CFA Society of Minnesota sees more than 200 investors and 36 companies attend event that could be copied by other societies
An investment conference organized to cut out sell-side conflicts was hailed as a success after a large and enthusiastic turnout yesterday.
The CFA Society of Minnesota’s InvestMNt event saw more than 200 investors and 36 upper Midwest companies met in downtown Minneapolis free from the banking conflicts and trading desk agendas inherent in a sell-side sponsored conference.
After 18 months of planning, InvestMNt brought an eclectic mix of companies spanning mega cap to micro cap, covering sectors including banking, tech, medical devices, food and mining.
‘We met our mission,’ says Maren Amdal, executive director of the CFA Society of Minnesota, summing up the day. ‘We set out to bring Minnesota companies together with Minnesota investors.’
The event was also ‘wildly profitable’ for the organization, she says, and while no decision has been made about future conferences, the board will be taking up the question.
The success of the event means other societies could copy it, notes Amdal, who says at least three other regional CFA societies sent observers to Minneapolis to evaluate the event and learn about mounting their own independent conferences.
Jeff Johnson, IRO and treasurer at Minneapolis-based Deluxe, says ‘the imprimatur’ of the CFA Society was attractive but the key for him was the opportunity to meet with investors in his home city, a market that he admits he had overlooked. ‘It was [about] convenience and opportunity,’ he says.
While most presenting companies were from Minnesota, a few came from neighboring states.
Dave Prichard, newly installed IRO at Wisconsin-based Spectrum Brands, says the company had not been in Minneapolis–Saint Paul with its new strategy after emerging from bankruptcy, so the opportunity was attractive.
The veteran IRO and current NIRI board member – who went without management to the conference – was one of the few IROs presenting.
Signaling the importance given to local investors, the roster of presenters mostly comprised CFOs and CEOs – with a few doing a double act at the event.
‘We said we want C-level presenters – and we got them,’ says Amdal.
