Conference 2012 - Resources Kit

For the first time in generations, we’re in a new investment regime, where new rules apply. Investment markets are likely to produce modest real returns with significant volatility for the next decade or more and certainly compared to the past – meaning investor expectations and needs will be much harder to meet. Different (and difficult) times call for different approaches to portfolio construction. We need to be tHiNkInG oUtSiDe ThE bOx. Conference 2012 facilitated debate on portfolio construction “2.0” to help meet the challenge of building better quality investor portfolios in the new regime.

This Resources Kit will contain all of the videos, presentations, podcasts and papers from the the jam-packed, marathon, three-day, 25-hour program featuring 40 intensive, objective, interactive sessions and more than 50 local and international portfolio construction experts.

 

Quicklinks

Day 1: Masterclass Resources
Day 2&3: Critical Issues Forum & Due Diligence Forum Resources

Conference Resources Kit Handbook >

 

Day 1:  Masterclass

Theme
 

Thinking outside the box about… portfolio construction in practice
How to implement contemporary approaches to portfolio construction into a financial planning practice in a post GFC, post FOFA world, using case studies and discussion.

Overview
 

The Conference Masterclass is an 8-hour, classroom/workshop-style program presented by selected subject matter experts. The emphasis is on an active-learning environment featuring small, high-quality peer group interaction where in-depth Socratic debate and active discussion is expected!.

Briefing 1
 

Strategies
Moving to proactive asset allocation approach

Many practitioners want to manage their clients’ asset allocation more proactively (not tactically!) but find the implementation issues confusing. In many cases, they are actually far more easily addressed than most advisers assume. Tim discusses how his clients have addressed the issues around implementing a proactive asset allocation approach.

Presenter:
-
Tim Farrelly, Principal, farrelly's Investment Strategy


Resources

Case Study 1
 

Strategies, Investing
Evolution of a wealth management firm

With few exceptions, the financial community practices buy and hold investing with investors told to be patient and wait out any storms. Michael discusses his Washington DC-based firm's proprietary method for investing that combines portfolio diversification of traditional investing with active portfolio management, to ensure client's financial goals are met.

Presenter:
- Michael Kitces, Partner/Head of Rsh, Pinnacle Advisory (Washington DC)


Resources

Case Study 2
 

Investing
Developing a scalable, efficient advice proposition

Developing a scalable and efficient advice proposition means transforming every aspect of the business – from client communication, compliance, staffing and profitability. Santi shares the pitfalls his firm encountered along the way, the steps required to do it yourself and why a scalable advice proposition in the future will be the key component of successful practices.

Presenter:
- Santi Burridge, CEO & Director, Implemented Portfolios


Resources

Due Diligence Forum 1
 

Strategies, Investing
Defensive investing

Defensive portfolios face two permanent risks – interest rate risk and inflation risk. Managing these should be the highest priority of any defensive portfolio. This session focused on how to design and implement a contemporary defensive portfolio build around a mix of three types of assets – inflation-linked bonds, fixed rate instruments and floating rate securities - as well as exploring the best way to implement these assets into portfolios.

Presenters:
- Doug Turek, Managing Director, Professional Wealth
- Jonathan Howie, Director, iShares Capital Markets


Resources

Briefing 2
 

Strategies
Servicing SMSF members with strategy support

SMSF members have the confidence and preference for control to direct their own investment strategy and investment selection. Advisers who wish to attract HNW clients must provide a viable and effective value proposition to SMSF members - and that may mean developing a new advice framework to match their motivations. This session looked at opportunities to service SMSFs by offering predominantly strategic advice to cater for the different phases of SMSFs and their members.

Presenters:
- Assyat David, Director, Strategy Steps


Resources

Due Diligence Forum 2
 

Strategies, Investing
Best practice portfolio management

What does best practice asset management look like from an adviser's perspective? This session reviewed various ways to implement - DIY, outsource, partnership, models, fees, unit trust, IMA/SMA - and discussed the 3Ps of portfolio management, as well as decision-making process and implementation issues, including robust risk management.

Presenters:
-
Andrew Fairweather, CEO, Select Asset Management
- Dominic McCormick, CIO, Select Asset Management


Resources

Case Study 3
 

Strategies, Investing
Delivering efficient, equitable portfolio client solutions

Managing client portfolios in uncertain times requires a comprehensive review of how to translate portfolio and investment ideas into real solutions for clients. This session gave an insight into how one privately-owned and self- licensed advice firm transformed itself to ensure a win-win solution for both clients and the business. It walked through the process undertaken, the questions to be addressed, and the motivation to undertake such a project.

Presenters:
- Phillip Win, MD & Senior Financial Planner, Profile Financial Services


Resources

Key takeouts
 

Strategies, Investing
Conference Masterclass 2012 key takeouts

This session determined the key takeouts from the day's program, and actions to take when building investor portfolios.

Expert Panel:
- Tim Farrelly, Principal, farrelly's
- Michael Kitces, Partner/Head of Rsh, Pinnacle Advisory (Washington DC)
- Assyat David, Director, Strategy Steps


Resources

 

Day 2 & 3:  Critical Issues Forum & Due Diligence Forum

Theme & Overview
 

Thinking outside the box about portfolio constuction
Conference 2012 facilitated debate on portfolio construction “2.0” to help delegates meet the challenge of building better quality investor portfolios in the new regime.

The main two-day Conference program features the 10-hour, plenary style Critical Issues Forum featuring more than 20 leading investment thinkers from around the world, and the 4-hour Due Diligence Forum electives program featuring 20 more international and local investment experts.

Video Thought Pieces

In these video thought pieces, each prepared exclusively for Conference, leading global investment experts share their thoughts on the challenge of tHiNkInG oUtSiDe ThE bOx about constructing portfolios.

 
 

- Cliff Asness, Founding Principal, AQR Capital Management (Greenwich)

Thought piece

 

- Dr Woody Brock, President, Strategic Economic Decisions (New York)

Thought piece

 

- Anthony Bolton, President Inv, Fidelity Worldwide Investments (HK)

Thought piece

 

- Alan Brown, Senior Adviser, Schroders (London)

Thought piece

 

- Hamish Douglass, Managing Director, Magellan Financial Group (Sydney)

Thought piece

 

- Prof Jack Gray, University of Technology (Sydney)

Thought piece

 

- Bill Gross, Managing Director, PIMCO (Newport Beach)

Thought piece

 

- Michael Hasenstab, Co-Dir Intl Bonds, Franklin Templeton (San Mateo)

Thought piece

 

- Steven Helmarick, Colonial First State Global Asset Management (Sydney)

Thought piece

 

- Prof Toby Moskowitz, University of Chicago (Chicago)

Thought piece

 

- Prof Amin Rajan, University of Oxford (London)

Thought piece

 

- Dr Joanne Warner, Colonial First State Global Asset Management (Sydney)

Thought piece

 

- Steven Johnson, 'Where Good Ideas Come From'

Thought piece

Critical Issues
Forum 1
 

Markets
Thinking outside the box... about the global economy and markets

We're confronting unprecedented political risk, debt, and economic restructuring around the world. This 2012 Conference session debated the key market and economic risks and opportunities going forward - and, of course, the portfolio construction implications.

Presenters and Expert Panel:
- David Hale, David Hale Global Economics (Chicago) - brought to you by
   RARE Infrastructure
- Vimal Gor, Head Inc & Fixed Interest, BT Investment Management (Sydney)
- Ian Link, Partner & Equity PM, Wellington Management Co (London) - brought
   to you by Perpetual
- Ramin Toloui, Global Head of EM Portfolio Management, PIMCO (Singapore)
- Chris Watling, CEO & Chief Market Strategist, Longview Economics (London)


Resources

Due Diligence
Forum 1

Investing | Debt
Flight to safety… sure, but where do you land?
- Vimal Gor, Head of Income & Fixed Interest, BT Investment Management


Resources

 

Investing | Australian Equities
After tax investing - why it matters now, more than ever
- Andrew Sisson, Managing Director, Balanced Equity Management - brought
   to you by Franklin Templeton


Resources

 

Investing | Global Equities
Equity income - meeting objectives in a deleveraging cycle
- Tim McGowen, Portfolio Manager, PM Capital - brought to by Zurich
   Financial Services


Resources

 

Investing | Multi asset class
An investment strategy for the information age
- Caroline Saunders, Director, Funds and Advisory, Barclays


Resources

 

Investing | Undiscovered Fund
BlackRock Australian Equity Absolute Return Fund
- Matt Olsen, Head of Ratings, van Eyk
- Michael McCorry, Managing Director, BlackRock


Resources

Due Diligence
Forum 2

Investing | Debt
EM bonds - retirement income of the future?
- Ramin Toloui, Global Co-head of EM Portfolio Management, PIMCO


Resources

 

Investing | Australian Equities
Death, taxes and managed funds - in search of elusive yield
- Dr Don Hamson, Managing Director, Plato Investment Management
   - brought to you by Pinnacle Investment Management


Resources

 

Investing | Global Equities
Do dividends matter globally?
- Ian Link, Director, Partner & Equity Portfolio Manager, Wellington
   Management Company - brought to you by Perpetual


Resources

 

Investing | Alternatives
An alternative approach to portfolio construction
- John Wareham, Chief Commercial Officer, Aspect Capital - brought to you
   by Colonial First State


Resources

 

Investing | Undiscovered Fund
Undiscovered Fund: Goldman Sachs Australian Equities
- Duncan Knight, Senior Investment Analyst, Lonsec
- Mark O'Neill, Executive Director, Goldman Sachs Asset Management
- Philip Gardner, Managing Director, Goldman Sachs Asset Management


Resources

Critical Issues
Forum 2

Markets, Strategies
I've been thinking outside the box... about portfolio risk

Traditional approaches to managing investment risk have not served investors well. This 2012 Conference session showed that major risk events occur in clusters, and focused on how to prioritise risk to achieve better investment decisions.

Presenters and Expert Panel:
- Nick Bullman, Founder & MD, CheckRisk (London)
- Piers Bolger, Head of Rsh & Strategy (Advice), BT Financial Group (Sydney)
- Greg Cooper, CEO, Schroder Investment Management Australia (Sydney)
- Michael Kitces, Partner/Head of Rsh, Pinnacle Advisory (Washington DC)
- Tim Farrelly, Principal, farrelly's Investment Strategy (Sydney)


Resources

Critical Issues
Forum 3

Strategies
I've been thinking outside the box... about PortfolioConstruction 2.0

MPT is not broken, it has just been (badly) misapplied for the past 60 years. This 2012 Conference session argued that appropriate use of MPT requires forward-looking projections - and there are numerous factors to use to determine those - and can lead to more efficient risk/return trade-offs.

Presenters and Expert Panel:
- Michael Kitces, Partner/Head of Rsh, Pinnacle Advisory (Washington DC)
- Nick Bullman, Founder & MD, CheckRisk (London)
- Tim Farrelly, Principal, farrelly's Investment Strategy (Sydney)
- Greg Cooper, CEO, Schroder Investment Management Australia (Sydney)
- Piers Bolger, Head of Rsh & Strategy (Advice), BT Financial Group (Sydney)


Resources

Critical Issues
Forum 4
 

Markets | Strategies
I've been thinking outside the box... about geopolitics and the investment implications

The most important geopolitical considerations are the impending leadership change in China and its effect on China's policies, and the political and economic challenges created by the US and European debt crises. This 2012 Conference session debated these issues and the implications for portfolio construction.

Presenters and Expert Panel:
- The Hon. Dr Pippa Malmgren, Principalis Asset Management (London)
- Linda Jakobson, Director East Asia Program, The Lowy Institute (Sydney)
- Chris Watling, CEO & Chief Market Strategist, Longview Economics (London)
- Nick Bratt, MD, Lazard Asset Management (New York) - brought to you by
   Zurich Financial Services
- Luis Freitas de Oliveira, Director, Capital International (Geneva)
- Eng Teck Tan, Investment Mgr, Treasury Asia Asset Management (Singapore)


Resources

Due Diligence
Forum 3

Investing | Property
It's safe to go back in the water but stay inside the flags
- John Taylor, Fund Manager Centuria Property Funds


Resources

 

Investing | Australian Equities
4 key indicators of an “outside the box” investment manager
- Dr Simon Marais,MD, PM & Head of Australia Equities, Allan Gray


Resources

 

Investing | Global Equities
Emerging markets as a single asset class
- Luis Freitas de Oliveira, Director, Capital International - brought to you by
   Pinnacle Investment Management


Resources

 

Investing | Asian Equities
Is Asia in crisis or is it buying opportunity?
- Eng Teck Tan, Investment Manager, Treasury Asia Asset Management


Resources

 

Investing | Undiscovered Fund
Undiscovered Fund: Bennelong Ex-20 Australian Equities Fund
- Richard Cahill, Senior Associate, Mercer
- Paul Cuddy, CEO, Bennelong Australian Equity Partners


Resources

Due Diligence
Forum 4

Investing | Debt
The tyranny of the present
- Victor Rodriguez, Head of Fixed Income Au, Aberdeen Asset Management


Resources

 

Investing | Australian Equities
The risk management dilemma – you can’t eat relative returns
- Rhett Kessler, Fund Manager, Pengana Capital - brought to you by nabInvest


Resources

 

Investing | Global Equities
Portfolio management in an age of creative destruction
- Chris Selth, CIO & Lead Portfolio Manager, Five Oceans Asset Management
   brought to you by Fidante


Resources

 

Investing | Alternatives
Deconstructing the portfolio construction challenge
- Samuel Mann, Managing Director, K2 Advisors - brought to you by Ironbark
   Asset Management


Resources

 

Investing | Undiscovered Fund
RARE Emerging Markets Fund
- David Wright, Partner, Zenith
- Charles Hamieh, Portfolio Manager, RARE Infrastructure


Resources

Critical Issues
Forum 5

Markets | Strategies
I've been thinking outside the box... about allocations to international equities

Signs that the US secular equity bear cycle is nearing its end are growing clearer, implying both a stronger US dollar and that the commodity super cycle is nearing its end. China is also under pressure and, on a 100-year view, Australia appears to be in a housing price bubble. Taken together, this challenges a strong home bias to Australian equities in portfolios.

Presenter:
- Chris Watling, CEO & Chief Market Strategist, Longview Economics (London)


Resources
 

Critical Issues
Forum 6

Markets | Strategies | Investing
I've been thinking outside the box... about thinking outside the box

It's only by defining the box that you are able to begin to think outside it. In other words, we need to identify the assumptions underlying the way we build portfolios, and then challenge ourselves to think differently about each one. Tim will discuss seven areas where thinking outside the box may lead us to different portfolio construction decisions.

Presenter:
- Tim Farrelly, Principal, farrelly's Investment Strategy (Sydney)


Resources

Critical Issues
Forum 7

Markets | Strategies | Investing
I've been thinking outside the box... about the key takeouts
All of the Critical Issues Forum sessions are building blocks for this session which ensures delegates determine their key takeouts, and actions to take when building investor portfolios.

Expert panel:
- Chris Watling, CEO & Chief Market Strategist, Longview Economics (London)
- Tim Farrelly, Principal, farrelly's Investment Strategy (Sydney)
- Michael Kitces, Partner/Head of Rsh, Pinnacle Advisory (Washington DC)


Resources

Critical Issues
Forum 8

Markets | Strategies
I've been thinking outside the box... about Africa, the new old continent

"Africa's economies are amongst the fastest growing in the world, with technological change sweeping across the continent. At the same time, the burgeoning youth population in Africa is changing economies and political systems in profound ways... We believe Africa can be the world's next major economic success story."  Barrack Obama June 2012.  Is Africa the next China?

Presenter:
- Jonathan Pain, Editor, The Pain Report (Sydney)


Resources

 

 

 

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