Zurich

8:00 AM

8:30 AM

Frank Schnattinger - Managing Editor, IPE D.A.CH

8:35 AM

Direct Lending: How does an investor position themselves for the ‘end of the credit cycle party’?

In a buoyant market for private debt, Hermes Investment Management will be discussing how investors should think about allocating to direct lending strategies to deliver optimal risk adjusted returns in the current environment.

Patrick Marshall - Head of Private Debt and CLOs, Hermes Investment Management

8:55 AM

Investing in financially stressed and distressed companies through a total return long/short credit strategy

How to find liquidity in distressed debt investing
What are the fundamentals of the European distressed market?
How can a short portfolio be implemented?
Reviewing case study examples

Galia Velimukhametova - Senior Investment Manager, Pictet Asset Management

9:15 AM

Coffee break

9:30 AM

The Changing Landscape in Lending

How to navigate among the increasingly complex technological innovations impacting business models in lending
Which trends have the largest influence on business models of banks (players in financial services) in practice and why?
What are the factors that will determine who will be gaining market share among participants? Can we predict winners and losers? Which are the new business models that are successful in gaining market share and why?

Gabriella Kindert - Board Member, Mizuho Bank

9:50 AM

How Important is Credit Selection for High Yield Bond and Leveraged Loan Investors?

With European corporate default rates at (or close to) all-time lows and the ECB expected to embark on another round of QE, this presentation will:

Examine current market dynamics in the sub-investment grade space and the inter-play of technicals and fundamentals
Assess the importance of credit selection across market cycles and in different economic conditions
Compare relative value opportunities across high yield bonds and leveraged loans
Explore how flexible mandates can capture superior risk-adjusted returns in a portfolio
Evaluate the resources required to build and manage high yield bond and leveraged loan portfolio

Madelaine Jones - Managing Director & Portfolio Manager, Oaktree Capital Management

10:10 AM

How to Effectively Navigate Changing Market Conditions Through an Effective Risk Management Approach and Nonetheless Find Attractive Opportunities in European Corporate Bonds

With a late credit cycle looming and trickier market conditions ahead what should European investors be thinking. This may not be the time to over-stretch for yield, as a portfolio of well managed corporate bonds can deliver solid risk-adjusted returns. ESG analysis when embedded in the credit research process can aid quality security selection over the long term.

Josef Helmes - Investment Director, Aberdeen Standard Investments

10:30 AM

Open discussion

10:45 AM

Close of seminar