th india investment conference - cfa institute investment conference 2… · in financial economics...

INDIA INVESTMENT CONFERENCE

7TH

Searching for Alpha in a Divergent World Friday, 13 January 2017 | Taj Lands End, Mumbai | #IndiaInvConf

EVENT OVERVIEW

What are the largest sources of alpha in different markets and asset classes? Will these change over time, leading to inconsistent performance? The quest and competition for alpha is intense, and many beta strategies are disguised as alpha. How can you distinguish if it’s alpha and not beta, and how do you capture alpha in an increasingly divergent world? Attendees will hear answers to all these questions and more at the 7th India Investment Conference, which provides a unique opportunity for delegates to improve their understanding of key issues that will drive investment decision making in the coming months. Hosted jointly by CFA Institute and CFA Society India, the conference is a must-attend event for investment professionals.

www.facebook.com/IAIP.CFA @CFAIndia #IndiaInvConf

MORE INFORMATIONindiaconf.cfainstitute.org

DELEGATE REGISTRATION FEES (INCLUSIVE OF 15% SERVICE TAX)

Regular Rate

CFA Institute Members INR10,000

CFA® Program Candidates INR11,000

Non-Members INR12,000

Group Rate (minimum of 5 delegates)

INR10,000 per delegate

To register, visit http://cfa.is/IIC2017Registration or scan the QR code:

Gold SponsorsAcademic Sponsor Platinum Sponsor

Silver Sponsors

Exhibitors Delegate Sponsors

7TH INDIA INVESTMENT CONFERENCE Searching for Alpha in a Divergent World Friday, 13 January 2017 | Taj Lands End, Mumbai | #IndiaInvConf

AGENDAConference Co-chairs: Sonia Gandhi, CFA, Director, CFA Society India

Anil Ghelani, CFA, Senior Vice President, DSP BlackRock Mutual Fund

08:30–09:00 Registration

09:00–09:20 Conference Opening and Welcome

Message on behalf of CFA Society India Message on behalf of CFA Institute

Saurav Mishra, CFADirector and Treasurer

CFA Society India

Nick PollardManaging Director, Asia Pacific

CFA Institute

09:20–10:30 Generating Alpha in a Divergent World

Peter BerezinChief Strategist

BCA Research

Moderator: Navneet Munot, CFA, Chief Investment Officer, SBI Funds Management Private Limited

10:30–11:40 Generating Alpha by Investing in Companies with Strong Economic Moat

Heather Brilliant, CFAChief Executive OfficerMorningstar Australasia

Moderator: Jayesh Gandhi, CFA, Senior Portfolio Manager, Birla Sun Life Asset Management Company

11:40–12:10 Networking Coffee Break

12:10–13:20 The Future of Financial Advice

Jonathan B. Stein, CFAChief Executive Officer and Founder

Betterment

Moderator: Madhu Veeraraghavan, T.A. Chair Professor of Finance, T.A. Pai Management Institute (TAPMI)

13:20–14:30 Networking Lunch

14:30–15:00 State of the Investment Industry

Paul H. Smith, CFAPresident and Chief Executive Officer

CFA Institute

15:00–16:00 China’s Economic Challenges for the Next Decade

Andy XieIndependent Economist

Moderator: Amit Khurana, CFA, Head of Equities and Research, Dolat Capital Market Private Limited

16:00–16:30 Networking Coffee Break

16:30–17:45 Executive Panel: Asia Growth Outlook and Asset Allocation

Aaron Low, CFAPrincipal

Lumen Advisors

Sunil Singhania, CFACIO, Equity Investments

Reliance Nippon Life Asset

Management Ltd.


Charles J. Yang, CFAManaging Director

Tokio Marine Asset

Management

17:45–17:55 Closing Remarks

Vidhu Shekhar, CFACountry Head, India

CFA Institute

17:55 Conference Ends

Moderator: Saurabh Mukherjea, CFA, Chief Executive Officer, Ambit Capital Private Limited

* Please note that topics and speakers are subject to change without prior notice.


FEATURED SPEAKERS

Jonathan B. Stein, CFAChief Executive Officer and Founder, Betterment

Jonathan B. Stein, CFA, is chief executive officer and founder of Betterment. With experience from his career of advising banks and brokers on risk and products, he founded Betterment in 2008. Mr. Stein passed the Financial Industry Regulatory Authority (FINRA) Series 7, 24, and 63 exams. He is a

graduate of Harvard University and Columbia Business School.

Peter BerezinChief Strategist, BCA ResearchPeter Berezin is chief strategist at BCA Research, where he manages the firm’s flagship Global Investment Strategy service. He also helped develop BCA’s recently launched equity trading strategy service and served as chief strategist of The Bank Credit Analyst. Previously, he served as a senior global economist and market strategist at Goldman Sachs. Dr. Berezin also worked at the International Monetary Fund (IMF) where he was involved in program negotiations and surveillance in a variety of countries. He was also a member of the IMF’s research department, where he contributed to the IMF’s flagship publication, World Economic Outlook. Dr. Berezin holds a BA in economics from McMaster University, an MS in economics from the London School of Economics and Political Science, and a PhD in economics from the University of Toronto.

Heather Brilliant, CFAChief Executive Officer, Morningstar Australasia

Heather Brilliant, CFA, is chief executive officer of Morningstar Australasia and she leads a team of approximately 160 financial services professionals. Previously, she was global director of equity and corporate credit research for seven years and also served on Morningstar’s Economic Moat committee responsible for reviewing all of the firm’s Economic Moat and Moat Trend ratings. Ms. Brilliant holds a bachelor’s degree in economics from Northwestern University and a master’s degree in business administration from the University of Chicago Booth School of Business. She is a CFA charterholder, a member of the CFA Institute Board of Governors and is a past chairman of the CFA Society Chicago.

Paul H. Smith, CFAPresident and CEO, CFA Institute

Paul Smith, CFA, leads CFA Institute, a global association of investment professionals that sets the standard for professional excellence and credentials. He has more than 30 years of leadership experience in the asset management industry, including over 18 years in Asia. Previously, he was chairman and CEO of Asia Alternative Asset Partners. Before that, he was Asia head of securities services at Bank of Bermuda and after the bank’s acquisition by HSBC, served as global head of securities services and global head of alternative funds administration in New York. He joined CFA Institute in 2012 as managing director for Asia Pacific and was appointed president and CEO in 2015. Mr. Smith holds a Master’s degree in History from Oxford University.


Andy Xie is an independent economist specializing in China and Asia. He is also a guest columnist for the South China Morning Post. Previously, Dr. Xie served as a managing director and head of the Asia-Pacific economic team at Morgan Stanley and as an associate director in corporate finance at Macquarie Bank in Singapore. He also worked as an economist at the World Bank. Dr. Xie is one of the few economists who has predicted economic bubbles, including the 1997 Asian financial crisis and the more recent subprime in the United States. He was voted one of the 50 most influential people in finance by Bloomberg magazine. Dr. Xie holds an MS in civil engineering and a PhD in economics from

the Massachusetts Institute of Technology.


Sunil Singhania, CFACIO—Equity Investments, Reliance Nippon Life Asset Management Ltd.

Sunil Singhania, CFA, is Chief Investment Officer—Equity Investments of Reliance Nippon Life Asset Management Ltd., one of the largest asset managers in India. He oversees nearly $8 bil-lion of equity assets primarily invested in listed Indian companies and has been instrumental in launching India funds in Japan, South Korea, and the UK, besides managing mandates from institutional investors based in the US, Singapore, and other countries. He founded the Indian Association of Investment Professionals (CFA Society India) in 2005 and was President until 2013. Currently, he serves as a member on the CFA Institute Board of Governors. Mr. Singhania holds a bachelor’s degree in Commerce and is a CFA charterholder.

Aaron Low, CFAPrincipal, Lumen Advisors

Aaron Low, CFA, is principal at Lumen Advisors, LLC, based in San Francisco, and is managing director at Lumen Advisors Private Limited in Singapore, overseeing Asia strategies and investments. Previously, he was head of portfolio management, Asia, at PIMCO, where he started the firm’s Asian portfolio management and trading. He serves on the board of directors at the Wealth Management Institute and on the editorial board of the Journal of Futures Markets. He holds a bachelor’s degree in engineering from the National University of Singapore. Dr. Low holds a PhD in financial economics from the UCLA Anderson School of Management.

Charles J. Yang, CFAManaging Director, Tokio Marine Asset Management

Charles J. Yang, CFA, is managing director of Tokio Marine Asset Management. Previously, he was a quantitative analyst at JP Morgan Investment Management (New York) and chief investment officer for major European and Japanese asset management firms in Tokyo. Mr. Yang served as a member of the CFA Institute Board of Governors and as the first Asian chair in the history of CFA Institute. He earned a BA in applied mathematics/statistics from the University of California, Berkeley, and an MBA from New York University Stern School of Business.

OTHER SPEAKERS AND MODERATORS

Jayesh Gandhi, CFASenior Portfolio Manager, Birla Sun Life Asset Management Company

Jayesh Gandhi, CFA, is a senior portfolio manager at Birla Sun Life Asset Management Company and has over 15 years of experience in investment management. He is also president of the CFA Society India (as a volunteer). Previously, he worked with Morgan Stanley Investment Management where he served as lead portfolio manager. A CFA charterholder, Mr. Gandhi also holds a master of international management degree from the Thunderbird School of Global Management, USA and is a chartered accountant from the Institute of Chartered Accountants of India.

Sonia Gandhi, CFADirector, CFA Society India

Sonia Gandhi, CFA, has over 18 years of experience in the investment banking industry working with several global blue chip investment banks. Previously, as Director, Equities at Deutsche Bank in Asia Pacific, she was responsible for their client base. Prior to that she worked with JP Morgan, BNP Paribas and Jardine Fleming – responsible for equity sales, capital market transactions and global account management. Ms. Gandhi is an active volunteer with CFA Society India and serves as Chair, Membership Committee. She is a core member of the Programming and Continuing Education Committee, and represents CFA Society India on CFA Institute's Global Society Brand Council. Ms. Gandhi is extremely passionate about mentoring the next generation of finance professionals, especially women, and regularly conducts ethics workshops for finance students at management

institutes and universities across India.


* Visit https://indiaconf.cfainstitute.org for complete speaker profiles. Please note that speakers are subject to change without prior notice.

Anil Ghelani, CFASenior Vice President, DSP BlackRock Mutual Fund

Anil Ghelani, CFA, is a senior vice president at DSP BlackRock Mutual Fund. Previously, he served as the business head and chief investment officer at DSP BlackRock Pension Fund Managers. Mr. Ghelani also worked at IL&FS Asset Management Company and at S.R. Batliboi & Associates. He serves as a director on the board of the CFA Society India. Anil Ghelani, CFA, is a senior vice president at DSP BlackRock Mutual Fund. Previously, he served as the business head and chief investment officer at DSP BlackRock Pension Fund Managers. Mr. Ghelani also worked at IL&FS Asset Management Company and at S.R. Batliboi & Associates. He serves as a director on the board of the

CFA Society India.

Amit Khurana, CFAHead of Equities and Research, Dolat Capital Market Private Limited

Amit Khurana, CFA, is head of equities and research at Dolat Capital Market Private Limited. He has over two decades of diversified experience the investment industry. Previously, he had stints on the buy side with ILFS and PNB MF, and Collins Stewart UK, and Birla Sun Life on the sell side. His primary focus areas include research, idea development and sales efforts for domestic and FII clients. Mr. Khurana is a volunteer with the CFA Society India and also serves on its Board. A CFA charterholder,he has a master’s degree in business economics from the University of Delhi.

Saurav Mishra, CFADirector of Debt Capital Markets, Deutsche Bank

Saurav Mishra, CFA, is a director of Debt Capital Markets at Deutsche Bank. He is on the Board of CFA Society India and serves as its Treasurer. A volunteer with CFA Society India since 2005, he has more than 15 years of experience in the finance industry and has worked with HDFC Bank, Tata Steel and Deloitte prior to Deutsche Bank. A chartered accountant and a CFA charterholder, Mr. Mishra is also a visiting faculty at management Institutes, teaching fixed income and derivatives.

Saurabh Mukherjea, CFAChief Executive Officer, Ambit Capital Private Limited

Saurabh Mukherjea, CFA, is chief executive officer at Ambit Capital. Mr. Mukherjea’s career in capital

markets and equities includes work at Execution Noble, where he set up and led the Indian equities

business, and the co-founding of Clear Capital, a British equity research firm. He has a bachelor’s

degree and a master’s degree in economics from the London School of Economics and Political

Science.

Navneet Munot, CFAChief Investment Officer, SBI Funds Management Private Limited

Navneet Munot, CFA, is chief investment officer at SBI Funds Management Private Limited. Previously, he served as executive director and head of the multi-strategies fund boutique at Morgan Stanley Investment Management. He also served as chief investment officer (fixed income and hybrid funds) at Birla Sun Life Asset Management Company. Mr. Munot is post graduate in accountancy and business statistics, a chartered accountant (CA), a chartered alternative invest-

ment analyst (CAIA) and a financial risk manager (FRM).


* Visit https://indiaconf.cfainstitute.org for complete speaker profiles. Please note that speakers are subject to change without prior notice.

Vidhu Shekhar, CFACountry Head, India, CFA Institute

Vidhu Shekhar, CFA, is the country head of CFA Institute in India. He is a seasoned financial and investment professional with over 30 years of industry experience in India and abroad. Previously, he was vice president, New Products and Business Excellence at National Stock Exchange (NSE) of India. He completed his postgraduate diploma in management from the Indian Institute of Management, Ahmedabad in 1987 and bachelor’s degree in physics (Honours) from the University of

Delhi. He is a CFA charterholder and was vice president of the CFA Society India.

Nick PollardManaging Director, Asia Pacific, CFA Institute

Nick Pollard is managing director for Asia Pacific based in the Hong Kong office. Previously, he was the chief executive officer of The Royal Bank of Scotland’s Coutts Asia division and, most recently, he was the Head of International Learning and Professional Development for Coutts International. Mr. Pollard began his career with NatWest Group, subsequently part of the RBS Group, where he gained experience in marketing and talent development. Mr. Pollard earned his BA from University College,

London, and is a member of the Private Wealth Management Association.

Madhu VeeraraghavanT.A. Pai Chair Professor of Finance T.A. Pai Management Institute (TAPMI)

Madhu Veeraraghavan is the T.A. Pai Chair Professor of Finance at the T.A. Pai Management Institute (TAPMI). Prior to joining TAPMI, he was a professor of finance and head of the finance area at Monash University. Professor Veeraraghavan has also held positions at the University of Auckland Business School. He has published research in such journals as the Accounting Review, Contemporary Accounting Research, Journal of Financial and Quantitative Analysis, Journal of Banking and Finance, Journal of Empirical Finance, and the Journal of Business Finance and Accounting. Professor

Veeraraghavan holds an MBA in finance and investments and a PhD in finance.


400+

Investment professionals attend the India Investment Conference to network with peers; attend educational sessions led by respected industry experts; and learn about new resources, products, and services that are available to assist their performance in their profession. Our conference delegates are chief investment officers, strategists, portfolio managers, Chartered Financial Analysts, private bankers, investment banking analysts, brokers, risk managers, consultants, and research analysts who have worked in the investment industry for several years. Firms represented include wealth managers, financial advisers, family offices, trust companies, and others involved in the management of private wealth.

DelegateAttendance

CFA Institute Membership Status

The demographic profile reflects data from the 6th India Investment Conference in Mumbai, India.

Delegate Occupation

Research Analyst (28%)Chief-level Executive (13%)Portfolio Manager (12%)Financial Adviser (10%)Investment Banking Analyst (6%)Strategist (6%)Consultant (4%)Other (21%)

Primary Investment Practice

Equities (56%)Fixed Income (10%)Private Equity (6%)Derivatives (3%)Foreign Currency (1%)Indexed (1%)Real Estate (1%)Structured Products (1%)Venture Capital (1%)Not Applicable (14%)Other (6%)

Primary Asset BaseRegion Buy Side/Sell Side

Private (24%)

Institutional (18%)

Both (10%)

Not Applicable (48%)

Asia Pacific (96%)

Americas (2%)

EMEA (2%)

Buy Side (39%)

Sell Side (21%)

Both (12%)

Not Applicable (28%)

Non-member (42%)Member (58%)

© 2016 CFA Institute. All rights reserved.

CONFERENCE DELEGATES

DISTINGUISHED SPEAKERS IN PAST CONFERENCES

Ashvin B. ChhabraPresidentEuclidean Capital

Arvind PanagariyaProfessor of EconomicsJagdish Bhagwati Professor of Indian Political Economy, Columbia University (currently, Vice Chairman, NITI Aayog)

Aswath DamodaranProfessor of FinanceLeonard N. Stern School of Business

New York University

John Kay, FSIPVisiting Professor of Economics

London School of Economics and Political Science

Dr. Vikram Mansharamani

Global Equity Investor; LecturerYale University

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