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Eric Papesh-T. Rowe
NameEric Papesh
Job titlePortfolio Specialist
CompanyT. Rowe Price
TitleUncovering Value Within an Ageing Bull Market
ContentAt nearly nine years old, the current expansion of the US business cycle is the second-longest running on record. Over the same period, the US equity market has advanced by over 240 percent. More recently, anxiety over accelerating inflation and higher levels of interest rates have resulted in a meaningful pickup in market volatility. What’s likely to unfold over the next several quarters, and what should investors be focused on today? Join Eric Papesh as he discusses T. Rowe Price’s views on both the risks and the opportunities embedded in today’s market, and highlights where the team is finding the most attractive investment ideas in an environment which is likely closer to the end of the expansion than to the beginning.
BiogEric Papesh is a Portfolio Specialist in the U.S. Equity Division of T. Rowe Price. Eric supports T. Rowe Price's US Smaller Companies Equity and US Large-Cap Equity Strategies offered in the Europe, Middle East and Africa (EMEA) and Asia-Pacific (APAC) regions. He has 22 years of financial services experience, two of which have been with T. Rowe Price. Before joining the firm in 2014, he was a senior research analyst with Russell Investments, where he focused on US equity investment strategies. Eric earned a B.A. in business administration and an M.B.A. from the University of Washington. He has also earned the Chartered Financial Analyst designation.
Flavio Carpenzano-AllianceBernstein
NameFlavio Carpenzano
Job titleSenior Portfolio Manager—Fixed Income
TitleIt is time to come back home!
ContentOver the last few years European fixed income investors globalised their portfolio to escape the negative/low yield environment of euro investments. However, today the annual cost of hedging a US dollar-denominated investment into Euros accounts for around 2.8%. A bond yield may look attractive in US dollar, but if European investors hedge these back to euros to avoid currency risk, they shave off the vast part of the income paid. Although this does not mean European investors should make a complete U-turn from their global allocations, it is worth looking closer to home again. We believe a balanced mix of carefully selected euro government and corporate bonds can still deliver a yield of around 2.5% with an average investment grade portfolio rating. In addition, select tactical opportunities such as European financials subordinated debt still offer attractive valuations alongside strong fundamentals of the banking sector.
BiogFlavio Carpenzano joined AB in 2017 as a Senior Portfolio Manager for Fixed Income. In his client-facing role, he represents the market views and investment strategies of the firm’s Fixed Income portfolio-management team, with a focus on credit-related strategies. Carpenzano has 12 years of experience and previously served in a similar role at PIMCO. Before that, he worked as an analyst for the Bank of England and as a trader at Citigroup. Carpenzano holds an MSc in finance and economics from Università Bocconi in Milan. Location: London
Paulo Salazar - Candriam
NamePaulo Salazar
Job titleSenior Equity Analyst – Emerging Markets
CompanyCandriam Investors Group
TitleEmerging Market Equities: picking the right partner for a promising ride
ContentIn a context of synchronised global growth, with US growing vigorously and Europe leaving behind the worst of the crisis, emerging countries take the lead of global growth, showing again a clear supremacy. With growth patterns less and less dependent on developed markets, companies operating in emerging countries offer numerous opportunities in the most traditional sectors, as well as in megatrend related sectors, such as technology and demography. in this context, Candriam’s experienced team will share with the participants how our fund Candriam Equities L Emerging Markets generates alpha in a consistent manner, through a unique investment approach that combines a winning stock picking approach with a thematic overlay.
BiogPaulo Salazar joined Candriam in 2015 as an equity research analyst covering emerging markets. Paulo has over 10 years of experience in private equity and financial markets. Prior to joining the firm, Paulo was a private equity associate at The Riverside Company based in Brussels. Prior to that, he worked with equity research for GWI Asset Management, Equitas Investimentos and Banco Itau in Brazil covering several industries in Latin America and the United States. Paulo earned his B.B.A. in Corporate Finance and Financial Markets from FGV-EAESP in Sao Paulo and has an International Diploma in Finance from University of California, Berkeley Extension.
Anthony Beevers - First Trust Global Portfolios
NameAnthony Beevers
Job titleCFA- Portfolio Manager
CompanyFirst Trust Global Portfolios
TitleHarvesting Yield Divergence and the Currency Risk Premium
ContentTraditional approaches to fixed income focus on duration and credit risk premiums across the fixed income universe. Anthony will discuss a new approach to shift the focus to relative global yield divergence and the carry or currency risk premium. First Trust’s FactorFX Fund (FTFX LN) is an exchange-traded fund (ETF) that seeks to deliver total returns by exploiting carry, value and momentum factors within global fixed-income and currency markets.
BiogAnthony is a Portfolio Manager at FTGP. Prior to joining the firm he was a Senior Analyst on the Portfolio Management team at FQS Capital Partners, a specialized quantitative investment firm investing in hedge Funds across fixed income, FX and equity markets. Anthony graduated with first class Honors from the ICMA Centre at the Henley Business School and is a CFA Charterholder.