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MADRID • 8 SEPTEMBER 2015

BENEFIT FROM THE KNOWLEDGE OF LEADING FUND MANAGERS

Speakers

Cédric Daras
NameCédric Daras
Job titleSenior Fund Manager, Convertible Bonds
CompanyRAM Active Investments
TitleHow to improve risk/return profile in a diversified asset allocation?
ContentConvertible bonds remain particularly attractive instruments in this current climate. However, flexibility of the investment process and selection are more key than ever. Our two fund managers will share some of their highest conviction ideas.
BiogCédric Daras is a fund manager specialising in convertible with 14 years of experience. He began his career in 2001 with Prado Epargne (AG2R) before pursuing this specialisation between 2003 and 2011 with Métropole Gestion in Paris where he was co-manager of a convertible bonds funds. From 2008 to 2011, he co-managed in addition a corporate bonds funds. He joined RAM Active Investments in May 2011 where he is co-manager and lead of the RAM Convertible Europe.
Cédric Daras has a master’s degree in economics and a DESS in finance from the University of Aix Marseille III. He also holds CIIA delivered by the Société Française des Analystes Financiers (SFAF).
Olivier Mulin
NameOlivier Mulin
Job titleSenior Fund Manager, Convertible Bonds
CompanyRAM Active Investments
TitleHow to improve risk/return profile in a diversified asset allocation?
ContentConvertible bonds remain particularly attractive instruments in this current climate. However, flexibility of the investment process and selection are more key than ever. Our two fund managers will share some of their highest conviction ideas.
BiogOlivier Mulin is a fund manager specialising in convertible with 9 years of experience. He started his career at Banque d'Orsay / Oddo in March 2006 as convertible bond analyst/fund manager. Between 2012 and 2015, Olivier co-managed the European convertible bond funds at Rothschild & Cie. He joined RAM Active Investments in 2015 and is the co-manager of the RAM Convertible Europe fund.
Olivier Mulin hold a Master in Finance and Asset Management from ESLSCA Business School Paris as well as an MSc in Economics and Management from Paris Dauphine University.
Ivan Fong - Janus Capital
NameIvan Fong
Job titleClient Portfolio Manager
CompanyJanus Capital
TitleLooking for absolute return: Bill Gross and his "Unconstrained" approach
ContentPortfolio Manager Bill Gross utilises his four decades of investing experience, seeking to deliver a portfolio that is designed to navigate ever-changing market conditions and provide portfolio diversification. During the presentation, Client Portfolio Manager Ivan Fong will discuss the Fund’s broad investment guidelines that allow Mr. Gross to express his outlook in the global fixed income arena.
BiogIvan Fong is the Client Portfolio Manager on the Janus Global Unconstrained Bond Fund. Ivan joined Janus Capital in 2011 as Sales Director for Asia ex-Japan and was previously responsible for developing institutional business in the Asia ex-Japan region.
Prior to joining Janus, Mr. Fong spent eight years with BlackRock including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. At BlackRock, he covered institutional business development. He had also been product specialist for multi-asset and alternative products; and had been responsible for the delivery of Client Advisory & Solutions services to institutions in Asia ex-Japan where he worked on tailor made investment solutions and provided advice on strategic investment issues such as asset allocation and portfolio construction.
Mike Zelouf - Legg Mason
NameMike Zelouf
Job titleClient Portfolio Manager of Legg Mason Western Macro Opportunities Bond Fund and Head of Western Asset European Business
CompanyLegg Mason
TitleThe need for a flexible bond strategy in a challenging environment
ContentMike Zelouf, Director of EMEA Business at Legg Mason firm Western Asset Management, has 30 years of investment experience. He will discuss how the unconstrained nature of the Macro Opportunities fund enables it to respond to rapidly changing conditions and can provide diversification away from traditional fixed income strategies.
BiogMike Zelouf is the managing director of Western Asset Management Company Limited, the UK subsidiary of one of the world’s largest fixed income investment management firms. As the Director of Business - EMEA, Mike has overall responsibility for all business operations in the London office as well as for business and product development in Europe, the Middle East, Africa and Central Asia. He is also a trustee of Western Asset’s pension scheme and served for a number of years a director of Western Asset’s and later Legg Mason’s Irish offshore funds company.

He joined Western Asset in 1996 as head of international portfolio management and until 2008 had responsibility for managing global and global multi-sector portfolios. Mike began his investment career in 1987 as a research analyst for Fuji Bank and later as a portfolio manager for Lehman Brothers Global Asset Management focusing on US, European and global portfolios. Prior to this, he worked as a chemical engineer for British Petroleum with a focus on artificial intelligence applications. Mike graduated from Imperial College, University of London in 1984 with a BSc (hons) in Chemical Engineering, is a Chartered Financial Analyst and holds a masters diploma in non-executive directorship. He is a regular speaker at financial services industry conferences and has submitted a number of papers to finance industry academic journals
ING Investment Management
NameEwout van Schaick
Job titleHead of Multi-Asset Strategies
CompanyNN Investment Partners
TitleStable capital growth from a flexible multi-asset strategy
ContentWe have entered into a world of uncertain times, lower economic growth, more fragile markets and a low yield environment, where emotional factors often drive investment returns.
This environment requires new solutions which are flexible and adaptive and exploit global investment opportunities across multiple asset classes while limiting downside risk.

This is why we believe that analyzing and understanding the market ecology is essential. Given the fact that markets are driven by fundamental and behavioral factors, by considering both, we can arrive at superior investment views. Consequently, in this step of the investment process, we apply our proven investment view generation process. The views are a reflection of our conviction on the direction of the market and, the tactical overlay aims to allocate the portfolio towards asset classes, regions and sectors that are expected to be most rewarded.

BiogEwout van Schaick heads the Multi Asset Strategies team within the Multi Asset investment boutique of NN Investment Partners. Ewout is lead portfolio manager for a number of investment funds, including the First Class Multi Asset Fund. Prior to joining NN IP in 2007, Ewout worked as Portfolio manager at PGGM, the second largest pension fund in the Netherlands, where he was responsible for managing a portfolio of external alpha strategies. Before that, he worked at NIB Capital and ABN AMRO Asset Management. Ewout holds a Master’s degree in Economics from the University of Maastricht and is a CFA charter holder.
Riegler Andreas - RCM
NameAndreas Riegler
Job titleHead of Global Fixed Income
CompanyRaiffeisen Capital Management
TitleEuropean High Yield - still the answer to your yield needs?
ContentECB asset purchases have intensified the search for yield: While negative yields for Euro government bonds have become a new normal investors looking for income have little choice but to move into lower-rated credit. The mechanics of QE pushes investors from low-yielding government bonds to investment-grade corporate bonds, and even further into high-yield.

Raiffeisen Capital Management's experience in managing Euro High Yield bonds coincides with the beginnings of the Euro HY Market in 1999, thus the Asset management company can offer you a reliable track record based on a valid investment process tested already over two default-cycles. The highly experienced and stable management team have on average over 17 years of experience in the industry and 13 years with our firm.
The team is led by Andreas Riegler, Head of Global Fixed Income, who has been the Lead Fund Manger of the Raiffeisen European HighYield for many years. Still today, beside his function as Head of the Team, Andreas co-manages the fund alongside the current Lead Fund Manager Thomas Korhammer and the credit specialists team.
BiogAndreas Riegler joined Raiffeisen Capital Management in 1998, where he was responsible for developing its expertise in the European corporate bond market what was then still a young asset class into Raiffeisen Capital Management's investment universe. Since then “Corporate Bonds” has been expanded into a team of fund managers, in which Andreas Riegler holds an important position. As Deputy Chief Investment Officer for Global Fixed Income, Andreas Riegler is, along with CIO Ingrid Szeiler, responsible for running and administration of Raiffeisen Capital Management's Fixed Income Team.

Andreas Riegler started his career in 1990 as an equity analyst at Länderbank and subsequently performed the same function at two other banks over the next eight years. He received a master's degree in business management from Vienna University of Economics and Business Administration in 1990. Andreas Riegler is a Certified EFFAS Financial Analyst (CEFA) and Certified Management Accountant.