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BENEFIT FROM THE KNOWLEDGE OF LEADING FUND MANAGERS

SWITZERLAND• 28-30 APRIL 2015

Speakers

Max Wolman - Aberdeen SMALL
NameMax Wolman
Job titleSenior Investment Manager
CompanyAberdeen Asset Management
TitleThe myths and realities of emerging market corporate bonds
ContentSeparating the myths from the realities of emerging market corporate bonds. Siddarth Dahiya will seek to dispel the untruths regarding market size, default rates, diversification and issues around the high yields status of EM corporate bonds. We will show you why we believe that the fundamentals remain favourable, with low default rates , higher cash levels and strong profitability. To conclude, a unique insight into Aberdeen’s process and performance in the product will be given.
BiogMax Wolman is a Senior Investment Manager on the EMD team. Max joined Aberdeen in 2001, from Liontrust Asset Management, initially covering FX dealing at Aberdeen. In 2003 he joined the EMD team bringing his knowledge of currencies to help analysis local EM markets. He has since covered EM corporates and helped launch Aberdeen’s EM corporate strategy, offering a top down view when investing in the asset class. Max graduated with a BA (Hons) in Business and Hospitality Management from Leeds University and he has a Graduate Diploma in Finance from the University of London. Max is a CFA Charterholder.
Laurent Crosnier - Amundi
NameLaurent Crosnier
Job titleCIO Amundi London
CompanyAmundi
TitleGlobal Fixed Income in an Absolute World: Exploring key market drivers and seeking out the best opportunities
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.
Argonaut Capital Partners
NameBarry Norris
Job titleFounding Partner & Fund Manager
CompanyArgonaut Capital Partners
TitleSearching for Earnings Surprise, the Long and Short Story
ContentEurope is a vast and varied equity opportunity set where the only constant is change in the sources of risk and reward. Argonaut founder, Barry Norris, will discuss how Argonaut identifies both positive and negative earnings surprise and how a long/short portfolio of single stocks can produce compelling absolute returns in changing market environments.
BiogBarry Norris founded Argonaut in 2005 and manages the FP Argonaut Absolute Return fund using his “earnings surprise” investment process. Barry began managing money in 2002 at Neptune, having begun his career at Baillie Gifford. He was educated at Cambridge University and has an MA in History, and an MPhil in International Relations. He also holds the CFA charter.
Richard Mathieson - BlackRock
NameRichard Mathieson
Job titleManaging Director, Scientific Active Equity
CompanyBlackRock
TitleTo talk about Global Long Short Equity
ContentEquity markets are becoming increasingly complex. The digital age has seen an exponential increase in the level of information that investors must process. As one of the pioneers of quantitative investing, BlackRock’s Scientific Active Equity (SAE) team is founded on a culture of continual innovation and over 30 years of experience in understanding the drivers of stock returns. Richard Mathieson, lead investment strategist for SAE in EMEA, will demonstrate how the BSF Global Long / Short equity Fund uses sophisticated analysis techniques to capture all of the information that is relevant for forecasting stock returns in today’s global equity markets in order to deliver differentiated returns for investors.
BiogRichard is Head of Investment Strategy, Europe for BlackRock’s Scientific Active Equity Team. He is part of the investment team responsible for managing the BSF European Diversified Equity Absolute Return Fund (EDEAR). His service with the firm dates back to 2002, during which time he served as a senior portfolio manager responsible for managing both long only and market neutral strategies.
Ann Steele - Threadneedle1
NameAnn Steele
Job titleFund Manager
CompanyColumbia Threadneedle Investments
TitleA Spring in the step for European equities – a stock picker’s perspective
ContentIn this presentation and workshop we will aim to explain the major economic, political and stock market factors that have been influencing European economies and stock markets this year and in the recent past. There will be a focus on how this has influenced stock picking within Columbia-Threadneedle and how we have positioned portfolios to benefit from our views. There will be an opportunity to discuss individual stock and sector views, as well as focussing on what we believe is a more positive outlook for Europe in a global context for 2015 and beyond.
BiogAnn joined Columbia Threadneedle in 2009 as a Senior Fund Manager in the European equity team. She manages the Threadneedle Pan European Fund. Before joining Columbia Threadneedle, Ann worked at Pictet Asset Management, where she managed a number of institutional funds. She has also held senior investment positions at Gartmore and Henderson. Ann holds degrees in Law and Music from the University of Glasgow.
Clément Maclou - CPR use
NameClément Maclou
Job titleThematic equities portfolio manager & fund manager of CPR Silver Age
CompanyCPR Asset Management
TitleLong-term equity investing benefiting from secular trends through thematic approaches, like ageing
ContentThese last decades, significant changes occurred both in the economy and in the financial markets, which were put through challenging phases. In this context, asset management companies have to come up with robust and non-cyclical investment solutions: theme investing, if properly shaped and managed, can meet these two criteria.
In 2009, CPR AM’s Thematic Equity team started to look for a long-term and growth-provider thematic fund: demography, especially population ageing grabbed their attention. CPR Silver Age* (European Thematic Equities Fund) was launched in December 2010.
The question is: how have they evaluated the potential of this theme?
In this workshop, Clément Maclou will begin by presenting ageing from a macroeconomic perspective: statistics back up the fact that population, in Europe and worldwide, is ageing more and more.
Then, he will talk about the strategy around CPR Silver Age, which consists of investing in companies that benefit from ageing population.
*Registered in Switzerland
BiogClément joined the Equity Team of CPR Asset Management in 2007 as AssistantPortfolio 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 withVafa 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 Managementfrom IAE in Aix-en-Provence - France (Institut des Administrationsd’Entreprises), he is graduated from the Business School ESCE (Paris).
Helene Williamson - First State
NameHelene Williamson
Job titleHead of Emerging Market Debt
CompanyFirst State Investments
TitleWhat should we expect from Emerging Markets debt in 2015?
ContentWhat are the themes and drivers for the asset class? Oil prices, China, developed market Central Bank policies, politics and structural reforms are all factors affecting Emerging Markets investment decisions. Helene will address how these macro-economic factors are combined with country-specific views that ultimately translate into investment decisions.
BiogHelene Williamson is the Head of Global Emerging Markets Debt at First State Investments (‘FSI’). In her role, Helene has overall responsibility for the management of all Emerging Markets Debt portfolios at FSI.
Prior to joining FSI in September 2011, Helene worked at F&C Asset Management where she was Head of Emerging Markets Debt for 16 years. In this position, Helene managed F&C’s Emerging Markets Debt SICAV (which received a 5-star rating from Morningstar) from 1997 to August 2011 and built the emerging markets debt team’s successful investment process. Under her leadership, the team’s assets under management increased substantially. Before that Helene worked for Bankers Trust Company in New York in emerging market lending, restructuring and portfolio management. Her last assignment at Bankers Trust was in the role of Senior Trader in emerging markets, based in London.
Helene holds a Licence en Lettres from the University of Lausanne, an MA in International Relations from the University of Pennsylvania and an MBA in Finance from the Wharton Graduate School. Helene is fluent in French, German and Spanish.
David Saunders
NameDavid Saunders
Job titleFounding Managing Director K2 Advisors
CompanyFranklin Templeton Investments
TitleWhy Liquid Alternatives?
ContentDavid Saunders will present K2’s approach to liquid alternative strategies, centered on prudent capital allocation and rigorous risk management. K2 has twenty years’ experience of seeking to generate steady, asymmetric returns by aiming to maximize participation in positive markets while seeking to protect in down markets. David will present liquid alternative strategies that through K2’s sophisticated approach to portfolio construction can be combined in a portfolio to exhibit lower volatility and correlation to broad capital markets.
BiogDavid C. Saunders, Founding Managing Director, graduated from the University of Maryland, College Park, in 1981 with a B.S. degree in Business. He has been involved in the investment and trading of financial instruments since 1983. He has worked at Tucker Anthony & R.L. Day as an equity trader; First Boston Corp. as Vice President on the equity block trading desk; WaterStreet Capital, a hedge fund, as Head Trader; Tiger Management, as Head Trader; WorldSec Securities as President and ABN Amro Inc. as a Senior Managing Director. He co-founded K2 Advisors in 1994. K2 Advisors provides integrated hedge fund product solutions covering multiple strategies to sophisticated institutional and high-net-worth investors. On November 1, 2012, K2 became part of Franklin Templeton Investments through the acquisition of a majority interest in K2’s parent company, K2 Advisors Holdings, L.L.C.
Mr. Saunders serves on the Board of Directors of the Tiger Foundation; the University System of Maryland Foundation, Inc.; the U.S. Ski and Snowboard Team Foundation and The Windham Chapter of the Catskill Mountain Foundation.
Raphael Haselberger - GSAM
NameRaphael Haselberger
Job titleProduct Manager, GSIP
CompanyGoldman Sachs Asset Management
TitleAn Alternative to Traditional Equity Investing
ContentWhilst the equity market rally has the potential to continue, the investment team of the GS Equity Long Short Portfolio believe that potential downside risks have increased significantly. As a solution the GS Global Equity Long Short Portfolio focuses on high conviction investment ideas and active downside management to control overall market exposure by using Long Short Equity and Event Driven strategies. Raphael Haselberger will explain why his team’s low-beta, fundamental and opportunistic investment approach has the potential to generate attractive risk-adjusted returns going forward. This includes the portfolio’s investment philosophy and process and the portfolio’s positioning.
BiogRaphael is the Product Manager for Goldman Sachs Investment Partners and responsible for investor communication, sales and marketing. He joined Goldman Sachs Asset Management in 2006 as a member of the Institutional Business Development team in Frankfurt (Germany). In 2009, he became a member of the Alternative Capital Markets (ACM) team in the Investment Management Division in New York. Prior to joining Goldman Sachs, Raphael studied Business Administration at University of Regensburg (Germany), University of Valparaíso (Chile) and Humboldt-University of Berlin (Germany). He majored in Finance and Banking and received the degree “Diplom-Kaufmann” in 2006. Prior to his studies, Raphael completed a two-year training program with HypoVereinsbank in Munich (Germany). Raphael holds the Chartered Financial Analyst (CFA) designation since 2009.
Rob Lee
NameRobert Lee
Job titlePartner & Director
CompanyLord Abbett
TitleInvestment Opportunity in a World of Policy Divergence
ContentAfter six years of keeping the fed funds target rate near 0%, the U.S. Federal Reserve (the “Fed”) appears to be prepared to finally raise short-term interest rates. At the same time, the European Central Bank (ECB) and other central banks are embarking on quantitative easing (QE) programs to stimulate their economies, pushing yields on many global bonds into negative territory. How will this divergence in monetary policies affect the markets? Please join Rob Lee as he discusses the impact of the Fed “lift off” on short-duration fixed-income markets, how the divergence in monetary policies around the world may affect the U.S. dollar, and investment opportunities in the U.S. and global fixed-income markets in this uncertain environment.
BiogRobert Lee oversees the portfolio management, research, and trading teams for the firm’s taxable fixed income strategies. In addition, Mr. Lee leads the portfolio management team for several fixed income strategies, including the Core, Core Plus, Corporate, Short Duration Credit, and Inflation Focused strategies. He also is a member of the Asset Allocation Investment Committee.
Previously, Mr. Lee led the team on Lord Abbett’s liquid and securitized debt products, including Treasuries, agencies, and mortgage-related instruments. Mr. Lee began his career in the financial services industry in 1991. He joined Lord Abbett in 1997 and was named a Partner in 2002. Prior to joining Lord Abbett, Mr. Lee was a fixed-income Portfolio Manager at ARM Capital Advisors, and worked for Kidder Peabody Asset Management and First Boston Corp.
Mr. Lee earned a BS in economics from The Wharton School, University of Pennsylvania.
Marc Maudhuit - Natixis - H2O
NameMarc Maudhuit
Job titleGlobal Head of Client Portfolio Management, H2O Asset Management
CompanyNatixis Global Asset Management
TitleThe Best of Two Worlds combining top down macro and bottom equity investment style
ContentToday’s highly volatile market environment is characterized by significant trend reversals among major asset classes, by the rapid succession of greed and fear investor moods, and by the upcoming tightening of the Fed’s monetary policy.
The ability to implement, and actively manage, a broad, truly global and well diversified range of mostly relative value strategies is critical to delivering performance.
H2O has been a successful alpha manager on global fixed income and currency markets for over 20 years, adding equity markets to its expertise in 2003.
In early 2011 the team launched H2O MultiEquities, a global equity multi-currency UCITS combining the benefits of a Global Macro top-down strategy with those of a specific bottom-up equity management.
H2O MultiEquities is entrusted to Gonzague Legoff, a portfolio manager with more than 11 years of investment experience in global equity markets, and as many within the H2O team.
Marc Maudhuit will discuss how H2O MultiEquities can give investors an access to the team’s expertise in drawing value from dynamically arbitraging the fund’s asset classes (equities and currencies), markets, sectors, instruments, time horizons, etc.
BiogMarc Maudhuit is a Founding Partner and the Global Head of Client Portfolio Management at H2O Asset Management, a company emphasizing performance, transparency and liquidity. Prior to founding H2O, Mr. Maudhuit headed up the product specialist team of Credit Agricole Asset Management (CAAM – formerly Amundi) London’s Global Fixed-
Income & Currency management team. His earlier experience includes being responsible for the marketing of Indosuez Asset Management fixed-income products, as well as later taking over the marketing support unit of the company. Mr. Maudhuit started his career in 1989 as a marketing officer with Finance Indosuez Techniques (FIT), a subsidiary of Banque
Indosuez, specializing in the management of structured products. Mr. Maudhuit is a graduate of the Ecole des Affaires de Paris (EAP – Paris Business School) and holds a Master of Science in Foreign Service from Georgetown University in Washington D.C.
Christophe Chappuis - Natixis v2
NameChristophe Chappuis
Job titleEquity Portfolio Manager, H2O Asset Management
CompanyNatixis Global Asset Management
TitleThe Best of Two Worlds combining top down macro and bottom equity investment style
ContentToday’s highly volatile market environment is characterized by significant trend reversals among major asset classes, by the rapid succession of greed and fear investor moods, and by the upcoming tightening of the Fed’s monetary policy.
The ability to implement, and actively manage, a broad, truly global and well diversified range of mostly relative value strategies is critical to delivering performance.
H2O has been a successful alpha manager on global fixed income and currency markets for over 20 years, adding equity markets to its expertise in 2003.
In early 2011 the team launched H2O MultiEquities, a global equity multi-currency UCITS combining the benefits of a Global Macro top-down strategy with those of a specific bottom-up equity management.
H2O MultiEquities is entrusted to Gonzague Legoff, a portfolio manager with more than 11 years of investment experience in global equity markets, and as many within the H2O team.
Marc Maudhuit will discuss how H2O MultiEquities can give investors an access to the team’s expertise in drawing value from dynamically arbitraging the fund’s asset classes (equities and currencies), markets, sectors, instruments, time horizons, etc.
BiogChristophe Chappuis started his career in 2005 at CAAM (now Amundi) in London as a Middle Office Assistant. He was appointed Cash Manager in 2006 and then Portfolio Manager within the Absolute Return team in 2010. In 2013, he joined the New York office to implement the global aggregate strategy for US clients. Christophe joined H2O AM LPP in October 2014 as an Equity PM. He holds a MSc in Finance and Corporate Strategy from Napier University (Edinburgh).
Christine Johnson-OMGI
NameChristine Johnson
Job titleHead of Fixed Income
CompanyOld Mutual Global Investors
TitleTotal Return, Attractive Yield: Old Mutual Monthly Income High Yield Bond Fund
ContentYields on offer in the high yield universe are more than tempting. The challenge is to capture the benefits while avoiding the risks of a world in which yields are rising and capital values falling. We believe it can be done. Investors can have the best of both worlds. Higher yielding instruments have some equity-like characteristics, with capital values improving as economic recovery boosts creditworthiness. Through active duration management, including adept use of negative duration, a portfolio can profit even as yields rise.
BiogChristine Johnson joined Old Mutual in September 2010 from Halbis Capital Management (formerly HSBC Asset Management), where she was a senior fixed income fund manager, initially focusing on sterling credit before also managing global portfolios. She moved to Halbis from Investec Asset Management, which she joined as a high yield credit analyst, becoming a high yield fixed income fund manager a year later. She began her asset management career as a credit analyst at Royal & Sun Alliance Investment Management, having previously been a relationship manager at NatWest Bank. Christine has a BA in Economics from Manchester University.
Aziz Unan - RenAsset
NameAziz Unan
Job titlePortfolio Manager
CompanyRenAsset Management
TitleEastern Europe: Where emerging, frontier and developed markets meet!
ContentIt is no surprise that a great chess game is being played in greater eastern Europe as the region sits on more than 60% of proven global energy reserves. How can one be involved and benefit from monetization of the region’s vast underground wealth?
BiogAziz joined RAM in 2012 as part of the team RAM acquired from Griffin Capital. With more than 19 years of investment experience, he is the manager of both RAM’s Eastern Europe Fund as well as RAM’s Ottoman Fund. Since the Ottoman’s launch in January 2006, it has been the best performing regional fund in Emerging Europe / Middle East and North Africa (MENA). Aziz is amply decorated with multiple industry awards and ratings (Morningstar, Sauren, Euro, Euro AM Sontag). Prior to being a fund manager, he was a highly experienced analyst concentrating on emerging market financial stocks. Aziz holds a BA in Business Administration from the Anglo‐American University in Prague and currently is based in Istanbul.
Alistair Way- SLI
NameAlistair Way
Job titleSenior Portfolio Manager, Global Emerging Markets
CompanyStandard Life Investments
TitleGEM Equity – Unleashing the potential
ContentAlistair Way, senior Portfolio Manager in Standard Life Investments Global Emerging Markets team, will use real stock examples to illustrate the potential of an unconstrained, bottom-up stock selection approach in generating impactful, consistent portfolio alpha within a risk controlled framework.
BiogWith over 20 years’ industry experience, Alistair Way is a senior Portfolio Manager in Standard Life Investments’ Global Emerging Markets team. After graduating from the University of Cambridge with a BA in Economics, Alistair started his investment career in 1993 at Baillie Gifford, initially managing the European smaller companies funds before moving to Japanese equities and Japanese smaller companies. He joined Standard Life Investments in May 2007, focusing initially on Japanese equities before extending coverage to Asia and Global Emerging Markets.
Stephen Snowden - Kames
NameStephen Snowden
Job titleInvestment Manager
CompanyKames Capital
TitleBonds: Has the world gone crazy?
ContentWe might not want them or have predicted them, but we have very low bond yields. Regrettably the evidence suggests that they are here to stay. The award winning Stephen Snowden will make the case for why he thinks bonds are expensive, but not in a bubble. There are opportunities for managers who are nimble and active in their management.
BiogStephen is an investment manager in the fixed income team who specialises in investment grade credit and co-manages two investment grade bond funds and an absolute return bond fund. He re-joined us in 2011 from Old Mutual Asset Managers where he managed the Corporate Bond Fund, and has 20 years’ industry experience. Stephen studied Finance at Queen’s University, Belfast, and is an associate member of the CFA Society of the UK.
Ruairidh Stewart - Legg Mason
NameRuairidh Stewart
Job titleInvestment director, head of global resources
CompanyLegg Mason Global Asset Management
Title
Content
BiogRuairidh joined Martin Currie’s resources team in 2007. He is head of global resources and manages our Martin Currie GF – Global Resources Fund. He previously headed European energy research at Simmons & Company in London and has worked as a senior analyst with McKinsey’s petroleum practice. Ruairidh began his career as an analyst with OneOffshore in Aberdeen.