Strategies Conference 2023 - Program & Faculty

Strategies Conference 2023 will challenge and refresh your portfolio construction thinking, as we debate contemporary and emerging investment portfolio construction strategies to help you build better quality investor portfolios.

Today, as practitioners continue to navigate the structural shift to an inflationary, higher interest rate investment regime in a volatile, uncertain, complex and ambiguous world, it stands to reason that portfolio strategies must continue to evolve from what worked in the prior “lower for longer” regime. We must think through which portfolio construction strategies remain fit for purpose, which are no longer appropriate, and which new strategies should be adopted.

But, common wisdom also warns us against throwing the baby out with the bathwater. Prioritising the most important changes to make to investment objectives, asset allocation, currency management, manager selection and blending, and risk management is key – because you can do anything, just not everything!

We’d welcome you joining us - at our live studio in Sydney, at a live site around Australia and NZ, or via live stream from your desk. Registration is just A$395+GST for Practitioners. Register now!

Graham Rich
Dean, Portfolio Construction Forum
P.S. An interactive, in-person, post-program Implementation Workshop immediately after Strategies Conference 2023 will once again be led by consulting firm, InvestSense, and further draw together the key takeouts from the program, and the practical implications for client portfolios. Complimentary to all Practitioners who attend Strategies Conference, a separate registration link will be provided.

QUICKLINKS

A quick introduction Theme;

Prep Prep to do before the day;

Program Program at a glance;

More info & to register Where; When; Aim; Most suited to; CE/CPD accreditation; Cost; Theme; Register now

A quick introduction

Established in 2002, Strategies Conference has earned a reputation as THE portfolio construction strategies conference of the year.

Held in August each year in association with CIMA Society, Strategies Conference is the third in a three-part series of annual open-invitation programs curated by Portfolio Construction Forum for those committed to contributing to better quality multi-asset, multi-manager investment portfolio construction. Strategies Conference is a companion program to Markets Summit in February which focuses on debating the drivers of and outlook for the investment markets, and Finology Summit in May which explores the human factors - beliefs, behaviours and principles – in portfolio construction by focusing on behavioural finance and investment philosophy issues. Strategies Conference brings these investment factors and human factors in portfolio construction together, addressing a range of contemporary and emerging portfolio construction issues. The Strategies Conference program “ties a bow” on the three-part annual series by including a three-part Hypothetical Investment Committee to help delegates establish an asset allocation and implementation plan, and is followed by an Implementation Workshop immediately after, to further draw together the key takeouts from the program and the practical implications for client portfolios.

The Strategies Conference program is designed and curated by our specialist, experienced and independent team and features an exceptional Faculty of 40+ leading investment thinkers - portfolio managers, CIOs, senior investment analysts, investment strategists, economists, independent consultants and practitioners - from around the world. Each offers their best, high conviction ideas around contemporary and emerging portfolio constructions issues and strategies, in the context of the program theme.

Theme: You can do anything, just not everything!

Strategies Conference 2023 will challenge and refresh your portfolio construction thinking, as we debate contemporary and emerging portfolio construction strategies to help you build better quality investor portfolios.

Prep

To maximise your learning, we’ll provide you with prep - some videos and readings - aimed at refreshing your memory, boosting your knowledge, and getting you thinking about the issues to be addressed in the program. The preparation is assumed prior knowledge.

Watch: Three economic scenarios for 2023 portfolios - Note, this is Part One of our annual three-part Strategies Conference Investment Committee hypothetical, and assumed prior knowledge for Part Two and Part Three, which are live sessions at Strategies Conference 2023.
Read: The 40-year dream regime is over, you can’t do nothing - by Graham Harman
Watch: If you do anything, think about energy, AI and geopolitics - by Ronald Temple
Watch: If you do anything, exploit the alpha in currency markets - by Razvan Remsing
Watch: The equity affair is fraught - it’s time to partner with bonds - by Paul Benson

Program at a glance

Wednesday 23 August 2023

AEST 7.45am - Live stream starts

AEST 8.15am - Pre-opening scene-setter

AEST 8.30am - Critical Issues Forum 1

You can do anything, just not everything! Watch on-demand
Today, as practitioners continue to navigate the structural shift to an inflationary, higher interest rate investment regime in a volatile, uncertain, complex and ambiguous world, it stands to reason that portfolio strategies must continue to evolve from what worked in the prior “lower for longer” regime. We must think through which portfolio construction strategies remain fit for purpose, which are no longer appropriate, and which new strategies should be adopted. But common wisdom also warns us against throwing the baby out with the bathwater. Prioritising the most important changes to make to investment objectives, asset allocation, currency management, manager selection and blending, and risk management is key – because you can do anything, just not everything!
- Graham Rich, Dean, Portfolio Construction Forum (Sydney)
- Vikram Mansharamani, PhD, Visiting Fellow, Portfolio Construction Forum (Lincoln, New Hampshire) - independent economist, consultant and author, past Lecturer at Harvard University and Yale University, and expert in global trend watching and decision-making under uncertainty.

AEST 8.40am - Critical Issues Forum 2

Macro matters! AI is changing everything, you absolutely must do something(s) Watch on-demand
We are at a critical turning point in human history as developments in the field of artificial intelligence revolutionise the ways in which people work, learn and play – to the same extent that the printing press, steam engines, electrification, telephones, television, computing and the internet changed the world. While the integration of AI promises radical productivity improvements across a range of activities, concerns are growing that such technologies will exacerbate social inequality, the spread of misinformation, and financial volatility, to name just a few. And then there is the “known unknown” risk of so-called singularity in which AI surpasses human intelligence.
Some 20 years ago, the Forum stood out from the crowd by arguing that the “Turbo of Technology” was one of five megatrends that would shape portfolio construction for decades to come. It’s hard to remember, but Google was just a baby! But it seems we ain’t seen nothing yet. Not only has the Turbo of Technology arrived, a ludicrous exponential curve is upon us. Technology is more than one of five Megatrends – it is THE megatrend! Investment fund managers, service providers and practitioners must understand the risks and opportunities associated with the unfolding evolution of technology and AI, and take specific action relevant to multi-asset, multi-manager investment portfolio construction. Doing nothing is not an option!
- Alex Pollak, Chief Investment Officer & Founder, Loftus Peak (Sydney)
- Clare Flynn Levy, Founder & Chief Executive Officer, Essentia Analytics (Greenwich)
- Dominique Dwor-Frecaut, PhD, Senior Researcher, Macro Hive (Los Angeles)
- Grant McCarthy, Founder & Managing Partner, Tidal Ventures (Sydney)
- Matt Heine, Chief Executive Officer & Managing Director, Netwealth (Melbourne)
- Shane Baldacchino, Chief Architect, Microsoft (Melbourne)

AEST 10.00am - Critical Issues Forum 3

You can do anything, just not everything - but not nothing! (Part 1) Watch on-demand
Three gigantic, global, interconnected risks have the potential to upend the world as we know it. The rapid acceleration of artificial intelligence, the escalating US-China war, and challenges to the US dollar’s reserve currency status will define the geopolitical, technological, and economic landscape in coming decades. Yet each risk is accompanied by tremendous opportunity. Investors who understand a wide range of potential outcomes for ambiguous developments will be better positioned to successfully navigate the uncertainty plaguing our world. Part 1 of this three-part presentation summarises the AI risk and explores the second gigantic, global risk - escalating US-China war - and the ways in which it has the potential to catalyse massively disruptive developments in the weeks and months ahead, creating ripples that will impact our world for decades.
- Vikram Mansharamani, PhD, Visiting Fellow, Portfolio Construction Forum (Lincoln, New Hampshire) - independent economist, consultant and author, past Lecturer at Harvard University and Yale University, and expert in global trend watching and decision-making under uncertainty

AEST 10.30am - Morning Break

AEST 10.55am - Critical Issues Forum 4

If you do anything, use behavioural analysis in manager selection Watch on-demand
Traditional performance attribution helps explain past fund performance but is not predictive of future success. In the same way that Moneyball has swept every professional sport, data science is bringing greater transparency into portfolio managers’ decision-making skill. Decision attribution, which analyses the buy and sell decisions of individual portfolio managers, helps identify patterns of demonstrated skill - and specific areas for improvement. For portfolio construction practitioners seeking to select managers capable of outperforming, behavioural analysis of fund managers is crucial.
- Clare Flynn Levy, Founder & Chief Executive Officer, Essentia Analytics (Greenwich)
- Greg Dean, CFA, Founder & Lead Investor, Langdon Equity Partners (Toronto)

AEST 11.30am - Critical Issues Forum 5

A regime shift demands an increased allocation to bonds Watch on-demand
The world has undergone a structural shift from the prior ‘lower for longer’ regime to an environment of higher (but falling) inflation, higher volatility, and significantly higher interest rates. A shift of this magnitude demands an asset allocation response from investors, and looking in the rear-view mirror for directions is misguided. Instead, investors must consider which assets repriced first to reflect this new regime and which are still playing catch up. At a time when “you can do anything”, there are meaningful implications and opportunities for portfolio rebalancing and those investors still structurally underweight bonds need to put aside recency bias and “do something” now.
- Rob Mead, Head of Australia & Co-head of Asia-Pacific Portfolio Management, PIMCO (Sydney)

AEST 11.55am - On the move

AEST 12.00pm - Special Interests Forum 1 - choice of four concurrent sessions:

1. Global private debt is a core portfolio allocation Watch on-demand
Many financial commentators have suggested that the strong growth of the non‐bank corporate lending market is a short‐term, cyclical trend that could threaten the stability of our financial system. The growth of the non‐bank market can be explained by a long‐term structural shift toward private capital as banks and public markets have transitioned from serving small and medium‐sized companies to larger companies over the past several decades. For investors, private credit presents an attractive opportunity to add diversification and attractive risk-adjusted returns portfolios. Characteristics such as yield premium over comparable liquid markets, control, upfront economics and low historical volatility and default rates all make this asset class one to consider for a core allocation in investors’ portfolios.
- Teiki Benveniste, Client Portfolio Manager & Head of Ares Australia, Ares Australia Management (Sydney)

2. If you do one thing, rebalance equities with cash generators Watch on-demand
The market and economic backdrop is making diversification in a global equity allocation difficult. Market cap indices are narrower than any time in history, as the market and active managers flock to the mega caps perceived as logical winners from the AI revolution. As markets become narrow and expensive, core, growth and quality portfolios are converging. This presents risks for many portfolios but a great opportunity for valuation-focused investors. While headline multiples are demanding, there remains opportunities in predictable earnings and forecastable cashflow generators that are being overlooked. As valuation and concentration risks rise, doing nothing is no longer an option, particularly when not everything carries the same risks.
- Warryn Robertson, Portfolio Manager & Analyst, Lazard Asset Management (Sydney)

3. Infrastructure is the essential ingredient in any portfolio Watch on-demand
Every day, every one of us is touched by infrastructure and, the longer we live, the more billions of us there are, and the more we need infrastructure. Driven by a number of macro themes, over the next 17 years to 2040, experts predict we need to invest US$94 trillion in infrastructure just to keep pace with our human needs. This investment has benefits to people and communities everywhere. Demand for essential infrastructure offers opportunities for investors to generate a steady reliable income with inflation protection built in and includes mitigants to a rising interest rate environment. In today’s world of uncertainty and volatility, one thing that is certain is the ‘essential’ role infrastructure plays in investment portfolios. If you do anything, include infrastructure in portfolios.
- Michael Bessell, Co-Head of Infrastructure, Dexus (Sydney)

4. Add growth to portfolios with global small caps Watch on-demand
While global markets in 2023 have been led by a narrow group of mega-cap stocks, global small caps may be rewarded by the markets going forward supported by faster expected earnings growth and compelling valuations relative to large cap equities. The size and dynamism of the universe allows managers to identify a broad array of small cap companies across geographies and industries with improving company fundamentals and scope for multiple expansion. Stock selection and prudent portfolio diversification, however, are critical as investing in small caps translates to both greater opportunity and risk.
- Trevor Gurwich, Senior Portfolio Manager, American Century Investments (New York)

AEST 12.35pm - Lunch Break

AEST 1.15pm - Critical Issues Forum 6

You can do anything, just not everything - but not nothing! (Part 2) Watch on-demand
Three gigantic, global, interconnected risks have the potential to upend the world as we know it. The rapid acceleration of artificial intelligence, the escalating US-China war, and challenges to the US dollar’s reserve currency status will define the geopolitical, technological, and economic landscape in coming decades. Yet each risk is accompanied by tremendous opportunity. Investors who understand a wide range of potential outcomes for ambiguous developments will be better positioned to successfully navigate the uncertainty plaguing our world. Part 2 examines the third examines the third gigantic, global risk - US dollar’s reserve currency status - and which other risks should be factored into portfolio construction strategies including climate change, inequality-driven social unrest, migration pressures and uncontrolled biotechnology.
- Vikram Mansharamani, PhD, Visiting Fellow, Portfolio Construction Forum (Lincoln, New Hampshire) - independent economist, consultant and author, past Lecturer at Harvard University and Yale University, and expert in global trend watching and decision-making under uncertainty.

AEST 1.40pm - Critical Issues Forum 7

If you do anything, increase your exposure to private markets Watch on-demand
Private markets have long been shrouded in mystery. Many people hold strong opinions about them, but these opinions are often not rooted in facts - due in part to the fact that data on private markets has been scarce, making it difficult to assess true performance. But data is available - and it debunks some of the most common misconceptions about private markets. In fact, the data shows that private markets not only demonstrate more resilience than traded assets during downturns, private equity has also historically beaten public markets, besting liquid equities over most 10-year time periods. Private equity can represent a target-rich environment, the market potential of which studies show is larger compared to publicly traded companies. In all, private markets should not be overlooked by investors.
- Mario Giannini, JD, Chief Executive Officer, Hamilton Lane (Philadelphia)
- David Wright, Chief Executive Officer, Zenith Investment Partners (Melbourne)

AEST 2.20pm - On the move

AEST 2.25pm - Special Interests Forum 2 - choice of four concurrent sessions:

1. If you do anything, include private debt in portfolios Watch on-demand
The unique characteristics of private debt make it ideal for any portfolio. It is a versatile asset class that fits in either the defensive or growth component of an investment strategy – or even both at the same time. It can provide a strong hedge against inflation, increase a portfolio’s total return and decrease overall risk. Funds that hold lower risk positions in senior secured or investment grade debt may be a suitable alternative to traditional bonds. Alternatively, funds with exposure to sub-investment grade debt or alternative parts of the capital structure can replace part of an allocation to equities. Either way, private debt’s low correlation with other asset classes means it really can give investors just about everything across a full economic cycle.
- Andrew Lockhart, Managing Partner, Metrics Credit Partners (Sydney)

2. If you could predict one thing, make it equity earnings surprise Watch on-demand
Warren Buffett famously said, “in the short run the stock market is a voting machine but in the long run it is a weighing machine” - what gets weighed are fundamentals, specifically earnings. Brokers hire a great many analysts to write and publish detailed analysis on corporate earnings forecasts. These individual forecasts are combined to create consensus median estimates on what a company is expected to earn in 12 months’ time. It’s right to focus on earnings, but the level of delivered growth is less important than the surprise in growth, the amount by which a company beats or disappoints relative to expectations. Equity factors focused on fundamentals deliver better outcomes - and given the uncertainty in the current environment, the Quality and Low Volatility factors can capture better earnings surprise when the overall market disappoints, providing protection in an equity allocation.
- Ram Rasaratnam, CFA, Chief Investment Officer - Equity Quant Investing, AXA Investment Managers (Singapore)

3. If you do anything, capture energy transition via infrastructure Watch on-demand
The transition a net zero emission economy offers risks and opportunities for investors. Investors are increasingly seeking to invest in the resource companies and manufacturers whose products are required to enable the world to transition to cleaner energy sources while avoiding businesses with high emissions, due to concerns about asset stranding risk. Infrastructure companies provide access to energy, water and transport - as they always have done - and are generally not viewed as exciting energy transition opportunities. Furthermore, infrastructure screens as high emissions. However, infrastructure sectors are major beneficiaries of the transition and concerns about asset stranding risk are misplaced. Infrastructure is a simple way to benefit from the transition to a net zero emission economy and represents a multi-decade growth opportunity.
- Gerald Stack, CA, Head of Investments & Head of Infrastructure, Magellan Asset Management (Sydney)

4. Valuation driven investors can’t ignore EM equities any more Watch on-demand
Emerging Market (EM) equities continue to trade at significant discounts to those in Developed Markets (DM). With structural demographic tailwinds, years of relatively progressive interest rate policies and major progress on the ESG front, most EM economies (at least those with a reliable rule of law) are well placed to deliver positive outcomes for investors. Today, many of the leading companies servicing those economies have superior earnings growth to their DM peers with many trading even cheaper than at the height of the Covid market turmoil. Are valuation driven investors breaching their own defensible investment philosophy by not holding a standalone exposure to EM equities?
- Ross Cameron, Portfolio Manager, Northcape Capital (Sydney)

AEST 3.00pm - Afternoon Break

AEST 3.25pm - Special Interests Forum 3 - choice of four concurrent sessions:

1. Don’t sit on the sidelines, invest in Global Corporate Bonds Watch on-demand
Further weakening of the global economy continues to be likely with geopolitical, policy and banking sector pressures and the elevated probability of recession in coming quarters. Sitting on the sidelines with cash, however, comes at opportunity costs to investors with current yields at a decade high. The role of bonds in a portfolio can aid in pursuing investor goals or stabilising a portfolio to be more resilient when economic shocks hit markets, however, many investors would benefit from evaluating whether their bond holdings are meeting these goals. Investment-grade corporate bonds offers an important ballast towards overall asset allocation and can improve portfolio risk-adjusted returns. A focus on the highest quality securities will provide opportunities for investors to capture future income, as well as add a defensive anchor within portfolios.
- Jeremy Cunningham, CFA, Investment Director - Fixed Income, Capital Group (Sevenoaks, UK)

2. Passive will beat active in private markets too! Watch on-demand
Private Equity funds are impressive and have great marketing. It would be great if we could “invest in everything”, but that is not feasible. Fund selection has massive alpha potential, but it is hard, and only ever investing in top quartile funds over time is virtually impossible. Private Equity pooled returns (weighted average) have historically been attractive, while also less volatile than investing in a single fund or fund-of-funds. A lower cost, efficient and scalable approach to investing, effectively allowing investors to “buy the private market” would be easier and better. An investible index of private market funds would deliver this and complement investors’ portfolios in many ways, just like in public markets.
- Edward Talmor-Gera, Chief Executive Officer, NewVest (Tel Aviv)

3. If you do anything, tap into the Au small cap alpha opportunity Watch on-demand
The median Australian small cap manager has outperformed the ASX Small Ordinaries consistently over the long term. Persistent operational and valuation leverage along with differentiated investment approaches creates this ongoing alpha opportunity. Small Caps have underperformed large cap peers in recent times however cyclical factors today and a rebound in domestic risk sets up for the reemergence in Australian Smalls.
- David Aylward, Founder & Executive Chairman, Tribeca Investment Partners (Sydney)

4. Multi-asset portfolios must focus on risk AND return outcomes Watch on-demand
Why does our industry exist, why do we as industry professionals get up in the morning, how often do you speak with your clients, what about the actual end-client? As professionals we need to stand with our clients and share our voice to ensure risk-aware approaches – and the ability to provide security to our clients’ investment journeys – remains part of our investment landscape. We must whole-heartedly embrace risk AND return multi-asset portfolio construction.
- Anthony Golowenko, CFA, Portfolio Manager, MLC Asset Management (Sydney)

AEST 4.00pm - On the move

AEST 4.10pm - Critical Issues Forum 8

Investing Roundtable - You can do anything, just not everything Watch on-demand
The Investing Roundtable explores key challenges and opportunities in multi-asset, multi-manager portfolio construction that practitioners should be thinking about, given they can do anything, but not everything! Our research analysts will each articulate a challenge or opportunity related to researching and identifying quality investment management solutions that they believe portfolio construction practitioners should be thinking about when building quality multi-asset, multi-manager portfolios.
- Bronwen Moncrieff, CFA, General Manager & Head of Research, Zenith Investment Partners (Melbourne)
- John Laver, CIMA^®, Head of Investments, Generation Life (Melbourne)
- Michael Furey, CFP, CIMA^®, Managing Director, Delta Research and Advisory (Brisbane)
- Paul Benson, CFA, CAIA, Head of Efficient Beta, Insight Investment (San Francisco)
- Naomi Finnigan, Head of Investment Solutions, Netwealth (Melbourne)

AEST 5.10pm - Critical Issues Forum 9

When investing, a youthful mindset is everything Watch on-demand
The young are better able to navigate volatility, uncertainty, complexity and ambiguity, owing to their natural growth and learning mindset. In an environment where investors can do anything, just not everything, we can all benefit from adopting a youth mindset. Young people own their values, are passionate in their activism, use empathy to understand the world, and seek clarity and choices that allow them to be agile and adaptable. Practitioners can incorporate these lessons to successfully navigate a VUCA world, and build better quality multi-asset, multi-manager portfolios for their clients.
- Tassos Stassopoulos, Managing Partner & Chief Investment Officer, Trinetra Investment Management (London)

AEST 5.45pm - Strategies Conference 2023 Networking Reception, in association with CIMA Society

If you’re attending Strategies Conference 2023 in the live studio, please join us for an informal, end-of-day catch up with your fellow delegates.

AEST 6.45pm - Strategies Conference 2023 adjourns

Thursday 24 August 2023

AEST 7.45am - Live stream starts

AEST 8.15am - Pre-opening scene-setter

AEST 8.30am - Critical Issues Forum 10

If you do anything, embrace scenario planning Watch on-demand
Anyone prognosticating on the future has likely heard the cliches “even a broken clock is right twice a day” and “every now and then a blind squirrel will find a nut”. The primary criticism directed at those who think about the future is that it’s an act of futility. The blunt reality is that accuracy cannot and should not be the criterion upon which to evaluate thinking about the future. Usefulness is a far better standard. Mechanical as it may be, thinking about various scenarios of how the future may unfold has proven to be among the most useful ways to make decisions amidst radical uncertainty.
- Vikram Mansharamani, PhD, Visiting Fellow, Portfolio Construction Forum (Lincoln, New Hampshire) - independent economist, consultant and author, past Lecturer at Harvard University and Yale University, and expert in global trend watching and decision-making under uncertainty.

AEST 8.40am - Critical Issues Forum 11

If you do anything, embrace regime change in portfolios Watch on-demand
Markets have undergone a regime shift - and practitioners and investors must change the way they think. To prosper in this regime, we need to embrace the Quantity Theory of Money, appreciate that the US and China are engaged in an economic war, and recognise changes that are occurring in national economies – all of which affect global currencies. Understanding these factors will be crucial to building multi-asset portfolios capable of delivering financial wellbeing in the years ahead.
- Steve Hanke, PhD, Professor of Applied Economics, Johns Hopkins University (Baltimore)
- Wayne Fitzgibbon, Chief Investment Officer, Portfolio Manager, Macroeconomist, Trader (Sydney)
- Razvan Remsing, CFA, Director of Investment Solutions, Aspect Capital (London)

AEST 9.20am - Critical Issues Forum 12

Markets Outlook Roundtable 2023 Watch on-demand
This is Part Two of our annual three-part Strategies Conference Investment Committee hypothetical. The Investment Committee (our Strategies Conference delegates) has appointed an independent consulting firm to provide a robust and transparently determined and documented global economic outlook for the next three years, using a scenarios-based economic modelling philosophy. In this session, the economists summarise and debate three plausible, forward-looking economic and market scenarios that have a reasonable probability of occurring during the next three years. Then, the economists and a diverse panel of asset class experts debate the implications of the three economic scenarios for medium-term (three-year) asset class returns. Following the panel discussion, the Investment Committee members (Strategies Conference delegates) vote on the likelihood of each of the three scenarios, to determine which is most likely, next most likely and least likely. The outcome is then an input to into the Asset Allocation Roundtable 2023, Part Three of our Investment Committee hypothetical.
- Jonathan Ramsay, Director, InvestSense (Sydney)
- Andrew Hunt, Chief Economist, Hunt Economics (Guernsey)
- Dominique Dwor-Frecaut, PhD, Senior Researcher, Macro Hive (Los Angeles)
- Bryan Tsu, Managing Director & Portfolio Manager, PIMCO (Newport Beach)
- Jacob Mitchell, Founder, Chief Investment Officer & Portfolio Manager, Antipodes Partners (Sydney)
- Jonathan Armitage, Chief Investment Officer, Colonial First State (Sydney)

AEST 10.30am - Morning Break

AEST 11.00am - Critical Issues Forum 13

Asset Allocation Roundtable 2023 Watch on-demand
This is Part Three of our annual three-part Strategies Conference Investment Committee hypothetical. The inputs from the Economic Scenarios & Asset Class Outlook Roundtable are used to determine a neutral asset allocation for a hypothetical portfolio. Our Investment Committee (Strategies Conference delegates) then determine the dynamic asset allocation by voting separately on whether to underweight or overweight the various asset classes. Our panel then debates the optimal implementation of the DAA, with reference to investment styles, duration, credit, and listed/unlisted assets, among other considerations.
- Tim Farrelly, Principal, farrelly’s Investment Strategy (Sydney)
- Andrew Clifford, Co-Founder, Chief Executive Officer & Co-CIO, Platinum Asset Management (Sydney)
- Angela Ashton, Founder & Director, Evergreen Consultants (Sydney)
- David Wright, Chief Executive Officer, Zenith Investment Partners (Melbourne)
- Nathan Lim, Chief Investment Officer, Lonsec (Sydney)

AEST 12.05pm - Critical Issues Forum 14

You can do anything, just not everything - but not nothing! (Part 3) Watch on-demand
Three gigantic, global, interconnected risks have the potential to upend the world as we know it. The rapid acceleration of artificial intelligence, the escalating US-China war, and challenges to the US dollar’s reserve currency status will define the geopolitical, technological, and economic landscape in coming decades. Yet each risk is accompanied by tremendous opportunity. Investors who understand a wide range of potential outcomes for ambiguous developments will be better positioned to successfully navigate the uncertainty plaguing our world. Part 3 draws together the threads of Strategies Conference 2023, in a debate on the key takeouts from this year’s program and the actions that practitioners can take to mitigate global risks and take advantage of the accompanying opportunities in multi-asset, multi-manager portfolios.
- Vikram Mansharamani, PhD, Visiting Fellow, Portfolio Construction Forum (Lincoln, New Hampshire) - independent economist, consultant and author, past Lecturer at Harvard University and Yale University, and expert in global trend watching and decision-making under uncertainty.
- Julia Harley, CIMA^®, Financial Adviser, Ethinvest (Sydney)
- Peter Norris, CIMA^®, Director & Financial Adviser, Keystone Wealth (Auckland)
- Sue Field, CIMA^®, Investment Manager, AvSuper (Canberra)

AEST 1.00pm - Strategies Conference 2023 adjourns

AEST 1.00pm - Optional - Strategies Conference 2023 Implementation Workshop (convenes over lunch)
Our optional post-program Implementation Workshop will once again be led by consulting firm, InvestSense, immediately following Strategies Conference 2023 ending. Share your views, ask questions and talk things through with your fellow delegates. The Implementation Workshop further draws together the key takeouts from the program and the practical implications for client portfolios, helping you to decide the key priorities (because you can do anything, just not everything). Complimentary to all Strategies Conference 2023 delegates attending in the live studio, a buffet lunch will be available on arrival.

AEST 3.30pm – Strategies Conference 2023 ends