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  • Welcome

    Welcome

    On Wednesday November 2nd, we had the great pleasure of bringing together our clients, consultants, and friends for the inaugural New York Investment Forum. The forum followed our first Emerging Market Fixed Income Client Workshop in North America. The workshop’s focus was to engage with our various constituencies on the Emerging Market Debt asset class and our investment capability.

    The evening event featured a comprehensive discussion on investing in a low-growth, low-interest rate environment with our investment heads and our Co-Chief Investment Officers, Domenico (Mimi) Ferrini and James Hand. The evening also featured a keynote address by Aniket Shah, Head of Financing for Sustainable Development Initiative, UN Sustainable Development Solutions Network.

    We are grateful to the many clients in attendance that made our first North American events a big success


    Bradley George
    Managing Director, North American Client Group

  • Agenda & Speakers

    Agenda & Speakers

    View Speaker Profiles

    EMD Workshop
    7:45am

    Breakfast and welcome to Investec Asset Management

    Bradley George, Managing Director, North American Client Group
    Doug Doucette, Head of Client Management, North America Institutional
    Peter Eerdmans, Co-Head of Emerging Market Fixed Income

    8:00am

    Introducing emerging market fixed income, our philosophy and process

    Peter Eerdmans, Co-Head of Emerging Market Fixed Income
    The emerging market debt and currency universe provides a distinctive investment landscape for alpha opportunities and portfolio diversification. Peter will comprehensively describe our systematic bottom-up investment approach and how we add value in relative country and currency positions. He will touch on how we use top-down analysis at the portfolio construction stage, where it serves as a check and balance to our bottom-up methodology by incorporating the outlook for emerging markets and different market themes.

     

    9:00am

    Emerging market fixed income: choosing the right relative trade

    Grant Webster, Portfolio Manager, Emerging Market Blended Debt
    Grant will lead a discussion on our emerging market fixed income decision-making process. The session will start with a discussion of the detailed country level fundamental economic analysis we perform and how we assess a country’s expected performance in current and potential economic environments. Grant will discuss how we pinpoint growth drivers by assessing exports, investments, domestic consumption and fiscal expansion. He will also cover our analysis of a country’s monetary and fiscal positions as well as geopolitical and policy risks. Our proprietary valuation models will be reviewed including how we use them to illustrate and analyze real and nominal rates and how they compensate for country, inflation and currency risks.

    10:30am

    Coffee break

    11:00am

    Global emerging markets outlook: focus on Latin America and Asia

    Mike Hugman, Emerging Market Fixed Income and FX Strategist
    In a rapidly changing investment landscape, it is important to stay abreast of new trends in the industry. In this session, Mike will take the attendees through a number of different global and emerging market trends that are currently affecting our investment landscape, focusing on the challenges and opportunities presented by the potential economic divergence of Latin America and China.

    12:00pm

    Commodities: what can we expect in 2017?

    Tom Nelson, Head of Commodities & Resources
    Tom will give an overview of commodity markets, with particular focus on oil and metals. From their heights in mid-2014, commodity prices sunk to a nadir in January 2016, but they recovered ground during the year as demand held up better than expected. Changing dynamics in swing oil producer Saudi Arabia has had major implications for the price dynamics, while China’s efforts to prop up its economy and escalating mining costs have bolstered markets for other commodities like iron ore.

    As well as discussing our supply and demand models for key commodities, Tom will comment on recent meetings with producers and industry participants, particularly in emerging markets, and outline their expectations for the commodities asset class and its role in emerging markets in 2017.

    1:00pm

    Working lunch: emerging market corporate debt: views on the asset class and our approach

    Victoria Harling, Strategy Leader, Emerging Market Corporate Debt
    Emerging market corporate debt is a relatively new asset class, but we have long invested through our high yield funds and have had a dedicated fund for half a decade. A key pillar of our blended emerging market debt strategy, our Emerging Markets Corporate Debt approach applies a disciplined investment process to build well-diversified portfolios targeting attractive risk-adjusted returns.

    Within the Emerging Market Corporate Debt team, the bottom-up process is divided by sector and each analyst looks after their relevant sector scorecard. We recognize that there are a large number of companies issuing debt in our universe, and with the expected expansion of this market this will increase over years to come. To benefit from all opportunities presented by an index of this size we have developed an in-house screen to highlight attractive investment opportunities.

    2:30pm

    Wrap up and Q&A

    Bradley George, Managing Director, North American Client Group
    Doug Doucette, Head of Client Management, North America Institutional
    Peter Eerdmans, Co-Head of Emerging Market Fixed Income

    4:30pm

    Building resilient and sustainable portfolios in a low-growth, low-interest rate environment

    The Lotos Club, 5 East 66th St, New York, NY 10065
    Please join us for cocktails and dinner at the Lotos Club to hear more about our long-term approach to investing and meet some of our capability heads and senior executives.

    Download Download workshop program

     

    Forum Agenda
    4:30pm

    Welcome/Opening remarks

    Bradley George, Managing Director, North America Client Group, Investec Asset Management

    Acting now for the long term

    Domenico (Mimi) Ferrini, Co-Chief Investment Officer, Investec Asset Management
    Investec Asset Management is one of the first firms to have developed a global multi-specialist asset management business from emerging market roots. Mimi will talk about the unique journey of the firm as well as the investment and industry trends that have shaped our business and approach to investing. He will also discuss how we must adapt to the investment environment as we find it, not how we would like it to be.

    5:00pm

    Investing in a low-growth, low-interest rate environment

    What returns can we expect in a world where economic growth is subdued and interest rates are at, or near, long-term lows? How do we balance the return and risk expectations of our clients? Investec Asset Management’s investment leaders will share their views on solutions for the challenges at hand for long-term investors.

    Panel discussion

    Moderator
    Philip Saunders, Head of Multi-Asset Growth Relative Return, Investec Asset Management

    Panelists
    James Hand, Co-Chief Investment Officer & Co-Head of 4Factor Equity, Investec Asset Management John Stopford, Head of Multi-Asset Growth Relative Return, Investec Asset Management Peter Eerdmans, Co-Head of Emerging Market Fixed Income, Investec Asset Management Clyde Rossouw, Co-Head of Quality Equities, Investec Asset Management

    6:00pm

    Cocktail reception

    6:30pm

    Dinner

    8:00pm

    Keynote address: Financing sustainable development, the opportunities

    Aniket Shah, Head of Financing for Sustainable Development Initiative at the United Nations Sustainable Development Solutions Network
    The UN Sustainable Development Solutions Network (SDSN) mobilizes global scientific and technological expertise to promote practical problem solving for sustainable development. Progress is being made in this area, but we have yet to mobilise enough resources to reach the goals set out in either the Paris Agreement on Climate Change or the 17 Sustainable Development Goals. Aniket Shah outlines key themes that will shape the world of sustainable development.

    Bradley George, Managing Director, North America Client Group, Investec Asset Management
    At Investec Asset Management, we believe sustainable development is an imperative for humanity today. An important aspect is the energy transition from fossil fuels to renewables necessary to keep global warming to less than 2°C above pre-industrial levels, as set out in the Paris Climate Change Agreement. Bradley discusses the implications from an investor’s standpoint, the opportunities and the pitfalls of the burgeoning renewable energy sector.

    9:00pm

    Close

    Download Download forum program

    Speaker profiles

    Peter Eerdmans

    Co-Head of Emerging Market Fixed Income
    Joined the firm in 2005
    Joined the industry in 1995

    Peter is co-head of Emerging Market Fixed Income at Investec Asset Management. He is jointly responsible with Werner Gey van Pittius for all global emerging market debt strategies. Peter is also responsible for Asian markets and top-down analysis within the team. He joined the firm in 2005 from Watson Wyatt, where he was responsible for bond and currency manager research. Prior to his time at Watson Wyatt, he spent six years as a senior portfolio manager responsible for global bond management at Robeco, where he helped develop the credit process and lead on numerous projects improving the process and tools of the department. He graduated in 1995 with a Master’s degree in Econometrics from Erasmus University Rotterdam.

    Grant Webster

    Portfolio Manager
    Joined the firm in 2006 and again in 2011
    Joined the industry in 2006

    Grant is an investment specialist and portfolio manager in the Global Emerging Market Debt team at Investec Asset Management. He is responsible for managing the Emerging Markets Blended Debt Strategy and Emerging Markets multi-Asset Strategy, and EEMEA regional and Top-Down asset allocation research. Prior to joining the firm, Grant worked in London as a quantitative analyst and portfolio manager of global macro and convertible bond funds at RWC Partners. He also spent a year working as an equity analyst for Investec Asset Management in Cape Town in 2006. Grant holds a Bachelor of Business Science (Hons.) degree from the University of Cape Town and a Master’s degree with distinction in Finance from London Business School, concentrating on investments and quantitative finance. He is a qualified Actuary (AIA) and CFA Charterholder.

    Michael Hugman

    Strategist
    Joined the firm in 2014
    Joined the industry in 2007

    Michael is an investment specialist and strategist in the Global Emerging Market Debt team at Investec Asset Management. He is responsible for the in depth analysis of major emerging market economies, generating trade ideas including top-down/global themes, quantitative modelling, and building dialogues with policy makers. In addition he is responsible for Latin American bond and currency markets. Prior to joining Investec Asset Management, Michael worked at Amiya Capital, a global/ emerging market equity hedge fund where he was an economist, and before that, he was an emerging market economist and strategist at Standard Bank, London. Prior to Standard Bank, he spent two years working as a technical advisor to the Budget Office, Nigerian Ministry of Finance. Michael graduated with distinction with a Master of Philosophy in Economics and a first class Bachelor of Arts (Hons.) degree in Philosophy, Politics and Economics, both from the University of Oxford.

    Tom Nelson

    Head of Commodities & Resources
    Joined the firm in 2012
    Joined the industry in 2005

    Tom is the head of commodities & resources at Investec Asset Management. He joined the team in 2012 as co-portfolio manager of the Global Energy Fund. Prior to Investec Asset Management, Tom spent seven years at Guinness Asset Management. He was part of the team that managed the outsourced Investec Global Energy Fund from 2005 to 2008, and was subsequently instrumental in the launch of the Guinness Global Energy Fund in 2008. Tom was co-portfolio manager of the Guinness Global Energy Fund and was also co-portfolio manager of the Guinness Thematic Equity Fund from its launch in 2010. He was also co-portfolio manager of the Guinness Energy Hedge Fund. Tom holds the UKSIP Level 3 Certificate in Investment Management and an MA in Modern Languages (French and German) from the University of Oxford.

    Victoria Harling

    Strategy Leader: Emerging Markets Corporate
    Joined the firm in 2011
    Joined the industry in 1997

    Victoria is a corporate strategist and portfolio manager within the Global Emerging Market Debt team, and is responsible for managing the emerging market corporate debt strategy at Investec Asset Management. Victoria joined Investec Asset Management in 2011 from Nomura International. Victoria previously spent over three years working with emerging market trading desks and capital markets teams for Standard Bank and Nomura. She also spent two years running hedge fund and proprietary trading strategies for Rand Merchant Bank and Whitebeam Capital Management. Prior to this, Victoria spent over eight years working for Henderson Global Investors where she was responsible for running emerging market debt portfolios. Victoria graduated from Leeds University with a Bachelor of Science degree in Biochemistry with Molecular Biology. In addition, she is a CFA Charterholder.

    Bradley George

    Managing Director, North American Client Group
    Joined the firm in 2006
    Joined the industry in 1996

    Bradley is the managing director of the North American Client Group at Investec Asset Management. Bradley joined Investec Asset Management in 2006 as the head of Commodities & Resources. He joined the firm after spending seven years at Goldman Sachs where he worked as an executive director in the Commodity Division. Prior to this, he worked in the Goldman Sachs Investment Banking Division on natural resources M&A transactions in both London and South Africa. Previously, he spent three years at KPMG in the Financial Services Division within the Treasury Advisory Group, offering clients consultancy advice on financial derivatives risk management. Bradley graduated from the University of Cape Town with an honours degree in Business Science in 1994. He completed his postgraduate diploma in Accounting (PGDA) from the University of Cape Town in 1995. In 1998 he was awarded the Chartered Accountant designation CA (SA).

    Douglas Doucette

    Head of Client Management, North America Institutional
    Joined the firm in 2012
    Joined the industry in 1980

    Doug is head of client management, North America Institutional within the North American Client Group at Investec Asset Management. Prior to joining the firm in 2012, he was head of investor relations at Weiss Multi-Strategy Advisers, a hedge fund based in New York. Doug was responsible for the development and implementation of a dedicated investor relations infrastructure. Previously he was head of client service at Julius Baer Investment Management, New York. In this role he restructured and managed a dedicated client service team supporting the investment needs of the firm’s North America institutional client base. Prior to Julius Baer, Doug gained extensive experience during 26 years at Deutsche Bank (formerly Bankers Trust Company). During this time he held positions including head of client service – Americas and head of client management within Deutsche Asset Management and the Global Institutional Services group respectively. He originally joined the firm as a member of the Global Markets Division where he held various sales and trading positions on the foreign exchange, money market and corporate bond trading desks. Doug graduated from Amherst College with a Bachelor of Arts degree in Economics.

    Domenico (Mimi) Ferrini

    Co-Chief Investment Officer, Investec Asset Management
    Joined the firm in 1992
    Joined the industry in 1988

    Mimi is Co-Chief Investment Officer at Investec Asset Management. Mimi coordinates the activities of the CIO office and focuses on the development of our investment teams, with overall responsibility for recruitment and talent management.

    Mimi is the United Kingdom-based CIO and is a member of the Global Executive Committee. He joined the company in 1992 as one of the founding members of the company and has held various positions including chief dealer to portfolio manager and managing director of the South Africa Institutional business.

    Prior to joining Investec Asset Management, Mimi spent four years in the stock-broking industry. Mimi graduated from the University of South Africa with a degree in commerce.

    Philip Saunders

    Co-Head of Multi-Asset Growth
    Joined the firm in 1981
    Joined the industry in 1981

    Philip is Co-head of Multi-Asset Growth at Investec Asset Management, he is also a portfolio manager for multi-asset total return, global multi-asset and protected strategies.

    He began his investment career in 1982 as an analyst at Guinness Mahon & Co Limited, assuming management responsibility for the company’s managed currency funds in 1984. In 1987, he became a founding director of Guinness Flight Global Asset Management, which was later acquired by Investec Asset Management in 1998, and led its successful Global Fixed Income team. In 2000 he joined the Multi-Asset team, becoming Head in 2004.

    Philip graduated from Cambridge University with a MA in History in 1980.

    James Hand

    Co-Chief Investment Officer & Co-Head of 4Factor Equity, Investec Asset Management
    Joined the firm in 2000
    Joined the industry in 1997

    James is Co-Chief Investment Officer and Co-Head of 4Factor Equity at Investec Asset Management. He is the portfolio manager of the Global Core Equity Strategy

    In his role as Co-CIO James is responsible for equity and multi-asset investment, including chairing the structured report back meetings and supporting the investment teams on process robustness and evolution. James joined Investec Asset Management in 2000 and has covered a range of global sectors including consumers, industrials and services before returning to technology in 2009.

    James is the author of “The 4Factor Process” and has guest lectured on behavioural finance at Reading University’s ICMA Centre. During his time at the firm, James has managed a range of global portfolios for predominantly institutional clients including sovereign wealth funds and corporate pension schemes.

    Prior to joining Investec Asset Management, James spent three years at Schroder Investment Management where he specialised in small-cap technology stocks. James graduated from Cambridge University with a first class degree in Economics.

    John Stopford

    Head of Multi-Asset Income, Investec Asset Management
    Joined the firm in 1993
    Joined the industry in 1990

    James is Co-Chief Investment Officer and Co-Head of 4Factor Equity at Investec Asset Management. He is the portfolio manager of the Global Core Equity Strategy

    John is Head of Multi-Asset Income at Investec Asset Management, responsible for all multi-strategy income. He is lead portfolio manager on our multi-strategy income portfolios, as well as participating in the wider management of our multi-asset strategies. During his time at the firm John has held senior positions as Co-head of Fixed Income & Currency, having previously been responsible for the management of our South African fixed income assets from 1998 to 2004.

    John joined Guinness Flight in 1993, which was later acquired by Investec Asset Management, and took responsibility for investments in emerging bond and currency markets. Previous to this, he worked in London and Tokyo as a specialist global bond and currency portfolio manager for Mitsui Trust Asset Management.

    John graduated from the University of Oxford with an honours degree in Chemistry in 1990 and he is a CFA Charterholder.

    Clyde Rossouw

    Co-Head of Quality Equities, Investec Asset Management
    Joined the firm in 1999
    Joined the industry in 1994

    Clyde is Co-Head of Quality at Investec Asset Management. He is portfolio manager with a focus on multi-asset absolute return and low volatility real return equity investing. His portfolio manager duties include our flagship Opportunity strategy that he has run since 2003 and our equity oriented Global Franchise and Global Quality Equity Income strategies.

    Clyde joined the firm in 1999, initially as an asset allocation and sector allocation strategist. Prior to Investec Asset Management, Clyde was awarded a study bursary by Sanlam where he worked for eight years, including five years in asset management. His experience in investments there included fixed income analysis and portfolio management.

    Clyde graduated from the University of Cape Town with a Bachelor of Science degree in Statistics and Actuarial Science. He was awarded the Certificates in Actuarial Techniques in 1995, and Finance and Investments in 1997 by the Institute of Actuaries in London. Clyde is a CFA Charterholder.

    Aniket Shah

    Program Leader of the Financing for Sustainable Development Initiative at the UN Sustainable Development Solutions Network (SDSN)
    Joined the firm in 1999
    Joined the industry in 1994

    Aniket advises national governments, global financial institutions and non-profit organizations on how to finance the sustainable development agenda. In this capacity, he led a global advisory initiative to the Government of Ethiopia on the Financing for Development Conference in Addis Ababa in July 2015. Aniket works closely with the Office of UN Secretary General and Professor Jeffrey Sachs, Director of the Earth Institute. From 2011, Aniket served as a strategist at Investec Asset Management focusing on emerging market multi-asset.

    From 2009-2011, Aniket worked at The Earth Institute at Columbia University where he served as a Program Manager and Special Assistant to the Director. Aniket directed the International Policy Advisory Group (IPAG), a collaborative engagement with the Asian Development Bank advising the G20 on global economic policy. Prior to this role, Aniket was an investment banker at Goldman Sachs & Co, where he focused on mergers and acquisitions in the Financial Services Group.

    Since 2006, Aniket has been on the Board of Directors of Amnesty International USA, and in 2013 served as the Treasurer of the organization.

    Aniket is an honors graduate of Yale University, where he collaborated closely with former Mexican President Ernesto Zedillo and former UN Deputy Secretary-General Mark Malloch Brown at the Yale Center for the Study of Globalization. He was a finalist for the Rhodes Scholarship and won various academic and leadership awards at Yale. He is currently pursuing his doctorate at Oxford University in Economic Geography, focusing on sustainable finance at the Smith School of Enterprise and the Environment.

  • Presentations

    Event materials

    Sustainable Development


    Download presentation

    Combined EMD Training Materials


    Download presentation
  • Videos

    Videos

    A view from the CEO

    Investec Asset Management CEO, Hendrik du Toit, talks about the unique journey of the firm as well as the investment and industry trends that have shaped our business and approach to investing.

    He also looks ahead to the major long-term themes that will shape the next quarter century for our business in a more challenging investment landscape.

    Tusk Trust

    Tusk Trust, a pioneering organization, is dedicated to working with local partners to protect wildlife while mitigating poverty and providing educational opportunities through its programs across Africa. For over 25 years, Tusk has been working to protect African wildlife for generations to come.

    The annual Tusk Conservation Awards in partnership with Investec Asset Management will take place later this month, presented by Sir David Attenborough and including the Prince William Prize for Conservation in Africa. “By celebrating exceptional contributions to conservation, we hope to inspire the wider community to get involved in this very important cause.”

     


  • About the Investment Institute

    About the Investment Institute

    The Investment Institute is the strategic insights and engagement platform of Investec Asset Management.

    We provide research and insight to global financial institutions on key geopolitical, economic andinvestment trends that shape portfolio strategy and asset allocation decisions. Our work draws on our firm’s investment capabilities and partnerships with leading academics and practitioners.

    Our philosophy:

    “To empower our clients with insight and knowledge to support their long-term investment objectives.”

    Learn more about the Investment Institute