On the Agenda
Agenda is subject to change.
Welcome and Introduction
Jamie Wickham, CFA, Managing Director, Morningstar Australasia
Keynote Address: Global Investing in Turbulent Geo-political Times
Vihari Ross, Global Portfolio Manager, Magellan Asset Management / Peter Bull, Head of Equity Investments, Morningstar Investment Management / Jay Sivapalan, Co-head of Australian Fixed Interest, Janus Henderson / Moderator: Emma Wall, Senior International Editor, Morningstar
What is the impact of geo-political risk on global markets? We discuss trade tariffs, political turmoil, interest rates and more. What should investors engage with, how should you invest through the noise and how important is macro when making market decisions?
Australian Share Market Outlook
Peter Warnes, Head of Equities Research, Morningstar Australasia
Following a largely positive earnings season for full-year 2018, the outlook for fiscal 2019 is less positive. Peter Warnes discusses what he expects from financials, commodities, energy and other key sectors in the year ahead, and takes questions from the audience.
The Art and Science of Valuing Stocks
Concurrent Stream: Investing Classroom (Main Theatre)
Adam Fleck, Director of Equity Research, ANZ, Morningstar
Have you ever wanted to estimate your own fair value for stocks? Adam Fleck guides you through the process of building a forecast, discounting future cash flows, and incorporating a company's moat into your analysis.
How to Establish and Maintain an SMSF Pension
Concurrent stream: SMSF (The Lyceum)
Peter Hogan, Head of Technical, SMSF Association
Transitioning your SMSF from accumulation to pension mode involves a number of complexities, both in establishing and maintaining it. But Peter Hogan explains what you need to know.
Funds, LICs & ETFs: What it Takes to Win Morningstar Gold
Concurrent stream: Investing Classroom (Main Theatre)
Matt Wilkinson, Senior Manager Research Analyst
Managed investments come in all shapes and sizes from the traditional managed fund and superannuation options through to listed investment companies and exchange traded funds. This session will look at the advantages of managed investments, the different options and how Morningstar analysts determine which options achieve the highest Morningstar Analyst Rating.
SMSFs & Estate Planning Under the New Transfer Balance Caps
Concurrent Stream: SMSF (The Lyceum)
Shane Ellis, SMSF Specialist Lawyer, Shane Ellis Legal Group
It is critical to get your SMSF documentation and estate planning correct to keep the maximum amount in your tax effective SMSF, both now and upon the death of the first spouse. Correct planning and procedures means tax can be legally minimised, or even totally avoided, and maximum amounts can be retained in your pension account.
This session is key for all SMSF Members and Trustees.
20 Lessons from the Market
Concurrent stream: Investing Classroom (Main Theatre)
Anton Tagliaferro, Founder, Investors Mutual Limited
The investment team at Investors Mutual have developed 20 lessons from 20 years of quality and value investing to mark their anniversary. Anton will share some of the learnings for investors in the Australian sharemarket.
The Roadmap for Retirement
Concurrent Stream: SMSF (The Lyceum)
Robin Bowerman, Head of Marketing Strategy and Communications, Vanguard Investments Australia
To help ensure your fund prospers in the new post-retirement regulatory environment, we explore some of the imminent policy changes and how Australia's shifting demographics are influencing this.
Global Equities Keynote Address
Andrew Clifford, Chief Executive Officer, Platinum
Are we late cycle and are markets overvalued? The answer depends very much on where one looks. Amid high valuations for winners and disruptors, deep value can be found in more prosaic businesses such as industrials, financials and other cyclicals. Find out more from Andrew Clifford, Platinum’s CIO.
Small Cap Investing: Higher Returns but Greater Risk?
Dawn Kanelleas, Senior Portfolio Manager, Colonial First State Global Asset Management / Ben Griffiths, Founder, Eley Griffiths Group / Moderator: Ross Macmillan, Senior Analyst, Manager Research, Morningstar Australasia
Small-cap stocks generally provide high returns, but are perceived to hold more investor risk. However, most active small-cap managers covered by Morningstar have outperformed both the small- and large-cap indices over the long-term. Dawn Kanelleas and Ben Griffiths will discuss their view of the opportunities and risks of small cap investing, and how they have positioned their portfolios to benefit from rapid technological, social and economic changes.
Best Stock Ideas
Adam Fleck, CFA, Director of Equity Research, ANZ, Morningstar / Brian Han, Senior Equity Analyst, Media & Telcoms, ANZ, Morningstar / David Ellis, Senior Equity Analyst, Banking and Insurance, ANZ, Morningstar / Gareth James, CFA, Senior Equity Analyst, Technology, ANZ, Morningstar
Morningstar sector specialists from our equity analysis team will delve into some of their favourite companies, providing expert insights and their future outlook.
Checking out the Royal Commission: Lessons for Financial Consumers
Julian Morrow, Comedian and Television Producer, The Chaser, The Checkout
Former member of The Chaser comedy team, and Producer of irreverent ABC TV consumer affairs program The Checkout, Julian applies his unique wit to some of the financial industry's shortcomings uncovered earlier this year.
7:30 a.m.–7 p.m.
Breakfast in the Exhibit Hall
General Session 1
Andrew Ang, BlackRock
General Session 2
Chris Brightman, Research Affiliates
Making Sense of the Multitude of Multifactor ETFs
Lukas Smart, Dimensional Fund Advisors / Kal Ghayur, Goldman Sachs / Rob Nestor, BlackRock / Adam McCullough, Morningstar
Multifactor ETFs have multiplied in recent years. Spreading one’s factor bets makes sense, but making sense of the current menu of these funds is a tall task. Our expert panel will unpack the key considerations investors should take when doing their due diligence on these funds.
How Might Defensive Strategies Fare in a Rising Rate Environment?
Darby Nielson, Fidelity Investments / Raman Aylur Subramanian, MSCI / Jason Stoneberg, Invesco PowerShares / Alex Bryan, Morningstar
Should interest rates continue to rise, investors in stodgy traditional strategies may be in for a surprise. Panelists will discuss how playing defense through buying dividend payers and less volatile stocks may leave their flank exposed in a rising rate environment.
11:45 a.m.–12:45 p.m.
Is There Potential for Strategic Beta in Fixed Income?
Sal Bruno, Index IQ / Martin Kremenstein, Nuveen Investments / Kevin Flanagan, WisdomTree / Phillip Yoo, Morningstar
While strategic-beta ETFs have proliferated in the equity space, the fixed-income arena still looks relatively ripe for new approaches to building bond portfolios. This discussion will focus on the current crop of strategic-beta bond ETFs and what the future might hold for rules-based bets on bonds.
Shades of Value
Wes Gray, Alpha Architect / John Ameriks, Vanguard / John West, Research Affiliates / Daniel Sotiroff, Morningstar
Value strategies come in many different approaches, each of which might yield very different investment outcomes. Our expert panel will discuss the varieties of value approaches and how investors might select the one that best suits their tastes.
Luncheon and Keynote Presentation
Richard Thaler, University of Chicago
Not All Small-Cap Indexes Are Created Equal
Craig Lazzara, S&P Dow Jones Indices / Rolf Agather, FTSE/Russell Investments / Paul Kim, Principal Global Investors / Ben Johnson, Morningstar
Small-cap stocks are an essential ingredient in a well-diversified portfolio. For investors opting for a passive approach in the small-cap space, understanding index construction is paramount, as differences in the makeup of small-cap benchmarks are material. This discussion will center on those differences and frame them in the context of asset allocation.
Tricks of the Trade
David Mann, Franklin Templeton Investments
Trading ETFs can be tricky business. This trading tutorial will cover best practices in ETF trading and how to navigate the ebbs and flows of ETF liquidity.
How Is the Rise of Passive Investing Influencing Corporate Governance?
Michelle Edkins, BlackRock / Glenn Booraem, Vanguard / Rakhi Kumar, State Street Global Advisors / Ben Johnson, Morningstar
The growth in assets under management in index funds and ETFs has consolidated ownership of many stocks among a small handful of asset managers. Our panel will discuss how these firms are using their sway to influence corporate agendas and whether passive investors can be agents of change.
The Case for International Equities
Fran Kinniry, Vanguard / Jeremy Schwartz, WisdomTree / Michael Arone, State Street Global Advisors / Alex Bryan, Morningstar
It’s been tough to make the case for international diversification in recent years, as U.S. stocks have trounced their counterparts overseas. Is the case for international diversification dead? Our panel will explore the rationale for building a portfolio of stocks that extends beyond U.S. borders.
General Session 3
Barry Ritholtz, Ritholtz Wealth Management
Reception in Exhibit Hall
When You Get Here
Welcome to the Wesley Conference Centre
The Wesley Conference Centre is conveniently located in the heart of Sydney’s CBD and easily accessible by public transport.