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October 4, 2016 | JW Marriott Hotel

FUNDS SELECTION NEXUS HONG KONG 2016

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FUNDS SELECTION NEXUSHONG KONG 2016 POLL

ADVISORY COUNCIL

Belle LiangExecutive Director, Head of Investment AdvisoryHang Seng

Charis WongVice President, Funds and ETFs, Private Banking and Wealth ManagementCredit Suisse

Eddie LeeRegional Head of Investment Products, AsiaABN AMRO

Ernest ChanManaging Director and Head of Investment Management Services, Asia Morgan Stanley PWM

Jay ChiuHead of Investments, EFG

Johann SanterManaging Director, Senior AdvisorJulius Baer

Maggie TsuiManaging Director, Deputy Head of Investment Services, AsiaBNP Paribas Wealth Management

Michael ChristoManaging Director, Head of Investments, Hong KongUBS Wealth Management

Rocky CheungExecutive Director, Head of Investment Products and Advisory, HK, Wealth ManagementDBS

Roger BaconHead of Managed Investments and Advisory, Asia Pacific ex-JapanCiti

Stefan LecherManaging Director, Head Client Portfolio Management (CPM), APAC and Co-Head Content Management (CM), APAC, UBS Wealth Management

Vincent NgExecutive Director, Head of Investment Advisory, Hong Kong, Wealth Management, Asia ex-JapanNomura

PROGRAMME

Registration and Co�ee8:00am – 8:55am

Welcome & Opening Comments8:55am – 9:00am

Opening Panel Discussion

Equities – Helping Asian HNWIs take a dip

According to industry research, a 2004 portfolio with a 85-15 breakdown between fixed income and equities, respectively, could achieve 4% annual returns. Today, a portfolio would need to allocate up to 50% in equities to generate similar returns but with volatility doubled. Yet excessive concentration in fixed income assets, especially leveraged, is by no means a sustainable way to help clients generate diversified returns. How is your private bank using fund solutions to stimulate risk-averse investors to add to their equity allocations?

Moderator:

Sebastian Enberg, Editor, Asian Private Banker

Conversation catalysts:

Jaye Chiu, Head of Investment, EFG Hong Kong

Roger Bacon, Head of Managed Investments, Asia, Citi Private Bank

Stefan Lecher, Head Client Portfolio Management, APAC and Co-head Content Management, APAC, UBS Wealth Management

9:05am – 9:45am

Breakout Session AEnhancing Return Opportunities in Asian High Yield

With low and even negative interest rates in many developed economies, the search for yield will remain a key investment theme in 2016 and into 2017. Increasingly, investors need to look beyond their comfort zone of traditional fixed income asset classes in order to find yield. Asian high yield is one asset class that still o�ers attractive yielding opportunities. While higher yield does entail higher risk, we believe this can be managed. We combined essential locally-based research with an active portfolio management approach that is fully cognizant of both the risks and opportunities in this asset class.

Looking ahead, we remain constructive on Asian credit. With dovish Asian central banks, low/negative yields expected to continue in developed markets and a likely pull-back in Fed tightening expectations, we believe technicals will remain supportive of the asset class.

Conversation Catalyst:

David Tan, Chief Investment O�cer Fixed Income, Asia Pacific, Allianz Global Investors

Breakout Sessions

Breakout sessions will be held concurrently in separate rooms.

10:35 – 11:15pm

11:20 – 12:00pm

9:50am – 10:30am A

B

C

B

C

A

C

A

B

Breakout Session BJapan Equities – a fresh look at an established if underappreciated asset class

With Abenomics now in its fourth year, and following unprecedented easing from the Bank of Japan, the domestic economy in Japan still seems to lack any sense of real growth.

Despite this economic backdrop, the First State Stewart Asia team believe that high quality companies should continue to diverge from the rest, having already learnt how best to survive the low-growth economic conditions over the past 20 years. By applying the team’s bottom-up stock selection process, we have uncovered a number of interesting companies to invest in for the longer term. Michael Stapleton (Managing Partner) and Sophia Li (Portfolio Manager) will outline our approach and strategy for investing in Japan . We will also highlight some of our long-term investment themes that illustrate our investment philosophy and how it is of benefit to our clients.

Conversation Catalysts:

Michael Stapleton, Managing Partner, First State Stewart Asia, First State Investments

Sophia Li, Portfolio Manager, First State Stewart Asia, First State Investments

Breakout Session CAsia ex Japan Equity: contrarian by nature

Alpha can best be generated by bottom-up analysis: in particular, by investing in companies that are attractively priced relative to their quality. For us, risk isn’t volatility or tracking error. It is the risk of permanent capital loss. Our biggest positions are in companies we believe o�er an asymmetric payo� between risk and reward.

We screen extensively to identify stocks priced attractively relative to their quality. Price-to-book for price, and the five-year average return-on-assets as a proxy for quality, are particularly important elements of this process as we seek to identify a stock’s divergence from its long-term fair value. We scrutinise company statements after this initial hurdle has been cleared, and only then do we analyse the company in depth and speak with management.

Here, we will outline this process in more detail, discussing our reasoning for evaluating companies in this way and illustrating our investment process with case studies and examples.

Conversation Catalysts:

Sandy Pei, Asia ex Japan Deputy Portfolio Manager, Hermes Investment Management

Closing Panel Discussion

Fixed income – Long-only only?

The near-term prospect of US monetary tightening seems to be diminishing day-by-day with every bump in the road. At the same time, the demand for yield has not subsided, especially for Asian investors who continue to pile funds into fixed income. Solutions positioned for a rising rate environment may require a rethink. What solutions are most appealing in an environment where monetary policies are running out of steam but where the search for income remains insatiable?

Moderator:

Richard Otsuki, Senior Reporter, Asian Private Banker

Conversation catalysts:

Aman Dhingra, Head of Funds Solution, Asia, Union Bancaire Privée

Charis Wong, Vice President, Head of Fund and ETFs Hong Kong, Private Banking Asia Pacific, Credit Suisse

Ernest Chan, Head of Investment Management Services Asia, Private Wealth Management, Morgan Stanley

12:05 – 12:45pm

Networking Luncheon & Dataset Conclusions12:50 – 2:00pm

MODERATOR

Sebastian EnbergDeputy Editor Asian Private Banker

Sebastian is the Deputy Editor of Asian Private Banker. His background is in international politics, and Chinese foreign policy and security.

Sebastian graduated from Victoria University of Wellington with a Master of Strategic Studies majoring in Strategic Intelligence, and more recently, from the City University of Hong Kong with a Master of Arts. In 2012, Sebastian was awarded the university’s Top Scholar Prize for his cohort.

Richard joined Asian Private banker in 2012, where he covers a multitude of facets in Asia’s private banking industry including asset management capital markets and recruitment.

Richard graduated from Hong Kong Baptist University with a Bachelors of Arts in English Literature with a specific focus on postmodern literary theory. In his spare time, Richard is an avid fan of basketball both as a player and spectator. Richard Otsuki

Senior ReporterAsian Private Banker

CONVERSATION CATALYSTS

Based in Singapore, Aman heads the Multi-Asset Research team in Asia.

Aman and his team are in charge of the research and selection of various products including long only funds, UCITS alternatives, o�shore hedge funds, structured products and derivatives, exchange traded funds (ETFs), private equity and real estate o�erings.

He has close to 15 years of experience in Asian markets leading innovation and new product development, crafting and operating product platforms and implementing advisory frameworks across several jurisdictions including Asia, the Middle East and UK.

Prior to UBP, Aman worked at Coutts as the head of fund solutions in Singapore and at Citibank across South East Asia and India in multiple roles spanning wealth management, consumer banking, credit cards and treasury services.

Aman DhingraHead of Funds Solution, AsiaUnion Bancaire Privée

Charis Wong is Head of Funds and ETFs, Hong Kong, for Credit Suisse Private Banking Asia Pacific, based Hong Kong. She is responsible for the bank’s North Asia funds business covering mainly Hong Kong and China markets. Ms. Wong conducts investment advisory and fund selection activities, promoting product and service excellence, in addition to management responsibilities.

Ms. Wong joined Credit Suisse from BNP Paribas Wealth Management in 2014, where she was Investment Advisor, specializing in fund advisory and customized fund portfolio solutions, covering the Hong Kong and Taiwan markets. Prior to that, Ms. Wong held positions as Senior Portfolio Analyst with Citi Private Bank and Research Analyst with MSCI Barra.

Ms. Wong obtained her business degree with a double major in Finance and Information System, from the Hong Kong University of Science & Technology and is a CFA Charterholder.

Charis WongVice PresidentHead of Fund and ETFsHong Kong, Private Banking Asia Pacific, Credit Suisse

Mr. David Tan joined Allianz Global Investors in May 2012 as CIO Fixed Income in Asia Pacific Region. Mr. Tan is responsible for building the Fixed Income team, strengthening the investment process and enlarging the product range.

Mr. Tan brings with him a wealth of experience in the management of Asian bonds as well as platform and business development. His experience in managing Asian bonds goes back to 1993. He joins AllianzGI from AXA Investment Managers UK where his last position was Executive Director Fixed Income Asia Pacific and Middle East, with the responsibility for business development. From end of 2008 to early 2011, Mr Tan. was Chief Investment O�cer of Kyobo AXA Investment Managers in Korea. Before that he was based in Singapore as Head of Fixed Income Asia, with responsibility for all the bond portfolio management activities in the region.

David TanChief Investment O�cer Fixed Income, Asia Pacific Allianz Global Investors

Ernest Chan has more than 22 years of experience in finance advisory roles across all asset classes. He joined Morgan Stanley Private Wealth Management in December 2013 as regional Head of Investment Management Services of Private Wealth Management Asia, Responsible for management of all PWM Asia fee‐based products . Main duties include leading the team of 8 to develop product strategies, product roadmaps and specification of product requirements, working with client for prospecting, investment pitches and product performance review, managing and restructuring of discretionary portfolios, and delivering the Global Investment Committee perspective to Asia

Prior to joining Morgan Stanley, Mr. Chan worked at UBS AG Hong Kong where he led a team of investment consultants on investment solution for China and Taiwan region. He headed as well the Investment Products Sales and Distribution team, advising clients on mutual funds, hedge funds, private equity and portfolio management products. He also spent over ten years with JPMorgan Chase Bank as Head of Capital Advisory Asia. In that capacity, he was responsible for providing financing and liquidity solutions to the private wealth clients around the region. He began his career as an equity analyst with Asia Financial Securities Ltd.

Mr. Chan earned his bachelor's degree at the Hong Kong Polytechnic University and his dual Masters degree, in Finance and International Business, is from University of Miami.

Ernest ChanHead of Investment Management Services Asia Private Wealth Management Morgan Stanley

Mr. Jaye Chiu serves as the Head of Investment at EFG Bank AG, based in Hong Kong.

Chiu has the executive responsibility for the full suite of investment solutions provided to client relationship o�cers in North Asia, encompassing discretionary & advisory mandates, funds, alternatives, equities, bonds, FX and structured products. Additionally, he also oversees dealing, trade execution and product due diligence for the Bank.

In his role, he leads teams of investment counsellors, product specialists and dealers.

Jaye ChiuHead of Investment EFG Hong Kong

Michael Stapleton is a Managing Partner of First State Stewart Asia, part of First State Investments.

Michael has more than 19 years of experience in the investments industry. He joined the FSSA team in July 2015 after being part of First State’s global business for more than 16 years. Michael is based in Hong Kong and is responsible for the business management of the FSSA team.

After joining Colonial First State Global Asset Management in 1998, Michael worked in the institutional business in Australia before moving to the UK to become Head of Institutional Business Development. He subsequently moved to Hong Kong in June 2009 and has been based in Asia since then. Michael was most recently Managing Director, Asia Pacific, overseeing business development and the day-to-day functional operations in the Asia region.

Michael holds a Bachelor of Economics from Monash University. He is also a CFA charterholder.

Michael StapletonManaging PartnerFirst State Stewart Asia First State Investments

Roger Bacon is a Managing Director and Head of Managed Investments (MI) & Advisory for Citi Private Bank for Asia Pacific ex-Japan. Based in Hong Kong, Roger oversees all MI Product Sales, Citi Investment Management (CIM) Origination and Sales and regional MI product administration. He is also responsible for coordinating the regional activities associated with traditional funds research, alternatives research, operational due diligence and CIM portfolio management through a matrix reporting line.

Roger has over 23 years of experience within the asset management industry. He spent the first ten years of his career with JPMorgan Asset Management and its predecessor companies working in Asia, the UK and Continental Europe, in various relationship management, equity analysis and portfolio management positions. In 2003 he joined a prominent UK Family O�ce to set up and manage a substantial multi asset-class investment program, comprising mainly equities, fixed income, commodities, hedge funds and private equity. In 2004, he joined UBP where, as Head of Hedge Fund Business in London, he helped build a multibillion dollar discretionary and advisory customized hedge fund business targeting UHNWs, Family O�ces, Institutions and SWFs. He joined Citibank in 2010.

Roger holds an Honors degree, Postgraduate diploma and MBA in International Financial Services from the University of London. He holds the Certified Private Wealth Professional designation and also holds the Investment Management Certificate, HKSI Practising Certificates in Securities and Asset Management. He was an authorized investment manager and advisor with the Financial Services Authority in the UK for over 11 years, and is currently registered with the Hong Kong Monetary Authority as Executive O�cer, responsible for securities dealing, securities advising and asset management.

Roger BaconHead of Managed Investments, AsiaCiti Private Bank

Sandy Pei joined Hermes in July 2013 as a senior analyst responsible for idea generation for the Asia ex Japan strategy; she became deputy portfolio manager of the Asia ex Japan strategy in July 2014. She joined from Investec Asset Management, where she was part of a two-person team dedicated to managing the Investec Asia ex-Japan Equity Fund. Sandy was previously an analyst for the Hermes Emerging Markets team between 2009 and 2011. She holds an MSc in Quantitative Finance from the CASS Business School and a BSc in Economics from University College London. Sandy is a CFA charterholder and is a native Mandarin speaker.

Sandy PeiAsia ex Japan Deputy Portfolio ManagerHermes Investment Management

Sophia Li is a Portfolio Manager at First State Stewart Asia.

Sophia joined the team in August 2009 and is responsible for providing stock ideas to portfolio managers, primarily in the Northern Asia markets. She is also lead manager of the First State Japan Equity Fund.

Sophia holds a Masters degree in Statistics from Harvard University and a Bachelor of Science degree from Fudan University. She is also a CFA charterholder.

Sophia LiPortfolio ManagerFirst State Stewart AsiaFirst State Investments

Stefan leads the CPM team in APAC in addition to Co-Heading CM APAC. The activities include investment content and securities selection, portfolio management and implementation, as well as product development. Stefan oversees the entire regional shelf of both discretionary portfolio- and advisory- solutions investing in equity, fixed income, mutual funds and alternative investments.

Stefan has worked for UBS since 2004 with Asset Management in Zurich. As Global Head Strategist, he was globally responsible for the discretionary and commingled Multi-Asset fund o�ering. He has extensive experience in designing and developing Multi-Asset Solutions for institutional and wholesale clients in the US, Europe and Asia Pacific - leading teams globally. Reflecting the increased focus on the APAC region, Stefan relocated to Hong Kong in 2013. And, in August 2016, Stefan joined Wealth Management APAC in Hong Kong as Head CPM APAC and Co-Head CM APAC.

Before joining UBS, Stefan was a consultant with McKinsey and Company, responsible for advising large financial institutions on strategic and financial management. Prior to this, he worked in actuarial and financial roles with Zurich Insurance and Generali Insurance. He holds a Masters in History of Economics from the University of Zurich and an MBA from Columbia University in New York. Stefan is also a CFA charterholder.

Stefan LecherHead Client Portfolio Management, APAC and Co-head Content Management, APACUBS Wealth Management

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