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									                                         CFA VICTORIA
             Minutes of the Meeting of the Board of Directors and Executive

DATE:           August 7, 2008
LOCATION: Barlow Capital. 730 View Street, 3rd Floor
PRESENT:        Andrew Shortreid, Jeff Good, Trent Moore, Rob Bennett, Jill Sing, Philippe Monier
REGRETS:        Carolyn Thoms, Jeff Hamel, Jeff Hunter, Anna Nemeth, Yan Lyesin, Gord Walker

     Meeting was called to order at 1:10pm with Andrew Shortreid appointed to act as Secretary.

   1) Approval of Minutes of the July 9 meeting.
        The minutes were reviewed by all. Andrew Shortreid moved to approve the minutes. The motion was
        seconded by Trent Moore.

   2) Programming Update
        In the first part of the programming update, Andrew presented a table outlining the potential topic
        categories brainstormed at the Programs Committee meeting in July. Each event listed had an example
        of a target speaker and an indication of whether the speaker would be appealing to just industry
        professionals, or if there was the chance for a broader draw. As well, potential location options for each
        speaker were given as downtown, close to BCIMC, or close to UVic. Many were suitable for all three.
        Options for the time of day were also given as being either lunch, ort another time. Finally , a board
        member with some natural advantage or interest in the subject area of the event was highlighted to
        pursue tracking down a speaker.

        Andrew was given responsibility for recruiting presenters on “the Psychology of Investing”, Agriculture
        Investment, the Credit Markets, the Canadian Real Estate market, and Real Assets. As well, Andrew
        was going to see if he could get Gordon Campbell to speak to the society through a contact. Philippe
        accepted responsibility to recruit speakers on Energy Policy, and from the Conference Board of Canada /
        World Bank / Institute for Research on Public Policy. Jeff Hunter was asked in his absence to track
        down someone from Private Equity and the company Bloomberg. Jill Sing was asked to recruit someone
        to speak on family office.

        In the second part of the programming update, Andrew presented a list of the Speaker Retainer Program
        speakers that he was going to request on behalf of the society. The list was drawn from responses
        received by Andrew from numerous board members and included 7 speakers in a wide variety of areas.
        The board reviewed and approved the speaker list which contained the following entries:
   Speaker                  Topic
   Lisa Gray                Integrated Wealth Management and the Family Office
   Jamie Ziegler            Best Practices of Top Performing Investment Teams
   Lawrence Kochard         Foundation and Endowment Investing
   Richard Hokensen         Demographics and the Impact on Investment Opportunities
   Vitali Katsenelsen       Active Value Investing
   Jay Taparia              How to Start Your Own Money Management Firm
   Steve Sitao Xu           Perspective on China’s Banking System and the Exchange Rate

3) Forecast Dinner
   Andrew reported on a strategy meeting that he had with Tony Gage on the forecast dinner. Andrew
   thought that a panel of speakers would make the event easier to run and provide for more interaction
   with the attendees. Tony indicated that he would be willing to be on the panel.
   Andrew mentioned that they are still looking for two other speakers and someone to act as Moderator. It
   was suggested that we try to lure someone from the financial media to moderate, which all thought was a
   good idea. The notion of having a student forecaster was discussed and thought to be a novelty that the
   event could do without. The search is ongoing.

   On the sponsorship front, Andrew created a template that was going to be used to determine which
   benefits would be available to sponsors at each level of participation. The plan was to lock in Custom
   House as the platinum level sponsor, with 3 gold level sponsors (one media source, one stock exchange,
   and one ETF manager were suggested). The packages could then be further tailored to be more attractive
   to different types of sponsors. Andrew left the template with the board and said he would check back
   before the next meeting.

4) Public Awareness
   Jeff Good noted that we had used up our entire PA budget for 2007 / 2008, and explained to the board
   that most of what we would normally spend our 2008 / 2009 budget on was covered off by the
   Community Outreach Challenge award we received. As a result, the US$5,000 in PA spending available
   to the society for the coming year is mostly discretionary money that can be used for other outreach and
   awareness initiatives.

   Suggestions that were tabled included:
            Commissioning some additional logo’d merchandise, as current stocks are low
            Spending more money on educational / sponsorship initiatives
            Spending some funding on capital goods that would enable us to support / leverage some of our
             other investments, such as the Paint-In and Warhol exhibitions.

   These were all considered to be good ideas and Jeff said that he would investigate and report back to the
5) Membership
   Jeff Hamel was unable to attend, but wroth in an email to the board earlier in the week that membership
   presently stood at 80 and that he expected it to rise after the exam results cam back in August, a typical
   pattern of seasonality.

6) Education
   Rob presented a calendar that he had built showing the university / college events throughout the year
   that the society had typically hosted or participated in. Highlights of the list included the scholarship
   program, university outreach presentations, study group organization, and the mock exam.

   The subject of participating in the UVic Career Fair was raised. While the society used to be a regular
   attendee in the past, we had not had a presence there for a number of years. The reason was that the cost
   of a booth had risen dramatically. Now with the society’s improved capital position it was thought that
   we could have another look at attending this event. It was noted that there is a university wide career
   fair and a business / economics career fair. The board thought that the latter was a far more worthy event
   to spend time promoting the designation at.

   Andrew announced to the board that he had been approached by the CFA societies on Vancouver and
   Calgary about partnering with UVic and entering a team in a Western Canadian Investment Challenge, a
   regional qualifying event for the CFA Institute’s 2nd Annual Global Investment Challenge. Other schools
   potentially participating are UBC, SFU, U of C, U of A, and U of Sask. Under the terms of the program a
   Charterholder affiliated with the society and a faculty member from a local university mentor a team of 4
   to 6 students through the exercise of writing and presenting a research report to a panel of industry
   experts. Andrew said that Tony Gage was already on board as the mentor and that the CFA Institute
   would provide US$5,000 to cover the expenses of the program through to the global finals. The board
   thought this to be a good initiative to pursue and it was left with Andrew and Rob to pursue this with

7) Signing Officers
   Andrew said that he had made arrangements for Carolyn and Jeff Hunter to complete their transitions to
   signatory status and that the paperwork was waiting at the bank.

8) New Business
   No other new business was raised

9) Next Meeting
   The next meeting was set for September 10th at 12pm at Barlow Capital.

10) Adjournment
   The meeting was adjourned at 1:25pm

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