| 8.00 am |
registration with coffee and tea |
| 8.40 am |
chairman's opening remarks |
| |
session 1:
Current topics in bond management |
| 8.45 am |
New approaches and instruments in bond management
- Using guidelines more efficiently– making use of the degrees of freedom
- Traditional and innovative sources of bond-returns – a strategy menu
- Performance equals alpha + portfolio construction + risk management
- Which additional sources of performance are provided by credit derivatives?
- Fixed Income Management 2017: A scenario for markets and products
Christian Eckert, ABN AMRO Asset Management, London, United Kingdom |
| 9.40 am |
Non Investment Grade: Is there any value in the cross over market?
- The development of the zone between Investment Grade and High Yield
- What do default models tell us?
- What are the interdependencies between US and European Cross-over Credits
- The link between equity and credit
- Bonds versus Default Swaps: An Example
Rajnish Kamat, MSCI Barra, Berkeley, USA |
| 10.45 am |
break with coffee and tea* |
| |
session 2:
New ideas for equity portfolios |
| 11.15 am |
How important is liquidity in equity portfolios?
- Liquidity and its impact on the efficiency of trading strategies
- Is there a return premium for illiquidity?
- Shocks to liquidity are often systematic and persistent
- Is it the level of liquidity or the sensitivity to changes in liquidity that commands a return premium?
- How do we manage the liquidity risk/return tradeoff?
Prof. Robert Korajczyk, Ph.D., Professor of Finance, Kellogg School of Management,
Northwestern University, Evanston, USA. |
| 12.30 pm |
lunch
Sponsored by KBC Asset Management |
| 2.00 pm |
Value und Small Caps forever? Should any other styles be considered?
- After the boom for growth stocks and the bust: now value boom and then…?
- Is there a comeback for Large Caps?
- Can you benefit from investment style cycles?
- Which value added is provided by style-diversification?
- Popular misconceptions about Value-equities and Small Caps
Dr. Klaus Teloeken, RCM/Allianz Global Investors, Frankfurt, Germany |
| |
session 3:
Current challenges for institutional investors |
| 2.50 pm |
Liability Driven Investment: Meander or innovation?
- Is LDI a niche strategy or a mega trend?
- How extensive is fuzziness in liability projections
- Opportunities and challenges in the implementation of LDI strategies
- How can tactical approaches be considered?
- Simulating the success potential: The impact of duration on the corporation´s value
Dr. Christoph Kesy, E.ON Energie, Munich, Germany |
| 3.40 pm |
Refreshment break with coffee and tea* |
| 4.10 pm |
Strategic asset allocation of a longterm investor
- From exporting oil to an institution with 200 bn. EUR assets under management
- Does an equity share of 60 percent meet our needs?
- The potential of waiving portfolio restrictions: Short-Selling, derivatives, Non Investment Grade
- Concepts for “socially responsible” investment policies
- The determination and rationing of tracking error
Björn G. From, Norwegian Ministry of Finance, Oslo, Norway |
| 5.00 pm |
Panel discussion: Asset Allocation 2010 – Strategic trends in
institutional asset management
- Which role do Alternative asset classes play today and tomorrow?
- What is the potential of separating Alpha and Beta?
- How should the duration of bonds portfolios be adapted?
- Direct investing vs. employing external managers – What is the trend?
Björn G. From, Norwegian ministry of Finance, Oslo, Norway
Dr. Thomas Mann, Gothaer Asset Management, Cologne, Germany
Kai Otto, Volkswagen Pension Trust, Wolfsburg, Germany |
| 6.00 pm |
Cocktail reception sponsored by Principal Global Investors |
| 7.00 pm |
Evening event with Dinner, Varieté und Tombola
Sponsored by First Private Investment Management
The Varieté will be performed by Tigerpalast and sponsored by Pictet Asset Management. Please enjoy the entertainment by international top artists - arranged by the founder of Tigerpalast, Johnny Klinke. |
| 10.30 pm |
end of the first conference day |
| |
* Fidelity International invites you to the refreshment breaks. |
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