Funds Selection Nexus, Singapore 2016
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What makes an Asian Private Banker Funds Selection Nexus (FSN) function different?
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 PREVIOUS FSN IN SINGAPORE
|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
Equities – Helping Asian HNWIs take a dip
|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 income – Long-only only?
|12:50 – 2:00pm||Networking Luncheon & Dataset Conclusions|
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.
David Tan, Chief Investment Officer, Fixed Income, Asia Pacific, Allianz Global Investors
Indian Equities – our history and experience
In a world where economic and corporate growth is hard to find, India stands out as a place where investors can be cautiously positive. With a reform-minded government, a well-regarded central bank and a positive GDP growth outlook, it is no surprise that the Indian equity market has performed well and remains richly valued despite a gradual downward recalibration of earnings expectations.
Against this backdrop, Michael Stapleton (Managing Partner) and Naren Gorthy (Senior Investment Analyst) will discuss our preference for investing in companies with sound governance structures. Given our long history in investing in India, we will also share our experience of how this has shaped our investment universe as well as confirm the benefits of taking a long-term view on behalf of our clients.
Michael Stapleton, Managing Partner, First State Stewart Asia, First State Investments
Naren Gorthy, Senior Investment Analyst, 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.
Sandy Pei, Asia ex Japan Deputy Portfolio Manager, Hermes Investment Management
- Alexander Kwan, Executive Director, Senior Investment Advisor, Managed Solutions, LGT
- Dany Dupasquier, Managing Director, Head of Mutual Funds and Hedge Funds, Group Wealth Management, Standard Chartered
- Hsiao Ching Tang, Managing Director Head, Advisory & Sales, Managed Investments, Bank of Singapore
- Iris Kao, Head of Funds, CTCB Private Banking Services
- Jansen Phee, Head, Content Management, APAC, Investment Management, UBS
- John Cappetta, Head, Managed Solutions Advisory, Julius Baer
- Joyce Ngan, Director, Global Funds Solution, APAC, Deutsche Bank
- Karen Tan, Director, Head of Global Products & Solutions – Fund Advisory, Deutsche Bank Wealth Management
- Kenneth Yeo, Managing Director, Head of Investment Services and Product Solutions, South East Asia, HSBC
- Lina Lim, Executive Director, J.P. Morgan Chase
- Rodolphe Larqué, Director, Head of Funds and ETFs Asia Pacific, Products and Solutions, Asia Pacific, Credit Suisse