Annual Debate 2016
The AIMA Canada Education & Research Committee presents:
The 13th Annual AIMA Canada Debate
Are Hedge Funds Coming to a Canadian Bank Branch Near You?
Be it Resolved: liquid alternatives are the future of the (Canadian) alternative investment industry
The CSA has released a proposal that would allow prospectus mutual funds purchased by retail investors to use hedge fund strategies and tactics (up to 300% leverage, up to 50% shorting). Once Canadian bank branches add hedge funds to their product offering to all investors, how will the retail investment landscape change going forward and how might this benefit both investors and the industry?
The mutual fund industry grew from $40 billion in the mid-1990s to more than $1 trillion presently. Will the $35 billion hedge fund industry grow by leaps and bounds over the next 5 to 10 years once hedge funds are embraced by retail investors and their advisors?
Our two adversaries will put forth arguments that the future of the alternative investment industry lies in the forthcoming change in regulation, allowing liquid alternatives to be readily available for retail investors. Each will take a stance on how liquid alternatives might affect the industry and how traditional alternatives might be viewed on their own merits with an equally important role in the growth of the industry.
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PRO:
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Josh Levine, Managing Director, is the Head of BlackRock Alternatives Specialists (BAS) for the Americas, overseeing business development for BlackRock's hedge fund, private equity, real estate, and infrastructure platforms. Mr. Levine's prior responsibilities with BlackRock include Co-Head of US Pensions and Director of the Americas Institutional team. Mr. Levine's service with the firm dates back to 2004, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. He worked in a variety of functions at Merrill Lynch, where his career culminated as First Vice President of the Institutional Advisory Division. In that capacity, he was responsible for market transactions across the capital structure, focusing primarily on emerging markets fixed income, credit derivatives, equities, hedge funds, and private equity. Mr. Levine was previously Executive Vice President of the Permal Group, where he was responsible for developing and executing the firm's overall institutional strategy and global business development. Mr. Levine began his career at Maersk Inc., the world's largest shipping line. Mr. Levine earned his BA degree in International Affairs from the University of Colorado, and a Masters in International Affairs, focusing on International Economic Policy, from Columbia University, where he was named to the International Fellows program. |
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CON:
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Francois Bourdon is Chief investment Solutions Officer at Fiera Capital. In this role, Mr. Bourdon supports business units in the development of new investment strategies, in collaboration with the CIO Office. He is also responsible for communicating Fiera Capital’s views related to the economy and investments and is jointly responsible for asset allocation decisions as well as for the management of a number of alternative strategies. Mr. Bourdon has been with Fiera Capital since 2002 as Portfolio Manager, Qualitative Research. Prior to that he worked at Desjardins Financial Security as Director and an Acturarial Consultant (with Desjardins Financial Security). Mr. Bourdon earned his BMath in Actuarial Sciences from Concordia University in 1995, his Chartered Financial Analyst Certification (CFA) in 2001, followed by a Professional Risk Manager Certification (PRM) in 2003. |
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Moderator:
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Josh Levine
Limited seating available
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