Citywire Scotland Retreat 2026

Many of today’s investors have substantial cash allocations designed to reduce risk and/or help liquidity.  Are they missing out on growth and yield?  Join our Fixed Income Investment Director Mark Munro as he explains the benefits of one of the best risk-adjusted assets classes, how it can be used in portfolios and how Aberdeen’s approach differs.  Is it time for your clients to take a step out of cash into a low volatility outcome orientated fund with strong income potential?  Find out in this session.  

Workshop Objectives:

• Set the context of where valuations are in fixed income markets.
• Examine the historical risk and return characteristics of short dated credit, including evidence on its performance across different market environments.
• Assess the role of short dated credit within diversified portfolios, including how different implementation approaches and structures compare.

Company Profile:

For over a century, we've carried our Scottish spirit with us in everything we do.
Our sense of adventure has taken us to new markets. Our courage to invest, when others haven't, has unlocked global opportunities. Our resilience through challenging markets has formed the foundation of our long-term strategy.  
 It starts with discipline. Discipline directs our investment decisions. Collaboration creates clarity. And our integrity instils intention so we can keep delivering for our clients. 
 It’s what we do. It’s why we do it. It’s how we do it.
Our spirit is our strength

The investment regime – increasingly characterised by geopolitical volatility, de-globalisation and higher inflation and rates – continues to evolve at pace. Josh will explore how the Artemis Global Income team approach investing for income in a much-changed macroeconomic environment.

Workshop Objective:

By the end of the session participants will be able to identify how the investment regime has changed and how this has influenced the opportunity set for investors.

Company Profile:

Artemis was created by a group of fund managers in 1997 and remains true to its founding principles: a commitment to managing distinctive, active investment strategies and providing exemplary client service.
We give our investment teams the freedom to implement their own approaches to active management without the constraints of a house view. 
We continue to believe this is the best way to deliver exceptional returns for our clients over the long term.
Our primary objective as investors is to outperform the market and produce long-term returns for the people whose money we manage. We only use active management and do not offer passive strategies or tracker products.

As many of the world’s most innovative businesses stay private for longer, a greater share of value creation now happens outside public markets. This session explores the rise of private growth equity, the characteristics of companies in this segment, and the practical implications for returns, access and liquidity as firms delay listing.

Workshop Objectives:

By the end of this session, attendees will be able to:
1. Describe why more companies are staying private for longer.
2. Identify the defining features of private growth equity.
3. Assess how delayed listings affect access, liquidity and return outcomes.

Company Profile:

Baillie Gifford’s sole business is investment management. Since the company was founded in 1908 it has been a partnership. Today it is owned by 59 partners (as at 31 January 2026) all of whom work in the business.
We believe that the best investment ideas spring from thinking about future possibilities, not short-term probabilities. We set no barriers to the imagination of our investors, encouraging fresh perspectives and the use of diverse sources of information. We term ourselves Actual Investors.
We currently manage or advise some £196bn (as at 28 February 2026) on behalf of clients worldwide. Whilst we are predominantly an institutional manager (circa 80% of FUM), we offer an extensive range of investment trusts and open-ended funds to UK wealth managers and intermediaries.

Alex Umansky, Portfolio Manager at Baron Capital, will outline how investors with long-time horizons who embrace Disruptive Change may benefit from stronger relative performance versus benchmarks and peers across full market cycles. He will focus on two areas of Disruptive Change that he expects to offer the largest potential benefits to investors over the next 10 to 20 years– the Space Economy and Artificial Intelligence.  Both have the potential to transform the global economy, driving productivity gains and expanding global GDP far beyond current levels. The discussion will also include examples of companies leading in each area today and that he believes will benefit over the long-term. 

Workshop Objectives:

Why investing in companies that are either the agents or beneficiaries of Disruptive Change is key to outperforming benchmarks and peers over the long term with two of the most significant disruptive forces being the Space Economy and Artificial Intelligence.

Company Profile:

Baron Capital is a premier asset management firm focused exclusively on delivering growth equity investment solutions to institutions, financial advisors, and individual investors. Since its founding in 1982, Baron Capital has been united under one style of investing with a single objective–to be long-term investors in secular growth businesses with durable competitive advantages, run by great management teams. With $48.9 billion in assets under management (as of 31/12/25) across 19 strategies, Baron Capital prides itself on delivering the best solutions and outcomes for clients globally.

The US equity market has delivered an extraordinary run in recent years, powered by resilient earnings, rapid innovation and one of the strongest economic recoveries in the developed world. But this success has also created challenges: valuations in several areas, especially mega cap technology, now sit meaningfully above their long term averages and at a clear premium to other global markets. For investors, this raises an important question: how do you participate in America’s ongoing growth story without simply buying into its most expensive corners? As one of the longest running US equity strategies, Capital Group Investment Company of America seeks to harness this next chapter of America’s growth in diversified and disciplined way.

Workshop Objectives:

1. Understand why the US remains a powerful engine for long term equity returns
2. Explore the wide range of broadening opportunities across sectors that are driving the next phase of US market leadership
3. Learn how a core, diversified and research driven approach can best capture these trends by balancing resilience, participation and long term compounding

Company Profile:
Capital Group is one of the oldest and largest asset management companies in the world, managing multi-asset, equity and fixed income strategies for different types of investors.

Since 1931, Capital Group has been singularly focused on delivering superior, consistent results for long-term investors using high-conviction portfolios, rigorous research and individual accountability. We build our investment strategies with durability in mind, backed by our experience in varying market conditions. Fundamental proprietary research forms the backbone of our approach, provided by our integrated global network of more than 480 experienced investment professionals, with an average portfolio manager investment experience of 28 years.

Today Capital Group works with financial intermediaries and institutions to manage more than US$3.2 trillion in long-term assets for investors around the world.

*All data as at 30 September 2025

Markets are facing continued geopolitical fragmentation, uneven economic growth and persistent macro volatility. Against this backdrop, Fidelity portfolio manager Matt Jones will explain how absolute return equity strategies can act as a diversifier and are expected to play an increasingly important role in the future.

Workshop Objective:

Understand the mechanics of absolute return equity strategies and how they can act as a portfolio diversifier. 

Company Profile:

Fidelity International provides investment solutions, services, and retirement expertise to over 2.91 million clients worldwide. As a privately held, purpose driven firm with a 50 year heritage, we think generationally and invest for the long term. Operating across 25+ locations with $1,055.4 billion in assets, our clients include central banks, sovereign wealth funds, corporates, financial institutions, insurers, wealth managers, and private individuals.

Our Workplace & Personal Financial Health business offers individuals, advisers, and employers access to leading investment options, third party solutions, administration services, and pension guidance. Together with our Investment Solutions & Services business, we manage $736.2 billion on behalf of clients. By combining asset management expertise with workplace and personal investing solutions, we help build stronger financial futures.

The region is a success story that has yet to be embraced.  Anything that needs making in the world, Asia sits at the heart, from mass production of consumer goods to electric cars, renewable energy equipment, semiconductors and AI infrastructure to shipbuilding and capital equipment.  While Western countries are largely indebted with net foreign liabilities, Asia is a net creditor with net foreign assets, the largest share of foreign exchange reserves and well-capitalised banks.  The shifting centre of gravity in global population and incomes is already well underway: who better to capitalise? Edmund explores discusses why a disciplined focus on quality, dividend-paying businesses with persistent high returns on capital remains the best way to capture this. 

Company Profile:

Guinness Global Investors was established in 2003 by founder and chairman Tim Guinness. Its specialist disciplines of equity income, energy, innovation and Asia offer exposure to key themes to help investors achieve their investment goals. Its in-house economic, industry and company research allows it to take an independent view and not be led by the market. Its size and specialist nature also enables it to respond quickly and efficiently to market movements. It incorporates ESG factors into all its equity strategies and embraces the stewardship responsibilities which it assumes as an investment manager. Active management, high conviction and identifying value are the central pillars of its philosophy and they are delivered in the form of concentrated, equally weighted portfolios.

Europe’s small and mid-caps have rallied – so is the opportunity over? Not even close.
Despite a strong 2025, the valuation gap versus large caps remains near historic extremes. Europe isn’t in crisis, and even against a backdrop of renewed geopolitical tensions, small and mid-caps are still priced as if it were. For active investors, that disconnect could be the real opportunity.
Join us to find out why the market may be underestimating Europe’s next growth phase.

Workshop Objectives:

• Provide an overview of the European small-cap market
• Understand why now is the time to take advantage of the ‘small-cap effect’
• Learn the attributes to look for to help choose a SMID cap fund

Company Profile: 

We are an independent active asset manager that truly believes accountability drives the right outcomes from high-conviction, long-term sustainable investing. Mirabaud Asset Management is part of the Mirabaud Group, an international provider of bespoke financial and advisory services established in 1819 in Geneva, Switzerland. 
We became the independent, pure-play investment arm of the Group in 2012. Since then, we have developed capabilities across fixed income, equities, and private assets, offering a range of investment solutions that align with our clients’ objectives and share their principles. Our strong sense of purpose, deep-rooted through seven generations of private ownership, defines our approach to asset management.

Emerging Markets can be hard to love, and even harder to judge through the MSCI EM index. Vera German shares a benchmark agnostic, contrarian approach to the EM universe, where noise and mispricing are common. A practical lens on moving beyond crowded trades, assessing whether you’re truly paying for risk taken, and the key questions to ask when selecting EM managers.

Workshop Objectives:

To equip attendees with a contrarian, benchmark-agnostic framework for navigating Emerging Markets and identifying mispricing, avoiding crowded trades, and applying rigorous criteria when selecting EM managers.

Company Profile:

Neuberger is an employee-owned, private, and independent investment manager founded in 1939, with approximately 3,000 employees across 27 countries. The firm manages $563 billion across equities, fixed income, private equity, real estate, and hedge fund portfolios, serving global institutions, advisors, and individuals.
Neuberger's philosophy is grounded in active management, fundamental research, and engaged ownership. With no corporate parent or unaffiliated external shareholders, the firm remains focused on its two key constituents: clients and employees. This commitment was again recognised in 2025, with Neuberger named Best Asset Manager for Institutional Investors in the US (Crisil Coalition Greenwich) and #1 Best Place to Work in Money Management (Pensions & Investments, firms with more than 1,000 employees). Data as of December 31, 2025. Visit www.nb.com for more information.

We have long worried about the risks facing investors in traditional stock and bond allocations. After years of trending markets and crowded trades, markets have been buffeted by a series of geopolitical shocks: lockdowns, tariffs, trade wars, and kinetic wars among them. These events have disrupted the trends of past decades, creating a new environment in which to seek risk and return. In this discussion, we focus on how securities across asset classes respond to these shocks, and how investors can seek to balance risks while maintaining attractive prospective returns.

Workshop Objectives:

To equip participants with a deeper understanding of the structural risks in traditional multi-asset portfolios, how key asset classes behave across different economic regimes, and how real-world uncertainty and investor sentiment influence market dynamics—enabling them to better identify the drivers behind recessions and market sell-offs.

Company Profile:

Orbis has been creating value for clients for more than 35 years. 
We work to find opportunities others miss, but this means investing in unpopular areas of the market, which takes courage and patience. Our long-term approach is at the core of everything we do, from the way we invest, the company structure, and even the way we charge fees. 
Our team of 60 investment professionals located around the world does comprehensive research evaluating businesses from the bottom up to identify businesses priced at less than they are worth with long-term prospects. Since it can take time for these companies to realise their true value, our business is structured to avoid pressure for short-term performance with no external shareholders. Our independence allows us to prioritise clients, make bold but considered decisions and to stand by them as long as we need to. 
And our unique fee structure ensures we remain driven to deliver long-term returns.

PIMCO will explore what is happening in the Global Credit market and why this asset class is still offering alpha opportunities.

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.

The same mix of factors that powered the emerging markets rally in the early 2000s; a weaker dollar, rising commodities, and compelling valuations, has restarted to re-emerge. The Redwheel Global Emerging Markets Fund delivered strong performance in 2025, capturing this structural shift, which is now reinforced by reform momentum and falling rates.

Company Profile:

Redwheel is a specialist, independent investment manager with an active investment heritage built on a foundation of innovation, original thought, and high conviction.
The business was established in 2000 with the ambition to create an environment in which exceptional fund managers can operate with a high degree of investment autonomy and maximize the benefits of their skills over the long-term. 
The eight investment teams specialize in Sustainable & Thematic Equities, Active Engagement, Emerging Markets, Value & Income and Convertible Bonds. A total of $23.6bn (as at 30 January 2026) is managed across these strategies on behalf of clients who include some of the foremost global institutions and advisors.  
With 155 people, including 52 dedicated investment professionals, Redwheel has offices in London, Copenhagen, Miami, and Singapore. 

Polina Kurdyavko (Head of RBC BlueBay Emerging Market Debt) will dispel the myths around EMD.  She will discuss the huge opportunities within the EMD market using a unconstrained investment approach.

Workshop Objectives:

Gain a greater understanding of Emerging Market Debt markets and the vast amount of opportunities that a unconstrained approach can deliver.

Company Profile:

RBC BlueBay is an active investment manager partnering with clients to deliver optimal outcomes across fixed income, equities and alternatives. Our solutions-driven approach means we endeavour to empower our clients with the knowledge they need to help shape their investment decisions. We work and evolve with our clients, creating and customising investment products that meet their needs.
We operate with total transparency throughout the business, providing clients with direct access to our investment teams and fostering a culture that encourages opportunity, resulting in a thoughtful and inclusive organisation that puts people first and delivers for clients.
Responsible investment is embedded across our business. This means it is not just an investment focus but is also ingrained in our client service experience.

After last year’s box-office hits Mad Trump: Fury Road, fixed income investors could be forgiven for hoping the sequel would be a little calmer. Instead, the franchise has returned with a bigger cast, a more unpredictable script, and plenty of plot twists: sticky inflation, shifting central-bank expectations, fiscal worries, geopolitical tension, and a market still trying to decide whether it is watching a soft landing, a hard landing, or a director’s cut with three alternative endings.
In this year’s presentation, we return to the fixed income jungle to examine where income, resilience and return potential can still be found. We will explore how an active, flexible approach can help investors navigate changing rate expectations, credit dispersion and macro uncertainty, while highlighting the role of the Schroder Strategic Bond fund in seeking opportunities across global bond markets without being tied to a single storyline.

Company Profile:

Schroders is a leading global active asset manager, with approximately $1.1 trillion in assets under management as at 31 December 2025. A UK-listed FTSE 100 company, it employs over 5,000 people across 30+ locations. Founded in 1804, it remains family-influenced, with the Schroder family holding a significant stake. Its diversified model spans public and private markets, wealth and solutions, serving a global institutional and wealth client base.

In a world where markets and economic conditions are constantly changing, and expectations for many value companies remain low, the opportunity set for investors is becoming increasingly compelling. 
In this session, we’ll share our latest perspectives on global markets though a value lens, highlighting the areas we believe present the best opportunities for active managers.
We’ll also introduce the T. Rowe Price Global Value Equity strategy, focusing on how a research-driven approach focusing on fundamentals, seeks to identify underappreciated companies across global markets.

Workshop Objectives:

• Explain the current global market backdrop from a value investing perspective, including how changing economic and market conditions are influencing opportunities across regions and sectors.
• Identify where value opportunities may be emerging in global equity markets, particularly in areas where company expectations remain low and active managers may be well positioned to uncover mispriced investments.
• Understand the key principles of a research-driven global value equity approach, including how fundamental analysis can be used to identify underappreciated companies.
• Assess the role of active management in global value investing, especially in environments where dispersion in valuations and company fundamentals may create attractive stock selection opportunities.

Company Profile:

About T. Rowe Price
With more than 85 years of experience, we provide a broad range of investment solutions across equity, fixed income, and multi-asset capabilities for clients around the world—from advisers and intermediaries to institutions and pension funds. As a premier active investment manager, we are deeply focused on our clients’ investment objectives, forming strong partnerships to help achieve their long-term financial goals.

With $1.80 trillion in assets under management, we’re one of the world’s top 25 asset managers. Our teams operate in 17 markets globally, gaining firsthand insights from companies, suppliers, and regulators to uncover opportunities others might miss. More than 520 investment professionals drive our research-led approach, helping clients navigate volatility through experience—57% of our current portfolio managers held investment roles during the global financial crisis. This depth of insight, combined with our consistent active approach, supports better outcomes over the long term. 

As of 31 December 2025.

The session will consider how Equity Income exposures can support portfolios in an evolving market landscape shaped by inflation, volatility, and policy change. We will also present different approaches to dividend investing, including strategies that focus on nominal dividend contribution rather than percentage yield. Delegates will assess how these ETFs can be integrated to enhance diversification, align with structural macro themes, and support client outcomes.

Workshop Objectives:

Delegates will explore global equity income strategies and how they can potentially be used within diversified portfolios in the current macroeconomic environment.

Company Profile:

Family owned and founded in 1955, VanEck is a global investment manager with over $240 billion in AUM globally. We offer forward thinking investment solutions designed to enhance portfolios, with assets primarily held in intelligently designed ETFs that provide targeted exposure to emerging industries, asset classes and markets, alongside innovative core strategies. In Europe, VanEck has over $46 billion in AUM, with the majority held across 38 UCITS ETFs. These span thematic strategies, hard assets and mining equities, strategic core equity exposures, dividend stocks, specialised fixed income and more. We monitor economic, technological, political and social trends that are shaping markets, and develop investment strategies that provide exposure to them. With a long history in international investing, gold and ETFs, VanEck offers both core and specialised exposures across a broad range of asset classes. (data as of 27May26)

European defence has shifted from cyclical trade to structural allocation. This workshop explains how higher-for-longer geopolitical risk is reshaping budgets, procurement and order books across Europe, and why the spillovers are global across munitions, air and missile defence, drones, space, cyber and dual-use electronics. We will compare Europe’s ‘strategic autonomy’ push with US and Asian defence dynamics, highlight where capacity constraints sit in the supply chain, and discuss what could change the narrative—ceasefire headlines, fiscal limits, or a sharper rate shock. The session concludes with practical portfolio framing: how to size defence exposure, manage volatility, and differentiate “rearmament winners” from broader aerospace cyclicals. We will also touch on valuation, earnings momentum, and why Europe can be a cleaner defence expression than US primes.

Workshop Objectives:

Equip investors to frame defence as a strategic allocation: identify key spend drivers, map Europe vs US/Asia exposures, and translate geopolitics into portfolio sizing, risk controls, and client-ready talking points.

Company Profile:

WisdomTree is a global financial innovator and the world’s largest independent ETP provider, with $136 billion in assets under management globally (as of 29 October 2025). Since launching in Europe in 2014, WisdomTree has built one of the region’s most diverse and innovative UCITS ETF and ETP ranges across commodities, equities, fixed income, currencies, and digital assets. Combining research-driven design with industry-first products, WisdomTree helps investors access unique opportunities and diversify portfolios in a transparent and efficient way.