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Richard M. Ennis, CFA, Assumes Role of Editor of CFA Institute Financial Analyst Journal

 

Retiring Editor Robert D. Arnott Saluted For His Dedication, Vision, Leadership

 

Charlottesville, Va., August 23, 2006 – CFA Institute today announced that Richard M. Ennis, CFA, co-founder and chairman of Ennis Knupp + Associates, will become editor of the Financial Analysts Journal effective December 1, 2006.  

 

“We are honored to have Richard Ennis assume the role of editor of the FAJ,” said Jeffrey J. Diermeier, CFA, president and CEO of CFA Institute. “Since Richard earned his charter in 1974, he has volunteered in many capacities, including the CFA Society of Chicago’s Board of Directors, the Board of Regents of the Financial Analysts Seminar, and the FAJ editorial board. He is joining the FAJ at a fascinating time, as tools for financial analysis and portfolio management become increasingly complex and as globalization becomes increasingly important to capital markets and investors. His insights, expertise, and intellectual curiosity will be much valued in his stewardship of the FAJ.

 

“We are indebted to Rob Arnott for his vision and leadership as the editor of the FAJ and for his many editorial inputs. Rob’s contributions are substantial, but most important are his efforts in  publishing the best thinking in the industry, positing new theories, and challenging established wisdom so that the FAJ fulfills its mission as the flagship publication of CFA Institute — to be a leader in its intellectual depth and foresight for investment practitioners.” 

 

Prior to his co-founding of Ennis Knupp + Associates in 1981, Ennis established A.G. Becker’s consulting practice with Jim Knupp in 1975. Between 1972 and 1975, he was with O’Brien Associates, the predecessor to Wilshire Associates. From 1970 to 1972, he was a securities analyst and portfolio manager at Transamerica Investment Management Company. He has contributed eight articles to the FAJ, and is an active member of the CFA Society of Chicago.

 

Ennis is also a recipient of the Graham and Dodd Award, which he received in 1991 for the FAJ article “Pension Fund Real Estate Investment under a Simple Equilibrium Pricing Model.” (This article was co-authored with Paul Burik.) Awarded by the FAJ’s advisory council and editorial board, the Graham and Dodd Award for excellence in research and financial writing is the publication’s highest honor. 

 

“The prospect of being an international ambassador for the FAJ appeals to me,” said Ennis. “My work over the years has produced many, many professional and scholarly contacts around the world. Promoting this fine journal in our global community and beyond it will be a pleasure.

 

“In my published work, I have always sought to connect with the reader on a deeper level, often invoking parallels in science or the humanities. Thus, I would hope that the FAJ will continue to inspire and gratify our readership while speaking to issues of our times.”

 

More than 100,000 securities analysts, portfolio managers, and other investment practitioners in more than 100 countries read the FAJ for its in-depth analysis of investment issues. In 2005, the bimonthly celebrated its 60th anniversary. The FAJ’s goal is to advance the knowledge and understanding of the practice of investment management through the publication of high-quality, practitioner-relevant research.

 

Arnott will join an 11-member advisory council, which helps guide the strategic direction and content of the FAJ. The council comprises investment community leaders who have demonstrated strong support for practitioner-relevant education and academic research. Arnott expects to continue to contribute articles to the FAJ.

 

“This has been a marvelous opportunity, challenging and tremendous fun,” said Arnott. “When I accepted this opportunity, I indicated that I would serve for up to four years. Those four years have passed faster than I could have imagined. I’m proud that we’ve been able to attract truly top-flight talent. Now, it’s time to pass the baton and to effect a smooth transition to a new editor. 

 

CFA Institute 

CFA Institute is the global not-for-profit professional association that administers the Chartered Financial Analyst® (CFA®) curriculum and examination program worldwide, publishes research, conducts professional development programs, and sets voluntary, ethics-based professional and performance-reporting standards for the investment industry. CFA Institute has more than 84,000 members in 128 countries and territories, including 69,000 CFA charterholders worldwide, and 134 affiliated professional societies in 55 countries and territories. CFA Institute is headquartered in Charlottesville, Va., USA, with regional headquarters in London, Hong Kong, and New York. More information may be found at www.cfainstitute.org. (Bloomberg users can find CFA Institute at 497458Z).

 

List of Ennis Publications 

  • “Are Active Management Fees Too High?,” Financial Analysts Journal, September/October 2005 (Reflections series)
  • “Asset Allocation with Private Equity, with Michael Sebastian,” Journal of Private Equity, Summer 2005
  • “Real Estate Allocations in Contemporary Institutional Portfolios,” with David Keil and Nathan Zinn, PREA Quarterly, Spring 2005
  • "Rethinking Boundaries and Achieving Greater Flexibility in Implementing the Policy Portfolio," July 2004 CFA Institute Conference Proceedings
  • “Can Public Funds Compete?” Journal of Investment Consulting, Winter 2003
  • “A Critical Look at the Case for Hedge Funds: Lessons from the Bubble,” with Michael Sebastian, Journal of Portfolio Management, Summer 2003 (Bernstein Fabozzi/Jacobs Levy Outstanding Article)
  • “Are Performance Fees Right For Your Fund? A Case Study,” Journal of Investing, Summer 2003
  • “The Small-Cap-Alpha Myth,” with Michael Sebastian, Journal of Portfolio Management, Spring 2002 (Bernstein Fabozzi/Jacobs Levy Outstanding Article)
  • "Reintegrating the Equity Portfolio," September 2002 Conference Proceedings
  • “The Case for Whole Stock Portfolios: Failure of the Multiple-Specialist Architecture,” Journal of Portfolio Management, Spring 2001
  • “The Structure of the Investment-Management Industry: Revisiting the New Paradigm,” Financial Analysts Journal, July/August 1997
  • “The Influence of Non-Risk Factors on Real Estate Holdings of Pension Funds,” with Paul Burik, Financial Analysts Journal, November-December, 1991
  • “Unraveling the Semantics of Investment: What Is Passive Management?” Financial Analysts Journal, July/August 1991 (Guest Speaker article)
  • “Pension Fund Real Estate Investment under a Simple Equilibrium Pricing Model,” with Paul Burik, Financial Analysts Journal, May/June 1991 (Graham and Dodd Award)
  • “Foreign Bonds in Diversified Portfolios: A Limited Advantage,” with Paul Burik, Financial Analysts Journal, March/April 1990
  • “Is a Statewide Pension Fund a Person or a Cookie Jar?  The Answer Has Implications for Investment Policy,” Financial Analysts Journal November/December 1988
  • “South African Divestment: Social Responsibility or Fiduciary Folly?” with Roberta Parkhill, Financial Analysts Journal, July/August 1986.
  • Spending Policy for Educational Endowments, with J. Peter Williamson, the Common Fund, January 1976