2022 Hillsdale Investment Management – ​​CFA Society Toronto Research Award Winner, The Canadian Business Journal

TORONTO, Oct. 13, 2022 (GLOBE NEWSWIRE) — Congratulations to the winners of the 2022 Hillsdale Investment Management – ​​CFA Society Toronto Research Award. This year’s award-winning paper, Outsourcing Funds and Risk-Taking: A Tale of Two Contracts, was authored by Sorin Patel of Western University’s Ivey School of Business, John Hung Lee of Vanderbilt University’s Owen School of Management, and Shyam Venkatesan . His Ivey Business School at the University of Western Ontario.

“The award-winning paper highlights the importance of well-structured incentive agreements, such as co-branding, co-management, co-location and performance-based fees, in correcting for the asymmetrical returns of typical investment management agreements.” The authors found that the introduction of these measures reduces the ‘risk shift’ that leads to significant well-being losses by investors in outsourced funds. we wholeheartedly agree. Chris Guthrie, CFA, President and CEO of Hillsdale Investment Management, said:

The Hillsdale Investment Management – ​​CFA Society Toronto Research Award is open to global researchers conducting research related to the Canadian capital markets, including both academics (such as professors and students) and practitioners. Research papers are reviewed by a panel of CFA charterholder investment professionals to ensure they are in line with the rigorous values ​​and standards embodied in the CFA credential.

“Partnering with CFA Society Toronto to support and encourage applied research efforts is consistent with Hillsdale Investment Management’s commitment to continually invest in the process of generating the highest quality strategies for our clients. Harry Marmer, CFA, Executive Vice President and Partner, Hillsdale Investment Management, said:

Abstract of research paper

“Exploring the impact of compensation agreements on the choice of contingent risks in outsourced mutual funds. Twice as much ‘strategic’ risk shifting as a fund managed with Furthermore, we demonstrate that compensation agreements and outsourcing status are causally related to risk shift. Our evidence indicates that this behavior is more consistent with the motives of managing the risk of contract termination and less consistent with the motives of exploiting selectivity in portfolio her managers’ compensation contracts. Fund families may employ additional mechanisms to mitigate the inherent risk-shifting behavior of outsourced managers. “

Media Contacts CFA Society Toronto

Esther Filer, Manager, Marketing and Communications
CFA Society Toronto
Phone: (416) 366-5755 X 235
Email: [email protected]
Twitter: @cfatoronto

About CFA Society Toronto
Founded in 1936, CFA Society Toronto is the global leader in the investment profession by promoting the highest standards of ethics, education and professional excellence for the ultimate good of society. Part of a worldwide network. CFA Society Toronto is the largest association in the global financial markets with over 160, representing the interests of his over 11,000 investment professionals in the Greater Toronto area through advocacy, education, events and professional development . For more information, visit http://www.cfatoronto.ca or follow us on Twitter @cfatoronto and LinkedIn CFA Society Toronto.

About Hillsdale Investment Management
Hillsdale Investment Management is an independent, employee-managed, client-tailored investment boutique that celebrates more than a quarter-century of investment excellence, serving select institutional and retail investors. offers. Hillsdale is committed to disciplined active investment management, specializing in equities, alternatives, ESG and customized mandates. Hillsdale is recognized for investment and service excellence. This is a reflection of the constant pursuit of research and development and the dedication of our employees. For more information, please visit www.hillsdaleinv.com.

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• 2022 Hillsdale Investment Management – ​​CFA Society Toronto Research Award Winner

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