Discretionary Dialogue 2017 Hong Kong

Date:
September 28, 2017
Time:
8:00am – 1:00pm
Venue:
The American Club – Town Club, Hong Kong

Overview

Join senior discretionary portfolio managers to discuss the portfolio allocations and product mixes of Asia’s private banks.

Agenda

8:30am – 9:00am Registration & breakfast
9:00am – 9:05am Opening Comments
9:05am – 9:45am Panel Discussion 1 | Sub-advisory in Asia: Pioneering the next movement?
Europe’s mature discretionary portfolio management (DPM) market has led to increasing adoption of sub-advisory to further enhance returns by sourcing truly best-in-breed managers at ever greater levels of granularity. By contrast, Asia is still in its nascent stages. In addition to market challenges they face within asset allocation strategies, there are operational challenges within the bank that could limit the quality and outcome of DPM solutions, such as ongoing rationalisation of fund platforms, resulting in access to fewer asset managers, or a concurrently existing fund advisory business, which have yet to face a retrocession bans in the region.

What is the potential for sub-advisory mandates in Asia? Given the kinds of assets popularly invested in by HNWIs in the region, how much value can sub-advisory mandates add to portfolios? How can sub-advisory mandates bypass certain operational challenges faced by DPM businesses in Asia, such as mis-aligned fund selection teams or limited access to managers?

Moderator:
Stuart Dunbar, Partner & Director, Financial Institutions, Baillie Gifford

Conversation catalysts:
Grizelda Lee, Head of Discretionary Portfolio Management, Asia, Indosuez Wealth Management
James Fava, Head of Product Development & Management – Funds, APAC, UBS Wealth Management
Steven Fong, Head of Portfolio Solutions, Credit Suisse

9:45am – 10:25am Panel Discussion 2 | ESG: Legitimate strategy or all hype?
The broader asset management industry continues to preach the benefits of investing based on environmental, social and governance (ESG) standards for both the purposes of ethics as well as strong risk-adjusted returns in the long-term. Meanwhile, the concept is gaining limited traction amongst Asian HNWIs, many of whom ironically made their money as major polluters. What say the private banks?

Moderator:
Sebastian Enberg, Editor, Asian Private Banker

Conversation catalysts:
Arjan De Boer, Head of Markets and Investment Solutions, Asia, Indosuez Wealth Management
Garth Bregman, Head of Portfolio Management, Asia, BNP Paribas
Martin Todd, Co-manager, Hermes European Alpha Hermes Investment Management
Rocky Cheung, Head of Investment Product and Advisory, Wealth Management, DBS Private Bank

10:25am – 11:05am Panel Discussion 3 | Investment Solutions for a New Decade
After the hard lessons of the 2008 global financial crisis were learnt, many institutional investors are under pressure from their stakeholders to look for better ways of limiting the risks that they face — meaning that managed volatility strategies becoming more important. As such a way of protecting against volatility is evolving – managed volatility strategies. This strategy aims to limit portfolio volatility by combining different strategies such as smart beta, traditional active management and factor investing together in order to substantially lower the effect of markets drawdowns. In what areas can discretionary managers use this diversified approach to enhance their portfolio?

Moderator:
Richard Otsuki, Deputy Editor & Head of IPS Coverage, Asian Private Banker

Conversation catalysts:
Garth Bregman, Head of Portfolio Management, Asia, BNP Paribas
Jean-Louis Nakamura, Chief Investment Officer, Asia Pacific, Lombard Odier Group
Nixon Mak, Managing Director, Solutions Strategist, Asia Pacific, Invesco
Steven Fong, Head of Portfolio Solutions, Credit Suisse

11:05am – 11:25am Networking Coffee
11:25am – 12:05pm Panel Discussion 4 | Passives in DPM: What remains for active managers
A growing focus on DPM business in Asia will naturally lead to intensified focus on portfolios’ TERs (total expense ratio). Concurrently, the broader market of active managers continues to struggle to outperform their respective benchmarks leading to an ETF market that has swollen to US$3 trillion. Private banks share their experience with converting various active exposures into passive ones, as well as other traditionally active allocations that could a face similar fate.

Moderator:
Richard Otsuki, Deputy Editor & Head of IPS Coverage, Asian Private Banker

Conversation catalysts:
Ernest Chan, Head of Asia Investment Management Services, Morgan Stanley Private Wealth Management
Jacky Tang, Head of Portfolio Management Group; Co-Head of Investment Strategy Group, Goldman Sachs
Jean-Louis Nakamura, Chief Investment Officer, Asia Pacific, Lombard Odier Group
Yan Pu, Head of Portfolio Review, Asia, Vanguard Investments Hong Kong Limited
Yvonne Leung, Executive Director and Senior Portfolio Specialist, J.P. Morgan Private Bank

12:05pm – 12:45pm Panel Discussion 5 | Sourcing low-cost income in Asia
Asia’s search for yield shows no sign of slowing down amid the onset of monetary tightening by global banks. Concurrently, a market-wide shift towards performance and fee scrutiny has led to a wholesale active-to-passive conversion of a colossal amount of assets. Whilst there is little to debate about mature and efficient equity markets, the industry remains mixed about achieving fixed income returns through passive vehicles. Wherein does the industry stand about the currently available instruments and the methodologies of benchmark construction governing them? What unconverted markets pose the greatest potential for a passive conversion? Could regulations drive change?

Presenter:
Mark Raes, Head of Product Canada, BMO Global Asset Management

12:45pm – 1:30pm Networking Luncheon


2017 Partners

 

DPM Event Photos

 

Inquiries

For further information, please contact: koye.s@asianprivatebanker.com
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