Posts Tagged “FundForum Middle East 2010”

A complete round up of news and views from FundForum Middle East 2010

October 11, 2020

FundForum Middle East is the “must attend” annual wealth management conference.   On behalf of our sponsors,  we would like to thank all the delegates and speakers who attended and participated in the many panels, debates and networking events.

We have captured a series of video interviews with some of the industry leaders which will be posted on this site over the coming weeks.   To make sure you don’t miss out, either add the RSS feed to your reader or sign up for email alerts.

. - Fund Forum Middle East 2010 opens with Bahrain EDB focus on fund management

In his opening address at the event in Manama, Shaikh Mohammed highlighted Bahrain’s long and impressive track record within financial services, particularly in fund management, and to the structural growth drivers of a rapidly expanding domestic population, and growing prosperity within the region, which is underpinning long term demand for financial products and services. The increasing contribution to world economic growth from the Middle East, alongside other emerging markets such as China and India, prompted Shaikh Mohammed to also identify the ‘rise of the East’. more here


Gulf Daily News - With the world’s largest concentration of millionaires, fund managers across the globe are taking a long, hard look at us.

That was the message Economic Development Board (EDB) chief executive officer Shaikh Mohammed bin Essa Al Khalifa had for delegates at the opening session of the 4th Annual Fund Forum Middle East at the Diplomat Hotel yesterday. more here

. - Bahrain GDP to grow 4.5%

The Kingdom’s Gross Domestic Product (GDP) growth was expected to hit an impressive 4.5 per cent this year from three per cent in 2009, Chief Executive of the Bahrain Economic Development Board Shaikh Mohammed bin Essa Al Khalifa said yesterday at FundForum Middle East 2010. more here


Gulf Daily News - Awareness drive “crucial”

“The asset management industry is evolving at a deceptively fast pace,” said Mr Stockell, Ernst & Young (E&Y) EMEIA Asset Management Leader, in his keynote address at the FundForum Middle East 2010 conference. “Asset managers and service providers face challenges every single day whether it’s managing business growth, mitigating risk, providing transparency or embracing regulatory scrutiny. We aim to steer the dialogue between fund selectors and asset and investment managers for improving wealth management practice in the region.” more here


Gulf Times - ‘Gulf investment management industry largely untapped’

Speaking ahead of the FundForum Middle East event, Sico CEO Anthony Mallis said: “The global financial crisis triggered a chain reaction, which reached the GCC almost simultaneously, negating talk earlier of a decoupling with other financial markets. Despite the impact of the crisis, however, we believe that there are positive growth opportunities for the GCC asset management industry, although we remain concerned that a number of key challenges still need to be seriously addressed.” more here


Trade Arabia - Market research ‘vital for industry growth’

“Market research can play a vital role in regional financial markets if players are prepared to look at the benefits of this highly-important management and marketing tool”.  That is the view of Insight Discovery chief executive officer Nigel Sillitoe, who chaired the morning session of the Fund Forum Middle East 2010 at the Diplomat Radisson Blu Hotel, Residence and Spa yesterday. more here

Post Under: General

Of locomotives, oil tankers and coal trucks: Why Asia’s appetite for commodities is firing up growth in emerging markets.

September 22, 2020

An article by Michael Power, Investec Asset Management

Michael Power, Strategist, Investec Asset Management will speak at FundForum Middle East 2010

Although the term ‘decoupling’ lost favour as even stock indices in emerging markets tumbled in the wake of the 2008 Credit Crunch, if one looks merely at the macroeconomic performance of the global economy, it is a fair description of what has happened. The world has since divided itself broadly into two economic tracks: the fast one led by the locomotives of China and, to a lesser extent, India versus the slow one headed by the Puffing Billies of the US, Europe and Japan.

In 2009, the rest of the world attached themselves to whichever train most dominated their export profile. Nearly every other country could be classified as one of three types of rolling stock: coal trucks (exporting coal and metals), oil tankers (oil alone) and passenger cars (net resource importers).

It would be neat but incorrect to conclude that the first two resource-rich categories hitched themselves to the growth engines of Asia in 2009 whilst the passenger cars – Mexico and Eastern Europe – had little alternative but to follow their adjacent locomotives. Yes, the coal trucks went with Asia and the passenger cars with Europe and the US but the latter were – in 2009 at least – joined by the oil tankers too as the West’s energy needs were still more oil-intensive whilst the East’s energy needs were still more coal-based. Since then, as China’s oil intensivity has continued to grow apace, the oil tankers have started to ‘jump tracks’ and hitch themselves increasingly to the Asian locomotive, though they have yet to make the transition completely.

Interestingly, there are four countries in the Western Bloc that have ‘jumped train’ too – Australia, Canada, Norway and New Zealand.  Their export profile makes them much more coal trucks or in Norway’s case, an oil tanker, than their Western peers. And this status has served them remarkably well – they have escaped the recent recession with only a few scratches and their currencies are increasingly regarded as safe havens in an otherwise choppy sea.

If the New Normal does grasp most of the big Western markets in its icy grip – though less so Germany, it seems, again because of its export connection to China, in their case of capital goods – then these Western economies are set for a long period of slow growth. By contrast, countries that have resources to export to both the hungry Chinese Dragon and the now dancing Indian Elephant having already shielded themselves from the “global” slowdown. (Note that Western commentators frequently mislabel what has essentially been a Western phenomenon as a “global” one.) And as China’s resource-intensive growth phase still has a good decade to run and India’s equivalent at least three (not to mention their smaller but often still heavily populated Asian neighbours like Indonesia at 235m, Vietnam at 86m, and Bangladesh at 165m), the commodity super-cycle still has very long secular legs. This can only be good for the future prospects of resource-rich nations, be they coal trucks or oil tankers, most of which are in emerging markets.


Michael will present key insights on evaluating the implications of commodities prices on emerging markets investing and predictions for future growth at FundForum Middle East, 4th October at 9.50am.


About Michael Power, Strategist, Investec Asset Management

Michael began his career working in the Middle East dept at Chase Manhattan Bank before joining Anglo American’s corporate finance department in South Africa.  Michael then worked in the London corporate finance department of NM Rothschild & Sons/ Smith New Court where his responsibilities had a strong natural resource emphasis.  Having completed a 4X4 overland safari through Africa, Michael worked for HSBC-Equator Bank in Kenya for 4 years.  He returned to England to work at Baring Asset Management as a director in their emerging markets department.  Michael was Head of Africa and the Middle East as well as the natural resources sector, and was also portfolio manager for the Pan African Simba Fund.

Post Under: General

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