Following the success of the inaugural event in 2014, the Morningstar Institutional Conference in Hong Kong held on 9 June 2015 once again gathered financial experts and leading fund managers to share their perspectives on current trends in the industry. More than 180 delegates across the financial services industry attended the conference.
The theme for this year’s Morningstar Institutional Conference is “Joining the dots in Asian financial markets”. With the rapid growth of Asian bond issuances, liberalization of the RMB, Shanghai-Hong Kong Stock Connect and the continual progress made in regional fund passport schemes, Asian financial markets are undergoing a transformation that is likely to have profound implications for investors. Meanwhile, the rising middle class and aging population in Asia are likely to lead to increasing demand for investment products and retirement solutions. Intended for Asia-based institutional investors and wealth managers, the conference delivered latest industry insights and practical investing ideas that seek to take advantage of the investment opportunities that arise out of this structural development in Asia.
Morning keynote speaker John Tsang, financial secretary of the Government of the Hong Kong S.A.R., shared Hong Kong’s perspectives on the structural developments shaping future financial markets and how Hong Kong fits into the landscape of an increasingly connected and integrated Asian financial market.
“Of course, it is clear that the competition is rising throughout the region. But I always believe that competition drives progress. Hong Kong and our ostensible "competitors" can complement each other by capturing the opportunities arising from our increasingly connected and integrated financial markets.
“Market linkage is Hong Kong's natural competitive advantage. Overseas market participants wanting to tap the opportunities in the Mainland, along with those of other new markets in Asia, particularly South East Asia, are keen on establishing a presence right here in Hong Kong.” John Tsang said in the conference.
Tsang also mentioned the recent initiative -- the mutual recognition of funds, or the "MRF" arrangement, between the Mainland and Hong Kong. “Indeed, the arrangement can transform Hong Kong from a fund-distribution centre into a major fund domicile, sharpening our competitive edge as a premier international asset management centre.“ (You can read the full speech here.)
Afternoon keynote speaker Dr. Sun Jie, former chairman of the Asset Management Association of China, provided insights into China’s reform agenda, from reducing bureaucracy in businesses to initial public offering reform, and explores the policy implications and challenges of greatest relevance to the finance industry.
Other highlights of Morningstar Institutional Conference 2015 include:
- Haywood Kelly, Morningstar’s global head of research, highlighted the results of recent Morningstar research thought leadership and the findings of the company’s latest Global Fund Investor Experience report, which assesses the experiences of mutual fund investors in 25 countries around the world.
- First State’s Martin Lau, Aberdeen’s Flavia Cheong, and Fidelity’s Dhananjay Phadnis shared their outlooks for Asian equities in light of the strengthening U.S. dollar, falling commodity prices, and structural developments such as the Shanghai-Hong Kong Stock Connect.
- JPMorgan’s Stephen Chang, Franklin Templeton’s Vivek Ahuja, and Schroders’ Rajeev De Mello offered their views on the developing Asian bond market and the implications for investors.
- James Xiong of Morningstar’s Investment Management group discussed the economic value of forecasting tail risk and its implications for portfolios.
- Morningstar’s Michael Holt used stock examples to explain how Morningstar’s proprietary research can help clients build and manage robust and effective equity portfolios.
- 8 Securities’ Mathias Heleu and Morningstar’s Anthony Serhan discussed the digital evolution of providing wealth advice.
In the following weeks, we will share the highlights of selective sessions above.
Morning keynote - John Tsang, Financial Secretary, The Government of the Hong Kong S.A.R., identified some of the opportunities and challenges arising from the increasing interaction and integration of Asia’s financial markets.
Haywood Kelly, Global Head of Research, Morningstar Inc, highlighted the results of current Morningstar thought leadership across retirement and stewardship.
Morningstar’s Chief Investment Officer for Asia Pacific, Andrew Lill, shared his asset class outlook from the perspective of an Asia-based investor.
Attendees networked with peers and engaged with industry leaders in tea breaks.
JPMorgan’s Stephen Chang (right 2), Franklin Templeton’s Vivek Ahuja (right 1) and Schroders’ Rajeev De Mello (left 2) shared views on what this means for the development of the Asian bond market and the implications for investors.
Morningstar’s James Xiong shed light on the economic value of forecasting tail risk.
Mathias Heleu (right), Chairman of 8 Securities and Morningstar’s Anthony Serhan (left) discussed how technology is helping introduce a range of new options for investors.
Delegates across the financial services industry joined us for compelling presentations and discussions led by Morningstar experts, regulatory bodies and other industry professionals.
Dr Sun Jie, ex-chairman of AMAC, provided insights into China’s reform agenda in the afternoon keynote session.
Michael Holt, Morningstar’s global head of equity research used stock examples to detail how Morningstar’s proprietary research can help build and manage robust and effective equity portfolios.
First State’s Martin Lau (right 2), Aberdeen’s Flavia Cheong (right 1) and Fidelity’s Dhananjay Phadnis (left 2) shared their views on the outlook for the important asset class of equities in light of a strengthening US dollar, falling commodity prices and structural dev-elopments such as the Shanghai-Hong Kong Stock Connect.
(From right to left) Morningstar’s Wing Chan, Jeff Ptak, Jin Tao, Joel Bloomer and Anthony Serhan reiterated and analyzed the major investment themes discussed during the day.
Nick Cheung, Asia CEO, Morningstar gave concluding remarks.