Birmingham Programme & Venue
21st September 2017
Forest of Arden Marriott Hotel & Country Club
09:30 - 10:00 Registration and coffee
10:00 - 10:10 Welcome and introduction - Julian Marr, Editor, Professional Adviser
10:10 - 10:35 Keynote address - Defaqto
Paul Tinkler, Insight Consultant (Funds and DFM)
Multi-asset funds: Choice, complexity and client outcomes
With nearly 800 multi-asset funds available to the UK investor, comprising around 3,000 share classes, the multi-asset landscape offers plenty of choice but, as a result, also brings with it a significant amount of complexity. So how might advisers navigate their way through this? What are the principal factors they should consider to ensure clients obtain the investment outcomes they need and want? In this presentation, Defaqto's Paul Tinkler and Patrick Norwood will discuss how advisers can set about putting the multi-landscape into a more manageable context with a view to identifying the most appropriate solutions for their clients. They will also highlight key questions advisers ought to be putting - not just to fund providers but also to themselves - when assessing the suitability of multi-asset for both their clients and their business.
10:35 - 11:00 Prudential Portfolio Management Group (PPMG)
Mark Riggall, Product Specialist & Andy Brown, Investment Director
Fund: PruFund Growth
The anatomy of a long-term multi-asset investor
Andy Brown and Mark Riggall explain how a long-term investment strategy can ultimately deliver outcomes for your clients. Covering key elements such as:
• Factors that affect long-term asset allocation decisions?
• Using scale to create bespoke solutions and add diversification
• Why can a life fund execute on niche and long-term illiquid opportunities?
• Still a requirement to evaluate short-term opportunities?
• Current themes?
11:00 - 11:25 Seneca Investment Managers
Peter Elston, Chief investment officer
Funds: CF Seneca Diversified Income (Oeic), CF Seneca Diversified Growth(Oeic), The Seneca Global Income & Growth Trust plc (Investment Trust)
The Art and Science of Multi-Asset Investing
All multi-asset funds are essentially aiming to produce good volatility-adjusted returns. And yet there are so many of them, applying many different approaches. With so much choice, how is one able to identify the right fund? In this presentation, Peter will cover all the key aspects of multi-asset investing, both the science and the art. He will look at the impact of rising inflation on investment returns, how to define proper active management, the importance of an investment style, the role of teamwork, applying a consistent and simple approach, asset allocation frameworks, and the current state of the world.
11:25 - 11:40 Q&A with Defaqto, Prudential and Seneca Investment Managers, chaired by Julian Marr
11:40 - 11:55 Coffee & networking
11:55 - 12:20 Fidelity International
Bill McQuaker, Portfolio Manager of the Multi Asset Open range
Fund: Fidelity Multi Asset Open range
The Uncomfortable Equilibrium
Ever since the global financial crisis, the idea of an uncomfortable equilibrium has informed Bill McQuaker's thinking around markets. So far the framework has held good, but he believes it could be a case of more discomfort than equilibrium going forward. To borrow a phrase: The clock is ticking. Find out how he uses a flexible approach to provide a clear outcome in these markets.
12:20 - 12:45 First State Investments
Andrew Harman, Portfolio Manager
Fund: First State Diversified Growth
What is hiding behind diversification? Why do you need to be dynamic, flexible and different.
Throughout most of history, bonds and equities were positively correlated, meaning that they moved up or down together. Considering this, the last twenty years are an anomaly where bonds and equities have been negatively correlated. This made diversification simple and the resulting view of diversification hazardous.
There has always been strong demand for investments that are able to generate reasonably high, sustainable returns and which exhibit low levels of volatility. Investment utopia, right? In today's low return environment, however, it is necessary for investors' expectations to be reset. They need be able to build truly flexible, dynamic and diversified portfolios - without hidden risks.
12:45 - 13:00 Q&A with Fidelity International and First State Investments, chaired by Julian Marr
13:00 - 14:00 Networking buffet lunch