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| | | | | |  08:45 - 09:30 | Registration and Refreshments | | 09:30 - 09:35 | Welcome from PWM - Financial Times | | 09:35 - 09:45 | Chair’s Opening Remarks
Chairman:
Roger Cobley, Chairman, Stamford Associates
| | 09:45 - 10:10 | Keynote Speech: THE CASE FOR SUB-ADVISORY
- Sourcing
and blending managers in multi-manager strategies
- Can the same manager selection criteria be
applied to both large companies and boutiques?
- Finding opportunities in investment boutiques.
Pros and cons of seeding niche managers
- The
dangers of chasing performance. Can active managers resist pressures, live
with short-term underperformance and be consistent in their investment
style?
- Building
trust, monitoring and adjusting expectations over time
Keynote Speaker: Pascal Duval, EMEA Chief Executive Officer, Russell Investments
| | 10:10 - 10:35 | Speech 2 – CHANGING SOLUTIONS FOR “AN UNUSUALLY UNCERTAIN” WORLD
- Policy
challenges to existing asset allocation frameworks: How to survive the next
three to five years
- Market premiums and market correlations are changing: Where to find better Beta
- Changing regime of market liquidity. Managers and distributors need to determine sustainable solutions for investors
- Implications for the sub-advisory world
Speaker:
Emanuele Ravano, Head of Global Wealth Management Team,Europe, PIMCO
| | 10:35 - 11:00 | Speech 3 – SUB-ADVISORY INVESTMENT THEMES
- Meeting
client needs for income in today’s low yield environment
- How
effective are outcome oriented solutions?
- Making
absolute and total return strategies work
- Will
increased regulation drive more hedge fund managers to choose the sub-advisory
route? How will this new development expand the managers’ universe in the
absolute return space in Europe?
Speaker: John
McLaughlin, Head
of Portfolio Solutions,
Schroders
| | 11:00 - 11:20 | Refreshment Break | | 11:20 - 12:05 | Panel 1 – ADAPTING DISTRIBUTION MODELS TO CHANGING REGULATION
- With the Retail Distribution Review in the UK imposing a ban on inducements, other European countries following suit and Mifid regulation moving in the same direction, what will be the implications on the distribution models of private banks and wealth managers?
- Will advice-based fees compensate distributors for the
lost revenue?
- For banks that have asset management capabilities in-house, is creating their own funds and sub-advising assets to external partners an effective way to increase margins? What other strategic options do they have?
- Are sub-advised funds more regulation friendly than off-the-shelf funds for cross border distribution?
- What is the right proposition to meet end client needs?
- How is the growth of sub-advisory going to shape the asset management industry?
Panellists:
Amin Rajan, CEO, Create-Research
Gavin Rankin, Head
of Managed Investments, EMEA, Citi Private Bank
Furio Pietribiasi, Managing Director, Mediolanum Asset Management
Jim Smith, Relationship Management, UK & Ireland Financial Institutions, T. Rowe Price
Moderator: Yuri Bender, Editor-in-chief, PWM
| | 12:05 - 12:30 | Speech 4 – HOW TO ADD VALUE THROUGH SUB-ADVISORY SOLUTIONS IN EUROPE
- Aligning
interest with clients when building sub-advisory solutions
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How different market environments can sustain sub-advisory momentum
- Discussing
areas of battleground and potential barriers
Speaker:
Sergio Trezzi, Managing Director, Head of European Retail Distribution, Invesco Asset Management
| | 12:30 - 12:55 | Speech 5 – BRINGING SUB-ADVISORY TO END INVESTORS
- Business case: Moving from sub-advised multi-manager solutions to individual mandates: explaining the rationale, challenges and opportunities
- White labelling versus co-branded solutions
- Mitigating opportunity costs of developing and maintaining in-house investment capabilities
- Taking advantage of increased transparency and better control on portfolios
Speaker:
Stéphane
Corsaletti, CEO, ABN AMRO Advisors
| | 12:55 - 14:00 | Lunch | | 14:00 - 14:25 | Speech 6 - FINDING THE RIGHT FIT IN STRATEGIC PARTNERSHIPS
- Key criteria for selecting managers in today’s markets and lessons learned from the past
- Scope for strategic partnerships – What works well and what does not
- When and why is exclusivity essential? How to customise (or differentiate) an outsourced solution
- Finding the common ground
between managers’ and distributors’ objectives
Speaker: Magnus
Bjorkman, Head of Partnership Management, SEB Wealth Management
| | 14:25 - 15:10 | Panel 2 – THE RATIONALE FOR SUB-ADVISORY
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When
does sub-advisory make more sense than buying off-the-shelf funds?
- What
asset classes are most suited to sub-advisory, core or niche? How do business
models of the firms determine managers selected and solutions used?
- Bespoke solutions versus clones of flagship
funds. Implications for track-record
- In addition to performance, what services are
sub-advisers expected to deliver to their clients?
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Dispelling
the myth of layered fees in sub-advised funds
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How
to explain sub-advisory to advisers and clients
Panel:
Oliver Gregson, Head of Discretionary Portfolio Management, Barclays
Andrea Lacalamita, Head of Global Products and Strategic Marketing, UniCredit Group
Matt Oomen, Head Distribution, EMEA, BNY Mellon Asset Management
John Ventre, Head of Multi-Manager, Old Mutual Global
Investors
Moderator:
Elisa Trovato, Deputy Editor, PWM
| | 15:10 - 15:35 | Speech 7 – BRANDING IN THE DIGITAL AGE
- The
value of branding in services today
- Delivering
your brand across the right channels in the right way
- Clients,
third parties, risk and reward
- The
future of brands and branding
Speaker:
Rita Clifton, International Branding Expert and Chairman, BrandCap
| | 15:35 - 15:40 | Chair's closing remarks & drinks reception
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