Lonsec Symposium 2023 – Back to Basics
Back to Basics
Lonsec Symposium 2023
That’s a wrap!
Thank you for joining us at Lonsec Symposium 2023. We’re proud to deliver a great conference with over 1100 participants.
Partner Insights
We are proud to present curated insights and ideas from our partners and keynote speakers
About
Following a sell-out event last year, we are again bringing together leading fund managers, commentators, and industry participants to discuss the investing outlook as we go ‘Back to Basics’.
During the last decade, economies and markets shifted into the uncharted territory of ultra-low interest rates, ample liquidity, and strong capital growth from equities. While many commentators were questioning whether this was “the new norm”, it created an environment where the focus on risk was marginalised as the strength of equities overtook the need to have negative yielding bonds in portfolios. However, our world has changed yet again with the aggressive reappearance of inflation. Interest rates are rising, equity markets and bonds have experienced negative returns, and inflation is here to stay and already making a dent in our everyday living expenses.
With the need for a more sophisticated and nuanced approach to portfolio construction, this Lonsec Symposium will focus on how to evaluate and manage multifaceted portfolio risks and what fundamentals to look for when evaluating investment opportunities.
A full schedule of the Lonsec Symposium will be available in the coming weeks.
Seats are limited, so register today to secure your spot.
Lonsec is committed to providing ongoing education opportunities for all our clients and as such, this event is free to attend. CPD points will be available for all sessions of the Lonsec Symposium you attend.
Agenda
08.30 - 09.00
09.00 – 09.15
Welcome
09.00 – 09.15
09.15 - 10.00
Session #1 Geopolitics | The return of history and polycrisis
Keynote Speaker
Prominent American political scientist, Francis Fukuyama, thought the end of the Cold-War marked the end of ideological conflict. But history has come roaring back as ideological divisions divide the world once more and geopolitical risk escalates. The world is facing a polycrisis. Multiple systemic disturbances – from the Ukraine conflict to rising US-China tensions, accelerating deglobalization and a high stakes tech war – are creating the most volatile, unpredictable and challenging investment environment since World War Two.
Dr. Alan Dupont AO, CEO and Founder – Cognoscenti Group
10.00 – 10.45
Session #2: The Macroeconomic Perspective: Move fast and break things
The hiking cycle has been aggressive. The delayed and variable lags of monetary policy tightening are now creating obvious stresses in the financial system and cracks in the economy. Inflation is falling, but slowly, and the cost to get it back to target may break the economy rather than bend it. Have the new stresses raised the spectre of a renewed credit crunch? Will consumers remain resilient as labour markets are tight? Meanwhile, China moves to its own drum beat but is a stronger China enough to put the world back on its feet? This session will discuss these and other key questions for the economic outlook locally and around the world.
Veronica Klaus, Head of Investment Consulting, Lonsec (Moderator)
Kerry Craig, Executive Director Global Market Strategist, JP Morgan
10.00 – 10.45
10.45 – 11.00
Morning Tea
11.00 – 11.45
Session #3 Equities | After the reincarnation of value, is growth dead?
After a five year hiatus, 2022 saw a resurgence of Value stocks, spurred on by events in Ukraine and a more aggressive than expected US Fed Reserve. Traditional Value stocks, particularly within the Energy and Financials sectors, accelerated during 2022 and provided a respite from the negative performance witnessed across broader equities market.
Despite the stronger relative performance of the MSCI World ex-Australia Value Index, it only managed to finish the year flat and year to date, performance appears to have tilted back in favour of Growth.
During the panel discussion in this session, we will ask if Growth is dead, have we seen a sustained reincarnation of Value and how should investor be positioned to Value and Growth going forward?Hong Hon, Global Equities, Manager, Lonsec (Moderator)
Philipp Hofflin, Portfolio Manager/Analyst, Lazard
Ned Bell, CIO, Bell Asset Management
Peter Green, Director of Lonsec Research
11.00 – 11.45
11.45 - 12.30
Session #4 Are Bonds back in Vogue?
After a decade of record low bond yields, 2023 appears to be the year bonds will be back in vogue following the great reset for bond markets in 2022.
With today’s higher starting yields across fixed income markets, together with less aggressive interest rate hikes expected, fixed income is poised to deliver potential attractive returns and diversification benefits to investors’ portfolios.However, we are not out of the woods just yet. Risks remain for core bonds if inflation remains stubbornly high, while the riskier fixed income assets will be challenged in a recessionary environment and default cycle. What will be the 2023 playbook for fixed-income investors?
Anthony Kirkham, Head of Melbourne Operations and Investment Portfolio Manager, Western Asset
Stuart Dear, Head of Australian Fixed Income, Schroders
Ron Mehmet, Senior Investment Consultant, Lonsec
Isrin Khor, Fixed Income, Manager, Lonsec Research
12.45 - 13.30
Lunch Break
12.45 - 13.30
13.30 - 14.10
Session #5 Private vs Public | The great debate
As the access to private assets become democratised over the past few years, investors have been attracted to the potential returns and portfolio diversification offered by them. But do the risks outweigh the opportunities offered to investors, especially ‘retail’ investors?
The first of our debate sessions will bring together fund managers from across the private/public asset spectrum to examine whether private assets have a valuation issue, data transparency across the asset class, liquidity risks in a stressed market, and if exposure to private assets just double down on ‘factor’ risks that clients are already exposed to elsewhere in their portfolio.
Brett Lewthwaite, CIO and Global Head of Fixed Income, Macquarie Asset Management
Gabriel Ng, Managing Director, Neuberger Berman
Andrew Lockhart, Managing Partner, Metrics Credit Partners
Stephen Hayes, Head of Global Property Securities, First Sentier Investors
Darrell Clark, Deputy Head of Research and Manager, Alternatives, Lonsec (Moderator)
14.10 – 14.40
Session #6 Passive vs Active | Which is right for the environment?
It is an age old debate – which type of management style is the ideal? Is a Passive (or Smart Beta) approach more relevant to investors, especially with the explosion of Passive / Smart Beta fund available over the last several years. Or is Active management the more ideal, where the potential for a recession and an uncertain return profile is potentially creating opportunities for active managers?
The twist for this Lonsec Symposium debate session is: in the current environment, which type of management is ideal and why?
We will bring together two leading fund managers to outline the case for their different approaches, as well as the role each type of manager can play in your clients’ portfolios. We will then let you vote on which approach is right for the current environment.
Rob Tucker, Managing Director and Portfolio Manager, Chester Asset Management
Cameron Gleeson, Senior Investment Strategist, Betashares
Brook Sweeney, Senior Investment Consultant, Lonsec (Moderator)
14.10 – 14.40
14:40 - 14:55
Afternoon Tea
15:25 - 16:10
Session #7 ESG and Sustainability: what type of companies do managers buy?
We’ve come a long way in terms of market evolution regarding responsible investing. Most are now familiar with ESG ≠ Sustainable ≠ Ethical ≠ Impact but how does a fund manager make a difference and what does that mean in terms of how a portfolio is constructed? Do you get what you expect in a portfolio and how do you work out if it aligns with your client’s expectations?
Tony Adams, Head of Sustainable Investment Research, Lonsec (Moderator)
Jessica Cairns, Head of ESG & Sustainability, Alphinity
Crispin Murray, Head of Equities, Pendal Group15:25 - 16:10
16.15 - 17.15
Networking - Drinks & canapes served
Speakers
To view speaker bio’s please click on the speakers name.
Alan Dupont
Founder and CEO of Cognoscenti Group
Brett Lewthwaite
Chief Investment Officer and Global Head of Fixed Income, Macquarie Asset Management (MAM)
Darrell Clark
Deputy Head of Research and Manager, Multi-Asset, Lonsec
Hong Hon
Manager, Global Equities, Lonsec
Isrin Khor
Manager, Fixed Income, Lonsec
Kerry Craig
Executive Director Global Market Strategist, J.P. Morgan Asset Management
Lorraine Robinson
Executive Director, Lonsec
Ned Bell
Chief Investment Officer (CIO), Bell Asset Management
Philipp Hofflin
Portfolio Manager/Analyst, Lazard Asset Management
Ron Mehmet
Senior Investment Consultant, Lonsec
Stuart Dear
Head of Australian Fixed Income, Schroders
Tony Adams
Head of Sustainable Investment Research, Lonsec
Veronica Klaus
Head of Investment Consulting, Lonsec
Andrew Lockhart
Managing Partner
Metrics Credit Partner
Peter Green
Peter Green
Director, Lonsec Research
Gabriel Ng
Gabriel Ng, Managing Director
Stephen Hayes
Head of Global Property Securities
Rob Tucker
Managing Director and Portfolio Manager, Chester Asset Management
Crispin Murray
Head of Equities, Pendal
Cameron Gleeson
Senior Investment Strategist, Betashares
Tony Nejasmic
Head of Strategic Accounts
Jessica Cairns
Head of ESG & Sustainability
Nick Field
Portfolio Manager, Implemented Portfolios
Partners
Location
The Fullerton Hotel
1 Martin Place
Sydney, NSW 2000
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