Association of Investment Professionals in the Netherlands
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The Risks Standards report

The Risk Standards report provides an overview of risk parameters since 1999. The effects of an additional year on volatility are usually quite limited and gradual. For instance, volatility in emerging market investment categories has been decreasing for years. Economic developments and changing interest and monetary conditions can strongly influence correlations. With the end of a 40-year bull market for bonds, the correlation between stocks and bonds has been positive over the past one and a half years, after a period of mostly negative correlation between 1999-2021.

With this report (In Dutch, latest update: 2024), we as CFA Society Netherlands aim to contribute to careful selection of investment categories and the construction of investment portfolios, thereby enhancing the quality of investment services in the Netherlands.


'The Finfluencer Appeal: Investing in the Age of Social Media'

This study by the CFA Institute, in collaboration with, among others, CFA Society Netherlands, demonstrates how (sometimes sponsored) content often influences the decision-making of young investors, especially in the areas of stocks and cryptocurrencies. CFA Society Netherlands wants to emphasize that both dangers and enormous opportunities exist here to impart knowledge and competence in investing to young people at an early age.

The Netherlands is one of the countries that has been thoroughly examined. Therefore, the research provides valuable insights into how finfluencers influence investment behavior in our home country. As an association, we have conducted local research by mapping out the available content of finfluencers in the Netherlands. This research enriches the recent publication of 'Wijzer in Geldzaken' (2024) and complements the work of the AFM, which specifically examined 150 Dutch-speaking finfluencers in 2021. In our analysis, we worked from relevant search terms and also included English-language content.

In light of the results, the CFA Institute calls for action from both regulators and the industry.

Some specific recommendations from the report include:

  • Regulators should collaborate on a universal definition of an investment recommendation and provide clarity on regulated activities of finfluencers.
  • Investment organizations using finfluencers should offer compliance training and closely monitor the content of finfluencers to comply with regulations.
  • Professional investment advisors should make more effort to engage Gen Z and invest in their own knowledge, competence, and ethical responsibilities.
  • Social media platforms should ensure that finfluencers clearly disclose any paid advertising.


'Development of a blueprint to ease the transition under new pension fund reform for alternative investments'

On July 1, 2023, the Dutch senate approved a new pension law. This concluded a 15-year legislative process that saw multiple proposed changes. The new law, which essentially moves the Dutch pension fund system from a defined benefit (DB) to a defined contribution (DC) system, must be implemented by all pension funds by 2028.

This article discusses the significant reforms in the Dutch pension system, shifting from a Defined Benefit (DB) to a Defined Contribution (DC) scheme. The reforms introduces two new regulations: the “Flexibele Premie Regeling” (FPR) and the “Solidaire Premie Regeling” (SPR), focusing on individual pension capital and collective investments.

Download the full report here


Beheren van pensioenvermogen

In samenwerking met SPO heeft CFA Society Netherlands in september 2015 de eerste editie uitgebracht van het boek Beheren van pensioenvermogen - Praktische handvatten voor moeilijke keuzes aan de bestuurstafel. In dit ‘denkboek’ voor bestuurders beschrijven de verschillende auteurs vanuit hun dagelijkse praktijk de nieuwe wereld van pensioenfondsbestuurders. Het is niet een traditioneel lesboek: aan de hand van dit boek weet een bestuurder wat hem of haar te doen staat, niet wat hij of zij allemaal moet weten. Het boek geeft aan de hand van concrete cases inzicht hoe tegen bepaalde zaken kan worden aangekeken. Het pakt die problemen/uitdagingen op die ertoe doen voor een pensioenfondsbestuurder.

De tweede herziende druk is in april 2018 uitgekomen en kunt u hier downloaden

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