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Sebastien Betermier

Title: 
Associate Professor, Finance
Sebastien Betermier
Contact Information
Phone: 
514-398-3762
Email address: 
sebastien.betermier [at] mcgill.ca
Alternate email address: 
christine.nguli [at] mcgill.ca
Address: 

Bronfman Building []
1001 rue Sherbrooke Ouest
Montreal, Quebec
Canada
H3A 1G5

Degree(s): 

PhD, Finance, University of California at Berkeley (Haas), USA
MSc, Finance, University of California at Berkeley (Haas), USA
AB, Economics, International Relations, University of California at Davis, USA

Area(s): 
Finance
Link(s): 
Office: 
502
Biography: 

Sebastien Betermier is an Associate Professor of Finance at the Desautels Faculty of Management at 好色TV and the Executive Director of the International Centre for Pension Management. His research focuses on risk and return, portfolio management and asset pricing, pension funds and retirement systems, household finance, and sustainable finance. His work appears in top finance journals and has been featured in the Wall Street Journal, the Financial Times and Bloomberg among others. Professor Betermier teaches Applied Investments, and Pension Funds and Retirement Systems at both the undergraduate and graduate levels. He has been recognized repeatedly through nominations for teaching excellence which includes receiving the Desautels Distinguished Teaching Award in 2016 and 2020 and coaching the winning team of the PRMIA international risk management challenge in 2016, 2017, and 2019. He听was named听one of the World's Best 40 under 40 Business School Professors by Poets and Quants in 2017.听Professor Betermier holds a PhD in Finance from the Haas School of Business at the University of California at Berkeley. He also serves as Coordinator of the Finance Area at Desautels, Faculty Director of the 好色TVl International Portfolio Challenge, and Academic Advisor at the Bank of Canada. He was born in France and grew up in Paris and San Francisco.听

Courses: 

FINE 464. Pension Funds and Retirement Systems.

Credits: 3
Offered by: Management (Desautels Faculty Management)
This course is not offered this catalogue year.

Description

Challenges that pension fund managers currently face. Principles of asset-liability management, the common risks to retirement income, long-term investment strategies, the design of retirement systems around the world, and the current retirement savings shortfall.
  • Prerequisite: FINE 441

Most students use Visual Schedule Builder (VSB) to organize their schedules. VSB helps you plan class schedules, travel time, and more.

FINE 541N1. Applied Investments.

Credits: 1.5
Offered by: Management (Desautels Faculty Management)
This course is not offered this catalogue year.

Description

Students are exposed to practical aspects of managing investment portfolios. A principal activity of students is participation in the management of a substantial investment fund.
  • Corequisite (Undergraduate): FINE 441. Limited enrolment.
  • Prerequisite: MGCR 341
  • Students must also register for FINE 541N2
  • No credit will be given for this course unless both FINE 541N1 and FINE 541N2 are successfully completed in a twelve month period
  • Restriction: Open to U2 students. Open to U3 students returning for an additional Fall term, who must register by emailing the BCom Office.

Most students use Visual Schedule Builder (VSB) to organize their schedules. VSB helps you plan class schedules, travel time, and more.

FINE 541N2. Applied Investments.

Credits: 1.5
Offered by: Management (Desautels Faculty Management)
This course is not offered this catalogue year.

Description

See for course description.
  • Prerequisite: FINE 541N1
  • No credit will be given for this course unless both FINE 541N1 and FINE 541N2 are successfully completed in a twelve month period
  • Restriction: Open to U2 students. Open to U3 students returning for an additional Fall term, who must register by emailing the BCom Office.

Most students use Visual Schedule Builder (VSB) to organize their schedules. VSB helps you plan class schedules, travel time, and more.

FINE 664. Managing Pension and Retirement Funds.

Credits: 3
Offered by: Management (Graduate Studies)
This course is not offered this catalogue year.

Description

The management of pension and retirement funds, including the essentials of liability-hedging strategies, long-term portfolio strategies across multiple asset classes, and the integration of Environmental, Social, and Governance (ESG) standards in the investment process. The differences in retirement systems around the world and how to design a sustainable retirement system.

Most students use Visual Schedule Builder (VSB) to organize their schedules. VSB helps you plan class schedules, travel time, and more.

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Curriculum vitae: 
PDF icon betermiercv_2024june.pdf
Group: 
Faculty
Tenured & Tenure Track
Research areas: 
Asset Allocation
Asset Pricing
Delegated Asset Management
Empirical Asset Pricing
Financial Institutions
General Equilibrium Asset Pricing
Governance
Household Finance
Investment Management
Risk Management
Sustainable and Socially Responsible Operations
Selected publications: 

Selected Publications

"Investor factors" (2024) with Laurent Calvet, Samuli Knupfer, and Jens Kvaerner, forthcoming in Journal of Finance

"Direct value creation and capture in the Canadian pension fund industry: Five examples" (2024) with Eduard Van Gelderen and Barbara Zvan, forthcoming in Journal of Alternative Investments

"Mutual fund proliferation and entry deterrence" (2023) with David Schumacher and Ali Shahrad, Review of Asset Pricing Studies, Vol 13:4, 784-829

"Green urban development: The impact investment strategy of Canadian pension funds" (2021) with Alexander D. Beath, Maaike van Bragt, Yuedan Liu, and Quentin Spehner, Journal of Sustainable Real Estate, Vol. 14:1, 75-94

"The Canadian pension fund model: A quantitative portrait" (2021) with Alexander D. Beath, Chris Flynn, and Quentin Spehner, Journal of Portfolio Management, Vol. 47:1, 159-177

"Who are the value and growth investors?" (2017) with Laurent Calvet and Paolo Sodini, Journal of Finance, Vol. 72: 1, 5-46 (lead article)

"Hedging labor income risk" (2012) with Thomas Jansson, Christine Parlour, and Johan Walden, Journal of Financial Economics, Vol. 105: 3, 622-639.

"Should Canada require its pension funds to invest domestically?" (2024) with Keith Ambachtsheer and Chris Flynn, Global Risk Institute

鈥�Reaching for yield of resiliency? Explaining the shift in Canadian pension plan portfolios鈥� (2021) with Nicholas Byrne, Jean-Sebastien Fontaine, Hayden Ford, Jason
Ho, and Chelsea Mitchell, Staff Analytical Note 2021-20, Bank of Canada

鈥�Concentration in the market of authorized participants of US fixed-income exchange-traded funds,鈥� (2020) with Rohan Arora, Guillaume Ouellet Leblanc, Adriano Palumbo,
and Ryan Shotlander, Staff Analytical Note 2020-27, Bank of Canada

鈥淐reations and redemptions in fixed-income exchange-traded Funds: A shift from bonds to cash,鈥� (2019) with Rohan Arora, Guillaume Ouellet Leblanc, Adriano Palumbo, and
Ryan Shotlander, Staff Analytical Note 2019-34, Bank of Canada

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Awards, honours, and fellowships: 

Awards

2023 - Dean's Prize for Outstanding Achievement in Media and Public Engagement

2021 - Morgan Stanley Best Paper Award in Investments

2021 - Best Paper Award in Asset Pricing and Market Microstructure - NFA

2020 - Prof. Morty Yalovsky Distinguished Teaching Award for Graduate Programs

2017听- World's Best 40 Under 40 Business School Professors, Poets and听Quants

2016 - Distinguished Teaching Award for Undergraduate Programs

2015 - CFR Best Paper Award, 14th Colloquium on Financial Markets

Grants

2024 - Global Risk Institute Research Award ($7,500)

2023 - SSHRC Insight Grant ($66,500)

2021 - National Pension Hub Research Award ($22,922)

2020 -听 SSHRC Insight Grant ($68,000)

2018 - National Pension Hub Research Award ($70,000)

2015 - FQRSC New Researcher Grant ($50,292)

2012 - SSHRC Insight Grant ($132,580)

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