Risk series: Risks of factor investing (Fully Booked)
Thu 12 Sep 19 at Brand Exchange, London

Evening Risk Series event featuring Risk Networking

Vitali Kalesnik will examine how, although factor investing is finding its way into both active and passive portfolios, the risks are often overlooked:

  • Use of naïve risk management tools can mean downside shocks far larger than expected.
  • The shocks are further exacerbated by the positive momentum which may make the drawdowns last longer and inflict larger losses.
  • Investors are often led to believe that their factor portfolio is diversified, but diversification can vanish in certain economic conditions.
  • Investors are led to develop exaggerated expectations about factor performance due to data mining, crowding accompanied by rising valuations, underappreciated trading costs and other concerns.

At this evening event in the Risk Series, please join us for Risk Networking after the presentation has finished. From 1930 to 2030 there will be options to continue the conversation with your fellow attendees in a guided networking session. Alternatively you can relax and network at your own pace.

Please note if you require special assistance or have specific access requirements, please contact the events team at events@cfauk.org

This event is part of CFA UK’s Risk Series. The other events in the series are:


Vitali Kalesnik
Partner, Director of Research for Europe, Research Affiliates

Vitali Kalesnik leads research and business strategy in the European region for Research Affiliates. Previously, Vitali led the equity research team and continues to perform general equity-related research.

Articles Vitali has co-authored with others have been recognised with two Graham and Dodd Scroll Awards, a Financial Analysts Journal Readers’ Choice Award, a William F. Sharpe Indexing Achievement Award, and a Bernstein Fabozzi/Jacobs Levy Award.

Vitali’s research strengthens and expands Research Affiliates’ products—in particular, RAFI™ Fundamental Index™ strategies—and supports global tactical asset allocation products.

Vitali earned his PhD in economics from the University of California, Los Angeles, where he was a winner of the UCLA Graduate Division Fellowship for 2001–2005. He speaks fluent English, Russian, and French. 

When and where?

Thursday 12 September 19

Registration: 18:00
Event: 18:30 - 19:30

Brand Exchange, 3 Birchin Lane, London EC3V 9BW
View map | View directions

Nearest tube station
TFL journey planner

Member - ££10
Non-member - ££50

This is eligible for 1.00 CPD hour