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Mr. Alexander Flatscher_ CFA

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Mr. Alexander Flatscher_ CFA Powered By Docstoc
					             The Hong Kong Society of Financial Analysts

                                          Presents a Luncheon on



        “Qualitative Factors in the Investment Process –
       The Importance and Role of Corporate Governance
                   in Investment Decisions”


                                            28th July 2009 (Tuesday)
                                             12:45 p.m. – 2:00 p.m.


                                       HKUST Business School Central
                                 15th Floor, The Hong Kong Club Building
                                     3A Chater Road, Central, Hong Kong




HKSFA is recognized by The Securities and Futures Commission (SFC) as an institution for providing
Continuous Professional Training (CPT) Program. This event is qualified for 1 CPT hour.

As the recognized institution approved under SFC’s CPT Program, the 1 CPT hour of this event is to
receive due recognition from the Mandatory Provident Fund Scheme Authority (MPFA) as non-core
CPD hours.

This event is also qualified for 1 Continuing Professional Development (CPD) Hour for Registered
Business Valuers (RBV) of Business Valuation Forum (BVF).



                       As a participant in the CFA Institute Approved-Provider Program, the Hong Kong Society
                       has determined that the above event qualifies for credit for the CFA Institute Professional
                       Development Program. Eligible for 1 CE credit hour.



Suite 1604, 16th Floor, The Hong Kong Club Bldg., 3A Chater Road, Central, Hong Kong
Tel: (852) 2521 2543 Fax: (852) 2869 4800 E-mail: info@hksfa.org URL: http://www.hksfa.org   A MEMBER SOCIETY OF CFA INSTITUTE
        “Qualitative Factors in the Investment Process –
       The Importance and Role of Corporate Governance
                   in Investment Decisions”
Qualitative factors are very often overlooked, or their impact is many times not sufficiently
considered in the investment decision process. This is despite the fact that there have been
numerous cases where qualitative factors have eventually resulted in investors loosing all their
investments. One such important factor is corporate governance, and, as evidence shows (e.g.
Enron), its impact is not only felt by equity investors but also by bondholders.

HKSFA is pleased to have the opportunity of having Mr. Alexander Flatscher, CFA, to present a
luncheon on the topic “Qualitative Factors in the Investment Process: The Importance and Role of
Corporate Governance in Investment Decisions”. In this presentation, the speaker will explain
the importance of evaluating corporate governance practices as part of the investment decision
process, as well as, its strong relationship with investment performance. After presenting the
results of academic research studies, a concrete evaluation concept will be introduced while
referring to real-life examples, in which investors could have avoided huge losses had they
looked at corporate governance issues before investing. Besides, in contrast to this, the
implications of good corporate governance on equity and bond investments will be shown. In
order to avoid potential misunderstandings, a number of differences between the concepts of
corporate governance and corporate social responsibility will be touched upon, and implications
relating to investment strategy will be introduced.



About the Speaker:

Mr. Alexander Flatscher, CFA
CEO, ACA Global Co., Ltd.,
Tokyo, Japan

Currently CEO at ACA Global Co., Ltd., a Tokyo based investment consultant, Mr. Flatscher
previously represented GovernanceMetrics International (GMI), an independent global ratings
and research agency specializing in the research of corporate governance practices at listed
companies, in Japan. Before that, while at Dresdner Kleinwort Wasserstein Securities in Tokyo,
he advised Japanese institutional investors on non-Japanese equity investments. Mr. Flatscher
graduated with an MBA from Keio Business School in Japan and has been a CFA charterholder
since 1998. Author of "Kooporeto Gabanansu No Hyoka Ni Motoduita Toshi No Susume -
Meigara Sentaku No Shin Choryu" (Toyo Keizai Shinposha, October 2006; English subtitle:
“Reducing Risk – The Importance of Corporate Governance”), he frequently lectures on the
importance of corporate governance in the investment process to investors, bankers and also
occasionally to individual investors, among others. He presented at such institutions as the
Ministry of Economics, Trade and Industry in Japan, the Pension Fund Association in Japan, the
CFA Society Japan, the American Chamber of Commerce. Also he lectures at Waseda University,
the top private university in Japan, as part of their ethics courses. He is often quoted in the
Nikkei, IR Magazine etc.

Suite 1604, 16th Floor, The Hong Kong Club Bldg., 3A Chater Road, Central, Hong Kong
Tel: (852) 2521 2543 Fax: (852) 2869 4800 E-mail: info@hksfa.org URL: http://www.hksfa.org   A MEMBER SOCIETY OF CFA INSTITUTE
         “Qualitative Factors in the Investment Process –
        The Importance and Role of Corporate Governance
                    in Investment Decisions”

Venue : HKUST Business School Central
        15th Floor, The Hong Kong Club Building, 3A Chater Road, Central, HK

Date:        Tuesday, 28th July 2009

Time:        Registration – 12:45 p.m.
             Presentation – 1:00 p.m.
             (Sandwiches and drinks will be served)

Fee:         HKSFA Member(s) at $100/person
             CFA Candidate(s) for Year 2008/09 at $150/person
             Guest(s) and non- Member(s) at $200/person


Registration :

1.     Interested parties are requested to register online at http://www.hksfa.org.
2.     Registration is only confirmed upon receipt of payment.
3.     After completing the online registration and payment process, registrants will receive email
       notifications with registration details. A reminder will also be sent before the event begins.
       If you have not received the email notification and reminder from HKSFA, it is the
       delegate’s responsibility to contact HKSFA to confirm their place.


Policy for Substitutions, Cancellations and No Show :

1.     An administration fee HK$50 will be charged for any cancellation of confirmed enrollment.
       All cancellation requests must be made in writing, be confirmed by email from HKSFA.
2.     Registrations should be paid in full before the commencement of the event. Immediate
       payment is required upon email confirmation. Full amount will still be charged for no
       show or enrolment made after 21st July 2009. Should the registration fee remains outstanding,
       HKSFA reserves the right to disallow entrance to the event.
3.     Refund of the event fee (less an administration fee of HK$50 per person) will be given for
       cancellation received on/before Tuesday, 21st July 2009. For payment made by credit card,
       refund will be handled through the bank, please allow 4 to 6 weeks for processing. The
       amount will be refunded to the paid credit card account.
4.     No refund will be given for cancellation received after 21st July 2009.
5.     Substitutions are allowed. Please notify us prior to the event. Non-member rate applies
       if the substitute is not an HKSFA member.
6.     To be awarded CPT/CPD/CE credit hours, full attendance of all parts of the event is
       required.

Suite 1604, 16th Floor, The Hong Kong Club Bldg., 3A Chater Road, Central, Hong Kong
Tel: (852) 2521 2543 Fax: (852) 2869 4800 E-mail: info@hksfa.org URL: http://www.hksfa.org   A MEMBER SOCIETY OF CFA INSTITUTE

				
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