Investment Advisory Summit, Hong Kong 2011
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|8:00am – 8:55am||Registration and Coffee|
|8:55am – 9:00am||Welcome and opening comments
Asian Private Banker
|9:00am – 9:45am||Session 1 | Opening keynote speech
|9:45am – 10:15am||Session 2 | Investing after the financial crisis: Improving risk management and asset allocation|
The financial crisis brought about many challenges for investors as traditional investment approaches delivered poor results in the face of market volatility. We reexamine two foundations of modern portfolio management theory: risk management and asset allocation. How can we improve risk management? How can we make portfolio asset allocation more robust?
Dr. Harold Y Kim
|10:15am – 10:40am||Coffee break|
|10:40am – 11:15am||Session 3 | Private banking in Asia following the global financial crisis: the regulatory response to cross-border private banking targeting emerging Asian wealth|
The private banking industry is rapidly increasing headcount and other resources in Asia to target the emerging wealth in the region. The aftermath of the financial crisis has accelerated this process given stronger growth and availability of capital in Asia. Most private banks are using Singapore and/or Hong Kong as hubs to service clients based in surrounding countries such as China, Taiwan and Indonesia. But there are regulatory headwinds coming from Europe and the US as well as local issues (notably in Hong Kong and Singapore), and there is growing resistance to the fly-in/fly-out model from jurisdictions such as Taiwan. We shall look to provide a weather report and route map for this rapidly changing regulatory environment.
|11:15am – 11:50am||Session 4 | A macroeconomic update on Asia ex-Japan: The opportunities and challenges for 2011
2011 continues to highlight the contradictions between emerging and developed markets. As Asia ex-Japan experiences inflationary pressures across the region, the result is a tightening of monetary measures while the US-led recovery of the developed markets continues to enjoy fairly loose conditions. Which sectors should investors target in Asia ex-Japan in the short term to capitalize on such disparity? What are the key investment themes to examine across the region for 2011? How long do we expect these contradictions to last?
|11:50am – 12:35pm||Session 5 | The Role of Private Banks: Wealth Manager or Broker?
The investment and advisory landscape has undergone significant changes in recent years, particularly in Asia. The traditional European model of private banks as long-term wealth managers has been replaced in Asia to some extent by a brokerage-oriented model focused on trading activity. Is this a fair assessment of the current private bank market in Asia? Have we become too focused on short-term trading activity? How do we reorient the focus of private banks back towards long-term wealth management?
|12:35pm – 1:50pm||Luncheon|
|1:50pm – 2:30pm||Session 6 | ETFs: challenges and opportunities facing private banks in Asia
As the growth in the ETF market in Asia continues, private banking clients are increasingly aware of the flexibility of these products. They allow investors to go long or short on a variety of asset classes ranging from commodities, bonds, FX to the more common equities and index funds. There are also several tax advantages of using ETFs for the Asian investor. But Asian private banks are still grappling with core issues surrounding their role as distributors of ETFs and, indeed, how the product should be sold. While ETFs play an important role in private bank discretionary management, their popularity among investment advisory teams and RMs is still questionable. The panel, comprising issuer, private bank advisors and a legal specialist examine these issues.
Dr Matthias Feldmann
|2:35pm – 3:20pm||Session 7 | Commodities: nuggets or nuts?
Commodities are back with a vengeance. Price hikes at the start of 2011 gave us a taste of déjà-vu; gold was rocketing, oil shot above US$100 a barrel, and many Cassandras predicted future catastrophe as a result of the surge in costs of food staples. With inflation also a constant companion, how can investors take advantage of such heady commodity markets? Indeed, is it too late to invest in commodities? And given an increasing politically correct global environment, does investor conscience affect food prices?
|3:20pm – 3:55pm||Coffee break|
|3:55pm – 4:40pm||Session 8 | Blinded by the RMB spotlight? Why private clients may miss a wider Asia Fixed Income opportunity
With the CNH bond market hitting the headlines in Hong Kong, the investment searchlight has been firmly focused on the internationalisation of the RMB. However, while all eyes are trained on the fortunes of China’s currency, many may be missing a bigger Asia Fixed Income story and the returns that are being generated through other Asian currencies, credits and interest rate opportunities.
|4:40pm – 4:45pm||Round Up
|5:00pm||Official Cocktail Reception|
Head of Portfolio Advisory Services
Head of Advisory, Asia Private Banking
Credit Agricole Suisse
Regional Head of Products & Solutions Asia
ABN AMRO Private Banking
Managing Director, Head of Advisory Asia
BNP Paribas Wealth Management
Assistant General Manager, Head of Private Banking and Trust Services
Hang Seng Bank
Deputy Managing Director, Wealth Management Service
BSI Investment Advisors
Head of Investment Products and Advisory Department
Bank of East Asia
Director, Head of Fund Distribution, Asia Pacific
Private Wealth Management, Deutsche Bank
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