THE REAL ASSETS STORY

Please join us for lunch on Thursday March 17th, 2016 at the Fairmont Palliser Hotel, 133 – 9 Ave. SW Calgary.

Many investors are seeking to add Real assets to their portfolio as they can be effective in hedging increasing rates of inflation, provide volatility reduction, and long term return enhancement. Assets that have been considered to hedge inflation risk include equities, real estate, commodity futures, farmland, timberland, inflation-linked bonds, infrastructure and master limited partnerships. Each of these assets varies in its ability to hedge inflation risks, as well as in the liquidity provisions.  

Please join Keith Black, Managing Director of Curriculum and Exams at the CAIA Association and Michael Underhill, Author of The Handbook of Infrastructure Investing and CIO at Capital Innovations, LLC for an interactive discussion of these topics to be followed by question and answer session.

Guest Speakers 

Michael Underhill Founder & Chief Investment Officer at Capital Innovations, LLC Renowned for his insightful assessments if market opportunities and risk, Michael is frequently sought out by the world’s leading Real Asset investors. He is responsible for overseeing all aspects of the firm’s investment process and is focused on the strategic direction of the firm. Recognized for his expertise, he is frequently asked to speak on topics such as investment policy, portfolio management, and the risk characteristics of Real Asset investing. He is a regular contributor to Bloomberg’s Market Sense program, CNBC, & Money Moves with Deirdre Bolton.

Michael has published widely on international economic and finance topics and is author of the bestselling Handbook of Infrastructure Investing. (recommended by the CFA Institute) He remains one of the world’s most provocative, respected financial analysts in the last 24 years. His alternative investment strategies have won numerous awards for performance.

His academic work has been published in top academic journals such as the CFA Institute, EDHEC Risk Institute and leading think tanks like the Inter American Dialogue. His research has been published by some of the leading industry trade journals: Wall Street Journal, New York Times. He is a guest speaker for the Wharton Executive Education program. In 2011, Michael was appointed by United Nations Principles of Responsible Investment (UNPRI) to Chairman of the Infrastructure work stream to lead drafting of the first investment principles.

Private Asset Management named him as one of the Best Money Managers for Long-Term Performance.

Keith Black, Ph.D., CAIA, CFA Keith Black has over twenty years of financial market experience, serving approximately half of that time as an academic and half as a trader and consultant to institutional investors. He currently serves as Managing Director of Curriculum and Exams for the CAIA Association. During his most recent role at Ennis Knupp + Associates, Keith advised foundations, endowments and pension funds on their asset allocation and manager selection strategies in hedge funds, commodities and managed futures. Prior experience includes commodities derivatives trading at First Chicago Capital Markets, stock options research and CBOE market-making for Hull Trading Company, and building quantitative stock selection models for mutual funds and hedge funds for Chicago Investment Analytics.

Dr. Black previously served as an assistant professor and senior lecturer at the Illinois Institute of Technology's Stuart school, where he taught courses in both traditional and alternative investments. He contributes regularly to The CFA Digest, and has published in a number of journals, including The Journal of Trading, The Journal of Investing, The Journal of Alternative Investments, and The Journal of Derivatives and Hedge Funds. He is the author of the book "Managing a Hedge Fund," as well as a contributor to the second of edition of the CAIA Level I and Level II textbooks. Dr. Black was named to Institutional Investor magazine's list of "Rising Stars of Hedge Funds" in 2010. Dr. Black earned a BA from Whittier College, an MBA from Carnegie Mellon University, and a PhD from the Illinois Institute of Technology. He has earned the Chartered Financial Analyst (CFA) designation and was a member of the inaugural class of the Chartered Alternative Investment Analyst (CAIA) candidates.