Discretionary Dialogue 2018 Hong Kong
This event is free to attend and qualifies for CPT/CPD points.
2017 Discretionary Dialogue Photos
|8:30am – 9:00am||Registration & Breakfast|
|9:00am – 9:05am||Opening Comments|
|9:05am – 9:45am||Panel Discussion 1 | Thematic wrappers in Asia
Growing macro uncertainty, driven by rising rates and political tensions, have softened investor risk appetite. But one area where long-only sentiment remains strong is thematic investments where long-term structural narratives have captivated clients. From a plethora of emerging technologies to a wholesale shift in global demographics, private banks are capitalising on demand for investing in the future. DPM has not been unaffected by the thematic boom in Asia and private banks have developed a range of mandates focused on expressing such views via active management.What are the new developments from leading private banks’ discretionary offerings, in terms of capabilities or mandates to implement thematic investment ideas? What specific themes have resonated particularly well with Asian clients, and why? How are private banks implementing such views, given a relatively limited product universe compared to traditional long-only exposures? How are structured products playing a role in this space?
|9:45am – 10:25am||Panel Discussion 2 | Growing diversity of passives in DPM
ETF growth in Asia’s discretionary mandates persists driven by the absolute growth of DPM assets but also by the growing diversity of ETFs, which are being used for implementation beyond the developed markets. From a range of smart beta exposures to fixed income ETFs, Asia’s discretionary managers are exploring new passive instruments for more cost-effective access or unconventional exposures.What strategies have private banks and wealth managers used for their DPM portfolios? Of which what are the switches from active funds to ETFs, and why? What new ETF exposures would they like to see for better portfolio implementation? What are the innovations in ETF and rule-based solutions that are being explored in the DPM and wealth space (including smart beta, quant and thematic strategies)?
|10:25am – 10:45am||Networking Coffee|
|10:45am – 11:25am||Panel Discussion 3 | Factor-based DPM: Breaking correlations in 2018
The long-held belief about asset allocation and portfolio construction based on correlations between equities and bonds was once again challenged in 2018 by a myriad of risks which triggered bouts of volatility. Meanwhile, factor investing as a foundational framework for asset allocation is gaining prominence, particularly amongst institutional investors who are recognising the risks of solely relying on conventions to manage portfolios. Although the approach is far from achieving mainstream status amongst private clients in Asia, there are meaningful pockets of success stories from private banks and asset managers to garner interest and attract flows, with greater potential should markets continue to break historical correlations.How are private banks adopting factor investing practices within their platform, be it DPM or otherwise (e.g. single security selection, fund due diligence, general risk management)? What discretionary mandates are available in Asia, which are based on this framework, and how are portfolios built? How have private clients received this type of solution across various segments (e.g. country, family office/EAM, HNW/UHNW)? What is the potential for private banks and asset managers in Asia moving forward?
|11:25am – 11:40am||Closing Comments|
|11:40am – 1:00pm||Networking Luncheon|