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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.
Political regimes around the world are stuck in a series of dead-ends and despair. Most importantly, the China-US relationship has hit a brick wall as their fundamentally different values and interests clash. Deterrents and robust policy is the only way forward, says Stephen Kotkin, professor in history and international affairs, Princeton University.
Nobel prize winner Esther Duflo suggests institutional investors can help alleviate poverty by fostering new supply chains and looking beyond a country's credit rating. She said there is an "unacceptable" level of poverty amongst Africa Americans and Latinos who are keeping the US economy going but dying for it.
Global asset manager Robeco has found proactive stewardship triggers important changes in corporate behaviour. Chief executive Gilbert van Hassel urges FIS 2020 Digital delegates to do the same.
In a fireside chat, CIO of CalPERS Ben Meng talks about how the fund wants to use leverage to push deeper into private assets, while Ronald Wuijster, chief executive officer, APG Asset Management said the policy response has made taking advantage of buying opportunities difficult.
Investors should use stewardship to encourage purposeful companies that provide long-term value by meeting the needs of multiple stakeholders and helping improve society. But what is a purposeful company?
Understanding the two policy making camps in China - one which is concerned about debt and one which is worried about a slowdown in growth - is key to understanding China's position in the global economy, says professor of finance at Peking University, Michael Pettis.
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