Forest of Arden Marriott Hotel & Country Club
Thursday 1st February 2018

Maxstoke Lane,


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

Richard Romer-Lee, Co-Founder and Managing Director, Square Mile Investment Consulting and Research


Cutting the multi-asset universe down to size

Multi-asset investing has come a long way in a short time. The 2008/09 global financial crisis reinforced the importance of diversification while changes in the regulatory environment and the continuing demise of defined benefit pension schemes have also contributed to the increased demand for multi-asset investment solutions. With a growing number of advisers turning to multi-asset specialists to support their investment advice process, the popularity of this area of the market has soared – as has its size. Within the IA Mixed Investment and Flexible sectors, there are now more than 500 strategies and some £130bn of assets under management. All of which means there is also a huge amount of choice facing anyone looking to select a multi-asset manager. As such, this presentation aims to help advisers break down a still-growing sector into a less daunting prospect, in the process underlining the importance of being clear about funds’ objectives, how they are structured to achieve those objectives and, crucially, the risks investors are exposed to for those objectives to be achieved.

10:35 - 11:00 First State Investments

Fund: First State Diversified Growth
Amalia Nunez, Investment Director, Fixed Income and Multi-Asset Solutions


Objective based investing: the benefits of flexibility

The benefits of flexibility are well know when it comes to health and fitness and other areas of everyday life. Then why is static asset allocation still common within Multi-Asset portfolios?

Fixed allocations to equity and bonds leave investors at the mercy of global markets dynamics where the role of luck tends to be underestimated; especially in the short term. In a continually changing political and economic environment where the amount of global debt is at an all-time high, what happens if interest rates and borrowing costs increase? If equities catch a cold are sovereign bonds going to provide the cough medication?

Within a global multi-asset portfolio there are endless opportunities available to grow and protect capital without relying on fixed allocations and historical correlations. We present our flexible and dynamic approach to building a diversified portfolio that encompasses long-term fundamental asset class valuations and shorter-term opportunities. Our objective based approach address the quandary of how to select the appropriate mix of investments to ensure healthy savings through different economic environments.

11:00 - 11:25 Cazenove Capital


Fund: Cazenove Capital Model Portfolio Service

Caspar Rock, Chief Investment Officer

Building the right portfolio for 2018 

In this presentation Caspar Rock, Chief Investment Officer at Cazenove Capital, will provide you with the latest insight on the key factors that feed into the asset allocation and portfolio construction of their portfolios, with an in-depth look at the economic environment, market valuation, sentiment and risk.

11:25 - 11:40 Q&A with First State Investments & Cazenove Capital

11:40 - 11:55 Coffee & networking

11:55 - 12:20  Baillie Gifford

Fund: Baillie Gifford Multi Asset Growth
Patrick Edwardson, Fund Manager, Baillie Gifford Multi Asset Growth Fund

It's All About The Mix
Ecclesiastes advised Bible readers to “Divide your investments among many places, for you do not know what risks might lie ahead” while cautionary phrases such as “Don’t put all your eggs in one basket” have been regarded as common sense for hundreds of years. There are many funds available now which draw on this basic concept, but huge differences in how different managers invest their funds and construct their portfolios. This presentation will argue the best multi-asset funds invest actively and flexibly across a very wide range of asset classes, resulting in a carefully selected portfolios that are not overly reliant on any one asset class but can still take advantage of the best investment opportunities. Following this approach requires a clear view on valuations and the long-term outlook for different asset classes, as well as an ability to think imaginatively about the world.

12:20 - 12:45
Goldman Sachs Asset Management

Funds: GS Wealthbuilder Multi-Asset Portfolios

GS Global Absolute Return Portfolio

GS Global Income Builder Portfolio 

Jihad Younan, Executive Director

Navigating Market Uncertainty: A Multi-Asset Approach

With a range of traditional markets standing at or near all-time high valuations, and the market cycle now one of the longest in history, investors are increasingly asking themselves what the future holds and where opportunities for generating returns still exist. This session will address ways in which we believe investors can look to navigate market uncertainty by casting the net more broadly, looking deeper within each asset class and reacting faster to market opportunities.

12:45 - 13:10
Orbis Investments

Fund: Orbis OEIC Global Balanced
Ashley Lynn, Analyst

Lions and Tigers and Bonds, Oh My!
Government bonds are risky. That may sound strange, as they've been remarkably stable over the past 30 years. But in that time, their yields have declined and their duration-a measure of risk-has lengthened. Duration represents risk, but in the right circumstances, it can also enhance rewards. By focusing on idiosyncratic opportunities, investors can seek a balance of risk and reward without joining the current bubble in government bonds.

13:10 - 13:30 Q&A with Baillie Gifford, Goldman Sachs Asset Management and Orbis Investments

13:30 - 14:30 Networking buffet lunch

*Please note that the programme is subject to change