IPE Webcast Channel

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Live interviews, roundtables & presentations

This webcast channel is for pension funds and other institutional investment professionals in Europe, the USA and Asia. It is particularly relevant for pension fund executives, trustees, consultants and investment managers. IPE will be bringing its community live interviews with leading figures in the market, hosting roundtable discussions on specific topics such as asset allocation and also sharing latest thought-leadership from investment experts.

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Opportunities in Emerging Markets Debt Brendan Maton, Dr. Ricardo Adrogué, Brigitte Posch, Cem Karacadag Join Babson's emerging markets fixed income portfolio managers to discuss how the macroeconomic environment is impacting the short-term and long-term trends driving emerging markets debt.

Dr. Ricardo Adrogué, Babson’s Head of Emerging Markets Debt, Brigitte Posch, Head of Emerging Markets Corporate Debt, and Cem Karacadag, Emerging Markets Sovereign Debt portfolio manager, will provide insights into their respective asset classes and discuss how Babson is seeking value in today’s markets.

Dr. Ricardo Adrogué is Head of Babson's Emerging Markets Debt Group. He is also lead portfolio manager for the firm's Emerging Markets Local Debt strategy, and co-portfolio manager for the firm's Emerging Markets Sovereign Hard Currency Debt, Blended Total Return Debt Strategy and Short Duration Bond Strategies. Ricardo holds a B.A. in Economics from the Universidad Católica Argentina, an M.A. in Economics and a Ph.D. from the University of California, Los Angeles.

Brigitte Posch is Head of Babson’s Emerging Markets Corporate Group and Lead Portfolio Manager for this strategy. She is also the Chair of the Emerging Markets Corporate Investment Committee. Brigitte has 23 years of investment experience that has encompassed Emerging Markets Structured Credit, Investment Grade and High Yield Corporate Bonds and Loans. She also held positions in Sao Paulo, Brazil at Banco Inter-Atlantico/ Credit Agricole, Citibank and ABN AMRO. Brigitte holds a B.A. from Mackenzie University of Sao Paulo.

Cem Karacadag is co-manager of Babson’s Emerging Markets Sovereign Debt strategy and backup manager for the firm’s Local Debt strategy. Cem has 20 years of industry experience that has encompassed sovereign credit analysis, macroeconomic policy research and advice, and emerging markets fixed income strategy. Cem holds a B.A. in Economics from Tufts University and an M.A. in International Economics and European Studies from Johns Hopkins University.
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Sep 10 2015 3:00 pm
75 mins
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  • Investors interested in reaping the benefits of factor-based investing in their portfolios have long believed the ultimate question to be, “Which factor should I choose?” Our most recent research shows, however, that investors would be better served to ask, “When should I favour each factor?” Our research also suggests that your investment horizon, rather than the timing of incorporating factor based strategies, is key to meeting your objectives.
  • As the global economy copes with the unpredictable challenges of climate change, institutional investors are exploring the potential impact of these changes on financial assets. With recent announcements by the Financial Stability Board in Basel and the Bank of England to examine the risks posed by ‘Stranded Assets’, more investors are calculating their exposure to high carbon assets and looking for ways to diversify into low or no carbon alternatives.

    There are a growing number of options available to institutional investors. Some Asset Owners have announced plans to divest from high carbon assets, while others have looked to low carbon indexes which either exclude or reweight exposure to carbon-intensive companies while limiting short-term risk against the benchmark.
We invite you to join a discussion with leading experts to examine the extent to which asset owners feel they are exposed to climate risk; the role of asset managers to encourage good practice when addressing climate change and carbon risk and how asset managers can effectively implement a low carbon strategy through index funds.
  • More and more investors are realising the advantages of factor investing and starting to implement its lessons not just as an afterthought, but as a top-down element of the overall investment strategy. A large percentage of pension funds still have a cover ratio that barely exceeds the minimum requirement and face funding issues due to the ageing demographics. To meet liabilities, pension funds are looking for higher returns while at the same time have less appetite for risk. Is factor investing the solution for the seemingly opposing challenges of risk and return?
  • The Power of Rebalancing: Fact, Fiction and Why it Matters

    It is well-understood that rebalancing is a necessary step in restoring a portfolio of volatile assets back to its target weights. Whether it is performed periodically or triggered when actual weightings move too far from target, rebalancing a portfolio will naturally lead to selling assets that have outperformed the portfolio, and buying assets that have underperformed the portfolio.

    It is much less widely understood that rebalancing can actually be a source of return for the portfolio. Despite the fact that this observation dates back to 1982 [Fernholz and Shay] and has been successfully used to manage portfolios for nearly as long, it has come under considerable attack in the recent past by some academics and practitioners. The main arguments used by these detractors are:

    1. There is no return benefit, because the portfolio’s expected wealth does not increase.
    2. The return benefit exists, but is due to diversification, not rebalancing.
    3. The return benefit relies on mean-reversion.

    These arguments may appear compelling at first glance, but all three are fundamentally flawed. This webcast will tell you why.

    INTECH Investment Management LLC will act as sub-adviser to Janus Capital International Limited. Janus Capital International Limited (JCIL) is authorised and regulated in the UK by the Financial Conduct Authority.
  • Why Listen:

    Learn about investing globally in private credit
    Insights into private credit fundamentals worldwide
    Learn how private credit is originated
    Key thoughts and considerations around portfolio construction and diversification in North America, Europe, Australia/New Zealand and developed Asia
  • Investors make portfolio allocation decisions for a wide array of reasons. For example, a pension plan may choose to implement a strategic asset allocation change as a result of an asset-liability study. Whatever the reason for the change in investment allocation, delay in implementation will invariably impact returns. Empirical evidence from State Street’s transition team shows that the delay between client investment decision and selection of a transition manager can run into several months and in extreme cases over a year. Current calculations of investment risk will tend to consider investment exposure relative to a benchmark once the portfolio restructuring is complete. Event Shortfall considers that investment risk starts at the point of decision. Measuring risk in this way implies that asset owners are running unrewarded and un-mandated risks for considerable periods of time and are often paying explicit fund management fees for the delivery.

    Our webinar explains the background to Event Shortfall, considers some of the practical implications of measuring and managing these risks, and reflects on the viewpoint of industry figures.
  • - Weltweiter Trendmarkt Gesundheit: Die Nachfrage steigt überproportional
    - Bis 2030 steigen Gesundheitsausgaben voraussichtlich rund +6% pro Jahr im Durchschnitt
    - Relativ unabhängig von Konjunkturzyklen und unsicheren Börsenphasen
    - Gesundheitsmarkt ist vielfältig: Nicht nur Pharma, sondern z.B. auch Generika, Biotechnologie, Betreuung/Pflege, Logistik/Vertrieb, Medizintechnik und IT.
    - Zweistelliges Gewinnwachstum im Biotech-Sektor
  • · Fundamental and quantitative investment approaches are different, but complimentary.
    · Blending fundamental and quantitative requires scale, research, and integration.
    · A blended approach can lead to consistent performance in different market environments.
    · Risk-aware portfolio construction can lead to high active-share while managing benchmark relative volatility.
  • As a Bank Loans investment expert, Mark Boyadjian, CFA, Senior Vice President and Director of Floating Rate Debt Group at Franklin Templeton Investments will discuss the Bank Loans asset class and the current U.S. bank loans market situation.

    Mr. Boyadjian will provide insights on the following themes, and answer your questions during the live Q&A session.

    Bank loans, a meaningful player in the broader fixed income space

    Credit risk assessment when investing in Bank Loans

    Seeking opportunities in the U.S. market
  • Introduction/description of topic

    What? Factor-investing, or factor-based equity allocations, are entering the mainstream of the investment conversation. But investors are faced with ‘noise’ in the smart beta arena, including uncertainty around how smart beta can solve investment problems, and the differences between ‘smart beta’ and ‘factor’ indices that have exploded onto the scene. So where do they begin?

    Why? If investors have a desire to tilt portfolios towards strategies that can potentially both tolerate market volatility and generate long-term positive returns, exploring how factor-based equity allocations can help achieve these investment objectives is a good place to start.

    How? Practical implementation of exposures to these factors raises a new set of questions such as how to efficiently capture the desired factor exposure(s) while being mindful of turnover and capacity, and how to maintain a well-diversified portfolio.

    This Russell Indexes’ webcast seeks to guide investors through these complexities. We will illustrate how we’ve cut through the noise to focus on what our research has shown to be the most important and complementary factors for portfolio construction: low volatility, value, quality and momentum. We will also provide examples of how factor combination portfolios can align with investor beliefs, preferences, and constraints.

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