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4th Annual African Cup of Investment Management Conference - August 29-30, 2013 - Cape Town, South Africa
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Agenda Last Updated On: Wednesday, March 12, 2014
Day One: Thursday, August 29, 2013

7:15 Registration and Networking Breakfast Begins

7:55 Conference Welcome from:



Introduction:

Tim Bailey, Vice President and Conference Producer, INFORMATION MANAGEMENT NETWORK

Tim Bailey
Vice President and Conference Producer
INFORMATION MANAGEMENT NETWORK
Bailey

8:00 Opening Remarks

Opening Welcome By:

Johan van Zyl, CEO, SANLAM [ BIO ]

Johan van Zyl
CEO
SANLAM
van Zyl

8:15 Keynote Discussion brought to you by:



The conference begins with investigative journalist and reporter Devi Sankaree Govender leading a discussion with the esteemed Patrice Motsepe, founder and executive chairman of African Rainbow Minerals (ARM).

Discussion Leader:

Devi Sankaree Govender, INVESTIGATIVE JOURNALIST AND PRESENTER

Speaker:

Patrice Motsepe, Founder and Executive Chairman, AFRICAN RAINBOW MINERALS (ARM) [ BIO ]

Patrice Motsepe
Founder and Executive Chairman
AFRICAN RAINBOW MINERALS (ARM)
Motsepe

8:50 Keynote Presentation - "Where Are We Now? Inflation, Deflation & Debt in the International Monetary System" - brought to you by:



The international monetary system is facing the prospect of a catastrophic collapse due to excessive sovereign debt and excessive money printing by central banks. The system has collapsed three times in the past century in 1914, 1939 and 1971. The 1914 collapse was precipitated by the First World War and was followed later by alternating episodes of hyperinflation and depression before regaining stability in the mid-1920s, albeit with a highly flawed gold standard that contributed to a new collapse in the 1930s. The Second World War precipitated the 1939 collapse and stability was only restored with the Bretton Woods system created in 1944. The 1971 collapse was precipitated by U.S. President Nixons abandonment of gold convertibility for the dollar, and was followed by confusion, culminating in a near collapse of the dollar in 1978. The coming collapse, like those before, may involve war, gold or chaos, or it could involve all three. This presentation examines the most imminent threats to the dollar, likely to play out in the next few years, which are financial warfare, deflation, hyperinflation, and systemic risk.

Speaker:

James Rickards, Author, 'CURRENCY WARS: THE MAKING OF THE NEXT GLOBAL CRISIS' [ BIO ] [ PRESENTATION ]

James Rickards
Author
'CURRENCY WARS: THE MAKING OF THE NEXT GLOBAL CRISIS'
Rickards

9:50 Networking Refreshment Break

10:20 Challenging Your Investment Mindset

Kicking off the conference and introducing the theme of "Challenging Your Investment Mindset", this panel establishes the current market environment, outlining opportunities and risks for institutional investors and retail/individual investors and their advisors. Beginning with this session, a variety of panel discussions and featured speakers will encourage attendees to challenge both personally held views and long-standing industry traditions. Together with industry overviews, outlines of opportunities to find returns, and successful management strategies, sessions will delve deeper into innovative ways of thinking with each topic following the central thread to determine whether its time to start challenging your investment mindset.

Moderator:

Devi Sankaree Govender, INVESTIGATIVE JOURNALIST AND PRESENTER

Panelists:

Chris Hamman, Head of Fixed Interest Investments, SANLAM INVESTMENT MANAGEMENT [ BIO ]
Andrew Canter, Chief Investment Officer, FUTUREGROWTH ASSET MANAGEMENT (PTY) LTD [ BIO ]
David Knee, Head of Fixed Income and TAA, PRUDENTIAL [ BIO ]

Chris Hamman
Head of Fixed Interest Investments
SANLAM INVESTMENT MANAGEMENT
Hamman
Andrew Canter
Chief Investment Officer
FUTUREGROWTH ASSET MANAGEMENT (PTY) LTD
Canter
David Knee
Head of Fixed Income and TAA
PRUDENTIAL
Knee

11:05 Facilitating Further Investment in Africa and Overcoming Potential Deterrents

Investing in Africa both foreign and intra-African investment offers the potential for investors both institutional and retail, with some market observers predicting vast returns on the horizon. Others still see potential downsides, fears and other hurdles preventing full confidence in investment within Africa. This panel takes a two-pronged approach to the question of how to challenge the investment mindset of the skeptics:

1. Assuaging fears and dispelling misconceptions
2. Outlining ways to facilitate further investment through proactive measures
  • Fears of corruption/ethical issues
  • Governance
  • Political instability
  • Infrastructure
  • Health and life expectancy
  • Education
  • Demographic changes
  • Growing economies and industries
  • Consumer goods and consumption rates


Moderator:

Mabatho Seeiso, Managing Director, THE BRIDGE [ BIO ]

Panelists:

Riyadh Bhyat, Credit Fund Manager, ASHBURTON INVESTMENTS [ BIO ]
Shantha Padayachee, Independent Legal Consultant, RETIREMENT FUNDS AND ESOPS LEGAL ADVISORY SERVICES [ BIO ]
Diane Radley, CEO, OLD MUTUAL INVESTMENT GROUP [ BIO ]

Mabatho Seeiso
Managing Director
THE BRIDGE
Seeiso
Riyadh Bhyat
Credit Fund Manager
ASHBURTON INVESTMENTS
Bhyat
Shantha Padayachee
Independent Legal Consultant
RETIREMENT FUNDS AND ESOPS LEGAL ADVISORY SERVICES
Padayachee
Diane Radley
CEO
OLD MUTUAL INVESTMENT GROUP
Radley

11:50 Commodities & Currency

A panel looking at commodities and currency as asset classes, and how they should factor into your investment mindset. The past several years have seen a rise in commodities investments, but recent slides in prices such as a perceived end to the gold bull run - have some investors worried. Are these worries justified, or should investors still consider commodities such as gold as a valuable component of a long-term investment strategy and a hedge against downturn? Currency is also a frequent topic of debate in investment strategy discussions; to what extent are benchmarks such as the US dollar and Euro useful in evaluating currencies, particularly intra-African currency investment? How should investors approach currency investment?
  • Is Africa over-reliant on commodity investors?
  • Do commodities still offer value protection and low volatility?
  • In defense of commodities as an asset class: reasons to be cheerful
  • Thinking differently: the potential impact of resource scarcity on commodities investments and opportunities for other asset classes to thrive
  • Currency Wars: further discussion of keynote speaker James Rickards presentation and the potential impacts of global government currency policies
  • Considering currency as an asset class by rethinking intra-African currency investment
  • Dispelling fears of volatility: taking the volatility of the US dollar and Euro into account when considering volatility of African currencies
  • Changing traditional benchmarks
  • Calls for return to the gold standard
  • How to gain access to currency investments: routes to entry
  • Currency exposure


Moderator:

Arthur Kamp, Economist, SANLAM INVESTMENT MANAGEMENT [ BIO ] [ PRESENTATION ]

Panelists:

James Rickards, Author, 'CURRENCY WARS: THE MAKING OF THE NEXT GLOBAL CRISIS' [ BIO ]
Evan Gilbert, Head of Asset Consulting, MITONOPTIMAL SOUTH AFRICA [ BIO ] [ PRESENTATION ]

Arthur Kamp
Economist
SANLAM INVESTMENT MANAGEMENT
Kamp
James Rickards
Author
'CURRENCY WARS: THE MAKING OF THE NEXT GLOBAL CRISIS'
Rickards
Evan Gilbert
Head of Asset Consulting
MITONOPTIMAL SOUTH AFRICA
Gilbert

12:35 Networking Luncheon

13:35 Upcoming Structural Game-Changers: Retirement & Savings Reform and New Regulatory Developments

  • Retirement Reform: overview of potential reforms including the need for reform, what is being proposed, and when the effects will be felt
  • How will upcoming reforms impact on the client/customer relationship?
  • Will retirement reform impact your investment mindset?
  • Preserving retirement savings and preventing early withdrawals
  • Will reforms affect fees and commission structures for advisors?
  • Regulatory Developments: what are the other major regulatory developments coming into place soon or in the pipeline that will impact the asset management and wealth advisory industries?
  • How will an expected influx of foreign investors impact regulations?


Moderator:

Devi Sankaree Govender, INVESTIGATIVE JOURNALIST AND PRESENTER

Panelists:

David Gluckman, Head: Future Positioning & Research, SANLAM INVESTMENT MANAGEMENT [ BIO ]
David McCarthy, Retirement Policy Specialist: Tax and Financial Sector Policy, NATIONAL TREASURY [ BIO ]
Bruce Cameron, Editor, PERSONAL FINANCE [ BIO ]
Risto Ketola, Insurance Analyst, SBG SECURITIES

David Gluckman
Head: Future Positioning & Research
SANLAM INVESTMENT MANAGEMENT
Gluckman
David McCarthy
Retirement Policy Specialist: Tax and Financial Sector Policy
NATIONAL TREASURY
McCarthy
Bruce Cameron
Editor
PERSONAL FINANCE
Cameron

14:20 Opportunities in African Private Equity

International private equity funds are looking to Africa for deals, with private equity deal volume in Africa rising 10% last year to USD $1.2bn. Intra-African investment in private equity has not yet reached significant levels, but investors - particularly pension funds - are factoring private equity and unlisted investments into their longer-term strategy due to the excess returns offered in comparison to listed securities. 
  • What is the current level of investment in African private equity funds, and what can be expected in the coming years?
  • Where are the opportunities?
  • Can private equity and other unlisted investments generate outsized returns, and how important will this be to long-term investor strategy in relation to the growth of pension funds in particular?
  • How are investors are making private equity deals in Africa and what can be done to encourage more?
  • What are the societal benefits of private equity investment in Africa?
  • Expected risks and returns
  • Who are the ideal partners for private equity firms looking at Africa
  • Increase of private equity funds focusing on Africa and/or parts of Africa
  • International LPs investing in African funds
  • African private equity funds return vs. other emerging markets private equity funds return


Moderator:

Erika Van der Merwe, CEO, SAVCA [ BIO ]

Panelists:

Rory Ord, Head of Fundamentals, RISCURA FUNDAMENTALS [ BIO ]
Christopher Clarke, Founding Partner and Director, INSPIRED EVOLUTION INVESTMENT MANAGEMENT (PTY) LTD [ BIO ]
Kevin French, Business Executive, OLD MUTUAL PRIVATE EQUITY [ BIO ]

Erika Van der Merwe
CEO
SAVCA
Van der Merwe
Rory Ord
Head of Fundamentals
RISCURA FUNDAMENTALS
Ord
Christopher Clarke
Founding Partner and Director
INSPIRED EVOLUTION INVESTMENT MANAGEMENT (PTY) LTD
Clarke
Kevin French
Business Executive
OLD MUTUAL PRIVATE EQUITY
French

15:00 Networking Refreshment Break

15:25 The Great Reversal: An Analysis of the Potential Effects of Capital Outflows on Selected African Economies

Global financial market dynamics are currently influenced by the implementation of unprecedented monetary and fiscal policy strategies. Increased liquidity or cheap money (interest rates in developed markets dropping to near zero levels), has forced investors to look at non-traditional markets and asset classes in order to achieve respectable yields for themselves and their clients. This quest for higher yields has led these investors to markets that have in the past been seen as too risky or exotic. In addition to supporting local currency units, this has had a positive impact on the financial instruments of emerging markets (including African markets). However, there has been a large sell-off in emerging market assets following a May 22 statement by the US Federal Reserves FOMC hinting at a possible slowdown of quantitative easing measures. This has highlighted a very pertinent issue: What is the likely outcome on African countries once the cheap money ends and outflows are triggered?

This presentation focuses on an analysis of four African countries, namely Egypt, Ghana, Kenya, and Nigeria and highlights the current macroeconomic and political conditions driving fundamentals in each economy. There will be a special focus on portfolio flows/investment and its effect on local fixed income markets, the exchange rate, the level of international reserves, and possible knock-on effects on other variables and policy decisions.

Introduction:

Andrew Philbrick, CEO, MCGREGOR BFA [ BIO ]

Speaker:

Thalma Corbett, Head of Research, NKC INDEPENDENT ECONOMISTS [ BIO ]

Andrew Philbrick
CEO
MCGREGOR BFA
Philbrick
Thalma Corbett
Head of Research
NKC INDEPENDENT ECONOMISTS
Corbett

15:55 Sustainability: An Investment Perspective

The rapid development of the global economy has resulted in too many excesses, extremes and imbalances for this to continue indefinitely. In short, the way goods are produced, money made, people employed and income and services distributed appears unsustainable. This inevitably affects investment and has led Investment Solutions' chief investment office, Glenn Silverman, to believe it necessary to favour investment managers that focus on sustainability issues. He considers the earth's finite resources, inequality, human demographics and macro trends in this analysis of why sustainability is of the utmost importance for the world in general and the way in which money should be managed.



Speaker:

Glenn Silverman, Chief Investment Officer, INVESTMENT SOLUTIONS [ BIO ]

Glenn Silverman
Chief Investment Officer
INVESTMENT SOLUTIONS
Silverman

16:35 ESG Idealism vs. Realism: Overcoming Doubts and Demonstrating Opportunities for Returns

The sustainable investment theme is an established approach in asset management globally, and in Africa. Over US$13.6 trillion in professionally managed assets today is self-described to include environmental, social and governance (ESG) factors globally, and over US$450 billion in frontier and emerging markets integrating ESG according to SinCo estimates. But barriers to growth remain. For many advocates of the various sub-themes such as high-impact investing or developmental investing, the metrics are still not precise enough. The seminal Sustainable Investment in Sub-Saharan Africa report (SinCo + RisCura commissioned by IFC, July 2011) made five strategic recommendations to incentivize the investment value chain to integrate ESG factors into investment decisions, by simplifying the language of definitions, promoting shared learnings from the dynamic local industry, building out a stronger investment case and tracking the growth of the theme. But many investors still consider the sustainable investment thematic to be a luxury service, a nice idea, maybe even noble, but incapable of producing desired returns or too difficult to execute.

This panel explores challenges this mindset by offering clear, practical entry-points to the sustainable investment thematic and demonstrates opportunities for returns.
  • How investors today are applying technologies like screening, active ownership, targeted sector investment, or high impact investing in different asset classes.
  • The role of fund trustees, asset consultants, financial advisors and private wealth practitioners.
  • Institutional investors: when will ESG be the new normal?
  • Asset class rundown of opportunities for financial returns and high development impact.
  • How much is 'hype versus reality' is in the sustainable investment theme in Africa today? What of the next year?


Moderator:

Graham Sinclair, Principal at SinCo [Sustainable Investment Consulting] and Co-Founder, AfricaSIF.org [Africa Sustainable Investment Forum], SINCO [ BIO ]

Panelists:

Belaina Negash, Research Analyst, GOVERNMENT EMPLOYEES PENSION FUND (GEPF) [ BIO ]
Xolisa Dhlamini, South Africa Network Manager, UNITED NATIONS-SUPPORTED PRI [ BIO ]
Jon Duncan, Head of Sustainability Research and Engagement, OLD MUTUAL INVESTMENT GROUP, SA [ BIO ]

Graham Sinclair
Principal at SinCo [Sustainable Investment Consulting] and Co-Founder, AfricaSIF.org [Africa Sustainable Investment Forum]
SINCO
Sinclair
Xolisa Dhlamini
South Africa Network Manager
UNITED NATIONS-SUPPORTED PRI
Dhlamini
Jon Duncan
Head of Sustainability Research and Engagement
OLD MUTUAL INVESTMENT GROUP, SA
Duncan

17:15 Closing CEO Conversation

Closing Day 1 of the conference, a conversation between Devi Sankaree Govender and Edward Kieswetter on the current state of the investment management industry and the challenges it faces.

Discussion Leader:

Devi Sankaree Govender, INVESTIGATIVE JOURNALIST AND PRESENTER

Speaker:

Edward Kieswetter, Group Chief Executive, ALEXANDER FORBES LIMITED [ BIO ]

Edward Kieswetter
Group Chief Executive
ALEXANDER FORBES LIMITED
Kieswetter

17:45 Networking Cocktail Reception courtesy of:



18:45 Day One Concludes

Day Two: Friday, August 30, 2013

7:45 Registration and Networking Breakfast Begin

8:10 Day One Recap; Day Two Opening Remarks

8:15 Exchange-Traded Products: ETFs and the Growth of ETNs

Exchange-traded products retain their popularity with investors. Along with an overview of ETFs, this session will consider the growth of exchange-traded notes (ETNs).
  • What are reasons behind the growth in ETNs?
  • How can ETNs give investors more exposure to currency and commodities?
  • Differences between ETFs and ETNs
  • Incorporating ETPs into your investment strategy


Moderator:

Barbara Vintcent, Director, BLACKROCK [ BIO ]

Panelists:

Vladimir Nedeljkovic, Principal, Head of Investments, CORPORATE AND INVESTMENT BANKING, ABSA [ BIO ]
Gareth Stobie, Head of Capital Markets, GRINDROD BANK LIMITED [ BIO ]
Yusuf Wadee, Head of Exchange Traded Products, RAND MERCHANT BANK [ BIO ]

Barbara Vintcent
Director
BLACKROCK
Vintcent
Vladimir Nedeljkovic
Principal, Head of Investments
CORPORATE AND INVESTMENT BANKING, ABSA
Nedeljkovic
Gareth Stobie
Head of Capital Markets
GRINDROD BANK LIMITED
Stobie
Yusuf Wadee
Head of Exchange Traded Products
RAND MERCHANT BANK
Wadee

8:55 Advisor Focus: Adding Value through Gamma

While the pursuit of Alpha and Beta, asset management and the associated returns are the primary driving force behind many advisors approach to managing finances, the concept of Gamma is gaining popularity as a method for advisors to deliver superior service to clients and add value.
  • How understanding Gamma can lead to extra income
  • Understanding the customer/client perspective
  • Offering broader financial counsel beyond investment management
  • Tax guidance, estate planning, optimizing income, retirement withdrawal advice, etc.
  • Rethinking the role of financial advisor through Gamma
  • Conveying the beneficial aspects of Gamma to customers/clients and associated impact on investment mindset


Moderator:

Anne Cabot-Alletzhauser, Head of the Alexander Forbes Research Institute, ALEXANDER FORBES [ BIO ]

Panelists:

Janet Hugo, Certified Financial Planner, HUGO CAPITAL [ BIO ]
Henry Van Deventer, Head of Financial Planning, ACSIS LIMITED [ BIO ]

Anne Cabot-Alletzhauser
Head of the Alexander Forbes Research Institute
ALEXANDER FORBES
Cabot-Alletzhauser
Janet Hugo
Certified Financial Planner
HUGO CAPITAL
Hugo
Henry Van Deventer
Head of Financial Planning
ACSIS LIMITED
Van Deventer

9:35 Generational Attitudes to Investing: Preparing for Longevity

An important factor to consider when making long-term investment decisions is the changing attitudes towards investing held by the Millennial generation and their potential impact on the finance industry as a whole. Students around the world are becoming actively involved in the endowment investment process, with some even being allocated endowment funds for the specific purpose of making socially-responsible or impact investments. A new wave of employees is preparing to enter the financial industry, with socially-minded investments growing in popularity. And as baby-boomers pass along their inheritance over the coming decades, opportunities for advisors arise as a new generation of investors emerges.
  • How challenging your investment mindset to align with Millennial attitudes makes smart long-term business sense
  • Can asset managers and advisors play a role in developing the next generation of socially-minded investors and investment professionals?
  • Can this shift in mindset towards more socially-conscious investing be dismissed as a youthful fad or craze? Or should the finance industry take the concerns of the next generation of investors more seriously?
  • Can impact and socially-responsible investing transform post-recession negative public opinion of the financial industry?


Moderator:

Graham Sinclair, Principal at SinCo [Sustainable Investment Consulting] and Co-Founder, AfricaSIF.org [Africa Sustainable Investment Forum], SINCO [ BIO ]

Panelists:

Willem Le Roux, Investment Consultant and Actuary, SIMEKA CONSULTANTS & ACTUARIES [ BIO ]
Andrew Davison, Head of Institutional Asset Consulting, ACSIS [ BIO ]
Shirley Passanah CFP®, Certified Financial Planner, SPECTRUM FINANCIAL CONSULTING [ BIO ]
Sean Smith, ALM and LDI Services, RISCURA [ BIO ]

Graham Sinclair
Principal at SinCo [Sustainable Investment Consulting] and Co-Founder, AfricaSIF.org [Africa Sustainable Investment Forum]
SINCO
Sinclair
Willem Le Roux
Investment Consultant and Actuary
SIMEKA CONSULTANTS & ACTUARIES
Le Roux
Andrew Davison
Head of Institutional Asset Consulting
ACSIS
Davison
Shirley Passanah
Certified Financial Planner
SPECTRUM FINANCIAL CONSULTING
Passanah
Sean Smith
ALM and LDI Services
RISCURA
Smith

10:15 Networking Refreshment Break

10:40 Hedge Fund Investing in Africa

South Africas hedge fund industry continues to develop, but outside of South Africa the hedge fund infrastructure in other African countries remains in its infancy. This panel looks at how regulatory measures have continued the development of the South African hedge fund industry, how growth can be encouraged across the African continent, and related trends in alternative investments.
  • Development of hedge fund investment infrastructure in Africa
  • Regulatory framework: current status and upcoming developments
  • Attracting foreign investment into African hedge funds
  • Trends in alternative investments


Moderator:

Carla De Waal, Head of Alternative Investment Solutions, NOVARE INVESTMENTS [ BIO ]

Panelists:

Given Phaladi, Chief Executive Officer, PHALADI ALTERNATIVE INVESTMENTS [ BIO ]
St John Bungey, Chief Investment Officer, BLUE INK INVESTMENTS [ BIO ]

Carla De Waal
Head of Alternative Investment Solutions
NOVARE INVESTMENTS
De Waal
Given Phaladi
Chief Executive Officer
PHALADI ALTERNATIVE INVESTMENTS
Phaladi
St John Bungey
Chief Investment Officer
BLUE INK INVESTMENTS
Bungey

11:20 Consultant Roundtable

A panel examining the changing role of consultants. With some consultants becoming more directly involved in asset management or offering outsourced investment offices to institutions, are the lines being blurred between consultants, asset managers and investors?
  • What is the role of the consultant for institutional and individual investors?
  • Is there a consensus on what defines an investment consultant or do the myriad services offered by various firms today render the term obsolete?
  • How should we look at consultants as a factor in the investment process?
  • What specific benefits do consultants offer in terms of risk management, volatility protection and good governance?


Moderator:

Maya Fisher-French, Financial Services Writer, CITY PRESS [ BIO ]

Panelists:

Rob Southey, Consultant, ALEXANDER FORBES ASSET CONSULTANTS
Hugh Hacking, Head of Retirement Fund Solutions, OLD MUTUAL CORPORATE
Victor Faria, Executive Director, INDEPENDENT ACTUARIES AND CONSULTANTS [ BIO ]
Bashkar Latchman, UNIVERSITY OF WESTERN CAPE RETIREMENT FUND

Hugh Hacking
Head of Retirement Fund Solutions
OLD MUTUAL CORPORATE
Hacking
Victor Faria
Executive Director
INDEPENDENT ACTUARIES AND CONSULTANTS
Faria

12:00 The Changing Face of Distribution in the Asset Management Industry

A review of the challenges of international distribution of mutual funds by looking at some example target markets; a checklist for building potential capability and some example distribution strategies.

Speaker:

Stewart Cazier, Managing Director, Distribution, HENDERSON GLOBAL INVESTORS [ BIO ]

12:30 Closing Keynote Presentation - "The Geopolitics of Modern Africa for Investors" - brought to you by:



David Murrin, CEO of Emergent Asset Management and author of "Breaking the Code of History," closes the conference with the keynote presentation, "The Geopolitics of Modern Africa for Investors," outlining how to better understand Africa and its current stages of development, and how best to capitalise on the dynamic growth of this exciting continent.

Speaker:

David Murrin, CEO and Chairman/Author, EMERGENT ASSET MANAGEMENT LTD/'BREAKING THE CODE OF HISTORY' [ BIO ]

David Murrin
CEO and Chairman/Author
EMERGENT ASSET MANAGEMENT LTD/'BREAKING THE CODE OF HISTORY'
Murrin

13:30 Conference Concludes

 




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