3rd One-Day Conference on Professional Asset Management

Speakers

Jeroen Derwall

School of Business and Economics, Maastricht University

Harrison Hong

Department of Economics, Princeton University

Keith Brown

McCombs School of Business, University of Texas at Austin

Tong Yao

Henry B. Tippie College of Business, The University of Iowa

Jerry Parwada

UNSW School of Banking & Finance, University of New South Wales

Jenke Ter Horst

Faculty of Economics and Business Administration / CentER, Tilburg University

Peter Lueckoff

Faculty of Economics and Business Studies, Justus Liebig University Giessen

Nicolas Bollen

Owen Graduate School of Management, Vanderbilt University

Abstract

In cooperation with CFA Netherlands, the Finance Group of Rotterdam School of Management, Erasmus University organizes a one-day academic conference on professional asset management. The main objective of the conference is to present and discuss recent advances in academic research on mutual funds, hedge funds, pension funds, and other forms of delegated portfolio management. The conference will host a limited number of paper presentations with designated discussants and ample time for discussion and interaction.

Preliminary program

09.00-09.30	Registration
09.30-09.35	Welcome
09.35-11.05	Session 1 Chair: TBA
	“Do Hedge Funds Profit From Mutual-Fund Distress?”
	Joseph Chen (USC), Samuel Hanson (Harvard University), Harrison Hong (Princeton University) and Jeremy C. Stein (Harvard University and NBER)

	Discussant: Marno Verbeek (Rotterdam School of Management)

	“Staying the Course: The Role of Investment Style Consistency in the Performance of Mutual Funds”
	Keith Brown (University of Texas at Austin), W. V. Harlow (Fidelity Investments) and Hanjiang Zhang (McCombs School of Business)

	Discussant: Laurens Swinkels (Robeco Asset Management and Erasmus School of Economics)

11.05-11.35	Tea/Coffee
11.35-12.35	Session 2 Chair: TBA
	“Uncommon Value: The Investment Performance of Contrarian Funds”
	Kelsey Wei (University of Texas at Dallas), Russ Wermers (University of Maryland) and Tong Yao (University of Iowa)

	Discussant: Pieter Jelle van der Sluis (APG Asset Management)
	“Red-Blooded Republican or True-Blue Democrat? The Influence of Political Preferences on Money Managers’ Portfolio Decisions”

	Amanda Chin and Jerry Parwada (The University of New South Wales)

	Discussant: Kelsey Wei (University of Texas at Dallas)
12.35-14.00	Lunch
14.00-15.30	Session 3 Chair: Hao Jiang (Rotterdam School of Management)
	“REIT Momentum and Real Estate Mutual Fund Peformance”
	Jeroen Derwall (Maastricht University), Joop Huij, Dirk Brounen and Wessel Marquering (Rotterdam School of Management)

	Discussant: Martin Martens (Robeco Asset Management and Erasmus School of Economics)

	“Being Locked Up Hurts”
	Frans de Roon, Jinqiang Guo, and Jenke ter Horst (Tilburg University)

	Discussant: Gerben de Zwart (ING Investment Management)
	“Why is Persistent Mutual Fund Performance so Difficult to Achieve? The Impact of Management Turnover and Fund Flows”

	Wolfgang Bessler (Justus-Liebig-University Giessen), David Blake (Cass Business School), Peter Lückoff (Justus-Liebig-University Giessen) and Ian Tonks (University of Exeter)

	Discussant: Guillermo Baquero (ESMT European School of Management and Technology)

15.30-16.00	Tea/Coffee
16.00-16.45	Session 4 Chair: Hao Jiang (Rotterdam School of Management)
	“Locked Up by a Lockup: Valuing Liquidity as a Real Option”
	Andrew Ang (Columbia Business School) and Nicolas Bollen (Vanderbilt University)

	Discussant: Jenke ter Horst (Tilburg University)

16.45-17.00	Discussion and concluding comments

Download complete program

Registration

To register for this conference, please send an e-mail message to Myra Lissenberg, mlissenberg@rsm.nl, with your name and affiliation (as you wish to appear it on the conference badge). The registration fee is € 200 and includes lunch, coffee/tea and copies of the papers. For CFA charter holders and VBA members a reduced fee of €175 applies. Registration of participants from academic institutions is free. The deadline for registration is Friday 13 March 2008.

The appropriate registration fee should be transferred to RSM Erasmus University, account number ABN/AMRO 42.90.14.155 (IBAN: NL67ABNA0429014155), mentioning “PAM conference 5025001519”. Please contact Myra Lissenberg, mlissenberg@rsm.nl, if you wish to receive an invoice.

This conference is made possible by financial support from Robeco, the European Pension Academy, the Erasmus Research Institute of Management (ERIM) and the Vereniging Trustfonds Erasmus Universiteit Rotterdam.

Type: Conference
Programme: Finance & Accounting
Date: Fri. 20 Mar. 2009
Time: 00:00
Location: Erasmus University Rotterdam, Burg. Oudlaan 50

Marno Verbeek

Professor of Finance

Rotterdam School of Management (RSM), Erasmus University Rotterdam

Joop Huij

Associate Professor in Finance

Rotterdam School of Management (RSM), Erasmus University Rotterdam

3rd One-Day Conference on Professional Asset Management

Abstract

Information

Coordinators