21st Annual Portfolio Management Conference

05.06.2018 - 06.06.2018
Hotel Hilton Frankfurt City Centre
Number of
1.995,00 €
net (plus 19 %VAT)

Target Group

Managing Directors and Senior Executives from

  • Institutional investors as Corporates, insurance companies, pension institutions or foundations in the fields of asset management, treasury, finance and financial risk controlling;
  • Banks and Asset Management Companies in the fields of treasury, portfolio management, institutional asset management, research, investment controlling, marketing, sales and trading desk;
  • Investment consultants and other specialized service providers with a focus on (institutional) asset management


5 - 6 June 2018

Day 1: Tuesday, 5 June 2018

Moderation: Andreas Metzen, Uhlenbruch, Bad Soden am Taunus, Germany

08:00 Registration
08:45 Opening remarks

Module 1: Prospects for the Global Economy, Europe, Asia and the Capital Markets

09:00 Die politische Zukunft Europas, der Euro und die geldpolitischen Krisenherde

Dr Theo Waigel, Waigel Rechtsanwälte, Munich, Germany

10:00 2 Strategen, 2 Meinungen: Makroökonomische Großwetterlage und aktuelle Anlageopportunitäten

Dr Jürgen Odenius, PGIM Fixed Income, Newark, USA

11:00 Networking break and refreshments

11:30 Demystifying China's Belt and Road Initiatives

Xiao Fu, Bank of China, Peking, China

12:30 Lunch

Module 2: Fresh Approaches to Asset Allocation

14:00 Asset Allocation Insights – Challenges to Asset Allocation in Times of High Valuation Everywhere

James Montier, GMO, London, UK

14:45 How to Deal with Liquidity Risks?

Dimitris Melas, MSCI, London, UK

15:30 Networking break and refreshments

16:00 Podiumsdiskussion: Liquide versus illiquide Investments – Wo liegen die Unterschiede für Investoren?


Module 3: The World of Tomorrow – Trends and New Topics for Investing

17:00 Quo vadis USA?

John B. Emerson, Capital Group, Los Angeles, USA & recent United States ambassador to the Federal Republic of Germany

18:00 Networking cocktail reception

19:00 Evening event with Philipp Köster – Founder and Editor-in-chief of the football magazine "11 Freunde"

Day 2: Wednesday, 6 June 2018

Moderation: Andreas Metzen, Uhlenbruch, Bad Soden am Taunus, Germany

08:00 Registration
08:55 Opening remarks

Module 3 (continued): The World of Tomorrow – Trends and New Topics for Investing

09:00 Megatrends: Future Driven Innovation – The Trend is Shaping the Product

Claus Kjeldsen, Copenhagen Business Institute for Future Studies, Copenhagen, Denmark

10:00 Go digital or go home – Die Zukunft des Asset Managements

Thorsten Michalik, Deutsche Asset Management, Frankfurt am Main, Germany

10:45 Networking break and refreshments

Module 4: Topical Key Issues for Instiutional Capital Investment

11:15 Visualizing and Understanding Systemic Risk

Ren Cheng, Fidelity Investments, Boston, USA

12:00 Lunch

13:30 The Past, Present and Future of Factor Investing

Dr Andrew Ang, BlackRock, New York, USA

14:30 Aktives Management – Ist Alpha heute noch nachhaltig erzielbar?

Dr Jochen Kleeberg, alpha portfolio advisors, Kronberg im Taunus, Germany

15:15 Podiumsdiskussion: Lösungsansätze für die instiutionelle Kapitalanlage im Umfeld niedriger Zinsen, hoher Bewertungen und zunehmender Risiken

Mag. Günther Schiendl, VBV-Pensionskasse, Vienna, Austria

16:00 End of conference and farewll to participants


Dr Andrew Ang
Dr Andrew Ang

Andrew Ang, PhD, Managing Director, coordinates BlackRock’s efforts in factor investing. He leads BlackRock’s Factor-Based Strategies Group which manages macro and style factor multi-asset funds. The group optimizes factors to help meet investment outcomes, such as retirement savings, factor advisory mandates and bespoke factor solutions, and develops factor analytics tools leveraging BlackRock’s Aladdin platform.
Throughout his career, Dr Ang has focused on identifying and harvesting factor risk premiums within and across asset classes. Before joining BlackRock in 2015, Dr Ang was Chair of the Finance and Economics Division and the Ann F. Kaplan Professor of Business at Columbia Business School. He has published widely on equities, fixed income, asset and factor allocation, and alternative assets. His book, "Asset Management: A Systematic Approach to Factor Investing" is a comprehensive guide showing how factor risk premiums can be harvested in portfolio design and incorporated in all aspects of investment management. As a professor, Dr Ang worked with several large institutional managers as an advisor and consultant.
Dr Ang earned a BEc(Hons) degree in actuarial studies from Macquarie University, and a PhD in finance and MS in statistics from Stanford University.

Ren Cheng
Ren Cheng

Ren Cheng is a research consultant in the Global Asset Allocation (GAA) group at Fidelity Investments. In this role, Mr Cheng is responsible for training analysts and developing new ideas.
Prior to assuming his current position in 2009, Mr Cheng held various roles within GAA, including chief investment officer and managing director. Previously, he served as a portfolio manager at Fidelity Management & Research Company (FMR Co.).
Before joining Fidelity in 1994, Mr Cheng was an analyst and portfolio manager at Putnam Investments. He has been in the investments industry since 1985.
Mr Cheng earned his bachelor of arts degree in economics from National Taiwan University and his master of arts degree in economics from Brown University. He is currently a PhD candidate in economics at Brown University.

Olgerd Eichler
Olgerd Eichler

Olgerd Eichler has been a portfolio manager at MainFirst since 2007. He is responsible for the MainFirst Top European Ideas Fund as well as the MainFirst Germany Fund. After working at Citibank, Olgerd Eichler managed a total of 8 international public and special funds with a total volume of over €8 billion from 2000 to 2007 at Union Investment. In the course of his many years in the investment industry, Olgerd Eichler was repeatedly awarded for outstanding fund management. Most recently, he received a Citywire AAA rating in August 2016 and has received Sauren gold medals for excellent fund management for three consecutive years. In addition, he is among the few portfolio managers worldwide to date to achieve a top decile ranking in both European and American as well as global equities for one, three and five years – at different time periods and in different market phases.

John B. Emerson
John B. Emerson

John B. Emerson is a global relationship manager and vice chairman of Capital Group International, Inc. He has 16 years of industry experience, all with Capital Group. He was most recently the United States ambassador to the Federal Republic of Germany. In 2015, John was awarded the State Department's Susan M. Cobb Award for Exemplary Diplomatic Service, which is given annually to one non-career ambassador. Prior to accepting the ambassador posting, John was president of Private Client Services for the Capital Group Companies. Before joining Capital, he was deputy director to President Clinton where he coordinated his economic conferences, served as the president’s liaison to the nation’s governors, and led the administration’s efforts to obtain congressional approval of the GATT Uruguay Round Agreement and the extension of China’s MFN trading status. Before that, John served as Los Angeles Chief Deputy City Attorney, and was a partner in the law firm of Manatt, Phelps, Rothenberg, and Phillips. Additionally, he was appointed by President Obama to serve on his Advisory Committee for Trade Policy and Negotiations. He holds an honorary doctor of laws degree from Hamilton College, a juris doctorate degree from the University of Chicago and a bachelor’s degree in philosophy from Hamilton College. John is based in Los Angeles.

Xiao Fu
Xiao Fu

Xiao Fu is a Global Strategist and the Head of Commodity Markets Strategy at Bank of China International. Xiao's team focuses on global macro trends, China economics and commodities.
Xiao has extensive experience interacting with clients across Europe, Asia and Americas. She regularly speaks at global conferences and is frequently quoted by Bloomberg, Reuters, FT and Wall Street Journal.
Before joining BOCI, Xiao worked as a macro and commodity economist at Deutsche Bank in London. She majored in Economics at the London School of Economics.

Dr. Jochen Kleeberg
Dr. Jochen Kleeberg

Dr. Jochen Kleeberg is founding partner and managing director of alpha portfolio advisors. He is responsible for manager selection. Until the end of 1996 he headed the German office of Barra International where he had been employed since 1991. Dr. Kleeberg studied business administration at the University of Münster where he also earned his doctor's degree in finance. He is a frequent speaker at industry conferences as well as seminars and is also co-editor of four handbooks all published by Uhlenbruch Verlag: "Hedge Funds" (2005), "Asset Allocation" (2003), "Portfolio Management" (2002) and "Spezialfonds" (2000).

Philipp Köster
Philipp Köster

Philipp Köster, Jahrgang 1972, ist Gründer und Chefredakteur des Fußballmagazins "11 Freunde". Er sammelt Trikots und Stadionhefte, kennt den rumänischen Meister von 1984 und kann die Startelf von Borussia Dortmund im Relegationsspiel 1986 gegen Fortuna Köln auswendig aufsagen. Außerdem ist er Autor zahlreicher Fußballbücher, unter anderem über die Geschichte der Fußball-Bundesliga, und wurde 2010 als "Sportjournalist des Jahres" ausgezeichnet. Und vor allem: Anhänger des ruhmreichen Zweitligisten Arminia Bielefeld. 

Dimitris Melas
Dimitris Melas

Dimitris Melas is Managing Director and Global Head of Equity Research at MSCI. Dimitris leads a team of researchers located in several cities around the world. The team develops all MSCI equity indexes and equity models and works with investors to help them integrate these tools into their investment process.
Prior to joining MSCI in 2006, Dimitris worked at HSBC Asset Management as Head of Research and Head of Quantitative Strategies. At HSBC, Dimitris was also a member of the Global Investment Strategy Group, the senior committee responsible for setting investment strategy and asset allocation policy.
Dimitris is a Chartered Financial Analyst (CFA) and holds an MSc in Electrical Engineering, an MBA in Finance, and a PhD in Financial Mathematics from the London School of Economics.
He currently serves as Editorial Board Member of the Journal of Portfolio Management and has published several research papers in academic and industry journals. His paper "Efficient Replication of Factor Returns" was voted "Best Index-Related Research Paper" at the 6th Annual William F. Sharpe Indexing Achievement Awards.

Andreas Metzen
Andreas Metzen

Andreas Metzen studied macroeconomics at the University of Cologne and the Stockholm School of Economics. After having graduated with distinction in 2008, he worked until December 2013 for Oppenheim Kapitalanlagegesellschaft as a senior analyst in the fields of risk analysis and performance measurement. Since January 2014, Andreas Metzen is managing director of Uhlenbruch GmbH.

Thorsten Michalik
Thorsten Michalik

Thorsten Michalik, Managing Director and Head of Global Client Group EMEA & APAC at Deutsche Asset Management in Frankfurt, joined the company in 2000 with 4 years of industry experience. Prior to his current role, Thorsten served as Head of Passive Asset Management for the Global Client Group. Before that, he was Global Head of db X-trackers and db-X ETC. Previously, he worked as Head of Warrants for Deutsche Securities Asia Limited and in Global Equity Derivatives Sales. Prior to joining, Thorsten was a Foreign Exchange Warrants Trader at UBS.
Thorsten Michalik holds a BA in Business and Management Administration from the Polytechnic of Konstanz.

James Montier
James Montier

James Montier is a member of GMO’s asset allocation team. Prior to joining GMO in 2009, he was co-head of Global Strategy at Société Générale. He is the author of several books including Behavioural Investing: A Practitioner’s Guide to Applying Behavioural Finance; Value Investing: Tools and Techniques for Intelligent Investment; and The Little Book of Behavioural Investing. James is a visiting fellow at the University of Durham and a fellow of the Royal Society of Arts. He holds a B.A. in Economics from Portsmouth University and an M.Sc. in Economics from Warwick University.

Dr Jürgen Odenius
Dr Jürgen Odenius

Jürgen Odenius, PhD, is a Managing Director and Economic Counsellor at PGIM Fixed Income. As a senior member of the Macroeconomic Team, Mr Odenius covers the European region and is responsible for building and enhancing the Firm’s country analytical framework. Mr Odenius joined PGIM Fixed Income in April, 2011 from the International Monetary Fund (IMF). As Mission Chief in the IMF’s European Department, he was responsible for several emerging and developed countries. Previously, he formulated the IMF’s macro outlook for Germany and extensively contributed to the IMF’s capital markets outlook. Earlier, he served as an emerging markets strategist at UBS and economist for SBC Warburg in London. Mr Odenius has authored numerous articles for the IMF’s Global Financial Stability Report and its country publications. He received a BA in Business and Economics from Bonn University in Germany, an MA in Economics from the European University Institute in Italy, and a PhD in Economics from the University of Pittsburgh.

Mag. Günther Schiendl
Mag. Günther Schiendl

Mag. Günther Schiendl ist seit 2008 im Vorstand der VBV Pensionskasse für Veranlagung, Verwaltung/ Mathematik, IT und Rechnungswesen/Controlling, zuständig. Im Vorstand der VBV Betriebliche Altersvorsorge AG verantwortet er die u.a. die Bereiche Veranlagung, IT und Strategieentwicklung. Er beschäftigt sich mit Pension Plan Design, Asset Liability Optimization sowie Asset Allocation und Investment Strategy. Die VBV Pensionskasse veranlagt über sechs Milliarden Euro, die VBV Gruppe über neun Milliarden Euro.
Von 2000 bis 2008 leitete Schiendl die Veranlagung der APK Pensionskasse und APK Vorsorgekasse. Als Leiter der Produktentwicklung der Wiener Börse führte der Veranlagungsexperte die CECE-Derivate und Index-Produkte ein. Schiendl war zudem für die Erweiterung der ATX-Indexfamilie und die Einführung des Immobilien-ATX verantwortlich. Von 1990 bis 1992 leitete er die Research-Abteilung der Bank Austria für österreichische Aktien.
Neben dem Master of Economics and Business Administration der Universität Innsbruck verfügt Günther Schiendl über einen CEFA-Abschluß. Als Mitglied des EDHEC-Risk Advisory Board der EDHEC Business School Nice leistet er einen aktiven Beitrag zur Lenkung der angewandten akademischen Finanzmarktforschung. Als ehemaliger Lektor in Finance an der WU Wien vermittelte er die Problemstellungen und Lösungen der Praxis an Studenten im Rahmen von Graduate und MBA Programmen und im Rahmen des CEFA-Lehrgangs der Österreichische Vereinigung für Finanzanalyse und Asset Management referierte und prüfte er bis 2015 den Themenbereich "Pension Fund Asset & Liability Management".
Schiendl ist darüber hinaus Mitglied des Vorstandes der Gesellschaft für Zukunftssicherung und Altersvorsorge – Denkwerkstatt St. Lambrecht, stellvertretender Vorsitzender des Aufsichtsrates der GHS Senior Housing AG und Mitglied des Investorenbeirates in zwei internationalen Immobilienfonds.

Dr Theo Waigel
Dr Theo Waigel

Theo Waigel, geboren am 22. April 1939 in Oberrohr (Schwaben), absolvierte nach seinem Abitur in Krumbach im Jahr 1959 das Studium der Rechts- und Staatswissenschaften in München und Würzburg. 1967 schloss er das Studium mit einer Promotion und dem zweiten juristischen Staatsexamen ab und arbeitete als Gerichtsassessor bei der Staatsanwaltschaft am Landgericht München I. Von 1969 bis 1970 war Theo Waigel als persönlicher Referent von Anton Jaumann im Bayerischen Staatsministerium der Finanzen tätig, von 1970 bis 1972 im Bayerischen Staatsministerium für Wirtschaft und Verkehr.
Waigels politische Laufbahn begann als Kreisvorsitzender der Jungen Union Krumbach von 1961 bis 1970. In den Jahren 1966 bis 1972 war er auch Mitglied des Kreistages Krumbach. Zwischen 1967 und 1971 wirkte er außerdem als Bezirksvorsitzender der Jungen Union Schwaben, im Anschluss von 1971 bis 1975 als Landesvorsitzender der Jungen Union Bayern. Von 1973 bis 1988 fungierte er als Vorsitzender der Grundsatzkommission der CSU, in den Jahren 1987 und 1988 als Bezirksvorsitzender der CSU Schwaben. Von 1988 bis 1999 war Theo Waigel Vorsitzender der CSU.
Theo Waigel war von 1972 bis 2002 Mitglied des Bundestages. Im Oktober 1982 wurde er zum Vorsitzenden der CSU-Landesgruppe und zum 1. stellvertretenden Vorsitzenden der CDU/CSU-Fraktion gewählt. Den Vorsitz hatte er bis zum 21. April 1989 inne, als er zum Bundesminister der Finanzen berufen wurde. Das Amt begleitete er bis zum 26. Oktober 1998.
In den Jahren 1999 bis 2014 war Waigel für die Kanzlei GSK Stockmann + Kollegen tätig. Seit 2016 wirkt er als Of-Counsel in der Kanzlei WAIGEL Rechtsanwälte in München. Zwischen 2009 und 2012 fungierte er als Compliance Monitor bei Siemens. Theo Waigel ist katholisch, verheiratet und hat drei Kinder.

Venue and Hotels

Venue is the Hotel Hilton Frankfurt City Centre in Frankfurt am Main.

Hilton Frankfurt City Centre
Hochstraße 4
60313 Frankfurt am Main

Telefon +49 69 133 80 23 05
Fax +49 69 13 38 20

A limited number of rooms has been allocated at the Hilton Frankfurt City Centre.
The room rat is € 240.- per single room incl. breakfast per night.

Email for reservation: reservationteam.frankfurt@hilton.com
Phone: +49 69 13380 2323

Please reserve directly with the hotel, making reference to this conference (keyword: 21st Annual Portfolio Management Conference). Please note: The attendance fee does not include accommodation costs.

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