Viele Investoren verbinden Krypto noch immer ausschließlich mit Bitcoin. Doch die wirklich wegweisenden Innovationen entstehen heute in ganz anderen Segmenten des Kryptomarktes: Stablecoins verändern die digitale Zahlungsinfrastruktur und wickeln monatlich Transfervolumina im Billionenbereich ab. Und die Tokenisierung wird den traditionellen Finanzmarkt grundlegend transformieren. Larry Fink und andere Branchengrößen gehen davon aus, dass am Ende sämtliche Finanz-Assets dieser Welt über Blockchains abgewickelt werden.

​Wir ordnen diese Segmente ein und zeigen, welche Investment Cases dahinterstehen. Isoliert betrachtet greifen sie jedoch zu kurz: Hinzu kommen zwei Entwicklungen, die in der Diskussion um Krypto bislang kaum vorkommen, für die Bewertung der Asset-Klasse aber ebenso entscheidend sind.

​Krypto als Hedge gegen KI-Disruption

​Künstliche Intelligenz verändert Geschäftsmodelle, Märkte und Portfoliorisiken und trifft dabei genau jene Sektoren, die in klassischen Aktienportfolios hoch gewichtet sind. Gleichzeitig braucht eine zunehmend autonome Maschinenökonomie eine Zahlungs- und Verifikationsschicht, wie sie die traditionelle Finanzinfrastruktur nicht bereitstellen kann. Krypto-Assets eröffnen Investoren den Zugang zur nächsten Evolutionsstufe der KI-Adoption, jener Phase, in der Agenten nicht nur recherchieren, sondern eigenständig beauftragen und bezahlen. Diese Sicht wird inzwischen auch von großen Häusern wie Franklin Templeton vertreten. Entscheidend ist dabei die Differenzierung: Profitieren wird nicht der Kryptomarkt als Ganzes, sondern bestimmte Schichten dieser Ökonomie. Welche das sind, ist Teil des Vortrags.

​Der Generationentransfer als Nachfragetreiber

​In den kommenden Jahren wechselt Vermögen in historischem Ausmaß an eine Generation mit einem deutlich anderen Verhältnis zu digitalen Assets. Für Investoren ist das ein struktureller Nachfragetreiber: Wer die Asset-Klasse bewertet, sollte verstehen, wie sich die Käuferseite dieses Marktes in den nächsten zehn Jahren verändert.

​Anton Werner und Martin Bechter, Gründer von Fountainhead Digital, einem Krypto-Research- und Investmentunternehmen mit Sitz in Wien, führen durch den Abend und zeigen, wie sich diese Entwicklungen in Portfolios abbilden lassen.

Registration:  https://luma.com/pecq4xiz

We are delighted to invite you to a live presentation by CFA Society Prize Winner (2ndPrize) Madalin-Stefan Titiriga of his Master Thesis: “Volatility Management in Equity Factor Portfolios“  

Drinks & snacks will be provided.

1 hours of CE/PD and MIFID Credits will be provided.

Registration by email: Kathrin.Schneeweiss@cfaaustria.org

Given the high demand for our city walking tours discovering historical financial buildings in Vienna followed by wine tasting, we are delighted to offer you a new new date for the version 2.0 tour on Sept 21.

We are also working on an additional version 3.0 tour to take place in mid-October.

Program Sept 21:

17:30-19:00 City tour of the history and architecture of financial buildings/places in and around the 1st district that once or still have an importance for the Austrian financial industry. The tour will be guided by “Wien mal anders” in English.

19:00-20:00 Wine tasting of 3 local wines and finger food in an exclusively open wine cellar in the 1st district.

Meeting Point:

17:30 in front of Michaelerkirche am Michaelerplatz, 1010 Wien

Registration:

Please be aware that capacity for this event is limited to 25 participants, tickets will be allocated on a first-come-first-serve basis (participants in the first 2.0 tours are not allowed to participate again). Please register by sending an email to Kathrin.Schneeweiss@cfaaustria.org. You will receive a confirmation from our side. Please inform us if you cannot participate in advance at least 3 business days before the event.

Looking forward to seeing many of you there.

Austria has developed a well-functioning early-stage financing ecosystem supported by public initiatives, business angels and venture capital funds. Beyond the initial phase, however, access to growth funding becomes more challenging, particularly where larger, and more structured financing solutions are required.

Many growth-stage companies operate with validated business models but lack the long track record typically required by traditional capital providers, resulting in a perceived higher risk profile.

This session provides an Austrian perspective on the financing infrastructure for growth-stage companies, with a particular focus on how non-dilutive instruments and capital market solutions can complement equity financing and support sustainable growth. 

Topics

• Austria-specific market dynamics: Overview of the growth financing landscape and structural reasons why non-dilutive, capital market-oriented instruments (e.g. corporate and Nordic bonds) remain less widely used.

• Growth financing for scale-ups and SMEs: Typical applications, structuring approaches, and current market developments beyond early-stage funding.

• Non-dilutive financing instruments: Venture debt, mezzanine capital, cash flow-based financing, and selected capital market structures.

• Prerequisites and investor perspective: Requirements related to business models, KPIs, risk allocation, collateral, covenants, reporting, and governance.

• Capital structure considerations: Key factors in building sustainable financing structures, including leverage capacity, financial resilience, role of lead investors, and structuring of security packages.

• Advantages and limitations: Impact of financing instruments on capital structure, cost considerations, and strategic implications, including typical challenges and pitfalls.

• Timing and process considerations: Interaction with equity rounds, financing readiness, and key success factors in execution.

• Financing partner landscape: Overview of relevant market participants, including banks, private debt funds, and institutional investors.

Learning Objective

Participants will gain a structured understanding of how growth-stage companies in Austria can combine different financing instruments to build robust and scalable capital structures.

Speakers

• Sven Balciunas, Founding Partner

• Karin Pühringer, Founding Partner

TUDC | Thumbs Up Disruption Company is a boutique advisory firm specializing in growth financing and capital structuring, supporting companies and shareholders in complex financing situations.

Event Details

Registration: 

kathrin.schneeweiss@cfaaustria.org

Date: Wednesday, 9 September 2026
Time: 12:30–14:00
Location: Private Members Club, Am Hof 8, 1010 Vienna

Credits: 1.5 PE/CE Credits

Food and drinks will be served.

Update:
Please find the slide deck of the presentation here.

CFA Society Austria / RBI Blended Finance Event

16:30 – 17:00

Welcome coffee

17:00 – 17:10

Opening speech – Valerie Brunner

17:10– 17:45

Raiffeisen Research – “State of ESG and how cheap energy will define which economies thrive in the decades ahead” - Jörg Bayer, CFA, Head of Capital Markets & ESG Research

17:45– 18:30

Finance in Motion – “Blended finance and why it makes sense from a risk–return perspective” - Lilla Gyarmati, CFA

18:30 onwards

Dinner & Drinks

Finance in Motion

Founded in Germany, with local expertise from Latin America to Eastern Europe, we have been investing in emerging markets for over 20 years. Our track record is unmatched.

Since inception, we have invested across 44 high-growth economies, working with local financial institutions to finance businesses that are fit for the future. We also work directly with corporates and provide project financing. 

Through our investments, advice and capacity building, we address climate change, protect nature and foster financial inclusion.

https://www.finance-in-motion.com/

Please join us for the presentation by Elliot Hentov

“Nach dem Irankrieg: Ein Ausblick auf Makro und Märkte“

on June 16 at Cafe Caspar.

The presentation will be held in German.

Agenda June 16 :

• 12:30-13:30 Snacks and Drinks

• 13:30-14:30 Presentation and Q&A

Where:

Cafe Caspar, Grillparzerstraße 6, 1010 Wien

Elliot Hentov, PhD
Chief Macro Policy, Strategist SSGA

Elliot is responsible for the development of research and thought leadership linking policy impulses to financial markets, including his role as chief geopolitical strategist. He joined SSGA from Standard & Poor’s sovereign ratings group where he was a Director and lead analyst for sovereigns and government-related entities in Central, Eastern and Mediterranean Europe.

Before that, Elliot served as a political affairs officer at the United Nations headquarters in New York, advising senior officials on political and economic issues in the Middle East and Europe.

Elliot holds a PhD from Princeton University as well as a Master’s degree in international affairs from Georgetown University. He frequently authors publications across print media (e.g. the New York Times, Financial Times, Business Times, Foreign Policy, and Washington Quarterly) as well as appears regularly in financial broadcast media such as Bloomberg and CNBC.

He is also a member of the Advisory Board of the Official Monetary and Financial Institutions Forum in London as well as Stablecoin Standard, the global industry association for stablecoins.

Registration:

Please register by sending an email to Kathrin.Schneeweiss@cfaaustria.org

Looking forward to seeing many of you there.

CFA Society Austria Live Event in Collaboration with IASB (International Accounting Standards Board) Call for Volunteers-Topic: Intangibles

With: Florian Esterer IASB Board Member

Mr Esterer joined the IASB on 1 April 2023 for a five-year term.

He brings robust investor experience, including experience in sustainable investment. He recently worked at Bank J. Safra Sarasin as Head of Core Equities, leading a team of portfolio managers and analysts who manage the bank’s regional and discretionary equity investment strategies.

Previously, he worked at Swisscanto as head of global equities and at MainFirst Asset Management as a senior portfolio manager.

Mr Esterer has an MBA from American University in Washington DC, and he is a CFA charterholder. He served as a board member and was board member and president of CFA Society Switzerland for nine years. He is also a member of the DRC of the CFA Institute.

He was also a member of the Capital Markets Advisory Committee which provides the IASB with regular views from the international community of users of financial statements.

What:

CFA Society Austria members are invited to a round table discussion to collaborate and consult on the topic of “intangibles” trying to understand how investors are or would be using information on intangibles provided by companies.

The discussion will provide input to an ongoing project to improve the usefulness of information entities provide about intangible items. In addition, the project aims to make the accounting more suitable for newer types of intangible items such data assets, cloud computing, or brands (IFRS - Intangible Assets). In a first stage, the IASB will assess user needs for information about intangible items and the expenditure associated with them in the financial statements.

Food & Drinks will be provided.

2 hours of CE/PD and MIFID Credits will be provided

Registration via Email:  kathrin.schneeweiss@cfaaustria.org

We invite you to a joint conference on private markets organised by CFA Society Austria & e-fundresearch.com AG
In partnership with Natixis Investment Managers and Invesco.

An Asset Class in Transition – Institutional vs. Retail Perspectives

Invitation: Private Markets Focus Conference – March 18 at KLYO Vienna

Private Markets are currently undergoing a structural transformation, driven by evolving allocation trends and increasing accessibility for a broader range of investor groups. To explore these developments—along with the associated opportunities and challenges—CFA Society Austria and e-fundresearch.com, in partnership with Natixis Investment Managers and Invesco, cordially invite you to a specialized focus conference.

Agenda & Program:

• Welcome: Stephan Moser (CFA Society Austria)

• Insights & Industry Resources: Presentation of the PrivateMarkets360.com platform and the Private Markets Navigator (E-Learning Academy) by Simon Weiler (e-fundresearch.com AG).

• Keynote I – Asset Allocation Trends: Julien Dauchez (Head of Client Solutions Group and Advisory, Natixis Investment Managers) on global trends and the specific allocation landscape in Austria.

• Keynote II – Market Structure: Raman Rajagopol (Senior Client Portfolio Manager, Invesco Private Credit) on the structural change within the Private Credit segment and the evolving dynamics between Private Equity toward Private Debt.

• Panel Discussion: "Democratizing Private Markets? Institutional and Retail Investor Perspectives from Austria" A discussion on the practical implementation and accessibility of Private Markets for different investor segments, featuring:

  • Michael Kirnstötter (Senior Investment Manager focusing on Private Markets, VBV-Gruppe)

  • Alexander Smid, CFA (Head of Investments & Bancassurance, Erste Bank und Sparkasse)

  • Moderation: Simon Weiler (e-fundresearch.com)

• Networking & Flying Dinner: Following the presentations, we invite you to continue the conversation over drinks and a flying dinner overlooking the city.

📅 Date: Wednesday, 18 March 2026
⏰ Program Schedule:
5:00–5:30 pm: Reception & Registration
5:30–7:00 pm: Keynotes & Panel Discussion
From 7:00 pm: Flying Dinner & Networking Drinks

📍 Venue: KLYO Vienna (Urania), Uraniastraße 1, 1010 Vienna
🗣️ Language: The conference will be held in English.

We look forward to welcoming you to an evening of insightful discussion and high-level networking.

CFA Society Austria & e-fundresearch.com AG In partnership with Natixis Investment Managers and Invesco

Important Registration Notes
Please register online using the link you have received via e-mail. If you haven’t received the link please get in touch.
Attendance Policy: Please note that this event is strictly for financial industry professionals and/or members of the CFA Society (no access for private individuals). Final participation is subject to written confirmation by the organizers. 

We invite you to a presentation by

Prof. Otto Randl,
WU Vienna University of Economics and Business
Department of Finance, Accounting and Statistic
Professor of Endowment Management
Co-Head of Research Institute for Capital Markets (ISK)
 
Prof. Randl presents a paper published in the

Journal of Financial Economics Volume 173, authors Otto Randl, Giorgia Simion, Josef Zechner, November 2025, 104152 

“Pricing and constructing international government bond portfolios”

Where?              RBI Meeting 1 in Welle & Meeting Foyer
When?               March 12, 2026 at 1230-2 pm
Food & Drinks included

Live event with 1 PD / MIFID Credit

Please register by emailing kathrin.schneeweiss@cfaaustria.org.
Room is limited and will be filled on a first-come first-serve basis.

We are looking to our live event hosted by RBI!

Abstract:

This paper derives a stochastic discount factor for currency-hedged government bonds of developed markets by projecting returns onto the unconditional mean–variance efficient (UMVE) portfolio. Priced risks of international bonds differ fundamentally from those of currencies. The UMVE portfolio achieves a Sharpe ratio over twice the average of individual markets, with the market price of risk peaking during crises and periods with high inflation dispersion. While bond returns exhibit a strong factor structure, common sources of variation are only weakly connected to priced risks. Hedging unpriced risks in naive or factor-based strategies significantly improves Sharpe ratios, even under portfolio weight constraints. 

Download the slides from the presentation here.

Disclaimer: 

In accepting this invitation Raiffeisen Bank International AG assumes that your participation in this event is in line with the legal requirements and internal policies of your employer and that you have obtained all approvals required for your participation. 
RBI is the contracting authority, that is, the party responsible for data processing as defined by the General Data Protection Regulation (GDPR). 
RBI could record the audio and video of this event, which can be stored by Raiffeisen Bank International AG for documentation purposes, used for the purpose of media coverage and public relations (e.g. internet, intranet, RBI social media channels e.g. as a unlisted/listed video on YouTube, LinkedIn, Facebook, Twitter as well as in print brochures) and forwarded to media companies (e.g. internet, print or TV media). If you do not wish to be photographed/filmed, please let us know on-site. 
RBI will process the following categories of personal data in the course of the current data processing: Name, Address, Company, Electronic contact data. 

Legal basis for processing: 
Prevailing legitimate interests on the part of RBI, most notably conducting the conference for the purpose of exchange. 
You can find the obligatory information according to the General Data Protection Regulation on www.rbinternational.com/dataprotection. 

Auch heuer wird die offizielle Auszeichnung der besten 3 Arbeiten gemeinsam mit den Endpräsentationen der CFA Research Challenge 2025/26 stattfinden. Gemeinsam mit allen CFA Society Prize Teilnehmern, den mitwirkenden Professoren, Mitgliedern des CFA Society Austria Prize Comittees und den teilnehmenden Research Challenge Studierenden heißen wir Dich sehr herzlich willkommen.

Zur Erklärung: Die CFA Research Challenge ist ein vom CFA Institute veranstalteter weltweiter Wettbewerb zwischen Studenten-Teams, die einen Analystenreport für ein börsenotiertes Unternehmen erstellen und diesen einer Expertenjury präsentieren. Das Siegerteam des österreichischen Wettbewerbs vertritt CFA Society Austria auch beim europäischen Finale.

Datum:
Freitag, den 27. Februar 2026

Veranstaltungsort:
Fachhochschule des BFI Wien Ges.m.b.H.
Wohlmutstraße 22, A-1020 Wien

Zeitplan: *
15:30 Eintreffen der Gäste
16:00 Vorstellung CFA Society Austria & Institute
16:30 Präsentationen Research Challenge
18:45 Siegerehrung CFA Society Austria Prize
19:00 Siegerehrung Research Challenge
Im Anschluss Buffet
* Alle Zeitangaben sind ungefähre Richtwerte und können sich im Laufe des Nachmittags ändern!

Anschließend möchten wir Dich herzlich zu einem gemeinsamen Stehbuffet, direkt in den Räumlichkeiten der Fachhochschule, einladen.

Wir freuen uns, Dich am 27. Februar begrüßen zu dürfen, um gemeinsam mit Dir eine spannende Verleihung und einen netten Abend zu erleben.

Wir bitten um Anmeldung bis Freitag, den 20. Februar 2026 unter kathrin.schneeweiss@cfaaustria.org.

We are delighted to invite you to a live presentation:

Mercer CFA Institute Global Pension Index 2025

By Michaela Plank, Managing Director Mercer Austria and Gerhard Navara, Pensions Expert,  Mercer Austria

The presentation will include a detailed explanation of the pension index and the parameters, and the status of Austria compared to its global peers.

&

“Case Study Denmark:  How Denmark transitioned from a Pay-as-you-go Pension System”

By Alex Lehmann | Director, Capital Markets Policy EU   

How bad was it when they shifted?  How painful?  Now they are one of the top ranked in the Mercer CFA Institute Global Pension Index 

Where?     Am Hof 8 Private Members Club, Meeting Room

When?      Wednesday January 21, 2025 at 630 -900 pm

Food & Drinks included

Live event with 2 PD / MIFID Credit

Please register by emailing kathrin.schneeweiss@cfaaustria.org.

Room is limited and will be filled on a first-come first-serve basis.

Where does Austria stand in financial literacy? 
CFA Society Austria Strategy and Role 

Harald P. Holzer, CFA 
President 
CFA Society Austria 

& 

CFA Society Austria is one of 60 organization involved in Austria’s National Financial Literacy Strategy 2030 
Approved Educational Provider for Schools 
A case study 

Nessrine Slimani, MSc 
Financial Literacy Team Volunteer 

Where?     RBI Meeting 1 in Welle & Meeting Foyer 

When?      Thursday, January 15, 2026 from  12:30 – 2:00 p.m. 

 Food & Drinks included 
 
Live event with 1 PD / MIFID Credit 

Please register by emailing kathrin.schneeweiss@cfaaustria.org. 
Room is limited and will be filled on a first-come first-serve basis. 

We are looking to our live event hosted by RBI! 

Disclaimer: 

In accepting this invitation Raiffeisen Bank International AG assumes that your participation in this event is in line with the legal requirements and internal policies of your employer and that you have obtained all approvals required for your participation. 

RBI is the contracting authority, that is, the party responsible for data processing as defined by the General Data Protection Regulation (GDPR). 

RBI could record the audio and video of this event, which can be stored by Raiffeisen Bank International AG for documentation purposes, used for the purpose of media coverage and public relations (e.g. internet, intranet, RBI social media channels e.g. as a unlisted/listed video on YouTube, LinkedIn, Facebook, Twitter as well as in print brochures) and forwarded to media companies (e.g. internet, print or TV media). If you do not wish to be photographed/filmed, please let us know on-site. 

RBI will process the following categories of personal data in the course of the current data processing: Name, Address, Company, Electronic contact data. 

Legal basis for processing: 

Prevailing legitimate interests on the part of RBI, most notably conducting the conference for the purpose of exchange. 

You can find the obligatory information according to the General Data Protection Regulation on www.rbinternational.com/dataprotection. 

Gemeinsam mit der ÖVFA – Österreichische Vereinigung für Finanzanalyse und Asset Management laden wir dich zur Podiumsdiskussion des Arbeitskreises „Initiative Kapitalmarkt“ zum Thema „Vorsorge neu denken – Perspektiven für die zweite Säule im Pensionssystem“ ein.

Termin: 4. Dezember 2025, Einlass ab 16:15 Uhr, Beginn: 17:00 Uhr

Bitte verwende den per Mail versendeten Registrierungslink zur Anmeldung bis 2. Dezember.

Programm:

Begrüßung

Friedrich Mostböck, Präsident der ÖVFA

Einführung in die Thematik

Paul Severin, ÖVFA-Vorstand

•

Podiumsdiskussion:

Hanno Lorenz (Agenda Austria)

David Mum (Gewerkschaft GPA)

Rainer Münz (Prof. Demografie)

Stefan Pichler (WKÖ)

Moderation: Paul Severin

Im Rahmen der Krypto Kameel Reihe haben wir in den letzten Monaten den Blickwinkel auf unterschiedliche Krypto- bzw. Blockchainthemen gelegt.

Allen, die noch nicht vollkommene Experten in dieser Materie sind, möchten wir dieses Event ans Herz legen.

CFA Society Austria Event - Krypto verstehen: Technologie, Asset-Klasse und der Wert einzigartiger On-Chain-Daten

Details und Anmeldung unter folgendem Link:

https://luma.com/5203sr9q

• Wann? - Dienstag 2. Dezember 2025 ab 17:00

• Wo? - Café Caspar, Grillparzerstraße 6, 1010 Wien, Austria

Viele Investoren verbinden Crypto noch immer ausschließlich mit Bitcoin. Doch die wirklich wegweisenden Innovationen entstehen heute in ganz anderen Segmenten des Cryptomarktes: Stablecoins verändern die digitale Zahlungsinfrastruktur, Tokenisierung hat das Potenzial, den traditionellen Finanzmarkt grundlegend zu transformieren, und es entstehen völlig neue, technologiegetriebene Geschäftsmodelle, die nur durch Crypto möglich werden.

​Anton Werner und Martin Bechter, Gründer von Fountainhead Digital, werden zudem die einzigartige Rolle von Crypto-Assets erläutern. Diese sind nicht nur Investitionsobjekte, sondern übernehmen zugleich eine zweite zentrale Funktion: Sie fungieren als „Öl“ einer neuen, dezentralen Ökonomie. Diese doppelte Rolle schafft nicht nur eine duale Nachfrage, sondern eröffnet Investoren auch vollkommen neue, datenbasierte Einblicke, wie sie in keiner anderen Asset-Klasse verfügbar sind.

​Ein struktureller Vorteil, der künftig auch für den breiten Kapitalmarkt zugänglich und strategisch relevant sein wird.

Wir freuen uns auf eure Teilnahme.

CFA Society Austria Live Event in Collaboration with IASB (International Accounting Standards Board) Call for Volunteers-Topic: Intangibles

With: Florian Esterer IASB Board Member

Mr Esterer joined the IASB on 1 April 2023 for a five-year term.

He brings robust investor experience, including experience in sustainable investment. He recently worked at Bank J. Safra Sarasin as Head of Core Equities, leading a team of portfolio managers and analysts who manage the bank’s regional and discretionary equity investment strategies.

Previously, he worked at Swisscanto as head of global equities and at MainFirst Asset Management as a senior portfolio manager.

Mr Esterer has an MBA from American University in Washington DC, and he is a CFA charterholder. He served as a board member and was board member and president of CFA Society Switzerland for nine years. He is also a member of the DRC of the CFA Institute.

He was also a member of the Capital Markets Advisory Committee which provides the IASB with regular views from the international community of users of financial statements.

What:

CFA Society Austria members are invited to a round table discussion to collaborate and consult on the topic of “intangibles” trying to understand how investors are or would be using information on intangibles provided by companies.

The discussion will provide input to an ongoing project to improve the usefulness of information entities provide about intangible items. In addition, the project aims to make the accounting more suitable for newer types of intangible items such data assets, cloud computing, or brands (IFRS - Intangible Assets). In a first stage, the IASB will assess user needs for information about intangible items and the expenditure associated with them in the financial statements.

Food & Drinks will be provided.

2 hours of CE/PD and MIFID Credits will be provided

Registration via Email:  kathrin.schneeweiss@cfaaustria.org

CFA Society Austria is happy to invite you to an evening event hosted together with Jane Street, one of the leading global ETF liquidity providers.

Join us for an engaging discussion on the evolving ETF landscape in Europe. Following a brief presentation by Jessica Clancy, ETF Strategist at Jane Street, we will move into a panel discussion featuring perspectives from ETF issuers, institutional ETF investors, and liquidity providers.

Topics will include current market trends, liquidity dynamics, trading best practices, and the role of ETFs in modern portfolio construction. This is an excellent opportunity to network with industry peers and gain practical insights into the ETF ecosystem.

Program:

• 17:30 Welcome

• 18:00-19:30 presentation and panel.
  
  Panelists:
  - Jessica Clancy - ETF Strategist, Jane Street
  - Jan Schmidgall - Institutional Trading, Jane Street
  - Jürgen Wurzer, CFA - Deputy Head of Global Multi-Asset, Macquarie Group
  - David Haberfellner - Head of Desk Group Markets Execution, Erste Group
  - Eva Miklasova, CFA - Head of ETF Business Austria & CEE, Invesco
  - Tomas Packa - Senior Passive Sales, Austria and Eastern Europe, DWS Group

Food & Drinks will be provided.

2 hours of CE/PD and MIFID Credits will be provided.

Registration via Email:  kathrin.schneeweiss@cfaaustria.org

We are delighted to invite you to a live presentation by CFA Society Prize Winner (2nd Prize) Nina Feik of his Master Thesis: “The Impact of Sustainable Investing on Anomaly Strategies "

Drinks & snacks will be provided.

Registration by email: kathrin.Schneeweiss@cfaaustria.org

CFA Society Austria is pleased to invite you to the Smart Vienna, the annual value investing conference, on October 2 at the Vienna Stock Exchange.

We can offer 10 free tickets for members of CFA Society Austria. These tickets will be issued on a first-come first-serve basis by sending an email to kathrin.schneeweiss@cfaaustria.org.

For those not able to secure a free ticket, there are tickets at reduced prices for members available on the smart Vienna webpage.

Please refer to https://smartvienna.at/programme for more details.

The purpose of Smart Vienna is to exchange ideas about value investing among financial professionals in an open and inspiring environment. Together with leading speakers from the world of value investing, the attendees will experience in-depth views as well as concrete investing ideas. The conference furthermore provides excellent networking opportunities. An intensive networking program enables direct contact with all speakers.

We are pleased to invite you to a joint event with BCA Research:

Strategy Outlook:
Waiting For The Whites Of The Recession’s Eyes

With Peter Berezin

Back in 2022 and 2023, when most strategists were expecting an imminent recession, Peter Berezin predicted that the US and most other major economies would experience an “immaculate disinflation,”  whereby inflation would fall with very little cost to growth. This made him bullish on stocks.

Peter’s outlook on the economy and equities soured over the course of 2024 and towards the end of that year, he advised investors to buy puts on the SPY. He used the post-Liberation Day sell-off to exit the recommendation for a gain of 536%. However, his subsequent recommendation to short ACWI flopped, causing him to close the trade for a substantial loss.

Now, Peter is moderately bearish on stocks, while he weighs the risks to growth versus the risks of higher inflation.

In his presentation, Peter will also discuss:

• His "kinked Phillips curve framework," which predicted the immaculate disinflation and is now flagging risks of a US recession. 

• The outlook for US inflation and monetary policy, notably given the issues surrounding the politicization of the Fed.

• Growth prospects in the rest of the world, focusing on Europe and China.

• Where he sees the S&P 500 going in a recessionary and non-recessionary scenario. 

• Whether AI stocks will continue to outperform.

• The trajectory for the US dollar and why he thinks the yen will be the top-performing currency over the next 12 months.

• Why he remains bullish on gold and where he sees oil and copper prices going from here.

• The latest signals from his MacroQuant model, which distils hundreds of leading indicators to predict the direction of stocks, bonds, currencies, and commodities.

When: 25. September, 6:00pm, presentation and Q&A followed by drinks & snacks

Where: Klyo, Uraniastraße 1, 1010 Wien, https://klyo.at/

Please register by sending an email to kathrin.schneeweiss@cfaaustria.org.

We are looking forward to welcoming you on September 25.

​Join us for an exclusive evening as we cap off the DAAA Jahrestagung 2025 with the Krypto Kameel After Party!

​We are excited to announce that we will be joined by special guests from Canton Network out of London. Canton is at the forefront of financial technology and they will be on hand to discuss some of the most pressing and interesting topics in the digital asset space, offering a deep dive into how major financial institutions are leveraging blockchain technology to transform global capital markets.

​About Canton Network: The Canton Network is the only public, permissionless blockchain purpose-built for institutional finance - uniquely combining privacy, compliance, and scalability. Governed by the Canton Foundation with participation from leading global financial institutions, Canton enables real-time, secure synchronization and settlement across multiple asset classes on a shared, interoperable infrastructure. Originally developed by Digital Asset and now open-sourced, the network is powered by its native token, Canton Coin, and supports decentralized governance and collaborative application development. It’s the proven link between the promise of blockchain and the power of global finance, making finance flow the way it should.

When: Sept 18, 18:30-22:00​

Where: Vienna, available after registration

Registration and event details: ​https://luma.com/ml90juqj

The Krypto Kameel is jointly organised by Black Manta Capital Partners and CFA Society, supported by DAAA.

Please have also a look at the invitation for the DAAA Jahrestagung taking place the same day from 13:00 to 17:30 https://luma.com/iltb7vra.