Jean-François Lepetit, Professor of Finance at EDHEC Business School and Chairman of the EDHEC Risk and Asset Management Research Centre Advisory Board
Noël Amenc, Professor of Finance at EDHEC Business School and Director of the EDHEC Risk and Asset Management Research Centre
• Limitations and criticism of broad equity indices with regards to their efficiency and purity: presentation of an exclusive EDHEC survey
• Enhancing the efficiency of the "Core": sector or style ETF allocations
• Managing the global biases of indices - the completeness portfolio approach
Chairperson
Jean-Pierre Grimaud, Chief Investment Officer, Swiss Life France, and Vice-President, French Association of Institutional Investors (Af2i)
Speaker
Felix Goltz, Senior Research Engineer, EDHEC Risk and Asset Management Research Centre
• Index benchmarks are used to develop asset allocation strategy, but implementing with actively managed strategies can result in unintended investment consequences
• Optimal blending of Alpha and Beta implementation solutions is "Active Risk Budgeting": process to determine how much active risk to take across asset classes when implementing asset allocation while seeking alpha
• iShares ETFs support total portfolio management solution: tradable cash products across multiple asset classes, providing investment exposure to well known institutional benchmarks
Speaker
Ahmed Talhaoui, Head of Portfolio Solutions, Barclays Global Investors
Plenary Session:
16:00 Regulatory Constraints on the Use of ETFs in Europe
• Constraints on the distribution of ETFs
• UCITS investing in ETFs
• Constraints imposed on institutional investors
Chairperson
Michel Degiovanni, President, French Association of Institutional Investors (Af2i) and Chief Financial Officer, Matmut
Speaker
Hubert Reynier, Managing Director, Head of Regulation and International Affairs Division, Autorité des Marchés Financiers (AMF), Chairman of IOSCO Standing Committee on Investment Management (SC5)
• The place of ETFs in an institutional investor's allocation - exclusive results of a pan-European EDHEC survey
• ETFs: a possible solution to the question of UCITS consolidation?
• ETFs: a possible tool to support the structuring of investments in new asset classes (real estate, commodities, private equity, etc.)
• How to apply transparency rules of ETFs to CPPI or DPI products?
• What types of pay-offs can be structured in ETFs (capital protection, leverage, bear exposure...)?
• Actively managed ETFs: opportunities and limitations
• Strategies using leveraged ETFs in institutional portfolios, comparison with alternative instruments
• ETFs with capital protection: applications
• Trading: fair price dissemination, market-making
Speaker
François Millet, Head of Index-linked Products Sales, SGAM Alternative Investments
