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22 September 2020 15:00

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17:00

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mallowstreet Digital Investment Focus: Emerging Markets

As new and exciting players to the global stage, emerging markets is an area of interest to all investors looking for opportunities further from home. Our expert presenters will share their experience, help attendees understand the risks as well as the opportunities in allocating to this fast growing and expanding asset class.

In this afternoon workshop we will hear from two managers who are experts in their respective strategies.

This event is FREE to attend for investment decision makers and their advisors and is available for CPD accreditation.

Program

Time Description
15:00

Login & Access Meeting

The Investment Focus will take place online via a ‘Zoom’ meeting (a widely used webcast meeting provider). We will provide further information, including an access link and password, to all attendees in advance of the event.
15:10

Welcome and Introductions

15:20

Rotating Investment Masterclass I: Emerging Market Debt: Where Do We Go From Here? Dr. Ricardo Adrogué, Head of Barings’ Global Sovereign Debt and Currencies Group.

In March 2020, many developing and emerging market countries hit a proverbial brick wall as a result of COVID-19’s rapid spread and government lockdown policies to contain the virus. The immediate aftermath was a sharp decline in GDP across countries, commodity price crashes and rapid devaluation of EM currencies, while developed market currencies remained relatively unchanged. To offset the severe economic shocks, Central Banks enacted record monetary stimulus programs resulting in lower government bond yields and a strong rally in risk assets. At Barings, we expect rates to stay lower for longer, quasi-sovereign bond spreads to converge with their respective sovereigns, and currencies to regain lost ground. If actual economic data remains weak, what happens to EM assets? Join us to learn more.
16:00

Refreshment Break

16:15

Rotating Investment Masterclass II: Alpha Opportunities in Emerging Markets Equities Paul Korngiebel, CFA Senior Portfolio Manager, Boston Partners

Boston Partners Emerging Markets Dynamic Equity is particularly well-suited to these turbulent times as COVID-19 creates opportunities for long and short investments. At the micro level, clear opportunities have arisen because of the pandemic. On the long side, video games, grocery, food delivery, e-commerce, video conferencing, laptops, spend on hyper scale, and telco usage, have done well. These trends may be permanent because the duration of the new social arrangements imposed by Covid may have caused consumer habits to change, though it’s also possible in certain cases that demand has been pulled forward. Business models where social distancing cannot be maintained have been a bust: airlines, casinos, coffee shops, and ride hailing have all seen consumer demand collapse, creating shorting opportunities as well. Our on-going target: beating the benchmark, net of fees, at half the risk. These characteristics are beneficial diversification for any portfolio.
16:55

Questions and Close of Investment Focus

17:00

End

Speakers

  • Dr. Ricardo Adrogué
    Dr. Ricardo Adrogué is Head of Barings’ Global Sovereign Debt and Currencies Group. Ricardo is the lead portfolio manager for the Emerging Markets Local Debt strategy and Blended Total Return Debt strategy, and backup portfolio manager for the Emerging Markets Sovereign Hard Currency Debt strategy. Ricardo has worked in the industry since 1992 and his experience has encompassed portfolio management, economic strategy and academia. Prior to joining the firm in 2013, he was at Cabezon Investment Group, LLC as well as at Wellington Management Company where he built a successful track record for the Emerging Markets Local Debt program and managed over $11 billion. Before Wellington, Ricardo worked at the International Monetary Fund conducting inflation modeling work for central banks and was country desk for Brazil, Costa Rica, and Trinidad and Tobago. He also worked with Salomon Smith Barney/Citigroup as a vice president of markets and economic analysis, a senior economist and a strategist for Panama and Peru, and New York University as an adjunct professor of Latin American Economics. Ricardo holds a B.A. in Economics from the Universidad Católica Argentina, an M.A. in Economics and a Ph.D. from the University of California, Los Angeles.
  • Paul Korngiebel, CFA
    Mr. Korngiebel is a portfolio manager on all Boston Partners Emerging Markets strategies, including Boston Partners Emerging Markets Equity and Emerging Markets Dynamic Equity. He also serves as a supporting member of the greater Global Equity team, providing input on idea generation for various international and global portfolios. Mr. Korngiebel joined the firm from Deccan Value Advisors, which he co-founded, and prior to that he worked at Brandes Investment Partners. Both firms are dedicated to global value investing. Mr. Korngiebel holds a B.A. from Bowdoin (Phi Beta Kappa), M.A. degrees from Harvard and St. Johns College, and an M.B.A. degree from Northwestern (Beta Gamma Sigma). He holds the Chartered Financial Analyst® designation and has twenty years of investment experience.
  • Kerry Ann James, CFA
    Ms. James is the Director of International Distribution responsible for the business development and marketing strategy outside North America. She joined the firm from the Monitor Group where she was focused on strategic marketing. Ms. James began her career in financial services with Morgan Stanley Asset Management in sales, and over the years, has worked at Goldman Sachs on the equity trading desk and Wellington Management Company in business development. Ms. James is a member of the Investment Committee for Castor Ventures, a venture capital fund for MIT-connected start-ups. Ms. James holds a B.S. degree in management science from the Massachusetts Institute of Technology and a M.B.A. degree in finance from the MIT Sloan School of Management. She holds the Chartered Financial Analyst® designation and FINRA licenses 7, 24 and 66. Ms. James has over twenty-two years of industry experience.