Your Quarterly News and Updates | | |
The summer flew by, and we had our AGM on 27th August at Southpark. The new board has begun its work setting up the research challenge, planning events and organizing the next mock exam for CFA program candidates. You can find the introduction of the new board and a recap of recent events below.
The board has secured two new sponsors for the society, which will bridge the expected strategic funding gap two years early. We plan to spend the excess income on events, which will have a practical impact on skills, and candidate work to further drive the recognition of the value of the CFA charter among students. As we roll out the fall event schedule, we hope to see you at the Octoberfest evening, even if it is a touch later on the calendar than in Germany!
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Recent events
CFA Society Finland’s Annual General Meeting 2026 was held at Restaurant Southpark in Helsinki on 27th August. After networking drinks, the Board presented its annual report and financial statements. Furthermore, nomination committee proposed the Board composition for the 26/27 season. Four new board members were elected: Aleksi Jalava, CFA, Tapio Koivu, CFA, Tommi Lemström Karvinen, CFA, and Mirva Peltoniemi, CFA. Tuomas Hillukkala, CFA will continue as the President, with Endriko Võrklaev CFA and Alexander Matyushkin, CFA as Vice-Presidents and Miska Kuhalampi, CFA as board member. You can find more info on the board members at the end of the letter. Also at the AGM, we celebrated two new Charterholders in our Society. Congratulations to all, and welcome to the CFA Community!
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CFA Institute is organizing the Global Society Leader Conference (SLC) on October 20th to 22nd in London. The SLC's are an opportunity for society leaders to network with each other, engage with leadership from CFA Institute, learn about new initiatives, share best practice, and more. Tuomas Hillukkala will be participating on behalf of the CFA Society Finland. Topics covered will include Financial Literacy, which is especially relevant for us and other European peers, the associate membership class rollout and experiences from early adopters, the future of the CFA program and certificates, cross society networking, and more.
The EU Steering Committee had a meeting in Brussels, Belgium with advocacy representatives from over 20 societies attending. The discussion revolved around the five advocacy initiatives from CFA Institute, and which two the societies feel should be prioritized for in depth policy papers. The topics were Pension reform, Private market access for retail investors, Financial Literacy, Disclosures and the upcoming AI act. The CFA Research & Policy center will pick two topics for research papers based on the discussions.
Society funding and new sponsorhips
Society funding from the CFA Institute has been set for the next three years. Operational funding will increase each year, and we’ve received indication that our strategic funding has been approved for the next, and final, three-year period. As the CFA Institute began their fiscal year in September as well, the final written confirmation is still to come.
As we previously communicated, this strategic funding period will be the last, and we’ve been facing a shortfall of approximately 18 000 € in our annual budget. To cover that gap the board has redesigned our sponsorship packages and secured a total of three annual sponsors for a soft three-year period. Fidelity International will continue as our annual sponsor and will be joined by State Street Investment Management and Goldman Sachs Asset Management (pending signatures). The board is happy to welcome our new sponsors aboard!
Each sponsor will have the same visibility as Fidelity International has had, and all will have one speaking opportunity guaranteed. The annual fee is 8 000 € per sponsor, which covers the funding gap two years early. The board will put the excess funding mainly into events that drive member value, and partly into candidate work.
Financial Literacy and increased CFA Institute funding pool
CFA Institute communicated during the summer that they have adopted Financial Literacy as a core program within the institute and have allocated a budget of 2m USD for the societies to apply funding from. The Institute is in final stages of recruiting a program manager for Financial Literacy, who will organize the joint effort. We’ve been discussing possible FinLit projects together with CFA Ireland, CFA UK, CFA Austria and the Nordics. This discussion will continue during the SLC in London.
In addition, CFA Institute Board approved an additional budget of 5m USD for impact funding a variety of impactful society initiatives, like revenue development, practical learning, employer and university engagement, and joint initiatives across societies, to name a few. The institute encourages societies to “think ambitiously” when applying for this new impact funding. The details and criteria of the funding are still being finalized.
If you have ideas that we as a society could do, which will have an impact on our members, candidates, or the local financial markets, please do reach out!
Don’t miss out on our upcoming events
Our next event "Octoberfest Evening" is happening on 29th October at Restaurant Zinnkeller in Helsinki. Come and enjoy German food, drinks and good company, you can register here, A topical breakfast event "Global Macro Outlook 2027: The Post-Election Landscape" is following on November 5th at Hotel Haven, register here. On 10th December you can join us for Helsinki Christmas Dinner and Charter Awards at Hotel Grand Hansa. A Christmas event is also being planned for Tallinn. Check your inbox for invitations to arrive soon!
A new CFA Research Challenge local competition is starting this autumn, where university student teams compete against each other in analysing a subject company. Reach out to the board if you would be interested in being a mentor or grader this season.
Our network of peer Societies, CFA Institute, our sponsors, and Collaborative WIM continue offering webinars and virtual events for our members. Stay tuned and remember to frequently check our website (www.cfasocietyfinland.org) and LinkedIn for upcoming events and other updates
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Messages from our Sponsors | |
Fidelity International: What to watch for when selecting Equity Index Funds
Choosing an equity index fund is about more than fees. Discover the key factors that drive better investor outcomes in our latest white paper.
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State Street:
25 years of building ETFs in Europe.
25 years of creating ETFs for European investors
At State Street Investment Management, we have been helping create better outcomes for institutions, financial intermediaries, and investors for nearly half a century. Starting with our early innovations in indexing and ETFs, our rigorous approach continues to be driven by market-tested expertise and a relentless commitment to those we serve. With over $6 trillion in assets managed*, clients in 60 countries, and a global network of strategic partners, we use our scale to deliver a comprehensive and cost-effective suite of investment solutions that help investors get wherever they want to go.
*This figure is presented as of June 30, 2026 and includes ETF AUM of $2,203.98 billion USD of which approximately $156.81 billion USD in gold assets with respect to SPDR products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Investment Management are affiliated. Please note all AUM is unaudited.
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Introduction in the next newsletter!
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Tuomas Hillukkala, CFA
President
Member of all the committees
I have been a CFA charterholder since 2021 and this will be my fifth year on the board. I work as the CEO and equity fund portfolio manager with a dividend growth focus at Investors House Funds. The Nordic equity market is especially close to my heart, but I follow international companies with growing dividends as well. The regulatory side of finance comes through in my role as CEO. I live in Espoo with my family of three and in my free time I enjoy reading fiction and non-fiction alike. I practice Krav Maga and enjoy spending time at a poker table too.
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Endriko Võrklaev, CFA
Vice President
Chair of Membership, Education, Scholarships & University Liaison committee
I got my BA degree from University of Tartu and MA degree from Estonian Business School. I have worked at SEB Asset Management Estonia as a portfolio manager over 20 years. I manage SEB’s Estonian pension funds with over 1bn EUR assets under management. Prior to SEB, I was involved in equity brokerage. I have also been involved in teaching, serving as a visiting lecturer at Tallinn Technical University (TalTech).
I am a CFA charterholder since 2007 and have been a member of CFA Society Finland over 10 years. I have been one of the most active members from Estonia, occasionally also participating at events in Helsinki. As ca 10% of the society’s members are from Estonia, my mission is to be a connecting link between Estonian and Finnish members. I am a father of three children and my hobbies include singing in a choir and various sports activities, including cross-country ski marathons, cycling and running.
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Alexander Matyushkin, CFA
Vice President
Chair of the Research Challenge Task Force
I have been a CFA charterholder and member of CFA Society Finland since 2018, and this is my second year on the board. I currently work in Debt Capital Markets at OP Corporate Bank. Previously, I spent over four years working as an investment analyst in the asset management industry, with a primary focus on public equities.
In my free time, I enjoy playing tennis, running, and staying active. I also have a passion for travel, meeting new people, and exploring new cultures—whenever time allows.
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Miska Kuhalampi, CFA
Chair of Programs & Professional Development committee
I work in Finnvera, the Finnish Export Credit Agency, for 7 years now, underwriting guarantees to bank syndicates for financing the clients’ purchasing and building of powerplants, factories and telecom networks in Finnvera’s Large Corporate’s telco and energy teams. My professional background includes debt advisory services, institutional asset management, global equity fund management and market economist positions. I have held the CFA charter since 2006. I live in Espoo and work in Helsinki. In the past I have lived in the US and in Sweden. I am a morning gym person, I enjoy spending time outdoors and in my summer cottage.
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Aleksi Jalava, CFA
Member of Programs & Professional Development committee and the Research Challenge Task Force
I have been a CFA charterholder since 2023 and am honored to serve in the society board for the first time. I hold an MSc in Economics with a major in Finance from University of Vaasa. I have worked in Evli as an equity and ETF trader for a few years now and have background also in other finance and financial administration related positions. Outside of work, I spend most of my time with my family and enjoy traveling Lapland, playing football and cooking.
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Tapio Koivu, CFA
Member of Membership, Education, Scholarships & University Liaison committees and the Research Challenge Task Force
I have been a CFA charterholder since 2024 and I'm excited to join the board for the first time. My current role is portfolio manager at Veritas Pension Insurance, where my focus is on global listed equities. I joined Veritas in 2018, and prior to the pension industry I gained diverse experience in asset management. I live in Espoo but my weekends are often spent cultivating crops on the family farm, which offers a satisfying counterbalance to my day job. Reading is another hobby I greatly enjoy in my spare time.
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Tommi Lemström Karvinen, CFA
Treasurer
Member of Membership, Education, Scholarships & University Liaison committee
I have been a CFA charterholder since 2021 and joined the board this year. I currently work in structuring at OP Corporate Bank, where my role mainly consists of managing a trading book and designing investment products.
Outside of my professional life, I spend most of my time with my family or staying active through sports. On a weekly basis, I do Olympic weightlifting, tennis, squash, badminton, and padel.
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Mirva Peltoniemi, CFA
Member of the Research Challenge Task Force and the Programs & Professional Development committee
I have a Doctor of Science in Technology degree, and I got the CFA charter in 2019. I have been teaching courses related to finance and that got me inspired to pursue the charter. I am an associate professor of technology and innovation management at Tampere University. My research focuses on technological change in various industry contexts, and I am especially interested in the long-term outcomes of technology investments and how the firm-level decisions aggregate into industry-level developments. I am currently also working on topics related to technological sovereignty. In my spare time I read speculative fiction and economic history..
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Satu Hautamäki
Communication and Ofiice Manager
This is the eighth year working for CFA Society Finland. I help the board with different tasks and initiatives, enjoying especially the organizing of bigger events and the annual Research Challenge. I have a law degree from University of Helsinki. My free time is spent mostly outside walking with the dog and relaxing in nature.
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Sincerely,
Tuomas & Board & Staff
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