'The Value of the Chartered Financial Analyst Designation' Perspectives from a Survey of Public Employee and Teacher's Retirement Systems

Abstract

Public employee and teachers' retirement systems that employ CFA charterholders pay lower total investment fees. Overall, the authors conclude that savings produced by employing CFA charterholders as investment professionals in terms of total investment management expenditures at public employee and teachers' retirement systems justify the hiring of CFA charterholders in investment management roles. There was also some evidence that CFA Charterholders select more diversified portfolios.

JEL Classification: G0, G2