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LUXEMBOURG • 14 FEBRUARY 2017

BENEFIT FROM THE KNOWLEDGE OF LEADING FUND MANAGERS

Speakers

Luca Lionetti-Azimut
NameLuca Lionetti
Job titlePortfolio Manager
CompanyAzimut Group
TitleThe world of corporate hybrids
ContentAzimut will present the very interesting asset class of hybrid bonds explaining the background of the idea to construct the worlds by far biggest corporate hybrid bond fund. Corporate hybrids bond market has risen in the last four years form a 20bn to a 140bn market gaining more credibility as a true alternative to normal corporate bonds or the high yield market. Luca Lionetti will also explain the issuance rationale and the use of corporate hybrids given also the high number of M&A activity among listed companies in the world. Luca Lionetti will also give a view on his strategy for the Azimut Corporate Hybrid Bond Fund in the current interest environment.
BiogLuca Lionetti gained a degree in Economics at the University of Milan and following this achieved a Masters from the Cattolica University in Milan in corporate and investment banking in 2005. Luca started his career in Euromobiliare Asset Management as emerging markets bonds and global macro fund portfolio manager until 2009. In 2009 he moved to Luxembourg to build a corporate bonds desk in AZ Fund Management S.A. (Azimut Group) and manage a global macro fund. Between 2011 to 2012 Luca worked at the Hong Kong branch of Azimut where he launched and managed two funds investing in renminbi. In 2013, Luca returned to Luxembourg where he launched and started to manage an hybrid bonds fund. As of today, the AUM invested in spreads products are about €6 bn.
Chip Bailey_Photo
NameCraig O. 'Chip' Bailey
Job titleExecutive Vice President
CompanyNWQ Investment Management Company, LLC, a Nuveen boutique
TitleCould the Trump presidency be good for US Small Cap managers
ContentNWQ Investment Management Company, LLC is a Los Angeles based global value manager, seeking to identify mispriced stocks. 2016 was a pivotal year for US small cap stocks, with strong performance leading to a significantly reduced ten year performance differential between US small and large caps. Can this strong performance continue? As the market focuses upon the implementation of Trump’s policies, might there be US corporate tax reform? And will this result in a disproportionate benefit to small, US-centric firms which tend to pay a full tax rate? Could US small cap companies be well positioned to benefit from additional factors such as a strong US dollar, and continued global economic uncertainty? In this session, NWQ will discuss the current US market environment, and how the firm’s security selection process seeks to identify investment opportunities.
BiogPrior to joining NWQ in 2007, Chip spent 10 years as Managing Principal of Westbourne Capital Management, LLC. At Westbourne, he managed separate investment portfolios for individuals, families, and corporate pension funds. Prior to that, Chip spent 14 years with Trust Company of the West. During this time, he was an Equity Analyst following the food, beverage, tobacco, auto and auto parts industries. He concluded his tenure at TCW as Managing Director, U.S. Equities.

Chip graduated from the University of California, Los Angeles with a B.A. in History. He earned his M.B.A. from the Kellogg School of Management at Northwestern University.
Emiliano Laruccia - Eurizon
NameEmiliano Laruccia
Job titleCIO
CompanyEurizon Capital
TitleHow to overcome uncertainty in 2017 with a contrarian approach on equity and low vol Abs return approach on EM Bond
Content2017 will be dominated by higher uncertainty. Mature economic cycle in US and uncertainty on Trumpnomics, Fed and ECB tapering, elections in Europe will be sources of incertitude that will challenge asset managers. In this context, Eurizon Capital proposes two solutions. As Central Banks in the developed world have strongly complicated the asset management of fixed income products, by imposing via QE negative or quasi-negative yield, in order to avoid excessive exposure to interest rate, exchange rate, and credit risks, Eurizon Capital best pick is represented by Epsilon Fund Emerging Bond Total Return. The find offers to institutional investors a valid alternative to negative yields on the short end of the curve. In a scenario of economic growth below historical average and nominal interest rates near zero, achieving positive real returns with a high Sharpe Ratio and below average equity volatility is our goal. A unique investment approach based on a disciplined flexible equity allocation and the selection of sustainable high dividend stocks are the key elements of Eurizon EasyFund Azioni Strategia Flessibile aimed at seizing the risk-adjusted opportunities offered by core equity markets
BiogEmiliano graduated in 1997 from L.Bocconi University with a degree in Economics, and then continued at the same institution as a teaching assistant at the Faculty of Economics of Financial Intermediaries. He got a master in finance from the London Business School. From 1998 to 2000, he was quantitative analyst at the Research Department of Banca Commerciale Italiana. In 2000, he joined Sanpaolo Asset Management SGR (now, Eurizon Capital SGR), as part of the Wealth-Lab team, where he was responsible for structuring capital-protected products and involved in multi-manager business set up. In 2003, he became Head of Balanced and Structured Products in Sanpaolo AM Luxembourg S.A (now, Eurizon Capital S.A.). Emiliano was appointed Head of Investments of Eurizon Capital S.A. in 2005 extending his responsibility to Limited Tracking Error funds, covering multiple asset classes. He is Contract professor at C. Cattaneo University in Castellanza, and the author of numerous publications.
Nathan Chaudoin-American Century
NameNathan Chaudoin
Job titleClient Portfolio Manager
CompanyAmerican Century Investments
TitleA case for active bottom-up management in EM
ContentEM fundamentals improved over the course of 2016 but with significant geographical differences. As we begin 2017 with expectations for an improvement in global growth, we remain constructive on the asset class though Fed and US trade policies remain key risks . EM central banks remain biased towards easing, loosening policy and financial conditions should facilitate stronger growth. EM cyclical data continues to move higher supported by easing financial conditions. Commodity producing economies are begin to stabilize. EM valuation remains attractive to developed markets. In our session, we will present our distinctive growth philosophy based on identifying sustainable improvement in a company’s fundamentals. We expect the recovery in EM to continue and believe that success lies at the stock level.
BiogNathan is a member of the Global and Non-U.S. Equity team and is responsible for communicating global and non-U.S. equity investment strategies and results to the firm’s clients and consultants. Nathan joined American Century Investments in 2014. Previously, he was with HSBC Global Asset Management, most recently as a senior emerging market debt product specialist. He also served as a quantitative product specialist and worked in product development in the firm’s New York and Paris offices. Prior to HSBC, Nathan held a role in business strategy and development at Dresdner RCM Global Investors. He has worked in the investment industry since 2000.