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STOCKHOLM • 12 - 13 MARCH 2018

BENEFIT FROM THE KNOWLEDGE OF LEADING FUND MANAGERS

Speakers

Lauren Jacquier Laforge-La Francaise
NameLaurent Jacquier-Laforge
Job titleCIO Equities
CompanyLa Française
TitleIs climate change awareness gaining the upper-hand? What are the opportunities for investors?
ContentThe emergence of a low-carbon economy is creating asset management opportunities as well as new risks. Investors around the world are becoming increasingly aware and concerned about the current and future impacts of climate change on both the financial performance of their portfolios and in terms of society’s increasingly broad interpretation of their fiduciary responsibilities. It is no longer enough for asset managers to observe companies through the prism of their financial data only.
BiogLaurent began his career in 1985 as Head of Equity Research at CCF (HSBC Group). In 1990, he joined Handelsbanken Markets Paris as Chief Operating Officer. Ten years later, he became part of CDC Ixis Asset Management as a Senior Portfolio Manager for European Large-Cap Equities, before occupying the same position with the Fortis Investment team in 2002. Between 2008 and 2012, he took on the role of Head of Equities at Scor Global Investments. In 2012, he was appointed Head of Equities with La Banque Postale Asset Management (LBPAM) and was a member of LBPAM’s Executive Board. Laurent joined La Française in 2014 as CIO Equities. Laurent Jacquier-Laforge holds a DESS-DEA in Economics from the Université Paris X Nanterre. He is a certified member of the SFAF (the French Society of Financial Analysts).
Marc Bindschädler-Vontobel AM
NameMarc Bindschädler
Job titleSenior Portfolio Advisor
CompanyVontobel Asset Management
TitleWhy stock selection is the key to success in emerging markets equities
ContentEmerging markets equities are often considered as more driven by fundamentals compared to many other asset classes. Hence, bottom-up fundamental analysis of companies is crucial to achieve sustainable outperformance. Vontobel Asset Management’s Marc Bindschädler will explain how the “mtx Sustainable Leaders” approach identifies high-quality companies at an attractive valuation in a structured and disciplined way. This approach is focused on identifying industry-leading companies with high profitability measured as Return on Invested Capital (ROIC), competitive advantages, trade at a discount to their intrinsic value and management demonstrates leadership with regards to effectively addressing Environment, Social, Governance (ESG) issues. Marc will also elaborate on how to combine quantitative filtering for idea generation and detailed fundamental research as well the how to make best use of ESG assessment in the investment process.
BiogMarc Bindschädler is Portfolio Advisor for the mtx boutique. He also acts as client facing ESG specialist and in that capacity supports all ESG related strategies of the Zurich based equity boutique. He joined Vontobel Asset Management in December 2011. Prior to his current role he worked as senior relationship manager for Swiss intermediary clients. Before joining Vontobel Asset Management, Marc Bindschädler worked from 2010 to 2011 as product specialist for sustainability investing at UBS Wealth Management. From 2006 to 2010, Marc Bindschädler worked as relationship manager at SAM sustainable asset management. In this position he was responsible for acquisition, sales and client relation activities for institutional and wholesale clients. Prior to that, from 2001 to 2006 he held various relationship management positions at UBS Asset Management. Marc Bindschädler holds a degree in Business Administration from the Marketing and Business School, Zurich.
Dieter Küffer-RobecoSAM
NameDieter Küffer
Job titleExecutive Director, Senior Portfolio Manager
CompanyRobecoSAM
TitleWater – THE long term megatrend
ContentPopulation growth, the development of new megacities in emerging markets, changing diets as well as increasing industrial production have led to a constantly rising demand for water. But this source of life is limited: Water is becoming a scarce resource in quantity and quality . Therefore it is imperative to use it efficiently, and this opens up fantastic investment opportunities. The RobecoSAM Sustainable Water Strategy is an attractive addition to a portfolio seeking long-term growth. The strategy outperformed the MSCI World by more than 4% per year since inception in 2001. Meanwhile the water market is expected to grow between 5–6% annually until 2020, reaching USD1trn by 2025. Join our portfolio manager Dieter Küffer for a thrilling journey to explore the growth opportunities in emerging market’s water management as well as the growing revenue streams in mature economies.
BiogDieter Küffer is Senior Portfolio Manager responsible for managing the RobecoSAM Sustainable Water. Prior to joining RobecoSAM in 2001, he led a team responsible for the management of actively managed equity mandates on behalf of Swiss institutional clients at UBS Asset Management in Zurich. He began his career as an investment counsel in the private banking division of UBS. Dieter Küffer holds a federal diploma as Swiss-Certified Banking Expert and is a CFA Charterholder. He joined RobecoSAM in 2001.
Corrado Gaudenzi-Eurizon
NameCorrado Gaudenzi
Job titleHead of Long Term Sustainable Strategies and Portfolio Manager
CompanyEurizon Capital
TitleEurizon Fund Sustainable Global Equity: how to integrate ESG considerations in our portfolio and identify longer term potential drivers of value.
ContentA new opportunity to invest on the international stock markets using an Environmental, Social and Governance strategy. The fund aims at achieving an extra-performance in the long term vs. the 100% MSCI World Hedged in Euro benchmark through exchange-rate hedged investments on the international stock markets using a stock-picking process which favours companies that offer sustainable competitive advantages, identified by integrating ESG criteria, that in our view, focus on the “materiality” of the companies’ social and environmental impacts. Corrado Gaudenzi , Head of Long Term Sustainable Strategies and Portfolio Manager of Eurizon Fund Sustainable Global Equity
will explain the sound fundamental pillars underlying this investment process and how it’s expected to behave in the foreseeable market scenario.
BiogCorrado graduated in economics from the University of Bologna in 1989, Corrado started his career as quantitative analyst at some minor regional Italian investment companies. In 1997 has joined Eurizon Capital (former Sanpaolo Asset Management) as head of quantitative research. In that role he elaborated stock selection and asset allocation models that were used in the investment process of several equity and balanced products. He spent 2008/2009 refining the models that are currently the core investment process of Azioni Strategia Flessibile. With more than 20 years of experience in the space, Corrado is now taking care of the investment process, the asset allocation and the stock selection of the equity flexible investment style.
Olivier Blin-Unigestion
NameOlivier Blin
Job titleDirector
CompanyUnigestion
TitleAlternative Risk Premia – the ultimate portfolio diversifier? Understanding the challenges of risk premia selection, implementation and allocation behind this uncorrelated source of returns
ContentAlternative risk premia investing has grown rapidly in popularity in the investment community in recent years. They encompass solutions mimicking investment strategies formerly available through investment in hedge fund vehicles but with terms more favourable to investors, notably in terms of liquidity, structure – UCITS or management fees. But the vast majority of the debate has focused on describing the alternative risk premia – rather than focusing on how to implement and allocate across the different premia. In our view the topic of allocation across alternative risk premia has been largely overlooked. Like other asset classes it’s time to better understand the drivers of alternative risk premia strategies. They may go by the same name, but the dispersion of returns proves – just like every other asset class – a better understanding of the selection, implementation and allocation across risk premia is essential to picking the right approach and the right alternative risk premia fund.
Unigestion’s UCITS alternative risk premia fund seeks to deliver a smoother return profile by using our proprietary macro regime approach and proprietary multi-dimensional risk model approach to strategically and dynamically allocate to alternative risk premia.
BiogOlivier Blin, Director, is Head of Systematic Strategies within the cross assets solutions team. He joined Unigestion in September 2014 as a Director. Olivier began his career in 2006 in the delegated management department at the French reserve fund. In 2010, he joined Lombard Odier Investment Managers as a portfolio manager focusing on asset allocation. Olivier holds a Master’s degree in Financial Engineering from University of Caen in France.
Anthony Lawler-GAM
NameAnthony Lawler
Job titleCo-Head GAM Systematic
CompanyGAM Investments
TitleAlternative Risk Premia
ContentEquities are priced for continued, strong global growth. Bonds are very expensive with negative real yields in many major markets. Where is diversification to be found?

If growth disappoints causing equities to sell off, will bonds really rally enough – and real rates fall even further – to help portfolios?

One liquid source of diversifying return is alternative risk premia, even in this current environment where equities seem fully priced and bonds seem expensive. Alternative risk premia can deliver returns by taking relative value and relative carry positions as well as positions based on price trend behaviour. These diversified portfolios invest across asset classes and have shown low correlation to equities and bonds while producing positive investment performance. We believe part of the solution to finding liquid, diversifying investments lies in alternative risk premia.
BiogAnthony Lawler is Co-Head of GAM Systematic. Prior to joining GAM in November 2011, he spent eight years with Man Group based in London and Chicago, latterly as head of portfolio management, leading a global team covering all of Man Investments’ multi-manager mandates. Prior to this, Anthony Lawler was head of hedge fund research at Man Glenwood, the US alternative investment firm. Before that, he was an equity research analyst at Prudential Securities. Prior to this, he was a manager at venture capital firm, Castling Group. He began his career as an M&A analyst at Merrill Lynch in San Francisco. Anthony Lawler holds an MBA in Finance and Economics from the University of Chicago Booth School of Business, and a BS (highest Honours) in Finance from the University of Illinois. He is based on London.
Gregg Guerin-First Trust Global Portfolios
NameGregg Guerin
Job titleSenior Product Specialist
CompanyFirst Trust Global Portfolios
TitleAlphaDEX® Select Opportunities in the Eurozone: Value and Growth
ContentInvesting in Eurozone equities has been 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.
BiogAt First Trust, Gregg’s responsibilities include introducing IFAs, wealth managers, fund of fund managers and private banks to the firm’s product range while also supporting the firm’s business development progress. Over his 10 years of experience in the ETF marketplace Gregg has regularly presented and educated on “Smart Beta”. Gregg also holds an MBA from the University of Chicago focusing on Finance, Economics, and International Business. While there he studied the Efficient Market Hypothesis, its known anomalies and Behavioural Finance.
Matthew Murphy- Eaton Vance
NameMatthew Murphy
Job titleInstitutional Portfolio Manager
CompanyEaton Vance
TitleEmerging markets local currency debt – investing beyond the benchmark
ContentEaton Vance’s highly successful Emerging Markets Local Income (EMLI) strategy avoids the substantial risk concentration and narrow investment universe of the widely-used JP Morgan Government Bond Index – Emerging Markets (GBI-EM) Global Diversified benchmark by seeking investment opportunities in more than 80 investable local currency markets; far more than the 18 countries represented in the GBI-EM. The EMLI strategy is thus very different from the majority of active EM local income offerings that are largely benchmark constrained and susceptible to the structural flaws of benchmark-based investing in EM. Distinctive features of the Eaton Vance EMLI strategy also include its extensive fundamental, bottom-up, macroeconomic and political research capability and investment approach that disaggregates individual risk factors embedded in a country’s debt with a view to isolating and investing in only the most attractive risk factor/s.
BiogMatthew Murphy is a Vice President of Eaton Vance Management and an institutional portfolio manager on Eaton Vance’s global income team. He is responsible for covering global economic, political and market research. He also serves as a resource for existing and prospective clients, representing the group’s managed strategies and presenting the team’s views on macroeconomic and political developments in the world. He joined Eaton Vance in 2011. Matt began his career in the investment management industry in 2002. Before joining Eaton Vance, he was affiliated with Cambridge Associates, LLC as a consulting associate. He was also affiliated with Matrix Capital Markets Group, Inc. Matt earned a B.S. from the University of Richmond. He is a member of the Boston Security Analysts Society and is a CFA charterholder. He holds the Chartered Alternative Investment Analyst (CAIA) designation. Matt’s commentary has been featured in Reuters and Morningstar, as well as other financial news outlets.
Ruth Nash-JO Hambro
NameRuth Nash
Job titleSenior Fund Manager- JOHCM Japan Dividend Growth Fund and JOHCM Japan Fund
Company J O Hambro Capital Management
TitleDo you know the only thing that gives me pleasure? It’s to see my dividends coming in’ – JOHCM Japan Dividend Growth Fund - looking to profit from Japan’s growing dividend culture
ContentExperienced investors Ruth Nash and co-manager Scott McGlashan target Japan's growing dividend culture with a fund that incorporates a blend of dividend growth and dividend yield and taps into increased demand from Japanese institutional and retail investors for higher-yielding equities. Giving an overview of the current market outlook – as well as an insight into the JOHCM Japan Dividend Growth Fund – Ruth will look to outline why ‘now is the time’ for investors in Japan.
BiogRuth has 32 years' industry experience and joined JOHCM in April 2005. She started her career at Coopers and Lybrand in Edinburgh in 1985, before joining Scottish Equitable Life Assurance’s Japan desk as an analyst. She then joined Royal Insurance as a fund manager. In 1996, she joined Prudential Portfolio Managers as a fund manager and in May 1999 was recruited to manage the Japanese portfolio of the British Steel Pension Fund. She Joined JOHCM in 2005. Ruth holds an MA (Hons) in French/German from the University of St Andrews.
Charudatta Shende-Candriam
NameCharudatta Shende
Job titleSenior Client Portfolio Manager
CompanyCandriam Investors Group
TitleEMD HC: Generating Risk-adjusted returns through a relative value approach
ContentThe EM Debt asset class benefits from improving fundamentals and relatively attractive yields. On the other hand, external factors (such as Fed rate hike) and EM specific risks (such as elections or political instability) are likely to present challenges. This context requires differentiation and a careful selection of instruments within the large and heterogeneous EMD universe. Candriam Bonds Emerging Market implements a unique investment process based on a distinctive “relative value” approach in order to deliver risk-adjusted returns across the EMD HC universe. This time-tested approach combined with an extensive proprietary tool-kit enables the investment team to identify market inefficiencies and selectively pick the best investment opportunities. The investment process also explicitly integrates ESG factors, which are key in determining the long term credit worthiness of EM countries. The portfolio construction and calibration of positions is a function of the convictions generated by the team as well as the disciplined risk framework and strict investment guidelines. The fund is supported by an experienced investment team with specific focus and complementary expertise.
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.
CHARLIE THOMAS
NameCharlie Thomas
Job titleHead of Strategy, Environment & Sustainability
CompanyJupiter Asset Management
TitleA changing landscape: 30 years of impact investment
ContentThe Jupiter ecology strategy was established in 1988, making it one of the first and longest-running environmentally focussed investment strategies in the world. The underlying investment philosophy remains unchanged: to identify long-term investment opportunities in global companies that – at their core – provide solutions to environmental issues. In our opinion, the growing pressure of economic growth on the environment, and the increasingly pivotal role that environmental issues play in global development, mean that this philosophy is more relevant to investors today than ever before.

Charlie Thomas will share his reflections as manager of the strategy since 2003, and share his insights on the key long-term investment implications.
BiogCharlie Thomas joined Jupiter in 2000 and is currently Head of Strategy, Environment and Sustainability. He is the manager of the Jupiter Ecology Fund and the Jupiter Responsible Income Fund (Unit Trusts), as well as institutional assets, the Jupiter Green Investment Trust PLC and the Jupiter Global Ecology Growth fund (SICAV). He is also co-manager of the Jupiter Global Ecology Diversified fund (SICAV). Before joining Jupiter, Charlie spent three years working for BP, first as an environmental policy adviser where he helped develop climate change strategies and sustainable energy policies for the group, and later as a commercial analyst working on new business development. He has also worked for the United Nations Environment Programme as well as other financial institutions. Charlie has an MSc in Environmental Technology from Imperial College, London and a degree from Nottingham University.
Hemant Baijal-Oppenheimer
NameHemant Baijal
Job titleHead of Multi Sector Fixed Income, Portfolio Manager
CompanyOppenheimerFunds
TitleManaging for Asymmetrical Risk in Emerging Market Local Debt
ContentLocally denominated debt securities in emerging markets expose investors to a variety of risks driven by foreign exchange, credit quality, interest rates, macroeconomic conditions, and regional politics. This unique combination of risks, in our view, warrants special emphasis on limiting the downside potential—one that requires manager skill—while wringing value from market exposure to the potential for attractive yields and income. Limiting the Downside—and the Role of the Tracking Error. Toward establishing a discipline of measuring and attaining limited downside potential, we propose looking at one of the most common gauges of volatility—the tracking error1—and putting it in perspective. A portfolio’s tracking error is not an adequate measure of volatility, because it gives equal treatment to the positive and negative differences between a portfolio and its benchmark—even though the former are obviously desirable, whereas the latter are not. For example, a theoretical portfolio that managed to stay roughly flat during a severe downturn would be characterised by a large tracking error on the upside, much to investors’ benefit.
BiogHemant Baijal is Co-Head of the Global Debt Team, Head of Multi-Sector Fixed Income, and a Portfolio Manager of Oppenheimer International Bond Fund, Oppenheimer Emerging Markets Local Debt Fund, Oppenheimer Global Strategic Income Fund, Oppenheimer Global Strategic Income Fund, Oppenheimer Global Strategic Income Fund/VA, and Oppenheimer Global Unconstrained Bond Fund. Prior to joining the firm, Hemant co-founded Six Seasons Global Asset Management, where he served as partner and portfolio manager with a focus on fixed income macro strategies. Before his role at Six Seasons, he was a partner and portfolio manager at Aravali Partners, LLC., where he focused on absolute return and interest rate hedging strategies. Previously, Hemant was a partner and portfolio manager at Havell Capital Management, LLC., where he focused on fixed income macro and relative value fixed income strategies. Earlier in his career, Hemant was a senior portfolio manager for international, global and multi-sector fixed income portfolios at Neuberger Berman. He has also held positions at Banca Di Roma, The First Boston Corporation and Merrill Lynch and Co. Hemant holds a BA from the University of Delhi and his MBA from Columbia University.