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FRANKFURT • 22 FEBRUARY 2018

BENEFIT FROM THE KNOWLEDGE OF LEADING FUND MANAGERS

Speakers

Danat Abdrakhmanov - Eaton Vance
NameDanat Abdrakhmanov
Job titlePortfolio Manager
CompanyEaton Vance
TitleProtecting your fixed income portfolio in a challenging environment
ContentLofty bond valuations and the heightened risk of rising yields have spurred interest in global macro strategies that can potentially deliver attractive risk-adjusted returns regardless of the future direction of the broader market. The $170m Eaton Vance International (Ireland) Global Macro Fund is based on the successful Eaton Vance Global Macro Absolute Return strategy launched in 1996 that has proved its long/short expertise over time – notably, during the challenges of 2007 and 2008. This Fund is distinguished by its diversity of ideas (approximately 80 positions at any one time – much higher than what we observe in most macro strategies), underpinned by in-depth, proprietary, fundamental research. Research efforts span the globe and include small economies such as Macedonia, El Salvador and Sri Lanka usually not covered by the macro fund peer group. Exploring less well-trodden paths can help to build a portfolio with low volatility and limited sensitivity to traditional systematic risk.
BiogDanat Abdrakhmanov is a Vice President of Eaton Vance Advisers International and Portfolio Manager on Eaton Vance’s global income team. He is responsible for macroeconomic and political research, investment decisions, and portfolio construction, covering Eastern Europe, the Middle East and Africa. He began his career in the investment management industry with Eaton Vance in 2006.
Danat earned a B.S., cum laude, from the Carroll School of Management at Boston College. He is a member of the CFA Society of the UK and is a CFA charter holder.
Annelie Fearon-EDR
NameAnnelie Fearon
Job titleSenior Convertible Bonds Portfolio Manager/Analyst
CompanyEdmond de Rothschild Asset Management
TitleConvertible Bonds are an attractive option for navigating rising rates and increasing volatility
ContentWith corporate earnings and global GDP growth solid and central banks, notably the Fed and now the BoE, primed to raise interest rates, one thing that seems assured in 2018 is that the trend for rates is higher. At the same time, the withdrawal of monetary stimulus is a significant unknown and, particularly with the recent strong performance of risk assets, we think the scope for volatility to increase from current historic lows is considerable. Convertible bonds offer an attractive way to navigate this environment owing their combination of upside optionality and downside credit protection. Rising rates should favour equity-linked issuance while the existence of M&A and dividend protection in these structures is optimal in a period of increasing corporate activity. Perhaps most compelling though is the asset class’s record of outperforming equities in periods of increased volatility and fixed income in periods of rising rates which bodes well for 2018.
BiogAnnelie has 14 years of experience in the convertible bonds market and 18 years of experience within the financial markets. Annelie joined Edmond de Rothschild Asset Management in March 2016 as a Senior Convertible Bonds Portfolio Manager/Analyst. From 2003 to 2015 she worked for Cheyne Capital Management based in London as a Portfolio Manager/Senior Analyst on the firm’s Global Convertible Bond Strategies. She co-managed a portfolio of global convertible bonds, equity CFDs and index futures and options comprising the Cheyne Convertible Absolute Return Fund UCITS. She also managed Cheyne’s European and Emerging Markets long-only convertible bond mandates. Previously, she worked for JP Morgan as an associate analyst within the European Equity Research Team specializing in the European ISP and New Media sector and latterly in Food & Household Products. Annelie graduated from University College London with a degree in Geography and a masters in Russian and Eastern European Politics.
Peter Wendt-Invesco
NamePeter Wendt
Job titleSenior Client Portfolio Manager
CompanyInvesco Asset Management Deutschland
TitleCombining Structure and Discretion
ContentThe Invesco Active Multi-Sector Credit Strategy is a multi-allocation strategy designed to deliver returns in excess of those available in the investment grade market with a risk profile less than that of the high yield market.
Through an active strategic and tactical asset allocation process to credit-related debt the Invesco Active Multi Sector Credit Fund seeks to achieve its objective of providing a positive total return over a full market cycle.
BiogAs a Senior Client Portfolio Manager, Peter represents Invesco Fixed Income products and capabilities in Europe, the Middle East and Asia Pacific. He works closely with the portfolio management team in London and supports Invesco’s business development and relationship teams in their dealings with prospects, clients and consultants. Peter also contributes to product development.

Prior to joining Invesco, Peter worked at Wellington Management (2005 – 2010) as a portfolio specialist with similar responsibilities. Within Wellington Management’s Global Fixed Income business Peter focused on European prospects and clients in particular in Germany, Austria and Switzerland. He coordinated product development, marketing and customisation of Wellington’s fixed income capabilities. Before that he worked at F&C Asset Management (2001 – 2005) in institutional and wholesale business development and as a fixed income trader at HypoVereinsbank in Munich (1999 – 2001). He started his career as a financial advisor for high net worth individuals at Vereins- und Westbank in Germany (1994 – 1999).

Peter is fluent in English and German. Peter received his Bankbetriebswirt from Bankakademie in Frankfurt in 2000.
Alejandro Arevalo - Jupiter
NameAlejandro Arevalo
Job titleFund Manager
CompanyJupiter Asset Management
TitleEmerging Market Debt: Has the trend got further to run, or are we at a turning point?
ContentWhile the Fed is well underway normalising interest rates, investors may ask the question: what will all this mean for emerging markets and are we coming to the end of the growth cycle? Moreover, as the number of issuers in the emerging market universe hits new highs and crosses more than 52 countries, is this a source of greater opportunity or hidden risk? Drawing on almost two decades of investing in EM, Alejandro Arevalo will outline his market outlook and what he views as the main risks for 2018. He will discuss his team’s approach to identifying and capitalizing on the idiosyncrasies within EMD with the aim to generate alpha. Providing country and security level examples, Alejandro will discuss key performance drivers and the current portfolio themes that he believes should reap returns for clients in 2018.
BiogAlejandro joined Jupiter in November 2016 and is a Fund Manager in the fixed income team, specialising in emerging market debt. He is manager of the Jupiter Global Emerging Markets Corporate Bond fund and the Jupiter Global Emerging Markets Short Duration Bond fund (SICAVs).

Prior to joining Jupiter, Alejandro was an emerging markets corporate debt portfolio manager at Pioneer Investments for four years. Before that, he worked on emerging market debt strategies at Standard Bank Asset Management, Gibraltar Bank and the International Bank of Miami. He began his investment career in 1998.

Alejandro has an MBA in Finance from Florida International University and graduated from Universidad Francisco Marroquin in Guatemala.
Charudatta Shende - Candriam
NameCharudatta Shende
Job titleSenior Client Portfolio Manager
CompanyCandriam Investors Group
TitleEMD: Extracting value through a non-benchmarked approach
ContentAfter two years of stellar returns in emerging market debt, differentiation will be extremely important in 2018 when investing in the asset class. Though improving fundamentals and relatively attractive yields continue to offer upside, external factors (such as Fed rate hike) and EM specific risks (such as elections or political instability) are likely to present challenges. Candriam Bonds Emerging Market Total return implements a total return investment process that is benchmark agnostic and allows the investment team sufficient flexibility to capture all types of EMD risk premia across the HC and LC spectrum. The Fund also employs a time-tested relative value approach that allows it to selectively pick the best investment opportunities across EM debt and currency markets. Furthermore, the Fund benefits from a risk aware investment approach and deploys an active VaR risk management framework in order to deliver attractive risk-adjusted returns across all market conditions.
BiogCharudatta has been a Senior Client Portfolio Manager within the fixed income team at Candriam since September 2016. Since then, he has been responsible for the communication and messaging regarding all FI strategies, with a strong emphasis on EM Debt and Credit. He has over 12 years of experience in the asset management industry, with 10 years within the fixed income universe. Prior to joining Candriam, he was a product specialist at Carmignac Gestion, in France, where he was in charge of communication on the fixed income funds. He began his career with Pioneer Investments in Dublin, where he was a Product Research Analyst.

Charudatta holds a double degree in Finance and Economics from the American School of Paris, where he graduated with honours.
Andrew Fox - Lord Abbett
NameAndrew Fox
Job titleInvestment Strategist
CompanyLord Abbett
TitleThe Short Duration Anomaly
ContentLow return expectations are forcing investors to add risk or experiment with new types of investments. Relative value opportunities are increasingly scarce. Yet somehow, certain pricing anomalies in the credit markets persist. Short term corporate bonds present return characteristics that seem at odds with traditional views of bond market return drivers. Andrew Fox will discuss this phenomenon, and how a diversified and opportunistic approach to investing can make this asset class an essential part of any portfolio.
BiogAndrew Fox is responsible for providing Lord Abbett’s portfolio management teams with investment insight and relevant market information for the firm’s fixed income strategies. In this role, he also communicates with institutional clients and prospects regarding current portfolio positioning and the firm’s market outlook. Andrew also collaborates with the consultant relations, product development, and relationship management teams as appropriate.

Andrew joined Lord Abbett in 2001 and has been in the financial services industry since 1999. He earned a BA in political science from Montclair State University. He also is a holder of the Chartered Financial Analyst® (CFA) designation and Certified Investment Management Analyst (CIMA) designation.