ChallengeCFA Chicago Seeks Volunteers for Local Investment Research Challenge This year, as part of our ongoing university outreach program, CFA Society of Chicago plans on participating in the CFA Institute Investment Research Challenge by sponsoring a local competition for university students in the Chicago area. The CFA Institute Research Challenge offers students the unique opportunity to learn from leading industry experts and compete with peers from the world's top finance programs. This annual educational initiative promotes best practices in equity research among the next generation of analysts through hands-on mentoring and intensive training in company analysis and presentation skills. Winners of the local competition advance to the regional, national and global competitions. You can find out more about the Research Challenge at http://www.globalinvestmentresearchchallenge.org. We will rely on our members and volunteers to make the Chicago Challenge a success and to position our local winner to perform well in the successive rounds of the competition. We are seeking volunteers with equity analysis expertise to:
If you are interested in becoming part of this exciting initiative, please send a message with the following information to researchchallenge@cfachicago.org.
Thank you!
Annual Dinner and Golf Outing Sponsorship Opportunities Now Available - Showcase Your Firm!Please join CFA Society of Chicago as we plan for two of our highest profile events - the 7th annual Golf Outing and our 25th Annual Dinner. Consider securing your firm's sponsorship of the Annual Dinner and/or Golf Outing, which will provide you with an excellent opportunity to showcase your firm to our membership, socialize with individual members and show support for the CFA designation and the Society as well. Keep reading for specific details. CFA Society of Chicago 2011 Annual Dinner Please consider securing your firm's sponsorship of the CFA Chicago Annual Dinner, which will provide you with a high-profile opportunity to get your firm's name in front of our membership and to socialize with individual members, as well as to show support - not only for the new class of CFA Charterholders, but also for the CFA designation and the Society. Key Sponsorship Benefits:
Detailed information about available sponsorship opportunities can be accessed through the Annual Dinner Sponsorship Brochure. We've made enhancements to the various sponsorship levels, adding exciting benefits that will maximize your firm's visibility and provide key access to exclusive, members-only opportunities. Ensure your company is represented as a sponsor at this exclusive event! CFA Society of Chicago 2011 Annual Golf Outing Key Sponsorship Benefits:
Detailed information about available sponsorship opportunities can be accessed through the Annual Golf Outing Sponsorship Brochure. We have developed packages to include exciting benefits that will maximize your firm's visibility and provide key access to exclusive, members-only opportunities. Ensure your company is represented as a sponsor at this year's golf outing! To confirm your sponsorship for either event, please contact CFA Chicago at (312) 251-1304 or at sponsorship@cfachicago.org.
Leverage the Power of CFA Chicago: Join our LinkedIn Members-Only Group!You may already be aware that LinkedIn is the world's largest web-based professional network with over 100 million members. What you might not know is that CFA Society of Chicago has a LinkedIn Group designed specifically for members. Click here for more details...
2011-2012 Membership DuesAfter careful consideration, the Board of Directors of the CFA Society of Chicago voted to increase membership dues. Beginning with the 2011-2012 fiscal year, dues for Regular, Affiliate and Charterholder membership will be $175; Student membership will be $60. This change will appear on your 2011-2012 dues invoice. Since our last dues increase in 2003, the CFA Society of Chicago has increased programs by more than 40 additional events, added two new staff members, and is servicing close to 1,000 additional members. As our membership continues to grow, the Board felt it prudent to place the Society in the best position possible to meet the needs of our members with a diverse offering of programs and services. To meet these needs, the Board of Directors has implemented a comprehensive strategic plan that incorporates:
We will need to build some additional infrastructure and capabilities through both personnel and outsourced vendors in order to effectuate these initiatives and deliver added value to our members. Our goal is simply to deliver best-in-class service at minimal cost. While price increases are never welcomed, we believe it is necessary for our society to achieve continued success in our ongoing efforts to enhance benefits to our membership. On behalf of the Board of Directors, thank you for your continued support. Sincerely, Sincerely,
20102010 Annual Dinner Photos Now Available!Photographs from the CFA Society of Chicago's 24th Annual Dinner are now available! Images from the evening can be viewed and purchased online at: www.alyssamiserendino.com. Click on "Client Gallery" ... "Events" ... "CFA Chicago Annual Dinner 2010." Images will be available from Novermber 12, 2010 - February 14, 2011. CFA Chicago Partners with Kaplan SchweserAugust 31, 2010: LA CROSSE, WI - On September 1, CFA Society of Chicago announced the signing of an exclusive agreement naming Kaplan Schweser the society's Preferred Provider of Chartered Financial Analyst® (CFA®) exam preparation. As part of the agreement, Kaplan Schweser will provide seven annual scholarships for select society members, and discounted CFA exam review pricing for the entire membership. According to Kaplan Schweser Senior VP of CFA Education Dr. Doug Van Eaton, CFA, Kaplan Schweser study tools are designed to provide efficient and focused coverage of the critical material candidates need to know in order to be successful on the CFA exam. Click here for the full press release. Ignore Your Online Function Tickets and They'll Go Away!Your Online Function Tickets are set to expire on June 30, 2010. Don't let them get away! CFA has exciting events coming up that you won't want to miss! To see the calendar of upcoming programs, please click here. You can view your event ticket balance by logging into the website and clicking on the "Preferences" tab located at the top of the members-only home page. Once you are in the "Preferences" section, you will see your ticket balance under "Part I - Your CFA Chicago profile". Please note that you can only redeem function tickets by registering for events online. For more information on the paperless event ticket system, please visit: http://www.cfachicago.org/event_tickets.asp. We look forward to seeing you soon. CFA Chicago Softball League Seeking Female PlayersThe Society's Softball League, which starts on Tuesday, May 11th, is still looking for a few more female players to join the team. If you are interested in participating, please contact our office by Monday, April 26th via phone: (312) 251-1301 or email: info@cfachicago.org. To view details regarding this event, please click here. CFA Chicago Welcomes New CEO and PresidentDear CFA Society of Chicago - It is my pleasure to introduce to you the Society's new CEO and President, Angela McKay, CAE. After an extensive search, Ms. McKay was selected by the Board of Directors to replace Jill Epstein, the Society's former CEO and President. Ms. McKay's extensive association experience at the Academy of General Dentistry, Professional Convention Management Association and Healthcare Financial Management Association will be a great asset to the Society. Ms. McKay joined the Society on January 4th and has been busy at work ensuring a smooth transition. Angela McKay previously served as the Director, Constituent Services for the 35,000-member Academy of General Dentistry (AGD) in Chicago. In her role, Ms. McKay oversaw all aspects of constituent services, programs and communications. She was the primary contact for over 800 leaders and built a strong relationship with members by focusing resources on the training and development of constituent Boards and new volunteer leaders. Prior to joining the AGD, Ms. McKay worked closely with association leadership and members at the Professional Convention Management Association (PCMA) and the Healthcare Financial Management Association (HFMA) where she began her association career in 2001. McKay graduated with a Bachelor of Science degree from Illinois State University. She is very involved with the Association Forum, an organization dedicated to advancing the professional practice of association management, and served as the Component Relations SIG Chair from 2007-2008. Ms. McKay is also an active member of the American Society of Association Executives and obtained her Certified Association Executive designation in 2009. An Illinois native who currently resides in Chicago, she and her husband, Shaun, welcomed their first son in August last year. In addition to spending time with their family, they serve as mentors to a high school student through Partnership to Educate & Advance Kids (PEAK), a charitable organization providing opportunities for at-risk youth. Please join me in welcoming Angela McKay to the Society. Ms. McKay can be reached at amckay@cfachicago.org. Joan Rockey 2009Redeem 2009-2010 Function Tickets!2009-2010 function tickets have been deposited in members' online accounts. (Please note that you will only receive the function tickets after you have paid dues.) For more information on accessing and redeeming your tickets for upcoming events, click here. Candidate Membership in CFA Chicago now available!Effective July 1, CFA Chicago now accepts candidate applications for a local membership in CFA Chicago. This opportunity is only available to Level II and Level III candidates with active candidate numbers and slots for candidate members are limited. For more information, click here. CFASC Chicago Member Quoted in BarronsKathleen Shanley, CFA, senior bond analyst at Gimme Credit, was interviewed for her opinions on the credit markets in the March 16, 2009 issue of Barrons, pp. 42-43. Barrons subscribers can read the article at http://online.barrons.com/article/SB123698557308325345.html. CFA Society Of Chicago Member Wins Prestigious Research AwardPaul D. Kaplan, CFA, was honored by CFA Institute as the 2009 winner of the Graham and Dodd Award for his article, "Why Fundamental Indexation Might - or Might Not - Work". The research published in the January/February 2008 issue of the Financial Analyst Journal. 2008CFA Society of Chicago Members Appearing in CFA Institute MagazineThe November/December 2008 issue of the global magazine for charterholders (http://www.cfapubs.org/toc/cfm/2008/19/6) included references to a number of our Society's members. In the "Independent Variables" article (pp.35-39), Mark Toledo, CFA was featured as a professional (and CFASC volunteer!) taking the independent advisor track (p.38). In the brief on organizational changes (p.44), developments related to Jeff Diermeier, CFA (outgoing CEO), Brian Singer, CFA (incoming Board Chair), Alan Meder, CFA (incoming Board member) and Mark Anson, CFA (continuing Board member) were noted. Bill Gray, CFA authored a memorial tribute (p.45) on the late Ted Lilley, CFA. Ralph Wanger, CFA contributed his "Chapter 10" column (pp.54-55) on Benjamin Graham's "books of prophecy" and the collision of incompatible assumptions. Coming Federal Tax Law Changes - Input InvitedAt a meeting in Chicago on 12/04/08, Russell Sullivan, Democratic Staff Director of the US Senate Finance Committee, spoke about anticipated changes in tax law to follow arrival of the Obama administration. Much is brewing, and while the views he shared are inherently speculative, he will welcome any and all tax-related input and queries from practitioners, at russ_sullivan@finance-dem.senate.gov, or 202-224-1550. U.S. Treasury Relies on Local Assistance for TARPEnnis Knupp Will Facilitate Management of Troubled Assets On October 13, the U.S. Treasury announced that Ennis Knupp was engaged via the Emergency Economic Stabilization Act for immediate support on implementing related asset management programs. Ennis Knupp will assist on developing selection/oversight policies for the firms entrusted with direct portfolio management. Further details are available at the U.S. Treasury website, http://www.ustreas.gov/press/releases/hp1201.htm CFA Chicago member Kunal Kapoor believes "Market Opportunities Still Exist"As the market has slipped in the past year, more investors have switched from being optimists to being pessimists. While the number-crunchers can argue about whether we're technically in a recession, there is no doubt that there has been a significant slowdown that is likely to persist into the fourth quarter of 2008. That said, we maintain our belief that much of the bad news is reflected in asset prices, particularly stocks and bonds. To see full article, click here. CFA Test-Takers Seek Competitive Edge as Wall Street Cuts JobsCFA Chicago Member Lisa Curran Cited To read the human interest side of the June, CFA exam, click here. Opt-In to be listed in the CFA Chicago Public DirectoryIn response to the increased awareness of the CFA brand, CFA Chicago is pleased to offer members the opportunity to OPT-IN to be listed in a public directory of members on www.cfachicago.org. Unlike the member directory in the members-only section of the website (which is restricted), this directory will be populated with profiles of members who pro-actively choose to be listed and will be accessible by any visitor to the site. These profiles are designed to efficiently facilitate visitor searches for their best contact. To complete a profile and be listed in the public directory, please click here. CFA Chicago Member and Volunteer Michele Gambera, CFA quoted in Sun Times and appeared on Channel 11's "Chicago Tonight"Michele Gambera, CFA, chief economist at Ibbotson Associates was quote extensively in article entitled "Tapping Into Commodities Boom". Click here to see full article: Michele also was a panelist on a March 26 televised discussion about the economic outlook moderated by WTTW's Carol Marin. Connect and Collaborate using the NEW "CFA Community"CFA Chicago is pleased to announce the launch of "CFA Community" on the CFA Chicago website. This social networking platform (think "LinkedIn" meets "My Space" meets "Match.com"), exclusively for CFA Chicago members, lets you instantly build relationships and share ideas whenever you want to network. You create a personalized member profile (which can include a photo, documents, and media) and the system will help you find like-minded members. You can click on any profile to learn more about a member and send an email of introduction or set up a meeting. We believe this members-only benefit will be a valuable networking tool and we are delighted to be the first CFA society to offer such technology. To get started, click here: http://www.cfachicago.org/Members/cfacommunity.asp Federal Reserve Bank of Chicago Presidents presents to CFA ChicagoCharles Evans addressed the outlook of the US economy and the impact of the credit market crisis on homeowners, consumers and businesses at a sold-out CFA Chicago luncheon. To see the full presentation on Bloomberg TV, click here. CFA Chicago Member Gerald Jensen In the NewsGerald Jensen, CFA, Professor in the Finance Department at Northern Illinois University, was interviewed by a Chicago Tribune reporter for his expertise on presidential election-year investment strategies. The Tribune story -- "It's Investor Doubts in a Landslide" -- appeared on the front page of the Chicago Tribune business section, and explored Jensen's co-authored research study entitled "Don't Worry About the Election, Just Watch the Fed," the findings of which previously received major national media attention. Jensen's co-authors of the research study are Robert Johnson, Managing Director at the CFA Institute, and Scott Byer, University of Wisconsin-Oshkosh Assistant Finance Professor. Mr. Jenson was also interviewed by Stocks, Futures, and Options Magazine on his co-authored research study "Gridlock's Gone, Now What?", which had previously received major national media attention (click to view). Written by NIU Finance professor Gerald Jensen, University of Wisconsin Oshkosh professor Scott Beyer, and CFA Institute Managing Director Robert Johnson, the study explores whether or not return on investments fair better during periods of political gridlock. The SFO story refers to Jensen's research study as a seminal piece. The SFO story is entitled "What's the Real X Factor? What could a Republican or Democratic U.S. President Mean for Future Markets?".
2007CFA Chicago welcomes new CharterholdersOn November 7, CFA Chicago formally welcomed 208 new Charterholders into the fold. For a full list of the 2007 New Charterholders, please click here. 2007 CFA Institute Compensation Survey14,000+ members responded to the CFA Institute 2007 member compensation survey. Based on the sufficient sample size and overall response rate of 18 percent, CFA Institute is confident that the findings provide valid information to aid in your career assessment and planning. You can access the results through an online searchable database, and supplemental summary and country reports provide details on the methodology and enhancements. For those looking for the compensation differential between CFA charterholders and noncharterholders, note that such a comparison is not provided. This is not an oversight. Because of the inadequacy of truly comparable external data, CFA Institute deemed such a comparison to be not valid. CFA Chicago Members Named "Top Wealth Advisors" by Worth MagazineSteven Weinstein, CFA of Altair Advisers and David Murdock of the Northern Trust were recognized in Worth Magazine's October, 2007 article, "The Top 100 Wealth Advisors." Both are CFA Chicago members, Mr. Weinstein holding Regular status and Mr. Murdock Affiliate. Top Awards Presented for Financial Writing and ResearchDuring the recent CFA Institute Financial Analysts Seminar, recipients of our top awards in the areas of financial writing and research were officially recognized. Campbell R. Harvey and Claude B. Erb, CFA (Chicago society member), received the Financial Analyst Journal's highest honor — the Graham and Dodd Award for excellence in research and financial writing — for their article, "The Strategic and Tactical Value of Commodity Futures" (PDF). Mayor Daley encourages Chicagoans to participate in CFA DayIn recognition of the worldwide celebration of "CFA Day," Mayor Daley has issued a proclamation encouraging Chicagoans to participate in our CFA Day activity. CFA Day in Chicago will celebrate the founding of the global investment profession and highlight the value of the CFA designation. To see the full text of the proclamation, click here. CFA Chicago Members win "Best of the Street" award from Wall Street JournalJeff Nevins, CFA and Todd Van Fleet, CFA of First Analysis Corporation were awarded "Best of the Street" for their work in the Business & Industrial Services sector. Mr. Nevins currently serves an Officer with CFA Society of Chicago. CFA Chicago Member Wins Prestigious Graham And Dodd Scroll AwardCFA Institute Financial Analyst Journal (FAJ) has announced that CFA Chicago member Peng Chen, CFA, along with co-authors Roger C. Ibbotson, Moshne A. Milevsky and Kevin X. Zhu, have received the prestigious Graham and Dodd Scroll Award. Entitled "Lifetime Financial Advice: Human Capital, Asset Allocation and Insurance", the work examines the changing decision frame of investors as they modify asset allocation over their lifetimes. The integration of life insurance planning with financial capital choices is highlighted in its proposed optimal life-cycle model of investing. The complete paper, which was published in the January/February FAJ, can be accessed at http://www.cfapubs.org. Awarded by the FAJ's advisory council and editorial board, the Graham and Dodd Scroll Award is given in recognition of excellence in research and financial writing. The Graham and Dodd Awards were established in 1960 to recognize excellence in financial writing and to honor Benjamin Graham and David L. Dodd for their enduring contributions to the field of financial analysis. Annual Report Now OnlineThe CFA Chicago Annual Report (2005-2006)is now online. Click here. Member Wins Morningstar AwardFrom P&I Daily, January 8, 2007 - "Morningstar today announced winners of its 2006 Fund Manager of the Year awards. "David Herro was named International Stock Fund Manager of the Year. He manages the $7.7 billion Oakmark International Fund, which returned 30.6% for the 12 months ended Dec. 31, and the $1.3 billion International Small Cap Fund, which returned 34.9% for the same period. Mr. Herro, who is CIO for international equity at Harris Associates, Oakmark Funds' manager, has invested $1 million of his own money in the funds he manages, Morningstar noted. 'We believe the firm has an investor-centric culture, displayed by its decision to close Oakmark International Small Cap before it grew unwieldly. (Mr.) Herro has been doing a good job for a long time. He isn't a one-hit wonder,' Ms. Benz said in the release."
2006Top Awards Presented for Financial Writing and ResearchDuring the recent CFA Institute Financial Analysts Seminar, recipients of our top awards in the areas of financial writing and research were officially recognized. Campbell R. Harvey and Claude B. Erb, CFA (Chicago society member), received the Financial Analyst Journal's highest honor — the Graham and Dodd Award for excellence in research and financial writing — for their article, "The Strategic and Tactical Value of Commodity Futures" (PDF). Education Group Presents New Initiative: "Practitioner Demand Driven Academic Research"The Education Group proudly presents a brand new initiative, "Practitioner Demand Driven Academic Research." The CFA Society of Chicago is working with the Financial Management Association International to develop, at no cost or obligation, cutting-edge investment research applicable to CFA members, their firms, and the general investment profession. We ask CFA members to participate in our meetings, held at 12:30 pm on the fourth Tuesday of every month, either by phone or in person. Our goal is to specifically define issues plaguing our industry, such as accurate risk measurement for non-normal distributions, and present these problems to academics, who will develop research at no cost to the CFA Society. Researchers will be rewarded through publication and recognition for addressing relevant practitioner problems. CFA members, or "Thought Partners," are requested to provide only specific research ideas/critiques and data. If you are interested in participating, please contact: Rawley Thomas More information can be found on PDDARI's website: CFA Chicago Member and Past President Nick Ronalds Authors Article on Synthetically Replicating the EAFE IndexCFA Chicago member and Past President Nick Ronalds authored an article on synthetically replicating the EAFE index in the current edition of the "Journal of Indexes." Click here to read the full text: http://www.indexuniverse.com/JOI/index.php?id=752 Richard M. Ennis, CFA, Assumes Role Of Editor Of CFA Institute Financial Analysts JournalOn August 23, CFA Institute announced that Richard M. Ennis, CFA, co-founder and chairman of Ennis Knupp + Associates and member of the CFA Society of Chicago, will become editor of the Financial Analysts Journal effective December 1, 2006. CFA Chicago Announces Scholarship WinnersThis year, CFA Chicago had the pleasure of awarding 1 Study Scholarship for the June 2007 exam. Only current members of CFA Chicago were eligible to apply for the scholarship, which covers 1 Stalla System course in the candidate’s preferred format, as well as reimbursement for the cost of the CFA exam curriculum materials sold by CFA Institute. Each of the candidates was required to procure a sponsor and write an essay outlining their educational and career objective and explain how the scholarship would be beneficial in meeting those goals. They were also required to describe specific circumstances, including financial need, which they felt would qualify them for this scholarship. CFA Chicago Study Scholarship June 2007 winner is: Basili Alukos, CPA (Level 2) The CFA Society of Chicago also had the pleasure of awarding 6 scholarships for the June 2007 exam on behalf of the CFA Institute. All candidates were eligible to apply for the scholarship, which covers everything but $150 of the exam registration fee. Each of the candidates was required to demonstrate experience and/or interest in the investment profession, ethical standards and commitment to CFA Chicago and CFA Institute. This process entailed procuring a sponsor and writing two essays describing their interest in obtaining the CFA designation and how they plan on contributing to the advancement of investment management and research in the Chicago area. CFA Institute June 2007 Scholarship winners are: Charles Hansen (Level 1) Miao Hu (Level 1) Kate Marshall (Level 1) Jamie McAllister (Level 1) Melanie Angers (Level 2) Kimberly Appapillai (Level 2) CFA CHICAGO HAS MOVEDCFA Chicago has a new home: 134 N. LaSalle St. – Suite 1740 ROBERT D. NEWMAN, CFA, JOINS FIRST INDUSTRIAL'S BOARD OF DIRECTORSClick here to read the press release about one of our members: MORE THAN 150 CANDIDATES REGISTER FOR CFA CHICAGO STUDY GROUPSThe study groups for the June, 2006, exam are now full. This year, CFA Chicago accommodated more than 150 candidates in study groups around the Chicagoland area - a new record for the Society! CFA Chicago provides this complimentary service to all candidates and CFA Chicago volunteers serve as the contact for these groups. We wish all the June candidates the best of luck! Check back here this summer for details about December exam study groups.
CFA CHICAGO ANNOUNCES SCHOLARSHIP WINNERSThis year, CFA Society of Chicago offered 2 types of scholarships. The CFA Society of Chicago Study Scholarship was open to candidates who are members of CFA Chicago and the award covers the cost of the full CFA Institute curriculum (a $700-800 value.) The winners of the CFA Society of Chicago Study Scholarships are:
CFA Society of Chicago also had the pleasure of awarding scholarships on behalf of CFA Institute. CFA Institute provided the society with 7 scholarships for the June exam. CFA Chicago purchased an additional 2 scholarships from CFAI Institute so all of the deserving applicants in the Chicago area could receive a scholarship. This award was open to all candidates and covers all but $150 of the exam registration fee (which can exceed $700 for a first-time test taker).
CFA Society of Chicago congratulates all the winners and we hope you make us proud in June! (Note: Scholarship applications for the December exam will be posted on our website later this summer.)
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