Morningstar Investment Conference 2011 Speaker Biographies

Transcription

1 Justin Abercrombie Head of QEP Global Equities, Schroders Justin Abercrombie joined Schroders in 1996 and was a founding member of the QEP and has the led the development of the team product range. Justin is the lead fund manager on all the team global equity strategies. Justin has over 19 years investment experience and prior to joining Schroders he developed currency, bond and equity strategies at quantitative fund manager Pareto Partners. He holds a Degree in Business Economics from the University of Reading and an MSc in Econometrics. Geoff Balzano Chief Executive Officer, Morningstar UK Geoff Balzano is chief executive officer of Morningstar in the United Kingdom, where he is responsible for strategy and operations for all of Morningstar s business lines in the UK market. Geoff was previously vice president of enterprise solutions for Morningstar s Adviser business, where he was responsible for strategy, development, and product marketing for all enterprise software products including the Adviser Workstation Enterprise Edition, a Web-based investment planning platform that integrates asset allocation, portfolio analysis and monitoring, investment research, and investment planning for financial advisers. Before joining Morningstar in 2001, Geoff worked for Accenture in the technology solutions development area. He also has considerable online product management experience. Geoff holds a bachelor s degree in history and Asian studies from Indiana University and a master s degree in business administration with a concentration in finance and marketing from the University of Chicago Graduate School of Business. Robin Batchelor Managing Director, Joint CIO, Natural Resources Equity Team, BlackRock Managing Director and portfolio manager, is the joint Chief Investment Officer of the Natural Resources Equity team within BlackRock s EMEA Fundamental Equity Portfolio Management Group. He is responsible for the management of the BGF World Energy and BGF New Energy Funds, and BlackRock New Energy Investment Trust plc. He is also co-manager of BlackRock s Natural Resources Hedge Fund and other segregated mandates. Mr. Batchelor joined the Natural Resources team in London in 1996 and worked on the Gold and Mining Funds through Mr. Batchelor subsequently developed the energy capability within the Natural Resources team and began managing dedicated energy funds in January The London based Energy team is responsible for both traditional oil and gas investment funds as well as alternative energy portfolios. Mr. Batchelor earned BSc degrees, with honours, in applied geology from Colorado State University and Glasgow University in 1995 and an MSc degree in investment analysis from Stirling University in

2 Clive Beagles Senior Fund Manager, JO Hambro Capital Management Clive Beagles co-manages the JOHCM UK Equity Income Fund alongside James Lowen and is one of the UK s most highly respected equity income managers. Prior to joining JOHCM, Clive worked at Newton Investment Management as Investment Leader, UK Equities and managed the successful Newton Higher Income Fund for three years. Clive holds a BA in Economics and is an associate member of the Institute of Investment Management and Research. Jasper Berens Head of UK Sales, Managing Director, JP Morgan Asset Management Jasper Berens joined J.P. Morgan Asset Management in 1997 as a Sales Executive. In 2005, he became Head of UK Sales. He has responsibility for the Retail Intermediary division. Jasper is a member of the J.P. Morgan European Country Heads Management Committee, and the UK Product Development Committee. He is also member of the IMA s Training and Competence Committee. Jasper joined J.P. Morgan from Guinness Flight and Hambros where he was spent 5 years in Fund Sales. Jasper is an IMC holder. Edward Bonham-Carter Group Chief Executive Jupiter Fund Management Edward Bonham Carter joined Jupiter in He is Jupiter Fund Management PLC s Group Chief Executive and, until February 2010, was also Chief Investment Officer. Edward started his career in the early 1980s at Schroder Investment Management analysing UK and US equities. In 1986, he joined Electra Investment where he successfully managed quoted portfolio accounting for some 30% of the trust s assets. In 1994 he joined Jupiter with a brief to manage high performance funds invested in the UK stock market. Edward gained a degree in Economics and Politics from Manchester University. 2

3 Scott Burns Director of ETF, Closed End Fund and Alternative Fund Research, Morningstar Inc. Scott Burns is director of exchange-traded, closed-end, and alternative fund research for Morningstar, responsible for managing Morningstar s global research efforts for these investment vehicles. In this role, he leads a team of analysts that cover more than 500 ETFs, 50 closed-end funds, and 40 alternative mutual funds and provide extensive commentary to individual investors, advisors, and institutions. He is also publisher of Alternative Investments Observer, a quarterly newsletter. Burns has more than 13 years of experience in securities analysis. Prior to joining the ETF team, Burns was an associate director for the equity research staff, where he was in charge of training and methodology development. In his time on the equity research team, Burns was also as a senior equity analyst and team leader, covering the steel and aluminum industries. Before joining Morningstar in April 2004, he spent a year teaching corporate finance and cash-flow modeling for Bank One. Prior to that, Burns spent four years as an analyst and later as an associate with the Banc of America Securities Leveraged Finance group. Burns holds a bachelor s degree in finance from the University of Illinois and a master s degree in business administration from the University of Chicago Booth School of Business. In July 2009, Burns was named to ETF Database s ETF Hall of Fame. Richard Buxton Head of UK Equities, Schroder Richard is Schroders Head of UK Equities and has 25 years of investment experience. Richard joined Schroders in 2001 and is currently the fund manager of the Schroder UK Alpha Plus Fund and Schroder UK Growth Fund plc. Richard was UK equity manager at Baring Asset Management from 1990 following one year at GRE Asset Management. His investment career commenced in 1985 at Brown Shipley Asset Management as a fixed income and equity investment manager. He holds a degree in English Language and Literature from Oxford University. Bryan Collings Managing Partner, HEXAM Capital Partners; Lead Manager of Ignis International HEXAM Global Emerging Markets Fund Bryan Collings is a highly experienced and well-respected fund manager who specialises in emerging markets equities. A British citizen who lived in emerging markets for 30 years, Bryan has over 18 yearsinvestment experience in this asset class. During his career, Bryan has headed up a number of successful emergingmarkets teams, repeatedly proving himself to be one of the best fundmanagers in the emerging markets asset class. He worked at companies including Baring Asset Management, Deutsche Asset Management and Invesco before setting up the HEXAM emerging markets boutique in Bryan holds a Master of Science in Economics from the University of Stellenbosch (South Africa) and received his Chartered Financial Analystqualification in He has lectured on emerging markets and fund management for more than a decade, including to postgraduates at George Washington University in the USA, and has won numerous public speaking awards. He is a regular commentator in the national press in the UK and is the author of a book on emerging markets Misunderestimated, published in Bryan is the lead manager of the award-winning Ignis International HEXAM Global Emerging Markets Fund and Managing Partner of HEXAM Capital LLP. 3

4 Stewart Cowley Head of Fixed Income, Old Mutual Asset Management Stewart Cowley joined OMAM in June 2009 from Newton Investment Management where he was Head of Fixed Income and manager of the S&P AAA-rated Newton International Bond and BNY Mellon Global Bond funds ( ). Prior to this he was Joint Chief Investment Officer and Head of Global Fixed Interest at Hill Samuel Asset Management ( ), having previously been Head of Global Fixed Interest at Invesco Asset Management ( ). He began his career at Donaldson, Lufkin & Jenrette in 1987 as a fixed income sales trader, before switching to fund management. Stewart has a BSc in Physics from Manchester University (1982) and a DPhil in Physics from Oxford University (1987), and is a Member of the Securities Institute. Trevor Greetham Portfolio Manager and Asset Allocation Director, Investment Solutions Group Trevor Greetham is Portfolio Manager and Asset Allocation Director within the Investment Solutions Group at Fidelity Investment Managers (FIL). Based at FIL s London headquarters, Mr Greetham has been responsible for FIL s asset allocation process since 2006 and in November of that year he also took over management of Fidelity s Multi Asset Strategic fund. clients on international cross-asset investment strategy. Between 1992 and 1995 Mr. Greetham was Assistant Fund Manager for Asset Allocation UK Equities at Provident Mutual where he started his career as a trainee actuary in Mr. Greetham has a total of 18 years investment experience. Born in 1968, Mr. Greetham gained an MA degree in mathematics at Cambridge University; he is also a qualified actuary. Prior to joining Fidelity in 2006 Mr. Greetham was Director of Asset Allocation for Merrill Lynch where he advised their 4

5 Paul D. Kaplan, Ph.D., CFA Quantitative Research Director, Morningstar Europe Dr. Paul D. Kaplan is Quantitative Research Director at Morningstar Europe and responsible for the quantitative methodologies behind Morningstar s fund analysis, indexes, advisor tools, and other services. Dr. Kaplan conducts research on style analysis, performance and risk measurement, asset allocation, retirement income planning, portfolio construction, index methodologies, and alternative investments. He led the development of quantitative methodologies behind the Morningstar RatingTM for funds, the Morningstar Style BoxTM, and the Morningstar family of indexes. He has served as chief investment officer of Morningstar Associates, LLC, a registered investment advisor and wholly owned subsidiary of Morningstar, Inc., where he developed and managed the investment methodology for Morningstar s retirement planning and advice services. Many of Dr. Kaplan s research papers have been published in professional books and publications such as the Financial Analysts Journal, the Journal of Portfolio Management, the Journal of Wealth Management, the Journal of Investing, the Journal of Performance Measurement, the Journal of Indexes, and the Handbook of Equity Style Management. He was a Graham and Dodd Award winner in 2000 and Dr. Kaplan has made numerous presentations on fund analysis, asset allocation, portfolio management, equity indexes, and related topics at professional conferences, meetings of professional organizations, and professional education programs. He has been quoted in several major business publications. Before joining Morningstar in 1999, he was a vice president of Ibbotson Associates and served as the firm s chief economist and director of research (Morningstar acquired Ibbotson in March 2006.) Prior to that, he served on the economics faculty of Northwestern University where he taught international finance and statistics. In July 2010 Dr. Kaplan will relocate to London to bring the thought leadership that he has exhibited over his 21 years at Ibbotson and Morningstar to a European audience. Jim Leaviss joined M&G in He is a fund manager and head of retail fixed interest. After graduating in 1992, Jim joined the Bank of England as an analyst of monetary statistics and PSBR. He later moved within the Bank to become a gilt and money market trader, a position he occupied for three years. Jim graduated from Manchester University with a BA in economics. He is a member of UKSIP. Jim Leaviss Head of Retail Fixed Interest, M&G Ingestments Crispin Odey Chief Investment Officer, Insynergy Investment Management Crispin Odey left Barings to continue his focus on active fund management by establishing his own company in Odey Asset Management was originally hedge fund focused, running long-only assets from Today the company is one of Europe s most respected investment houses. Prior to founding Odey, Crispin managed the European Growth Trust at Baring Asset Management and the Continental European pension fund at Framlington Fund Managers. He graduated from Christ Church, Oxford in 1980 where he read history & economics. Crispin Odey has a reputation as a high quality and high conviction fund manager, with a long term proven performance track record. However, because of his firm s primary focus on the institutional and very wealthy client sectors, he is less well known in the broader private investor marketplace. This piece seeks to provide some background on Crispin s philosophy and process in his management of the recentlylaunched INSYNERGY Odey Fund which is only available via AXA Winterthur. 5

6 James Rigg Director, Fund Manager, Threadneele Property Investments James Rigg joined Threadneedle in January 1995 as a Director. He manages the Theadneedle Pensions Property Fund and the Zurich Assurance Ltd AL Property Fund. He started his career in 1990 working for Jones Lang Wootton as a Chartered Surveyor and then moved to Nikko Securities in 1994 as a stockbroker. James graduated from Exeter University with a BA (Hons) in Philosophy and also received a postgraduate diploma in Estate Management from Southbank University. James is also an associate member of the Royal Institution of Chartered Surveyors. Ben Rogoff Fund Manager, Polar Capital Partners Ben Rogoff has been a technology specialist for twelve years having begun his career in fund management at CMI as a global tech analyst. He moved to Aberdeen Fund Managers in 1998 where he spent four years as a senior technology manager prior to joining Polar Capital in May He is lead manager of Polar Capital Technology Trust plc, with responsibility for the management of Polar Capital s US technology portfolios. He is also joint manager of Polar Capital Global Technology Fund. Ben graduated from St Catherine s College, Oxford in Richard Romer-Lee Investment Director, OBSR, a Morningstar Company Richard Romer-Lee is a co-founder of OBSR and has overall responsibility for investment research and consultancy services. He has over 20 years of industry experience and has been involved in investment manager appraisal and selection since Richard and his team believe passionately in independent indepth research with a view to understanding what a manager is trying to achieve and whether a fund is likely to meet its objectives over the longer term. He believes this can only be achieved through ongoing rigorous qualitative research. Richard and his colleagues have developed and maintained a thorough knowledge of funds and the fund management industry. They use this as their intellectual capital in helping advisers and distributors with guided architecture and investment committee advice for those wishing to offer robust investment propositions to investors. Richard is regularly called upon to write articles and chair functions in an independent capacity as one of the industry s foremost commentators. 6

7 Dr. Sam Savage, Ph.D. Chairman of Vector Economics Inc.; Consulting Professor, Stanford University; Fellow, Cambridge University Judge Business School Dr. Sam Savage, is an author, Consulting Professor of Management Science and Engineering at Stanford University, and Fellow of the Judge Business School at the University of Cambridge. He holds a PhD in the area of computational complexity from Yale University. In 2008, in collaboration with Oracle Corp. SAS Institute, and Frontline Systems, he led the development the DIST(tm) Distribution String, an open standard for describing probability distributions, which encapsulates thousands of Monte Carlo trials into a single data element. This technology is being applied at Royal Dutch Shell, Merck & Co., and Morningstar. His book, The Flaw of Averages: Why We Underestimate Risk in the Face of Uncertainty, has recently been published by John Wiley & Sons. It describes the systematic errors we make in the face of uncertainty, and explores significant new technologies for illuminating and manage risk. Harry Markowitz, Nobel Laureate in Economics has said: Enterprise analysis under uncertainty has long been an academic ideal.... In this profound and entertaining book, Professor Savage shows how to make all this practical, practicable, and comprehensible. Gary Shaughnessy Managing Director, UK Contribution and Retail, Fidelity Investment Managers Gary Shaughnessy is Managing Director, UK Defined Contribution and Retail at Fidelity Investment Managers (FIL). Gary joined Fidelity in November 2008; his responsibilities include distribution across wholesale, banking, IFA and direct channels as well as Funds Network and defined contribution. Gary has over 20 years experience in the financial services industry in roles spanning the general insurance, life and pensions, personal finance and investment marketplace. With a marketing and distribution background, Gary worked in the late 1980 s for the Bank of Scotland in the affinity marketplace building their personal finance business. From here he moved to the Automobile Association, working first across the motor, home and health insurance businesses and ultimately being the General Manager, Marketing for their Financial Services business. From here he moved to AXA with responsibility for developing the Brand in the UK and launching the FA Cup sponsorship. In 1999 he moved to the Prudential Group where he became Chief Executive of M&G s retail business and subsequently Managing Director of Prudential s Retail Life and Pensions business in the UK and Europe. During his time in the Industry, Gary has helped drive the development of the medium and long term savings market as a whole including Chairing the IMA s Retail Investment Committee in 2005/6 and being a member of the ABI s Life and Pensions Board in 2007/8. Rob Stevenson Director, Kingmakers Group Rob Stevenson is a strategy and M&A consultant, who specialises in the IFA channel. After a 16 year career in the financial services industry, with roles spanning life and pensions and IFA markets, Rob established his own consulting firm Kingmakers in With over 30 M&A transactions and countless joint ventures and commercial partnership arrangements undertaken, he possesses unparalleled insight into the realities of starting, growing and selling businesses in the IFA channel. A frequent contributor to a wide variety of media, Rob is always happy to share his knowledge and experience. A member of the Institute of Business Consulting, Rob has used his depth and breadth of experience, coupled with a no nonsense approach to business, to build an enviable reputation across the IFA market. He has worked with many of the most successful, growth orientated IFA firms and acts as a board adviser to a diverse cross-section of businesses in this space. 7

8 Mike Taggart Closed-End Fund Strategist, Morningstar Inc. Mike Taggart, CFA is the closed-end fund strategist for Morningstar. In this role, he is responsible for Morningstar s coverage of the closed-end fund universe, providing analysis and commentary to advisors, individuals, and institutions. Taggart has more than 13 years of financial industry experience. Before assuming this position, Taggart was a senior equity analyst, providing research on consumer goods and retail companies. In his time on the equity research team, Taggart also had covered capital markets and IT services firms. Before joining Morningstar in the summer of 2003, he worked in institutional equity sales and pursued a doctorate degree in Russian history. Taggart holds a bachelor s degree in history from Virginia Tech University, a master s degree in Russian history from the University of Illinois at Chicago, and a master s degree in business administration from Northwestern University s Kellogg School of Management. He earned his Chartered Financial Analyst (CFA) designation in Mark Tennant Chairman, Honister Capital Senior Advisor, JP Morgan Asset Management Mark is currently a senior adviser to J.P. Morgan and a member of the Advisory Board of T Rowe Price Global Investor Services. He is chairman of the management consultancy, Bluerock, Chairman of Honister Capital, UK s second largest IFA, Chairman of Foreign and Colonial Private Equity Trust and in August 2009 he was elected chairman of Scottish Financial Enterprise, the industry s trade body in Scotland. He is also a member of the Advisory Board of City UK and Deputy Chairman of The Financial Services Advisory Board which advises The Scottish Government on the financial services industry. Prior to this he spent 13 years with Chase Manhattan Bank (latterly J.P. Morgan), opening the Edinburgh office of Chase in 1991 and then moving to America as Head of Strategy and Finance for the custody division. In 1996 he returned to London where until September 2004 he was Head of Strategic Planning for Europe and Asia and ran some of the major relationships for J.P. Morgan Investor Services From he was a Director of Hill Samuel. In this role, he served as Chairman of Hill Samuel Private Clients Ltd, Hill Samuel Unit Trusts Managers Ltd and Bell Lawrie White & Co Ltd. From he was Marketing Director of Fidelity s ERISA operations and Managing Director of UK Pension Funds. Prior to joining Fidelity, he spent ten years with Hambros Bank, the last three as Managing Director of their Far East operation based in Hong Kong. He served for seven years in the Scots Guards, and his other activities have included Youth Leadership Officer for the UK for St John Ambulance Brigade. He has been a district councillor, a parliamentary candidate fighting Gordon Brown in 1992 and a candidate for the European Constituency of The Highlands and Islands. In 2006 he was elected to be a Fellow of The Royal Society for the Advancement of The Arts Industry and Science Before going to America, he was Non-Executive Director of Quality Street Ltd and Scotland International Ltd. His interests include field sports and playing the bagpipes. He runs a large historic house in Scotland where he caters for commercial weddings and also runs a dairy herd of 270 milking cows. He is also a Trustee of The Royal Hospital Chelsea and an Officer in The Royal Company of Archers, The Queens Bodyguard in Scotland. 8

9 John Thompson Vice President and Portfolio Manager, Ibbotson Associates John Thompson, Vice President, is the Director of Global Investment Services for Ibbotson Associates in addition to serving as the Portfolio Manager. He manages asset allocation portfolios for banks, mutual fund, insurance and money management companies. He works with clients to design risk tolerance questionnaires, determine model portfolios, analyze investment style consistency and recommend changes in client products and services. He also serves on Ibbotson s Investment Policy Committee, which oversees the investment strategies of over $50 billion in assets under management. Active in research, Mr. Thompson s work has appeared in Financial Planning, International Political Economy and World Trade Magazine. John Thompson is also a frequent speaker at industry and client conferences. He lectures on asset allocation and alternative investments. Prior to Ibbotson, Mr. Thompson worked as an international political risk analyst, specializing in South American markets at Marvin Zonis & Associates. Prior to MZ+A, he developed and underwrote property and casualty insurance policies for the real estate industry at Aon Corporation. Mr. Thompson received his Bachelor of Arts degree in History from Truman State University. Fluent in Spanish, as a Fulbright and Rotary Scholar, he conducted post-graduate research projects in Montevideo, Uruguay and Buenos Aires, Argentina. He earned the Master of Arts in Latin American Studies and Master of Business Administration in Finance and International Business from the University of Chicago. Nigel joined OBSR in 2007, as executive board director. In October 2010 he became Joint Managing Director of OBSR with Richard Romer-Lee. He has a broad base of experience in life companies and fund management. He brings with him a wealth of knowledge gained from setting up and running the multi manager businesses at both Insight and Edinburgh Fund Managers, where he was Sales and Marketing Director. Nigel Whittingham Joint Managing Director, OBSR, a Morningstar Company 9