ASIAN PRIVATE BANKER FUNDS SELECTION NEXUS HONG KONG 2015

Transcription

1 ASIAN PRIVATE BANKER FUNDS SELECTION NEXUS HONG KONG October 2015 JW Marriott, Hong Kong asian private banker FUND MANAGERS KNOWLEDGE PARTNER

2 asian private banker FUNDS SELECTION NEXUS HONG KONG October 2015 JW Marriott, Hong Kong PROGRAMME FUND MANAGERS 8:00-8:55am Registration and coffee 8:55-9:00am Welcome and opening comments Andrew Shale, Publisher Asian Private Banker Room 3024 Room :00-9:45am Session 1 RWC Partners Mercer 9:50-10:30am Session 2 Pioneer Investments RWC Partners 10:35-11:15am Session 3 Eastspring Investments Pioneer Investments 11:20-12:00pm Session 4 M&G Investments Eastspring Investments 12:05-12:45pm Session 5 Mercer M&G Investments 12:50-2:00pm Luncheon and data set conclusions

3 Room 3001 Room 3004 Room 3005 M&G Investments Eastspring Investments Pioneer Investments Mercer M&G Investments Eastspring Investments RWC Partners Mercer M&G Investments Pioneer Investments RWC Partners Mercer Eastspring Investments Pioneer Investments RWC Partners

4 RWC PARTNERS USING ENHANCED DIVIDEND STRATEGIES TO GENERATE A HIGH LEVEL OF INCOME The actions of central banks have successfully driven up asset markets and left investors with very few places that they can generate a reasonable level of income. In a desperate search for yield, many investors have been forced to take on more risk while also sacrificing liquidity. Using covered calls with a large cap, high quality equity strategy is one way that investors can generate an attractive level of income without having to take on significant credit or liquidity risk. The strategy may therefore be used as an alternative or complement to high yield debt and emerging market debt, among other yield seeking asset classes, to minimise the risks inherent in them. The managers of the RWC Global Enhanced Dividend Fund, Ian Lance and John Teahan, discuss how they seek to marry the twin objectives of delivering a generous yield and providing an element of downside protection in what looks like an increasingly challenging environment. SPEAKERS Ian Lance Portfolio Manager Ian joined RWC in August 2010 to launch the RWC Equity Income Team. He was previously senior portfolio manager at Schroders managing 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 he also 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. John Teahan Portfolio Manager John joined RWC in September 2010 to help manage the RWC Equity Income franchise. He previously worked at Schroders, where he co-managed the Schroder Income Maximiser with Nick Purves and Ian Lance and also specialised in trading and managing derivative securities for a range of structured funds until May Previously he worked as a performance and risk analyst for Bank of Ireland Asset Management UK. John is a CFA Charterholder. REPRESENTATIVES Richard Howard Head of Asia Business Development

5 ABOUT RWC PARTNERS RWC is a multi-disciplined, independent investment manager dedicated to the belief that well-defined investment philosophies, experience and a creative environment are essential ingredients for exceptional long-term returns. Our core principle is that fund managers should be unconstrained in their investment approach, focused on real risks and aiming for strong total returns over the long term. This underpins our goal to maintain a sustainable organisation where our clients have the conviction that our interest are served best by meeting their long-term objectives. RWC s culture has become its strength. Our people both define the culture and drive its evolution. Based on simple principles of ethics, quality and enjoyment, our culture underpins the overall organisations health. Our structure provides an environment in which talented managers can focus on delivering performance and clients can expect the highest fiduciary standards. We put clients interest at the very heart of our organisation and believe that a shareholder structure, based on employee ownership, can generate a level of stability and professionalism which is essential to the ongoing strength of a fund management business. In addition, in 2010, Schroders Group acquired a non-controlling participation in RWC s equity, which we believe reinforces both our independence and stability. NOTES

6 EASTSPRING INVESTMENTS ASIAN BONDS: CHALLENGES, OPPORTUNITIES & SOLUTIONS The world is still reeling in the aftermath of China's yuan devaluation and there are market fears abound as all eyes are focused on the pending rise of US and global interest rates as well as China's tough balancing act between growth and structural reforms. Out of this negativity and climate of fear, we view that investment opportunities could still present themselves in the Asian bond markets. Boon Peng discusses these opportunities and examine the benefits of investing in Asian Bonds as a distinct asset class as opposed to the broad Emerging Market bonds. He also covers how Eastspring Investments' award winning team captures opportunities in the Asian bond markets through our Asian bond fund solutions. SPEAKERS Boon Peng Ooi, CFA Chief Investment Officer, Fixed Income Boon Peng Ooi joined Eastspring Investments, the Asian asset management business of Prudential plc, as Chief Investment Officer, Fixed Income, in July He is responsible for overseeing the management of the firm s fixed income strategies. He is also the lead Portfolio Manager for Eastspring s Global Bond, Hong Kong and Japan bond portfolios. Prior to joining Eastspring Investments, Boon Peng was Chief Investment Officer and Executive Director at UOB Asset Management, Alternative Investments, where he was responsible for the business and investment management of CDOs and credit assets. Prior to joining UOB AM, he was Head of Fixed Income at Fullerton Fund Management Company. There, he oversaw the management of fixed income investments in developed and emerging bond markets. Boon Peng also spent 15 years of his career with the Monetary Authority of Singapore (MAS) where he worked in various areas of the Reserves Management Department, including seven years managing funds out of the MAS New York Office. Boon Peng has 28 years of investment experience. In 2014, Boon Peng was conferred the title of IBF Fellow by the Institute of Banking and Finance of Singapore. This honour is aimed at recognising industry veterans who have demonstrated mastery of a profession and exemplify thought leadership and commitment to industry development. He was also named CIO of the Year in Asia Asset Management s Best of the Best Regional Awards Boon Peng holds a Bachelor of Science (Building) degree from National University of Singapore and is a Chartered Financial Analyst. REPRESENTATIVES Koh Hui-Jian Head of Sales, Intermediary Distribution Monique Tse Head of Intermediary Sales, Hong Kong

7 ABOUT EASTSPRING INVESTMENTS Eastspring Investments is a leading asset manager in Asia that manages US$134 billion (as at 30 June 2015) of assets on behalf of institutional and retail clients. Operating in Asia since 1994, Eastspring Investments is the Asian asset management business of Prudential plc1, one of the world's largest financial services companies. We have one of the widest footprints in Asia, with on-the-ground teams of 2,500 employees and more than 250 investment professionals located in 10 major Asian markets as well as offices in the US, Europe and the United Arab Emirates. Our unparalleled knowledge and local insights allow us to deliver unique and tailored opportunities to our clients. We provide investment solutions across a broad range of asset classes including: equities, fixed income, global asset allocation, mezzanine debt, private equity and infrastructure. About two-thirds of all Eastspring funds outperformed their benchmark or achieved peer ranking within the top-two quartiles on a rolling three year period. Our investment teams are specialists in their respective fields, supported by the global resources made available through our relationship with Prudential plc and are committed to acting in the best interests of our clients and delivering optimal investment outcomes over the long term. Eastspring Investments is one of Asia s largest retail fund manager in 2015 according to an annual survey by Asia Asset Management, and was named the Best Asset Management House in Asia in Asia Asset Management s Best of the Best Awards in Eastspring Investments (excluding JV companies) companies are ultimately wholly-owned/indirect subsidiaries/associate of Prudential Plc of the United Kingdom. Eastspring Investments companies (including JVs) and Prudential Plc are not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America. NOTES

8 PIONEER INVESTMENTS ALTERNATIVE SOLUTIONS WITHIN FIXED INCOME INVESTING Is there truth to the view that we can no longer get safe income from developed bond markets? Is there a need for investors to seek alternatives or something different? How should investors think about adding alternatives? Thomas Swaney, Head of Alternative Fixed Income (US) at Pioneer Investment discusses the evolution of fixed income, the lay of the alternative fixed income land and delves into key investor considerations in alternative fixed income investing. SPEAKERS Thomas Swaney Senior Vice President Head of Alternative Fixed Income, U.S. Thomas Swaney is Senior Vice President and Head of Alternative Fixed Income, US He is a member of the investment team in Pioneer Investments Boston office and develops alternative fixed income strategies. Thomas joined Pioneer from J.P. Morgan Asset Management, where he was a Portfolio Manager and member of the Strategic Investment and Operating Committee for J.P. Morgan s Absolute Return & Opportunistic Fixed Income Group. Before joining J.P. Morgan, he was a Portfolio Manager and Head of Corporate Bond Portfolio Management at OFI Institutional Asset Management. Previously, he was a Senior Analyst in the Global Fixed Income Group at Miller Anderson & Sherrerd, LLP (Morgan Stanley). Thomas began his career as an Analyst in the Private Equity Finance Group at CMS Companies. He holds a BS in Accounting from the University of Alabama, an MBA from The Pennsylvania State University, and an MS in Finance from the Kelley School of Business at Indiana University. REPRESENTATIVES Calvin Ng Sales Director, Southeast Asia Wholesale Dawn Foo Regional Head Asia - Global Strategic Partners Group

9 ABOUT PIONEER INVESTMENTS Pioneer Investments was founded in 1928 by legendary investor, Philip L. Carret, who helped establish the modern U.S. mutual fund industry and was an early leader in developing the fund industry in Europe. Being able to look back on a long and rich history distinguishes our company in the industry. While we evolve to keep pace with the changes in the marketplace, our tried and tested investment approach, inspired by the investment philosophy of our founder Philip Carret, has allowed us to face with confidence the downturns and the different phases of the economic cycles of the last 86 years. We are focused on managing risk and aim to deliver attractive return to our investors, who have entrusted us with 219/$247 billion (as of 31 August 2015) of their assets. We are present in 28 countries with over 2,070 people. Our passionate and knowledgeable team, includes nearly 360 investment professionals. Thanks to our extensive network of local investment and marketing offices around the world, we stay closely connected to the communities in which we operate. Our objective is to offer concrete investment solutions that satisfy real investments needs. To ensure an innovative and consistent product strategy at global level, we have three specialised Global Investment Hubs in Dublin, London and Boston. NOTES

10 M&G INVESTMENTS A NEW TOOL FOR INVESTORS TO COMBAT RISING RATE ENVIRONMENT THAT ISN T YOUR TYPICAL BANK LOAN THE HIGH YIELD FLOATING RATE NOTE Now more than ever, investors in the developed world are bracing themselves for the first rate hikes in many years as the US and the UK continue to chip away at unemployment and grow at decent rates. Government bond yields are likely to increase from their multi-decade lows and this will create headwinds for nearly all fixed income assets. M&G will introduce a unique instrument, the high yield floating rate bond, which can overcome these headwinds and actually benefit from rate hikes. This isn t your typical US senior loan and this is a different instrument a plain vanilla floating rate note that is issued by high yield companies. While high yield floating rate notes and bank loans share many similarities, there are some key advantages to invest in floating rate notes, including more certain settlement times and the absence of LIBOR floors. The M&G Global Floating Rate High Yield Fund is managed by our established high yield fund managers who currently oversee USD9 billion of traditional, fixed rate high yield funds. Their expertise has been a key factor in the fund growing to USD800 million a year since its launch. SPEAKERS Jeik Sohn Investment Director Jeik joined M&G in 2009 as a Product Manager focusing on multi asset and alternatives with the Product Development and Management Team in London. He relocated to Asia in 2011 to set up M&G's client servicing and sales offices in Singapore and Hong Kong. He is currently the Investment Director for the Asia Pacific region. Prior to joining M&G, Jeik worked as a research analyst at an art investment index and as a business development manager starting up a Korean conglomerate's North American business. Jeik is a CFA charterholder, has an MBA from London Business School and a BA in Finance and Management from the NYU Stern School of Business. REPRESENTATIVES Ben Cherrington Director, Intermediary Channels, Asia Pacific Anthony Yeung Associate Director, Intermediary Channels, Hong Kong

11 ABOUT M&G INVESTMENTS M&G is one of Europe s largest active asset managers, known for its conviction-led and long-term approach to investing that has been investing on behalf of individual and institutional clients for more than 80 years. Today we manage assets of over US$403 billion (as at 30 June 2015) for clients across Europe and Asia. Our investment edge is in our people. With approximately 1,900 professionals worldwide, 277 of which are dedicated to fund management, we remain at the forefront of investment thinking, constantly seeking to develop our product range to provide the best investment opportunities for our investors. We believe we can deliver the best returns for our clients through active management, developing a deep understanding of the companies whose equities, bonds or property we hold. Fixed Interest The award-winning M&G Fixed Interest team has an enviable track record in managing over US$253 billion of assets. Every member of the fund management team is an expert in their field and their work is complemented by research from our in-house credit analysts one of the leading teams in the investment industry. Equities M&G is among the largest active equity investors in Europe, with over US$94 billion assets under management. We give our fund managers the freedom to back their ideas and support them with rigorous in-house research. We offer an extensive range of equity funds, including portfolios that invest globally, across particular regions and in particular styles. Multi Asset Combining macroeconomic research with behavioural analysis, the M&G Multi Asset team offer investment capabilities and investment styles across all major traditional and alternative asset classes. Our approach marries the global expertise of our investment professionals with sophisticated risk management processes and systems helping us to provide clients with products and services that meet their specific needs. NOTES For more information, please visit

12 INSIGHT SHARING WITH MERCER WEALTH MANAGEMENT INDUSTRY TRENDS - OPPORTUNITIES AND CHALLENGES THAT LIE AHEAD As we look ahead into the near future, what are the challenges and opportunities that wealth managers face? Join Steven Seow, Mercer, in this dialogue session. - How is inter-generational wealth transfer impacting the flow of AUMs into managed investment? - MFO/IFA & Private Banks which is better placed to serve the needs of high networth individuals and families? - How can asset managers and private banks work better together? - Are robo advisers relevant to high networth individuals and families? - Client investment suitability is a key focus for regulators today: how is this impacting the funds advisory/discretionary business? SPEAKERS Steven Seow Head of Wealth Management, Asia Investments With a background in many different aspects of wealth management, Steven Seow was appointed Mercer's head of wealth management in Asia in October Although based in Singapore, he travels extensively to work with the firm's financial institution client base across Asia. Prior to joining Mercer, Steven was director of banking and wealth management at Ernst & Young Advisory in Singapore for just over five years, offering private and retail banks in Asia business advisory services in investment suitability, product development and business operations controls. He has also worked in Citi Private Bank, IBM Business Consulting, PricewaterhouseCoopers Consulting and Odyssey Financial Technologies.

13 ABOUT MERCER Mercer is a global consulting leader in talent, health, retirement and investments. Mercer helps clients around the world advance the health, wealth and performance of their most vital asset their people. Mercer s more than 20,000 employees are based in more than 40 countries and the firm operates in over 130 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global professional services firm offering clients advice and solutions in the areas of risk, strategy and people. With 57,000 employees worldwide and annual revenue exceeding $13 billion, Marsh & McLennan Companies is also the parent company of Marsh, a leader in insurance broking and risk management; Guy Carpenter, a leader in providing risk and reinsurance intermediary services; and Oliver Wyman, a leader in management consulting. For more information, visit Follow Mercer on NOTES

14 NOTES

15

16 asian private