Conference 2017 - Program & Prep Materials

An exceptional tapestry is far more than just the sum of its individual threads, and a masterpiece painting is far more than just the sum of its brush strokes. So too is an investment portfolio far more than just the sum of the many individual investment decisions and strategies that must be made and woven together, based on investment beliefs.

And, unlike the past 35 years when equity and bond prices were boosted by declining inflation and interest rates, and rising corporate profitability, in today’s lower return, increased risk environment, practitioners must take even greater care that every investment decision contributes positively to a portfolio meeting its objectives. Every little bit counts.

Strategies Conference 2017 focuses on one of our five Knowledge Domains - Strategies - and facilitates debate on a selection of contemporary and emerging portfolio construction strategies, with particular emphasis on how each one contributes to a better quality portfolio. It all adds up!


Knowledge Domain: Strategies
Prep Materials

Knowledge Domain: Strategies

Portfolio construction practitioners are responsible for designing, building and implementing strategies which are, ultimately, capable of meeting the long-term objectives of end investors. By applying their portfolio construction philosophy and knowledge of investment markets and theory, practitioners must create robust investment strategies to meet the set objectives. The process encompasses portfolio design, including setting objectives, asset allocation, risk and currency management, and appropriately selecting and blending for accumulation and decumulation, to create well-diversified portfolios suitable for the end investor.






Arrive and check-in, help yourself to coffee/tea.

Please be seated in the Theatre no later than 8.10am.   


Critical Issues Forum 1

It all adds up!
Graham Rich, Managing Partner & Publisher, PortfolioConstruction Forum (Sydney)


Critical Issues Forum 2

Retirement Spending and Biological Age - Your Birthday is Just Another Number

Professor Moshe A Milevsky, PhD, Professor of Finance at York University in Toronto, Canada




Critical Issues Forum 3

Markets & Strategies
Another global financial crisis is inevitable

Dr Robert Gay, PhD, Managing Partner, Fenwick Advisors (Boston)

Tony Crescenzi, Market Strategist & Portfolio Manager, PIMCO (Newport Beach)
Brett Gillespie, Head of Global Macro, Ellerston Capital (Sydney)
Charlie Jamieson, Executive Director, Jamieson Coote Bonds (Melbourne)
William Low, Head of Global Equities, Nikko Asset Management (Edinburgh)




Special Interests Forum 1

Strategies | Equities - Global
In a low return world, small mistakes add up to big losses

Warryn Robertson, Portfolio Manager/Analyst, Lazard Asset Management Pacific Co. (Sydney)

Strategies | Debt - Global
To pick up pennies, take a structured approach to investing

Tony Crescenzi, Market Strategist & Portfolio Manager, PIMCO (Newport Beach)


Strategies | Equities - Global
Creativity and predictability add up to alpha generation

William Low, Head of Global Equities, Nikko Asset Management (Edinburgh)


Strategies | Equities - Global
Index obsession is unhealthy and leads investors astray

Andrew Clifford, Chief Investment Officer, Platinum Asset Management (Sydney)


Strategies | Multi-asset
A team of champions does not make a champion team

Michael O’Dea, Head of Multi-Asset, Perpetual Investments (Sydney)


Strategies | Equities - Global
E + S + G factors all add up to better performance

Amanda McCluskey, Co-Head Sustainable Funds Group, Stewart Investors / Colonial First State Global Asset Management (Sydney)


Strategies | Alternatives – Private Equity
The shrinking of the public equity market matters

Brian J. Buenneke, Partner, Pantheon Ventures / Affiliated Managers Group (San Francisco)


Strategies | Alternatives – Private Debt
The 'Random Walk' hypothesis is dead

Jason Thomas, CFA, FRM, Managing Director & Director of Research, The Carlyle Group (Washington DC)




Critical Issues Forum 4

ETFs are the new stocks and advisers are the new managers

Michael Kitces, Partner & Director of Research, Pinnacle Advisory Group (Washington DC)

Annika Bradley, CIMA®, Financial Services Consultant, Lodrino (Brisbane)
Charmaine Cheung, CIMA®, Head of Applied Research & Solutions, BT Financial Group (Sydney)
Paul Newfield, CIMA®, FIAA, Senior Investment Consultant, Willis Towers Watson (Melbourne)
Justin Willett, CIMA®, Senior Research Analyst, AMP Advice (Sydney)




Critical Issues Forum 5

Investment is a game of inches – every little bit counts

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

Philosophy & Investing
Culture is at the heart of investment competitive advantage

Carol Geremia, Co-Head of Global Distribution, MFS Asset Management (Boston)


Critical Issues Forum 6

Philosophy & Markets
Democratic politics & market economics are the axis of value

The Hon Ruth Richardson, Professional Director & Economic/Public Policy Advisor, RRNZ (Christchurch)



PortfolioConstruction Forum launched its first program with THE investment conference in August 2002 - so with this program, we'll have completed our 15th year!

So we're having a special Birthday Networking Reception to celebrate - all delegates are invited and very welcome.


Day 1 ends





Arrive and check-in, help yourself to coffee/tea.

Please be seated in the Theatre no later than 7.50am.   


Critical Issues Forum 7

There are better alternatives to time-based rebalancing

Michael Kitces, Partner & Director of Research, Pinnacle Advisory Group (Washington DC)




Critical Issues Forum 8

Benchmarks cause us to (mis)judge fund manager capability

Ron Bird, Professor, University of Technology Sydney (Sydney)


Longevity pooling adds up to better retirement outcomes

David Knox, PhD., Senior Partner & Senior Actuary, Mercer (Melbourne)
Nick White, Global Director of Portfolio Construction Research, Mercer (Sydney)




Special Interests Forum 2


Strategies | Equities – Global
Shifting global trade patterns open up new opportunities

Andy Budden, Investment Director, Capital Group (Singapore)

Strategies | Equities – Specialty – Australia
World class companies run their own race

Kate Howitt, Portfolio Manager, Fidelity International (Sydney)


Strategies | Equities – Global
Managing carbon exposure is essential for better risk-adjusted returns

Domenico Giuliano, Deputy Chief Investment Officer & Portfolio Manager, Magellan Financial Group (Sydney)


Strategies | Debt – Global
Global credit deserves a greater piece of the investment pie

Samantha Lamb, Investment Director – Corporate Bonds, Aberdeen Standard Investments (Edinburgh)


Strategies | Equities – Specialty – Global EM Infrastructure
EM Infrastructure is too risky for defensive equity portfolios

Charles Hamieh, Senior Investment Analyst & Portfolio Manager, RARE Infrastructure (Sydney)


Strategies | Equities – Specialty – Australia
Falling living standards are a bigger risk than volatility

Reece Birtles, Chief Investment Officer, Martin Currie Australia / Legg Mason Asset Management (Sydney)


Strategies | Multi-Asset
Multi asset + derivatives = your pre+post retirement solution

David Jubb, FIA, Fund Manager, Invesco (Henley-on-Thames)


Investing | ETFs
Not all ETFs are created equal

Jonathan Howie, Head of iShares Australia, BlackRock (Sydney)




Special Interests Forum 3

Markets | Geopolitics
China will be the dominant power in the region by 2027

Linda Jakobson, Founding Director & Chief Executive Officer, China Matters (Sydney)


Markets | Equities – Specialty – China
Digital consumption is China's next growth engine

Mansfield Mok, Senior Portfolio Manager, EFG Asset Management (Hong Kong)


Strategies | Equities – Specialty – Australia
There is no dominant strategy in Australian Equities

Blake Henricks, CAIA, Portfolio Manager & Analyst, Macquarie Investment Management (Sydney)

Strategies | Multi-Asset
Risk-based investing is essential in a low return world

Susan Gosling, PhD., Head of Investments, MLC (Sydney)


Strategies | Debt - Australia
Corporate debt is the undiscovered yield play

Andrew Lockhart, Managing Partner, Metrics Credit Partners / Pinnacle Investment Management (Sydney)


Strategies | Equities – Global
Smart money signals can improve your global factor models

Jason Liu, Vice President – S&P Capital IQ, S&P Global (Hong Kong)


Strategies | Equities – Global
Exploiting anomalies is vital for higher long term returns

Paul Moore, Chairman & Chief Investment Officer, PM Capital (Sydney)


Strategies | Alternatives - Beta
Investing in diversified fat left tailed strategies has value

Philip Seager, Head of Institutional Systematic Strategies, Capital Fund Management (Paris)




Critical Issues Forum 9


Philosophy & Investing
Ethics has nothing to do with investment

Clare Payne, Consulting Fellow for Ethics in Banking and Finance, The Ethics Centre (Sydney)


There’s a place for Impact Investing strategies in portfolios

Richard Brandweiner, CFA, Partner, LeapFrog Investments (Sydney)
Giles Gunesekera, CEO, Global Impact Initiative (Sydney)
Tim Macready, CIMA®, Chief Investment Officer, Christian Super & Managing Director, Brightlight Impact Advisory (Sydney)


Critical Issues Forum 10


Philosophy & Finology
Making hard decisions doesn't need to be difficult

Ruth Chang, PhD., Professor, Rutgers University (New York)




Strategies Conference 2017 ends





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