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  • CROCI Outlook 2019
    CROCI Outlook 2019
    Francesco Curto, PhD, Head of CROCI; Colin McKenzie, Head of CROCI Intelligence Recorded: Feb 25 2019 45 mins
    During the past decade, equity investors have benefitted from two principal trends: the inflation of asset prices via quantitative easing and strong earnings growth from the Technology sector. Both these trends are now showing signs of fatigue. In 2019, investors face a choice between Scylla and Charybdis.

    For investors, Charybdis is the central banks’ tightening programmes: excessive tightening risks creating a whirlpool which rapidly deflates asset prices. The alternative is Scylla: this would involve fewer rate hikes, a synchronised global economic slowdown and the hope that the journey does not veer off course. Odysseus chose Scylla—a rational choice that kept the ship safe in return for the sacrifice of a few sailors. Conservatism might dictate a similar choice to policymakers now.

    Our bottom-up analysis suggests that a slowdown is well underway, with capex falling and risk premia rising. Equity valuations may still be rich at the market level, but there are few alternatives available to investors and good pockets of value are starting to emerge for astute investors.
  • Robust portfolios with ETFs: another look at Defensive Assets
    Robust portfolios with ETFs: another look at Defensive Assets
    Vincent Denoiseux, Managing Director, Head of Portfolio Solutions Recorded: Oct 24 2018 38 mins
    Elevated Valuations, recent increases in volatility, interest rates on the rise ? Market sentiment is evolving rapidly and this has prompted a review of several techniques that can be efficiently implemented with ETFs in order to mitigate portfolio risks. From Sectors to Factors, Fixed Income to Commodities, we will analyse the defensive characteristics of these assets with the aim of achieving a high level of diversification and robust performance over market cycles.
  • Asian Bonds – Daring to be different
    Asian Bonds – Daring to be different
    Torsten Harig, Senior Investment Specialist Fixed Income at DWS Recorded: Sep 26 2018 46 mins
    Asians are buying Asia Bonds – so should we?

    In fact, the Asian Bond market is one of the fastest growing asset classes. Average yields are elevated across various ratings, offering new sources for income.

    Join us to rethink Asia and to identify ways to make a difference.

    Torsten Harig is Senior Investment Specialist Fixed Income at DWS: Torsten joined DWS in 2005 and covers Emerging Markets Fixed Income strategies since 2011 as lead specialist across Europe.
  • Liquidity in the Fixed income ETF market, dispelling the myths
    Liquidity in the Fixed income ETF market, dispelling the myths
    Jessica Singleton & Bhaven Patel Recorded: Aug 30 2018 41 mins
    How do fixed income ETFs differ from equity ETFs and how are they typically used by investors? How liquid is a fixed income ETF and, how do they perform in periods of market volatility?
    Our fixed income investment specialist, Jessica Singleton, will discuss the mechanics of a bond ETF, how the funds are constructed, the portfolio management process and most common uses. Bhaven Patel from our Xtrackers Capital Markets team will talk through how bond ETF liquidity is measured and dispel any myths around how fixed income ETFs weather stressed markets.


    Jessica Singleton, Fixed Income Investment Specialist, Index Investing

    Bhaven Patel, ETP Capital Markets, Index Investing
  • Responsible investing that reduces your carbon footprint
    Responsible investing that reduces your carbon footprint
    Guido Giese, Applied Equity Research from MSCI Recorded: Jun 11 2018 35 mins
    With increased focus on responsible investing, DWS with MSCI have launched a new range of environmental, social and governance (ESG) Xtrackers ETFs. The four new ETFs provide exposure to ESG-filtered equity indices tracking global, US, Japanese and European markets. The new ETFs track indices that are part of the MSCI ESG Leaders Low Carbon ex Tobacco Involvement 5% series. The indices use extensive filtering based on MSCI ESG research, which means included companies meet strict ESG and low carbon requirements.

    Please join us at DWS and MSCI as we discuss the index methodology and construction of the indices, focusing on the underlying research in this space.
  • Balancing Risk and Return in the Current Bond Market Environment
    Balancing Risk and Return in the Current Bond Market Environment
    Blanca Koenig, Director, DWS Recorded: May 8 2018 51 mins
    With rising rates in the US, can value still be found in USD bonds? USD yields are significantly higher than EUR and GBP yield – but what are the risks investors are taking? Blanca will discuss the spectrum of USD bond investment opportunities using
    Fixed Income ETF examples.
  • Climate Risk and the Sustainable Development Goals
    Climate Risk and the Sustainable Development Goals
    Michael Lewis, Head of ESG Thematic Research Recorded: Apr 19 2018 43 mins
    Michael Lewis lends his expertise, for today's session:

    · Identifying the channels of climate risk and the threat to financial stability

    · Integrating physical climate risk into investment portfolios

    · How investment opportunities of the SDGs are spreading from private to public markets

    Michael leads ESG Thematic Research at DWS and joined the company in 1990. His team identifies key trends and controversies as they relate to ESG and his work supports all three divisions of the investment platform, namely Active, Passive and Alternatives. Prior to his current role, Michael was the Global Head of CommoditiesResearch in the Corporate Banking & Securities division of Deutsche Bank. The Commodities Research team was ranked #2 in the 2013 Institutional Investor Survey.

    Before this, he was the Deputy Head of FX Research at Deutsche Morgan Grenfell. In 2000, the FX Research team was ranked #1 in the Euromoney FX Survey. Michael began his career as a research analyst covering Global Macro & Rates research at Morgan Grenfell. Michael holds a BSc in Economics from the University of Bristol and an MSc (Econ) in Economics from London School of Economics and Political Science.
  • Key drivers in Emerging Market economies
    Key drivers in Emerging Market economies
    Sean Taylor, APAC CIO and Global Head of Emerging Market Equities Recorded: Mar 27 2018 45 mins
    EM equities continue to outperform their developed market peers YTD. Key drivers of this performance are the encouraging economic conditions in China, steady investor flows in EM region and strong corporate earnings growth. Please join us as we discuss why we are positive on Emerging Markets with Sean Taylor, APAC CIO for DWS.

    Sean joined DWS in 2013 with 21 years of industry experience.
    He started his career in 1994 as a fund manager with Capel Cure Myers. In 1997 he moved to Societe Generale where he spent eight years and became Head of International & Emerging Markets. In 2004, Sean joined GAM as an Investment Director. In this role he was based in London and Dubai.

    Sean has been named CIO of the Year in Asia for two years in a row by Asia Asset Management. In addition to being Fund Manager to 5 Star rated funds in Global Emerging Markets, Emerging Europe, Frontier Emerging Markets, GEM and Eastern European strategies, he has also won awards such as Emerging Fund of the Year (2007) and Best Frontier Hedge Fund (2010) by Hedge Fund World.

    Sean holds an MBA from Manchester Business School.
  • CROCI Outlook 2018: The Siren Song
    CROCI Outlook 2018: The Siren Song
    Francesco Curto, Global Head of CROCI Investment Strategy & Valuation Group Recorded: Feb 8 2018 53 mins
    Francesco Curto, PhD (Global Head of CROCI Investment Strategy & Valuation Group) will talk through the recently published 2018 CROCI Outlook for equity markets, based on bottom-up analysis using CROCI’s proprietary economic valuation approach.
    In our 2017 outlook, we compared the world of investment to the journey that Odysseus took to return to Ithaca from Troy. The story ultimately had a happy ending, but the journey was long and perilous, and riddled with danger. Ten years since the great financial crisis, economic growth has picked up across the major economies but equity valuations are stretched. On long-term assumptions, our analysis suggests that equities may be overvalued by as much as 25%. Even so, there are some interesting pockets of value for long-term investors.

    The Outlook discusses these valuation opportunities, how to perform in a high valuation environment, the risk of bubbles, and of course regional & sectoral valuation anomalies.
  • 2018 Macro Outlook and Implementation Ideas using ETFs
    2018 Macro Outlook and Implementation Ideas using ETFs
    Oliver Pfeil, Senior Equity Stategist - Strategic Beta Recorded: Dec 13 2017 41 mins
    2018 brings with it another year of the new reality in the global economy: modest growth, benign inflation, and low interest rates. But at this late stage in the cycle, with most asset classes being rather expensive, positioning for 2018 is arguably more important than it has been for several years. Deutsche Asset Management invites you to join us for a discussion on our 2018 outlook and investment ideas using ETFs.

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