HUBBIS INVESTMENT FORUM - Singapore 2023
The Glasshouse, Andaz Hotel，Singapore
Hubbis is delighted to have successfully hosted the Hubbis Investment Forum in Singapore for 2023 recently.
Discussions offered an in-depth look at the wealth management investment market, to understand more about how the mass affluent, HNW and UHNW clients are assembling their domestic, regional and global investment portfolios, and how the wealth management community is delivering its products and optimising advice, as well as how Singapore itself is positioning itself as a major global wealth management centre.
We are hugely grateful to the record 350 attendees who joined us for the forum, who helped create an enthusiastic and energetic learning environment.
Many thanks to our Sponsors for the Forum – GAM Investments, Janus Henderson Investors, AQUIS Capital, Axonic Insurance Solutions, GoUpscale, Lombard Odier, MFEXbyEuroclear, Mikro Kapital, United River Capital, Henley & Partners, J. Rotbart & Co., MSCI, Marex Financial Products, Wealtra, and Leverage Shares.
CLICK HERE to view the photos taken at this forum.
Or, you may wish to CLICK HERE to view the Full Agenda for the Forum.
And a huge thanks to our Enlightening Speakers, whose details can be found HERE.
Be sure to save the date of the 2024 Hubbis Investment Forum in Singapore, which takes place on Wednesday 6th November. CLICK HERE to view the homepage for this event, which also houses the registration link for the event.
We eagerly await the 2024 Singapore Investment Forum. But for now, enjoy the output of the 2023 forum below.
Panel Discussions from this Forum On Demand
At the recent Hubbis Investment Forum in Singapore, a panel of experts delved into the evolving role of Singapore in the regional and global wealth management landscape. The discussion explored various facets, including opportunities for growth in the sector and the regulatory and compliance challenges faced by professionals. Key trends shaping the industry over the next decade were also a major focus, with particular emphasis on the diversity and safety of custody, and how these are influenced by client expectations and industry shifts. The panel also addressed the impact of major events like the downfall of Credit Suisse and SVB, probing into the current perceptions of safe havens for client investments. Additionally, they discussed enhancements in processes and platforms to better serve clients, and the balance between offering advice and supporting clients who prefer to manage their investments independently.
The panel was chaired by Rossen Djounov, Managing Director, Head of Asia for GAM Investments, and featured Vincent Magnenat, Limited Partner, Global Head of Strategic Alliances, Asia Regional Head, Lombard Odier; Harmen Overdijk, Chief Investment Officer, Leo Wealth; and Arjan de Boer, Head of Markets, Investments & Structuring, Asia, Indosuez Wealth Management.
The second panel at the Hubbis Investment Forum in Singapore, a panel of financial experts gathered to dissect the opportunities and challenges anticipated for the coming year. The discussion centered around risk management strategies and the possibility of embracing greater risk in current market conditions. Panelists shared their preferences in asset classes and offered insights into the world of alternative investments, including private markets. The conversation also turned to the outlook for interest rates in the U.S. and Europe, with a focus on how clients should adapt to these changes. Debates around the existence of an equity bubble and the identification of valuable investment opportunities were key highlights. In the realm of fixed income and credit markets, the panelists pondered whether private clients should opt for higher quality asset classes or venture down the credit spectrum to potentially yield higher income in the current market. Finally, the discussion addressed the need for investors to adjust their strategic allocations in response to the current macroeconomic backdrop, with an emphasis on identifying assets and strategies that could offer effective portfolio diversification.
This panel was chaired by Rossen Djounov, Managing Director, Head of Asia, GAM Investments, and featured George Boubouras, Executive Director and Head of Research, K2 Asset Management; Shrikant Bhat, CEO, Investments Linked & Pension Business, AIA; and Steve Brice, Chief Investment Officer, Standard Chartered Private Bank.
The third panel at the Hubbis Investment Forum in Singapore, a panel discussion explored the dynamics of client engagement in the post-pandemic era, examining its evolution and future direction. The panelists debated whether digital advancements could entirely replace the 'human touch' in client interactions. A significant focus was on the delivery of advice while ensuring scalability, and enhancing 'portfolio solutions' for clients. They also discussed the role of digital tools in fostering thematic engagements with clients, and how Chief Investment Officers (CIOs) can utilize these tools to source best-in-class products. The conversation touched on risk oversight, particularly ensuring risk and Environmental, Social, and Governance (ESG) suitability across advisors and clients. Sales enablement strategies, including the assessment of current portfolios and the introduction of new solutions, were also covered. The discussion then moved to client retention strategies, emphasizing the use of value-added insights. The panelists explored how digital technologies could aid private wealth management firms in better engaging with their clients. Lastly, they discussed ways to make advice more curated, relevant, informative, tailored, and engaging to meet clients' evolving needs.
The discussion was chaired by Dominic Gamble, CEO and Founder of GoUpscale, and featured Eddy Loh, CIO, Group Wealth Management, Maybank; John Ng, Head of Funds, DBS Bank; Gareth Nicholson, Chief Investment Officer and Head of Discretionary Portfolio Management, International Wealth Management, Nomura; and Juan Aronna, Head, Investment Solutions and Products, RBC Wealth Management Asia, RBC Wealth Management.
The fourth panel at the Hubbis Investment Forum in Singapore focused on the progression of the independent wealth movement, delving into the evolving needs of clients and why they opt for External Asset Managers (EAMs) or Multi-Family Offices (MFOs). The discussion highlighted the changing business models relevant to this segment and how single-family offices or ultra-high net worth clients select the right multi-family office. Panellists contrasted their wealth management propositions with those of private banks, emphasizing the necessity of a client-first advisory approach. The conversation then shifted to explaining the unique value propositions of their services. A key question addressed was the need for an investment adviser or Chief Investment Officer (CIO) in running a successful boutique independent wealth management firm. The panel also explored sources for the best inputs when advising clients and the partnerships that contribute to success, including platforms, investments, technology, and professional services. Finally, the discussion covered strategies for building a positive company culture and effective business growth.
Chaired by Michael Stanhope, Chief Executive Officer & Founder, Hubbis, the discussion featured Ashwin Patravali, Head - Private Wealth, Kristal.AI; Charlie O'Flaherty, Partner, Finaport; and Shilpi Chowdhary, Chief Executive Officer, Managing Director, Lighthouse Canton.
The penultimate panel at the Hubbis Investment Forum in Singapore discussed Impact Investment, emphasizing its dual focus on financial returns and social impact. They highlighted its growth in Asia and Emerging Europe and its portfolio diversifying benefits. The panel clarified that impact investing, particularly effective in the environmental sector due to climate change, is distinct from philanthropy and can yield significant returns. The potential for family offices to de-risk their core business through impact investing was explored. The discussion also covered gaining exposure to high-yield opportunities in the 'real economy' and the importance of Sustainable Development Goals (SDGs) in investment strategies. Additionally, the panel examined how family offices and high-net-worth clients in Europe and Asia manage their impact investment allocations, including the role of microfinance investments and their non-correlation with equity markets. Lastly, they emphasized the importance of due diligence and impact measurement in these investments.
Chaired by George Boubouras, Executive Director and Head of Research, K2 Asset Management, the panel featured Diana Watson, Investment Manager, Tsao Family Office; Thomas Riber Knudsen, Director, ESG & Impact Investing, Rumah Group; Sylvie Khau, Managing Partner, Mastery Holdings; and Michele Mattioda, Director, Mikro Kapital.
The final panel at the 2023 Hubbis Investment Forum in Singapore looked at improving the client experience in wealth management in regard to the strategies employed around content produced by this industry. They examined client expectations and the effectiveness of current methods in providing essential information, questioning the engagement level of clients with research and product factsheets. The discussion included ways to make content more appealing, relevant, and engaging. Panelists also talked about aligning content delivery with sales objectives and integrating it into existing technology. They addressed the challenge of identifying content that resonates with clients and how to adapt and improve these strategies. Additionally, the panel explored overcoming compliance challenges and the potential benefits of AI technology in enhancing content delivery and client engagement.
Chaired by Michael Stanhope, Chief Executive Officer & Founder, Hubbis, the discussion featured Dominic Gamble, CEO and Founder, GoUpscale; Rossen Djounov, Managing Director, Head of Asia, GAM Investments; Harmen Overdijk, Chief Investment Officer, Leo Wealth; and Philipp Piaz, Partner, Finaport.
View the write-ups of the Panel Discussions from this event
The rather unique and fascinating world of microfinance is a relatively new topic for a Hubbis live conference, but it is logical to cover this as part of the expanding universe of ESG and impact investing. Accordingly, the Singapore Investment Forum on November 1 included a detailed discussion amongst several experts on how to deliver the best of both worlds to micro-entrepreneurs and to private client investors in Asia. Sustainability is a key concern for many of the wealthier private clients, especially perhaps family offices that have the scale and are immune from the daily financial challenges. But perhaps their founders recall times when they were struggling financially and often want to give back to society in general when they are in such a privileged position of financial strength. This inclination towards philanthropy can, some might suggest, be neatly aligned with financial returns, thus satisfying both the investors and the end-recipients of the funding, in many cases micro-SMEs trying to run their own small businesses to keep themselves and their families afloat. The interest in such microfinance can therefore also address the concerns of the next and younger generations, many of whom have enjoyed the wealth of their parents or grandparents, and who want to find new avenues for social impact as well as financial returns. The concept of profitability aligned with philanthropy and social impact was therefore central to the discussion amongst specialists who know that mobilising private capital towards private endeavour is key to building communities and countries. That is the ‘why’ and the panel also discussed the ‘how’, casting their eye over strategic investment in microfinance and co-investments as well. They acknowledged that specific knowledge of markets, communities and the needs and tendencies of micro-entrepreneurs are all central to ensuring the right clients obtain the right funds and both parties are subject to the right structuring.
View the write-ups of the Presentations and Workshops from this event
Phil Gronniger, Client Portfolio Manager for the Balanced and Fixed Income Strategies at Janus Henderson Investors is on a mission to convert investors to what he believes is a strategy to obtain income while avoiding being over-reliant to short-term yields, and to diversify over the entire fixed-income universe. In the current environment of rates staying high for longer (but certainly not forever), he advocates the Janus Henderson Multi-Sector Income Fund for the professional wealth management community and their clients, as it offers relatively attractive levels of yields, enhanced by balancing exposures to traditional fixed income sector with allocations to Securitized assets, such as MBS (mostly Agency and also some non-Agency), AAA CLOs, CMBS, and high-quality ABS. Phil has been on a roadshow across Asia to promote the fund and in early November hosted a group of gatekeepers, CIOs and family office leaders in a private, bespoke Hubbis event in Singapore, following that up with a lively presentation and detailed slide show at the Hubbis Investment Management Forum.
Launched in 2008, Mikro Kapital is a Luxembourg-headquartered group focused on the use of microfinance techniques for investing in small businesses across emerging markets, with a particular focus on micro-SMEs along the ‘Silk Road’ countries of Central Asia and Europe, and with a view on growth in other regions over time. Michele Mattioda, member of board of Mikro Kapital, offered delegates at the Hubbis Singapore Investment Forum on November 1 some valuable insights into Mikro Kapital’s missions and how the wealth management community can participate in their journey along the Silk Road. He delivered a valuable introduction to their world of Impact Finance and Microfinance, exploring Mikro Kapital's unique approach to microfinance, enhancing the opportunities for developing markets with a unique procedure to manage the risk and control the full value chain end-to-end, without intermediaries. He explained why it is so rewarding to invest in local businesses across emerging regions, empowering and transforming micro-SMEs with micro-credits, micro-loans, and sharing economy solutions. Armed with an excellent slide show covering the firm, the platform and the market, Michele uncovered some of Mikro Kapital's resilient investment opportunities in real economy sectors, highlighting the remarkable Risk/Reward record and a historical NPL rate of below 1%, and zero borrower default since the start.
The core of the thesis articulated by Bruce Zhang, Portfolio Manager at CSOP Asset Management, in a presentation at the Hubbis Singapore Investment Forum, is that the government needs to do more to bolster confidence and oil the wheels of optimism, and has plenty of ammunition to do exactly that. He explained that China’s equity market has solid fundamentals, a solid earnings history and potential, and low valuations, all of which should act as the springboard for an upward revaluation if and when the right conditions arise. He expressed his confidence that the government and the private sector – which accounts for 60% of GDP and 80% of investment – and the consumer will all act more decisively to fuel China’s sluggish recovery, which is far slower to materialise post-lockdown than most China-watchers had anticipated. He argued that when the switch is flicked – and that should be in the near foreseeable future - the upward trajectory should be one that private investors will not want to miss out on. He noted that private investors had, even during these difficult times for China equities, been consistently adding money into Hong Kong-listed Chinese funds and ETFs in expectation of the tipping point when valuations start to rise again. And he explained why the key is confidence and consumer spending, especially as the multi-decade thrust of an export-led economy is shifting to more of a domestic model.
Minh Luong is Head of Research at VietNam Holding Asset Management and along with their team of roughly 12 specialists today, help drive the fundamentals behind the allocation strategy for the Lumen Vietnam UCITS Fund (LVF), which is ultimately managed by the Swiss-based AQUIS Capital. He offered delegates a detailed and engaging presentation at the recent Hubbis Investment Forum in Singapore on November 1, providing some insights into the LVF fund and detailing why he is such a strong believer in Vietnam. He explained that the country has been benefitting from the China Plus One Strategy, and that Vietnam is an excellent diversification for private portfolios, and outlined the multitude of advantages in the market’s favour.
Wendy Chen, Senior Investment Analyst at GAM Investments presented a fascinating Workshop at the Hubbis Singapore Investment Forum on November 1. She highlighted how nothing has really changed in the realm of US-China relations, which for decades have been challenging, but the constant throughout has been competition and, surprisingly, collaboration. But that is changing as countries and people appear ready to sacrifice growth and low-cost supply chains for safety and national security concerns, leading to a far more multipolar world. She explained how as a result, the US is in a trillion-dollar-plus transition cycle as AI gains sway and as technological innovation and manufacturing are re-shored amid geopolitical turbulence. She later analysed China in transition, wondering if, when, and how the rebound might happen to raise the market from its five-year valuation lows. On that point, she concluded that the Chinese government has massive financial firepower and the private sector is the key to growth resurgence and huge investment potential; both need to fire their big guns, but neither is doing so as yet. And she discussed the potential beneficiaries of these trends amidst the ongoing US-China rivalry and re-shoring, such as India, Vietnam, The Philippines, Mexico, and others. This is a review of her talk, which should be read in combination with the excellent and very detailed slide show she offered delegates.
Everyone wants a nice income when they retire. Many wealthy investors are lucky enough to enjoy those returns as surplus to their actual needs. Others really need the income to ensure they and their families have pleasant retirements and a comfortable future. New York-headquartered Axonic Financial Group is a specialist creator of tailored, guaranteed and often bespoke annuity products for mass affluent and HNW private investors as well as for institutions, both onshore in the US and offshore. Robert Painter, the New York-based Head of Product and Actuarial for Axonic Financial Group US, gave a lively presentation at the Hubbis Singapore Investment Forum to highlight how his firm is delivering such guaranteed income products to the wealth community in Asia, and for them to then promote to their private clients. With more-than-healthy returns available in products that will allow clients to sleep easily at night, it seems like a win-win. He set the scene in the US market and explained that the firm is making a push into Asia, where demand is historically modest but growing pace. Annuities have been around for decades, but after some four decades of falling interest rates, investor attention is especially being reignited as rates have surged since early 2022, and the ‘higher-for-longer’ scenario seems indeed to be playing out in the foreseeable future.
In his insightful presentation at the recent Hubbis Investment Forum in Singapore, Dominic Gamble, CEO and Founder of smart content engagement technology company GoUpscale, offered a compelling argument on the need to evolve the current landscape of content curation and dissemination in the wealth management industry. Citing eye-opening statistics on digital content trends and industry volume, Dominic highlighted the numerous inefficiencies rooted in the current content delivery methods, and the ways that generative AI-powered-offerings can offer a solution, driving better content engagement, management and distribution, and ultimately, activity amongst industry practitioners.
We look forward to welcoming you at our 2024 Hubbis Investment Forum in Singapore, which takes place on Wednesday 6th November next year! Be sure to secure your place at the 2024 Event by heading over to the forum homepage and registering TODAY!
Feel free to reach out to us at [email protected] to learn more about how you can play a pivotal role in shaping the private wealth management industry in Asia and the UAE in 2024.
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