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MADRID • 3 NOVEMBER 2016

BENEFIT FROM THE KNOWLEDGE OF LEADING FUND MANAGERS

Speakers Madrid

Brendan Walsh - Aviva
NameBrendan Walsh
Job titleFund Manager, Multi Asset
CompanyAviva Investors
TitleThe quest for true diversification
ContentOne of the main challenges for today’s investor is how to generate returns, be it for growth or income. Brendan Walsh will explain how as a global asset manager with expertise in fixed income, equity, real estate, multi-asset and alternative investments, Aviva Investors is well-placed to exploit a multi-strategy approach that aims to deliver specific outcomes for investors.
Biog Brendan joined the industry in 2006 and Aviva Investors in 2010, where he now manages the AIMS Target Return and Target Income funds. Previously, Brendan managed the cyclical asset allocation overlay on the Aviva with profits funds. Prior to joining Aviva Investors, he worked at Standard Life Investments as one of the original members of the Multi-asset team which launched the GARS product under Euan Munro.
He has a doctorate in Seismic Exploration and a degree in Geophysics from the University of Edinburgh. In addition, he is an accredited Professional Risk Manager.
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NameJürgen Maier
Job titleSenior Fund Manager, Global Emerging Markets Equities
CompanyRaiffeisen Capital Management
TitleRaiffeisen-Eurasia-Equities: Invest in the most dynamic emerging markets
ContentOver the last five years, the performance of Emerging Market equities has lagged far behind that of the developed stock markets. Since 2011, EM stocks have actually fallen by more than 30% (as measured by the MSCI Emerging Markets index) and are now trading with discounts of 20–30% compared to the industrialised countries. Of course, these low stock valuations reflect both the declining profitability of EM companies and slower rates of economic growth. At the same time, the valuations also reflect further deceleration in growth and declines in profits, along with the possibility of additional problems in and related to China or more currency depreciation for EM currencies. However many of investors' fears regarding Emerging Markets did not materialize and this year we have seen a stabilization in commodity prices, stabilizing growth rates and foreign currency reserves in China as well as a slowdown in capital outflows from Emerging Markets. While many investors are still very fearful of the negative impact of interest rate hikes in the US, we believe that a lot of emerging markets are taking structural changes to transform their economies and thus in good shape to weather any rise in interest rates. As valuations of EM equities are lower than they have been in quite some time and further deterioration in the fundamental situation is priced in, this also creates a good opportunity to select stocks using a value approach.
At Raiffeisen Capital Management we have launched a unique fund designed to invest in countries that have the highest influence/impact on emerging and global markets over the long run back in May 2000: the Raiffeisen-Eurasia-Equities fund. The fund concentrates on the fastest-growing regions in the world, with young and increasingly better educated populations, alongside a growing middle class. Country /regional weightings are not determined by market capitalisation allowing for better opportunities/representation for smaller countries. The fund is managed by a team of five seasoned EM experts with an average over 20 years of experience. The team approach and high market specialisation allows the fund to have the greatest investment exposure to actual and relevant market dynamics at any given time.
BiogJürgen joined the asset management of Raiffeisen Capital Management in 2006. He is currently a fund manager in the Equities CEE & Emerging Markets team and responsible for global Emerging Markets portfolios, such as the Raiffeisen-EmergingMarkets-Equities fund.
Previously he was working in the EM Fund Management Team at Allianz Global Investors and Union Investment in Frankfurt. Jürgen holds a Master's degree in Business Administration from Vienna University of Economics and Business Administration. He is a CFA charter holder (Chartered Financial Analyst).
Jean-Marc Pont - Generalli
NameJean-Marc Pont
Job titleInvestment Specialist
CompanyGenerali Investments
TitleThematic & sustainable investing: the ageing population
ContentWhile the world population will probably reach 10 billion by 2050, the population aged 60 and above will grow faster and will double by the same date.This long term demographic shift is already impacting our societies and economic models. However, the ageing of the population opens up new opportunities for companies exposed to this theme and its growth.

Generali Investments developed an innovative investment strategy and fund, focusing on European stocks exposed to the theme of the ageing population, through 3 investment pillars:
• Healthcare
• Pensions & Savings
• Consumers

The investment strategy relies on 3 complementary steps:
• 100% ESG screening - investing in companies showing “best effort” ESG practices
• Thematic screening - identifying the companies’ level of exposure to the theme
• Bottom-up, fundamental approach - selecting stocks with the best financial metrics and potential upside

Combining thematic investing and ESG considerations allows us to invest in sound companies which benefit and will benefit from this demographic trend to deliver returns.
BiogJean-Marc joined Generali Investments in June 2015. He has 16 years of investment management experience gained in various financial institutions in both Paris and London (Barclays AM, La Française des Placements and HSBC GAM). Prior to joining Generali Investments, he was Head of Product Strategy & Development - Multi-Asset & Index at Legal & General Investment Management (London).Jean-Marc holds a Master’s degree in Politics & International affairs - Institut d’Etudes Politiques / Sciences Po (Aix-en-Provence), a Master’s degree in Business Studies - AUDENCIA Business School (Nantes) and an Executive Diploma in Banking & Management - CESB & HEC (Paris).
Cristian Balteo - Nordea
NameCristian Balteo
Job titleSenior Product Specialist
CompanyNordea Asset Management
TitleNordea 1 – Flexible Fixed Income Fund: an alternative solution to escape the negative yields
ContentThe Nordea 1 - Flexible Fixed Income Fund is an all-in-one solution to face today’s fixed income markets challenges:
• A highly liquid, global, unconstrained solution that manages duration and credit risk flexibly
• Uses robust tactical asset allocation models and active currency management strategies to help protect the portfolio from strong market downturns
• Applies risk balancing principles to avoid depending on top-down macro biases and deliver consistent performance
BiogCristian has been the Senior Product Specialist at Nordea Asset Management since 2013. He is co-responsible for Nordea’s Multi Assets team range of products as well as for Nordea’s International Focus Equities team’s offering. Prior to joining Nordea, Cristian worked for six years as a fund selector at a leading Spanish independent financial advisory firm. He also has several years of experience as a U.S. Equity Trader in both Europe and America. Cristian holds a Bachelor’s Degree in International Studies from Universidad Central de Venezuela and an MBA from ESADE Business School.
John_Tehan - RWC
NameJohn Teahan
Job titlePortfolio Manager
CompanyRWC Partners
TitleCautious equity strategy for complacent markets
ContentConfidence amongst investors in the central bank put has encouraged risk-taking behaviour, which borders on complacency and is beginning to alarm some of the world’s leading financial regulators. As markets and fundamentals continue to move in opposite directions, investors need to consider how their wealth will be impacted if the market confidence in central bank policy is questioned while at the same time maintaining some risk asset exposure to generate returns in a zero interest rate environment.
BiogJohn joined RWC Partners in September 2010 to assist managing the RWC Equity Income franchise. He previously worked at Schroders, where he co-managed the Schroder Income Maximiser with Nick Purves and Ian Lance. John also co-managed the Schroder Global Dividend Maximiser, Schroder European Dividend Maximiser and Schroder UK Income Defensive funds, all three of which employed a covered call strategy. John also specialised in trading and managing derivative securities for a range of structured funds. Previously he worked as a performance and risk analyst for Bank of Ireland Asset Management UK. John is a CFA Charterholder.
Ian_Lance - RWC
NameIan Lance
Job titlePortfolio Manager
CompanyRWC Partners
TitleCautious equity strategy for complacent markets
ContentConfidence amongst investors in the central bank put has encouraged risk-taking behaviour, which borders on complacency and is beginning to alarm some of the world’s leading financial regulators. As markets and fundamentals continue to move in opposite directions, investors need to consider how their wealth will be impacted if the market confidence in central bank policy is questioned while at the same time maintaining some risk asset exposure to generate returns in a zero interest rate environment.
BiogIan joined RWC Partners in August 2010. He was previously senior portfolio manager at Schroders managing both Institutional Specialist Value Funds and the Schroder Income Fund and Income Maximiser Fund together with Nick Purves. During his time at Schroders, Ian was Citywire AAA rated, Nick and Ian’s Income fund was Morningstar 5 star rated, AA rated by OBSR and won the Moneywise award in 2009 in the UK Equity Income and Equity Income and Growth sectors. Previously Ian was the Head of European Equities and director of research at Citigroup Asset Management and head of Global research at Gartmore.