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March 31, 2026 • By Grace Garfoot

On March 26, the Burridge Center for Finance hosted its annual Discussions Dinner, with this year’s theme centered on the complexities of investment strategy in a benchmark‑driven environment.

This year's Discussions Dinner brought together leading industry professionals and Leeds faculty for an evening of research insights, a panel conversation and dialogue about the forces reshaping modern investment strategy. The program focused on how benchmarks, private markets and investor behavior interact to influence portfolio decisions in an increasingly complex financial landscape.

“Our objective was to bring together top practitioners in finance to create a high-quality networking environment and to reinforce CU’s position as a hub for both thought leadership and meaningful industry connections,” said Matthew Fleming, Burridge’s director of operations.

The evening opened with research presentations from Leeds finance faculty. Assistant professor Andrea Buffa shared findings from his paper, “Institutional Investors, Heterogeneous Benchmarks and the Comovement of Asset Prices,” which explores how the benchmarks used by major asset managers can create unintended ripple effects across markets—causing even unrelated assets to move together. Assistant professor Michael Gropper followed with insights from his study, “The Effects of Organizational Trust on Investors’ Expectations and Allocations.” The research reveals that investors consistently expect better outcomes from funds labeled with trusted organization names, even when those labels provide no meaningful information about performance. This trust-driven bias is especially pronounced among individuals with lower financial literacy.

Following the research talks, the program shifted to practitioner perspectives through a moderated industry panel led by Todd Mathias, CFA, head of U.S. ETF Product Strategy & Development at Franklin Templeton. Panelists included Catherine Yoshimoto (FTSE Russell), Jim Rowley (Vanguard), and Michael Lemmon (Citadel), who offered candid views on how benchmarks have evolved and how today’s investors interact with them.

“The original goal of benchmarks was to provide a common measurement tool,” said Yoshimoto. “However, over time they have evolved into something bigger. Some people might be quick to point out the negatives of passive investing, but I think it does benefit household wealth and makes investing more accessible to the common person.”

During the audience Q&A, Mathias summarized the evening’s broader theme: “At the end of the day, clients don’t experience benchmarks; they experience outcomes.”

To close the event, Burridge Faculty Director Shaun Davies sat down with Joe Stork, director of Bow River Capital’s Evergreen team, for a fireside chat. They revisited the evening’s topics with a forward-looking lens. When Davies asked where the industry might be in 2035, Stork emphasized optimism about innovative changes in the field, the expanding role of AI and the volatility of private equity.

“That’s what we’re going to end on,” said Davies. “The future is bright.”

Events like the Burridge Center's Discussions Dinner ensure that academia and industry remain in dialogue—advancing knowledge, fostering collaboration and shaping next-generation leaders. Learn more about programs and events at the Burridge Center for Finance.