SMARTMONEYMATCH>Events>Professional Investment Conference 2015


1st Annual Conference on Professional Investment


27th and 28th October 2015

Zurich Marriott Hotel in Zurich, Switzerland


Uhlenbruch Zurich Conference 2015




27th and 28th October 2015

Zurich Marriott Hotel in Zurich, Switzerland


Attendance fee: 1.995,00 CHF net (plus VAT)



International Keynote Speaker


Prof. Christopher J. Malloy, Ph.D.

Harvard Business School, Boston, USA


Prof. Dr. Dr. h.c. mult. Hans-Werner Sinn

ifo Institut & Center for Economic Studies (CES), University of Munich, Germany

Dr. Pierin Vincenz

Raiffeisen Gruppe, St.Gallen, Switzerland





Simultaneous Translation German-English/English-German


1st Day of Conference: 27th October 2015


8:00 a.m. Registration

8:45 a.m. Opening remarks


Module 1: Prospects for the global economy, Europe and the capital markets


9:00 a.m. The Euro Trap – Development of world economy and the situation in Germany, Switzerland and Europe

  • Europe's tax payers were held liable for the investment risks in southern Europe
  • The financial markets have for now calmed down but the crisis of the real economy continues to smolder
  • The competitiveness of the southern countries has not yet significantly improved
  • What concrete measures can contribute to overcome the crisis?
  • Can debt cuts or temporary withdrawals still rescue the European unification project?
  • The current developments in the euro area entail far reaching changes for Switzerland

Prof. Dr. Dr. h.c. mult. Hans-Werner Sinn, ifo Institut & Center for Economic Studies (CES), University of Munich, Germany


10:00 a.m. Man proposes, market disposes?

  • The capital market's character of a public event and who benefits from it
  • For how long can investors rely on equities delivering return?
  • What opportunities arise through bonds?
  • What role plays currency for institutional investors in Switzerland?
  • Gold – the magic dwarf – rough or shiny?

Alfons Cortés, Unifinanz Trust, Vaduz, Liechtenstein


11:00 a.m. Coffee Break


Module 2: What opportunities do the emerging markets offer today?


11:30 a.m. The devil is in the detail: Emerging markets are not all alike

  • The success of an emerging markets investment crucially depends on the right combination of country and asset class
  • How susceptible to setbacks are the emerging markets and how do they respond?
  • Emerging markets versus other markets: favorable or not – how be recognized?
  • What effects does the stronger US dollar have and what does the decline in raw materials prices mean for the emerging markets?
  • What are currently interesting markets and what opportunities do they offer in the near future?

Prof. Peter Marber, Columbia University, New York, USA & Loomis Sayles & Company, Boston, USA


12:15 p.m. Lunch



What chances and risks do the emerging markets hold?

  • Asia, Eastern Europe, South America - what region does the future belong to?
  • How do the oil price and the US dollar influence the future development of the emerging markets?
  • Are emerging markets bonds a way out of the interest trap?
  • Do local currency bonds or hard currency bonds offer a better chance / risk ratio?
  • What are the three biggest risks for the emerging markets today?
  • What mistakes should investors avoid when investing into the emerging markets?

Lars Rømer Sørensen, Maj Invest, Kopenhagen, Denmark

Prof. Peter Marber, Columbia University, New York, USA & Loomis Sayles & Company, Boston, USA

Francesc Balcells, PIMCO, Munich, Germany


Module 3: Fresh approaches to investing


2:45 p.m. The future of capital investment and the complementary role of social network analysis

  • Social network analysis (SNA): A third pillar for analyzing investment opportunities
  • Why do co-investment clusters play a major role when selecting investments?
  • How can existing social links between supervisory boards and management boards influence the success of investment?
  • What role do business leaders' government connections play and what effects do they have in a financial crisis?
  • How can social network data and key figures be included into the investment process?

Dr. Murat Ünal, Sonean, Kronberg/Ts., Germany


3:30 p.m. Coffee Break


4:00 p.m. The Bifurcation of Investment Management: Beta versus Alpha

  • Why is the industry being pulled in these two opposite directions?
  • Can "smart beta" and alpha products co-exist?
  • How should one market these products to retail versus institutional clients?
  • The problem of cannibalization between alpha and beta
  • The future of fees in the asset management industry
  • What are some sources of "true" alpha?
  • Future directions in behavioral finance, network analysis, and unstructured data

Prof. Christopher J. Malloy, Ph.D., Harvard Business School, Boston, USA


5:00 p.m. Democratization of the alternative investment industry through risk premia investment

  • What are alternative risk premia and alternative beta strategies?
  • Taxonomy of alternative risk premia in practice
  • How can alternative beta be optimally used in the portfolio's context?
  • Future prospects and challenges of a new investment paradigm

Dr. Jochen Kleeberg, alpha portfolio advisors, Bad Soden/Ts., Germany


5:45 p.m. Looking for alpha potentials of success and sources of errors

  • Mixing luck and skill – numbers might be deceptive
  • How persistent are historical investment results?
  • Taking a closer look at active managers: Separation between style premia and pure alpha
  • Investment handling capacity: Collector of volumes vs. alpha manager
  • It is net performance that counts: What are the economic drivers for management fees?
  • The three no-goes: Sighthound races, overconfidence, impatience

Dr. Lars Jäger, GAM, Zurich, Switzerland


6:30 p.m. Cocktail Reception

7:30 p.m. Dinner



2nd Day of Conference: 28th October 2015


8:00 a.m. Registration

8:55 a.m. Opening remarks


Module 4: Switzerland's future as a financial center: An outlook on the asset management industry


9:00 Uhr Success Factors for the Swiss Financial Center

  • What challenges and opportunities does the Swiss financial center face?
  • The Swiss financial center in international competition
  • How could or should bankers and asset managers position themselves in such a demanding environment?
  • Factors of success for managing transformation
  • What measures should be taken by politicians and the SNB?

Dr. Pierin Vincenz, Raiffeisen Gruppe, St.Gallen, Switzerland


10:00 a.m. The future of asset management in Switzerland

  • Where in future will value added take place in asset management?
  • Asset management vs. wealth management – What is the asset manager's future role?
  • Switzerland: A location for asset management?
  • What development opportunities do the current regulatory and fiscal framework conditions offer?
  • What could concrete steps to strengthen the financial center look like from the point of view of the Swiss fund and asset management industries?

Markus Fuchs, Swiss Funds & Asset Management Association SFAMA, Basel, Switzerland


10:45 a.m. Coffee Break


Module 5: Suggestion for asset allocation in uncertain times


11:15 a.m. Key Investment Themes in an Over-saving World and the Outlook for 2016

  • Key problems facing the world economy for 2016
  • New challenges for policymakers
  • Implications for the Asset Allocation Strategy
  • A secular outlook for emerging vs. developed markets equities, bonds and currencies

Chen Zhao, Brandywine Global, Philadelphia, USA


12:00 p.m. Strategic allocation without blinkers

  • The illusion of precision or lack of sense in optimization
  • Choice of modules: Investment categories or risk classes?
  • The way to a robust and viable strategy
  • Regulation and herd mentality

Dr. Rolf W. Banz, Geneva, Switzerland


12:45 p.m. Lunch


Module 6: New challenges for institutional investors and asset managers


2:15 p.m. Switzerland and euro area: How much longer will the zero rate environment persist?

  • What are the impacts of the ECB's purchases of bonds?
  • How much longer will France and Italy reject reforms?
  • If at all, can the ECB free itself from political pressure?
  • To what extent do higher US rates manifest in Europe?
  • Does the real estate market derail the SNB?

Dr. Jörg Krämer, Commerzbank, Frankfurt am Main, Germany


3:00 p.m. Game with new rules –Asset management in purpose economy

  • What are the conditions/parameters by which (entrepreneurial) success is measured in different economic eras?
  • Why does 'common sense' become an ever important production factor, specifically in the financial industry?
  • What changes will asset management organizations face in the future?
  • Who will be the new players in future financial industry and why?
  • What are the characteristics of meaningful financial institutions?

Prof. Dr. Bernd Ankenbrand, University of Applied Sciences Wurzburg, Germany



How do investors cope with permanently low interest rates?

  • What are currently the three biggest risks for capital investments?
  • How does the future of the Swiss franc look like and what are the consequences for investors?
  • What is the impact of a permanent low interest environment on investors in Switzerland?
  • Are alternative investments the right answer to low interest rates?
  • How far does the regulatory framework restrict the management scope?
  • Which investment opportunities do currently offer the most attractive risk/reward ratio?

Walter Friedlein, Kanton St.Gallen, Schweiz

Dr. Oliver Grimm, City of Zurich Pension Fund, Switzerland

Michka Kovats, Parly Company, Geneve, Switzerland


4:45 p.m. End of the conference


Target Group


Managing Directors and Senior Executives from

  • Institutional investors as Corporates, insurance companies, pension institutions or foundations in the fields of asset management, treasury, finance and financial risk controlling;
  • Banks and Asset Management Companies in the fields of treasury, portfolio management, institutional asset management, research, investment controlling, marketing, sales and trading desk;
  • Investment consultants and other specialized service providers with a focus on (institutional) asset management

Venue and Hotels



Zurich Marriott Hotel

Neumuhlequai 42 in 8006 Zurich, Switzerland

Phone +41 44 36 07 230



A limited number of rooms has been allocated at the hotels listed below. Please reserve directly with your desired hotel, making reference to this conference (keyword: Annual Conference on Professional Investment).



Zurich Marriott Hotel

Neumuhlequai 42

8006 Zurich

Phone +41 44 36 07 230

Fax +41 44 360 77 78



CHF 350,- (plus CHF 2,50 City Tax) single room incl. breakfast



Sorell Hotel Rex

Weinbergstraße 92

8006 Zurich


Phone +41 44 36 02 525

Fax +41 44 36 02 552


CHF 150,- (plus CHF 2,50 City-Tax) single room incl. breakfast



The Central Plaza Hotel

Central 1

8001 Zurich

Phone +41 44 25 65 656

Fax +41 44 25 65 657


CHF 306,50 (plus CHF 2,50 City-Tax) single room incl. breakfast



Please note: The attendance fee does NOT include accommodation costs.





Mrs. Kerstin Straube

Event ManagementKerstin Straube Uhlenbruch

Phone +49 6196 76 45 90

Fax +49 6196 76 45 959



Uhlenbruch Verlag GmbH

Wiesbadener Weg 2a

65812 Bad Soden am Taunus



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