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HAMBURG • 7 - 9 OCTOBER 2015

BENEFIT FROM THE KNOWLEDGE OF LEADING FUND MANAGERS

Speakers

Imre Tajti - Aberdeen
NameImre Tajti
Job titleInvestment Manager, Emerging Market Debt
CompanyAberdeen Asset Management
TitleTopic will be Emerging Market Total Return
ContentEmerging market bonds provide impressive yields compared to other fixed income assets but are also associated with higher level of volatility. The total return concept can offer investors access to attractive emerging bonds with lower risk level. Imre Tajti will introduce Aberdeen’s approach, where the fund manager has great flexibility in EM/DM allocation, free to pursue long-short country and fx strategy or more active duration management to enhance return and more importantly: deliver added value with lower volatility.
BiogImre Tajti is an Investment Manager on the EMD team based in Budapest. Imre joined Aberdeen in 2012 from ING Investment Management Hungary where he worked as Senior Fixed Income Investment Manager and was responsible for all fixed income investment. Previously, Imre worked for National Bank of Hungary as Investment Manager managing the national reserves of the country in USD and EUR. Imre graduated with a MSc in Economics from Corvinus University of Budapest. Imre is a CFA charterholder.
Hart Woodson - Advent
NameHart Woodson
Job titleManaging Director, Global Convertibles Portfolio Manager
CompanyAdvent Capital Management
TitleExploring the Many Roles Convertible Securities Play
ContentExamining convertible securities portfolios and the many roles these strategies can serve in asset allocation:
• Boosting fixed income returns
• Dampening volatility and de-risking an equity portfolio
• Improving diversification through low correlation and positive asymmetry
BiogHart Woodson has been the Co-Portfolio manager of the Global Balanced Convertible Strategy and the Global Phoenix Convertible Income Strategy since its inception. In 2002 he ‘wrote the book’ on convertibles - Global Convertible Investing.
Prior to joining Advent, Mr. Woodson was a Senior Vice President at GAMCO Investors, Inc. where he managed the Gabelli Global Convertible Securities Fund since its inception in 1994. Prior to joining GAMCO predecessor Gabelli Asset Management in 1993, Mr. Woodson was a Vice President of ABN AMRO Bank in the Netherlands in New Issues and Syndication. Earlier, he worked for AMRO Bank in New York in the Capital Markets Group. Mr. Woodson was also a Credit Analyst at Meridien International Bank.
Mr. Woodson is a graduate of Trinity College and received a Master’s Degree in International Affairs, specialising in International Finance and Banking from Columbia University.
Adrian Bender - Amundi
NameAdrian Bender
Job titleHead of Product Specialists Global Fixed Income, Global Macro & FX, Amundi London
CompanyAmundi Asset Management
TitleGlobal Fixed Income in an Absolute Return Environment
Content2015 will continue to be a complex economic environment for fixed income investors with continued divergent monetary policies within the main economic centers likely to lead to disparate bond yields. Meanwhile, the combination of abundant liquidity and low interest rates will continue to limit the sources of return. Alpha generation will be key in achieving high returns in this ultra-low yield environment.
So how can fixed income investors navigate this environment? What are the main issues likely to impact the fixed income market? Where can one find value and what approach is best suited to achieving your objective?
BiogAdrian joined the team as a Senior Product Specialist in July 2010, and was subsequently named team Head in November 2014. The team of six members is responsible for supporting the Global Fixed Income strategies on a worldwide basis through the Amundi sales teams. Adrian has retained direct responsibility and supervision for the European market.
Prior to moving to the Product Specialist team, Adrian was Head of UK fund distribution of Amundi London (previously CAAM).
Adrian worked in the asset management industry for eight years in Paris for CAAM and Crédit Lyonnais AM where he was responsible for French corporate and Institutional Midcap clients and also spent 10 years working for the Crédit Lyonnais bank in Paris, in private and commercial banking.
Adrian holds Bachelor’s degree (Hons) from Middlesex University in the UK and CESEM business school in Reims, France.
Kay-Peter Tönnes - Antecedo
NameKay-Peter Tönnes
Job titleChief Investment Officer
CompanyAntecedo Asset Management
TitleBenefit from Liquid Alternative Investment Strategies
ContentThe Equity market rally has pushed leading indices to new all-time-highs. Bond markets are still in a low interest rate environment, so achieving attractive returns will be still difficult in the near future. We believe that 2016 will continue to be a challenging market environment for investors and the potential downside risk in the traditional asset classes stocks and bonds have increased significantly.
On our presentation we will show, how we create performance despite these obstacles and how Antecedo uses option strategies to capture option premiums effectively. We will illustrate that market risks can be used to construct an asymmetric risk return profile which can give an attractive diversification advantage – proven in the Antecedo Independent Invest Strategy, implemented for more than 6 years.
BiogKay-Peter Tönnes has more than 25 years of experience with liquid alternative investment strategies. Prior to founding Antecedo Asset Management, Kay-Peter was a founding member of Lupus Alpha Alternative Solutions GmbH in Frankfurt, where he was responsible for the development of different liquid alternative investment strategies and launched one of the first Hedge Funds in Germany. Prior to that, he worked several years as Senior Portfolio Manager for mixed portfolio funds of Metzler Investment GmbH in Frankfurt. He started his career as Portfolio Manager at Basler Versicherungen AG in Bad Homburg. Kay-Peter received his diploma degree in business science at the University of Cologne.
Steve Ralff - BlackRock
NameSteve Ralff
Job titleDirector, Product Strategist in BlackRock’s Global Real Estate Securities Group
CompanyBlackRock
TitleGlobal real estate securities
ContentGlobal real estate securities: Leading BlackRock RE Securities specialists will focus on the benefits of the asset class relative to other sources of real estate exposure and how BlackRock seeks consistent alpha via its proprietary risk and valuation framework.
BiogSteven Ralff, CFA, Director, is a member of the Real Estate Product Strategy team within BlackRock Alternative Investors. He is responsible for marketing and developing products for the Global Real Estate Securities Group.
Prior to joining BlackRock in 2013, Mr. Ralff was a manager of the Institutional Services team at Davis Advisors overseeing client and consultant relations. His sixteen years of investment related experience also includes working as a financial analyst for ING as well as marketing roles with JW Seligman and Alliance Capital.
Mr. Ralff earned a BA degree in history from Tulane University in 1991.
James Wilkinson - BlackRock
NameJames Wilkinson
Job titleManaging Director, Co-Global CIO of BlackRock’s Global Real Estate Securities Group
CompanyBlackRock
TitleGlobal real estate securities
ContentGlobal real estate securities: Leading BlackRock RE Securities specialists will focus on the benefits of the asset class relative to other sources of real estate exposure and how BlackRock seeks consistent alpha via its proprietary risk and valuation framework.
BiogJames Wilkinson, Managing Director, is the Co-Global Chief Investment Officer of the Global Real Estate Securities Group with 18 years investment experience.
James was previously a fund manager at Thames River Capital where he worked on a range of traditional long only and long/short real estate securities funds, including the S&P Capital IQ Gold rated Thames River Real Estate Securities Fund. Prior to this, he worked at Henderson Global Investors as a member of the European real estate securities team. James began his career at Healey & Baker as a Chartered Surveyor.
Since 2014, James has sat on the EPRA Advisory Board and in 2015 he joined the EPRA Board of Directors.
James graduated from the University of East Anglia with a BA Hons degree in Philosophy and gained his MA in Property Valuation and Law from City University Business School, London (now Cass Business School). James is a Member of the Royal Institution of Chartered Surveyors.
Bart Van Poucke - BNP
NameBart Van Poucke
Job titleHead of Portfolio Management Multi Asset
CompanyBNP Paribas Investment Partners
TitleLooking beyond traditional income-generating investments
ContentIn their search for income, investors too often limit their choices to either bond or high dividend equity funds. Yields on bond investments may be too low whilst high dividend equities may be too risky. BNP Paribas L1 Multi-Asset Income seeks to overcome these challenges. The fund offers a one-stop investment solution targeting income generation through a diversified multi-asset portfolio combined with a flexible approach.
The fund, managed by the Multi Asset Solutions team aims to distribute an attractive and regular annual income of 4% and offers potential for capital appreciation. Launched in 2005, the fund dynamically invests across various global asset classes, including high dividend equities, high income listed real estate, investment grade corporate bonds, high yield bonds, government bonds and emerging debt. This diversification aims to ensure that the pursuit of income is not carried out at the expense of risk.
BiogBart has been Head of Portfolio Management for Benelux within our Multi Asset Solutions team since 2007. In this role he oversees a team of four portfolio managers and is the lead portfolio manager for our BNPP L1 Multi-Asset Income fund, which the Multi Asset Solutions team has been responsible for since its launch in 2005 as well as the BNPP A European Multi-Asset Income fund. He also manages a number of other multi-asset portfolios, including the BNP Paribas B Pension Fund in Belgium, for which he received the “De Tijd” Fund Award for Best Pension Saving Fund in the Belgian market for the last 3 years. Bart is based in Brussels.
Bart joined the Multi Asset Solutions team as a portfolio manager in 2006. He joined Fortis Investments, a predecessor company of BNP Paribas Investment Partners, in 2001 as a GIPS & Performance Measurement Specialist for the Performance and Risk team in the Brussels office.
He has 14 years of investment experience. Bart holds a master’s degree in banking and finance from the University of Ghent in Belgium.
Yasuyuki Kanda - Tokio Marine
NameYasuyuki Kanda
Job titleChief Executive Officer/ Chief Investment Officer, London Office
CompanyTokio Marine Asset Management
TitleJapan 2.0: Start of a New Japan
ContentMany people still think the Japanese recovery is just because of Abenomics and a weaker Japanese yen. But we do not believe the recovery is cyclical. Instead, we believe this is the direct result of economic and corporate restructuring during the previous 20 years of deflation.
Japan is not what it used to be: it’s a ‘new’ Japan or Japan 2.0 as we call it.
As one of the largest Japanese active managers with over $50bn AUM and 30 years’ experience in the industry, TMAM is ideally placed to help navigate our clients through this ever-changing environment.
Yasu Kanda, our London regional CEO/CIO, shares his views on how to become a winner in this challenging market.
BiogAppointed in July 2013 as Chief Executive Officer/ Chief Investment Officer of Tokio Marine Asset Management (TMAM), London, Yasu leads global business development and product management for traditional and alternative asset classes.
Prior to this, Yasu was Head of Hedge Funds Research at TMAM USA and played a vital role in establishing its hedge fund advisory business, which has now grown to become one of the major players in Japan.
Prior to joining TMAM in 2009, Yasu managed Fund of Funds portfolios and global equity investments based in the UK, USA, and Japan for 8 year and developed multiple cross-border business in the Japanese financial industry. He commenced his career in 1995 at Mizuho Financial Group where he developed experience in corporate finance and structured bond origination based in the UK and Japan.
Yasu holds a BA in Economics from the University of Tokyo and an MBA from the Wharton School of the University of Pennsylvania. He is a CFA charterholder.
Clément Maclou - CPR
NameClément Maclou
Job titleThematic Equity Fund Management, Fund Manager of CPR Global Silver Age
CompanyCPR Asset Management
TitleLong-term equity investing benefiting from secular trends through thematic approaches, like global ageing population
ContentMore than five years ago, CPR AM’s thematic equities team started to look for a long-term thematic equities investment, and decided to focus on ageing, a global and non-cyclical phenomenon.
They first launched a European equities fund called CPR Silver Age, and given its success, both in terms of performance and client interest, launched a global version in 2014*. Since inception**, it has outperformed its reference index by 7,6%.
The question is: what is the investment approach of this strategy?
In this workshop, Clément Maclou will begin by presenting the ageing phenomenon through a macroeconomic point of view: figures and studies prove that ageing is global and will not stop in the coming decades. Ageing is a worldwide phenomenon, and touches Europe, the United-States and Japan, among others.
Then, he will talk about CPR Global Silver Age, which consists of investing in companies that benefit from the ageing population.
*Both the European version (CPR Silver Age) and the global version (CPR Global Silver Age) are registered in Germany
**Inception date : 22/12/2014. Past performance are not a reliable indicator for future performances. Performance as of 10/08/2015. CPR Global Silver Age (I share)
BiogClément joined the Equity Team of CPR Asset Management in 2007 as Assistant Portfolio Manager: first as Assistant Portfolio Manager over Global Equitiesportfolios and then over European Equities portfolios. Since 2009, he has been portfolio manager within Thematic Equities department in collaboration with Vafa Ahmadi. Prior to this, he was, between 2005 and 2007, at the Reporting &performance attribution department. Before joining CPR Asset Management, he was an Assistant Fixed Income Fund Manager at Martin Maurel Gestion. Clement holds a post graduate degree in International Financial Management from IAE in Aix-en-Provence - France (Institut des Administrationsd’Entreprises), he is graduated from the Business School ESCE (Paris).
Emre Akcakmak - East Captial
NameEmre Akcakmak
Job titlePortfolio Manager
CompanyEast Capital
TitleBeyond the Frontier – Taking a wider View on Global Frontier Markets
ContentWe like frontier markets as an asset class for many reasons, the main idea being superior growth combined with low volatility and attractive valuations. Due to this, and building on our 17 years of experience in emerging and frontier markets, East Capital launched a global frontier markets equity fund in December 2014. We approach the frontiers markets space by taking a wider view on the investable universe than what any benchmark provides. Our aim is to trek beyond the established universe into the next frontiers early on, which means going to countries as diverse as Saudi Arabia in the Middle East, Rwanda in Africa and Cambodia in Asia. As stock-pickers, we focus on companies exposed to the fast growing middle class. In frontier markets we look for opportunities in food retail, fashion retail, auto, medical care, insurance and air travel, in addition to more traditional early emerging market investment themes like banks and telecoms. We incorporate ESG factors (Environmental, Social and Governance Factors) in our investment process; comprising qualitative parameters that help us understand how ESG factors may impact our investments and to determine that managements’ interests are aligned with minorities, but also hard exclusion criteria of certain sectors including tobacco and weapons.
BiogEmre Akcakmak, Portfolio Manager, is a Turkish national and member of the portfolio management team for Eastern Europe and Global Frontier Markets. He is based in Stockholm. Emre started at East Capital in 2006 and he is currently responsible for investments in Turkey and the Middle East. Previously, Emre worked at the financial audit department of Deloitte & Touche and at the research department of Yatirim Finansman Securities in Turkey. He graduated from the Business Administration Department of Bosphorus University in Istanbul in 2004, then received a Swedish Institute Scholarship and finished the MSc in International Business and Economics program, with specialization in Finance, at Stockholm School of Economics in 2006. He speaks Turkish, English and Swedish and is a CFA charter holder.
Laurent Le Grin - Edmond de Rothschild
NameLaurent Le Grin
Job titleFund Manager Convertible Bonds
CompanyEdmond de Rothschild Asset Management
TitleHow convex is your portfolio?
ContentIn the current volatile and uncertain market environment we aim to wonder how do portfolios
react to upside and downside market movements? By nature, convertible bonds tend to capture the equity upside while limiting the downside. This asymmetry is what we call the “convexity”: taking advantage of market’s growth while limiting the volatility. The defensive nature of convertibles can even be optimised with an active and selective investment management. Laurent Le Grin will introduce Edmond de Rothschild Asset Management expertise in building convex portfolios, choosing only convex instruments in order to profit from the recovery with a limited exposure to markets’ drawdowns.
BiogLaurent Le Grin joined Edmond de Rothschild Asset Management in November 2010 as Portfolio Manager for the Convertible Bond team.
He first worked as an Equity Analyst at the Banque Générale du Luxembourg where he covered banks and technology in Southern Europe. In September 2002, he joined Fortis in Paris to manage European equity funds and micro-caps. In March 2006, he joined the convertible bond team at Fortis Investments/BNP Paribas Asset Management as a Senior European Convertible Bond Manager. Laurent Le Grin holds a Master’s in Banking and Finance and a post graduate degree in Economics from the University of Paris II and is a member of the CFA Institute.
Angus Bell - GSAM
NameAngus Bell
Job titlePortfolio Manager
CompanyGoldman Sachs Asset Management
TitleInvesting Beyond Bonds
ContentWith interest rates at historically low levels, and an outlook for higher rates and increased volatility, investors today face a challenging market environment. Investors looking to navigate these challenges by diversifying their portfolio and potentially enhancing their risk/return profile may wish to consider an allocation to alternative fixed income strategies. The Goldman Sachs Global Strategic Macro Bond Portfolio is a pure macro strategy that seeks to deliver long-term absolute returns in both rising and falling markets. Angus Bell will discuss how The Global Strategic Macro Bond Portfolio is designed to encompass a more market-neutral type of investment, less susceptible to overall economic cycles and to deliver uncorrelated return streams to the traditional exposures within a client’s portfolio.
BiogAngus is a portfolio manager in the Fixed Income Alternatives group within GSAM’s Global Fixed Income team and is based in London. Angus joined the firm in 2005. Prior to his current role, Angus was a member of the Country Strategy team and portfolio manager for the group’s Australian based Fixed Income and Multi-Sector strategies. His responsibilities included tactical asset allocation strategy and driving the macroeconomic analysis for Australia, New Zealand and China. Before this he worked in the Australian Multi-Sector team focusing on global asset allocation research and investment strategy. Angus holds a Graduate Diploma of Applied Finance from the Financial Services institute of Australasia and a Bachelor of Science (Physiotherapy).
Rachel Harris - Henderson
NameRachel Harris
Job titleCredit Product Specialist
CompanyHenderson Global Investors
TitleMapping opportunities in high yield: a European and global perspective
ContentAs Henderson’s global and European high yield bond funds approach their respective second and third year anniversaries this presentation focuses on how the market has changed and the challenges and opportunities facing investors. Particular attention is paid to the credit cycle in different regions, the impact of monetary policy and, given the importance of credit selection in driving high yield returns, the factors we look for in identifying attractive bonds.
BiogRachel Harris joined Henderson in February 2015 as a Credit Product Specialist. Rachel most recently worked for RBS Financial Markets as part of the UK Credit Sales team selling credit product to UK asset managers and insurance companies. Prior to joining RBS, Rachel spent 6 years at Credit Suisse First Boston, latterly in Credit Sales but also worked in Interest Rates and Emerging Markets. Rachel started her career in the financial world at Renaissance Capital in Moscow selling fixed income. Rachel has an MA in Modern Languages from the University of Cambridge.
Richard Batty - Invesco
NameRichard Batty
Job titleFund Manager, Multi Asset
CompanyInvesco
TitleInvesco Global Targeted Return Fund – a fund of ideas
ContentThe Invesco Global Targeted Returns Fund is a fund of ideas. The Multi Asset team has absolute freedom to invest in any idea, anywhere in the world, with no asset class constraints. All that matters is how each idea will impact risk and reward within the overall portfolio. On our workshop you will understand how to achieve genuine diversification through focusing on ideas rather than asset classes and how an integrated risk management process is critical for managing a multi asset portfolio.
BiogRichard joined Invesco Perpetual in March 2013, and serves as a fund manager for the Multi Asset team. Previously, he had worked at Standard Life Investments since 2003 where he was the Global Investment Strategist in their Strategy team which is now part of Standard Life’s Multi-asset Investing team. Prior to joining Standard Life Investments, he began his investment career at James Capel/HSBC as an equity strategist in 1995. In 1994, he was awarded a PhD in Financial Economics from Brunel University.
Justin Wells - OMGI
NameJustin Wells
Job titleInvestment Director, The Global Equities team
CompanyOld Mutual Global Investors
TitleDiversified alpha from Equity markets
ContentActive fund managers need consistency of outperformance and this can only come, in our view, by having several types of stocks in the portfolio at any one time – something the team refers to as diversified alpha. In adopting this method, the team builds a diversified portfolio of stocks that is expected to outperform in the prevailing macroeconomic environment, while applying stringent risk-management techniques, carefully controlling turnover and trading costs, and maintaining strict limits on sector and stock positions.
BiogJustin Wells manages both Global and Regional Equity long only funds, as well as a Global Equity Market Neutral strategy. As a member of the Portfolio Management team, Justin helps evaluate the impact of macro-economic themes across the broader market environment, and participates in discussions around investment process and strategy.
Prior to joining OMGI, Justin worked as a Strategist for the Emerging Market Equities team within UBS Global Asset Management, Zurich. Justin was formerly based in Asia as an Investment Advisor to the then CIO of Shinsei Bank, Tokyo, focusing on emerging market investment opportunities throughout Asia and EMEA. Justin began his career as a Barrister, practising in London. He holds an LLB (Hons.) from the University of Durham and a BA (Hons.) from the Queen's University of Belfast.
T S Anantakrishnan - Religare
NameT S Anantakrishnan
Job titleManaging Partner (Multicap)
CompanyReligare Global Asset Management
TitleInvestment opportunities in South Asia
ContentAn overview of the investment opportunities in South Asia for European institutional investors. Particular focus will be given to the private debt and equity markets and the risks and opportunities they hold.
BiogAnantakrishnan has over 20 years of experience in Portfolio and Risk Management. He is well respected and presents his views on various business channels and forums on investments in Indian Markets. He and the team have demonstrated an enviable track record of beating the market benchmarks. His work experience has spanned across global hedge funds like Shumway Capital ($10bn) to Goldman Sachs Asset Management Company. He has completed his MBA from NYU Stern. He is a qualified CFA and Financial Risk Manager (FRM) and has an Electronic Engineering degree from IIT Roorkee.
Kanchan Jain - Religare
NameKanchan Jain
Job titleManaging Partner (Credit)
CompanyReligare Global Asset Management
TitleInvestment opportunities in South Asia
ContentAn overview of the investment opportunities in South Asia for European institutional investors. Particular focus will be given to the private debt and equity markets and the risks and opportunities they hold.
BiogKanchan is the CEO and Principal Managing Partner at Religare Credit Advisors LLP, one of the leading originators and managers of Private Debt in India. Kanchan leads a team of experienced professionals that specialises in private and secured debt structuring and combines 100+ years of experience in credit, risk and structured transactions across international and Indian markets. Kanchan has 21 years of experience across financial markets in India, Asia and Europe across diverse functions of risk management, transaction origination & structuring, underwriting & due dliligence, and fund raising.
Prior to her current position at RCAL, Kanchan was Chief Risk Officer for Religare Finvest Limited (RFL), responsible for Risk across all and also responsible for setting up the Structured Finance business. RFL is a NBFC with presence in 25 cities across India and 20,000+ customer base.
Prior to her stint in India, Kanchan was based out of London for 10 years. She was Managing Director at HSBC in London, responsible for Credit Structuring for EMEA, and prior to that at Barclays Capital as Director in the Structured Credit business. She has also worked in Hong Kong with Peregrine Fixed Income Limited across various credit functions covering Asian corporates. Kanchan started her career with The ICICI Limited, leading financial institution in India as a part of the Project Finance team. Kanchan is an Electronics Engineer and has done her MBA from Indian Institute of Management, Calcutta.
John Otis - Brandes
NameJohn Otis
Job titleInstitutional Portfolio Manager
CompanyBrandes Investment Partners
TitleFinding Value in European Equities
ContentGlobal equity markets are seeing a divergence in performance and valuations. As a result, at Brandes we are currently finding very attractive value opportunities in a variety of different sectors and countries. We will focus on the opportunities currently available in European equities for a value investor applying a bottom-up, flexible approach through the Brandes European Value Fund.
BiogJohn Otis works with institutional clients and their consultants in the Europe, Middle East, and Africa (“EMEA”) region to provide insights and interpretation of the firm’s portfolio strategies and investment philosophy He coordinates with Investment Committees to ensure that we accommodate client-specific guidelines and consider existing portfolio allocations when implementing investment decisions
John serves on the board of directors of Brandes Investment Funds plc, Brandes’ Dublin-based UCITS funds.
John joined Brandes Investment Partners in 1997 and has a BS in business administration from San Diego State University.