Delegate feedback report - s32136.pcdn.co

Wednesday, 17 April 2019JW Marriott Hotel

Delegate feedback report

CONTENTS

SPONSORS

This report has been compiled from the feedback received from delegates who attended the Fund Selector Asia Alpha Portfolios Forum Hong Kong 2019. All delegates were asked to return their feedback via questionnaires completed at the end of the day. The feedback forms contained questions on the event as a whole, on each sponsor presentation, on the speakers themselves and any suggestions for topics at future events. Feedback forms were supplied by 43% of delegates who attended the forum. We have pulled together an honest and accurate report of the day and have included a list of all those who registered to attend the forum.

About the event 01

Delegates 02

Overall experience 04

Event comments 05

Event photos 06

Speaker profile: James Blair 10

Speaker profile: Matthew Wardle 11

Speaker profile: Duncan Robertson 12

Speaker profile: Frank Tsui 13

Tom PorterManaging director, Asia

Gareth WildeDirector, business development, Asia

FSA Alpha Portfolios Forum Hong Kong | Apr 2019 1

DELEGATES

ATTENDED (35)

St. James's Place (Hong Kong) Partner

CA Indosuez Wealth Management (Hong Kong) Director, Fund Specialist

Hong Kong Housing Society Senior Manager, Treasury and Investment Management

Mercer Investments Vice President / Senior Investment Consultant

Rothschild Wealth Management (Hong Kong) Limited Manager, Wealth Management

Mercer Investments Senior Consultant, Wealth

Mercer Mercer Fund Watch Solution Leader

EFG Bank (Hong Kong) Senior Vice President, Head of Product Management

Julius Baer (Hong Kong) Executive director

Paochu Investment Investment Manager

Credit Suisse (Hong Kong) Analyst, investment consulting

Delta Asia Wealth Management Research analyst

FinEx Asia Investment Director

Citi Private Bank Hong Kong Managing Director, Head of Citi Investment Management Sales

Donglin Family Office Chairman

Hong Kong Housing Society Manager, Treasury and Investment Management

Noah Holdings Senior Manager

Delta Asia Wealth Management Head of Securities & Investment

Mercer Assistant Vice President, Wealth

Hong Kong Housing Society Manager, Treasury and Investment Management

AMG Wealth Management (Hong Kong) Chief investment officer

Everbright Sun Hung Kai Assistant Vice President

Hang Seng Bank Head of investment advisory

Hong Kong Housing Society Head of treasury

Investec - Hong Kong Central Investment director

China Merchants Bank Strategist, Research department

Credit Suisse (Hong Kong) Executive Director, investment consulting

CBH Asia Investment Analyst

Everbright Sun Hung Kai Wealth management strategist

BNP Paribas Wealth Management Managing Director, Investment Advisor

ICBC Strategist & chief economist, global markets & trading department

Winland Wealth Management Wealth manager

Penjing Asset Management Chief investment officer

Nippon Wealth Limited Manager, Product and Business Developmnt

Rothschild & Co Wealth Management Client Adviser


DELEGATES

CANCELLED (04)

PFC International Director

China Industrial Securities International Limited Senior director

Nippon Wealth Limited Director of Product and Business Development

EFG Bank (Hong Kong) Fund Product Specialist

NO SHOW (06)

Indosuez Wealth Management (Hong Kong) Senior director, investment advisory

Formosa Capital Director

Bank of Singapore Limited (Hong Kong Branch) Head of Managed Investments & Private Equity

CA Indosuez Deputy Chief Executive, Commercial Head, North Asia

HSBC Private Bank (Hong Kong) Director

Rothschild Wealth Management (Hong Kong) Limited Managing director, head of wealth management, Asia


OVERALL EXPERIENCE

Overall rating of the Fund Selector Asia Alpha Portfolios Morning Briefing Singapore

Events team professionalism, approachability and knowledge

Standard of the venue (eg catering, meeting rooms)

Location

Standard of the information received from the FSA team prior to the event

57%Excellent

43%Good

38%Excellent

62%Good

58%Good

42%Excellent

34%Excellent

64%Excellent

36%Good

58%Good

8%Average


EVENT AND CHAIRMAN COMMENTS

“Always great to hear from Tom.”

“Hope to hear more of PEs and HFs.”

“Quality, niche investment strategies that are differentiated are always good to hear in future events.”


SPEAKER AND EVENT PHOTOS

James Blair, Capital Group Matthew Wardle, M&G Investments

Duncan Robertson, TT International

Gareth Wilde, Last Word

Frank Tsui, Value Partners

Tom Porter, Last Word


EVENT PHOTOS

Panel discussion with first session speakers (L-R: Tom Porter, James Blair, Matthew Wardle, Duncan Robertson, Frank Tsui)


EVENT PHOTOS


EVENT PHOTOS


SPEAKERS

Seminar topic

Global High Income Opportunities: Delivering 20 years of consistent high income

For many investors, generating income is a vital requirement of their investment portfolio. Capital Group’s 20-year Global High Income Opportunities strategy has proven its resilience through various yield environments and consistently provided a high income solution.

Comments

Interactive polling questions

Rating

Overall presentation

Content and subject matter

Overall speech

JAMES BLAIRFixed income investment director, Capital Group

“How much do you vary the buckets of High Yield, EM local and EM Hard currency? Are they fixed?”

“How do you decide which portion of the blend offers best value?”

“Is this a truly global strategy? How much has the geographic exposure changed over the years?”

“What is the annual fee?”

“R u in China onshore bonds post indexes inclusion?”

“We have had volatile EM currency period recently - Turkey, Argentina, South Africa - are you concerned about EM currencies at the moment?”

“How flexible is the asset split between high yield and Emerging Markets? Why 50:50?”

“Your investment universe is vast. How do you organise your teams to ensure the best ideas get into the portfolio?”

“Is this more an institutional product given the very long term focus and the consistent strategic allocation?”

“If a US led economic slowdown is sharper than you expect, how is the outlook for high yield market?”

“Recession coming soon?”

34%Excellent

53%Good

13%Average

7%Average

31%Excellent

62%Good

36%Excellent

43%Good

21%Average

“Great fund with solid track record. However, the 2013, 2014, 2015 yearly return is a bit disappointing”

“Asset class fits well with a FED rate pulse.”


SPEAKERS

Seminar topic

Opportunities in European asset backed securities

The European ABS market offers compelling value relative to fixed income alternatives and despite very strong fundamental credit performance during and since the crisis, spreads are currently still up to 10x their 2006-7 levels. At the high yield end of the ABS market we see compelling value in bank capital relief trades due to their high coupons (9-12%) and lower correlation with other markets.

Comments


Rating



Overall speech

MATTHEW WARDLEPortfolio manager, M&G Investments

“Without ECB intervention is the European Banking system a good bet?”

“Why is the supply of European ABS shrinking? Could it expand again?”

“Are these traded OTC?”

“Regulation created price anomalies that can be captured. Are the price anomalies still available to be captured?”

“How reliable are the credit ratings of the top quality tranches?”

“Do you expect Deutsche Bank to merge with Commerzbank?”

“What is a key risk to Europe abs portfolio this year?”

“What do you think about ABS originations in China?”

“For CRT, does collateral account fully cover interest and principal payments of CLN? Who administers the collateral account?”

“What is the weighted average credit rating and duration of the current portfolio?”

57%Excellent

43%Good

42%Excellent

58%Good

50%Excellent

50%Good

“Very informative session.”

“Unique asset class not always discussed.”

“Makes sense to use it as a diversifier.”

“Interested to learn about this area.”


SPEAKERS

Seminar topic

Asian equities - the power of combining quality, growth and value

Duncan will discuss the benefits of constructing a portfolio that is equally focused on quality, growth and valuations. Whilst Asian equities are often characterised by momentum-driven volatility, an approach equally focused on these three metrics can exploit the prevalent market inefficiencies.

Comments


Rating



Overall speech

DUNCAN ROBERTSONPortfolio manager, Asia ex Japan equities,TT International

“How do you determine honest management?”

“How important are dividends to the strategy?”

“Do you hedge EM currency exposure?”

“How long do you expect to hold a stock?”

“Do you only buy in countries that satisfy your macro criteria?”

“What if a country goes sour but you still have a great stock in that geography? Which takes preference the top down or the bottom up?”

“A slowdown in global growth will impact your fund?”

“How have you navigated A share mkt and what is your view now?”

“How do you define quality?”

“Do you have a market-cap bias?”

“Alibaba top holding is not transparent and lacks robust governance, why so much exposure?”

“Would you take correlation or co-movement between Asian countries into consideration when you make allocation decision ?”

“How do you think about he benchmark? What is the active money in the portfolio?”

47%Excellent

53%Good

14%Average

42%Excellent

58%Good

36%Excellent

50%Good

“Many competitors in the same region. ”

“Fund itself or their theme is not likely to be on high demand. ”

“Nothing related to the presenter but more on that asset class.”


SPEAKERS

Seminar topic

Capturing Asia’s wealth of innovation opportunities across all sectors

Innovation might seem like an easy concept to understand, but investing in it is anything but. In this session, Value Partners will be explaining how investors can strategically and accurately tap into Asia’s growing innovation prowess.

Comments


Rating



Overall speech

FRANK TSUIFund manager, Asia ex Japan equities,Value Partners

“Will the US push for trade “fairness” slow Chinese innovation?”

“Is China’s consumer innovation apart from tech, exportable to the West?”

“How do you differentiate between something makes you go wow in the short to something that has lasting value creation?”

“US is going after China’s forced tech transfer and lax IP protection, will it slow innovation at company level?”

“How do you value a healthcare company in China/Asia?”

“You don’t invest in India - why not?”

“What is the aggregate earnings growth rate, and valuation in your portfolio?”

“Regulation will slowdown innovation - 5g, healthcare. Finance, gaming?”

“How do you set the allocation limit on the sub sectors? As the market continues to evolve will those weights be adjusted?”

“Do you think innovation/tech/AI themed funds are a little overcrowded ?”

“China actually has filed the most patents, will the fund overweight in China?”

53%Excellent

40%Good

8%Average

7%Average

46%Excellent

46%Good

64%Excellent

36%Good

“Great trendy topic.”

“Fills all the boxes for an innovation fund.”

“Great examples shown.”

“Fits well with the latest mega trends and client’s appetite.”


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Last Word Media (Asia) Pte Ltd.3 Church Street, 12-02 Samsung Hub Singapore 049483

Last Word Media (HK) Ltd. Suite 2003, 20/F Capitol Centre 1 5-19 Jardine’s Bazaar Causeway Bay, Hong Kong

www.lastwordmedia.com

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Delegate feedback report - s32136.pcdn.co