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[vc_media_type_category]Given the extreme volatility in markets, the changing global economic risks and policy responses, what is the future of the funds management industry?[vc_quotes layout=”accordion” quotes=”%5B%7B%22name%22%3A%22Jenny%20Johnson%22%2C%22job_role%22%3A%22Chief%20executive%2C%20Franklin%20Templeton%20(United%20States)%22%2C%22content%22%3A%22Jenny%20Johnson%20is%20president%20and%20chief%20executive%20officer%20of%20Franklin%20Resources%2C%20Inc.%20As%20president%20and%20CEO%2C%20she%20is%20responsible%20for%20the%20operation%20of%20all%20aspects%20of%20the%20business%2C%20and%20she%20will%20set%20long-range%20strategic%20objectives%20and%20drive%20corporate%20priorities.%5CnPreviously%2C%20Johnson%20held%20the%20role%20of%20chief%20operating%20officer%3B%20overseeing%20the%20majority%20of%20investment%20management%20and%20all%20related%20investment%20management%20support%20services.%20She%20was%20also%20responsible%20for%20Franklin%20Templeton’s%20global%20retail%20and%20institutional%20distribution%20efforts%2C%20including%20product%20development.%20In%20addition%2C%20she%20oversaw%20client%20service%2C%20fund%20administration%2C%20global%20technology%2C%20and%20the%20company’s%20high%20net%20worth%20business%2C%20Fiduciary%20Trust%20Company%20International.%20She%20remains%20a%20member%20of%20Franklin%20Resources’%20executive%20committee%2C%20a%20small%20group%20of%20the%20company’s%20top%20leaders%20responsible%20for%20shaping%20the%20firm’s%20overall%20strategy.%20She%20joined%20the%20company%20in%201988.%5CnIn%202014%2C%20Johnson%20was%20one%20of%2010%20executives%20named%20to%20Money%20Management%20Executive’s%20inaugural%20list%20of%20Top%20Women%20in%20Asset%20Management%20and%20was%20chosen%20by%20her%20peers%20as%20one%20of%20Ignites.com’s%20Most%20Influential%20Women%20in%20Fund%20Management.%20Johnson%20received%20the%202012%20Robert%20L.%20Gould%20Award%20presented%20by%20global%20investment%20management%20association%20NICSA%2C%20recognising%20outstanding%20achievement%20in%20helping%20the%20mutual%20fund%20industry%20better%20serve%20investors%20through%20customer%20service%2C%20thought%20leadership%20and%20technology.%20In%202010%20and%202011%2C%20she%20was%20recognised%20by%20the%20San%20Francisco%20Business%20Times%20as%20one%20of%20the%20Most%20Influential%20Women%20in%20Bay%20Area%20business.%5CnJohnson%20earned%20her%20B.A.%20in%20Economics%20from%20the%20University%20of%20California%20at%20Davis.%20She%20is%20a%20board%20member%20of%20Riva%20Financial%20Systems.%20She%20is%20also%20a%20trustee%20at%20Crystal%20Springs%20Uplands%20School%2C%20and%20a%20board%20member%20of%20the%20Lucile%20Packard%20Children’s%20Hospital.%5Cn%22%2C%22image%22%3A%2231932%22%2C%22linkedin%22%3A%22%22%7D%5D” title=”Speaker” el_class=””][vc_quotes layout=”accordion” quotes=”%5B%7B%22name%22%3A%22Colin%20Tate%22%2C%22job_role%22%3A%22%20Chief%20executive%2C%20Conexus%20Financial%20(Australia)%22%2C%22content%22%3A%22Colin%20Tate%20has%20been%20an%20investment%20industry%20media%20publisher%20and%20conference%20producer%20since%201996.%20In%20his%20media%20career%2C%20Tate%20has%20launched%20and%20overseen%20dozens%20of%20print%20and%20electronic%20publications.%20He%20is%20the%20chief%20executive%20and%20major%20shareholder%20of%20Conexus%20Financial%2C%20which%20was%20formed%20in%202005%2C%20and%20is%20headquartered%20in%20Sydney%2C%20Australia.%20The%20company%20stages%20more%20than%2020%20conferences%20and%20events%20each%20year%20%E2%80%93%20in%20London%2C%20New%20York%2C%20San%20Francisco%2C%20Los%20Angeles%2C%20Amsterdam%2C%20Beijing%2C%20Sydney%20and%20Melbourne%20%E2%80%93%20and%20publishes%20five%20media%20brands%2C%20including%20the%20global%20website%20and%20strategy%20newsletter%20for%20global%20institutional%20investors%20conexust1f.flywheelstaging.com.%20One%20of%20the%20company%E2%80%99s%20signature%20events%20is%20the%20bi-annual%20Fiduciary%20Investors%20Symposium.%20Conexus%20Financial%E2%80%99s%20events%20aim%20to%20place%20the%20responsibilities%20of%20investors%20in%20wider%20societal%2C%20and%20political%20contexts%2C%20as%20well%20as%20promote%20the%20long-term%20stability%20of%20markets%20and%20sustainable%20retirement%20incomes.%20Tate%20served%20for%20seven%20years%20on%20the%20board%20of%20Australia%E2%80%99s%20most%20high%20profile%20homeless%20charity%2C%20The%20Wayside%20Chapel%3B%20and%20he%20has%20underwritten%20the%20welfare%20of%2060%2C000%20people%20in%2028%20villages%20throughout%20Uganda%20via%20The%20Hunger%20Project.%22%2C%22image%22%3A%2231893%22%2C%22linkedin%22%3A%22https%3A%2F%2Fwww.linkedin.com%2Fin%2Fcolin-tate-839a5a181%2F%22%7D%5D” title=”Moderator” el_class=””][vc_empty_space height=”10px”]
Key takeaways
Market dislocations are a playground for active managers.
There will be an increased focus on the social aspect of ESG.
We had no sleepless nights post the acquisition of Legg Mason because we have a long-term view and the reason we acquired the business remain true today.
Equality is not only good for society, it’s good for business.
Fostering an environment that celebrates diversity through truly listening to different perspectives and experiences is critical. Only 2.9 per cent of VC funds go to female entrepreneurs.
Breadth and depth of data analysis capability will be critical in the future.
Governments can only do so much. What we do, every day, really matters. Let’s focus on doing it right.
The Florida State Board of Administration has made some strategic moves to take advantage of opportunities in the dislocation, including in private equity, distressed debt and active listed equities.. But CIO, Ash Williams, is concerned about the underlying real economy.
Fraud and falsehoods are nothing new but technology has made it much more difficult to separate fact from fiction. Professor Stephen Kotkin discussed investing in a world of deception.
Are the two world powers on a collision course for war? Could global investors get smashed between the two? Unfortunately, the answers appear to be yes and yes.
There is growing recognition that globalisation has a downside. But whether they are mitigated, or continue on the current course, investors should be looking to safeguard their portfolios.
The implications for investors of the inclusion of China A-shares in the wider MSCI indexes, an inevitable outcome, will be discussed at the Fiduciary Investors Symposium at Yale in October.
Geopolitical risk is largely priced in to markets according to the John P. Birkelund ’52 Professor in History and International Affairs at Princeton University, Stephen Kotkin.
Former Governor of the US Federal Reserve, Ben Bernanke, says there are no foreseeable shocks to the financial system. In any case, he says, the system itself is so much more robust than it was before the crisis, that it could weather the storm. The only possible cause for concern is geopolitical risk. Risk
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