Morningstar Investment Conference 2014 November 11-12, 2014, Mumbai

Transcription

1 Investment Conference 2014 November 11-12, 2014, Mumbai Agenda Day 1 09:00 10:00 Registration & Light Refreshments 10:00 10:20 Opening Remarks Haywood Kelly, Head Global research, 10:20 10:40 Inaugural Speech Prashant Saran, Whole Time Member, SEBI 10:40 11:10 Presentation Global Macro-Economic Outlook The World Today The pace of economic growth in the U.S. is steadily rising. Baltic states fear fallout from the Russia-Ukraine crisis. China faces slower growth. Abenomics picks up speed in Japan. Pervasive conflict in the Middle East leads to instability in crude oil prices. We take a look at the global-macro economic outlook and how India is currently positioned. 11:10 11:40 Keynote Address Indian Economy: The Way Forward European economies are faltering. Commodity prices are falling. The IMF has lowered global growth expectations. There are also geopolitical risks. Indian economy seems to be on a recovery path. Political stability has enthused investors and raised hopes. In the current global and domestic context what is the outlook for the Indian economy? An expert shares his views. 11:40 12:00 Tea/Coffee Break 12:00 12:40 Panel Discussion Does Value Investing Work in India? For a few legendary investors, value investing as a strategy has paid off handsomely. In India, it has not gained much traction. Does the Indian market cater specifically to growth investors? Is it difficult to find value stocks in our market? How should one spot a value trap? Industry stalwarts tackle the subject. Andrew Lill, Chief Investment Officer, Asia- Deepak Mohanty, Executive Director, Reserve Bank of India Vikram Kuriyan, Executive Director, Centre of Investment, ISB Bharat Shah, Executive Director, ASK Group Kenneth Andrade, Head - Investments, IDFC AMC Ltd. Parag Parikh, Founder & Chairman, PPFAS AMC Pvt Ltd. Sankaran Naren, Chief Investment Officer, ICICI Prudential AMC Ltd. 1

2 12:40 13:10 Presentation 13:10 14:10 Lunch Break 14:10 14:40 Presentation Equity Corporate Stewardship Ratings s corporate Stewardship Rating represents our assessment of management s stewardship of shareholder capital with a special emphasis on how management's capital allocation decisions have enhanced or eroded the company's competitive position and shareholder value over time. Analysts judge stewardship from an equity holder s perspective and assign one of three stewardship ratings: exemplary, standard, and poor. Fund Rating and Performance Unlike Star Ratings, which are backward looking, Analyst Ratings are forward looking in nature. As an independent research outfit, we therefore understand how important it is to evaluate the accuracy of our ratings over time, in order to gain investor confidence in our rating and rating methodology. This presentation gives an insight into Analyst Ratings and how accurate they have been both domestically as well as globally across time periods. 14:40 15:20 Panel Discussion Mutual Funds A Retirement Solution The US mutual fund industry saw its assets leap after 401K plans were introduced. Target date funds have also gained popularity over the past decade as a way to save for retirement abroad. How is the Indian mutual fund industry looking to tap the retirement market in India? Are there any constraints that prevent the launch of such products in the Indian context which can help investors to plan their retirement better? 15:20 16:00 Panel Discussion Fixed Income: What Next? With interest rates largely flat, fund houses have resorted to high-yield strategies to invest in the corporate bond segment and take exposure down the credit ladder. Debt fund managers will discuss the risk return trade-off in high yield strategies. They will also share their views on the direction of interest rates and how investor portfolios should be positioned going forward. Haywood Kelly, Head Global research, Grant Kennaway, Director - Manager Research, Asia Dhaval Kapadia, Director Investment Advisory, India Andrew Lill, Chief Investment Officer, Asia- Chandresh Kumar Nigam, Managing Director & Chief Executive Officer, Axis AMC Ltd. Harsha Viji, Chief Executive Officer, Sundaram AMC Ltd. Rajesh Krishnamoorthy, Managing Director, ifast Financial India Pvt ltd. Niranjan Risbood, Director Manager Research, India Amandeep Chopra, Group President, Head- Fixed Income, UTI AMC Ltd. Lakshmi Iyer, Chief Investment Officer (Debt) & Head Fixed Income & Products, Kotak AMC Ltd. Maneesh Dangi, Co-Chief Investment Officer Birla Sun Life Asset Management Company Santosh Kamath, Managing Director - Local Asset Management, Fixed Income, Franklin Templeton AMC Ltd. 2

3 16:00 16:20 Tea/Coffee Break 16:20 16:50 Presentation Gold & International Investing Gold as a diversifier seems to have lost the interest of investors. Should gold be written off? On the other hand, investing beyond India has never really taken off. In a growth economy such as India, does it make sense to invest abroad? This presentation takes a look at how such avenues can help an investor achieve diversification and a currency hedge. 16:50 17:30 Panel Discussion Moving Beyond Traditional Assets Does the Indian market lack alternative investment opportunities beyond equity and debt? The discussion here will focus on the commodity market, real estate, private equity and REITs as avenues of investment. 17:30 18:30 Panel Discussion Equity Markets: What s Different This Time? Indian equities have outperformed most emerging markets this year. What is driving the market? What risks can stall or derail this rally? What sectors look promising in such an environment and which are the emerging ones that investors need to watch out for? Equity market experts will discuss these questions. Michael Coop, Head Multi Asset Strategies, Ajay Bagga, Executive Chairman, OPC Asset Solutions Pvt Ltd. Bharat Banka, Senior President, Aditya Birla Group C. Jayaram, Joint Managing Director Kotak Mahindra Bank Limited Karan Bhagat, Managing Director and Chief Executive officer, IIFL Private Wealth Nilesh Shah, Managing Director & Chief Executive Officer, Axis Capital Ltd. Sanjoy Bhattacharyya, Managing Partner, Fortuna Capital Andrew Holland, Chief Executive officer, Ambit Holdings. Madhusudan Kela, Chief Investment Strategist, Reliance Capital Ltd. Nilesh Shah, Managing Director & Chief Executive Officer, Envision Capital 18:30 onwards Cocktails & Dinner Punita Kumar Sinha, Managing Partner, Pacific Paradigm Advisors 3

4 Day 2 Advisor Forum Contd... 09:00 10:00 Registration & Light Refreshments 10:00 10:20 Opening Remarks and Presentation Advisor Workstation Built for productivity, Advisor Workstation supports advisors with a customizable platform for investment research, client and portfolio analytics, sales and planning, powered by intuitive interface, navigation structure and s proprietary data. Enables advisors with risk & need assessment, goal planning, asset allocation, detailed wealth reports and proposals to serve existing clients and generate new business. Aditya Agarwal, Managing Director, India 10:20 10:50 Presentation Challenges of Managing Risks In the words of Sir Arthur Conan Doyle, there is nothing more deceptive than an obvious fact. One such fact is the finance industry s inclination to equate historical return volatility with investment risk. Prospective risk is challenging and there are many factors that should be considered, with historic price variability playing just a minor role. This presentation will highlight how the desire for precision can cause decision makers to ignore qualitative and difficult-to-measure inputs. Key principles for considering risk when constructing client portfolios will also be highlighted. Andrew Lill, Chief Investment Officer, Asia- 10:50 11:30 Panel Discussion Equity: Fund Managers Roundtable The market has been on a roll ever since the elections. Is this just sentiment or things are changing on the ground to support this upmove? With uncertain global macro factors like rising crude oil prices and a sluggish Chinese economy, can the Indian market zoom ahead on its own strength? Fund Managers will discuss these concerns and share the equity market outlook and their investment strategy in this market. Niranjan Risbood, Director Manager Research, India Anoop Bhaskar, Head Equity, UTI AMC Ltd Mahesh Patil, Co-Chief Investment Officer, Birla Sun Life AMC Ltd. Prashant Jain, Executive Director & Chief Investment Officer, HDFC Mutual Fund Sunil Singhania, Chief Investment Officer Equities, Reliance AMC Ltd. 11:30 12:00 Tea/Coffee Break 4

5 12:00 12:30 Presentation Asset Allocation & Portfolio Construction 's asset allocation expert looks at the logic and rationale of combining various asset classes to reduce the overall risk for a given level of expected return. The next logical step of asset allocation is portfolio construction which is more than just creating an efficient frontier. Only if one understands the clients goals can a strategy be devised. Diversification is a key principle embedded in every stage of portfolio construction. And of course, there is also the need for skilled execution. Here an expert shares valuable insights. Michael Coop, Head- Multi Asset Strategies, 12:30 13:00 In the Spotlight 13:00 14:00 Lunch 14:00 14:30 Presentation The Distribution Landscape Traditionally distributors have been an important link between manufacturers and investors. Given low penetration levels in India, they will continue to act as catalysts for financial inclusion. With regulatory emphasis on investor protection, it would be interesting to watch how the distribution landscape evolves. Abhay Aima and Dhaval Kapadia together discuss the scenario. What incentives will drive this segment? Is the need for penetration and protection a double-edged sword? Is there any potential for the coexistence of both, the advisory and distribution model? Advisory Practices in Global Markets Distribution and lack of penetration continues to be a challenge for the asset management industry in India. To accelerate growth, the industry needs to innovate and glean learnings from global counterparts. The session will look at how developed markets have built sustainable advisory models to channelise household savings into mutual funds. Abhay Aima, Group Head - Equities & Private Banking Group, Third Party Products, NRI and International Consumer Business, HDFC Bank Dhaval Kapadia, Director Investment Advisory, India Dean Junkans, Chief Investment Officer, Wealth, Brokerage and Retirement, Wells Fargo & Company 14:30 15:10 Panel Discussion The Advice Gap What do investors expect from their advisers? Are advisers meeting these expectations? If not, how big is this gap between perception and reality? An array of experts from the industry will look at the investors perspective and how advisers can better engage existing and potential clients going ahead. Mona Agarwal, Investment Strategist, India Raghav Iyengar, Executive Vice President & Head Retail & Institutional Business ICICI Prudential AMC Ltd. Rajiv Bajaj, Vice Chairman & Managing Director, Bajaj Capital Ltd. Sandip Ghose, Director- NISM Uma Shashikant, Managing Director, CIEL 15:10 15:30 Tea/Coffee Break 5

6 15:30 16:20 Panel Discussion The Future of Advice 16:20 16:50 Summing It Up Direct plans are motivating individuals to make investment decisions on their own. On the other hand, financial advisers are segmenting clients according to their wealth pool and orphaning those who don t make the grade. What must the revenue model of advisers look like? What tools must an adviser use to add value to the investor? Will technology play a more prominent role going ahead? The discussion will throw clarity on these issues. In an acknowledgement to the efforts of the presenters and panelists, analysts will wrap up the sessions with a concise summary. Attendees who missed out on a session will be in an advantageous position to glean interesting takeaways. 16:50 17:00 Closing Remarks Dhaval Kapadia, Director Investment Advisory, India Ashish Chauhan, Managing Director & Chief Executive Officer, Bombay Stock Exchange Ashish Kehair, Executive Vice President, ICICI Securities Dhruv Mehta, Investment Advisor Rohit Sarin, Founder Partner, Client Associates Sundeep Sikka, Chief Executive Officer, Reliance AMC Ltd. Grant Kennaway, Director - Manager Research, Asia Andrew Lill, Chief Investment Officer, Asia- Michael Coop, Head Multi Asset Strategies, Niranjan Risbood, Director Manager Research, India Agenda and Speakers are subject to change 6

7 7