DISCRETIONARY PORTFOLIO MANAGEMENT PEER-TO-PEER CONNECT

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1 DISCRETIONARY PORTFOLIO MANAGEMENT PEER-TO-PEER CONNECT November 29, 2016 The Westin, Singapore Conversation Partners Networking Partner

2 S ORY C OUNC I L P ROGA R DV A MIM E Christian Abuide Head of Discretionary Portfolio Management Standard Chartered Bank Jacky Tang Head of Portfolio Management Group Goldman Sachs Pascal Meilland Head of Discretionary Portfolio Management, Asia CA Indosuez Paul Stefansson Head of Client Investment Specialists Funds and Mandate After-sales, IPS, APAC UBS Wealth Management Ranjiv Raman Head of Investments & Treasury Cazenove Capital Management Tuan Huynh Regional Head of Portfolio Management, APAC Deutsche Bank Wei Mei Tan Head of Portfolio Solutions, Asia Pacific Credit Suisse

3 P R OG R A MM E 8:30am 9:00am Registration and Coffee 9:00am 9:05am Opening Comments 9:05am 9:45am Leaders Conversation Panel 1 As markets continue to challenge conventional (or rather traditional) investment assumptions, asset managers and advisors are under pressure to achieve performance. Citi s Business Advisory Services team has conducted extensive and well-read research into the industry, interviewing many participants and ultimately drawing some remarkable conclusions. London-based Robert Crossley, Director of BACS will share key findings from the report including: how the asset management industry is evolving; consequences for products like ETFs gaining popularity; the construction of factor-based portfolios; and disruptive technologies in wealth management and advisory processes. Keynote Speaker: Robert Crossley, EMEA Head of Business Advisory Services, Citi Moderator: Bernard Wai, Managing Director, APAC Head of Private Client Solutions, Citi Conversation Catalysts: Christian Abuide, Head of Discretionary Portfolio Management, Standard Chartered Bank Tuan Huynh, Regional Head of Portfolio Management APAC, Deutsche Bank

4 Breakout Sessions 9:50am 10:25am 10:30am 11:05am 11:10am 11:45am A D C B A D C B A D C B Breakout sessions will be held concurrently in separate rooms. Breakout Session A Innovations in Asset Allocation and Portfolio Construction Investing today is harder than ever. Forward-looking return expectations have become more muted, monetary policy is reaching its outer limits and the impact of politics on global markets has become increasingly difficult to predict. Recent trends indicate that innovation within asset allocation and portfolio construction will be critical drivers of growth as investors seek to achieve their desired outcomes. How can managers benefit from the increase in usage of ETFs within managed portfolios? How can a comprehensive view of risk factors help enhance the portfolio construction process? What are the latest innovative strategies designed to provide complementary exposures to existing allocations? These questions and more will be addressed in this session as BlackRock seeks to provide insights into how discretionary managers can continue to differentiate their platforms within an evolving marketplace. Moderators: Eric Mueller, Product Strategist, Multi-Asset Platform, BlackRock Steven Moeller, Head of Multi-Asset APAC Platform Strategy, BlackRock

5 Breakout Session B Emerging market equities: where do we go from here Emerging market equities have given a strong showing so far this year, outperforming the developed market counterparts for the first time in years. Is this the start of a multi-year rally or just a one-time blip with the help of a commodity price rebound? Will EM companies succumb to a rate hike in the US? Which countries should investors focus on? These questions and more will be discussed in the breakout session Moderator: Jeik Sohn, Investment Director, M&G Investments Breakout Session C Gold: a safe harbour in a perfect monetary storm The effectiveness of quantitative easing is being questioned on an almost daily basis. The purchasing power of paper money is declining and the hunt for yield is making for asset bubbles in the riskier areas of the credit spectrum. Accentuating these phenomena is a perfect storm building in the monetary system that identifies the need for systemic insurance. Excessive credit growth and loose monetary policy, unleashed since 2008, have left the banking system and the public exposed. Yet, despite G20 central bank buying of gold, statistics show Western investor allocations to the yellow metal are at, or near, historic lows. So why are investors cautious about allocating to precious metals, especially when gold has been shown to have a zero correlation with other assets such as bonds and equities? And how important is it to keep a flexible and dynamic allocation, not just to gold, but to silver as well? Moderator: Ned Naylor-Leyland, Fund Manager, Old Mutual Global Investors

6 Breakout Session D Asian Fixed Income in a post-trump World From Brexit to the US elections, this year has been a highly eventful year in which politics played a major market moving role. As the world gets ready for a Trump administration, how will this impact the global risk sentiment, economic growth, and most importantly Asia and the Asian fixed income markets? We also discuss the broad future of monetary policy, which has been at the forefront of policy responses since the financial crisis in 2008, and wonder if the new administration in the US will be a catalyst for the marginalisation of monetary policy and the re-emergence of fiscal policy as a growth driver. Moderator: Omar Slim, Vice President, Portfolio Manager, Fixed Income, PineBridge Investments, Singapore

7 11:50am 12:30pm Leaders Conversation Panel 2 Establishing and developing a discretionary management offering is not an overnight process, but rather one that requires deep planning, foresight and resource. Thus, though private banks are today cognisant of the fact that DPM will be a critical aspect of their business going forward, there is no set blueprint. How should private banks go about assembling and calibrating their discretionary teams and infrastructure, given the institutional context, client needs and market conditions? How is the regulatory environment shaping banks approach to DPM, and what changes are in store? If RMs are not sufficiently equipped or informed to sell DPM, what steps can be taken? This panel will focus on the day-to-day struggle of setting up and operating a discretionary portfolio management offering at a private bank in Asia. Moderator: Richard Otsuki, Senior Reporter, Asian Private Banker Conversation Catalysts: Jacky Tang, Head of Portfolio Management Group Goldman Sachs Pascal Meilland, Head of Discretionary Portfolio Management, Asia, CA Indosuez Paul Stefansson, Head of Client Investment Specialists Funds and Mandate After-sales, IPS, APAC, UBS Wealth Management Ranjiv Raman, Head of Investments & Treasury Cazenove Capital Management Wei Mei Tan, Head of Portfolio Solutions, Asia Pacific Credit Suisse 12:30pm 1:30pm Networking Luncheon

M ODE R ATOR S Bernard Wai Managing Director APAC Head of Private Client Solutions Citi Bernard Wai is a Managing Director and APAC Head of Private Client Solutions, based in Hong Kong.

8 M ODE R ATOR S Bernard Wai Managing Director APAC Head of Private Client Solutions Citi Bernard Wai is a Managing Director and APAC Head of Private Client Solutions, based in Hong Kong. He has served in a variety of capacities in Hong Kong and Tokyo since joining Citi in 2002, including Head of Retail Structured Products Sales and Head of Pan Asian Equity Derivatives and Convertible Bond Sales. The Private Client Solutions business is responsible for the marketing and execution of multi-asset structured solutions for financial intermediaries, including private banks and consumer banks, and their clients. Mr Wai began his career as an equity derivatives salesperson covering hedge funds at Morgan Stanley. He holds a BS in Economics from The Wharton School of the University of Pennsylvania, U.S. Eric Mueller, Director, is a member of BlackRock's Multi-Asset Strategies Group. He is a Product Strategist responsible for representing BlackRock's Multi-Asset platform and investment capabilities to both retail and institutional clients across the Asia-Pacific region. Eric Mueller Product Strategist Multi-Asset Platform BlackRock Prior to his current role, Mr. Mueller served as a Product Strategist for BlackRock's Multi-Asset Income team based in New York. In this role, Mr. Mueller worked alongside portfolio managers and sales teams to support the Multi-Asset Income franchise globally. Prior to joining the Multi-Asset team, Mr. Mueller served as a Product Strategist for BlackRock's Fundamental Equity Group in the US. Mr. Mueller earned a BS degree in business administration in finance from Villanova University in the US. Jeik is the Investment Director for Asia Pacific. He joined M&G in 2009 as a Product Manager focusing on multi asset and alternatives in London. Jeik was relocated to Asia in 2011 to establish M&G's offices in Singapore and Hong Kong. Prior to joining M&G, he worked as a research analyst at an art investment index. Jeik has a MBA from London Business School and BA from the NYU Stern School of Business. Jeik Sohn Investment Director M&G Investments

M ODE R ATOR S Ned joined Old Mutual Global Investors in September 2015.

Having worked for Smith & Williamson Ned founded a dedicated precious metals fund for Cheviot Asset Management in January 2009, investing in gold, silver and the underlying equities.

Omar Slim Vice President Portfolio Manager Fixed Income PineBridge Investments Singapore Prior to joining PineBridge in 2013, Mr.

He started there as a Credit Analyst for Global Active Fixed Income in Montreal, Canada, before being promoted to Senior Portfolio Manager to manage a team investing in the North American credit

9 M ODE R ATOR S Ned joined Old Mutual Global Investors in September He is a well-known figure in the world of gold and silver investing, having over 17 years experience and is a frequent presenter at industry conferences. Having worked for Smith & Williamson Ned founded a dedicated precious metals fund for Cheviot Asset Management in January 2009, investing in gold, silver and the underlying equities. Ned Naylor-Leyland Fund Manager Old Mutual Global Investors Mr. Slim is a portfolio manager within the Asian Fixed Income team, primarily responsible for investing in Asian credit and rates markets. Omar Slim Vice President Portfolio Manager Fixed Income PineBridge Investments Singapore Prior to joining PineBridge in 2013, Mr. Slim was a Senior Portfolio Manager within Asian Fixed Income at State Street Global Advisors in Singapore. He started there as a Credit Analyst for Global Active Fixed Income in Montreal, Canada, before being promoted to Senior Portfolio Manager to manage a team investing in the North American credit markets. In his most recent State Street role, Mr. Slim led the development of the Asian credit investment process in Asia, helped build up their credit coverage and managed local and hard currency Asian Fixed Income portfolios. He also participated in a number of government sponsored policy initiatives to develop and enhance the Asian bond markets, and has been a speaker in various conferences providing insights on the credit markets. Prior to State Street, Mr. Slim was an analyst at BNP Paribas Corporate & Investment Banking for over two years, covering financial analysis and credit evaluation of transactions involving companies from various industries. Mr. Slim holds a Master of Science in Finance from Boston College s Carroll Graduate School of Management. He also attended the Investment Decisions and Behavioral Finance Executive Education program at the Harvard Kennedy School. Mr. Slim is also a CFA charter holder. Robert Crossley EMEA Head of Business Advisory Services Citi Robert Crossley is Citi s EMEA head of Business Advisory Services. His previous roles at Citi include Head of European Interest Rate Strategy, and roles in G10 rates and Global Macro Strategy. Before joining Citi in 2007, Robert worked as a portfolio manager at a hedge fund, asset manager, and a bank. He started his career at a large multinational where he gained extensive experience in FX, treasury, and risk management. Robert graduated in 1994 from Cambridge University, where he studied philosophy.

M ODE R ATOR S Richard joined Asian Private banker in 2012, where he covers a multitude of facets in Asia s private banking industry including asset management capital markets and recruitment.

theory. Steven Moeller, Managing Director, is Head of Multi-Asset APAC Platform Strategy based in Hong Kong. Mr.

10 M ODE R ATOR S Richard joined Asian Private banker in 2012, where he covers a multitude of facets in Asia s private banking industry including asset management capital markets and recruitment. Richard Otsuki Senior Reporter Asian Private Banker Richard graduated from Hong Kong Baptist University with a Bachelors of Arts in English Literature with a specific focus on postmodern literary theory. Steven Moeller, Managing Director, is Head of Multi-Asset APAC Platform Strategy based in Hong Kong. Mr. Moeller has over 28 years of global investment experience and has held a variety of roles in product management, product development and portfolio management. Steven Moeller Head of Multi-Asset APAC Platform Strategy BlackRock Before joining BlackRock in March 2016, Mr. Moeller was with Franklin Templeton since 1999, working in New York, California and Hong Kong. He was most recently head of multi-asset solutions for Asia, where he successfully managed and developed global and locally-managed multi-asset portfolios across the region. He was previously instrumental in building out the firm s global multi-asset capabilities and its global institutional platform. Prior to Franklin Templeton, Mr. Moeller held positions at Fiduciary Trust, PIMCO Advisors (Columbus Circle Investors), Bankers Trust, and Wilshire Associates. As a CFA charter holder, Mr. Moeller earned a BS degree in economics and subsequently an MBA degree in finance and investments from the University of Wisconsin Madison.

CON V E R SATI ON CATA LYSTS Christian joined the financial industry in 1997.

solutions for Private Banking clients worldwide.

11 CON V E R SATI ON CATA LYSTS Christian joined the financial industry in He is based in Singapore and since 2013 has been Head of Portfolio Management at Standard Chartered Bank, where he is responsible for the management and development of discretionary investment solutions for Private Banking clients worldwide. Christian Abuide Head of Discretionary Portfolio Management Standard Chartered Bank Jacky Tang Head of Portfolio Management Group Goldman Sachs Prior to joining Standard Chartered Private Bank, he spent 8 years with Deutsche Bank as portfolio manager, quantitative investment strategist and investment specialist. Earlier in his career, he worked for ING Bank and BBVA and was also a teaching fellow in economics and finance back in his native Argentina. Jacky joined Goldman Sachs Investment Strategy Group (ISG) in 2012 and is currently head of the Portfolio Management Group (PMG) in Asia. He is responsible for the centralized discretionary portfolio management for the ultra-high net worth and institutional clients across Asia. Prior to joining PMG, he was head of the Portfolio Advisory Group in Asia advising clients on strategic asset allocation and tactical investment strategy. Prior to joining the firm, Jacky worked at Credit Suisse, where he was Head of Greater China equity research in their Private Banking and Asset Management division. Prior to that, he was Head of Hong Kong Equity Strategy at Merrill Lynch. Before that, Jacky also worked as an investment strategist at Brevan Howard Asset Management managing an emerging markets hedge fund. Jacky has been an adjunct professor at City University of Hong Kong Department of Economics and Finance and has led a number of workshops in asset allocation. Jacky received his PhD in Economics from Shanghai University of Finance and Economics and master's degree from University of Cambridge.

CON V E R SATI ON CATA LYSTS Pascal Meilland Head of Discretionary Portfolio Management Asia CA Indosuez Pascal has 15 years of experience in Private Banking and asset management.

In 2006, he was seconded to Fortis Private Banking in Hong Kong as Head of Investment Advisory, Asia.

He joined Credit Agricole Suisse in August 2014 as head of discretionary management for Asia, seconded to Singapore.

12 CON V E R SATI ON CATA LYSTS Pascal Meilland Head of Discretionary Portfolio Management Asia CA Indosuez Pascal has 15 years of experience in Private Banking and asset management. He began his career with Banque Fortis Suisse S.A. in Geneva as Senior Portfolio Manager responsible for managing Discretionary Absolute Return mandates. In 2006, he was seconded to Fortis Private Banking in Hong Kong as Head of Investment Advisory, Asia. In 2009, Pascal returned to Switzerland and held senior positions in a Hedge Fund company and a Venture Capital Firm. He joined Credit Agricole Suisse in August 2014 as head of discretionary management for Asia, seconded to Singapore. Pascal holds a degree in economics from the University of Geneva and is a Certified International Investment Analyst (CIIA). Paul Stefansson is currently the Head of Client Investment Specialists (CIS), Funds and Mandates After-sales, IPS, APAC at UBS Wealth Management. He was previously appointed Head of CIS Singapore and, before that, Head of Investment Funds, Hedge Funds and Private Equity Distribution in APAC in July 2014 where he was responsible for the Asia-Pacific locations spanning Hong Kong, Singapore, Taiwan, Japan, Australia and China Paul Stefansson Head of Client Investment Specialists Funds and Mandate After-sales IPS APAC UBS Wealth Management Paul has over 30 years of investment experience as an actuary, analyst, portfolio manager and wealth manager. He joined UBS in 2006 in Products and Services Consulting and was most recently Head of Investment Funds, Hedge Funds and Private Equity for Hong Kong and Singapore. From 2001 to 2006, Paul was the CEO of ipac financial planning, a subsidiary of AXA. Ranjiv Raman has more than 15 years experience in financial markets, having joined Cazenove Capital Management, the wealth management arm of Schroders in 2009 as the Head of Investments and Treasury. Ranjiv Raman Head of Investments & Treasury Cazenove Capital Management Prior to joining Schroders, he was the Head of Investment Advisory for BSI Bank where he spent 3 years managing the bank s ultra-high net worth portfolios. Before that, Ranjiv was a Strategist for Asia at Aberdeen Asset Management from 2001 to Ranjiv has a Bachelor of Business Administration in Finance from the University of Wisconsin and a Master's Degree of Business Administration in Finance, with an emphasis on Financial Engineering, from Thunderbird, the American Graduate School of International Management.

Tuan Huynh Regional Head of Portfolio Management APAC Deutsche Bank Wei Mei Tan Head of Portfolio Solutions Asia Pacific Credit Suisse Tuan started his apprenticeship in 1993 at Deutsche Bank.

13 CON V E R SATI ON CATA LYSTS Tuan Huynh is the Chief Investment Officer and Head of Portfolio Management for Asia Pacific. He is responsible for all discretionary mandates such as multi-asset portfolios, fixed income portfolios and equity portfolios. Tuan Huynh Regional Head of Portfolio Management APAC Deutsche Bank Wei Mei Tan Head of Portfolio Solutions Asia Pacific Credit Suisse Tuan started his apprenticeship in 1993 at Deutsche Bank. Thereafter he studied Business Administration focusing on finance and banks at Düsseldorf University. During this time he had several internships in Germany at Deutsche Bank. After graduation in 1999, he started working as a portfolio manager for private clients at Deutsche Bank in Düsseldorf where he was responsible for benchmark strategies and portfolios with special directives. In April 2004, Tuan moved to Frankfurt and was responsible for benchmark portfolios and investment funds within Private Asset Management (PAM), heading a team of portfolio managers with total assets under management of ca. one billion Euro. He had the responsibility for the investment performance of all benchmark portfolio strategies within Private Asset Management. Wei Mei Tan leads the APAC Portfolio Solutions team at Credit Suisse APAC. She is responsible for a team of portfolio specialists who are focused on the acquisition and retention of multi-asset class discretionary and high conviction advisory portfolio solutions. Wei Mei helps clients across the region to structure their investment portfolios and has extensive experience covering professional clients and sophisticated UHNW investors across 20 countries. She specializes in asset allocation and portfolio construction and has been in the industry for more than 16 years. Prior to joining Credit Suisse Private Banking, Wei Mei was the APAC Head of Mandate Specialists at UBS Wealth Management. She spent 6 years with UBS and built up their sales & distribution platform for discretionary and advisory mandates. Before moving into wealth management, Wei Mei was in investment banking at Credit Suisse and JPMorgan Securities in Hong Kong. In both her roles, she was actively involved in the structuring and distribution of alternative investments and fixed income solutions to institutions and private banks in Asia. Wei Mei started her career at Temasek Holdings where she was a fixed income portfolio manager and conducted due diligence on various types of investments. Wei Mei is a Chartered Financial Analyst (CFA), Chartered Accountant (CA), Chartered Alternative Investment Analyst (CAIA) and Certified Wealth Management Advisor (CWMA). She holds a Bachelor of Accountancy (Honours) from Nanyang Technological University in Singapore and was formerly a Temasek scholar.

DISCRETIONARY PORTFOLIO MANAGEMENT PEER-TO-PEER CONNECT 2015

DISCRETIONARY PORTFOLIO MANAGEMENT PEER-TO-PEER CONNECT 2015 TUESDAY DECEMBER 01, 2015 THE FULLERTON HOTEL PLATINUM SPONSORS GOLD SPONSOR AGENDA December 01, 2015 @ The Fullerton Hotel TIME SESSION 8:30-9:00am