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MIAMI• 7&8 MAY 2015

BENEFIT FROM THE KNOWLEDGE OF LEADING FUND MANAGERS

Speakers

Laurent Crosnier - Amundi
NameLaurent Crosnier
Job titleCIO Amundi London
CompanyAmundi
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?
BiogLaurent Crosnier began his career in the financial industry in 1989 as a futures trader at ODDO, a European investment banking boutique. He joined Amundi in 1991 as a Euro Fixed Income manager and has been focusing on Euro Corporate management since 1997.
Laurent was appointed Head of Inflation, Duration & Credit management in 2006 and then promoted Head of the Euro Fixed and Credit Department in 2008. In April 2010, he was appointed Chief Investment Officer of Amundi London Branch.
Laurent holds a Bachelor’s degree in Economics and a Postgraduate degree in Economics and Finance from the University of Paris Dauphine. He is also a CFA Charterholder.
Muhammed Yesilhark - Carmignac
Name Muhammed Taha Yesilhark
Job title Head of European Equities
Company CARMIGNAC
Title How to generate positive returns irrespective of market conditions?
ContentAs the long awaited European QE is keeping its promise to inflate assets prices, equities multiple expansion is propelling stocks to levels hardly justifiable from a fundamental perspective. However, the last quarter of 2014 gave investors a fair warning that volatility could be back with a vengeance. In this context, Muhammed Yesilhark, Head of the European Equities at Carmignac will explain why stock picking is crucial. He will also highlight the benefits of an approach focused on asymmetric risk/reward situations with a clear path to value crystallization in order to deliver positive risk adjusted returns.
BiogMuhammed is currently the Head of European Equities at Carmignac, one of Europe’s leading asset managers with approximately $60bn of AuM. Muhammed started his career as an Analyst at Lazard's Frankfurt office in their M&A practice. After his time at Lazard, Muhammed moved to London to join York Capital, a New York based event driven hedge fund with $26bn AuM. At York he became one of the youngest Directors of a leading hedge fund in the financial services industry in London at the age of 27. In 2009, Muhammed, then 29, joined SAC ‘s London office as Partner and Portfolio Manager. SAC was a US based hedge fund with $15bn AuM. There, Muhammed managed a European equities portfolio, together with a team that he hired. Muhammed, born and raised in Germany, is fluent in English, German and Turkish and can speak basic Spanish. He is married and has two children.
Sam Shapiro USE - GSAM
NameSam Shapiro
Job titleClient Portfolio Manager, Quantitative Investment Strategies
CompanyGoldman Sachs Asset Management
TitleTransformational technology: Big data applications in investment management
ContentThe world of data is exploding; according to IBM, over 90% of the data in the world today was created in the past two years. This sort of transformational technology is affecting every industry and has the potential to determine winners and losers in many sectors. In his presentation, Sam Shapiro will explore how GSAM’s CORE equity strategies leverage big data to generate investment insights and identify investment opportunities.
BiogSam Shapiro is a member of the Quantitative Investment Strategies team working on research, strategy and client communication for the broad suite of active equity portfolios. Previously, Sam was a research associate on the Institutional Investor ranked quantitative strategy research team at Sanford C. Bernstein and Co., where he focused on global equities. Sam graduated from Carnegie Mellon University with an MS in Computational Finance. He also holds a BA in Mathematics from Yeshiva University.
Nick Sheridan - Henderson
NameNick Sheridan
Job titleFund Manager
CompanyHenderson Global Investors
TitleValue investing and QE – a powerful combination
ContentEurope has swung back into favour with asset allocators in 2015, encouraged by a weaker euro, lower oil price and the European Central Bank’s quantitative easing programme, which launched in March. We have started to see the impact of these factors on the real economy, with money supply strong, purchasing managers’ indices generally above 50 (indicating sector growth) and other leading indicators moving in the right direction. In addition, there are signs that recent deflationary prints could be temporary, rather than structural. Given this improving, yet still uncertain, backdrop, Nick Sheridan will look at why valuation remains so important.
BiogNick Sheridan joined Henderson following the acquisition of New Star. He has proven fund manager experience in equities and has been managing money since 1989. He worked as a Senior Portfolio Manager at Wise Speke before joining BWD Rensburg in 1990 as their Director of Gross Funds and Manager of their Staff Pension Fund. Prior to joining New Star in 2007, he worked at Tilney from 2001 as director of European equities.
Nick has passed the Securities Industry Diploma and holds a BA (Hons) in Politics from Liverpool University.
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NameJeff Bakalar
Job titleManaging Director and Group Head
Company NN Investment Partners
Title Senior Secured Loans: where to from here?
Content Senior loans represent a unique asset category with the potential to provide investors with current income as well as significant portfolio diversification. The combination of floating rate income, collateral security and seniority in a borrower’s capital structure means that senior loans can act as a natural hedge against rising interest rates while at the same time offering the security of assets that are backed by collateral. 2014 will be remembered as an eventful year for the senior loan market. Fueled by the expectation of normalizing interest rates and a firm belief in the structural advantages afforded by loans, investors are wondering what's in store for the coming year and beyond. Is it finally time to embrace a floating rate asset class?
BiogJeff is Managing Director and Group Head of the Voya Investment Management Senior Loan Group. He co-manages the Group with Dan Norman, and he is co-chairman of the Group’s Investment Committee. Jeff has over twenty-five years of investment and banking experience. Jeff joined the firm’s predecessor in 1998 and became part of the investment team for what is now Voya Prime Rate Trust. He became the co-head of the firm’s senior loan business in January of 2000 and, with Dan Norman, created and implemented the Voya Senior Loan Strategy in January of 2001. Jeff is currently a member of the board of directors of the Loan Syndications and Trading Association. Jeff began his career as an associate with Continental Bank in 1987, serving in various credit and corporate finance roles, including establishing and managing derivatives trading lines with international bank counterparties, and structuring and monitoring various classes of asset-backed transactions. In 1994, Jeff joined the Communications Division within The First National Bank of Chicago, ultimately serving as a senior underwriter responsible for structuring and managing leveraged transactions for issuers in the broadcasting and media sectors. Jeff received his B.S. degree in finance with honors from the University of Illinois Chicago in 1986, and his M.B.A. in finance with highest distinction from DePaul University in 1992.
Brian Arsenault - Lord Abbett A
NameBrian Arsenault
Job titleInvestment Strategist, Leveraged Credit
Company Lord Abbett
TitleInvestment Opportunities in the Leveraged Credit Markets
ContentPlease join Brian Arsenault as he discusses Lord Abbett’s leveraged credit outlook, focusing on the implications for Lord Abbett's Multi-Sector Strategy. The global dearth of yield and income should continue to provide a tail wind for the high yield bond and leveraged loan markets in 2015. Brian will also discuss investment themes that the team is currently following such as the M&A boom impact on the high-yield market, the all-important energy sector and the implications of low oil prices for other sectors of the market.
BiogBrian Arsenault is responsible for providing the portfolio management teams with investment insight and market information for Lord Abbett’s leveraged credit strategies. He also communicates with institutional clients and prospects regarding current portfolio positioning and our market outlook. Mr. Arsenault also collaborates with the consultant relations, product development, and relationship management teams.
Mr. Arsenault has over 20 years of experience in the global credit markets. Before joining Lord Abbett, he led research and strategy at Claren Road, a credit hedge fund; prior to that, he served in a similar capacity at III Associates. From 2003 to 2008, he worked at Morgan Stanley as a Leveraged Finance Strategist, where he was twice recognized as an All-American High-Yield Analyst by Institutional Investor. He began his career at JP Morgan Securities in 1994.
Mr. Arsenault earned a BS from Seton Hall University and an MBA from the University of Rochester’s Simon School of Business.
Maria Municchi - M&G
NameMaria Municchi
Job titleInvestment Specialist
CompanyM&G Investments
TitleMulti-Asset investing at M&G: a key to innovation, scalability and diversification
ContentIn an environment where headline valuations in many equity and bond markets around the world are becoming increasingly challenging, it is as important as ever that investors get their asset allocation right. We believe a dynamic and innovative multi-asset portfolio could support investors to face those challenges. At M&G, our approach to multi asset investing combines the firm assessment of valuations and fundamentals with a focus on exploiting behaviourally driven market movements. We strongly believe that our investment philosophy can provide investors with innovation, scalability and diversification in their search for returns.
BiogMaria Municchi joined M&G in 2009 and is part of the Multi Asset and Convertibles teams. She provides support as investment specialist covering the multi-asset and convertible funds. Before joining M&G, Maria worked at Barings and UBS Asset Management. She has an MSc in international management and finance and is a CFA charterholder.
Sunil Asnani - Matthews Asia
NameSunil Asnani
Job titlePortfolio Manager
CompanyMatthews Asia
TitleIndia: What Lies Ahead
ContentAfter a strong year of equity market performance in 2014, Portfolio Manager Sunil Asnani will assess the potential impact of further reforms and monetary policy on India’s equity markets in 2015. Sunil will explain his focus on small-cap and mid-cap companies and how he constructs the Matthews India Fund portfolio. He will also explore the factors India-watchers should consider regarding current market expectations and discuss why India remains an attractive long-term investment opportunity.
BiogSunil Asnani is a Portfolio Manager at Matthews Asia and manages the firm’s India Fund. Prior to joining the firm in 2008 as a Research Analyst, he was a Senior Associate in the Corporate Finance and Strategy practice for McKinsey & Company in New York. In 2006, Sunil earned his M.B.A. from The Wharton School of the University of Pennsylvania. From 1999 to 2004, he served in various capacities, including as Superintendent of Police, for the Indian Police Service in Trivandrum, India. Sunil received a Bachelor of Technology degree from the Indian Institute of Technology in Delhi, India. He is fluent in Sindhi, Hindi and Malayalam.
Justin Wells - OMGI
NameJustin Wells
Job titleInvestment Director, Global Equities Team
CompanyOld Mutual Global Investors
TitleTaming the Power of Equities
ContentInvestors seek the powerful returns offered by equity markets – but need ways to tame the volatility. In the past, regional diversification was the key. But in a world of global markets and commoditised information, markets move in lockstep and spreading allocations across regions is no longer adequate. Our range of global and regional equity funds offer a potential solution. Available as both long/short and long-only funds, they employ a process which focuses on stock selection, but which takes account of investor risk appetite. By continuously screening a wide range of stocks, they are able to deliver strong performance combined with ‘diversified alpha’, returns which tend to have a low correlation to funds comprising a concentrated portfolio.
BiogJustin Wells is the Investment Director within the Global Equities team at OMGI. The Global Equities team manage both Global and Regional Equity long only strategies, as well as a Global Equity Market Neutral strategy with both a UCITS and a hedge fund, using the same investment process. Prior to joining OMGI, Justin worked as the Equity Strategist in the Emerging Market Equities team at UBS Global Asset Management, based in Zurich. As a participant in the EM Investment Committee, during that time, he was involved in discussions around investment process and strategy. 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 Pacific 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.
Andrew Dreenean - Schroders
NameAndrew Dreenean
Job titleHead of Schroder GAIA Product & Business Development
CompanySchroders
TitleWinning alternative strategies in 2015
ContentSchroders are pioneers in the liquid alternatives space and currently manage $32bn across 30 different strategies some of which have been operating successfully for more than 20 years. Andrew will discuss 3 liquid alternative investment strategies which have a proven track record of producing consistent risk adjusted returns with a low correlation to broad markets and proven downside protection.
BiogAndrew Dreaneen is Head of Schroder GAIA Product & Business Development. He is responsible for business development of the Schroder GAIA hedge fund platform globally involving manager selection, product development, product management, sales and marketing.
Prior to this, Andrew was Head of Product Development for a number of Schroders UCITS and alternative fund ranges. His career commenced in 1998 in New Zealand in an alternative investment boutique (FMG). Andrew joined Schroders in 2000.
Michael McCune - Robeco
NameMichael McCune
Job titleClient Portfolio Manager
Company Robeco
TitleRevolution in Asset Management: FACTOR INVESTING
ContentRobeco's conservative equity strategies are designed to capture the equity premium with substantially lower downside risk. The strategy has an absolute risk/absolute return focus, aiming to maximize risk-adjusted returns.
Robeco conservative equity is managed on the basis of a purely bottom-up driven investment approach. It combines the outcome of our proprietary quantitative stock selection model for conservative equity with a disciplined portfolio construction algorithm and a unique set of risk controls.
Stock selection is the sole performance driver used, as determined by our quantitative stock selection model for conservative equity. This model is based on one of the oldest documented market anomalies: the low-risk anomaly. It was build, based on award-winning research by Robeco, on the notion that low-risk stocks realize superior long-term returns over higher-risk stocks.
BiogMichael McCune joined Robeco in 2003. His career with Robeco has been focused Quantitative Equity and International Equity products. He began his career at Robeco as a quantitative analyst, later became a portfolio manager, and now serves as the North American based resource for Robeco’s International, Global, and Emerging Market Equities teams. Prior to joining Robeco, he spent two years with Deutsche Asset Management as a quantitative analyst, one year with JP Morgan Chase as a performance analyst, and two years as an assistant portfolio manager with PNC Financial Services. He holds a B.S. degree (Cum Laude) in finance from Villanova University, and an M.B.A. degree (Cum Laude) from New York University. Mr. McCune has 20 years of investment experience.