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MUNICH • 15-16 MAY 2018

BENEFIT FROM THE KNOWLEDGE OF LEADING FUND MANAGERS

Speakers

Diane Bruno - Mandarine Gestion
NameDiane Bruno
Job titlePortfolio Manager
CompanyMandarine Gestion
TitleMandarine Unique – a “unique” way to invest in European Small and Mid- Caps
ContentThe € 1.1bn strong Mandarine Unique fund (LU0489687599) selects “unique” European small and mid- caps being present on niche markets with high growth potential. Diane Bruno will explain that these companies have substantial market shares and therefore benefit from strong pricing power, giving them less overall sensitivity to cyclical effects. The fundamentals of these growth and innovation stories are analysed through their competitive positions, management quality and economic value creation. Portfolio construction is based on the identification and selection of these “unique” business models, which are highly diversified in sector terms. Diane Bruno, Marie Guigou and Marie-Jeanne Missoffe invest in their strongest convictions, without benchmark or sector considerations. This “unique” stocks portfolio is characterized by a significantly lower volatility.
BiogDiane Bruno graduated from ESCP-EAP, Ecole Supérieure de Commerce de Paris (ESCP) - Ecole des Affaires de Paris (EAP) and holds a diploma of the French society of financial analysts, SFAF - Société Française des Analystes Financiers. Diane started her career in 2003 as Auditor with Ernst & Young moving in 2004 to Natixis Bleichroeder as sell side analyst. In 2007 she joined Joëlle Morlet-Selmers’ small & mid cap team at Axa Investment Managers following her in 2009 joining Mandarine Gestion. Today, she is lead portfolio manager of Mandarines’ small and mid- cap fund Unique. In 2015, she was elected best equity fund manager in France by Agefi.
Jan Boudewijns _ Crop
NameJan Boudewijns
Job titleHead of Emerging Markets Equity Management
CompanyCandriam Investors Group
TitleInvesting in Emerging Equity Markets” – a fund manager’s view
ContentIt is becoming a consensus view among investors that emerging markets – driven by an increasing China dominance – are, and will continue to be, a growing source of global economic growth, capturing a greater share of the global economy than the more developed regions. Notwithstanding, this increased EM importance is not yet reflected in the behaviour of the large global investment community in its asset allocation, nor in the weight emerging equity markets represent in large global equity indices like MSCI. This is expected to change gradually and we expect investors to incorporate the growing attractiveness of emerging market growth potential and relative valuation into their investment strategy decisions. During the meeting, we will present our view on, and the drivers of, investing in emerging equity markets and the way we approach this asset class in our investment process and strategy.
BiogJan Boudewijns has been Head of Emerging Markets Equity Management for Candriam Investors Group since 2003. He joined Candriam (formerly Bank BACOB) in 1984 and became Fund Manager in 1988 and Senior Fund Manager in 1990. He has over 20 years of Emerging Markets experience. Jan Boudewijns holds a Master of Science in Bioscience Engineering from Katholieke Universiteit Leuven, Belgium.
Stéphane Mayor - EdRAM
NameStéphane Mayor
Job titleSenior Fund Manager – Emerging Markets
CompanyEdmond de Rothschild Asset Management
TitleEmerging Markets Debt: Born to Perform
ContentThere is no single definition of an emerging country that all can agree with, but many will remember the saying: “an emerging market is a market from which you can’t emerge in an emergency”. However, the joke has gone stale as it is so far from the truth. Emerging markets have generally recovered in the last 2 years, but geographical and sector selectivity is still essential as the zone covers so many different situations. Emerging country corporate debt helps investors capitalise on these differences without being directly exposed to equity market volatility.
BiogStéphane Mayor joined Edmond de Rothschild Group in September 2007 as Emerging Markets Investment Manager. Stéphane Mayor has been working in the financial services industry since 1989 and has been involved in emerging markets research and portfolio management since 1997.
Prior to joining Edmond de Rothschild Asset Management, Stéphane Mayor worked for UBS as a fixed income analyst and portfolio manager from 1989 to 1994 and for ten years at Lombard Odier & Cie as a fixed income analyst and investment manager. In 2004 he joined HSBC Private Bank as senior emerging market fund manager and strategist within the asset management unit in Geneva. Stéphane Mayor graduated from the University of Geneva with a degree in political sciences and holds a post-graduate degree in Financial Analysis and Portfolio Management (CEFA). He is member of the Swiss Financial Analyst Association (SFAA).
Pieter Busscher - Robecosam
NamePieter Busscher
Job titleSenior Portfolio Manager
CompanyRobecoSAM
TitleE-Mobility in the fast lane
ContentThe internal combustion engine’s days are numbered as the weight of economic and environmental evidence mounts in favor of e-vehicles. Pressure from governments over carbon emissions together with accelerating technological advances in energy management and materials are paving the way for E-mobility on the road to the future.
BiogPieter Busscher is a Senior Portfolio Manager responsible for managing the RobecoSAM Smart Materials Strategy. Drawing from his extensive investment experience, Pieter seeks to discover companies applying ideas from the fields of materials science, applied technologies & engineering, to optimize industrial production and address the global challenge of scarce resources. Prior to joining RobecoSAM, Pieter provided sales support for private clients at Credit Suisse Asset Management in Zurich. In addition, he was an instructor of options and investment theory with the B&R Beurs Investment Study Association in Rotterdam. He studied International Business Administration at RSM Erasmus University in Rotterdam, Banking and Finance at the University of St. Gallen (Switzerland), and is a CFA Charterholder.
Mike Gush - Baillie Gifford
NameMike Gush
Job titleInvestment Manager
CompanyBaillie Gifford
TitleEM – Reasons to be cheerful
ContentBaillie Gifford has been investing in emerging markets since 1908 and running dedicated EM portfolios since 1994. Over that time the philosophy underpinning what we do hasn’t changed; we’ve always been active, always focused on hard currency growth and eager to exploit the inefficiencies of short-termism that still persist in markets. Over the last 20 years or more, this has at times led to portfolios that look very different to the index, with significant concentrations in particular geographies or sectors. It is absolutely not a given that all emerging countries emerge. This past year has seen a gradual transition within EM as we move from a period of narrowly confined growth to a broadening out of the opportunity set within the EM universe. Recent returns have been encouraging but we believe we have much further to go. Mike will explore why, at Baillie Gifford, we invest in EM equities in the way we do and why we are excited about the asset class over the coming years.
BiogMike graduated MEng in Mechanical Engineering from Durham University in 2003. He joined Baillie Gifford in the same year and worked in the UK and Japanese Equities teams before moving to the Emerging Markets Equity team in 2005, where he is an Investment Manager. Mike is co-manager of the Emerging Markets All Cap strategy and the Manager of Baillie Gifford’s Greater China Fund. He is a CFA Charter holder.
Graham_Clapp - RWC
NameGraham Clapp
Job titlePortfolio Manager
CompanyRWC Partners
TitleBeating the Street
ContentReports of the death of the stockpicker have been greatly exaggerated. Europe, a market sometimes dominated by macroeconomic concerns rather than corporate fundamentals, might be considered a challenging place to generate alpha. As one of Europe’s standout investors, and having managed the largest European Equity fund, Graham Clapp of RWC Partners will discuss how focussing on company earnings can generate alpha consistently over time. Co-Portfolio Manager Edward Rumble will highlight why the current market environment is conducive to generating great stock picking returns for the smart fundamental investor and where current opportunities might lie across the market.
BiogIn September 2017 Graham completed a deal to join RWC Partners, along with his investment team, from Pensato, which he founded in 2008. At RWC Graham is focussed on using his extensive research capacity to manage both long-only and long-short European equity funds. Before establishing Pensato, Graham worked at Fidelity Investments for 22 years, leading its European Institutional Group from 1991 to 2004.
Edward_Rumble - RWC
NameEdward Rumble
Job titlePortfolio Manager
CompanyRWC Partners
TitleBeating the Street
ContentReports of the death of the stockpicker have been greatly exaggerated. Europe, a market sometimes dominated by macroeconomic concerns rather than corporate fundamentals, might be considered a challenging place to generate alpha. As one of Europe’s standout investors, and having managed the largest European Equity fund, Graham Clapp of RWC Partners will discuss how focussing on company earnings can generate alpha consistently over time. Co-Portfolio Manager Edward Rumble will highlight why the current market environment is conducive to generating great stock picking returns for the smart fundamental investor and where current opportunities might lie across the market.
BiogEd joined RWC from Pensato Capital where he was a founder partner and portfolio manager. Ed began his investment career with Fidelity Investments in London in 1995 as an equity sector analyst working closely with Graham Clapp, and later worked as fund assistant on the Fidelity European Small Cap Fund. Ed left Fidelity in 1999 to move into the Alternatives Asset Management industry and worked initially at Bayard Partners, an established European long/short equity fund. He was, soon after, invited to join American Express Asset Management International ("AEAMI") to co-manage their European long/short strategy which he did successfully between 2001 and 2005 compounding at 12% over the period with volatility of 9%.
Nicolas Samaran - Invesco
NameNicolas Samaran
Job titleHead of Innovative Product Development, PowerShares (EMEA)
CompanyInvesco PowerShares
TitleIncome strategies and Preferred Shares
ContentUS HY Fallen Angels:
The PowerShares US High Yield Fallen Angels UCITS ETF tracks the performance of “fallen angels” – bonds which were previously rated investment-grade but were subsequently downgraded to high-yield. The ETF is based on the Citi Time-Weighted US Fallen Angel Bond Index which employs a unique time-weighted methodology to tilt the portfolio towards the most recently downgraded credit, thereby seeking to maximise capture of the potential price rebound.
US Preferred Shares:
The PowerShares Preferred Shares UCITS ETF tracks the performance of fixed rate US dollar denominated preferred securities issued in the US domestic market. Preferred shares are a regulatory driven, hybrid asset class which provide yields comparable to US high yield bonds, but exposure to investment grade issuers. Constituents in the PowerShares Preferred Shares UCITS ETF are market-value weighted, subject to minimum rating and liquidity constraints.
BiogNicolas Samaran has been Head of Product Development for Invesco PowerShares in EMEA since August 2014. He is responsible for developing a range of Exchange Traded Funds (ETFs) for the European market. His responsibilities include product-line design such as researching, developing and project managing new product ideas and product line enhancements. Prior to joining Invesco PowerShares, Nicolas was Head of Investment Content at Source, a provider of European exchange traded products, focusing on the identification and acquisition of differentiated content. He has also held roles at Man Investments in Switzerland as a senior structurer, and as an executive director in the fund derivative structuring group at UBS Investment Bank in London.
Gregg Guerin-First Trust Global Portfolios
NameGregg Guerin
Job titleSenior Product Specialist
CompanyFirst Trust Global Portfolios
TitleTitle AlphaDEX® Select Opportunities in the Eurozone: Value and Growth
ContentInvesting in Eurozone equities was one of the hottest topics in 2017. Is it the right time? How real is the recovery? How far along is it?
No matter the point in the cycle, the AlphaDEX® methodology scours the European markets looking for the best value and growth stocks. Relying on AlphaDEX®’s time-tested methodology, First Trust will detail the potential opportunities available in today's market. We will also highlight a detailed review of the performance and attribution of EU stock market returns this year.
BiogGregg Guerin is the Senior Product Specialist for First Trust Global Portfolios. Prior to working in London, Gregg was a member of the First Trust Institutional Team. Gregg is a graduate of the Booth School of Business where he received an MBA from the University of Chicago with concentrations in Finance, Economics, and International Business. While there he studied the Efficient Market Hypothesis, its known anomalies and Behavioural Finance. Thus, he is especially equipped to discuss, present and educate the market regarding a plethora of related topics, including the currently popular and confusing term “Smart Beta.” In fact, Gregg taught a course at his alma mater, Wheaton College, entitled The History and Relevance of the Stock Market. He has been immersed in the ETF industry for over 10 years and sees tremendous growth potential for the ETF market here in the UK and European markets.
CONFERENZA GRUPPO AZIMUT
NameStefano Mach
Job titleFund Manager
CompanyAzimut
TitleBETA Exposure via Option Strategy
ContentThe Azimut AZ Fund 1 Equity Option fund gives exposure to the main equity indices ( S&P and EUROSTOXX) via an option strategy with an average market participation of 40/70% in rising markets. The strategy invests in Volatility of the underlying indices. Herby we do not use VolaSwaps but only options therefore using a different strategy as most volatility funds. The strategy is normally implemented via a systematic approach with the selection of the expiration and strike price of the option being based on the skew and volatility analysis. We believe this strategy will be more and more interesting as volatility has turned to the markets. A way to have equity exposure minimizing the risk of volatility.
BiogStefano Mach is a Senior Fund Manager with Azimut since 2008 holding also various positions within the organisation as board member as well as in the investment committee. Stefano has a long experience in financial markets dating back to 1986 after completing its economic studies with a diploma. He introduced a series of very innovative funds and asset classes to the product range of Azimut like a hybrid bond strategy being a first mover in this asset class back in 2013 and eventually becoming a 2bn investment fund. He will present a strategy on volatility on major equity markets like the S&P and the STOXX indices.
Vanessa Donegan - Columbia Threadneedle
NameVanessa Donegan
Job titleHead of Asian Equities, EMEA and Fund Manager
CompanyColumbia Threadneedle Investments
TitleEngaging Asia's Quality Growth Transformation
ContentDespite the headwinds of trade tensions and rising US interest rates Asian stock markets should fare relatively well this year given the strength of domestic demand underpinned by consumption, rising corporate profits and undemanding valuations. As China makes steady progress towards a new growth model with an emphasis on quality rather than quantity, new investment opportunities are emerging. During the meeting Vanessa will discuss the positive implications of this structural shift for stock picking in China, including Chinese listed A shares, and outline her current strategy for the Asian region as a whole.
BiogVanessa joined the company in 1994 at its formation as an Executive Director and was appointed Head of Asia ex Japan Equities team in September 1997. She is currently Head of Asian Equities, EMEA. In addition to her leadership role, Vanessa has analytical responsibility for the banking and insurance sectors across the region. Vanessa manages the Threadneedle Asia Fund as well as the Threadneedle China Opportunities Fund. Vanessa began her career in 1981 with Grieveson Grant Stockbrokers where she progressed to manage Far Eastern investments. She joined Allied Dunbar Asset Management¹ in 1986, where she was responsible for the management of Far Eastern funds. Vanessa holds a degree in classics from Oxford University.