Investors are tempted by higher rates to stay in cash – yet cash is the one asset class that has not delivered a positive real return for any of the past decade, and all the prognostications of multiple rate cuts in 2024 have failed to materialize on the back of persistent inflation.  Equities are the only major asset class that protects investors from inflation, because as the owner of a business, one can benefit from the improving pricing power that stronger companies enjoy in inflationary environments.  Learn more from AllianceBernstein’s Senior Investment Strategist for Equities, David Wong, as he discusses what kind of equity allocations work best in the face of persistent inflation, and how to balance earnings risk and valuation risks to optimize risk adjusted returns and mitigate downside.

Company Profile: AllianceBernstein is a leading investment-management firm with $759 billion in client assets under management, as of 30 March 2024. With a unique combination of expertise across equities, fixed-income, alternatives and multi-asset strategies, we aim to deliver differentiated insights and distinctive solutions to advance investors’ success. Across our global network, we’re fully invested in delivering better outcomes for our worldwide clients, including institutional, high-net-worth and retail investors. By embracing innovation, we seek to address increasingly complex investing challenges and opportunities. And we pursue responsibility at all levels of the firm—from how we work and act to the solutions we design for clients.

Volatility on rates remains high, caused by the uncertainty of the inflationary outlook. This creates an environment of persistently high refinancing costs for weak HY issuers and likely increasing default rates. This makes yields from subordinated debt attractive. Further, the liquidity of subordinated debt is unparalleled compared to HY, an environment shrinking in size and liquidity. Liquidity also matters from a macro point of view, as central banks may adjust rates downwards to reduce the gap between a restrictive reference rate and much lower inflation, while reducing or stopping quantitative tightening, which would kill inflation. This could become a double boost to reigniting inflation.

Subordinated debt is an asset class where investors can capture historically high yields, capable of absorbing pressure from government bonds as well as from credit spreads, without worrying over credit quality. 

Workshop Objective: The workshop will provide insight on subordinated debt which deserves more space in a balanced asset allocation, given the benefit it provides in terms of diversification, potential returns adjusted for volatility and risk exposure.

Company Profile: Azimut Group, founded in 1989 and listed on the Milan stock exchange since 2004, is one of Europe’s leading independent asset managers. With a global AUM of $100bn, Azimut manages investments across asset classes and markets, with investment capabilities in 18 countries. In MENAT, Azimut manages $12bn of global, regional, and local assets, of which $7bn are managed in the UAE. Strategies include the world’s largest global Sukuk fund as well as global fixed income, MENA equities, and private markets funds. Azimut strives to deliver sustainable growth for its investors, servicing institutional, wholesale and HNWI clients. Website: www.azimut-group.com

From the World’s largest alternative asset manager, Blackstone’s Chief Investment Strategist, Joe Zidle and Senior Investment Strategist, Anders Nielsen, provide their view on the current market environment and macroeconomic landscape and why investors should consider private alongside public markets as a core allocation in their portfolios.
Exploring the topic of why private markets and why now, this workshop will also explain the potential benefits private markets can bring to investors’ portfolios in terms of diversification, reduced volatility and enhanced performance. 

Workshop Objective: This workshop aims to provide key takeaways on why investors should consider private alongside public market investing in today’s market environment.

Company Profile: Blackstone is the world’s largest alternative asset manager. We seek to deliver compelling returns for institutional and individual investors by strengthening the companies in which we invest. Our more than $1 trillion in assets under management include global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

Investors across all 3 camps – hard landing, soft landing and no landing were spot on at different points in 2023. Is the year 2024 set up to deliver something similar? How is the MENA Fixed Income public debt universe likely to cope with a confluence of rates and spreads volatility, Brent crude weakness, geopolitics, and domestic policy reforms? How disparate are the likely prospects for risk-adjusted outcomes in MENA Fixed Income across capital structures, duration, and the ratings spectrum?

Workshop Objectives: MENA Fixed Income continues to offer discerning investors an attractive opportunity set to position for a range of outcomes on macro and policy developments with a broadly improving ratings trajectory. We will look to exhibit the investment process and strategies to capture attractive returns from some of these risk factors.

Company Profile: Emirates NBD Asset Management is owned by Emirates NBD Bank PJSC (Moodys A+), one of the largest financial institutions in the Middle East and is regulated by the Dubai Financial Services Authority. The company provides a wide range of investment solutions, from in-house managed public funds to tailor made discretionary solutions across MENA equities, fixed income and global risk profiled solutions, on either a Shari’a-compliant or conventional basis. The company is also Fund Manager for ENBD REIT, one of only two publicly traded real estate investment trusts in the UAE.

One of the largest asset managers in the Middle East, the company’s trusted, experienced and specialized team has a long track record of operating in the MENA region.

First Trust is set to unveil their AI Evaluation Framework, presented by specialist Gregg Guerin. This framework provides a structured and objective approach for assessing AI technologies, aiming to dispel market hype. It offers investment teams and professionals a simple yet robust method to make informed decisions regarding AI opportunities. Attendees will be equipped with tools to evaluate AI investments effectively, cutting through the noise. First Trust will spotlight AI solutions poised for growth, categorised into "Invest In" and "Profit From" segments. Finally, Gregg will highlight which ETFs offer compelling AI investment opportunities in the current market.

Workshop Objective: For attendees to gain a greater understanding of what Artificial Intelligence truly is and how it works. We hope attendees learn about the differences between “AI Investments.”

•    Emerging Markets Equities: will the trend finally turn?
•    A global approach to Emerging Markets investing, why it makes sense.
•    Why we need active management in Emerging Markets
•    Philosophy and process

Workshop Objectives:
•    Understanding current investment opportunities in EM
•    Benefits from active engagement in EM that lead to enhanced returns for investors

Company Profile: GIB Asset Management (GIB AM) focuses on unlocking opportunities that others don’t see in relentless pursuit of superior investment performance for our clients.
Thoughtful curiosity, rigor, and an emphasis on materiality underpin decision-making across our carefully curated strategies. We’re focused on seeking out, investing in, and supporting sustainable businesses that share our ambition to shape a better future.
Our entrepreneurial spirit and decades of investment experience unify our culture. Working together as one team bound by a common purpose – to be a force for performance, a force for better. 
GIB Asset Management has over $6bn AUM, with offices in London and New York
www.gibam.com

Introduction to Global X as a company and strategies beyond the ordinary.  The focus will be around thematic, from disruptive tech such as AI and cybersecurity through to disruptive commodities such as uranium, lithium, and copper.

In addition, there will be a discussion around strategies that offer investors an ability to stay invested in equity markets whilst providing downside protection.

Workshop Objective: This workshop aims to provide an overview of thematic investing from disruptive tech to commodities driving the transition such as uranium.

Company Profile: Global X ETFs was founded in 2008. For more than 15 years, our mission has been empowering investors with unexplored and intelligent solutions. Our  expansive product lineup features a wide range of ETFs and includes more than $56 billion in assets under management.   While we are distinguished for our Thematic Growth, Income and International Access ETFs, we also offer Core, Commodity, and Risk Management funds to suit a wide range of investment objectives. Explore our ETFs, research and insights, and more at www.globalxetfs.eu.
Global X is a member of Mirae Asset Financial Group, a global leader in financial services, with more than $598 billion in assets under management worldwide.    Mirae Asset has an extensive global ETF platform ranging across the US, Australia, Brazil, Canada, Colombia, Europe, Hong Kong, India, Japan, Korea, and Vietnam with over $119bn in assets under management. 

[1] Source: Global X, as of March, 2024

[1] Mirae Asset, as of December, 2023

Active ETFs had a breakout year in 2023. While the flow momentum for active ETFs is strong, not all investors are yet familiar with the concept. We will briefly explain the active ETF concept and look at some of the active innovative strategies available in the ETF wrapper.

Workshop Objective: Learn more about the active ETF market and discover an overview of the largest active ETFs in the UCITS sector

Investment manager Adam Darling will discuss the macro environment and the current opportunity available to investors in high yield markets, including the yields on offer and the potential to generate equity-like returns with lower volatility over the long run. Adam will discuss how robust credit research is fundamental in a deteriorating macro environment and why careful credit selection is key to generating returns and managing risk. Adam also will talk about Jupiter’s approach to high yield markets, including a focus on being active, pragmatic and risk aware. 

Workshop Objective: Attendees will have a greater understanding of how an active, pragmatic and risk aware approach to high yield credit markets can help to generate maximum returns.

Company Profile: Jupiter is a specialist, high conviction, active asset manager. We exist to help our clients achieve their long-term investment objectives. From our origins in 1985, Jupiter now offers a range of actively managed strategies available to UK and international clients including equities, fixed income, multi-asset and alternatives. Jupiter is a constituent member of the FTSE 250 Index, and has assets under management of £52.6bn /$66.4bn /€61.6bn as at 29/03/2024.
 
Independence of thought and individual accountability define us. Our fund managers follow their convictions and seek those investment opportunities that they believe will ensure the best outcome for our clients. They do this through fundamental analysis and research, a clear investment process and risk management framework, with a focus on good stewardship.

China is the second-largest economy, with growth and broad innovation across industries. Meanwhile, the current China-US valuation disparity is at a record high. Fundamental analysis suggests an attractive entry point, yet volatility persists. How can investors keep their long-term exposures while turning current volatility into potential returns? The answer could lie in the depth of China's options market, which has paved the way for tools such as covered calls and defined outcome strategies, allowing investors to generate income and fine-tune their risk/reward profile. 

Workshop Objective: To Discuss China’s outlook, ongoing recovery and ways to maintain a long term exposure while using innovative tools to harvest current volatility and protect on the downside.

Company Profile: Krane Funds Advisors, LLC is the investment manager for KraneShares ETFs. KraneShares offers innovative investment solutions tailored to three key pillars: China, Climate, and Uncorrelated Assets. Our team is determined to provide industry-leading, differentiated, and high-conviction investment strategies that offer access to key market trends. Our mission is to empower investors with the knowledge and tools necessary to capture the importance of these themes as an essential element of a well-designed investment portfolio.

Life is complex. But why should that also apply to your investments? In an increasingly complex world, BLI - Banque de Luxembourg Investments offers common sense solutions. BLI designs investment solutions that make sense: active management, patience, quality, risk awareness and ESG responsibility. Chief Investment Officer Guy Wagner has managed the BL Global Flexible EUR global balanced fund since its launch in 2005. The fund's objective is to generate a positive real (inflation-adjusted) return in euros over the medium-term through a flexible, global asset allocation strategy. The strategy combines different asset classes that are traditionally negatively correlated: primarily equities, bonds and money market instruments, precious metals and cash.

Workshop Objective: Raise awareness among investors of the potential of an active, conviction-based, non-benchmarked approach and flexible wealth management style geared to limiting the downside risk during periods of stock market correction.

The Pacific G10 Macro Rates strategy is widely acknowledged to be differentiated from many traditional macro funds. This strategy focusses on G10 sovereign bonds and interest rates, meaning the Fund does not invest in equities, credit or emerging markets. The team have developed a relative value process which harnesses inefficiencies in the pricing of interest rate products rather than forecasting their direction. For example playing curve shapes, but also investing in cross currency interest rate strategies and spreads. This is particularly pertinent at times, such as now, when confusion takes hold of financial markets. 

With increasing divergence in monetary policy across the G10 countries, coupled with continued volatility in the forward rates markets, the team’s opportunity-set looks greater than ever.

Workshop Objective:
-    G10 Macro Rates versus traditional Macro Investing
-    Relative Value Investing: Pricing Anomalies & Mean Reversion 
-    Diversification & Uncorrelated Returns 
-    Discuss Market Environment

Company Profile: Pacific Asset Management (PAM) is an independent asset manager responsible for more than $6.0bn of assets. Fresh and progressive, PAM is rethinking the conventions of how asset management works. Its single manager business focuses on high-conviction investing in less efficient markets, where it believes active managers can outperform. Alongside the Longevity & Social Change strategy, it also offers emerging market equity and G10 macro rates solutions. PAM’s technology-enabled model portfolio solutions are available on all major platforms.

The growing landscape of opportunities in private equity and more generally across private markets is offering investors a unique opportunity to capture return premiums compared to traditional public markets. 

Evergreen structures are well positioned to provide smaller investors with easier access and exposure to high quality private markets investments.

Partners Group has the longest track record in the market for evergreen private market solutions with more than 20 years of experience across various market cycles. Evergreen funds are a strategic part of our business representing USD 44bn AUM (~ 30% of our total AUM).  

Workshop Objective:
-    Education on private markets as an asset class and more specifically private equity
-    Education on evergreens and how it democratizes access for investors in a market that was traditionally reserved for institutions 
-    Deep dive on Partners Group’s unique evergreen positioning and it’s historical track record

Company Profile: Partners Group is a leading global private markets firm, with USD 142 billion in assets under management1, over 1,900 employees2, and presence across 20 offices globally. 

Since 1996, we have invested over USD 200 billion in private equity, private debt, private real estate, and private infrastructure on behalf of our clients globally. 

We seek to generate strong returns through capitalizing on thematic growth trends and transforming attractive businesses and assets into market leaders. 

We are a committed, responsible investor and aim to create sustainable returns with lasting, positive impact for all our stakeholders.

We believe that certain segments within public and private Fixed Income are currently providing one of the most attractive investment entry points we have seen in years. Instead of jumping on this opportunity, some investors are favoring bank deposits or single-line bonds. In our view, this represents a potentially large missed opportunity to capture high-quality income, benefit from diversification, and potentially lock in higher yields for longer. As we brace for Central Bank rate cuts, the window of opportunity is closing to invest in Public & Private Fixed Income markets at such compelling yields and valuations. In this presentation, we will explore some of PIMCO’s highest conviction strategies across public and private debt markets.

Workshop Objective: Leverage PIMCO’s deep expertise to uncover investment opportunities at the intersection of public and private debt.

Company Profile: PIMCO is a global leader in active fixed income with deep expertise across public and private markets. We invest our clients’ capital in income and credit opportunities that span the liquidity spectrum, leveraging our decades of experience navigating complex debt markets. Our flexible capital base and deep relationships with issuers have helped us become one of the world’s largest providers of traditional and alternative investment solutions and a valued financing partner.

Our approach is focused on investing in quality companies around the world that we can hold for the long-term. In our discussions with many of these companies, it has become clear that there are transformational secular trends underway that we believe will become increasingly important in how successful companies compete over the next decade and beyond. These are Digital Transformation, Security, and the Challenge of Climate Change.

In this Presentation Tom will cover the Fundamental Growth & Core team’s philosophy and approach; How a bottom-up process has led to in-depth thinking on the impact of mega-trends; Examples of some companies that are leaders in these areas; A profile of the team’s Global Equity Select strategy and how it is positioning in these areas.

Workshop Objective:
•    For clients to gain insights into our Fundamental Growth & Core Team's investment philosophy & approach.
•    Provide insights on how a bottom-up process has led to in-depth thinking on the impact of mega-trends such as Digital Transformation, Security, and the Challenge of Climate Change and examples of companies that are leaders in these areas. 
•    Discuss our Global Equity Select strategy and how it is positioning in these areas.

Company Profile: For four decades, State Street Global Advisors has served the world’s governments, institutions and financial advisors. With a rigorous, risk-aware approach built on research, analysis and market-tested experience, we build from a breadth of index and active strategies to create cost-effective solutions. As pioneers in index, ETF, and ESG investing, we are always inventing new ways to invest. As a result, we have become the world’s fourth-largest asset manager* with US $4.13 trillion† under our care.

 *Pensions & Investments Research Center, as of 12/31/22.
†This figure is presented as of December 31, 2023 and includes approximately $64.44 billion USD of assets with respect to SPDR products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.