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BARCELONA • 1 JUNE 2017

BENEFIT FROM THE KNOWLEDGE OF LEADING FUND MANAGERS

Speakers

Stephane Fertat - T Rowe Price
NameStephane Fertat
Job titlePortfolio Specialist
CompanyT. Rowe Price
TitleWhat role for fixed income today?
ContentThe cross-currents buffeting the global economy have rarely been stronger, and the rules of investing in fixed income seem to have radically changed. In a world of zero interest rates, can we still expect fixed income to deliver its traditional characteristics of income, protection and diversification? Furthermore, as we see increasing demand for more absolute return oriented strategies, are we simply replacing market risk in favour of other types of risk such as manager risk for our clients? During this session, we will explore how investors can reconfigure their fixed income allocations and how T. Rowe Price designed a solution to help them navigate through the current environment and still achieve their investment goals.
BiogStephane Fertat is a member of T. Rowe Price Global Fixed Income team, supporting all global/international fixed income strategies. His broad knowledge of fixed income, currency, credit and derivative instruments has led him to assist in the development of customized fixed income solutions and in the launch of new strategies since joining the firm in 2007. He was previously employed by Fischer Francis Trees and Watts where he worked as a European fixed income fund manager before moving to a product manager role.
Mikko_Ripatti_DNB_Asset_Management
NameMikko Ripatti
Job titleSenior Portfolio Manager
CompanyDNB Asset Management
TitleDIGITAL DISRUPTION creates opportunities for investors
ContentSeveral technological forces are disrupting industries. This creates both opportunities and threats for companies. The speed of change is impressive. Who could have guessed that Nokia, ones the world leading mobile phone manufacturer with more than 40 % of global handset market selling 15 phones a second at the peak, would go almost bankrupt in a question of few years!
Technology is not anymore just about PCs, but it’s about cars, taxi services, hotel bookings, homes, phones, drones, security solutions, you name it. Technology is truly “eating into all sectors” and increasing its importance. More than 20% of MSCI World today is Technology when you sum up Information Technology, Telecommunication Services and Consumer Discretionary companies that are tech, like Netflix and Amazon.
We find the technology theme interesting because it has above average growth with reasonable valuations in a near zero interest rate world. Valuations have gone up, but there are plenty of opportunities for active bottom-up stock pickers like us, who don’t have to stick to a certain benchmark.
BiogMikko Ripatti joined DNB Asset Management in Luxembourg as a senior portfolio manager in June 2015. Possessing deep knowledge about portfolio management and working in close collaboration with the fund managers in Norway, Mikko supports DNB´s high level of client activities in the international markets. He also oversees DNB Asset Management´s Luxembourg-domiciled funds. Between 2007 and 2015 Mikko worked in Helsinki as a fund manager at FIM Asset Management where, as part of the emerging markets team, he was responsible for investments in Latin American markets. Between 2000 and 2007 Mikko worked for Finland’s best-known company Nokia in different strategy, market analysis and business development related positions in Latin America and Finland. Mikko has a master's degree in Economics and Business Administration from the Finnish Turku School of Economics. He speaks Finnish, Swedish, English, Portuguese, Spanish, French and a little bit of German.
Arnaud_d_aligny
NameArnaud d’Aligny
Job titlePartner, Portfolio Manager
CompanySycomore Asset Management
TitleSycomore : How to generate sustainable performance in a challenging environment
ContentIn this session, Arnaud d’Aligny explains Sycomore’s philosophy in long only investing. Without any bias on value or growth, the firm focuses on “common sense” investing: finding companies able to navigate in all cycles thanks to good quality and discounted valuations. In order to implement this methodology, the firm has designed a fundamental analysis model called SPICE, which aims to generate superior performance with reduced risk through a proprietary set of innovative investment criteria. Arnaud will explain how this model helps idea sourcing, how it impacts the fund security selection and why it should add value in the current environment. Since its inception in January 2011, the strategy has outperformed its benchmark each year, with lower volatility.
BiogArnaud d’Aligny is a Partner of Sycomore Asset Management with 17 years of experience in the financial industry. He worked for 9 years at Goldman Sachs as an Investment Banker in Paris, New York and London, where he was involved in a large number of M&A, IPO and financing transactions in a broad range of sectors (consumer, retail, healthcare, business services, media, telecoms, industrials). He joined Sycomore Asset Management in 2011 to conduct equity research across sectors and Europe and is co-portfolio manager of our funds Sycomore Eurocap and Sycomore European Growth.
Arnaud d’Aligny holds an MBA from the Wharton School at the University of Pennsylvania and a Master of Science in Aeronautics and Astronautics from ISAE Supaéro
Davidson, Nick
NameNicholas Davidson
Job titleSenior Portfolio Manager—Equities
CompanyAB
TitleAB European Equity Portfolios – Multiple Ways to Win in Europe Today
ContentHigh levels of investor anxiety in recent years have created extreme mispricings in European markets, creating significant opportunities for skilled stock pickers. AB’s equity team exploit these opportunities by taking multiple quantitative and fundamental perspectives on companies’ earnings prospects to produce differentiated insights on stock and industry-specific sources of return, in particular:

• Companies undergoing positive change
• Companies with a sustainable competitive advantage
• Strong or improving industry dynamics

The team have enhanced their disciplined process followed by their long-established pan-European and Eurozone funds, enabling the funds to produce strong returns even in a period of unusual market disruption over the last few years. Nicholas Davidson will outline these enhancements and summarise some of the most significant areas of return potential the AB team see in Europe today.
BiogNicholas Davidson joined AB in 2005 as a Senior Portfolio Manager. He works with clients across a range of AB’s global and regional equity services, and comanages the Global Equity Income Portfolio. Davidson was previously a consultant with McKinsey & Company, serving clients in the telecommunications and media industries and in the public sector. Prior to that, he worked as a civil servant on trade and telecommunications policy in the UK’s Department of Trade & Industry and in the British Embassy in Washington, DC. Davidson holds an MA in history from the University of Oxford and an MBA from Georgetown University. Location: London