Speakers and topics
AVI: quality assets, discounted valuations and corporate catalysts
AVI Global
AVI's specialised and differentiated approach to investing, focusing on misunderstood and under-researched companies, with catalysts to unlock and drive value, is increasingly relevant in a complex backdrop for equity markets. Joe will discuss where he is finding inefficiencies across global markets and where the best opportunities exist.
Surprise! If you could predict anything in equity markets it should be earnings surprise
AXA WF Sustainable Equity QI
Warren Buffett famously said, "in the short run the stock market is a voting machine but in the long run it is a weighing machine" What gets weighed are fundamentals, specifically earnings. Brokers hire an army of analysts to publish detailed analysis of corporate earnings forecasts, with these individual forecasts combined to create consensus estimates on what a company is expected to earn in the future. It’s right to focus on earnings, but it is the surprise in earnings that is truly paramount – the amount by which a company beats or disappoints relative to expectations. Gideon will show how earnings surprise relates to factor investing and what it means for investors in the current economic climate.
The outlook for global credit markets: cautious or bullish?
Federated Hermes Unconstrained Credit Fund
The sell off in global fixed income markets in 2022 was universal, with government bond markets, investment grade and high yield markets selling off in tandem. A global slow down has put pressure on spreads and central banks fire fighting inflation has driven bond yields higher. It was a punishing year for fixed income markets, but with a new cycle ahead and many investors playing the government bond trade, where does this leave credit markets? The Federated Hermes Unconstrained Credit Fund aims to use a highly dynamic risk budget and investment universe to capitalise on the market opportunity, both in terms of fixed income beta and credit selection. Fraser will reflect on the year so far and discuss where he can see value in the months ahead.
Cashflow is king
Fiera Atlas Global Companies Fund
Fiera’s Atlas Global Companies fund is a Benchmark-agnostic, high active weight strategy that invests in 25-35 Companies that Fiera deems ‘exceptional’. Exceptional companies can consistently deliver above average and more stable cashflow growth for a long time and we think they are rare. Neil will talk through the four pillars of the wealth creation process to show how the firm unearths these rare investment opportunities.