Asia Pacific Ideas Exchange Conference 2012


9:00 am Welcome Speech
Naomi Denning
Managing Director, Investment Services, Asia Pacific, Towers Watson
9:10 am New Thinking of Risk
Risk means different things to different people. One way to think of risk is as a combination of all those things that can cause permanent impairment to mission - assets being insufficient to meet expected or necessary outcomes. If we view risk in this way, the chances are we will behave quite differently to the way we do today. The discussion will look at risk from a number of thought provoking perspectives.

Paul Colwell
Senior Investment Consultant, Towers Watson
9:30 am Keynote Speaker – Euro Crisis and the Impact of Different Scenario Outcomes
Asia has been heavily dependent on trade as a driver of economic growth. With the Euro area crisis persisting and risks of further deterioration, it is essential for asset owners to understand the different possible scenario outcomes and how these could potentially impact the global economy in the short and long term.

Juergen Michels
Managing Director, Chief Euro-region Economist, Citigroup Inc
10:00 am Bull & Bear Debate
Where is the global economy heading, and how will it affect investment markets? Our guest speakers will examine the case for growth and returns from two opposing perspectives. Expect a spirited and lively debate.

Hervé Lievore
Senior Economist and Investment Strategist, HSBC Global Asset Management
11:00 am Coffee Break
11:15 am Lions and Tigers and Bears
Towers Watson’s Global Investment Committee is responsible for formulating our views on market conditions and likely market returns. Rather than hanging our hat on a single likely outcome we consider a number of risk scenarios, how these asset classes and strategies may be expected to perform under such conditions. Carl will outline TW’s latest views and the likelihood of the different scenarios.

Carl Hess
Global Head of Investment, Towers Watson
11:35 am Case Study Part 1
12:20 pm Lunch
1:30 pm Unleash Opportunities
Given the on-going economic uncertainty, ensuring the portfolio is well balanced and has greater levels of diversity in terms of exposure to the various risk premia available will become a more important aspect of investment strategy and portfolio construction for the future. The afternoon discussions will explore how the most up-to-date investment strategies and alternative assets can improve investment performance and better manage the risk profile.

Mark Brugner
Regional Head of Manager Research, Asia, Towers Watson

Building more “Robust” Bond Portfolios
With the reduction in the availability of and yield from so called “safe assets” coupled with concerns more generally that common approaches to bond investing are no longer appropriate investors have looked for alternative bond strategies. We look at the key issues an investor needs to consider when building a better bond portfolio and present some new approaches.

Chris Redmond
Head of Global Bonds, Manager Research, Towers Watson

Beta and Alpha Opportunities in China’s Equity Market
We briefly consider the thought process that an institutional investor should go through when considering an allocation to China shares and address the challenges more generally of investing in China. A distinction is made here between a “beta proposition” and an “alpha opportunity”.

Calvin Wong
Head of Greater China Equity Research, Towers Watson

Absolute Return Strategies: Myth or Magic?
Investors in Asia are increasingly considering absolute return strategies as part of their investment strategy. In this discussion we share a brief summary of our research and thinking with respect to such strategies and whether investors can benefit from having an allocation to these in the portfolio.

Damien Loveday
Global Head of Hedge Funds, Towers Watson

Diversifying Portfolio Risk into Private Markets Opportunities
Allocating to private markets can add greater diversity to the portfolio. This discussion will focus on identifying new opportunities in the private markets space, how these can benefit the portfolio and be considered in terms of portfolio construction more generally. We will also briefly touch upon some of the implementation challenges investors face.

Luba Nikulina,
Global Head of Private Markets, Towers Watson

Investing in Real Estate
Real estate has a number of alluring investment characteristics such as the ability to generate stable income, the potential to grow in value over time, and the ability to capitalize on opportunities in an inefficient market. We will examine some of the issues, misconceptions, and implementation challenges and present a number of ways investors can access property-related investment opportunities.

Peter Lewis
Head of Americas Real Estate Research Team, Towers Watson
3:00 pm Case Study Part 2
3:15 pm Afternoon coffee break
3:30 pm Where am I? Risk & Performance Monitoring and Management
We live in very uncertain times. To be better positioned to manage risk asset owners need to be properly informed as to the risk embedded into their portfolios. We discuss how risk and performance monitoring tools can be used to better understand and manage risk.

Yvonne Sin,
General Manager, Risk and Financial Services, Mainland China and Taiwan, Towers Watson
3:45 pm Investor Panel – Experience Sharing
We bring a group of investors from across the region to the table to discuss their recent experiences around areas such as asset allocation, portfolio construction and managing risk.

Moderator: Peter Ryan-Kane, Head of Portfolio Advisory, Asia Pacific, Towers Watson

Zhang, Lan, Director, National Council for Social Security Fund
Heman Wong, Executive Director, Hospital Authority
Khairul Azwa Kamalul Bahrin, Director, Risk Management & Compliance Department,
Kumpulan Wang Persaraan (Diperbadankan)
4:30 pm Decisions, Decisions
Making decisions is an everyday part of investing and having an investment decision making process that is fit for purpose and aligned with organisational objectives is crucial to success. This discussion will examine the key elements that make up a good investment process and why it is important to match process with governance and available resources.

Jayne Bok
Head of Investment, Korea, Towers Watson
4:45 pm Case Study Review
5:15 pm Wrap up