The story has been one of the bursting property bubble that will bring China to its knees.  But is that really true?  A systematic analysis suggests that China’s financial system has more than enough capital to deal with a shrinking property sector that the government itself has engineered.  Indeed, China has been preparing this for years. 

The talk will present a framework to allow investors to form an informed opinion as to the current China risks, how they can be navigated and the investment opportunities that exist in Asia, EM and in China.

Company Profile: Guinness Global Investors is an independent active fund manager specialising in long-only equity funds and private equity investments and established in 2003 by founder and chairman Tim Guinness. Our specialist disciplines of equity income, energy, innovation and Asia offer exposure to key themes to help investors achieve their investment goals. Active management, high conviction, value and stewardship are central to our philosophy and they are delivered through concentrated, equally weighted portfolios.

UK equities appear to have had a period on the side lines, not helped by the constant flow of negative headlines. After the region came back into favour through 2022, UK Equity Income Portfolio Manager, Jo Rands, still thinks that there are plenty of reasons to believe in the UK. Large caps in particular remain a natural hunting ground for dividend and dividend growth investors alike. Jo will present the case for FTSE 100 investing as well as the attractive characteristics that are prevalent in her high conviction, actively managed income portfolios.

Attendees will learn how FTSE 100 businesses can generate a diversified stream of revenues and what parts of the UK market are most attractive to dividend investors.

Company Profile: Martin Currie is a global active equity specialist headquartered in Scotland and part of the Franklin Templeton Group. They are a modern, vibrant investment firm with a truly global presence. Martin Currie create concentrated, best-idea investment portfolios that retain conviction in fast-changing markets. These are delivered through innovative strategies, powerful conversations and a high stewardship philosophy. In everything we do we are investing to improve lives.
Martin Currie provides the environment and infrastructure for talented investors and teams to succeed, removing them from all distractions and to focus on generating investment returns.
Investing to Improve Lives lies at the heart of their purpose as an investment firm.

After the boom years of the ‘80s, the Japanese market went through a prolonged period of under-performance. As a consequence of the interlocking business relationships and shareholdings characteristic of the Japanese Keiretsu system, corporate management teams were not always motivated to make decisions to maximize shareholder value and hoarded cash.
With the governance revolution now taking place, including a new stewardship code (2012), and with the support of the Tokyo Stock Exchange – the landscape is changing and Japan now offers an increasingly compelling investment opportunity for equity income investors. This plays out in several ways including increased dividend pay-outs for investors, increased return of capital as balance sheets are right-sized, and increased share buy-backs, boosting both earnings per share and dividends per share.
This combination present a very promising outlook for dividend growth, and therefore income investors, in Japan.

Workshop Objective: To describe the compelling multi-year equity income investment opportunity in Japan and how Zennor seeks to capitalise in this changing landscape.

Company Profile: Zennor Asset Management is a boutique asset management firm founded in 2020 focused on compounding capital over the long term. Zennor does this through a focus on capacity-limited, highly differentiated strategies. The experienced managers seek out assets trading meaningfully below their intrinsic value with clear catalysts to drive performance. Zennor manages over £400 million in assets in two strategies, the Zennor Japan strategy launched in February 2021 and the Zennor Japan Income strategy launched in April 2023. Zennor is a signatory to the UN PRI and supports the Japan Stewardship Code.

Over the past decade, investors in emerging markets have tended to concentrate their exposure within a limited group of high-quality growth companies. This leaves many pockets, countries and industries with significant alpha and investment opportunities, in what is a vast and attractive but complex and inefficient opportunity set.

Dan will discuss his approach to finding “forgotten” stocks in emerging markets that offer significant upside potential due to an improvement in the fundamentals, and the interesting opportunities being overlooked by mainstream emerging equity funds.

Gain insight into the Emerging Markets market backdrop and the risks and opportunities the market may be missing.

Company Profile: Founded in 1937 during the Great Depression, T. Rowe Price is built on the enduring philosophy of our founder; meeting clients’ individual needs. For over 80 years and through changing investment and economic environments, the core principles that guide our business have remained the same. Today, T. Rowe Price is one of the largest investment firms in the world, managing £1.1 trillion* for clients in 56 countries.

*As at 31 December 2022

The 'magnificent 7,' constituting nearly 25% of the S&P 500, have been the primary forces behind its YTD performance, an allocation that might unsettle investors, especially given that this level of concentration could leave your portfolio vulnerable to one particular sector. In this landscape, our strategy, inspired by Warren Buffett’s strategy, shines. We leverage Morningstar's equity research across 1500 companies, pinpointing those with 'Wide Moats,' firms expected to maintain formidable competitive advantages for 20 years, ensuring they remain robust against competitors, all while trading at prices that offer attractive value. This methodology isn't just theoretical; our index has bested the S&P 500 by 410% in GBP and 270% in USD since 2007. If performance persists, our US index will have triumphed over the S&P 500 in 10/16 years, offering a reliable avenue for equity investment in a market rife with uncertainties.

Workshop Objectives: Investors will gain insight into Morningstar's equity research, identifying Wide Moat firms, Fair-Value assessments, index performance highlights, and why our suite of Wide Moat philosophy ETFs belongs in core portfolios.

Company Profile: Established in 1955, VanEck is a global ETF and fund provider with nearly $80 billion in AUM. Our global presence extends from the US to Asia, Australia, and across Europe, positioning us as a top 10 ETF provider in the US.
At the core of our operations is a commitment to provide investors with forward-looking opportunities that strengthen their portfolios. We are renowned for pioneering ventures such as Gold Mining funds, Esports, Semiconductors, Rare Earths, MOATS and the intriguing Fallen Angels sector. As early entrants in US asset management, we've embraced international markets and realized the transformative potential of diverse investments.
Today, our portfolio encompasses both core investment strategies and specialized exposures, offering our clients a comprehensive toolkit for diversification. VanEck stands as a beacon of financial innovation in the UK and beyond, assisting investors in navigating the ever-evolving landscape of global finance.

• The dispersion of equity factors has reached new heights, creating investment opportunities for investors.
• Given the uncertain macroeconomic trajectory, a quality and value barbell allocation may be an appropriate strategy for investors seeking to balance the risks of inflation, current valuations and increasingly concentrated indices.
• Factor investing offers a granular approach to investing that can help reduce risk and enhance returns. However, the principles of this approach can be applied to portfolio construction more broadly.

Xtrackers ETFs by DWS is one of the world’s most established ETF providers with a worldwide footprint and over €150 billion in assets under management in Europe alone (as at August 9th, 2023)¹. We have an index tracking record going back over 20 years and offer over 190 ETFs on various asset classes, including equity, fixed income, money market, currencies and commodities. Xtrackers has an established range of Core products providing efficient exposure to major equity and bond indices, as well as a growing range of Thematic and ESG (environmental, social and governance) focused funds.

ETFs by Xtrackers are listed on a number of stock exchanges across Europe, Asia, and in the US, and are supported by a range of market makers.