Investment Advisory Summit, Hong Kong 2018

Investment Advisory Summit, Hong Kong 2018

May 15, 2018
8:30am – 2:30pm
Island Shangri-La Hotel, Hong Kong


Beginning in 2010, the Investment Advisory Summits (IAS) are the largest and most important gatherings of C-suite private bankers, IAM/EAMs, and wealth managers/SFOs. Now in their 9th year, this year’s Summits, which will attract over 800 senior leaders from the Asian wealth management industry, will be opened by the following confirmed CEOs in Hong Kong:

Albert Chiu
Chief Executive Asia Pacific
EFG Bank

Amy Lo
Chairman and Head UBS Wealth Management Greater China, Country Head and Chief Executive, UBS Hong Kong Branch, Group Managing Director

Harry Tsai
Group COO
Noah Holdings Limited

Pierre Vrielinck
Chief Executive Officer Wealth Management, Asia Pacific
BNP Paribas

Vincent Chui
Chief Executive
Morgan Stanley Asia International Limited

Event Photos


8:15am – 9:00am Registration and Breakfast – Foyer, Ballroom
9:00am – 9:10am Welcome Remarks – Ballroom A&B
9:10am – 9:55am

CEOs in Debate | Future-proofing Asian private banking: how are today’s leaders transforming their businesses to capture tomorrow’s opportunities? – Ballroom A&B

Brute force growth can only take Asia’s private banking industry so far. So while it is heartening from a business perspective that Asia’s Top 20 private banks raised their collective AUM by some 30% percent in 2017, leadership (if it hasn’t already) must ask searching questions about what it means as a wealth manager to add value to clients. And this means proactively engaging with disruptive forces and, ultimately, evolving business models to address present and future exigencies.

How are private banking leaders harnessing disruptive forces in technology, regulation and competition and what tangible steps are being taken today to ensure future business sustainability and growth? How are these forces changing firms’ philosophies towards wealth management and their approach to measuring business performance and client satisfaction?
What can be learned from ‘non-traditional’ wealth management players that are rapidly becoming more sophisticated both in terms of asset allocation and their ability to leverage vast client data pools?

Sebastian Enberg, Editor, Asian Private Banker

Conversation catalysts:
Albert Chiu, Chief Executive Asia Pacific, EFG Bank
Amy Lo, Chairman and Head UBS Wealth Management Greater China, Country Head and Chief Executive, UBS Hong Kong Branch, Group Managing Director, UBS
Harry Tsai, Group COO, Noah Holdings Limited
Pierre Vrielinck, Chief Executive Officer Wealth Management, Asia Pacific, BNP Paribas
Vincent Chui, Chief Executive, Morgan Stanley Asia International Limited

9:55am – 10:35am

Industry Exchange of View | Sustainable Mandate Growth in Asia – Ballroom A&B

The evolution of Asia’s private banking industry focus from transactional to fee-based activities, especially into mandates, is undoubtedly imminent.

Unlike its successful European counterparts, demand for higher risk-adjusted returns, the existence of retrocession fees and stronger desire to retain control, continue to act as headwinds to grow fee-based assets, at a rate that outpaces private banks’ robust AUM growth and regional wealth creation.

Private banks are already making material headway, growing their discretionary portfolio management (DPM) assets, primarily in the form of diversified multi-asset strategies. But, by multiple accounts, penetration rates still climb incrementally and DPM asset growth continues to be primarily driven by strong net new assets (NNA) rather than continuous top-ups from existing clients. In turn, private banks are actively exploring new avenues of growth, including seeking out active advisory mandates to feed the regional HNWI penchant for active trading, or innovative DPM solutions that target specific client needs instead of just matching risk profiles.

What is the state of DPM growth in Asia? How are banks differentiating from one another, especially in terms of global multi-asset strategies? How are they seeking to innovate their DPM offerings to boost growth from Asian HNWIs? What are the ongoing developments in active advisory mandates in Asia? How are clients receiving this kind of offering?

Join Asia’s private banking industry leaders as they discuss and share their views about the state of mandate businesses in Asia, its potential long-term prospect and how it will differ from the European story.

Richard Otsuki, Deputy Editor & Head of Investment Coverage, Asian Private Banker

Conversation catalysts:
Angel Wu, Head of Product Management Group, Hong Kong, Bank of Singapore
Arjan De Boer, Head of Markets, Investments & Structuring, Asia, Indosuez Wealth Management
Jean-Paul Churchouse, Managing Director, Head of the Markets Solutions Group and Alternative Capital Markets, Private Wealth Management, Asia, Goldman Sachs
Mark Tinker, Head of Framlington Equities Asia, AXA Investment Managers
Nick Ring, Global Head of Distribution, Jupiter Asset Management
Richard Mak, Head of Advisory, Asia, Pictet Wealth Management

10:35am – 11:05am Networking Coffee 
11:05am – 11:35am Workshop Sessions (4 Workshops)

  • The Evolving Economy: A fresh approach to equity investing – AXA Investment Managers
    – Ballroom A & B
  • Navigating a rising rate environment – BNY Mellon
    – Ballroom C
  • European equities – seeking alpha, mitigating drawdowns – Jupiter Asset Management
    – Taishan Room
  • Is smart beta relevant for China A-shares investing? – Premia Partners
    – Tianshan & Lushan Room
11:35am – 12:05pm Workshop Sessions (3 Workshops)

  • Not Just a Bounce: The case for EM multi-asset investing – Goldman Sachs Asset Management
    – Ballroom A & B
  • Unconstrained global fixed income investing – Legg Mason Global Asset Management
    – Ballroom C
  • Realities, myths and why go global – Capital Group
    – Taishan Room
12:05pm – 12:35pm Workshop Sessions (3 Workshops)

  • The New China: Where are the opportunities onshore and offshore and how to access them?
    – Fidelity International – Ballroom A & B
  • The Bank of The Future: The ABCs (AI, Big Tech and Core Banking & Cloud) of digital disruption in finance – Citi – Ballroom C
  • The rise and rise of sustainable bonds, what it means for private wealth in Asia? – BNP Paribas
    – Taishan Room
12:35pm – 1:20pm

CIOs in Debate | A longer but bumpier rally: Where will the cracks emerge? – Ballroom A&B

Synchronised global growth, judiciously mindful central bankers and moderated geopolitical risks continue drive equity prices higher. US is expected to benefit from tax reform and deregulation. Despite a slight slowdown in China, quality growth from a higher economic base could drive outperformance. Emerging markets in Asia are in a better position than ever to withstand shocks across local assets from the ongoing rate hike cycle. Yet, although private banks remain optimistic about a continued rally, few believe the ride will be as smooth as 2017’s when volatility registered record lows.

What are private banks’ top global/Asia/sector equity picks? What factors could trigger a renewed bout of volatility? Which markets are most vulnerable to volatility or correction risk? What are the potential conditions required to keep volatility at historically low, if not record low, levels? What are private banks advising clients to do to protect portfolios from rising volatility? How can HNWIs take advantage of rising volatility? What are some equity tail risks? In addition to equities, could this be the year of hedge funds (or liquid alternatives)?

Richard Otsuki, Deputy Editor & Head of Investment Coverage, Asian Private Banker

Conversation catalysts:
Adrian Zuercher, Managing Director, Head Asset Allocation, CIO APAC, UBS Wealth Management
Fan Cheuk Wan, Managing Director, Head of Investment Strategy and Advisory, Asia, HSBC Private Banking
Frank Lee, Senior Investment Strategist, CIO Office, North Asia, Wealth Management, DBS Bank
John Woods, Managing Director, Chief Investment Officer Asia Pacific, Investment Strategy, Credit Suisse
William Ma, Co-Chief Investment Officer, Noah Holdings (Hong Kong) Limited

1:20pm – 2:30pm Networking Champagne Luncheon

*more details to be announced soon

Workshop Details

The Evolving Economy: A fresh approach to equity investing – AXA Investment Managers

The way that companies do business has changed dramatically over the last 20 years, but many investors’ approaches to equities have remained the same.

Nowadays, companies are increasingly global and multi-sector, which means that investors could be missing out on potentially higher equity returns by continuing to base their equity allocation decisions purely on traditional geographic or sector approaches. AXA Investment Managers identified five key trends with potentially radical impacts on how investors access long-term growth, which we call the Evolving Economy: ageing and lifestyle, the connected consumer, automation, clean tech, and transitioning societies. While these structural themes are not new, we believe we’re still in the relatively early stages to see their potential.

What does the Evolving Economy mean for investors?
Companies will continue to change over the coming decades. Evolving Economy is about identifying the best of these long-term equity opportunities, regardless of how companies are defined geographically or from a sector perspective.

Join AXA Investment Managers to understand about these five multi-decade growth themes.

Workshop Host:
Mark Tinker, Head of Framlington Equities Asia, AXA Investment Managers

European equities – seeking alpha, mitigating drawdowns – Jupiter Asset Management

Europe is one of the largest, most liquid markets in the world, with listed companies that can drive growth under a variety of economic conditions. However, investors today may be concerned with high asset valuations around the world and increasing market volatility. Most would still like to participate in value-creating companies but also be prepared for market corrections. Harnessing our expertise in European equities, we bring to you a unique portfolio that aims to provide strong risk-adjusted returns through the ups and downs of a market cycle. Our European equity long/short strategy combines fundamental and event-driven analysis for alpha generation, along with an actively managed options strategy for downside protection. Portfolio Manager Mike Buhl-Nielsen will be sharing on Jupiter’s highly differentiated investment “edges” for this award-winning strategy.

Workshop Host:
Mike Buhl-Nielsen, Fund Manager, Absolute Return, Jupiter Asset Management

Navigating a rising rate environment – BNY Mellon

A recent fear for high yield investors has been the prospect of normalising interest rate policy in developed markets – historically low interest rates have made the high yield market more sensitive to interest rate moves and effectively managing this risk will be important.

The rise in duration of European indices leaves passive investors with a greater exposure to interest rate risk, just as yields are starting to rise. In this environment, we believe investors need to have the flexibility to actively manage duration and extension risk in high yield.

It is also important for investors to take a global approach. If growth continues to be strong and interest rate rises gradual, then this should minimise market disruption, keep default rates low and support corporate earnings and credit ratings. The ability to flexibly allocate between regions allows investors to take advantage of the more advanced repricing of US high yield to reflect extension risks, and to pursue strategies which avoid the low coupon, more interest rate sensitive issues in Europe.

Workshop Host:
Uli Gerhard, Senior Portfolio Manager – High Yield, BNY Mellon

Is smart beta relevant for China A-shares investing? – Premia Partners

Smart beta strategies have shown significant growth globally, yet the adoption of smart beta in Asia had lagged because of many reasons.

How relevant is smart beta to China A-shares – the fast growing onshore market of world’s 2nd largest economy? Premia Partners has launched the world’s first two multi-factor smart beta China A-shares ETF last year. At this workshop, we will discuss the application of smart beta and factor investing strategies in China A-shares, how it is relevant for EM and global managers seeking access tools for portfolio completion, and how asset owners can utilize different smart beta strategies for China A allocation based on their views.

Workshop Host:
David Lai, Partner & Co-CIO, Premia Partners

Not Just a Bounce: The case for EM multi-asset investing – Goldman Sachs Asset Management

With increasing youth populations, rapid economic growth and a rising middle class, emerging markets (EM) hold considerable potential for investment opportunities. However, given the strong market performance over the last two years, the prospect of rising interest rates and potential for increased protectionist trade policies, investors are naturally asking themselves if now is a good time to invest?

Join the GSAM workshop to explore EM through a multi-asset lens; looking at investment techniques for allocating across the spectrum of EM asset classes, as well as sharing our views on the most attractive opportunities for generating capital growth and income.

Workshop Host:
Shoqat Bunglawala, Managing Director; Head of Global Portfolio Solutions Group, EMEA and Asia Pacific, Goldman Sachs Asset Management

Unconstrained global fixed income investing – Legg Mason Global Asset Management

There is no shortage of uncertainty in today’s fixed income markets given concerns about rising interest rates, low yields, tight spreads and policy uncertainty. These factors have resulted in a heightened risk of capital loss for traditional index-oriented fixed income strategies and the benchmarks they follow. We believe that unconstrained global fixed income strategies, with their wider opportunity set and flexible guidelines, could be a good solution in this environment. While this added flexibility gives managers the potential to outperform, it also requires a comprehensive understanding of macroeconomic conditions and the experience managing flexible global fixed income strategies across multiple market cycles. In this workshop, Brandywine Global, who has been managing index-agnostic global fixed income portfolios since 1992, explains how an unconstrained global fixed income strategy can generate absolute returns over market cycles by identifying opportunities through country, currency, duration, and sector management strategies.

Workshop Host:
Richard Lawrence, Senior Vice President, Portfolio Management, Brandywine Global Investment Management, an affiliate of Legg Mason

Realities, myths and why go global – Capital Group

The combination of the recent, rapid rise in interest rates on US government bonds and higher commodity prices is increasing inflation fears and with the potential for building geopolitical tension, volatility is likely to increase further from prevailing low levels; this unprecedented environment brings growing potential for policy missteps and short-term market dislocations.

We believe this global market environment supports active management of clients’ fixed income assets and an allocation to “true core”, or bond funds which behave like bond funds.

We will take a look at the global corporate bond market given the current macro environment to demonstrate why a global approach to investment grade corporate bonds presents greater opportunity to benefit from market dislocation, increased diversification, and scope to identify compelling investment opportunities with the potential to generate returns, a regular stream of income and also protect capital in the event of a downturn.

Workshop Host:
Jeremy J.W. Cunningham, Investment Director, Capital Group

The New China: Where are the opportunities onshore and offshore and how to access them?
– Fidelity International

China was the best performing emerging market in 2017. So what lies ahead for China given these and new challenges that it’s facing such as trade tariffs?

Fidelity remains positive on China. The latest Fidelity Analyst Survey 2018 shows that Chinese companies are now more confident than they have been at any point in the last 5 years and ramping up on capex. More importantly, Chinese companies would also benefit from the institutionalisation of the domestic stock and bond markets with the inclusion of A-shares and onshore bonds in global indices.

Fidelity has substantial, on-the-ground research resources in China. With their eyes and ears on the ground, our equity and credit analysts are well-placed to identify opportunities and concerns in the vast and fast evolving Chinese market.

We will share more about what we are seeing in China as well as provide an insight into how to navigate and invest in onshore markets.

Workshop Hosts:
Bryan Collins, Head of Asian Fixed Income and Portfolio Manager, Fidelity International
Catherine Yeung, Investment Director, Fidelity International

The rise and rise of sustainable bonds, what it means for private wealth in Asia? – BNP Paribas

The nascent green bond market has witnessed astonishing growth in recent years: worldwide issuance topped USD 155.5 bn1 in 2017 (a +78% growth on 20161) while the diversification of the issuer base has continued unabated as corporates and sovereigns alike have eyed up the funding possibilities. Climate Bonds initiative forecasts green bonds to reach USD 250 bn – USD 300 bn in 2018 1 (i.e a 60% growth on 2017 figures). Their raison d’être? To allocate capital to environmental projects – and to offer investors maximum transparency by putting the impact of their investment under the spotlight. In the past two years, we have witnessed an increasing interest in bonds with social themes, notably with links to the UN’s 17 Sustainable Development Goals (SDGs). For Asian wealth management clients, making sustainable bonds an integral part of their investment portfolio offers an unique opportunity to align their financial goals with their purposes and values.


Workshop Host:
Frank Kwong, Head of Primary Markets, BNP Paribas Global Markets Asia Pacific

The Bank of The Future: The ABCs (AI, Big Tech and Core Banking & Cloud) of digital disruption in finance – Citi

The question for banks today is how do they become Digital Banking Superstars versus going the way of the dinosaurs. The future of finance is an ever increasingly converged ecosystem where consumer and small and medium enterprise financial services are provided by banks and by platform companies with roots in e-commerce. For an incumbent bank to become a Bank of the Future, they must look not only at new technologies, but they must also look to overhaul their operational systems and technology systems.

In the workshop, we will share the ABC’s of digital disruption in finance — Artificial Intelligence, Big Tech, Core Banking & Cloud, and Digital Assets — and identifies ways that incumbent banks can adopt/embrace these disruptive factors and drive their businesses forward.

Workshop Host:
Ronit Ghose, Global Sector Head for Banks, Citi Research

2018 Partners

Lead Partners

Conversation Partners

Networking Partner


For further information, please contact: [email protected]