Morningstar® Investment Conference

Mumbai 2018

October 23 – 24 | Hotel Sahara Star 

Register

Morningstar presents the latest developments on financial advice from the industry’s top minds. Discover new perspectives on the market and ideas to put into practice.

Speakers

Keynote Speakers

Dr. Mark Mobius
Mobius Capital Partners

John C. Bogle
The Vanguard Group

Kunal Kapoor
CEO, Morningstar Inc.

Main Stage Speakers

Mohnish Pabrai
Pabrai Investment Funds

Sanjay Bakshi
ValueQuest Capital LLP

Ashish Chauhan
BSE

Monika Halan
Mint

Sanjoy Bhattacharyya
Fortuna Capital

Bharat Shah
ASK Group

Saurabh Mukherjea
Marcellus Investment Managers

Sailesh Raj Bhan
Reliance Mutual Fund

Ajay Bagga
OPC Asset Solutions Pvt Ltd

Sadique Neelgund
Network FP

Neelesh Surana
Mirae Asset (India)

Neelesh Shah
KAMFA

Jayavaradhan Sambedu
Curl Analytics

Ajit Ranade
Aditya Birla Group

Avnish Jain
Canara Robeco Asset Management Company

Kunal Bajaj
MobiKwik

Pankaj Murarka
Renaissance Investment Managers

Rahul Vohra
Millerhill Advisors

Arjun Parthasarathy
INRBONDS.com

Saugata Bhattacharya
Axis Bank

Shilpa Kumar
ICICI Securities

Morningstar Speakers

Aditya Agarwal
Morningstar

Dan Lefkovitz
Morningstar

Leslie Marshall
Morningstar

Rob Pinkerton
Morningstar

Steve Wendel
Morningstar

Jeffrey Ptak
Morningstar

Nicholas VanDerSchie
Morningstar

Philip Straehl
Morningstar

Dhaval Kapadia
Morningstar

Kaustubh Belapurkar
Morningstar

Agenda

 

Agenda is subject to change.

9:00 – 9:45

Registration

9:45 – 9:55

Welcome Remarks

Aditya Agarwal, MD, Morningstar India

9:55 – 10:20

Opening Remarks

Kunal Kapoor, CEO, Morningstar Inc.

There has never been a better time for great financial advice. Amid all the regulatory uproar, we should not lose sight of the rapid intersection of technology with the investing discipline. Great advice is Personal, Efficient and Innovative. Exploit technology to enable you address the needs, wants and preferences of your clients. Eventually, it is all about investor empowerment.

10:20 – 11:10

India: State of Fragility or Ripe for Rally?

Mark Mobius, Founding Partner, Mobius Capital Partners

While U.S. President Donald Trump has singled China out as the main problem as he tries to reduce his country’s trade deficit, he has also cited India’s high import tariffs. Meanwhile, India has its own battles. As the Federal Reserve raises rates, fund flows to India will wane. The mounting costs of oil have worsened the import bill, while exports remain lackluster. India’s currency has plunged to an all-time low. Mark Mobius, dubbed by many as the 'Pied Piper' of emerging markets, shares a global investor’s perspective on investing in India from an emerging markets’ frame of reference.

11:10 – 11:40

Morningstar's Perspective on Global Markets

Philip Straehl, Head of Capital Markets and Asset Allocation, Morningstar

The U.S. surges ahead with the help of a pro-cyclical fiscal boost albeit with a tightening monetary policy. The eurozone is slowing, as the European Central Bank scales down its asset buying programme. China battles weaker consumption growth. Increased protectionism is the clearest menace to the near-term global outlook. Any escalation into a trade war could deal knock-on blows to sentiment. The potential impact of ongoing geopolitical events on the price of crude will have a major impact on the Indian economy. A presentation on Morningstar’s outlook and risk-reward expectations for global assets over the next 10 years.

11:40 – 12:00

Tea/Coffee Break

12:00 – 12:35

Behavioural Biases

Steve Wendel, Head of Behavioral Science, Morningstar

We all know that investors face common behavioural challenges in investing: from overconfidence to confirmation bias. In recent years, there has been a slew of research concerning the biases that advisers exhibit as well. Although advisers and other professionals are highly trained and skilled in their trade, they are not immune to the everyday behavioural biases we all face. This presentation takes a look at the behavioural biases found among financial advisers—both in investing, and in interacting with clients — and offers practical techniques on how to overcome them.

12:35 – 13:25

The Road Ahead: Economic Outlook

Ajit Ranade, President & Chief Economist, Aditya Birla Group

General Elections are to be held in 2019, which implies significant political compulsions on the economy. Rising price of crude, apathetic export numbers and the depreciation of the rupee has led to a polarized debate that is heavy on rhetoric but low on facts. The last five quarterly numbers show an upward GDP growth trend. How difficult will this be to sustain? Ranade, an economist and keen political observer, looks at the four major macro factors at play - CAD, fiscal deficit, inflation and interest rates.

13:25 – 14:25

Lunch

14:25 – 15:10

The Hunt for Value

Sanjoy Bhattacharyya, Managing Partner, Fortuna Capital / Neelesh Surana, CIO, Mirae Asset (India) / Pankaj Murarka, Founder, Renaissance Investment Managers / Saurabh Mukherjea, Founder, Marcellus Investment Managers / Sailesh Raj Bhan, Deputy CIO, Reliance Mutual Fund

After a stellar run last year, the stock market has largely come to grinding halt. While valuations of quality stocks continue to be stretched, there are others that stubbornly stay overvalued despite a correction. There are no signs of volatility abating as the country moves into a period of greater uncertainty leading up to the 2019 General Elections. These accomplished money managers share perspectives on where value can be found, and how they plan to traverse such treacherous territory.

15:10 – 15:45

In Conversation

15:45 – 16:25

Financial Advice: Mapping the Future

Dhaval Kapadia, Director, Portfolio Specialist, Morningstar Investment Adviser India / Kunal Bajaj, Head of Wealth Management, MobiKwik / Neelesh Shah, President, KAMFA / Rahul Vohra, CEO, Millerhill Advisors / Sadique Neelgund, Founder, Network FP

The fund distribution and advisory industry in India seems to be at the crossroads. In an evolving regulatory environment that jostles with the rise of the digital age and robotic advice, players are forced to rethink their business models. They also need to grapple with a new generation of millennial investors who seamlessly incorporate emerging technological skill sets into their stride and don’t necessarily follow a regimented career path. More recently, financial markets have turned volatile bringing into question the domestic-focused asset allocation approach. Industry experts discuss.

16:25 – 16:45

Tea/Coffee Break

16:45 – 17:25

Digital Disruption: Evolution or Revolution

Jeff Ptak, Head of Global Manager Research, Morningstar Research Services / Kunal Kapoor, CEO, Morningstar Inc. / Nicholas VanDerSchie, Head of Managed Portfolio Services, Morningstar Investment Management / Rob Pinkerton, Head of Marketing, Morningstar

The rise of biometrics, chatbots and digital assistants, points to the start of the AI era. Companies are already working out ways to gain significant advantage over their competitors using big data, machine learning or AI – or all three. Blockchain has the potential to disrupt existing business models, as companies use it to cut costs, improve services, and widen economic moats. Meanwhile, disruption is taking place in wealth management delivery models as financial advice gets digitally enhanced. A discussion on the hottest topics in the financial services industry

17:25 – 18:45

The Pursuit of Alpha

Bharat Shah, Executive Director, ASK Group / Hiren Ved, Director & CIO, Alchemy Capital / Sanjay Bakshi, Managing Partner, ValueQuest Capital LLP

No one beats the market on hunches and gut feel. As varied investing philosophies crowd the market place, each investor must possess his own ‘holy grail of investing’. Some of India’s savviest investors share insights on how they identify companies that are innovating and providing value for shareholders. These seasoned investors disclose their stock-picking strategy and the bedrock principles that are behind their decisions.

18:45 – 19:15

Standup Comedy

Atul Khatri

19:15 onwards

Cocktails & Dinner

8:00 – 8:30

Registration

8:30 – 9:15

Meditation Session - Technologies for Well Being

Isha Foundation

“Once your thought, emotion and energies are organised, your very body will also get organised. Once all these four are organised in one direction, your ability to create and manifest what you want is phenomenal.”

- Sadguru

9:15 – 9:45

Refreshments

9:45 – 10:10

Opening Remarks

Rob Pinkerton, Head of Marketing, Morningstar

The CMO of Morningstar talks about how one of the largest financial research firms in the world aligns its marketing organization to client expectations, what makes a modern marketer, and the marketing technologies employed.

10:10 – 11:00

The 10 Commandments of Investment Management

Mohnish Pabrai, Managing Partner, Pabrai Funds

Pabrai successfully combines the old value tenets of Graham and Buffett with a modern, holistic approach to stock investing. His “heads I win, tails I don’t lose much” approach gives no attention to the macro perspective, but leads him to scout for significant mispricing. This approach ties in with his idea of “low risk, high uncertainty” investing which he picked up from entrepreneurs. Entrepreneurs generally do not gravitate towards a high risk-high return scenario but do everything they can to minimize risk; they focus on low-risk bets which have high-return possibilities. Listen to Pabrai share his insights.

11:00 – 11:25

A Secular Shift in Global Investing

Dan Lefkovitz, Strategist, Morningstar Indexes

While we are familiar with ethical funds and socially responsible funds, the world is now getting bamboozled by sustainability terminology. At Morningstar, we define sustainability as a long-term investing approach that incorporates Environmental, Social and Governance criteria into investing. As the world transitions to a low-carbon economy and the myth has been busted that a performance penalty is associated with ESG, investors are placing greater importance on the sustainability practices of the companies in their portfolios. The presenter will look at how this trend is being adopted by mainstream asset managers and gaining acceptance at the retail level too. 

11:25 – 11:45

Tea/Coffee Break

11:45 – 12:25

In Conversation

John Bogle, Founder, The Vanguard Group

One of the brightest icons in the financial world, Vanguard founder John Bogle, revolutionized investing. He championed the unembellished truth that every dollar an investor pays in expenses to a mutual fund, is a dollar he cannot use for his own savings goals. If his investing philosophy had to be summed up in a line, it would read as: The economics of investing are productive, the emotions of investing are counterproductive. At the conference, we will showcase John Bogle in a pre-recorded interview addressing the audience in India.

12:25 – 13:10

Navigating the Fixed Income Space

Kaustubh Belapurkar, Director, Manager Research, Morningstar India / Arjun Parthasarathy Founder, INRBONDS.com / Avnish Jain, Head of Fixed Income, Canara Robeco / Saugata Bhattacharya, Senior Vice President & Chief Economist, Axis Bank

This has been a tough year for active bond managers. Oil prices trended upwards, the rupee witnessed a prolonged losing streak against the dollar, the current account deficit widened, the fiscal deficit put pressure on government borrowings, there were some significant downgrades in paper, and yields inched northwards. A greater focus on the shorter end of the curve and high yielding credit brings its own set of challenges. Veteran managers and an  economist discuss how these factors are shaping their investment views and how investors must streamline their fixed income portfolios.

13:10 – 14:10

Lunch

14:10 – 14:45

Outsourced Investment Management

Dhaval Kapadia, Director, Portfolio Specialist, Morningstar Investment Adviser India / Nicholas VanDerSchie, Head of Managed Portfolio Services, Morningstar Investment Management

Outsourcing of the investment management function is gaining in popularity. It helps firms address portfolio complexity and risk management challenges. In fact, around 79% of U.S. advisers outsource all or some of the portfolio construction function. This presentation will explore global trends and its relevance to Indian advisers - the reasons behind the selection of managed account services, the need for competitive differentiation and growing scale.

14:45 – 15:30

Inspiring Clients to Follow Your Best Advice

Steve Wendel, Head of Behavioral Science, Morningstar

Even when investors receive sound advice from their financial adviser they struggle to follow through and apply it for their own benefit. In this workshop, you will hear about how behavioural science can help advisers comprehend the obstacles investors face when it comes to decisive action, and how advisers can tailor interventions to overcome them. Building on academic research, Wendel will focus on practical applications in an investment context.

15:30 – 15:55

The Promise of Blockchain

Jayavaradhan Sambedu, Co-founder & CTO, Curl Analytics

Blockchain is an ingenious invention which allows digital information to be distributed but not duplicated or manipulated. It was originally devised for the digital currency Bitcoin, which is the world’s most popular and successful crypto currency. However, in recent times we have seen a surge of other blockchain platforms. Here’s why it will shape industries in the time to come.

15:55 – 16:15

Tea/Coffee Break

16:15 – 16:45

Harness the Power of Social Media

Leslie Marshall, Head of Experiential Marketing, Morningstar

Social Media is not a fad or a trend. It is a critical tool to help business owners build, craft and enhance their brand. IFAs can effectively employ SM to connect with the right audience and attract new business, while also creating stronger engagements with clients. Leslie Marshall looks at SM trends, advises on how to select the right SM platform, and how to approach this space with a game plan and strategy.

16:45 – 17:45

Ramifications of the Decrease in TER

Ajay Bagga, Executive Chairman, OPC Asset Solutions / Ashish Chauhan, MD & CEO, BSE / Jeff Ptak, Head of Global Manager Research, Morningstar Research Services / Monika Halan, Editor, Mint

It seems to be a watershed moment for the asset management players. The industry has been riding a rising tide of wealth, supported by demonetization and the shift from physical to financial assets. The mutual fund regulator – SEBI, lowered the Total Expense Ratio (TER) of the mutual fund industry. Further, SEBI has mandated the adoption of a full trail model by doing away with upfront commissions.  As the industry adapts to this reality, how will it affect its expansion, and investors? A discussion.

17:45 – 17:55

Closing Remarks & Distribution of Prizes

Aditya Agarwal, MD, Morningstar India

When You Get Here

Welcome to Mumbai

Its Morningstar India’s home and hub for business and culture. At Hotel Sahara Star Mumbai, you’ll be steps away from Mumbai airport, dining, shopping and more.

Where you’ll Stay

Unwind at the Hotel Sahara Star Mumbai after a full day at the conference. The hotel is located in the centre of the city. Get a special hotel rate as a conference attendee.

Note: Hotel room fees are not included in the conference price. You must book and pay for your room individually.

Hotel Sahara Star, Sapphire Ballroom

Opposite Domestic Airport, Vile Parle (East),

Mumbai- 400099

Book Your Room

Morningstar does not hire or authorize anyone to contact you to book your rooms at the Hotel Sahara Star for the Morningstar Investment Conference.

If you are contacted by a third party to book your room at the Hotel Sahara Star for the Morningstar Investment Conference. Please contact : micindia@morningstar.com

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See you at the conference.

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