35th Anniversary Seminar
“ETFs, Indexing and Market Impact”
Hotel Karel V, Utrecht, The Netherlands
12 – 14 October 2025
Sunday, 12 October 2025
| 19:00-20:00 | Registration and cocktail reception, Grand Hotel Kavel V |
| 20.00-22:00 | 35th Anniversary Dinner Inquire Europe, Grand Hotel Karel V |
Monday, 13 October 2025
| 7:30-8:45 | Breakfast |
| 8:45-9:00 | Welcome |
| 9:00-10:00 | Keynote: Passive Investing and Market Efficiency Dimitri Vayanos (London School of Economics) |
| 10:00-11:00 | Shifting from Active to Passive: How Retirement Plans Impact Equity Prices Riccardo Sabbatucci* (Stockholm School of Economics), Andrea Tamoni (University of Notre Dame) and Song Xiao (The Chinese University of Hong Kong) |
| 11:00–11:30 | Refreshment break |
| 11:30–12:30 | The Unintended Consequences of Rebalancing Campbell R. Harvey* (Duke University), Alessandro Melone (Ohio State University) and Michele G. Mazzoleni (Capital Group) |
| 12:30–14:00 | Lunch |
| 14:00–15:00 | Keynote: ETFs, Mutual Funds, and Investor Flows Laura Starks (Texas at Austin) |
| 15:00–16:00 | The Impact of Active Managers on the Pricing of Underlying Assets in ETFs Ziwei Zhao* (University of Lausanne) and Charles Trzcinka (Indiana University) |
| 16:00-16:30 | Refreshment break |
| 16:30–17:30 | Cross-ETF Arbitrage Adam Reed* (University of North Carolina), Brian J. Henderson (George Washington University) and Spencer Andrews (Office of Financial Research) |
| 18:30–22:30 | Social program Guided tour and dinner at Museum Speelklok (museum of Self-Playing Musical Instruments) |
Tuesday, 14 October 2025
| 7:30-8:30 | Breakfast |
| 8:30-9:30 | Bond Valuation Dispersion and ETF Creation Russell Wermers* (University of Maryland), Alan Guoming Huang, University of Waterloo, Jinming Xue and Xing (Alex) Zhou (Southern Methodist University) |
| 9:30-10:30 | Passive Demand and Active Supply: Evidence from Maturity-mandated Corporate Bond Funds Tiange Ye* (USC Marshall School of Business) Lorenzo Bretscher* (University of Lausanne) and Lukas Schmid (USC Marshall School of Business) |
| 10:30–11:15 | Inquire Europe Annual Business Meeting and Refreshment break |
| 11:15–12:15 | Does Active Fund Management Add Value to Shortsale-Constrained Investors? Raman Uppal* (EDHEC Business School), Victor DeMiguel (London Business School) and Alberto Martin-Utrera (Iowa State University) |
| 12:15–13:30 | Lunch and closing of the seminar |
| Afternoon | Optional joint program of Inquire Europe and Netspar “Navigating Dutch Pension Reform” |
| 13:30-13:45 | Introduction of Netspar and Inquire Europe Mathijs van Dijk (Netspar, Scientific Director) and Marie Briere (Chair of the Board of Inquire Europe) |
| 13:45-14.45 | What’s happening in the Netherlands with the pension reform Bas Werker (Netspar & Tilburg University) |
| 14.45-15.45 | Scenario generator that Dutch pension funds and insurance companies are obliged to use for their quantitative analyses Joost Driessen (Tilburg University, Professor of Finance) |
| 15:45-16:30 | Closing and informal drinks |
* speaker at the seminar