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8:00am
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Registration and refreshments
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8:50am
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Welcome remarks
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8:55am
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Chair's opening remarks
Alec Crawford, Partner and Chief Risk Officer, LORD ABBETT
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9:00am
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Keynote address: Regulatory road ahead
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9:30am
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Panel: Breaking boundaries - What does the growing convergence of investment strategy and risk management mean for buy-side firms' business models?
- Is there a growing alignment between those working in risk and investment across the buy-side industry?
- What impact is the increasingly prominent role of risk management having on business?
- What role can risk manager's play in supporting investment strategy?
- How successful have strategic risk review units and risk mitigating strategies been in ensuring strong investments?
Moderator: Jorge Mina, Managing Director, Business Management, Risk Management Analytics, MSCI
Joanna Welsh, Chief Risk Officer, CITADEL
Marcos Bueno, Chief Investment Officer, ARGON CAPITAL
Kenneth Winston, Senior Risk Officer, WESTERN ASSET MANAGEMENT
Mark Abbott, Managing Director, Head of Analytics and Reporting, GUARDIAN LIFE
Nicholas C. Silitch, Chief Risk Officer, PRUDENTIAL
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10:15am
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Oxford debate: Thriving in the 21st Century - Can buy-side firms ensure their fees reflect their performance?
- Defining what ‘being transparent' really means for buy-side firms
- What are pension funds going to do in the wake of investor and regulator demand to see hidden fees?
- What steps can buy-side firms take to ease clients' fears?
- How can HFs continue to justify their ‘high' fees given the growth of ETFs and other low-fee alternatives?
- Are there any risks inherent to greater transparency?
- How can data that clients, and potentially regulators, want to see, be presented to them in a meaningful way?
Paul Diouri, Head of Risk, Americas, SCHRODERS
Lilian Qua, Director, Quantitative Research and Risk Management, EPOCH INVESTMENT PARTNERS
Andrew Beer, Managing Partner and Co-Portfolio Manager, Dynamic Beta, BEACHHEAD CAPITAL MANAGEMENT
Mustafa Chowdhury, Managing Director, Head of Rates, VOYA INVESTMENT MANAGEMENT
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11:00am
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Morning coffe and networking break
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Stream one: Investment strategy
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11:30am
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Panel: The big debate: Passive vs. active investment - Is there a future for active managers?
- How are HFs / AMs dealing with the growth of passive investment?
- With the growth of passive, is there an opportunity for active investors to spot under-priced or over-priced assets?
- Is it possible to have a portfolio that blends both passive and active investments?
- Identifying alpha in passive investment portfolios
Moderator: Mike Huff, Director, Portfolio Management & Asset Allocation, TIAA
Archan Basu, Senior Vice President, Head of Portfolio Construction Guidance, FIDELITY INVESTMENTS
Leon Xin, Executive Director, Head of Risk and Portfolio Construction and Hedge Fund Strategy, JP MORGAN ASSET MANAGEMENT
Mike Huff, Director, Portfolio Management & Asset Allocation, TIAA
Alessio de Longis, Global Multi-Asset Group Portfolio Manager, OPPENHEIMERFUNDS
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5 minute intermission to change streams
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12:20pm
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PRESENTATION: Fundamental change or a challenge to be met? Examining the impact of ETFs on the buy-side industry
- Can AMs and HFs attempt to re-capture some of the retail market that ETFs have taken?
- Are ETFs creating a fundamental, long-term change to the industry?
- What level of liquidity can ETFs offer
- How are ETFs impacting the bond market?
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12:50pm
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Lunch and networking break
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1:50pm
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Panel: Beating the market - optimising investments with new sources of data
- How can alternative data (eg. web scraping) be used to identify anomalous market trends
- Looking at evolving nature of commonly vs uncommonly used data and how both can be used to invest in assets
- Can a combination of AI and improving real time data be used to ‘beat' the market?
Kristen Walters, Managing Director, Risk and Quantitative Analysis, BLACKROCK
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5 minute intermission to change streams
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2:40pm
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PRESENTATION TBC
Boryana Racheva-Iotova, Senior Vice President, Director of Risk Research, FACTSET
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Stream two: Risk management
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11:30am
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Panel: From benign to volatile - Managing liquidity risk for the buy-side as a new market takes shape
- What are some of the different prevailing approaches to measuring asset liquidity?
- What are the strengths, weaknesses and the risks of these?
- What are the key sources of liquidity risk in a portfolio?
- How can risk managers work alongside investment teams to ensure effective measurement and management of liquidity risk?
Moderator: Alec Crawford, Partner and Chief Risk Officer, LORD ABBETT
Michelle Beck, EVP, Chief Risk Officer, NUVEEN
Stefano Pasquali, Managing Director, Head of Liquidity Research, BLACKROCK
Pietro Toscano, Senior Risk Manager, OPPENHEIMERFUNDS
Speaker TBC, STATE STREET CORPORATION
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5 minute intermission to change streams
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12:20pm
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Presentation: Topic TBC
Speaker TBC, FINCAD
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12:50pm
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Lunch and networking break
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1:50pm
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Panel: Modelling, machine learning and big data - What can improvements in learning algorithms and new data sources do for risk managers in buy-side firms?
- Can large-scale models of derivatives and securities predict market behaviour?
- How can new data sources be incorporated into models?
- Are ‘overreaction' and ‘under-reaction' in markets predictable?
- How can the benefits of models be made comprehensible to senior management without risking oversimplification?
- Should models be ‘broad' (eg. focusing on larger market trends) or ‘narrow' (eg. focusing on specific asset classes)
Moderator: Ying Murdoch, Head of Investment Risk Analytics, NORTHERN TRUST ASSET MANAGEMENT
Peruvemba Satish, Senior Vice President and Portfolio Manager, AMERICAN CENTURY INVESTMENTS
Isaac Lieberman, Founder & CEO, ASTON CAPITAL
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5 minute intermission to change streams
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2:40pm
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Presentation: Passive explosion - What risks should buy-side firms be looking for when investing in passive funds?
- Does the long-term growth of passive funds pose a threat to the operation of a free market?
- What effect do passive funds have on the cost of equity and the price of credit?
- Can passive funds hurt competitiveness between the firms they are invested in?
- What impact are the small number of firms, who control ¾ of passively invested stocks, having on the industry and wider economy?
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3:20pm
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Coffee and networking break
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3:50pm
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PRESENTATION: LIQUIDITY
Carlo Acerbi, Managing Director and Head of Risk Management Research, MSCI
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4:20pm
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WRAP UP PANEL: Buy-Side Risk USA 2018 - What are the key points to take away?
Featuring members of the Buy-Side Risk USA advisory board
Alec Crawford, Partner and Chief Risk Officer, LORD ABBETT
Peruvemba Satish, SVP Global Analytics, AMERICAN CENTURY INVESTMENTS
Charles Schwartz, Head of Derivatives, AXA US
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5:05pm
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Closing remarks
Alec Crawford, Partner and Chief Risk Officer, LORD ABBETT
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5:10pm
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Networking drinks
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