Markets Summit 2021 - Back to the drawing board!

As a tumultuous 2020 neared its end, the clouds of uncertainty appeared to be parting. Successful vaccine trials raised hopes that the Covid-19 pandemic would soon be over, the US election result promised a more geopolitical- and market-friendly presidency and government, and rebounding investor confidence fuelled a dramatic rotation into value stocks.

Yet that confidence is already being tested in 2021 as new Covid variants take hold, doubts emerge about the efficacy of vaccinations, and the Democrats’ Senate win stirs fears of an aggressive spending, taxation, and regulatory agenda that’s not favourable to business. The geopolitical, macroeconomic and corporate outlook remains unclear, yet stock markets continue to climb this wall of worry. It is time to pause, reflect and go back to the drawing board!

Markets Summit will help you better understand the key drivers of and outlook for the markets, and the opportunities and risks ahead on a three- to five-year view, to aid your search for return and to help you build better quality investor portfolios.

We’d welcome you joining us - face-to-face or via livestream!  Register now!

Graham Rich
Dean, Portfolio Construction Forum

Overview  Where; When; Aim; Most suited to; CE/CPD accreditation; Cost

About the program  Introduction; Theme; Program; Faculty

Register now  Registration options; Terms and conditions

Overview

Where:  Join us face-to-face or via our livestream

We’re delighted to confirm Markets Summit is a “hybrid” program.

What’s “hybrid”? Essentially, it means flexible i.e. you choose how and where it best suits you to participate:

1. join us face-to-face as part of the live studio audience in Sydney
Mix and network face-to-face with Faculty and fellow delegates by joining us at our new iTV studio at the University of New South Wales campus. At this stage, we have 240 seats available (based on the 4 sqm rule). If restrictions ease, we’ll be able to increase this.

2. attend via the livestream with a group that gets together in an offsite location
Organise a group, or accept an invitation to join a group organised by one of our Faculty Partners, and attend the live broadcast at an offsite location (e.g. boardroom or hotel room). We had many groups do this around Australia for Strategies Conference 2020 and it worked well, with attendees enjoying the continuing education, camaraderie and networking without having to travel.

  • If you wish to facilitate a group, please contact us.

3. attend via the livestream on your own from the comfort of your desk
This was a popular option when we asked Strategies Conference delegates what their preference was for the future, with 45% saying they preferred to attend online in future.

When:  AEDT 8.30am-5.45pm Wednesday 03 March 2021

Attending face-to-face?

- Arrive AEDT 7.15am-7.55am to check-in (come early to avoid the queue)
- Take your seat in the studio by AEDT 8.10am and enjoy the pre-opening from AEDT 8.15am
- The program starts at AEDT 8.30am sharp, ending AEDT 5.45pm (with a 40-minute lunch break)
- Followed by a Networking Reception to AEDT 7.00pm

Attending via livestream?

- “Arrive” online AEDT 8.00am-8.30am (and enjoy the pre-opening from 8.15am)
- The program starts AEDT 8.30am sharp, ending 5.45pm (with a 40-minute lunch break)

Aim

Markets Summit will help you better understand the key drivers of and outlook for the markets (geopolitical, economic and asset class), and the opportunities and risks ahead, on a three- to five-year view, to aid your search for return and to help you build better quality investor portfolios.

Most suited to:  Institutional and wholesale portfolio construction practitioners

Markets Summit is relevant to all wealth management professionals who have a responsibility to understand the drivers of and outlook for investment markets.

The program is designed with both institutional and wholesale portfolio construction practitioners in mind - by whom we mean those whose primary day-to-day role is focused within the spectrum of issues involved in designing and building investment portfolios using (but not necessarily limited to) managed funds from a range of firms, whether institutional or wholesale (as the program is designed with both in mind). This includes:

  • investment advisers, researchers/analysts and portfolio managers from private wealth management companies;
  • fund analysts and asset consultants from fund research and fund investment consulting firms;
  • fund researchers/analysts and portfolio managers from multi-manager funds management, superannuation, and investment platform companies; and,
  • investment professionals managing private investment funds (e.g. private corporate super funds, endowment funds, government departments, universities, etc.

We also recognise and respect the invaluable role of Advocates and welcome them attending, too.

CE/CPD Accreditation:  7 to 11 hours

By attending the live program (face-to-face or livestream) in full, you earn 7 CE hours - and after the program, you can earn a further 4 CE hours by “attending” (online on-demand) the Special Interests Forum (elective) sessions you didn’t catch at the live program.

CE hours earned can be used to help meet the CE/CPD requirements of 20 governing bodies (regulators, associations and institutes - including ASIC, APRA, FASEA, FMA, AFA, FPA and CIMA® CE/CPD requirements, to name just a few.

Cost (Practitioners):  A$655+GST face-to-face / A$245+GST livestream

Markets Summit is exceptional value for money for Practitioners, as defined below. Of course, the registration fee differs for attending face-to-face or via livestream.

We also welcome Advocates attending and have a range of registration options available. For more information, please contact us.

About the program

Established in 2009, Markets Summit is THE investment markets scene setter of the year. The program is designed and curated by our specialist, experienced and independent team and features a Faculty of 20+ leading investment thinkers - geopolitical specialists, economists, market/asset class experts, and investment strategists - from around the world. Each offers his/her best high conviction ideas on the drivers of and outlook for the markets (on a three- to five-year view) in the context of the program theme, “Back to the drawing board!”

Knowledge Domain:  Markets

The Forum’s subject matter focus is on five Knowledge Domains – Philosophy, Markets, Strategies, Investing and Finology. As its name implies, Markets Summit is focused primarily on our “Markets” knowledge domain:

Markets - understanding the drivers of and outlook for the investment markets
The drivers of global securities markets are many and ever-changing, as geopolitical, macroeconomic and corporate developments influence the relative attractiveness of equities, debt and other asset classes, over cyclical, secular, and structural time horizons. By understanding how markets operate and what is driving them, portfolio construction practitioners can better identify and understand the outlook for investment markets.

Theme:  Back to the drawing board!

As a tumultuous 2020 neared its end, the clouds of uncertainty appeared to be parting. Successful vaccine trials raised hopes that the Covid-19 pandemic would soon be over, the US election result promised a more geopolitical- and market-friendly combination of a Biden presidency and divided government, and rebounding investor confidence fuelled a dramatic rotation into value stocks.

Yet that confidence is already being tested in 2021 as new Covid variants take hold, doubts emerge about the efficacy of vaccinations, and the Democrats’ Senate win stirs fears of an aggressive spending, taxation, and regulatory agenda that’s not favourable to business. The geopolitical, macroeconomic and corporate outlook remains unclear, yet stock markets continue to climb this wall of worry. It’s back to the drawing board!

Investors will remember 2020 with mixed emotions. The Covid-19 pandemic brought with it social and economic upheaval on a scale not witnessed since World War Two. Across the globe, social distancing and travel restrictions upended long-established industries and business models, and placed barriers between families and friends. By the end of the year, more than 80 million cases of the coronavirus had been detected – resulting in almost two million deaths – while countries such as the US and UK reported an ever worsening situation.

And yet, a quick glance at the one-year performance of stock indices shows that 2020 was highly profitable for equity investors. The S&P 500 index of US large cap stocks surged to an all-time high on its final trading day of the year, capping a 16% annual return. Tech stocks generated even greater gains, the most dramatic example being electric-vehicle manufacturer Tesla, which stormed into the S&P 500 index with a market capitalisation seven times greater than that of Ford and General Motors combined.

Such developments bring into question whether markets are driven by geopolitical, economic and corporate realities. As vaccination programs gain momentum across the globe, policymakers face tough decisions regarding supply, speed of roll-out, and efficacy – particularly given the emergence of new Covid variants. Meanwhile, the wage subsidy schemes that shielded many workers from joblessness in 2020 are scheduled to end in 2021, raising fears that unemployment will rise sharply in the sectors worst affected by social distancing and travel restrictions.

For Australia, which fared better than many western nations in controlling the spread of Covid-19, additional challenges lie ahead. Long-running tensions with China spilled into the trade arena in 2020, as the Chinese Communist Party sought to punish Australia for perceived misbehaviours. As a result, Australian exporters are under pressure to find new markets, while policymakers must contend with an increasingly belligerent Beijing. International travel bans place further stresses on an Australian economy tuned to run on high levels of immigration.

Meanwhile, around the world, government debt levels are exploding ever higher, as policymakers seek to counteract the economic effects of the pandemic. A shift in emphasis towards fiscal stimulus - with the Biden administration leading the charge - raises the prospect that long-dormant inflationary pressures may return sooner than expected. Central banks say they remain committed to loose monetary policies, even when such pressures emerge. So for how much longer can it be lower for longer?

Portfolio construction practitioners must understand the key geopolitical, societal and economic shifts of the past 12 months, and how these impact the medium-term outlook for financial markets. It is time to pause, reflect and go back to the drawing board!

Markets Summit will help you better understand the key drivers of and outlook for the markets, and the opportunities and risks ahead oa three- to five-year view, to aid your search for return and to help you build better quality investor portfolios.

Program structure

Like all our blended live and online continuing education programs, Markets Summit is an integrated learning program with preparation, participation and review.

Before - Prepare

To maximise learning, you are provided with pre-reading aimed at boosting your knowledge and getting you thinking about the issues to be addressed in the program. The preparation is assumed prior knowledge.

During - Participate

The one-day program is designed and curated by our specialist, experienced and independent team. It is comprised of the 5-hour Critical Issues Forum (plenary) program and 2-hour Special Interests Forum (elective) program. In these, our Faculty of 20+ leading investment thinkers from around the world – noted academics, independent consultants, and investment professionals facilitated by our Faculty Partners (quality funds management firms) – offer their best high conviction ideas on the drivers of and outlook for the markets (on a three- to five-year view) in the context of the theme, “Back to the drawing board!” - and the implications for portfolios.

Markets Summit is not just a talk-fest. You are challenged to decide whether you agree or disagree with each high conviction thesis presented, which ones you’ll investigate further, and which you’ll put into practice when building investor portfolios.

After - Review

After the live program, your learning continues. All the presentations are available for on-demand viewing – a page per presentation featuring the sync’d video and slides, podcast, presentation slides and paper(s). You can revisit the sessions you attended, “attend” the 9 SIF sessions you didn’t catch at the live program (and earn further CE hours), and review your key takeouts and the portfolio construction implications to determine actions to take to build better quality investor portfolios.

Meet the Faculty

The program is designed and curated by our specialist, experienced and independent team and features a Faculty of 20+ leading investment thinkers - noted academics, independent consultants, and investment professionals facilitated by our Faculty Partners (quality funds management firms) - from around the world. Each offers his/her best, high conviction idea on the drivers of and outlook for the markets (on a three- to five-year view) in the context of the program theme, “Back to the drawing board!”.

Jonathan Pain

Jonathan Pain, Author & Publisher, The Pain Report (Sydney)
Jonathan (JP) has 32 years’ international investment experience, leading investment teams in London, Bahrain and Australia. The Pain Report is an independent and global perspective on financial markets and the world economy. Jonathan is a current affairs, market and data magpie - and he has an uncanny ability to weave the threads together to see what lies ahead for markets. Over the years, he has debuted a number of new investment theses at Markets Summit (the rise of China in 2004, the US housing bubble and GFC in 2006/7/8, Trump winning the US election in 2016, to name a few). At last year’s Markets Summit (18 Feb 2020), JP was alone in warning that Covid-19 was a “Black Swan event” that would cause an economic shock around the world.  Watch it here

Ngaire Woods

Ngaire Woods, PhD, Dean of the Blavatnik School of Government & Professor of Global Economic Governance, Oxford University (Oxford)
Ngaire’s research focuses on how to enhance the governance of organisations, the challenges of globalisation, global development, and the role of international institutions and global economic governance. She founded the Global Economic Governance Programme at Oxford University, and co-founded the Oxford-Princeton Global Leaders Fellowship programme. Ngaire serves as a member of the Asian Infrastructure Investment Bank’s International Advisory Panel, is an Independent Non-Executive Director at Rio Tinto, is Chair of the Harvard University Visiting Committee on International Engagement, sits on the Harvard Kennedy School Visiting Committee, and is a member of the UK Government National Leadership Centre’s Expert Advisory Panel, and the Department for International Trade’s Trade and Economy Panel, to highlight just a few of her appointments. From 2016-2018, Ngaire was Co-Chair of the World Economic Forum’s Global Future Council on Values, Technology and Governance. Ngaire holds a PhD in International Relations from Oxford University.

Marko Papic

Marko Papic, Partner & Chief Strategist, Clocktower Group (Santa Monica)
Marko leads the strategy team for Clocktower Group, an alternative asset management firm based in Santa Monica. He provides bespoke research to clients and partners on geopolitics, macroeconomics, and markets. Prior to joining the firm, Marko founded and was Chief Geopolitical Strategist for BCA Research’s Geopolitical Strategy practice (GPS), the financial industry’s first dedicated political analysis investment strategy. He began his career as a Senior Analyst at global intelligence agency, Stratfor. Marko holds a BA in Political Science and History, a MA in European Studies and a MA in Political Science and Government.

plus another 18+ leading investment thinkers from around the world.

Register now

By registering for Portfolio Construction Forum Markets Summit 2021 (the “Program”), you agree you have read, understood and agree to be bound by our Portfolio Construction Forum Program Terms and Conditions, including but not limited to the CE and Cancellations terms, and the following registration inclusions:

  • Face-to-face registration includes:  one individual attending the Program on Wednesday 03 March 2021 as part of the studio audience at UNSW, including morning tea, lunch, afternoon tea and networking drinks, as well as online on-demand access to the Program webcasts published after the program. Any costs related to attending the program including but not limited to travel, accommodation, and parking are not included. The registration fee is A$ ex-GST per person.

  • Livestream registration includes:  one individual attending the Program live online on Wednesday 03 March 2021 via the livestream, as well as online on-demand access to the Program webcasts published after the program. Any costs related to attending the Program, including but not limited to an adequate internet connection to watch the livestream are not included. The registration fee is A$ ex-GST per person.

Practitioner registration options

Before registering using these links, please check whether you meet our Practitioner definition below.

Face-to-face:   A$655+GST  Register now
Livestream:   A$245+GST  Register now

Advocate registration options

We also welcome Advocates attending and have a range of registration options available. For more information, please contact us.

Are you a Practitioner or Advocate?

Practitioners

Practitioners are those whose primary day-to-day role is focused within the spectrum of issues involved in designing and building investment portfolios using (but not necessarily limited to) managed funds from a range of firms, whether institutional or wholesale, including:

  • investment advisers, researchers/analysts and portfolio managers from private wealth management companies;
  • fund analysts and asset consultants from fund research and fund investment consulting firms;
  • fund researchers/analysts and portfolio managers from multi-manager funds management, superannuation, and investment platform companies; and,
  • investment professionals managing private investment funds (e.g. private corporate super funds, endowment funds, government departments, universities, etc.

Advocates

If our Practitioner definition (above) doesn’t describe your primary day-to-day role, then you’re an Advocate. Advocates include business and non-investment professionals from any firm. We recognise and respect the invaluable role of Advocates and welcome them attending, too. However to retain a primary focus on Practitioners, we tightly manage to a 4:1 ratio of Practitioners to Advocates attending the live online program.