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Professor David Bailey
David Bailey is Professor of Business Economics at the Birmingham Business School, University of Birmingham, UK and an ESRC ‘UK in a Changing Europe Senior Fellow’. He has written extensively on industrial and regional policy, especially in relation to manufacturing and the auto industry. He has been involved in a number of recent major projects including the Horizon2020 project MAKERS where he led the Work Package on Industrial Policy. He is Editor-in-Chief of the journal Contemporary Social Science, editor of the journal Regional Studies, and a Director of the RSA Europe Think-Tank and policy forum. Recent books include ‘Industry 4.0 & Regional Transformations’ (with Lisa De Propris) published by Taylor & Francis and ‘Carmageddon? Brexit & Beyond for UK Auto’ published by Bite-Sized Books. He has acted as a consultant for numerous organisations and companies, including being a member of the last government's Battery Strategy Taskforce. David is a regular media commenter and newspaper columnist.
Tweet him @dgbailey
Workshops
Workshops
Where can Indexes and Factors Fall Short?
Since the launch of the first index fund in 1975, the growth and rise of indexing by investors has been meteoric. Market indexes designed to represent total stock markets or broad subsets of a market, offer investors key benefits: transparency, low-cost building blocks are high levels of diversified.
At the core of Avantis investment philosophy, financial science and our understanding of what drives asset prices have evolved considerably. The implications on the financial services industry have also been significant, including the introduction of passive index funds, single-factor and multi-factor strategies.
Recent studies have highlighted that the rise in indexing has been driven by asset class segment, or non-total market index funds. While index-based strategies offer transparency in exposures, any non-total market index involves active decision making in both design and ongoing execution.
Workshop Objectives: During this session we will:
• Examine some of the similarities and differences in how indices define asset classes and manage reconstitution.
• Highlight some of the constraints these decisions can place on index trackers.
• Propose how a systematic approach can deliver benefits commonly associated with indexing while removing artificial constraints.
Company Profile: Avantis Investors was established to help clients achieve their investment goals through a persistent focus on providing well-diversified investment solutions that fit seamlessly into asset allocations and combine the potential for outperformance with the consistency of indexing.
We take common-sense investment principles and incorporate the latest academic research to build investment strategies designed to improve outcomes for investors.
The innovations of Avantis Investors® rest on the established foundation of American Century Investments, an asset manager known for industry-leading client care, stewardship and stability. Founded over 65 years ago, American Century Investments boasts an institutional-quality investment management platform with more than $263 billion* in assets under management.
Speakers
Cleo Chang
Chief Investment Solutions Officer, Senior Vice President
Cleo Chang is Senior Vice President and Chief Investment Solutions Officer for American Century Investments®, an independent, privately controlled, pure-play asset management firm founded in 1958.
As Chief Investment Solutions Officer, Ms. Chang is the firm’s most senior investment management executive responsible for setting the strategic direction of American Century’s exchanged traded fund (ETF) initiatives. Ms. Chang also serves as a member of the Avantis Investments leadership team to help with global client demand and to deepen cross- team connectivity and collaboration. She is a member of American Century’s Management Committee, a senior leadership team responsible for establishing and executing strategic priorities.
Ms. Chang is co-executive sponsor of American Century’s Mosaic business resource group, which represents different minority groups, ethnicities and cultural backgrounds, and is dedicated to linking the firm’s work with its internal and external communities and providing a space that allows teammates to be their authentic selves.
Prior to joining American Century, Ms. Chang was chief investment officer and managing director with Wilshire Funds Management. As CIO, Ms. Chang oversaw all investment-related functions, including manager research, portfolio management and investment research for both traditional and alternative asset classes. Previously, she was the head of investment research, responsible for creating investment solutions and asset allocation frameworks.
Earlier in her career, Ms. Chang served as manager of investments with Harris my CFO Investment Advisory Services, a subsidiary of Bank of Montreal. She earned her BA in economics from the University of California, Berkeley and an MS in mathematical finance from the University of Southern California. She also holds an MBA with a concentration in finance from the Marshall School of Business, University of Southern California.
Representatives
Ben Day
Director, Head of UK, Netherlands Distribution & EMEA Consultant Relations
Active ETFs: Power up your portfolio
The ETF structure, once synonymous with index investing, now provides investors with greater access to a wider range of investment strategies than ever before. Driven by rapid growth in the US, active ETFs have reached $1 trillion in global assets under management (AUM) this year. Join iShares by BlackRock as we explore the future drivers of active ETF growth, key differences in market dynamics between the US and Europe, the evolving taxonomy of active ETF products, and our suite of active ETF solutions designed to address diverse portfolio construction needs
Workshop Objectives: Understand the Growth of Active ETFs:
• Learn about the growth of active ETFs, emerging trends and innovations that are likely to drive the future growth and the key differences between the drivers in US and Europe markets
• Gain insights into how active ETFs can be integrated into diverse portfolio construction strategies.
Company Profile: BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate
Speakers
Cara Milton-Edwards
Vice President, Product Distribution
Cara Milton-Edwards, Vice President, is part of the iShares index and active ETF product distribution team. She partners with client businesses to drive the growth of BlackRock’s iShares business across all segments, providing portfolio solutions using ETFs. Cara emphasizes education on Active ETFs and has deep knowledge of the wealth management industry. Previously, she focused on iShares sustainable ETF distribution and was a fixed income product strategist for 6 years.
Adam Riley
Head of International Wealth Platform Strategy for BlackRock Systematic
Adam Riley, Director, is Head of International Wealth Platform Strategy for BlackRock Systematic (BSYS) and a Senior Product Strategist within Systematic Active Equity (SAE). He leads business strategy and sales enablement for BSYS in International Wealth markets and is the lead strategist for the SAE Equity High Income franchise. He also drives business and product development across Mutual Funds, Active-ETFs, Customised Mandates, and Advisory Solutions.
Representatives
Erin Smith
Associate, UK Wealth Sales
Erin Smith is responsible for connecting UK Wealth Managers to the BlackRock platform including; alpha and index funds and ETFs, Aladdin technology, cash management products, hedge funds, private markets, and bespoke investment solutions.
Prior to joining, Erin worked for abrdn in the UK wholesale sales division, focussing on the distribution of abrdn active funds to strategic UK accounts within the UK market. She also completed her graduate programme here and worked across a number of offices across the region.
Nathan Henry
Vice President, UK Wealth Sales
Nathan Henry is a member of the Manager Research Team within BlackRock's UK Wealth Sales Team, covering fund selectors within our largest Private Bank and Wealth Management accounts. This includes the distribution of BlackRock's index, active and alternative strategies.
Prior to joining, Nathan worked for Handelsbanken Wealth and Asset Management in the investment team, where he held portfolio management and equity research responsibilities.
Small, Mid and the Grid
This presentation explores the broadening out of the market, that may already be underway, by highlighting two key areas:
1. The historic opportunity in US small and mid-cap companies.
2. The Smart Grid theme, offering exposure to the $21 trillion global electric grid upgrade.
The Nasdaq® OMX Clean Edge® Smart Grid Infrastructure Index UCITS ETF has demonstrated lower volatility compared to other clean energy investments over the past decade, with many holdings incorporating AI solutions for years. Additionally, GRID provides exposure to companies powering the data centre buildout.
The First Trust SMID Rising Dividend Achievers UCITS ETF offers pure-play exposure to two historically undervalued market segments: small/mid-cap companies and value stocks. First Trust will demonstrate how this rules-based methodology mitigates the major risk associated to “SMID” caps whilst avoiding value traps.
Workshop Objectives:
• Discuss where we are in the “Broadening Out” rally.
• Detail the Smart Grid theme.
• Outline historic opportunities in small/mid-cap & value stocks.
• Articulate both fund’s selection & weighting methodologies.
Company Profile: First Trust is a privately owned U.S. based financial services firm established in 1991. Our mission and approach are simple. We aim to offer investors a better way to invest by providing transparent and innovative solutions - through knowing what we own, investing for the long term, employing discipline and rebalancing our portfolios.
These core principles are taken into consideration in all aspects of our business and are the building blocks of our reputation. It is through these principles that First Trust’s specialist investment managers apply a robust and disciplined approach to a range of methodologies. We have a strong track record in providing a variety of rules-based, thematic and actively managed strategies investing across a range of equities, fixed income and alternatives.
In delivering our message, our regional sales teams work closely with prospects and clients to distribute First Trust’s range of single-country, regional and global solutions across the world.
Speakers
Gregg Guerin
Senior Product Specialist
Gregg Guerin is the Senior Product Specialist for First Trust Global Portfolios. Prior to working in London, Gregg was a member of the First Trust Institutional Team. Gregg is a graduate of the Booth School of Business where he received an MBA from the University of Chicago with concentrations in Finance, Economics, and International Business. While there he studied the Efficient Market Hypothesis, its known anomalies and Behavioural Finance. Thus, he is especially equipped to discuss, present and educate the market regarding a plethora of related topics, including the currently popular and confusing term “Smart Beta.” In fact, Gregg taught a course at his alma mater, Wheaton College, entitled The History and Relevance of the Stock Market. He has been immersed in the ETF industry for over 10 years and sees tremendous growth potential for the ETF market here in the UK and European markets. Gregg is passionate about Innovation and Exponential Technologies and the benefits of Thematic Investing.
Representatives
Rupert Haddon
Managing Director: Head of Sales & Distribution
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Rupert is Managing Director, Head of Sales for First Trust’s UCITS platform globally and was an original team member when First Trust was founded in Europe in 2013. He has over 15 years’ experience working in the financial services industry and graduated with honours from the University of Leeds having read Ancient History and Classical Literature.
Too big to ignore - how best to get exposure to the US.
The US represents approximately 70% of developed market indices and often makes up a large part of investor portfolios. So, what next for US Equities? Where do opportunities lie?
In this session, we will look at the key drivers behind the US stock market, explore some of the ways you could gain exposure to US equities, including ways to dial up or down exposure to tech, and explain how a swap-based approach offers a distinct structural advantage for ETFs tracking US equity indices.
Workshop Objectives:
• Explore the factors driving the US equity market
• Understand the different ways to gain exposure to US equities via ETFs
• Understand the benefits and risks of a swap-based approach for ETFs tracking US equity indices
Company Profile: Invesco is a leading independent global investment management firm with more than 8,400 dedicated people in over 26 countries. Our philosophy is about using our integrity, passion and expertise to solve the needs of our clients, helping them reach their goals.
We manage over US$1.8 trillion of assets*, giving our clients the confidence of working with a partner with size, scale and stability. We offer a wide range of single-country, regional, and global capabilities across major equity, fixed-income, and alternative asset classes, delivered through a diverse set of investment vehicles, including a broad range of ESG-related capabilities.
*30 September 2024
Speakers
Dr Christopher Mellor, CFA
Head of EMEA ETF Equity Product Management
Before joining the Invesco ETF business in 2015, Chris worked as an investment strategist, focusing on market timing and tactical allocation across regions, sectors and styles. He began his career as a graduate trainee in the Equity Research department of Société Générale, before going on to work for Credit Suisse and Staate Street Global Markets.
Chris holds a DPhil in Inorganic Chemistry from the University of Oxford.
Representatives
Tom Banks
Head of UK ETF Distribution
Tom is responsible for leading the distribution strategy of Invesco’s ETF product range to the UK market across all client segments. Prior to joining Invesco, Tom spent the bulk of his career in J.P. Morgan Asset Management’s EMEA ETF business and helped lead the build out of their active ETF franchise. Tom has a master’s degree in Aerospace Engineering from the University of Southampton and has successfully passed the Certificate in ESG Investing, IMC and CFA level 1.
Richard Twitchen
UK & Channel Islands ETF Business Development
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Richard began his career with Invesco in 2004, before becoming a paraplanner and working for both a boutique financial advisory firm specialising in tax sheltering as well as one of the UK’s leading Chartered Accountancy Partnerships. Richard spent the next four years living overseas and working for both HSBC and Macquarie Investment Bank. Upon returning to the UK, Richard worked for two years at a leading Financial Planning software company before re-joining Invesco at the beginning of 2017.
Investment risks
For complete information on risks, refer to the legal documents. The value of investments, and any income from them, will fluctuate. This may partly be the result of changes in exchange rates. Investors may not get back the full amount invested.
Important information
This marketing communication is exclusively for use by professional investors in the UK. It is not intended for and should not be distributed to the public.
Data as at 10 September 2024, unless otherwise stated.
This is marketing material and not financial advice. It is not intended as a recommendation to buy or sell any particular asset class, security or strategy. Regulatory requirements that require impartiality of investment/investment strategy recommendations are therefore not applicable nor are any prohibitions to trade before publication.
Views and opinions are based on current market conditions and are subject to change.
For information on our funds and the relevant risks, refer to the Key Information Documents/Key Investor Information Documents (local languages) and Prospectus (English, French, German), and the financial reports, available from www.invesco.eu. A summary of investor rights is available in English from www.invescomanagementcompany.ie. The management company may terminate marketing arrangements.
UCITS ETF’s units / shares purchased on the secondary market cannot usually be sold directly back to UCITS ETF. Investors must buy and sell units / shares on a secondary market with the assistance of an intermediary (e.g. a stockbroker) and may incur fees for doing so. In addition, investors may pay more than the current net asset value when buying units / shares and may receive less than the current net asset value when selling them.
Issued by Invesco Investment Management Limited, Ground Floor, 2 Cumberland Place, Fenian Street, Dublin 2, Ireland. Regulated by the Central Bank in Ireland.
EMEA 3848060/2024
Generating Income With Active ETFs
- Income is the Outcome: balancing total return with regular income
- Building defense with a lower volatility portfolio
Workshop Objectives:
- By the end of this session, participants should be able to explain the concept of active ETFs, including some of their features, and give examples of how they can be implemented in portfolios from an income perspective.
- Participants should be able to explain how active ETFs, and specifically derivative-income focussed strategies, can be leveraged to construct lower volatility portfolios that balance total return with regular income.
Speakers
Ruairidh Hill
Executive Director
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Ruairidh Hill, executive director, is an investment specialist within the J.P. Morgan Asset Management International Equity Group, based in London. An employee since 2013, Ruairidh joined as a graduate trainee. He obtained a MA (Hons) in Economics from the University of Edinburgh and is a CFA charterholder.
Judy Jansen
Vice President
Judy Jansen, vice president, is a member of the portfolio management team for Equity Options-based strategies in the U.S. Equity group. An employee since 2015, Judy helps manage the business's Equity Derivatives strategies, including Equity Premium Income, Nasdaq Equity Premium Income, Global Equity Premium Income, Hedged Equity, and International Hedged Equity. Prior to assuming this role, Judy was a U.S. Equity Investment Specialist, co-leading the Equity Options-based portfolios and responsible for the U.S. Equity Core strategies. She began her career at J.P. Morgan as an analyst for the U.S. Equity Value portfolio management team. Judy holds a B.A. from Princeton University and an M.B.A. from the Wharton School of the University of Pennsylvania. She holds Series 7, Series 63, and NFA Series 3 licenses. She is a CFA charterholder.
Representatives
Charlotte Gower
Vice President
Charlotte Gower, Vice President, is an ETF Client Adviser in the UK ETF Distribution team. She joined J.P. Morgan in 2017 as an intern within the Corporate and Investment Bank. After graduating from the University of Edinburgh with a degree in History and Politics, she joined J.P. Morgan as a graduate. She moved to the UK ETF Sales team in autumn 2021, and since that time has worked with a range of UK-based clients to promote J.P. Morgan's ETF offering. She holds the IMC and the CFA Certificate in ESG Investing.
Pav Sharma
Executive Director
Pav Sharma, executive director, is an ETF Client Adviser at J.P. Morgan Asset Management. He joined in January 2024 from Amundi Asset Management where he was overseeing the distribution of passive and systematic strategies across the asset management and institutional segments in the U.K. and Ireland. Prior to his tenure with Amundi, Pav was also Director of UK and Ireland Distribution for WisdomTree Europe, where he started his career. Pav received a BA Hons in Philosophy from King's College London and a Graduate Diploma in Law from the University of Law. He holds the Investment Management Certificate and the CFA Certificate in ESG Investing.