Morningstar® Investment Conference

28–29 April 2020 | Royal Lancaster London

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.

2019 Speakers

Nick Britton ACSI

Association of Investment Companies

Works with financial planners and wealth managers to improve their understanding of investment companies through conferences, online courses and bespoke training. Graduated from Cambridge and holds the Investment Management Certificate.

Brian Byrne

Aviador & Assoc

A futurist and global business war gamer who advises clients in Financial Services, Fast Moving Consumer Goods & Technology. Analyses mega-trends, geopolitical themes and digital innovation to generate future scenarios.

Dominic Colenso

In Flow Training

Dominic Colenso is an actor and communications expert. As an actor he has starred alongside some of the UK’s most famous performers. As founder of In Flow, he now works with businesses around the world, helping individuals and teams take centerstage and deliver outstanding performances.

David Dudding

Columbia Threadneedle Investments

Joined the company as an equity research analyst in 1999 and is currently a portfolio manager within the European equities team. Manages the Threadneedle European Select Fund and the Threadneedle (Lux) Global Focus fund.

Ed Gillespie

Futerra

Writer, communications specialist, serial entrepreneur and futurist. Ed’s core talent is to take the complex, interconnected, interdependent nature of the many challenges the world faces and make common sense of them for non-specialist audiences.

Simon Hix

London School of Economics

Pro-Director for Research and the Harold Laski Professor of Political Science. Simon is one of the leading researchers, teachers and commentators on European politics in the UK. Has won several prestigious prizes & fellowships for his research.

Heather Hopkins

NextWealth

Heather Hopkins is a data and research expert specialising in retail investment distribution. Heather is the Managing Director and Founder of NextWealth. She is also a Director of Clive Waller Consulting Ltd and serves as Vice-Chair of The Investment Network and the Schroders UK Platform Awards.

Dan Kemp

Morningstar Investment Management group

Dan Kemp is Chief Investment Officer for Morningstar’s Investment Management group for the Europe, Middle East and Africa region. Dan leads Morningstar’s 20-strong investment management team for the EMEA region, working with advisers and institutions to help them deliver world-class investment solutions to investors. Dan joined Morningstar in 2014 as co-Head of Investment Consulting and Portfolio Management in the EMEA region. He previously served with Albemarle Street Partners, an investment consultancy partnership that he co-founded. Prior to Albemarle, he worked for Saltus Partners, managing the firm’s flagship Saltus Multi Asset Class Fund. He has also worked as fund manager and head of fund research for Williams de Broë (formerly Christows). Dan has 19 years’ experience in research, investment management and investment consulting. He has managed a wide variety of portfolios, specialising in multi-asset risk graded products. He is also a well-known commentator on investment issues.

William Lam

Invesco

Based in Henley-on-Thames, William is Co-Head of our Asian & Emerging Markets Equity team. He manages the Invesco Asian Fund (UK) and co-manages the Invesco Pacific Fund (UK) and the Invesco Global Emerging Markets Fund (UK).

Holly MacKay

Boring Money

Holly has worked in finance since 1999. She is the Founder and CEO of independent consumer financial website, Boring Money. She passionately believes that investments shouldn’t just be for “The Old Boys” and is on a personal mission to make investing accessible and engaging to more “normal” people. Holly read Modern Languages at Oxford, specialising in Medieval French which obviously made her immediately highly employable. She went backpacking in Australia, worked in TV for a while and then decided that TV was boring but the stock market was awesomely interesting. She held senior roles at Merrill Lynch, Aviva and Santander before setting up her first business, The Platforum, in 2008. She sold the business to Centaur Media in 2011, moving on in 2014. She launched Boring Money in July 2015. Holly is a regular media commentator and contributes to the BBC, Talk Radio, The Times, The Telegraph and The Mail on Sunday amongst others.

Paul Malone

Morningstar

Paul Malone is UK CEO & West EMEA Regional Leader, responsible for leading the company’s go-to-market strategy for the United Kingdom, South Africa, and the Middle East. Paul joined Morningstar in 2009 as Vice President of Sales and Business Development for institutional software. In this role, he led a team of people in the rapid growth of Morningstar Direct in the UK. Before assuming his current role in 2019, he was Head of UK Sales & Business Development, responsible for maintaining and developing the commercial relationships for all Morningstar products and services in the UK.

Jonathan Miller

Morningstar

Jonathan Miller is Director of Manager Research for Morningstar UK, responsible for leading the team of analysts who research approximately 500 open- and closed-end funds managed from the UK, and who determine the Morningstar Analyst Ratings for those funds.

Catherine Morgan

The Money Panel

Founder of The Money Panel - A financial coaching business to help women manage, save and invest with confidence. Catherine also has a huge passion for educating women around behavioural, emotional and practical aspects of money.

Kevin Murphy

Schroders

Co-head of the Global Value Team at Schroders, and a founding member in 2013 of this team of value investors who manage UK, European and global portfolios. He is co-manager of the Schroder UK Income, Schroder UK Recovery and Global Recovery funds.

Ryan Murphy

Morningstar

Ryan O. Murphy, Ph.D., is head of decision sciences for Morningstar Investment Management and a member of the behavioral insights team. Murphy’s research is interdisciplinary, bringing together methods from experimental economics, cognitive psychology, and mathematical modeling. The focus of his research is to better understand how people make decisions, especially about risk and money. His current work centers on measuring people’s preferences, dynamic goal-centric portfolio choice, and developing methodologies and frameworks that improve decision making quality.

Marcus Phayre-Mudge

BMO Global Asset Management

Managing TR Property Investment Trust since 2011 and is a partner at Thames River Capital (now part of BMO Global Asset Management). Marcus is also a co-manager of the BMO Property Growth & Income Fund and BMO Global Real Estate Securities Fund.

David Pyle, CFA

Boston Partners

Mr. Pyle has been a portfolio manager for the Boston Partners Large Cap Value strategy since 2005. Prior to assuming this role, he was a research analyst covering the utility, insurance, leisure & lodging, packaging, publishing, and computer equipment & services sectors. Mr. Pyle joined the firm in 2000 from State Street where he was a research analyst and associate portfolio manager in their equity value group. Prior to that, he spent five years with Price Waterhouse. Mr. Pyle holds a B.S. degree in business administration from California State University, Chico, and an M.B.A. degree from the Kenan-Flagler School of Business at the University of North Carolina. Mr. Pyle holds the Chartered Financial Analyst® designation. He has twenty-three years of investment experience.

Jonathan Ruffer

Ruffer LLP

Trained as a stockbroker and barrister before moving into private client investment management in 1980. Established Ruffer Investment Management Ltd in 1994 and transferred its investment business to Ruffer LLP in 2004.

Karen Ward

JP Morgan

Chief Market Strategist for EMEA, Karen delivers insights into the economy and financial markets to professional investors globally. Karen has considerable experience in both public policymaking and economic and financial analysis.

Richard Woolnough

M&G Investments

Joined M&G in 2004 and is fund manager of the M&G Optimal Income Fund, Corporate Bond Fund and Strategic Corporate Bond Fund. Richard began his career at Lloyds Merchant Bank in 1985 and in 1995, he became a fund manager at Old Mutual.

2019 Agenda


08:00 – 09:00

Registration & Networking Breakfast


09:00 – 09:10

Welcome Address

Paul Malone, UK CEO & West EMEA Regional Leader, Morningstar


09:10 – 09:45

Your Guide to the Markets

Karen Ward, Chief Market Strategist EMEA, J.P. Morgan Asset Management

Karen Ward, J.P. Morgan Asset Management's Chief Market Strategist for EMEA will discuss the key trends and themes that are likely to shape global markets. She will also share her unique perspective on the key issues that she believes are important to monitor as we approach the next stage in the market cycle.


09:45 – 10:20

Finding the winners in an increasingly uncertain world

David Dudding, Senior Portfolio Manager, Columbia Threadneedle Investments

Companies come and go, so what makes some stand the test of time? As disruptors emerge and challenge traditional industries, even the most established companies must adapt to maintain a competitive edge. Many will succumb to the pressures of creative destruction, while even the disruptors might find themselves disrupted. Against this backdrop, David Dudding provides insight into the power of competitive advantage and how its sustainability is often underestimated by the market.


10:20 – 10:55

Ignore the Investment Laws of Physics at Your Own Peril: Why Value, Why Now

David Pyle, Portfolio Manager, Boston Partners

David Pyle, co-portfolio manager of the Boston Partners flagship U.S. value equity strategy, will discuss some simple investment rules. Investors who adhere to these should have long-term investment success.


10:55 – 11:20

Networking Coffee


11:20 – 11:55

Where next for fixed income investors?

Richard Woolnough, Fund Manager, M&G Investments

Richard will discuss his thoughts on the global macro-economic environment, the challenges and the opportunities this presents to fixed interest investors and where he sees value in global bond markets.


11:55 – 12:30

Opportunities in Value

Kevin Murphy, Fund Manager, Schroders

Value investing is the art of buying stocks which trade at a significant discount to their intrinsic value. Value investors achieve this by looking for companies on cheap valuation metrics, typically low multiples of their profits or assets, for reasons which are not justified over the longer term. This approach requires a contrarian mindset and a long term investment horizon. Over the last 100 years a value investment strategy has a consistent history of outperforming index returns across multiple equity markets. In his presentation, Kevin Murphy, Co-head of the Global Value Team at Schroders, will explain why this approach might not always be in favour in the short term, however aims to deliver Income and Capital growth in the medium / long term. He will explain why the team adopt a contrarian and patient view to Investing and will demonstrate a number of tried and tested ways that will help adviser’s understand and add value to their client’s investment propositions.


12:30 – 13:45

Networking Lunch


13:45 – 14:20

How can you articulate and evidence value? The existential crisis of every business big or small

Holly Mackay, CEO & Founder, Boring Money

Whether you are an adviser selecting a platform, a wealth manager competing for clients or fund manager under scrutiny, there is more of a spotlight on value than ever. But what exactly is it? And how can it be measured? Holly will share insight into what value is in the eyes of the person paying the fee; what are the core pillars of value and what importance does integrity, trust and service have?


14:20 – 14:55

Brexit - Deal or No Deal?

Simon Hix, Pro-Director for Research and Harold Laski Professor of Political Science, London School of Economics

Simon Hix will discuss where the future relationship between the UK and the EU27 is likely to be heading after the “transition period”. He will consider the economic and political interests of the two sides in the negotiations, and explain that while economic interests push towards a “softer” form of Brexit, political interests push towards a “harder” form. Simon will also consider the potential longer-term consequences of Brexit on Britain and the EU, and economic and political relations across the Channel.


14:55 – 15:30

What people look for when they seek financial advice

Ryan Murphy, Head of Decision Sciences, Investment Management group, Morningstar

Advisers can provide value to clients in many different ways, from goal setting to tax planning to behavioral coaching. But how do clients perceive the value of these services, and what to they look for when seeking advice? Our research suggests that there’s a difference between what investors value from their advisers and what advisers believe investors value, and that disconnect may create problems on both sides of the relationship. While our results show that expectations around advice aren’t always aligned, this gap can be bridged by understanding where the differences are and importantly where the value exists in client/adviser relationships.


15:30 – 15:55

Networking Coffee Break


15:55 – 16:30

How to build an ESG portfolio

Dan Kemp, Chief Investment Officer EMEA, Morningstar

As the number of ESG orientated funds continues to grow advisers are increasingly faced with the challenge of building ESG portfolios that meet the financial, social and environmental goals of their clients. In this session, Dan Kemp Chief Investment Officer for Morningstar Investment Management in EMEA will examine the key aspects of building multi-asset ESG portfolios, highlight the potential pitfalls for advisers and suggest some solutions using Morningstar’s principle-based investment approach.


16:30 – 17:05

It’s the Climate, Stupid

Ed Gillespie, Co-founder, FUTERRA

A crisis is a shortcut to the future. And we are in a climate crisis, a time of consequences. What needs to be done may well create some economic crises – winners and losers – in the traditional sense, but it would shortcut us to the better future we want. The alternative is to stave off the action required in a doomed attempt to prop up what we have, and end up opening a shortcut to the future crises we fear. This is a clear and present choice. We hold the future in our hands. It is time to invest in the future we need, not speculate on the one we might get. It is time to imagine braver.


17:05 – 17:10

Closing Remarks

Jonathan Miller, Director, Manager Research Ratings, UK, Morningstar


17:10 – 18:30

Drinks Reception


08:00 – 08:55

Registration & Networking Breakfast


08:15 – 08:45

Make An Impact: How to deliver with authority and confidence in client meetings and presentations

Breakout Session Kindly sponsored by NextGen Planners

Dominic Colenso, Founder & Head Coach, In Flow Training

What sort of impression do you make on clients? Would you like to be more confident and increase your influence? In this session you’ll learn simple techniques for improving your mindset, increasing your presence and tailoring your message to authentically engage your audience.


08:55 – 09:00

Opening Comments

Jonathan Miller, Director, Manager Research, UK, Morningstar


09:00 – 09:35

Random Walks in the Market Place

Jonathan Ruffer, Chairman, Ruffer

This talk will give a general overview of the current climate in markets, our outlook for the future and where we see the risks and opportunities along the way.


09:35 – 10:10

Pan-European Real Estate Equities Offering Liquidity & Income Growth in an Illiquid Asset Class

Marcus Phayre-Mudge, Head of Real Estate Securities Team, BMO Global Asset Management

Marcus will explore why much of the pan European real estate universe remains an attractive investment opportunity offering sustainable and growing earnings in a low interest rate environment. The reluctance of traditional sources of risk capital to commit to speculative commercial property development post the GFC has resulted in many markets experiencing supply constraints thus aiding rental growth. He will look at the evolution of new asset classes which have become institutionally relevant as well as reviewing the demise of some traditional ones. The divergence of returns at the sector level will remain a key feature of the landscape and Marcus will conclude with an examination of how real estate equities and hybrids (a mixture of physical property and real estate equities) provide the best fund solution to the perennial issue of navigating returns from this intrinsically illiquid asset class.


10:10 – 10:45

Investing from a contrarian perspective

William Lam, Co-Head of Asian & Emerging Markets Equity team, Invesco

The best companies don’t always make the best investments. William Lam’s presentation will discuss why he believes contrarian investing works, with examples of how contrarian opportunities have arisen in the past, both for the overall market and for individual stocks from a variety of sectors. The presentation will also cover his current views on the outlook for Asian markets in this context.


10:45 – 11:10

Networking Coffee Break


11:10 – 11:30

Orphaned Funds

Jonathan Miller, Director, Manager Research, UK, Morningstar

There are too many funds in the market and many are too small to be cost-effective. Morningstar analysed the extent to which such offerings are disregarded, saddled with high fees and deliver poor investor outcomes. Termed ‘orphaned funds’ this research and its findings will be brought to light in this session.


11:30 – 11:45

Suitability & Risk: the good, the bad and the ugly

Anastasia Georgiou, Director of Product Management, Indexes, Morningstar

Ana will examine the different approaches to suitability as part of the advice process.


11:45 – 12:20

Why and how to plan for intergenerational wealth in your business

Catherine Morgan, Financial Planner & Financial Coach for Women, The Money Panel

This presentation from Catherine Morgan, Financial Planner and Financial Coach will demonstrate how you can plan for intergenerational wealth, with a particular focus on women. Catherine will discuss why she believes every adviser should consider how they communicate with women and why it is important for your business. She will leave you with practical tips that you can use and an understanding of the 3 hats that we wear as financial planners of the future.


12:20 – 12:55

Platforms, Paper and Permissions

Heather Hopkins, Managing Director, NextWealth

Platform commentator, Heather Hopkins, will share her views on the latest developments on platforms. She will cover financial strength and service and will offer the latest update on e-signatures and paperless processes on platforms, a priority for many advisers. She will also share her views on the rise of advisers seeking platform permissions, as part of a trend towards the institutionalisation of retail.


12:55 – 14:10

Networking Lunch

Breakout Session: FinTech Showcase - Dragon’s Den-Style

Come and hear from some of the most innovative start-ups in the FinTech space, who are looking to help you increase operating efficiency and greater regulatory compliance within your businesses.


14:10 – 14:45

Pipes, partnerships and politics: where next for infrastructure?

Nick Britton, Head of Intermediary Communications, The Association of Investment Companies

Infrastructure has become an asset class in its own right, offering income and uncorrelated returns. But with Chancellor Philip Hammond finally sounding the death knell for PFI, what are the risks and opportunities, and how are they best accessed? Nick will provide a framework for understanding the asset class of infrastructure, including renewable energy, and offer thoughts on fund research and selection.


14:45 – 15:20

De“FAANG”ed: What Comes Next After the Great American Tech Wreck?

Brian Byrne, President, Aviador & Associates

Having correctly forecast the tech wreck of October 2018, what will be the next watershed event in the roadmap toward a Digital Future? The war between the “BAT-TMD” factions in China will heat up with what remains of the “FAANGs” so, how to position ahead of time? How will current trends and future trends reshape the digital battlefield? The old adage is “the enemy of my enemy is my friend” – could we see new alliances emerge? Brian’s interactive Digital Disruption War Gaming session will help you shape the future of not only the world but of your investment portfolio.


15:20 – 15:30

Closing Remarks

Jonathan Miller, Director, Manager Research, Morningstar

When You Get Here

Welcome to London

London is home to Morningstar's European Headquarters. At the Royal Lancaster London, you'll be based centrally and a walk away from the likes of Oxford Street, Park Lane, and Paddington.

Where You’ll Stay

Relax at the Royal Lancaster Hotel, a stone throw away from Hyde Park, the largest of the Royal Parks. Enjoy the best views of London and explore the city with Lancaster Gate tube station situated adjacent to the hotel and Knightsbridge and Oxford Street within a 15-minute walk.

Royal Lancaster Hotel
Lancaster Terrace
London, W2 2TY

The Caesar Hotel
26-33 Queen’s Gardens
London, W2 3BE

Mornington Hotel, London Hyde Park
12 Lancaster Gate
London, W2 3LG

rates not guaranteed

Park Grand London Lancaster Gate Hotel
14-16 Craven Hill Lancaster Gate
Paddington, London W2 3DU

rates not guaranteed

Thank You to Our Sponsors

Be a visible part of the MIC experience by becoming a sponsor. It’s about more than attendees seeing your company’s logo—it’s an effective way to reach decision makers.


Conference Partners


Lead Sponsors

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See you at the conference