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Fund Watch and Product Launches Investment Intelligence for the Fund Professional INVESTMENT EUROPE November 2019 ISSUE 106 Annual subscription 450 www.investmenteurope.net The seeker of open minds Selection by Sepiam’s Yohan Kadri-Caillaux Taking flight German investors seek aviation funds Pucks to algos Italy’s MDOTM on AI and quants Assessing impact RobecoSAM on growing reporting requirements Must do better Financial companies lag in Equileap gender equality report Over here PGIM’s Europe plans Travel diary Frankfurt, Zurich, Paris, Madrid EVENT REPORTS ELECTION • HELSINKI ROUNDTABLE EXPECTATIONS • INVEST WEEK PARIS Patricia Justo of A&G Banca Privada • PATRIMONIA LYON on US stocks in an election year • SPAINSIF MADRID Upcoming events: Zurich, Milan, Tel Aviv, London, Munich, Milan, Stockholm, Paris, Geneva To register your interest visit www.investmenteurope.net/events Milan, 22 NovemBER 2019 BENEFIT FROM THE KNOWLEDGE OF LEADING FUND MANAGERS InvestmentEurope is pleased to announce the Thematic Forum Milan 2019, taking place on 22nd November at the Four Seasons Hotel. This exclusive event provides the opportunity for 35 key fund selectors to evaluate the investment opportunities presented and to benefit from the knowledge of leading fund managers. Up to five leading asset management companies will present EVENT INFORMATION their strategies to top investment professionals in the region. DATE: 22 November 2019 TIME: 08:20-14:30 Complimentary attendance for professional LOCATION: Four Seasons investors involved in fund selection. Hotel, Milan To register your interest in attending this exclusive event please contact Luisa de Vita: [email protected] or +44 (0)203 727 9932 For further information visit the event website: inves tmenteurope.net/events Sponsored by: Educational partner: Carbon Offset Partner: Brought to you by: Sustainability partner: 1 November 2019 CONTENTS COVER STORY REGULARS 10 Election expectations 2 Leader Milan, Great expectations COUNTRY FOCUS 29 Diversity Why do English-speaking countries 16 Italy AI-driven subadvisor dominate Equileap’s global rankings? 22 NovemBER 2019 MDOTM eyes international 30 Business development expansion PGIM’s European developments and 18 Germany Investors look their importance to its global expansion 37 SharingAlpha BENEFIT FROM THE KNOWLEDGE for stable cash flows from 10 Patricia Justo A more robust approach to ratings aviation leasing 38 Data OF LEADING FUND MANAGERS Switzerland and the World 50 SECTORS 40 Review The Frieze Art Fair, London 28 ESG RobecoSAM’s Rainer Baumann explains why COMMUNITY InvestmentEurope is pleased to announce the Thematic investors are increasingly interested in the impact of 4 Fund selectors in the news Forum Milan 2019, taking place on 22nd November at the Patricia Justo, A&G Banca Privada; their investments Four Seasons Hotel. Ion Zulueta, Arcano Partners; Fabrizio Quirighetti, Decalia Asset Management; Didier Boublil, Architas; Benoît Ruelle, This exclusive event provides the opportunity for 35 key fund EVENT REPORTS Degroof Petercam AM; Claudia Raoul, selectors to evaluate the investment opportunities presented 22 Paris Invest Week Invesco; Tilo Marotz, Donner & Reuschel WITH THIS ISSUE and to benefit from the knowledge of leading fund managers. 23 Lyon Patrimonia 6 People & Funds Highlighting the Bright ideas coming to market 24 Helsinki Roundtable Women In Investment Up to five leading asset management companies will present EVENT INFORMATION 14 Allocator profile 26 Madrid Spainsif Awards Italy 2019 – Sepiam’s Yohan Kadri-Caillaux their strategies to top investment professionals in the region. DATE: 22 November 2019 inspiring achievements believes having an open mind is a TIME: 08:20-14:30 of and by women key differentiator in today’s crowded Complimentary attendance for professional LOCATION: Four Seasons across the industry financial universe investors involved in fund selection. Hotel, Milan 32 Podcasts 33 Travel diary Frankfurt, Zurich, Paris, Madrid To register your interest in attending this exclusive event please contact 34 Upcoming events Luisa de Vita: [email protected] or +44 (0)203 727 9932 For further information visit the event website: inves tmenteurope.net/events Sponsored by: Educational partner: Carbon Offset Partner: Brought to you by: Follow us on Twitter @inveurope Sustainability partner: Digital editions of InvestmentEurope are available for your desktop, laptop, tablet and smartphone. Visit www.investmenteurope.net to download. 6,832 followers and growing! www.investmenteurope.net InvestmentEurope November 2019 2 LEADER INVESTMENT EUROPE An Open Door Media publication Great expectations Closer to Europe, in the UK, the election elixir has For investors who have become used to a particular proved too potent to resist by politicians unable to set of fiscal and monetary responses lending support make up their minds about how to complete – or not to Wall Street, this is likely to be seen as a particularly – the Brexit process. Thus the concerns over sterling important election in terms of the quite different volatility and UK mid and small caps will continue a fiscal policy proposals being touted by Democrat little bit longer until certainty is brought to bear on candidates. the issue via a more concerted mandate to take action However, as our main feature this issue illustrates, – or not. there is also a feeling among investors that there Jonathan Boyd, Thankfully, there is a much bigger political are factors beyond the control of the US that could, editorial director of event set to kick off in November, which will draw ultimately, impact on the performance and valuations InvestmentEurope attention away from most other uncertainties: the US of US assets. presidential elections. Actually a series of elections, if one considers the SPECIAL SUPPLEMENT primaries beforehand, and the voting that takes place October’s Women In Investment Awards Italy 2019 after the popular vote in the form of the Electoral was an unabashed success. We would like to share College, this promises to be a real humdinger. that with a wider audience, so with this issue you will It is hard to know sometimes who incumbent find a supplement outlining all the winners across president Trump dislikes more; combative Democratic their respective categories. Next year will see another Party candidates who could yet come to run against edition of the Awards in Milan; but also one in him, or possible fifth columnists from within the Madrid. Keep an eye on our events updates into 2020 Republican ranks. for further details. ■ Editorial Business development manager: Fund selector relationship manager, Editorial director: Jonathan Boyd Erica Geddes Italy & Ticino: Luisa de Vita UPCOMING EVENTS Tel +44 (0) 20 3727 9922 Tel +44 (0)2 0 7484 9700 Tel +44 (0) 3727 9932 The middle of November sees InvestmentEurope Iberia correspondent: Events Fund selector relationship Eugenia Jiménez Head of events: Alex Whiteley executive, Iberia: Angela Oroz return to Zurich for another edition of the Tel +44 (0) 20 3727 9930 Tel +44 (0) 20 3727 9923 Tel +44 (0) 20 3727 9920 Pensionskassenforum, which serves the Swiss DACH correspondent: Event manager: Lucy Wilson Fund selector relationship manager, Ridhima Sharma Tel +44 (0) 20 37 27 9948 DACH: Alexandra Laue institutional market with a curated programme Tel +44 (0) 20 3892 7911 Marketing Tel +44 (0) 20 7484 9768 of presentations and discussions relevant to local French-speaking markets Head of marketing: Vanessa Jagessar Fund selector relationship developments. correspondent: executive, France, Romandie & Tel +44 (0) 20 3727 9924 Milan then awaits with a Thematic Forum, before a Elisabeth Reyes Digital marketing executive: Belux: Alexandre Duransseau Tel +44 (0) 20 7484 9720 Catalina Butnariu Tel +44 (0) 20 7484 9784 visit to Tel Aviv hosting for local fund selectors. Production Tel +44 (0) 20 3727 9927 HR manager However, the eye is already cast towards 2020 and a Phil Turton Fund selector relations Maria Margariti first event taking place in early March in London that Commercial Head of fund selector relations: Tel +44 (0) 20 3727 9925 Managing director: Louise Hanna Vanessa Orlarey Chairman will further address diversity issues in the industry Tel +44 (0) 20 3727 9929 Tel +44 (0) 74 7393 4144 Nicholas Rapley through the Women In Investment Festival. It will be Head of sales: Eliot Morton Head of fund selector relations, Tel +44 (0) 20 3727 9939 a busy month with events also planned for Munich, Tel +44 (0) 20 3727 9945 Nordics: Patrik Engström Email: [email protected] Tel +44 (0) 20 3727 9940 Stockholm and Paris. April will see the Funds To Watch concept come to Geneva; ahead of May Summits at Lake Como, Italy, and No part of this publication may be reproduced, in Barcelona. Oslo, Vienna and Dublin will round out stored in a retrieval system or transmitted in any form or by any means without the prior written the first half of the year with events taking place in June. permission of the publisher. Photocopying or other reproduction is prohibited without the Details of these and other events can be found at: publisher’s permission. Action will be taken www.investmenteurope.net/events. where this occurs. Distributed by Open Door Media Publishing Ltd. PPA PUBLISHING INNOVATOR OF THE YEAR 2015 InvestmentEurope November 2019 www.investmenteurope.net ZURICH, 14 NOVEMBER 2019 BENEFIT FROM THE KNOWLEDGE OF LEADING FUND MANAGERS InvestmentEurope is pleased to present the Pensionskassenforum 2019, taking place on 14th November at the Baur au Lac in Zurich. This event is specifically designed for executives of pension funds and investment foundations in Switzerland. Delegates will benefit from the knowledge and key insights of industry experts and leading fund EVENT INFORMATION managers active in the institutional arena. This is your opportunity to DATE: 14th November 2019 access insight into pensions regulatory challenges and the impact of START TIME: 08:00 ESG/sustainability on investment decisions. The event also offers a END TIME: 15:35 highly effective platform for networking with peers. LOCATION: Baur Au Lac, Zurich Register today to secure your free place at this exclusive event.
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