ANNUAL REPORT & FINANCIAL STATEMENTS For year ending June 2020 CONTENTS About Us 4 Presidents Message 5 CEO Report 6 Secretary Report 7 Treasurer Report 8 Honour Roll 10 Year at a Glance & Key Statistics 11 CFA Institute & Society Volunteers 14

COMMITTEE REPORTS Member Services 16 Diversity 18 Member Education 20 Membership 22 Candidate Engagement 24 ©2020 CFA Institute. All rights reserved. CFA Institute is the global association of University Engagement 26 investment professionals that sets the Chapter 28 standard for professional excellence and credentials. The organisation is a champion Engagement & Communications 29 of ethical behavior in investment markets and a respected source of knowledge in Research 31 the global financial community. Our aim is to create an environment where investors’ interests come first, markets function at FINANCIAL REPORTS 33 their best, and economies grow. There are more than 168,000 CFA Charterholders worldwide in 163+ countries and regions, with 151 local member societies. For more information, visit www.cfas.org.au 2 ABOUT US PRESIDENTS MESSAGE

CFA Society represents the interests of over 2,000 members of the President, CFA Society Sydney investment profession. Ganesh Suntharam, CFA

Our mission is to serve members of the society and making it the world’s largest association of investment “Never let a good crisis go to waste” – echoing the unique global content highlights how expanding our enhance the reputation of the CFA designation in professionals, and serves society’s best interests words of Winston Churchill albeit in a very different digital delivery will continue to have a lasting impact on by promoting ethics, integrity and professional through the education of investment professionals as context, this is the challenge facing any organisation the services we offer our members. excellence; and to improve the competency and well as by informing policy-makers and the public about as it looks to steady the corporate ship whilst also Lastly, despite all the disruptions of a global pandemic, standards of the investment profession in Australia. the profession and promoting high professional and adapting to maintain relevance in a rapidly changing there were still some very positive signs for the health Our independent voice aims to promote the integrity ethical standards. world. So as we started the new decade of 2020 with of our local CFA community and brand. Some other key and efficiency of the capital markets that underpin our CFA Society Sydney also promotes the CFA Program and many plans and aspirations, few would have expected highlights include: profession and the broader economy. that two months into the new decade, we would be at the Investment Foundations Program, for both of which • The University of Sydney became the first Australian Our vision is to make CFA Society Sydney an CFA Institute is the awarding body. The CFA Program is a standstill - painstakingly questioning the necessity of every single social interaction we had. But this university to win the CFA Institute Research indispensable part of the investment profession in a graduate level, self-study programme designed to Challenge Global Final in March 2020 – a credit Australia. equip investment professionals with technical skills, was just one of several challenges confronting many organisations including ours over the last year. to the team and a thank you to our University The society, which was founded in 1996, is a leading practical knowledge and a clear understanding of ethics Engagement committee for running a professional member society of the CFA Institute. CFA Institute has and professional standards. It is recognised as the gold Hence, in the backdrop of a global pandemic caused digital event over 168,000 members in 164 countries and territories, standard for professional credentials within the global by the coronavirus disease (COVID-19), our organisation investment community. needed to adapt both by necessity and by design. • Our Diversity Committee continued their impressive By necessity because we could no longer serve our schedule extending their Opening Doors program, members in the traditional face-to-face setting we were partnering with F3 and others to create internship accustomed to. By design, our dedicated team and opportunities, and again hosting a great board members recognised that we needed to improve International Women’s Day event our technology and delivery platforms to continue • The continuation of our Mentoring Program and improving and expanding upon the services we deliver Networking Events which remain well attended and to our members. supported by our members Over the course of FY 2020, we are proud to say that • Our Candidate Education committee successfully our Member Education Committee maintained its transitioned our prep courses to an online format, programming schedule throughout most of the year. and During the disruptions in March, the committee worked • Our Brisbane members now making up about 9% of diligently to transition our lunchtime educational our local society member base seminars to a webinar format. We found that by changing the way we deliver this content, we were As the above shows, our adaptability in a year of BOARD OF DIRECTORS able to reach a new and broader audience amongst our significant change highlights the strength of our local Jake Koundakjian, CFA Director, FIIG Securities member base – an important and valuable learning for team and the health of our relationships with our local Ganesh Suntharam, CFA President, CIO, Redpoint Sandi Orleow, CFA Non-Executive Director any member based organisation. CFA members and community. Investment Management Ian Patrick, CFA Chief Investment Officer, Sunsuper Vice President, Deputy CIO and GM DC But nothing highlights both our success and the Charles Wu, CFA Marian Poirier, CFA Senior Managing Director, Head of Another benefit of the shift to social rather than challenge in front of us than the sheer numbers: with Investments at State Super Australia, MFS Investment Management physical interaction over the last year was the access Treasurer, Head of Acquisitions & Michael Brivulis, CFA Roger Samuel, CFA Senior Vice President (Telecom, Media to a much broader base of recorded and live-streamed over 3500 members across Australia and averaging Greenfield, Bupa Dental Corporation and Technology Research) Jefferies Australia content. With the change to a digital delivery of content, over 10,000 candidates nationally over the last 3 years, Immediate Past President, Head of Anthony Serhan, CFA Diane Winnard, CFA Secretary, we were able to offer our Sydney members access to it is fair to say that the CFA designation is still seen Distribution, Pendal Group Director, PWC many events that we traditionally would not have had as a premier qualification in the financial services Turab Bank, CFA Investment Implementation and Due industry. And with the support of the board, our team, Diligence, REST Industry Super EXECUTIVE STAFF access to. A great example of this over the last year our invaluable volunteers, and with you our members, James Cowper, CFA Director, Principle Advisory Services was the interview of Mark Delaney, CIO of Australian Lisa Carroll CEO CFA Societies Australia we continue to work towards our vision that our Cassandra Crowe, CFA Head of Consultants, Australia & Michaela Francis Executive Director Super (based in ) by Marg Franklin, the new local society becomes an indispensable part of the New Zealand, T Rowe Price Emma Phillips Events Manager global CEO of the CFA Institute (based in Canada) which Raj Gohil, CFA Head of Macquarie Investment Michelle Granbery Candidate Services Manager was hosted by CFA Society New York and live-streamed investment profession in Australia. Management, Australia to a global society audience. This greater access to

4 5 CEO REPORT SECRETARY REPORT

CEO, CFA Societies Australia Secretary, CFA Society Sydney Lisa Carroll Diane Winnard, CFA

CFA Societies Australia brings together our member as well as CFA Institute and Society resources from Like all organisations globally, 2020 has been a year of We have strengthened the framework in which Societies of Sydney, Melbourne and –together around the world. Our candidate courses also moved disruption and uncertainty for CFA Society Sydney. Our the nomination committee operates to provide representing over 3000 charterholders – to collaborate to online, ahead of the news that the June 2020 exams communications as directors pivoted to virtual as we consistency and transparency for future nomination to achieve our shared aim of being the leading would not proceed. worked through what the pandemic would mean to our processes. These changes include; a proposed professional body for investment management In March – just prior to the shutdown – we hosted society and members. bylaws change, terms of reference defining the professionals. Following the development of our the new CEO and President of CFA Institute, Margaret 2020 has also been a significant year for the roles and responsibilities of nomination committee shared strategic plan last year, in FY20 we sought and Franklin CFA. Marg spoke alongside Heather Brilliant nominations committee given the terms of the members including the applicable terms allowed, gained CFA Institute funding to support delivery of this CFA and Maria Wilton CFA at our Sydney International President, Treasurer, and Brisbane director are ending. and a nomination process document on how future strategy, and this year we focused on execution in Women’s Day event. She also spoke at our industry Throughout the year the nominations committee has nominations should be performed. order to: leader roundtable breakfasts, member events, and convened to assess the skills and needs of the board I would like to thank our volunteers who serve as the • Build brand, reputation and influence through met with senior industry figures and regulators, in an and proposed appropriate appointments for the officer heart of our society and are a huge reason for our advocacy, marketing and communications; uplifting (and exhausting) series of events. positions of President, Vice President, and Treasurer continued success. I look forward to getting to know • Engage with industry to increase recognition and We continued to increase our media coverage and as well as held an open nomination process with more of you over the coming year as we continue to build market integrity; promote our key advocacy messages, in particular we members in Brisbane to appoint a new director to lead build on our brand and network. the chapter. • Attract and develop future professionals; focused on ethics with a roadshow of ethical decision- • Deliver member value and extend local reach; making workshops run by CFA Institute’s Sonia Gandhi in the lead up to the Australian Investment Conference • Increase female membership and participation in in October 2019. The conference was a highlight of the industry; and the year, with nearly 400 delegates gaining insights • Enhance operational excellence and financial from local luminaries and international speakers. We sustainability. trained three local members to be accredited to deliver ethical decision-making workshops, and these are now This year saw progress made on all fronts, although a core part of our engagement with employers and from March we found ourselves adapting rapidly to the industry. My thanks to our conference committee and impacts of COVID-19. We focused on managing risks the advocacy and employer engagement councils who posed by the pandemic and to ensuring the safety and have guided and supported this work. well-being of our members, candidates, staff and event attendees. With the shut down of in-person activity we It has been a memorable year – Sydney surpassed moved swiftly to introduce webinars and virtual social 2000 members, we responded to a global pandemic, events to ensure we could continue to deliver value for and saw the University of Sydney team win the global members and support you during this time. The shift to final of the CFA Institute Research Challenge. I look online events has meant our members across Australia forward to the challenges that 2021 will bring. can benefit from the local programming in each society,

Goal 1: Build the CFA brand, reputation and influence in Australia, Goal 4: Deliver member value and through advocacy, marketing and 1 A three-year national 4 extend local reach communications strategy to build brand, deliver Goal 5: Significantly increase the Goal 2: Engage with industry to member value, number of women becoming CFA increase recognition and build market Charterholders and participating in the integrity 2 develop future professionals and 5 industry contribute to market Goal 3: Attract and develop future integrity. Goal 6: Enhance operational professionals 3 6 excellence and financial sustainability

6 7 TREASURER REPORT

Treasurer, CFA Society Sydney Michael Brivulis, CFA

The financial statements have been compiled by • Increased member interest in CFA educational Hughes Pettit chartered accountants and audited by events. The events were later delivered in an online Edward T. Conrick. The accounts have been prepared format given social distancing requirements. in accordance with Accounting Standards for Tier 1 • The society continued to sponsor Women in Super, associations with total revenue of less than $2m in F3, Finsoc and Unit. revenue in a financial year. • The society continues to add value to members and The society relies on three key revenue streams to help candidates through events and initiatives such as fund the activities to benefit members, candidates and the Member Mentoring program, diversity initiatives the investment profession. including Opening Doors & International Women’s 1. $784k funding from the CFA Institute to recognise Day, member education events, candidate events, both the fees collected for the CFA exam and and member social networking functions an allocation to fund special projects to benefit The goal of the society is not to make a profit. The members. society after-tax surplus is $81 thousand on revenues 2. $155k from membership subscriptions, and of $1.36 million. 3. $134k from candidate service activities that include The society balance sheet continues to be strong. Cash the exam review course, practice exam and cram and investments at year end were worth circa $2.24m. course. Retained member funds after allowing for current The society qualified for the Australian Tax Office liabilities is $2.02m. The strong Asset position is there “Boosting Cash Flow for Employers” scheme and should we want to fund a major growth initiative, fund received the maximum payment of $50,000 delivered a major event, or protect us if we have a downturn in as a credit to the Activity Statement which offset the revenue. income tax withheld from wages paid to employees. The year’s financial highlights: Thank-you Michael Brivulis • Sydney successfully hosted the largest ever CFA Societies’ Australia Investment Conference in October. • Membership numbers grew by 2% to 2,068 in a challenging environment.

FINANCIAL ASSETS UNITS HELD ASSETS Platinum International Fund - C Class 300,492.81 $528,416.61 Schroder Real Return CPI Plus 5 percent Fund - Professional 414,313.75 $474,513.54 State Street Passive Balanced Trust 713,716.92 $667,967.67

TOTAL $1,670,897.82

8 9 HONOUR ROLL YEAR AT A GLANCE & KEY STATISTICS

PAST PRESIDENTS Anthony Serhan, CFA 2014 - 2017 Richard Brandweiner, CFA 2012 - 2014 Members Brindha Gunasingham, CFA 2009 - 2012 Olivia Engel, CFA 2007 - 2009 Victoria Rati, CFA 2005 - 2007 2,068 members Katrina Onishi, CFA 2003 - 2005 2020 Bruce Tomlinson, CFA 2001 - 2003 2014 2,068 Emilio Gonzalez, CFA 1999 - 2001 1,331 Jim Savage, CFA 1997 - 1999 Mark Lazberger, CFA 1996 - 1997

VOLUNTEER OF THE YEAR Frank Li, CFA 2019 Louise Baker, CFA 2018 Oliver Trusler, CFA 2018 Lauren Zusy, CFA 2017 average 19% 81% Richard Heath, CFA 2016 age FEMALE MALE Nidal Danoun 2015 Chris Osborne, CFA 2014 39.8

LIFE MEMBERS Raymond Orr, CFA 2016 Bruce Tomlinson, CFA 2015 Jim Savage, CFA 2014 Emilio Gonzalez, CFA 2013 Mark Lazberger, CFA 2013 Rowland John Apthorp, CFA 2013 89% Membership Retention FOUNDING DIRECTORS Emilio Gonzalez, CFA Mark Lazberger, CFA Raymond Orr, CFA Jim Savage, CFA Bruce Tomlinson, CFA

10 11 KEY STATISTICS

TOP EMPLOYERS MEMBER JOB FUNCTION

Commonwealth Bank of Australia Research Analyst, Investment Analyst Macquarie Group

Other (please specify) AMP Limited Corporate Financial Analyst Consultant Pendal Group Limited PricewaterhouseCoopers Risk Analyst/Manager Perpetual Limited Australia and New Zealand Banking… Accountant or Auditor Morningstar, Inc. Financial Adviser/Planner/Wealth… 0 50 100 150 Investment Strategist

0 200 400 600

PRIMARY INVESTMENT FOCUS CANDIDATE GENDER TRENDS

80% Generalist Not Applicable 60% Other Fixed Income 40% Private Equity 20% Real Estate Structured… 0% FX/Currency 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Female Male 0% 10% 20% 30%

12 13 CFA INSTITUTE AND SOCIETY VOLUNTEERS

We would like to take the opportunity to acknowledge the following individuals who are actively contributing in various CFA Institute committees at the global level.

Joanna Chang, CFA VOLUNTEER OF THE YEAR Education Advisory CFA Society Sydney volunteer of the year award Alison Tarditi recognises individuals who demonstrate exemplary Future of Finance results for the society, CFA Institute and beyond. It is Richard Brandweiner, CFA an incredibly difficult task to choose a Volunteer of the Future of Finance Content Council Year, since we have around 70 volunteers including Brindha Gunasingham, CFA board members who contribute countless hours of time Disciplinary Review Group and energy to our mission. This year we could not limit This list includes only larger, standing committee the award to one person. Instead the award was given appointments, as some short term roles are not to two volunteers who have worked tirelessly in their reported. The list does not include confidential or respective areas. non-public rosters, or roles for which a member is paid including graders, content producers, abstractors and Frank Li, CFA Chair – University Engagement examiners. Ken Howard, CFA – University Engagement (QLD) COMMITTEE DISTINGUISHED SERVICE AWARD Mark Lazberger, CFA This CFA Institute award was established to honour members who have made an extraordinarily significant contribution to CFA Institute, through their leadership, REPORTS exceptional stewardship, and outstanding service. Accompanying the award was $10,000 USD which Mark kindly donated to CFA Society Sydney to fund professional development annually for our Volunteer of the Year.

15 MEMBER SERVICES

The Member Services Committee is responsible for developing and implementing initiatives that are valued by our Membership. One of CFA Society Sydney key areas of focus is building a stronger sense of community. The Committee keeps this objective in mind when designing any new initiatives.

Despite the onset of COVID-19 in Q1 2020, the past 12 AREAS OF FOCUS FOR 2020-2021 months have been another productive and successful one for CFA Society Sydney Member Services • Continuation of Quarterly Social Drinks series, Committee. I thank the Committee and Society staff for including looking to partner with industry groups/ their enthusiasm and support. organisations that align with our values and mission. In 2019-2020, the Member Services Committee focused on 3 core initiatives: • Investigating holding a daytime social event (eg breakfast time) to attract members that cannot 1. Continuation of social events program, including attend after work events. the successful Quarterly Drinks series. • Consideration of “new members event’’ aimed at 2. Expansion and formalisation of diversity initiatives encouraging new charterholders’ attendance at CFA with an initial focus on gender diversity. Society Sydney events. 3. Continuation of the highly successful Mentoring • Implementation of a professional development Program launched in previous year. program to assist members with the soft skills needed for career advancement within the KEY HIGHLIGHTS DURING 2019-2020 investment management industry. • Social Events – Quarterly drinks were well received • Continue formal mentoring program. by the membership with increased attendance (85 The Member Services Committee will be changing its - 120 attendees at each event). Highlights include form and focus in 2020-2021 to become the Member the celebration of CFA Society Sydney achieving Engagement Committee. This portfolio will be charged 2,000 members event in February 2020 and online in ensuring CFA Society Sydney is providing value and trivia event in May 2020. appropriately engaging with the membership right • Gender Diversity – See Diversity Committee Report. across our various demographics of age/experience, professional focus and other characteristics. • Mentoring Program. The Member Services Committee is here to serve the membership and always welcomes feedback on how CFA Society Sydney can further add value to its members. We look forward to interacting closely with our membership in the coming year and providing services that benefit our members.

COMMITTEE CHAIR Matthew Clendenny, CFA James Cowper, CFA Former - Associate Director, National Australia Bank Director, Principle Advisory Services David Matesic, CFA Portfolio Manager, Atrium Investment Management COMMITTEE MEMBERS Ben Wolrige, CFA Sylvia Bao, CFA Co-Portfolio Manager, Arowana Capital Senior Analyst (Market & Liquidity Risk), Sumitomo Mitsui Lauren Zusy, CFA Banking Corporation Vice President, Business Development, AQR Capital

16 17 DIVERSITY

The Diversity Committee builds on previous years’ momentum in providing valuable services to our female CFA members. We remain committed to engaging with and supporting our community through these unprecedented times, via established and new initiatives.

After two and a half years as Chair of the Diversity • International Women’s Day panel, with co-ordination Committee, Louise Baker has stepped away from across Sydney and Melbourne Societies, and this role to Chair the CFA Societies Australia Diversity with attendance by Margaret Franklin, CEO CFA Council. Vanessa Pham has stepped up to become Institute. The panel also featured Heather Brilliant, Chair and Louise remains on the Committee. CFA - President and CEO, Diamond Hill Capital In 2017, the Sydney board set a target of achieving Management, Inc. and was hosted by Maria at least 30% female membership by 2027. This year, Wilton AM, CFA - Non-Executive Director, Board of the Diversity Committee remained focused on 3 core Governors, CFA Institute. 100 people attended this initiatives to achieving this target: event. • Implementing initiatives aimed at increasing female • Round IV and V of Opening Doors series, with total candidate enrolment in the CFA Program. attendance by 100+ candidates and members, • Implementing initiatives aimed at increasing the meeting with junior and senior industry speakers retention of female candidates in the CFA Program. for an open Q&A session on career development. Opening Doors V was successfully held virtually, the • Actively engaging with and supporting our female first time this was done. membership base. • An informal virtual networking event for mid- level career women, with guest speakers Alicia ACTIVITIES DURING 2019-2020 Gregory, Head of Private Equity at the Future Fund Following the outbreak of COVID-19 and the related and Meredith Jordan, Partner at recruitment firm lockdown, the Committee swiftly embraced virtual Platinum Pacific Partners. The event was purposely technologies to continue to reach our members. The kept small at 15 attendees who were personally Committee has undertaken several activities and new invited by the committee. We will continue to refine initiatives in 2019-2020 including: this offering to ensure we build a community for our • Continuing our partnership with Future of Females experienced female members. in Finance (F3) founded by Camilla Love. As part COMMITTEE CHAIR Diane Winnard, CFA of this initiative, CFA Society Sydney will sponsor AREAS OF FOCUS FOR 2020-2021 Vanessa Pham, CFA Director, PwC 10 university internships with corporate mentors, Research Relationship Director, Macquarie James Cowper, CFA • Continue the Opening Doors series (Round VI), Director, Principle Advisory Services T. Rowe Price Asset Management and AQR Asset which will continue to be virtual. COMMITTEE MEMBERS Ganesh Suntharam, CFA Management. CFA society members will volunteer Louise Baker, CFA • Extending the Opening Doors series to university Investment Director, Redpoint Investment Management as F3 ambassadors, presenting on specialist Head of Consumer Customer and Product, Thorn Group students, in collaboration with the University Amy Teh, CFA investment areas during the 6-week internship. Mark Beardow, CFA Head of Investment and Consultant Relations, Franklin Engagement Committee. Principal, Darling Macro • Partnered with PwC to host a leadership skills Templeton Peggy Liang, CFA training event by Gillian Fox, Executive coach, • International Women’s Day event in 2021 with high Anna Strupinska Principal, Stewart Brown Advisory Pty Ltd Client Service Manager, MFS Investment Management and passionate diversity advocate. The event profile speakers, again to be coordinated with CFA Societies Australia National Diversity Council. Victoria Tan, CFA, CAIA Lauren Zusy, CFA was hosted by PwC and attended by female CFA Portfolio Analyst Listed Shares, Sunsuper Vice President, AQR Capital Management members and PwC employees. Celine Kabashima, CFA Anshula Venkataraman, CFA • Hosted two intimate virtual workshops on the topic Senior Investment Specialist, AMP Capital Investment Analyst, Crestone Wealth Management Rachel Friend of Sponsorship, by Executive coach Nell Wilson. 20 Sandi Orleow, CFA Research Relationship Manager, BT Investment Solutions female members attended this event. GAICD Non-Executive Director Marian Poirier, CFA Miriam Herold, CFA Senior Managing Director, Head of Australia & New Head of Superannuation Trustee Office, Member Zealand, MFS Investment Management Investment Outcomes, AMP

18 19 MEMBER EDUCATION

The objective of the Member Education Committee (MEC) is to facilitate CFA Society Sydney Another initiative the MEC implemented this year was members in fulfilling their Continuing Education (CE) credit requirement, to expand their the ‘301 Series’. The first 3 topics we covered were: Fixed Income, Ethical Decision-Making and Private knowledge base and stay updated with the latest market developments and current research. Equity. The ‘301 Series’ is a unique series of events The main focus of the MEC is organising educational events. Our goal is to enhance the developed for professionals who already have a basic professional development of our members by ensuring they receive quality programs. understanding of particular asset types and would like to develop their expertise further. Each of the 301 series events are led by an expert in their field, who will provide CFA Society Sydney MEC organised 22 member • How do the experiences of US and EM factor a detailed knowledge of how to evaluate, analyse and education events during the 2019/2020 financial year. investing differ, considering the unique features of apply to investment and professional principles. The MEC focuses on providing a quality and balanced an evolving EM landscape? The MEC will continue to work with our members and program – one that is diverse in its range of topics, and • How do we effectively implement a factor investing the feedback they have provided to tailor the program to timely to address the key topical areas of the industry strategy through factor design and portfolio their needs and preferences. In particular, the MEC as they arise. Given the disruption caused by COVID-19, construction? will continue to focus on webinars for the foreseeable the planned events from March 2020 were suspended future and provide information on how they can be and the MEC transitioned to providing educational ‘Investment Governance for Fiduciaries’ - Dr Michael viewed if missed via the fortnightly email publications. sessions via webinar. Some highlights of the past Drew and Dr Adam Walk, Directors ,Drew, Walk & Co.; financial year include: Jen Driscoll CEO, AllianceBernstein Australia; Danielle Press, Commissioner at ASIC. With the Australian ‘We cannot be passive about ESG’ - Matthew McAdam, superannuation system being the fourth largest Director Asia Pacific, PRI; Pooja Daftary, ESG Research pool of funds under management globally, the panel Analyst, MFS; Mark Spicer, Director Sustainability examined how trustees fulfil their fiduciary duties Services, KPMG and Marian Poirier, Managing Director, when addressing investment challenges and explored MFS. The panel discussed Climate Risk Assessment frameworks for good governance of ‘other people’s and Disclosure, Global Impact Reporting and Integration money’. Case studies to gain a deeper understanding of a company’s culture, risk tolerance and long-term ‘Australia’s Gender Superannuation Gap – Let’s Take sustainability. Action’ - Cate Wood, Chair ,Women in Super; Diane Winnard, Director, PwC; Dr Carla Harris, CEO and co- ‘Global Economic and Market Outlook’ - Ric Deverell, creator of Longevity app; Richard Brandweiner, CEO, Chief Economist and Head of Macro Strategy, Macquarie Pendal Group Australia. The panel discussed the Make Group. Ric shared his views on the global and Super Fair campaign and what is being lobbied for at economic and market outlook, sorting through political a policy level to have a significant impact and lasting developments, particularly US/China trade tensions change on the gender superannuation gap and also and potential central bank policy stances, along with explored initiatives around what corporates can do opining on challenges and opportunities for Australia to enhance their employees’ engagement with their post the federal election. retirement outcomes, as well as overall financial well- ‘Behavioural anomalies and factor investing’ – Jason being. Hsu, Chairman and CIO, Rayliant Global Advisors. ‘The Coronavirus epidemic and Emerging Market Arguably, the education event of the year, Jason equities: Panic or keep calm and carry on?’ - Andrew COMMITTEE CHAIR Toby Lewis, CFA, FRM, GAICD addressed the following questions: Ness, Emerging Markets Equity Portfolio Manager Turab Bank, CFA Director, Harbour Reach • What are factors and how should we think about ,Franklin Templeton. Just before COVID-19 taking the Manager – Investment Implementation and Due Diligence, Hanyu Liang, CFA Rest Super Investment Analyst IAG factor investing? world by storm, Andrew discussed case studies Jutin Lo, CFA • How should we define the key risk factors driving from the team on the ground in China about how COMMITTEE MEMBERS Portfolio Manager, Sunsuper returns in global financial markets and the the epidemic is playing out for both companies and Chris Baker, CFA John O’Brien, CFA behavioural factors driving anomalous returns? individuals. Andrew also dissected the complexities of Fixed Income Strategist, BlackRock Principal Adviser, Whitehlem Capital the situation from a macro perspective and discussed Jeremy Browne, CFA Andrew Reeves, CFA • How do we measure factor premia? why it is so difficult to draw parallels with previous Managing Director, Australian Client Group, AllianceBernstein Analyst, Bronte Capital • How can we examine whether traditional factors are epidemics. Nidal Danoun CA FCPA CTA CFP® Director, Prosperity Financial Services also valid in EM, especially EM Asia?

20 21 CONGRATULATIONS, MEMBERSHIP CFA® CHARTERHOLDER Membership’s core function is supporting membership enquiries, implementing membership CLASS OF 2019! growth initiatives, liaising with CFA Institute on membership operations and policy changes, and overseeing compliance with local membership bylaws.

We applaud those who became CFA charterholders in 2019 and joined our community of 168,000 MEMBERS 2012 2013 2014 2015 2016 2017 2018 2019 2020 charterholders worldwide. Together, we are building a better world for investing. CFA Institute members 1,788 1,987 2,151 2,396 2,599 2,844 3,112 3,394 3,690 Learn more about how CFA Societies Australia can support you at www.cfas.org.au in Australia SYDNEY Jun Jie Yu, CFA Wendy Sharron McDonald, CFA Luke Andrew Conca, CFA CFA Society Sydney 1,177 1,213 1,331 1,489 1,588 1,673 1,786 1,893 2,068 Abdul Moeed Rana, CFA Justin Barry Appleby, CFA William Paul Dowd, CFA Luke Dean Chinnappa, CFA Adam Michael de Koning, CFA Justin Cheng Yee Teo, CFA Xcent Josh Lee, CFA Marco Alessandro Fantozzi, CFA Alessandro King Biondi, CFA Karri Saryn Grewar, CFA Xiao Xu, CFA Mark Murray Kruger, CFA Alexander Cousley, CFA Kassapa Senadith Manathunga, CFA Xiaoxi Zheng, CFA Melissa Yen-Leng Mun, CFA Alexander Edward James Barkley, CFA Kunal Ashok Lakhani, CFA Xiaoyi Wang, CFA Mong Shan Ee, CFA Alexander George Skotnicki, CFA Lee Michael Kadish, CFA Xuefei Zhang, CFA Neha Gupta Mahajan, CFA Alexander John Lennon, CFA Leiqi Yu, CFA Yanyan Liu, CFA Nicolas Jean-Francois Merigoux, CFA CHARTER AWARDS Alice Camelia Tjahja, CFA Li Ma, CFA Yifan Hao, CFA Nilakshi Mukerjee, CFA Alice Caroline Frank, CFA Louise Martina Elliott, CFA Yifan Zhao, CFA Ning Zhao, CFA The 2019 CFA Charter Awards were held in November at Amay Broota, CFA Mackenzie Louis Mortimer Ross, CFA Yiling Zhang, CFA Nissanke Arachchige Himali N Palpita, CFA Amelia Naidoo, CFA Madeline Ebrill, CFA Zachary Anthony Barnao, CFA Preeti Rathi, CFA Dockside. The event is one of the most enjoyable of the An Nie, CFA Manbir Singh Miglani, CFA Zheng Li, CFA Qi Cao, CFA Andrew James Stewart, CFA Manling Chen, CFA Reece Todd Puklowski, CFA year on the society calendar, with graduates bringing Matthew Charles Wedderburn-Maxwell, CFA MELBOURNE Richard Daniel Stone, CFA Andrew Joseph Manna, CFA Aartee Megnath, CFA Angus David Hewitt, CFA Meline Rosa Nazloomian, CFA Robin Eng Kim Lim, CFA family and friends to celebrate their achievement. This Mengning Teng, CFA Abiodun Daniel Iwaloye, CFA Ronald Lin Sparks, CFA Anwar Raslan, CFA Alexander Silinskiy, CFA Aravin Prathapan, CFA Michael Thomas Andrew Southee, CFA Saritha Nuwansith Endaragalla, CFA event is a wonderful introduction for new members Michele Schiavi, CFA Alexander John Aubrey, CFA Shane Patrick Mulligan, CFA Ashley Peter Jewell, CFA Allan Ruvuga, CFA Asif Ali Khan Narejo, CFA Michelle Maureen Smith, CFA Syed Mazhar Ali Shah, CFA to the society, with CFA Society Sydney directors Milad Rahmaniani, CFA Andrew Pugsley, CFA Thanh T Chau, CFA Axel Thunhorst, CFA Andrew James Stewart, CFA Ben Christopher Raymond Casley, CFA Moaz Mohib, CFA Thomas Alexander Wood, CFA attending and networking with the graduates. We Monica Winn Lai Li, CFA Anh Hai Tran, CFA Timothy John Lang, CFA Benjamin Ryan Atkinson, CFA Annabel Caroline Riggs, CFA Chao Liu, CFA Mowen LI, CFA Tomoya Ikeda, CFA want to thank Maria Wilton, CFA for the wonderful and Natasha Narang, CFA Anqi Yu, CFA Travers Graeme Dean, CFA Charles Alexander Chessell, CFA Aodhagan O’Reilly, CFA Charlotte Denniss, CFA Nelson Frank Castagna, CFA Travis Anthony Collins, CFA inspiring keynote speech. Nicholas Fletcher Edmund Underwood, CFA Bei Sun, CFA Trent James Valentino, CFA Christine Zhou, CFA Benjamin Anthony O’Shea, CFA Christopher Elton Beal, CFA Nigel Raymond John Glover, CFA Victoria Emerald La, CFA Nikhil Chacko, CFA Benjamin Luke Davidson, CFA Weili Kong, CFA Clare Margaret Lewis, CFA Bing Han Timothy Henry Chong, CFA Damen Kloeckner, CFA Niren Naidoo, CFA William Gavin Brennan, CFA Noel Char Kee Chung, CFA Bonnie Jennifer Tran, CFA William Park Lee, CFA VOLUNTEER LUNCH Danwei Peng, CFA Callum Hamish Yule, CFA Darren Zong-Ying Ho, CFA Parth Nathani, CFA Xia Wu, CFA Peter Raymond McCarthy, CFA Chenxi Zhu, CFA Xiaolu Hu, CFA Our second annual volunteer lunch was held in February 2020 with over 60 volunteers attending. It was a chance David Fitzpatrick, CFA Chong Zhang, CFA David Edward Skrzypniak, CFA Peter Wei Yung Chen, CFA Xinling Han, CFA Peyman Tataei, CFA Claresta Gunawan, CFA Yi Qiao Huang, CFA for the directors to thanks all the volunteers who give up their time in a variety of way to help life the profile and Dawei Xu, CFA Comfort Paul, CFA Dong Hwan Kim, CFA Philip Sunpyo Kim, CFA Yi Sean Kong, CFA Priyesh Mukundrai Patel, CFA Constandinos Dimitrios Dermedgoglou, CFA Ying Liang, CFA raise the recognition of the CFA designation in Australia. Edwin Sun Ho Cheung, CFA Daibin Peng, CFA Egon Cardenas, CFA Raymond Christianto, CFA Yingqi Quan, CFA René Wurche, CFA Dan Qing Shi, CFA Yunxiu Tang, CFA Ekagra Gupta, CFA Daniel Pool, CFA Emmanuel Anafo Firempong, CFA Sachin Dhingra, CFA Zhi Pei Tao, CFA Sagar Chitnis, CFA Daniel Anthony Sanelli, CFA Zoljargal Batsaikhan, CFA Erik Arthur Sigierd Bergseng, CFA Davin Santa Ongsono, CFA Evan Metcalf, CFA Sean Yap, CFA Sean Keegan Brown, CFA Denise Meen Ian Yeong, CFA PERTH Fan Yang, CFA Diqian Zou, CFA Diarmuid Gleeson, CFA Fan Yang, CFA Shalini Radha, CFA Shaoran Yuan, CFA Doryon Hilton Zalko, CFA Jacques Henri Rousset, CFA Fanglu Peng, CFA Dylan Mitchell, CFA Shital Sharma, CFA Fangzhao Li, CFA Shehan Cecil Goonesekera, CFA Simon Liam Murray, CFA Dylan Ivor Wedande, CFA Stephanie Graskoski, CFA Garth Alan Barrie McCarthy, CFA Edwin Tanuwidjaja, CFA Steven John Stepanian, CFA Gary Justin Looi, CFA Stephanie Saville, CFA Stephen Andrew Kemp, CFA Elizabeth Mary Paine, CFA Gavin Siyuan Cang, CFA Etjon Basha, CFA BRISBANE Gemma Wright, CFA Stephen Anthony Ragell, CFA Alejandro Madrid Arroyave, CFA Stephen Gordon Maxwell Martin, CFA Florian Jean-Christophe Doux, CFA Gifty Batra, CFA Francis Yu Ching Ng, CFA Corinne Vodenicharov, CFA Guang Rao Lin, CFA Steven Joseph Kassar, CFA Gary Brian Merkel, CFA Tanya Makdissy, CFA Gregory Richard Andrews, CFA Hamish Garth Ninham, CFA Harrison James Tyquin, CFA Jaewon Kwon, CFA Han Chen, CFA Tasneef Ahmed Yazdani, CFA Jesse Daniel Ford, CFA Thiam Foo Cheong, CFA Henry John Farren Wright, CFA Hannah Jane Maclean, CFA Huw Bernard Flanagan, CFA Joseph Adrian Knynenburg, CFA Harrison Richmond Moot, CFA Thomas James Lucas, CFA Kian Nam Loke, CFA Tieying Kang, CFA Isabella Lee Harbour, CFA Ivan Kin Leung Cho, CFA Jack Anderson-McDonald, CFA Liming Cao, CFA Jacky Sheng Ye, CFA Timothy David Dalton, CFA Marina Davydova, CFA Timothy John Dowling, CFA Jack Wenjun Shan, CFA Jae Wan Sohn, CFA Jacqueline Yijia Osborne, CFA Michael Weiliang Wong, CFA Jake Alexander Kellner, CFA Timothy Jon Mugglestone, CFA Pamela Louise Dodd, CFA Timothy Peter Ryan, CFA Jayson Zhensen Lim, CFA © 2019 CFA Institute. All rights reserved. Jake Robert Wilsea-Smith, CFA Paul Thomas Nissen, CFA Timothy Tin-Pui Chiang, CFA Jeremy John Zethof, CFA James Fleiter, CFA Jesse Oliver, CFA Ronghong Huang, CFA James J. Murphy, CFA Todd Winkley, CFA Stephen Alan Conroy, CFA Tom Neugebauer, CFA Jielun Xu, CFA James Lowden Reid, CFA Jing Wu, CFA Thomas Frederick Dahl, CFA Jared Adam Tilley, CFA Tse Ruey Low, CFA Vasilios Papalexiou, CFA Uwe Helmes, CFA Jinwan Kim, CFA Jason Chau Phung, CFA Jonathan Chih Yung Lee, CFA Zhenkun Lei, CFA Jenni Zhai, CFA Valentin Scott Moingeon, CFA Varun Bajaj, CFA Jonathon Thomas Bergliavaz, CFA Jessica Elizabeth MacKillop, CFA Ju Chen, CFA Jessica Shu Yan Leung, CFA Vibhu Vyas, CFA Viktor Tanevski, CFA Ka Mun Ho, CFA Jianlei Han, CFA Kenneth Joseph Mai, CFA Jiarong Zhang, CFA Vinay Ramesh, CFA Vincent James Wales, CFA Kevin Michael Swampillai, CFA Jie Yan, CFA Kieran James Moore, CFA Joanne Gadd, CFA Wei Zhao, CFA Wei Gen Ng, CFA Kondwani Mkhondo Hara, CFA Julia Graca, CFA Kuek Chyuan Low, CFA Jun Yan, CFA Weifan Zhuang, CFA Wen Zhang, CFA Lewis George Einarson, CFA

22 23 CANDIDATE ENGAGEMENT

The candidate education committee is responsible for supporting candidates sitting for CFA Program examinations. The committee is responsible for preparatory courses as well as providing services to all candidates. The 2019/2020 period was a year of two halves. We had our record number of candidates by the end of 2019 but in 2020 CFA Institute had to postpone the June exams due to the pandemic. In 2021, we look forward to supporting candidates on a new exam format, computer-based testing.

ACTIVITIES DURING 2019-2020 AREAS OF FOCUS FOR 2020-2021 • Successfully switched classroom-based prep • Revamp our classroom-based prep courses to suit courses to online webinars. the new timetable under computer-based testing. • Leveraging our reputation, we launched Level 1 • Partner with an external education provider online courses to other Societies in Australia. who can help deliver online prep courses more • Launched a Candidate Membership package to professionally to benefit candidates learning provide more benefits to local candidates and we remotely. have held several networking events for these • Introduce more events for Candidate Members members. including career tips and areas related to the CFA • Increased the participation rate of female curriculum. candidates sitting for Level 1 exam, although more • Support our candidates in transitioning from paper- work needs to be done for Level 2 and 3. based to computer-based testing in 2021. • Continued to engage with universities to ensure a • Coordinate with Employer Engagement, University steady pipeline of Level 1 candidates. Engagement and Member Education committees to increase brand awareness and engagement levels with candidates.

CANDIDATE REGISTRATIONS

Australia FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 December LI 2,223 1,985 1,902 2,214 2,905 4,312 5,908 6,188 June LI 1,441 1,329 1,456 1,819 2,279 3,489 4,243 0 June LII 1,081 1,015 1,086 1,133 1,327 1,839 2,461 0 June LIII 581 586 553 563 629 688 850 0 Grand Total 5,326 4,915 4,997 5,729 7,140 10,328 13,462 6,188 COMMITTEE CHAIR Victoria Tan, CFA Roger Samuel, CFA Portfolio Analyst Sunsuper Reid Kinnaird, CFA CFA Society FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 Head of Telecom, Media and Technology Research Jefferies Fixed Income Specialist Morgan Stanley Sydney Charles Wachira, CFA December LI 1,351 1,187 1,144 1,372 1,903 2,843 3,840 3,942 COMMITTEE MEMBERS Manager APRA June LI 863 800 853 1,156 1,472 2,215 2,709 0 Alex Leung, CFA Max Bonpain Actuary AMP Life Principal TGB June LII 711 665 695 690 835 1,143 1,624 0 Jeff Shen, CFA June LIII 374 384 355 371 403 434 541 0 Analyst Crédit Industriel et Commercial Grand Total 3,299 3,036 3,047 3,589 4,613 6,635 8,714 3,942

24 25 UNIVERSITY ENGAGEMENT

The purpose of the University Engagement Committee is to act as a conduit between CFA Institute, CFA Society Sydney and universities. The team is responsible for the management of the Local CFA Institute Research Challenge and for promoting the benefits of both the CFA Program Partnership and CFA University Recognition Programme to universities within New South Wales, Australian Capital Territory and Queensland.

ACTIVITIES DURING 2019-2020 AREAS OF FOCUS FOR 2020-2021 • Hosted our second annual CFA Society Sydney • Taking our Careers Day virtual with a combination of Careers Day and the Research Challenge Sydney video mini-series and live Q&A sessions for a more 2020 Final at the Wesley Conference Centre on 1 October interactive and broader reach across university 2019, with over 220 students and 10 corporates in students. RESEARCH CHALLENGE 2011 2012 2013 2014 2015 2016 2017 2018 2019 attendance. • Extending the Diversity Committee’s Opening Doors HONOUR ROLL • The University of Sydney represented Sydney and initiative to university students. The University of Sydney W W F W W F W W W became the first Australian university to win the University of Technology Sydney F F F F - P - F P CFA Institute Research Challenge Global Final in The Australian National University F F P P P F P P P March 2020. Macquarie University F P P P F P P P - • Held our first virtual equity research workshop to lift The University of NSW P P P P P P P P F students’ research capabilities further. We had over Western Sydney University P P P P P - - P - 550 registered attendees across NSW, ACT and QLD. Griffith University - F W F P W F F F The University of Queensland - P P F F F F F P University of Wollongong - - F - P - P P P Bond University - - P P F P F P P Queensland University of Technology - - - P P P P P F S P Jain School of Global Management - - - P - P - - - CFA Society Sydney University of Canberra ------P Speakers 2019 Careers Day Agenda TEAMS 6 8 10 11 10 10 9 11 10 P = Participating Team, F = Finalist. W = Winner Opening address Charles Wu, CFA - State Super Emilio Gonzalez, CFA - Pendal, interviewed by Keynote: Emilio Gonzalez, CEO Pendal Sinead Rafferty, CFA - MLC Asset Management COMMITTEE CHAIR Jeff Shen, CFA CFA and Diversity Cassandra Crowe, CFA - CFA Society Sydney Director Frank Li, CFA Assistant Manager, Crédit Industriel et Commercial Assistant Portfolio Manager, Diversified Portfolios, MLC Lyn Ling Jay Chong, CFA - First Sentier Investors Investment Research Analyst, Commonwealth Bank Benn Fitzgerald - Citi Career paths (Panel) COMMITTEE MEMBERS Michelle Smith, CFA Stephen Martin - Challenger Alex Leung, CFA, FIAA Associate Director, Corporate Sales, Westpac Institutional Jeff Shen, CFA - CIC (Moderator) Actuary, AMP Life Bank Berowne Hlavaty - JP Morgan Amy Clements, CFA, CIPM Nicola Du, CFA Alternatives: Machine Learning Investment Specialist, Insight Investment Simon Elimelakh, CFA - MLC Asset Management Group Investments Manager, Ingenia Communities Group Anna Strupinska Shane Woldendorp, CFA Sophie Lumsden - Macquarie Client Service Manager, MFS Investment Management Investment Counsellor, Orbis Investments Meredith Jordan - Platinum Pacific Partners David Cottee, CFA Career tips (Panel) Rebecca Stanley, CFA, ACA Anna Mylonas - Challenger Business Development Manager, Pendal Valuations Manager IB&M, Commonwealth Bank Frank Li, CFA - MLC Asset Management (Moderator) Divyesh Shah, CFA William Nguyen Portfolio Analyst, Investment and Capital Management, Corporate Finance Analyst, Transurban Closing remarks Charles Wu, CFA - State Super University of Sydney

26 27 BRISBANE CHAPTER ENGAGEMENT AND COMMUNICATIONS

CFA Brisbane Chapter was set up in 2012 to provide members and candidates the opportunity Our mission is to facilitate effective engagement with CFA society members and candidates, as to network and advance a range of common goals. Having opened an exam centre last year in well as communicate CFA Institute initiatives across the wider financial services industry. Over Brisbane, we hope this will foster a greater local community while enhancing membership and the year our strategy featured 3 key elements; digital campaigns to drive engagement, video likely pass rates for Queensland. content creation on YouTube to share our messages and holding a virtual event, building your personal brand and helping members develop a digital presence. MAIN OBJECTIVES AREAS OF FOCUS FOR 2019-2020 • Raising the profile of the CFA designation in the • Enhance engagement in a COVID-19 world for CAMPAIGN ENGAGEMENT YOUTUBE Brisbane financial services community. charterholders and those studying towards We advocate the CFA Institute values of ethics, We recognise the power of social networks and are • Providing a forum for ongoing professional achieving the designation education, excellence and inclusion by creating pleased that our CFA Societies Australia digital forums development through a range of local and • Actively engaging with universities strategic campaigns that showcase local themes and such as LinkedIn, Facebook and Instagram continue to international speakers. activities intending to connect authentically with our gather influence and followers every year. To ensure we • Add value to local charterholders members and make a positive contribution to our wider continue to connect with members, candidates and the • Facilitating engagement with regulators and • Enhance diversity community. Our campaigns feature across the various wider industry we focused on video content, housed on opinion leaders. CFA Societies Australia digital channels including; the CFA Societies Australia YouTube site, contributing • Promoting the professional and ethical standards LinkedIn, Facebook, Instagram, YouTube and the web. to more than 10 locally produced videos featuring a articulated throughout the CFA program. Over the year we highlighted ethics and stewardship range of members and staff. Of note, we supported • There are over 175 CFA society members in as paramount to elevate financial services as a the Member Education Committee in its endeavour to Brisbane/Queensland and a much larger number purposeful profession as well as built awareness of launch a series of event highlight videos and supported of CFA Candidates currently enrolled in the CFA core events such as the 2020 International Women’s a leadership video to reassure members that we remain Program. Day celebration and the 2019 CFA Societies Australia as connected as ever during the COVID-19 pandemic. Conference - Beyond Disruption. One campaign The below snapshot from our YouTube page highlights launched over the year, specifically showcased and the range of videos supported by the team over the EVENTS DURING 2019-2020 thanked our key contributors - our volunteers - who year. passionately give back to the industry through Brisbane Chapter | Brisbane Social Event | 26 September 2018 77 partnering with our CFA Societies. Our video promotion featured CFA Charterholders and volunteers; Sandi Brisbane Chapter | Ethics in Finance | 17 October 2018 28 Orleow, Frank Li, Jemima Joseph, Roger Samuel and Raj Gohil (as shown below). Brisbane Chapter | Awards and Speaker event | 1 November 2018 59

Brisbane Chapter | Active Global Equity Funds | 16 November 2018 39

Brisbane speaker event - 31 January 2019 63

Brisbane Chapter | Easter Networking Event - Thursday 18 April 2019 47

Brisbane Chapter Post-Exam Drinks | 15 June 2019 32

Brisbane Chapter | End of Financial Year event | 27 June 2019 46

BRISBANE CHAPTER COMMITTEE Mark O’Flynn, CFA University Engagament Jake Koundakjian, CFA President & Secretary Rein Van Rooyen, CFA Member Education & Social Anuk Manchanda, CFA Secretary & Employer Engagament Michael Jessop, CFA Candidate Education Gemma Lynam, CFA Treasurer Sofia Bennedetti, CFA Diversity & Communications Ken Howard, CFA Mark Whittaker, CFA University Engagament & General University Engagament & Research Challenge Jake Matthews Co-Ordinator/Secretary

28 29 ENGAGEMENT AND COMMUNICATIONS RESEARCH

HELPING MEMBERS BUILD PERSONAL BRAND - NATIONAL ZOOM EVENT ANU AND CFA INSTITUTE AUSTRALIAN CAREER FACTORS STUDY - COMING SOON During the COVID-19 pandemic we held a professional development workshop - Positioning yourself professionally We are pleased to report that an Australian based research study is underway to assess a range of factors that can online and building presence on LinkedIn - with more than 100 members joining us across Australia for a live virtual potentially influence careers across the financial services industry. The research will assess the impact of factors event. LinkedIn is the world’s largest professional platform with more than 645 million users and has become the such as; education, experience, gender, and race as some examples, through a quantitative factor study working first impression for today’s finance professional making active engagement essential for career development. to understand what elements impact careers in Australia, in the financial services sector. The research was Cassandra Crowe, CFA, (Director CFA Society Sydney) illustrated the relevance of social influence and workshopped originally supported by the Australian National University (ANU) and has since been supported by the CFA Institute, how we can all learn from the experiences of past President and CEO CFA Institute Paul Smith, CFA, and current University Technology Sydney (UTS) and 100 Women in Finance making this work a truly collaborative piece. We President and CEO CFA Institute Margaret Franklin, CFA, in building legendary LinkedIn engagement and impact. look forward to sharing the findings with members in the coming year. While Erica Hall (Senior Manager, Morningstar), outlined the mechanics behind the LinkedIn algorithm and how it can be utilised to build an All-Star profile.

CONTRIBUTORS AND PROJECT TEAM Sarah Maynard, CFA Dr. Laura Ryan Global Head Inclusion and Diversity, CFA Institute Head of Research, Ardea Richard McGillivray Dr. Bronwen Whiting Senior Director, CFA Institute Senior Lecturer, ANU Macy Yan Ganesh Suntharam, CFA Director, CFA Institute Investment Director Redpoint and President Society Lisa Carroll Sydney CEO, CFA Societies Australia Cassandra Crowe, CFA VP, T. Rowe Price and CFA Director Society Sydney

COMMITTEE CHAIR COMMITTEE MEMBERS - STAFF Cassandra Crowe, CFA Lisa Carroll T. Rowe Price VP CEO CFA Societies Australia COMMITTEE MEMBERS - VOLUNTEERS Michaela Francis Executive Director, CFA Society Sydney Chris Tse, CFA Mary Masters Investment Manager, Sunsuper Executive Director, CFA Society Melbourne Jemima Joseph, CFA Juliet Coghlan Manager Investment Relations and Reporting, Cbus Allan Ruvuga, CFA Events and Administration CFA Society Perth Portfolio Execution, Analyst Cbus Tim Dowling, CFA We are proud this portfolio team takes on a national Research Relationships Manager, Allianz Retire+ composition and includes both volunteers and staff. Emily Reilly, CFA Senior Manager, Deloitte

30 31 FINANCIAL REPORTS

33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 www.cfas.org.au