Training Course

Constructing private client portfolios in turbulent times

Introduction

Portfolio construction is the key to the investment decision making process - choosing the correct benchmark and including the right mix of assets will usually dominate investment returns achieved. In the current market conditions, with relationships between markets under scrutiny, managers and advisors will need to focus on how they are balancing risk and return in portfolios, and whether funds selected are appropriate for their objectives.

Who should attend?

Trustees, investment managers and advisors and all those who are involved in the investment process.

Course Programme

 

9.40 – 9.55	Coffee and registration
9.55 – 10.00	Chairman's introduction
10.00 – 10.40	The changing face of private client and charity management
	An industry transformed? Portfolio characteristics and investment process Relationship, fees and soft issues
	Sarah Fromson, The Wellcome Trust
10.40 – 11.20	Risk management
	Appropriate risk measure for private clients Impact of current market volatility
	Ed Fishwick, BlackRock
11.20 – 11.35	Coffee
11.35 – 12.15	Asset allocation
	Risk, return and correlation between asset classes Historic data and current trends Role of alternatives and structured products
	Wojtek Nabialek and Ryan Rogowski, BNP Paribas
12.15 – 13.15	Lunch
13.15 – 13.55	Benchmark selection
	Selecting the appropriate benchmark Frequency of review Life cycle investing
	Daryl Roxburgh, BITA Risk Solutions
13.55 – 14.35	Fund selection
	Criteria for using a fund Monitoring individual managers Which funds to consider in the current environment
	Jonathan Miller, Citywire
14.35 – 14.50	Coffee
14.50 – 15.30	Case study - Constructing portfolios for a private client
	Maria Largey, JP Morgan
15.30 – 16.00	Questions
16.00	Chairman's closing remarks

Speakers:

Ed Fishwick is managing director and global head of Equity Risk & Quantitative Analysis, BlackRock. Previously he was head of Risk Management & Investment Process Research at AXA Investment Managers, and director of Research at Franklin Portfolio Associates. He is a frequent speaker at finance conferences, is the author of a number of papers, has served on the board of Trustees of the Global Association of Risk Professionals, and serves on the editorial board of the Journal of Asset Management.

Sarah Fromson is the head of Risk Management, a newly created role at the Wellcome Trust. Prior to that, she was chief investment risk officer of RBS Asset Management. Sarah was at Coutts from 1996 to 2004 and was responsible for long-only manager selection from 1998. She previously managed mutual funds at Shearson Lehman Global Asset Management and also worked at Quantec, providing portfolio management software consultancy and advice to a wide range of investment management clients. Sarah graduated from London Business School’s MBA programme in 1986.

Maria Largey, vice president, is a sales executive based in London. An employee since 2001, Maria is responsible for managing relationships with UK retail banks, offshore insurance companies and the promotion of JPMAM Academy. Previously Maria was a client advisor in the Funds Management Group, based in New York, and prior to this, she was an analyst in the Internal Consulting Services Program, where she completed assignments in various areas of the bank including HR Compensation, Strategic Technology Sourcing, IB Equity Derivatives, and ultimately Asset Management. Maria holds a B.S. in biology from the University of California at Santa Barbara and holds NASD Series 7 and 63 licenses.

Jonathan Miller is responsible for Citywire’s fund manager analysis across Europe, contributes to the coverage on fund managers and chairs events throughout the continent. He is often quoted on funds in newspapers such as The Sunday Times, The Sunday Telegraph and other leading European publications. Fluent in both French and Spanish, Jonathan is a holder of the Investment Management Certificate.

Wojtek Nabialek is the head of the Derivatives Structuring for Equities & Derivatives at BNP Paribas in London. He joined BNP Paribas as a fixed income structurer after he graduated from Ecole Centrale de Paris. His work particularly focused on designing yield curve strategies for financial institutions, corporate pension schemes hedging solutions and ALM studies for insurance companies. He then moved to the Equities & Derivatives division, first as an exotic option trader, and then as a structurer for the insurance companies segment. Wojtek is now heading the Structuring Group in London.

Ryan Rogowski joined BNP Paribas in 2007 and is responsible for the Harewood Solutions business which provides a range of investment funds and solutions for discretionary asset managers. The Harewood Solutions business has over $1bn in assets under management and typically provides cautious yet innovative investment funds to its growing investor base. Previously Ryan was at HSBC Global Markets where he was director in charge of 3rd party UK equity derivative business.

Daryl Roxburgh: biography to follow

5 CPD Hours (tbc)

How to book

Please use this booking form. All registrations and fees should be sent to ASIM, Riverside House, River Lawn Road, Tonbridge, Kent TN9 1EP. Telephone: 01732 783548 Fax: 01732 362626. For any queries please call the ASIM office on 01732 783548 or e-mail elisabeth@asim.org.uk

Course Reference Number: AIH/ASIM/0708

Please note our presenters are not authorised to advise on the interpretation and application of rules or the law to particular circumstances or matters. Comments made by our presenters will not constitute and must not be relied upon as advice. The course material does not necessarily stand on its own and is not intended to be relied upon for giving specific advice. Neither ASIM nor its presenters will be liable for any loss or consequential loss occasioned to any person acting, omitting to act or refraining from acting in reliance upon the course material or presentation of the course or, except to the extent that any such loss does not exceed the price of the course, arising from or connected with any error or omission in the course material or presentation of the course. Consequential loss means any loss of anticipated profits, damage to reputation or goodwill, loss of expected future business, damages, costs or expenses payable to any third party or any other indirect losses. No part of any handout material may be reproduced in any form without the prior permission of ASIM.