AGENDA EXCHANGE TRADED FORUM TORONTO April 1 st & 2 nd, 2019 Westin Harbour Castle

Transcription

1 AGENDA EXCHANGE TRADED FORUM TORONTO April 1 st & 2 nd, 2019 Westin Harbour Castle Monday, April 1 st TIME SESSION 7:50 Registration/Breakfast/Networking Sponsored by: BMO Global Asset Management 8:20 Opening Remarks - Justin Warren General Manager, Radius Financial Education 8:25 Moderator's Remarks - Pat Bolland Business Media Guru 8:35 Canadian ETF Association Update Pat Dunwoody, Executive Director, Canadian ETF Association (CETFA) Why if ETFs are so wonderful did they take over 25 years to catch on in Canada? Will the trends of 2018 continue? Pat Dunwoody will walk you through the history of ETFs - which were launched in Canada and what the experts believe will happen in the next 10 years and why. 8:45 Normalizing the Abnormal Benjamin Tal, Deputy Chief Economist, CIBC World Markets Inc. The focus will be on the global economy, where we are in the cycle, the trump factor, trade dispute, what it all means for int rates and major currencies, where Canada fits in this puzzle, the bank of Canada policy the dollar, oil... and housing. And what all means to financial markets. 9:35 Factors that Matter - Isolating the Characteristics that are True Drivers of Longterm Performance Joseph F. Hohn, Senior Portfolio Manager & Vice President, Dimensional Fund Advisors LP

2 Joe will offer a unique perspective on the foundations of factor-based investing, how to evaluate factors, and considerations for implementing them into your practice in a costefficient way. 10:15 Networking Break Sponsored by: Canadian ETF Association 10:45 ETF investment was higher than Mutual Fund Investment in Canada for Will this trend continue? Daniel Straus, Ph.D., M.Fin., ETF Research & Strategy, Derivatives & Structured Products, National Bank Financial 2018 was a year of bumps and bruises for investors, but despite the rocky path, ETFs in Canada attracted $20 billion in new assets, with multiple trends contributing to another near-record year of flows. Although the tally falls short of the previous year s gangbuster $26 billion figure, the environment for Canadian ETFs is still in expansion mode, as new providers enter the market in force, launching an ever-widening array of novel investment products. Assets under management crossed the $150 billion milestone in 2018, finishing at $157 billion despite late-year price declines brought on by the stock market correction. In this session, we will take a tour of the trends that have shaped the ETF industry in Canada thus far, with a discussion on the risks and rewards that lie ahead. Topics covered include: Banks, boutiques, and the businesses in between: the Cambrian explosion of Canadian ETF Providers Reading the fund flow tea leaves: where is the money going, and why Fee wars, thematic investing, active management, and risks both real and imagined 11:20 Interview: Gold as a Strategic Asset Class Moderator: Bobby Eng, Vice President, Head of SPDR ETFS Canada, State Street Global Advisors Juan Carlos Artigas, Director, Investment Research, World Gold Council George Milling-Stanley, Vice President, Head of Gold Strategy, State Street Global Advisors This expert panel discussion will review why and how you should consider an allocation in gold in your clients portfolios. Our experts will highlight: The strategic case for gold and the outlook for 2019 Gold s long term performance versus traditional asset classes How investors are incorporating gold into their portfolios today Improving risk adjusted returns in volatile markets

3 Regulatory effect on asset allocation 12:00 Lunch/Networking Sponsored by: Manulife Investments 1:00 Fixed Income isn t Working Like it Used to Ahmed Farooq, Vice President, ETF Business Development, Franklin Templeton Investments Canada As we enter 2019, there has been a lot to think about - Will central banks continue to tighten? Will inflation finally show itself? How much will economic growth slow, and what will be the impact of trade policy and geopolitical uncertainties? Regulatory environment? Fixed income is no longer that income generating safe haven part of the portfolio. These macroeconomic shifts have introduced new challenges, considerations, and uncertainty, resulting in many advisors making a large shift from passive into active management to help them navigate this increasingly complex terrain. Join us for a thoughtful discussion by Ahmed Farooq, as he discusses the challenges on the horizon and why he believes an active approach to fixed income exposures may be the most prudent approach in this evolving landscape 1:40 The Rise of Artificial Intelligence in Asset Management: Skill vs. Luck, Who should charge fees? Professor Raphael Douady, Robert Frey Endowed Chair for Quantitative Finance, Stony Brooke University and Fellow of the Economic Centre of Sorbonne The 21st Century has witnessed a rapid evolution of artificial intelligence and quantitative techniques in all industries; particularly finance. This presents both immense hope and a procession of accompanying dangers. In this presentation, we shall present a birds-eye view of: New developments in data science: base principles behind machine learning and neutral networks and how they are used in the asset management industry The challenges of risk management: what to expect, what to fear "True Alpha" and the assessment of fees fairness Approaches for manager selection and the question of distinguishing skill from luck 2:20 Investing in High-Tech Achievement Dr. Nick Bontis, Ph.D., Director, Harvest Portfolios Group Inc.

4 Ignoring the lightning speed of digital transformation is the single most damaging threat to your clients' investment portfolio. But, it doesn't have to be this way. Why not leadershift this threat into a sustainable competitive advantage for you and your clients? Find out why investing in high-tech achievement is a prudent long-term approach. During this enlightening and action-packed keynote presentation you will learn how to: discover emerging opportunities from disruptive technologies invest in the digital age using ETF's connect with the millennial investor work smarter, instead of harder and for your clients' benefit determine what advisory action you can take tomorrow 3:00 Networking Break Sponsored by: Mackenzie Investments 3:20 Towards a New Paradigm of Company Valuation D. Tony Mahabir, President of CIFA, Chairman & CEO, Canfin Financial Group of Companies The challenge for any present-market pricing of firm value is whether or not nominal market prices are correct indicators of future performance and long-term sustainability. For such pricing to more reliably represent the long-term prospects of a firm, those factors which contribute to or detract from sustainability must be included in the calculation of price. This presentation establishes a baseline of current practice in valuation and points the way with reason and insight towards a new sophistication in assessment of firm prospects. Going forward, this is quite in keeping with the needs of a sustainable global capitalism. In light of the United Nations Sustainable Development Goals (SDGs) companies, governments and investors alike want to understand both the positive and negative externalities inherent in companies business models and how their products, services and operations contribute to, or detract from, the achievement of the SDGs. At CIFA, we hope to present awareness to all stakeholders in order to influence and bring about a new paradigm and improved metrics for company valuation. 4:00 Panel: Women and Wealth - Why you need women on your advisory team and how you can get more women clients Moderator: Pat Dunwoody, Executive Director, Canadian ETF Association (CETFA) Tammy Cash, Executive Vice-President and Head of Marketing, Horizons ETFs Management (Canada) Inc.

5 Martine A. Celej, VP & Director - Investment Advisor, RBC Wealth Management Deborah Frame, President & CIO, Frame Global Asset Management Mary Hagerman, Portfolio Manager, Desjardins Wealth Management Securities There is a lot of research that points to the fact that not only will the majority of wives will outlive their spouses there is a 70% chance that they will then leave their financial planner. Find out how to keep them as clients and grow your business. 4:40 Panel: ETF Toronto CEO Roundtable Moderator: Pat Bolland, Media Consultant Kathy Bock, Head of Vanguard Americas and Managing Director, Vanguard Canada Christopher Doll, Vice-President, ETF Sales & Strategy, Invesco Kevin Gopaul, Head, BMO Global Asset Management Canada, Global Head of ETFs and Chief Investment Officer, BMO Global Asset Management Duane W. Green, President and Chief Executive Officer Franklin Templeton Investments Canada Leading CEOs discuss a wide range of areas: Current views on the ETF Market both in Canada and Globally Future of the ETF Market The greatest opportunities and challenges facing ETF issuers Distribution of ETFs in Canada Servicing the clients: Has it changed? What's in store for the future? Regulatory risks Priorities within their respective firms 5:30 Closing Remarks 5:30-7:00 Networking Reception Sponsored by: STOXX Ltd. Tuesday, April 2 nd TIME SESSION

6 7:40 Breakfast/Networking Sponsored by: State Street Global Advisors 8:10 Moderator's First Day Recap 8:20 Panel: Economic Impact in the New Global Order for Investing Moderator: Pat Bolland, Media Consultant Brett House, Vice-President and Deputy Chief Economist, Scotiabank Brian Lewis, Chief Economist and Assistant Deputy Minister, Office of Economic Policy (OEP), Ontario Ministry of Finance Leading economists discuss wide ranging issues facing the Canadian, U.S. and Global economies, policies and regulations. 8:50 How the use of ETFs is evolving Deborah Fuhr, Managing Partner & Co-founder, ETFGI Discussion of product trends Investor trends Distribution trends 9:15 Thematic investing: Systematically Capturing Megatrends Christoph Gackstatter, Senior Product Developer, STOXX Megatrends seismic macro-level structural changes are transformative forces that have a major impact on both businesses and societies globally. Such transformative forces present investment opportunities, which in recent times has gained momentum in the form of thematic investing. STOXX has identified a few themes that are already disrupting or likely to disrupt our modern world. We ll discuss an innovative, systematic and rules-based approach to identify the likely beneficiaries from the materialization of such themes and regulatory impact. 9:55 Panel: Market Makers' Role in Setting ETF Pricing Moderator: Pat Bolland, Media Consultant Roger Chandhok, Director, Equity Derivatives, ETF Sales & Trading, National Bank Financial Group Camilo Gil, Executive Director, Institutional ETF Services, Global Markets, CIBC Capital Markets

7 Canada's market makers will discuss the latest trends in their role to work closely with Advisors, ETF issuer, exchanges and regulators every day. The panel will also focus on how Advisors relationships with market makers can benefit their clients in minimizing transaction costs and improving liquidity. 10:25 Networking Break Sponsored by: First Trust Portfolios Canada 10:50 Panel: Defensive Strategies and Hedging Strategies Using ETFs Moderator: Pat Bolland, Media Consultant Karl Cheong, Head of Distribution, First Trust Portfolios Canada Michael Kovacs, President & Chief Executive Officer, Harvest Portfolios Group Inc. Chris McHaney, Director, Portfolio Manager, Exchange Traded Funds, BMO Asset Management Inc. It's not a secret that prudent investors and shrewd traders are using ETFs for their ease of use, transparency and liquidity. ETFs can do a lot more to help improve a portfolio's risk-adjusted returns. This session will educate Advisors on effective ETF hedging vehicles. Asset class hedging, currency hedging, stock hedging, inflation hedging, regulatory impact and more... 11:30 Shift from active to passive investing. Have we reached a tipping point? Robert DeRochie, Sr. Vice President, Client Portfolio Manager - Fixed Income, First Trust Portfolios L.P. Deborah Fuhr, Managing Partner & Co-founder, ETFGI Michael Keaveney, Director of Investment Management, Morningstar Associates Inc. Investors and analysts have been debating the "Active" versus "Passive" investing approaches for long time. Research from quantitative models suggests that combined active and passive investing can outperform all-active and all-passive approaches. This session will take a closer look at the factors, market conditions and regulatory impact which allows both approaches to coexist in you clients' portfolios. 12:00 Lunch Sponsored by: Franklin Templeton Investments 1:00 Panel: Deep Dive into Factor-Based ETF Investing

8 Moderator: Pat Bolland, Media Consultant Vishal Bhatia, Director, Portfolio Manager, Exchange Traded Funds, BMO Global Asset Management Robin Thompson, Relationship Director, Financial Advisor Services, Dimensional Fund Advisors Jeff Weniger, Director, Asset Allocation, WisdomTree Asset Management, Inc. Evaluating factor-based investment strategies How to use factors to create a well-diversified portfolio and capture potential excess returns and reduce portfolio risk. A closer look at the factors: momentum, growth, value, small size and low volatility/smart beta. Pitfalls of investing in factor based ETF strategies: size limitation, regulatory & suitability concerns etc. Impact on client suitability using factors How data and technology have enhanced the use of factor-based investing 1:40 Institutional ETF Trends Mark Webster, Director, ETF Sales, Institutional Sales & Service, Western Canada, Bank of Montreal Global Asset Management What strategies are Institutions implementing? Are they suitable for Advisors and their clients and how do they implement them? The Smart Money moves first. Mark Webster speaks to the most topical use cases for ETFs by intuitional investors, delving into manager search trends, asset classes, and tactical strategies being used by Canada s largest money managers. 2:10 Using ETFs in Your Client's Retirement Strategy Anthony Chouinard, Vice President, ETFs, Ontario, Mackenzie Investments Using ETFs to build an investment portfolio for your clients retirement strategies is a simple way to provide solutions offering low cost and broad diversification. Since there are virtually exchange traded funds that cover almost every segment of the market, how exactly should you select products to build comprehensive, long-term retirement investment strategies? Learn how you can help build client portfolios to create optimal outcomes using ETFs in strategic and tactical asset allocation decisions. 2:40 Networking Break Sponsored by: CIFP Retirement Institute

9 3:00 Hiring & Firing Investment Managers: What Institutional Investors Look For Benjamin M. Lavine, CFA, Chief Investment Officer, 3D Asset Management Paul Kovarsky, CFA, Director of Institutional Partnerships, CFA Institute Selection, hiring and firing of managers is the most important part of the investment process, and can often be the difference between taking your business to the next level of growing your assets and profits, or continuing to muddle along. The challenge remains: How do you get noticed by institutions, private wealth and endowments? 3:50 Panel: ETF Strategists Role in Canada Moderator: Mark Yamada, President & CEO, PŮR Investing Susanne Alexandor, Vice President, Client Portfolio Manager, Cougar Global Investments Robert Duncan, SVP Institutional Strategy & Portfolio Manager, Forstrong Global Stephen Lingard, Senior Portfolio Manager, Head of Investment Research, CI Multi- Asset Management Steven Shepherd, Vice President, Portfolio Manager, Asset Allocation, BMO Asset Management Inc. Portfolio construction is an increasingly critical consideration. With all Canadian banks now sponsoring ETFs and with deals like ishares/rbc making headlines, the competition for ETF portfolio construction is heating up. This comes at a good time for advisors as shrinking product shelves prompted by rigorous KYC and KYP rules encourage use of models for better client fit. Learn from leading ETF strategists: 1. How advisors can align practice management by using model portfolios. 2. How different aspects of asset allocation, risk, style, factor and issue selection impact portfolios. 3. How to select appropriate ETFs. 4. How to differentiate between independent and single-source strategists. 5. New trends impacting the market for ETFs, models and advice. 4:30 KEYNOTE PRESENTATION Dr. Joe MacInnis, Member of the Titanic Discovery Team Joe MacInnis is a medical doctor, explorer, and storyteller who studies leadership and teamwork in life-threatening environments from the deep ocean to outer space. His pioneering research on undersea science and engineering projects earned him his nation s highest honour the Order of Canada. He s led thirty expeditions under the Atlantic, Pacific and Arctic Oceans including the first team of scientists to dive under the ice at the North Pole.

10 Dr. Joe s presentations distill what he s learned from a decorated career in high-risk environments with a focus on creating hyper-effective teams by sharing principles of deep leadership and team genius. 5:30 Closing Remarks