Speakers and topics
The road ahead through an inflationary landscape
abrdn Europe ex UK Income Equity Fund
Dividend yields and growth can power portfolios, even in an inflationary environment. The balanced approach of the Europe ex UK Income Equity Fund has performed across diverse market environments and the changes in the investment landscape play to the strengths of European Income.
Year of the bond 2023 2024 …?
AXA Global Strategic Bond Fund
A challenging 2023 has meant global fixed income markets have had three consecutive years of negative returns. Yields are at multi-year highs and the effects of the higher for longer narrative, treasury issuance, stronger than expected data or hawkish fed speak could mean they continue to rise. However, higher yields represent good value for investors and Nick believes the unprecedented run of negative total returns from bonds is likely to come to an end. The longer central banks hold interest rates at the peak, the more likely it is that we will start to see a slowdown, if not recession and eventual rate cuts. The risk-return balance for fixed income is the best it has been for a long time and in this environment, he believes active management across the full fixed income asset class spectrum will be critical as rates peak and yields fall.
From grandiose spending to belt tightening: the end of corporate extravagance?
BNY Mellon Global Income Fund
The era of 'free money' is over and companies and investment managers are going to have to be more disciplined. Inflation has risen and is set to stay stickier for longer. Income stocks outperform in inflationary periods and they are cheap. Jon will discuss this significant change in the backdrop and will highlight some sectors which are displaying discipline and others which are not. He will also discuss the disciplined investment process followed by the BNY Mellon Global Income Fund and the highly differentiated nature of the portfolio it produces.
Investing sustainably in a world of higher rates and higher inflation
Federated Hermes Sustainable Global Equity Fund
With the days of negative rates and benign inflation in developed markets seemingly behind us, the growth momentum tailwind for sustainable investing is no more. Pragmatism, diversification and a focus on quality are needed to navigate the cycle. To achieve this aim, asset managers are required to look beyond the ESG darlings found in traditional sectors and geographies and expand their reach to different sectors and regions. Martin will outline the approach taken by Federated Hermes and highlight where the team are finding the less obvious opportunities, which should stand the portfolio in good stead in navigating a new investment environment.
Infrastructure renaissance: a continual source of growing and inflation beating income
FTF ClearBridge Global Infrastructure Income Fund
Infrastructure is the life blood of society and the world’s demand for more and better is driving growth. Ajay will discuss how decarbonisation, electrification and deglobalisation are multi-decade secular themes that are powering asset growth, higher cashflows and sustainable dividends into the future. He’ll review ClearBridge’s process for accessing attractive and robust opportunities in a renaissance period for infrastructure.
Discovering quality and growth in European smaller companies
Jupiter European Smaller Companies Fund
Mark will discuss his approach to finding high-quality European smaller companies, as well as why he believes there are opportunities to make attractive long term returns from this investment universe. He and his team seek cash-generative companies with proven business models, that are exposed to long-term secular growth trends, and they build a concentrated portfolio of companies to hold for the long term.
Changing behaviour: why investors should be wary of cash and short duration bonds
Ninety One Diversified Income Fund
Market conditions have changed and securities aren't behaving as they used to. Rates in developed markets have soared to two-decade highs and for investors loading up on cash or short-maturity bonds seems prudent. But beware, pitfalls abound in this strategy. Jason will unpack these issues and unravel the complexities of opportunity costs, reinvestment risks and the lack of flexibility and cushioning.
The current state of the bond market and the opportunities it presents
Fixed income
The bond market has entered a new area, resulting in yields reaching their highest levels in a decade and making bonds incredibly alluring once again. Gordon will discuss the key macro themes and considerations that are relevant at this stage of the economic cycle. This includes analysing factors such as interest rates, inflation, and global economic trends that can impact the bond market. Additionally, he will provide insights into the forward-looking opportunity set. This includes government bonds, corporate bonds, and other fixed income securities. Lastly, he will introduce PIMCO's flagship Income strategy. This is designed to generate income by investing in a diversified portfolio of fixed income securities.
The case for defensive dividends
Polar Capital European ex-UK Income Fund
Nick will share his views on the outlook for opportunities within European income. He will argue that a contrarian approach to picking good companies that are out of favour is better positioned, in the current uncertain macroeconomic backdrop, than deep value or expensive growth. He will also discuss how the fund is positioned in light of this, highlighting the assets with characteristics currently piquing his interest.