Funds Selection Nexus, Hong Kong 2016

Funds Selection Nexus, Hong Kong 2016

Date:
October 04, 2016
Time:
8:00am – 12:50pm
Venue:
JW Marriott Hotel, Hong Kong

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Overview

Asian Private Banker, the leading authority on the private banking industry in Asia, hosts the most powerful and effective gathering of fund selector and due diligence leaders in Asia each October.

What makes an Asian Private Banker Funds Selection Nexus (FSN) function different?

  • Seniority of industry peers who participate
  • Focus and exclusivity as only private bank and IAM selectors are invited (no institutional, no insurance, no retail, no other sectors)
  • Quality of discussions led by APBs best-in-class editorial team
  • Relevant and restricted sell-side engagement in the morning’s agenda
  • First and still the best (APB hosted the first selector driven function in Asia on 21 November 2012)
  •  
    Once a year Asian Private Banker gathers together the key due diligence and fund selector leaders from each private bank, under our invitation, to examine and discuss within and among industry peers the ever changing demands of Asian client, the evolving product shelves and the volatile market conditions.

    PHOTOS FROM THE EVENT

    Agenda

    8:00am – 8:55am Registration and Coffee
    8:55am – 9:00am Welcome & Opening Comments
    Sebastian Enberg, Editor, Asian Private Banker
    9:05am – 9:45am Opening Panel Discussion

    EquitiesHelping Asian HNWIs take a dip
    According to industry research, a 2004 portfolio with a 85-15 breakdown between fixed income and equities, respectively, could achieve 4% annual returns. Today, a portfolio would need to allocate up to 50% in equities to generate similar returns but with volatility doubled. Yet excessive concentration in fixed income assets, especially leveraged, is by no means a sustainable way to help clients generate diversified returns. How is your private bank using fund solutions to stimulate risk-averse investors to add to their equity allocations?

    Moderator:
    Sebastian Enberg, Editor, Asian Private Banker

    Conversation Catalysts:
    Jaye Chiu, Head of Investment, EFG Hong Kong
    Roger Bacon, Head of Managed Investments, Asia, Citi Private Bank
    Stefan Lecher, Head Client Portfolio Management APAC and Co-Head Content Management APAC, Investment Products and Services, UBS Wealth Management

    9:50am – 10:30am First Workshop Rotation
    10:35 – 11:15pm Second Workshop Rotation
    11:20 – 12:00pm Third Workshop Rotation
    12:05 – 12:45pm Closing Panel Discussion

    Fixed incomeLong-only only?
    The near-term prospect of US monetary tightening seems to be diminishing day-by-day with every bump in the road. At the same time, the demand for yield has not subsided, especially for Asian investors who continue to pile funds into fixed income. Solutions positioned for a rising rate environment may require a rethink. What solutions are most appealing in an environment where monetary policies are running out of steam but where the search for income remains insatiable?

    Moderator:
    Richard Otsuki, Senior Reporter, Asian Private Banker

    Conversation Catalysts:
    Aman Dhingra, Head of Funds Solution, Asia, Union Bancaire Privée
    Charis Wong, Vice President, Head of Fund and ETFs Hong Kong, Private Banking Asia Pacific, Credit Suisse
    Ernest Chan, Head of Investment Management Services Asia, Private Wealth Management, Morgan Stanley

    12:50 – 2:00pm Networking Luncheon & Dataset Conclusions

    Workshop Topics

    Enhancing Return Opportunities in Asian High Yield
    With low and even negative interest rates in many developed economies, the search for yield will remain a key investment theme in 2016 and into 2017. Increasingly, investors need to look beyond their comfort zone of traditional fixed income asset classes in order to find yield. Asian high yield is one asset class that still offers attractive yielding opportunities. While higher yield does entail higher risk, we believe this can be managed. We combined essential locally-based research with an active portfolio management approach that is fully cognizant of both the risks and opportunities in this asset class.

    Looking ahead, we remain constructive on Asian credit. With dovish Asian central banks, low/negative yields expected to continue in developed markets and a likely pull-back in Fed tightening expectations, we believe technicals will remain supportive of the asset class.

    Conversation Catalyst:
    David Tan, Chief Investment Officer, Fixed Income, Asia Pacific, Allianz Global Investors


    Japan Equities – a fresh look at an established if underappreciated asset class
    With Abenomics now in its fourth year, and following unprecedented easing from the Bank of Japan, the domestic economy in Japan still seems to lack any sense of real growth.

    Despite this economic backdrop, the First State Stewart Asia team believe that high quality companies should continue to diverge from the rest, having already learnt how best to survive the low-growth economic conditions over the past 20 years. By applying the team’s bottom-up stock selection process, we have uncovered a number of interesting companies to invest in for the longer term. Michael Stapleton (Managing Partner) and Sophia Li (Portfolio Manager) will outline our approach and strategy for investing in Japan . We will also highlight some of our long-term investment themes that illustrate our investment philosophy and how it is of benefit to our clients.

    Conversation Catalysts:
    Michael Stapleton, Managing Partner, First State Stewart Asia, First State Investments
    Sophia Li, Portfolio Manager, First State Stewart Asia, First State Investments


    Asia ex Japan Equity: contrarian by nature
    Alpha can best be generated by bottom-up analysis: in particular, by investing in companies that are attractively priced relative to their quality. For us, risk isn’t volatility or tracking error. It is the risk of permanent capital loss. Our biggest positions are in companies we believe offer an asymmetric payoff between risk and reward.

    We screen extensively to identify stocks priced attractively relative to their quality. Price-to-book for price, and the five-year average return-on-assets as a proxy for quality, are particularly important elements of this process as we seek to identify a stock’s divergence from its long-term fair value. We scrutinise company statements after this initial hurdle has been cleared, and only then do we analyse the company in depth and speak with management.

    Here, we will outline this process in more detail, discussing our reasoning for evaluating companies in this way and illustrating our investment process with case studies and examples.

    Conversation Catalyst:
    Sandy Pei, Asia ex Japan Deputy Portfolio Manager, Hermes Investment Management
     

    Advisory Council

    • Belle Liang, Executive Director, Head of Investment Advisory, Hang Seng
    • Charis Wong, Vice President, Funds and ETFs, Private Banking and Wealth Management, Credit Suisse
    • Eddie Lee, Regional Head of Investment Products, Asia, ABN AMRO
    • Ernest Chan, Managing Director and Head of Investment Management Services, Asia, Morgan Stanley PWM
    • Jaye Chiu, Head of Investments, EFG
    • Johann Santer, Managing Director, Senior Advisor, Julius Baer
    • Maggie Tsui, Managing Director, Deputy Head of Investment Services, Asia, BNP Paribas Wealth Management
    • Michael Christo, Managing Director, Head of Investments, Hong Kong, UBS Wealth Management
    • Rocky Cheung, Executive Director, Head of Investment Products and Advisory, HK, Wealth Management, DBS
    • Roger Bacon, Head of Managed Investments and Advisory, Asia Pacific ex-Japan, Citi
    • Vincent Ng, Executive Director, Head of Investment Advisory, Hong Kong, Wealth Management, Asia ex-Japan, Nomura

    Partners

     

    Inquiries

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