Morningstar
Asian
Four Seasons Hotel
Tuesday, 6 June 2017
Despite the challenging global growth outlook,
Asia’s transition to a consumer-led economy
has continued at a rapid pace. The rise of the middle
class has spurred growing demand for financial
services, from transactional banking to holistic wealth
management services. At the same time, the
growing importance of technology means that the
financial services industry in Asia is entering
an exciting phase. The emergence of fintech has
the potential to reinvent the industry and change how
investors get their financial advice. The 2017
Morningstar Institutional Conference Asia will explore
the opportunities that arise from the intersection
of technology and consumerism, and what this means
for the provision of advice in Asia.
08:15
Guest Registration and Breakfast
08:45
Opening Remarks
Nick Cheung, Chief Executive Officer, Asia, Morningstar
09:00
Morning Keynote—Financial Innovation in Wealth
Management—A Regulator’s Perspective
The growing importance of technology has spurred
financial innovation and competition in the
wealth management industry. Ashley Alder, CEO of
the Securities and Futures Commission of Hong
Kong, will discuss the opportunities and challenges
that arise from this evolving landscape and the
regulator’s role to put investors first as the industry
seeks to reinvent itself for the future.
Ashley Alder, Chief Executive Officer, Securities and
Futures Commission of Hong Kong
09:15
Morning Keynote—Putting Investors First in
Wealth Management 2.0
Technological and regulatory changes are
transforming the wealth management industry around
the globe. Morningstar CEO Kunal Kapoor will share
his perspectives on the future of the industry and how
Hong Kong Pan-
Institutional Conference
Morningstar is strategically positioned to help
improve investor experience and deliver better
outcomes for investors.
Kunal Kapoor, Chief Executive Officer, Morningstar
09:45
Global Market Outlook—Navigating Through
the Geopolitical Maze
Geopolitical events have caught the investment
world by surprise over the past year. With questions
raised over the future of globalisation amid the
backdrop of a rise in populism, Allianz Global Investors’
Neil Dwane, BlackRock’s Russ Koesterich, and
Morningstar’s Andrew Lill will share their market
outlook and outline how they are maneuvering their
portfolios through this challenging environment.
Andrew Lill, Chief Investment Officer, Asia Pacific,
Morningstar
Neil Dwane, Global Strategist, Allianz Global Investors
Russ Koesterich, Managing Director and Head of
Asset Allocation, BlackRock
Moderated by: Jeffrey Ptak, Global Director,
Manager Research, Morningstar
10:30
Morning Tea
10:50
Fixed Income Panel—Is the Tide Finally Turning?
After a decade of unconventional monetary policy in
the United States, the Federal Reserve appears
determined to accelerate its pace of interest-rate
normalisation. Are Asian economies and corporations
ready to thrive without the help of ultra-low
rates? BlackRock’s Neeraj Seth and J.P. Morgan’s
Stephen Chang will share their outlook on this
dynamic asset class and provide actionable advice
for fixed-income investors.
Stephen Chang, Managing Director, Head of Asian
Fixed Income, JP Morgan
Neeraj Seth, Managing Director, Head of Asian
Credit, BlackRock
Moderated by: Wing Chan, Director of Manager
Research, Asia, Morningstar
2017 Event
11:30
Morningstar Session—Mind the Gap
When it comes to investing, buying low and selling
high is something that every investor aspires to
do. Morningstar has been conducting the Mind the
Gap study in the U.S. since 2005 to find out just
how good U.S. investors are at doing just that (spoiler
alert: not too good). This year, the study was expanded
to include funds accessible to Asian investors,
and this session provides a snapshot of the results.
Arthur Wu, Senior Analyst, Manager Research,
Morningstar
11:40
Digital Disruption and the Future of Financial Advice
The intersection between digital technology and the
financial industry presents new prospects, but it
can also disrupt the way financial advice is provided
to consumers. Fidelity’s Jon Everill will share his
thoughts on the future of financial advice in the age of
technological innovation and how technology
can work in partnership with distributors, advisors,
and investors to achieve better outcomes.
Jon Everill, Head of Personal Investing Asia Pacific,
Fidelity International
12:15
Lunch
13:30
Afternoon Keynote—Fireside Chat with Cheah
Cheng Hye
From being a financial journalist to becoming one of
the leading practitioners of value investing in Asia,
Cheah Cheng Hye, chairman and co-CIO of Value
Partners, has an inspiring tale. In a fireside-style chat
with Morningstar’s Jeff Ptak, Cheah will share his
personal journey on how he built his investment
career and co-founded one of the most well-
recognized asset managers in the region and discuss
the lessons he learned along the way.
Cheah Cheng Hye, Chairman and Co-Chief Investment
Officer, Value Partners
Moderated by: Jeffrey Ptak, Global Director, Manager
Research, Morningstar

14:10
Asian Equities Panel—Surviving the Next Wave of
Creative Disruptions in Asia
Asia has been a major breeding ground for
creative disruptions, with the rise of mobile devices,
e-commerce companies, and other innovative
technologies revolutionising consumer behavior.
Robeco’s Arnout van Rijn, UBS’ Bin Shi, and First State
Stewart Asia’s Vinay Agarwal will share where
they are finding investment opportunities, some of the
challenges they face, and their outlook for Asian
equities against such backdrop.
Arnout van Rijn, Chief Investment Officer, Robeco
Asia Pacific
Bin Shi, Managing Director, China Equities, UBS
Asset Management
Vinay Agarwal, Director, Portfolio Manager, First State
Stewart Asia
Moderated by: Germaine Share, Senior Analyst,
Manager Research, Morningstar
14:50
Afternoon Tea
Morningstar
Institutional Conference
15:10
Morningstar Equities Research—How
China’s Changing Demographics Reshapes the
Investment Landscape
The demographic transition in China is expected
to bring about significant changes to its economic
structure in the coming decades. Morningstar’s
Chokwai Lee will open the session with an overview
of Morningstar’s demographics study, followed
by HSBC’s Mandy Chan presenting her perspectives
as a portfolio manager. The session will conclude with
a panel discussion between Chan and Morningstar’s
Dan Baker on how these demographic trends
can translate into investment opportunities in China.
Chok Wai Lee, Senior Equity Analyst, Morningstar
Dan Baker, Senior Equity Analyst, Team Lead
Morningstar Investment Management Asia Limited
Mandy Chan, Head of China and Hong Kong Equities,
HSBC Global Asset Management
Moderated by: Michael Holt, Head of Global
Equity Research, Morningstar
15:50
Morningstar Session—Indexing in a
Changing World
Market indexes have evolved considerably from their
origins as measures and benchmarks. Investors
today need a broad tool kit of indexes for the purposes
of analysis and portfolio construction. In this session,
Morningstar’s Dan Lefkovitz will explain how the
company’s indexes—from traditional beta to strategic
beta—can serve as lenses through which
to view market behavior as well as next-generation
rules-based passive strategies.
Dan Lefkovitz, Content Strategist, Morningstar
Hong Kong Pan-
Asian
2017 Event
16:10
The Practitioners’ Panel—Can Fintech
Revolutionise the Provision of Advice in Asia?
The proliferation of fintech could reinvent the
traditional wealth management model and
revolutionise the way it is provided to consumers in
Asia. CitiTrust’s Stewart Aldcroft, Privé Financial’s
Charles Wong, and Vontobel’s Michael Haupt will offer
their perspectives on whether fintech is friend
or foe when it comes to providing advice and what
they think the future holds for client engagement
in Asia.
Charles Wong, Co-Founder and Chief Executive Officer,
Privé Financial
Michael Haupt, Chief Operating Officer, Vontobel
Wealth Management
Stewart Aldcroft, Chairman, CitiTrust
Moderated by: Anthony Serhan, Managing Director of
Research Strategy, Asia Pacific, Morningstar
16:50
Key Takeaways
Morningstar’s Anthony Serhan will reflect on the key
investment themes discussed during the day, as
well as highlighting the opportunities and challenges
identified by our speakers from the integration of
technology in wealth management to how it affects
the way advice is provided in Asia.
Anthony Serhan, Managing Director of Research
Strategy, Asia Pacific, Morningstar