Wednesday, 2 November 2016
Thursday, 3 November 2016
| 8:30 am-9:00 am | Registration and Coffee Venue: Auditorium Gallery |
|---|---|
| 9:00 am–10:15 am | Session 6: Internationalization of the Renminbi Venue: Auditoriums A&B Speakers: Mr. Pierre Van Peteghem, Treasurer, ADB Mr. Edmund Ng, Chief Investment Officer, Eastfort Asset Management Mr. Jukka Pihlman, Global Head, Central Banks and Sovereign Wealth Funds, Standard Chartered Bank Mr. Hon Cheung, Regional Director – Asia, Official Institutions Group, State Street Global Advisors Singapore Limited Moderator: Mr. Jonathan Grosvenor, Head, Treasury Client Solutions Unit, ADB With People’s Republic of China being the world’s second largest economy, a greater role of renminbi is also expected in international economic and financial activities. This expectation is further supported by the IMF’s inclusion of the renminbi into the SDR basket, which also makes it an official reserve currency. This session will provide an update of the latest developments on internationalization of renminbi and views on both its emergence as well as challenges as a reserve currency. |
| 10:15 am–10:30 am | Open Discussion |
| 10:30 am–10:50 am | Coffee Break Venue: Auditorium Gallery |
| 10:50 am–11:45 am | Session 7: Role of Sovereign Wealth Funds in Managing Reserves Speakers: Mr. Heung Sik Choo, Director, Investment Management Division, World Bank Treasury Dr. Sung Cheng Chih, Founding Partner and Chief Executive Officer, Avanda Investment Management Pte Ltd Moderator: Mr. Deepak Taneja, Principal Treasury Specialist, ADB The population of SWFs continues to grow, based on commodity and oil exports, budgetary or current account surpluses, or to build up pensioned savings. Several Asian countries have transferred part of their reserves into SWFs to bring greater focus on investment management of national wealth, as well as facilitate diversification into longer term higher yielding but potentially less liquid investments. The argument to set up separate entities is strengthened with the need to diversify into alternate asset classes in this low to negative interest rate environment. |
| 11:45 am–12:00 nn | Open Discussion |
| 12:00 nn–12:30 pm | Session 8: Gold in a Negative Interest Rate Environment: Implications for Reserve Managers Speaker: Mr. Shaokai Fan, Director, Central Banks and Public Policy, World Gold Council Moderator: Mr. Jai Arya, Consultant, ADB Central banks have been a bullish influence on gold, especially since the financial crisis for the first time in decades. Collectively, central banks own roughly one-fifth of the world’s gold stocks-worth about US$ 1.2 trillion. This session will cover - Overview of Gold Market Performance - Trends in Central Bank Gold Purchases - Impact of negative interest rate policy on central bank gold investment - Reserve Portfolio Optimization |
| 12:30 pm–12:45 pm | Open Discussion |
| 12:45 pm–1:45 pm | Lunch Venue: Executive Dining Room Coffee Lounge |
| 1:45 pm–2:45 pm | Session 9: A View from the Issuance Side Speakers: Ms. Eiko Kimata, Director for Debt Management and JGB Investor Relations, Ministry of Finance, Japan Mr. Tim Hext, General Manager, Funding and Balance Sheet, New South Wales Treasury Corporation Ms. Christina Cho, SSA Debt Capital Markets and Derivatives, BNP Paribas Moderator: Ms. Maria A Lomotan, Assistant Treasurer, Funding Division, ADB Given the vast investments by reserves managers in public debt, it is essential that they have an up-to-date view of developments affecting the issuance of debt. In this session we will hear from credit market participants who will provide a global perspective and comment on current developments around the issuance of bonds, the impact of both QE and Dodd Frank on the liquidity of both government and corporate bond markets. |
| 2:45 pm–3:00 pm | Open Discussion |
| 3:00 pm–4:15 pm | Session 10: Best Practice in Engaging External Service Providers Speakers: Mr. Róbert Rékási, Head of Foreign Exchange Reserves Management, National Bank of Hungary Mr. Mohamad Ali Iqbal, Deputy Director, Investment Operation and Financial Market Department, Bank Negara Malaysia Mr. Richard Williams, Senior Financial Officer, Sovereign Investment Partnerships, World Bank Treasury Mr. Gary Smith, Head, Strategic Relationship Management Team, Sovereign Wealth Funds and Official Institutions, Baring Asset Management Moderator: Mr. Asad Alamgir, Senior Treasury Specialist, ADB With a low yield environment beginning to look like the new normal, central banks need to continue to diversify their asset classes. However as they initially branch out into new asset types, it may be prudent to initially employ external managers. What has the experience been with external fund managers? What is the optimum way to leverage them, and for which asset classes? What is the appropriate mandate for EFM? How has their performance compared to internal managers? This session will discuss the advantages and costs of employing external fund managers. |
| 4:15 pm–4:30 pm | Open Discussion |
| 4:30 pm–4:45 pm | Closing Remarks Mr. Jonathan Grosvenor, Head, Treasury Client Solutions Unit, ADB |
| 4:45 pm-5:15 pm | Coffee Auditorium Gallery |
| 5:15 pm-5:30pm | Shuttle Service to Edsa Shangri-la Manila |
GROUP PHOTO
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