As one of the largest CFA societies in the world, Toronto CFA Society relies heavily on volunteers to contribute their time and expertise to 16 committees. The Analyst, which falls under the Member Communications committee headed by Rossa O’Reilly, CFA is no exception. The editorial side is staffed entirely by volunteers who source and contribute articles. Occasionally writers and articles arrive through the offices of Toronto CFA Society, other ideas come from committee members when we meet quarterly over lunch to discuss the upcoming issue.

As Executive Editor, I have the privilege of working with some exceptional people. Rossa O’Reilly, CFA is a tour de force, who hasn’t slowed down an iota since his retirement from CIBC last year. His articles are always a pleasure to read and cover topics that reflect his international perspective of the industry. He has written two articles for this issue: one offers guidance for investors as Canadian public companies transition to IFRS; the second summarizes a recent roundtable discussion of industry professionals on how Canada, unlike the U.S. and the U.K., does not impose a “best interests” duty on financial advisors and dealers who provide financial advice to clients.

Long-standing committee member Geneviève Plourde, CFA, from CIBC Asset Management, remembered an article on bonds and interest rates that her colleague Ghattas George Dallal, CFA had recently completed. His well-written article explains why even as the Bank of Canada raises rates, an allocation to corporate bonds can be a prudent asset allocation strategy.

Manulife’s Pauline Lai, CFA, a new committee member this year, has already left a mark. With her unfailing energy and passion for the industry she is never short of ideas for articles. This issue she has reviewed the almost 600-page “Obama Commission” report on the causes behind the financial and economic crisis. She also found the time to write this issue’s member profile on Mohsin Bashir, CFA, of Highwater Capital Management, who discusses the value he found in participating in Toronto CFA Society’s mentorship program.

Victoria Barclay, CFA, who has written several book reviews in previous issues, has submitted an article on the demographic challenge facing OTPP and many other DB pension plans. In April 2011, Teachers’ reported that for 2010 it outperformed its benchmark by 5.5 percent, earning $13.3 billion in investment income, the largest value-add dollar amount in its history. And yet it wasn’t able to make a dent in its funding shortfall, which held constant at $17 billion.

Finally, three long serving members of the committee have decided to step down this year and will be missed. A big thank you to Nick Chen, CFA, of Polar Securities, Jane Gulian Moiroux, CFA of BMO Harris and Justin Taheri, CFA of First Composite for their previous contributions. And best of luck to Geneviève as she leaves her role at CIBC for a new life in California.

Have a wonderful summer.