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Toronto CFA Society & Hillsdale Canadian Investment Research Award Reception
Date: Mar 6, 2011
Location: Toronto, ON
Toronto CFA Society was happy to announce that Dr. Pauline Shum is the first recipient of their newest award, the Toronto CFA Society & Hillsdale Canadian Investment Research Award, for her research paper entitled “The Long and Short of Leveraged ETFs: the Financial Crisis and Performance Attribution.”
“Professor Shum’s paper provides an extremely useful framework for practitioners to use in their analysis of ETFs,” according to Chris Guthrie, CFA, President & CEO, Senior Portfolio Manager and Founding Partner, Hillsdale Investment Management Inc. He went on to say that:
“Ms. Shum has disaggregated the relative performance of ETFs into three distinct components, namely the compounding effect of hold periods of more than one day, the managers’ effectiveness and costs of achieving their objectives, particularly across multiple time periods, and lastly, the efficiency of ETFs in maintaining a small premium or discount to NAV. Pauline’s paper was chosen from among 15 high quality submissions for the Toronto CFA Hillsdale Research Award, proof that Toronto CFA Society’s and Hillsdale’s objective of supporting high quality investment research is being met. Congratulations to Peter Jarvis, CFA, Executive Director of Toronto CFA Society and to Harry Marmer, CFA, Executive Vice President of Hillsdale Investment Management Inc., for establishing this award. Hillsdale looks forward to next year’s submissions with great anticipation.”
The winner, which was announced at a Toronto CFA Society Awards Reception on March 3rd, received a research award of $10,000 CAD.
Award winner, Pauline Shum, reflected: “I am thrilled to be the winner of the inaugural Toronto CFA Hillsdale research award. It is an honour for my work to be recognized by renowned professionals in the field”.
Hillsdale President and CEO Chris Guthrie & Toronto CFA Society & Hillsdale Canadian Investment Research Award Winner, Pauline Shum