Legg Mason Investment Forum

Active insights. Superior opportunities.

9am - 5.30pm. Wednesday, 4th October 2017

Given the combination of persistently low yields with elevated geopolitical risks and the likelihood central banks could begin tapering in the near future, investors face a tough challenge of generating returns amid rising volatility and uncertainty. This global backdrop not only favours a more active, flexible investment approach, it means that now, more than ever, active management requires in-depth, cutting edge thinking.

Our 2017 Investment Forum brings together a selection of our best thinkers in an intimate, interactive forum to discuss the challenges investors face in achieving their desired outcomes – and to find the solutions.

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Start time Item
09:00 Registration
09:25 Main platform:
Opening welcome & keynote
10:30 Networking coffee break
10:45 Breakout sessions
11:30 Breakout sessions
12:15 Lunch - table planned with Portfolio Managers
13:30 Breakout sessions
14:15 Breakout sessions
15:00 Networking coffee break
15:15 Breakout sessions
16:00 Main platform:
Panel debate
16:40 Main platform:
External keynote - Tim Harford
17:30 Conclusion & Close (followed by drinks)

Francis A. Scotland

Francis joined the firm in 2006 and has developed a proprietary global macroeconomic research structure to support the fixed-income group's investment process, and also provides investment ideas and strategic asset allocation recommendations. From 1984 until 2005, Francis was a principal of the BCA Research Group ('BCA'), formerly the Bank Credit Analyst, and head of global investment strategy. BCA is well known in the investment community for providing high quality and independent top-down macro forecasts and investment strategy. In addition to his strategist's role, he drove product development at the firm and contributed to its growth until the firm was sold in 2001. In the final three years at BCA, Francis was Editor-in-Chief of all the firm's investment research products. He spent several years in the policy departments of the Bank of Canada in the early 1980s working in the areas of monetary, economic and financial analysis. Francis has a Master's degree in Economics from the University of Western Ontario in London, Canada and an Honors BA in Economics from Queen's University in Kingston, Canada. He has lectured at a variety of economic, financial and investment conferences/seminars across North America, Asia and Europe and has written several editorials and essays for a range of financial publications including the Financial Times of London.

Andrew Belshaw

Mr. Andrew J. Belshaw, PhD, is Head of Investment Management, London and has 24 years of experience. Prior to joining the firm in 2009, Mr. Belshaw was Managing Director, Head of Sterling Fixed-Income at BlackRock Investment Management, Director of Institutional Fixed-Income at M&G Investment Management, and Director of Global Fixed-Income and Currency at Baring Asset Management. Previously he was a Senior Investment Manager of Global Fixed-Income at Gartmore Investment Management, and an Economist and Investment Manager at Whittingdale Investment Management.

Mr. Belshaw holds a Bachelor of Arts degree from Manchester Metropolitan University, and a PhD from the University of York.

Anup Agarwal

Legg Mason Western Asset Structured Opportunities Fund

Anup Agarwal is Head of MBS/ABS with Western Asset, and has over 20 years of experience. Prior to joining the firm in 2013, Mr. Agarwal served as Portfolio Manager and Head of Consumer Credit with Stark Investments; Head of Credit and Research with Invesco Fixed Income; Principal and Senior Vice President of Capital Markets with Prudential Insurance/Questech Financial; Managing Director of Structured Finance with Copelco Capital, Inc./Citicorp Vendor Finance, Inc.; and Assistant Vice President and Credit Analyst with Moody's Investor Service.

He holds an MBA in Finance from Temple University and a Bachelor of Technology degree from the Indian Institute of Technology.

Legg Mason Western Asset Structured Opportunities Fund

A total return fixed income fund which seeks to maximise total return by rotating across all structured product sectors. The fund invests primarily in mortgage and asset-backed securities which are not issued or guaranteed by US agencies, with a focus on the more liquid sectors and securities.

Bill Hench

Legg Mason Royce US Small Cap Opportunity Fund

William A. Hench is a Portfolio Manager for Royce & Associates, LLC, investment adviser to The Royce Funds. He serves as Portfolio Manager for Royce Micro-Cap Opportunity Fund (formerly Royce Opportunity Select Fund), Royce Opportunity Fund (with Boniface Zaino), and Royce Institutional–Opportunity Portfolio (with Boniface Zaino). Mr. Hench also serves as Assistant Portfolio Manager for Royce Low-Priced Stock Fund. In addition, he serves as Portfolio Manager for Legg Mason Royce US Small-Cap Opportunity Fund. €uro-Fund Awards 2010 named Legg Mason Royce US Small-Cap Opportunity Fund number one among North American Small-Cap Stock Funds based on performance for the one-year period ended December 31, 2009.

Mr. Hench joined Royce & Associates in 2002 after spending 10 years in the institutional equity business in Boston and New York, most recently with JP Morgan. Mr. Hench holds a bachelor's degree from Adelphi University and began his professional career as a CPA in 1986 with Coopers and Lybrand.

For more than 40 years, Royce & Associates has utilized a disciplined value approach to select smaller companies for our investment portfolios.

Legg Mason Royce US Small Cap Opportunity Fund

A US equity fund that seeks to grow capital over the long term by investing in a broadly-diversified portfolio of small- and micro-cap stocks. The Fund adopts an opportunistic value approach.

Evan Bauman

Legg Mason Clearbridge US Aggressive Growth Fund

Evan co-manages the Aggressive Growth, Multi Cap Growth, Global Health Care Innovations and All Cap Growth strategies. He has 20 years of investment industry experience, all with the firm and its predecessors.

Evan joined the organization in 1996 as an intern before graduating with a BS in Mathematics from Duke University.

Managed Strategies

  • Aggressive Growth
  • All Cap Growth
  • Multi Cap Growth
  • Multi Cap Growth ESG
  • Global Health Care Innovations

Investment Vehicles

  • ClearBridge Aggressive Growth Strategy
  • ClearBridge Aggressive Growth Fund
  • ClearBridge Variable Aggressive Growth Portfolios
  • ClearBridge All Cap Growth Portfolios
  • ClearBridge Multi Cap Growth Strategy
  • ClearBridge Multi Cap Growth Portfolios
  • ClearBridge Multi Cap Growth ESG Portfolios
  • ClearBridge Global Health Care Innovations Strategy
  • ClearBridge Global Health Care Innovations Fund
Legg Mason Clearbridge US Aggressive Growth Fund

A highly active US Equity Fund that seeks to generate long-term capital appreciation by investing in companies of any size with potential for above-average growth of earnings and cashflow.

Gerhardt (Gary) P. Herbert

Legg Mason IF Brandywine Global Income Optimiser Fund

Gary is a portfolio manager and head of global credit. Gary joined Brandywine Global in March 2010, bringing with him over 20 years of high yield experience. Previously, Gary was a Managing Director, Portfolio Manager with Guggenheim Partners, LLC (2009-2010); a Managing Director, Portfolio Manager with Dreman Value Management, LLC (2007-2009); and an Executive Director, Portfolio Manager (1999-2007) and Associate (1994-1998) with Morgan Stanley Investment Management. Gary earned his M.B.A. with Honors from Columbia University, and a Bachelor Degree from Villanova University. He also holds his Chartered Financial Analyst certification and is a member of the Philadelphia Scholars Program Investment Committee.

Legg Mason IF Brandywine Global Income Optimiser Fund

A global, unconstrained strategic bond fund seeking to provide an attractive income while preserving capital by investing actively across global fixed income sectors.

James H. Norman

Legg Mason IF QS Emerging Markets Equity Fund

  • Responsible for assisting the CEO with all business, strategic and investment decisions. He is also Head of Equity and the Portfolio Management Strategy team.
  • Formerly head of Deutsche Asset Management Quantitative Strategies Qualitative Alpha research. At Deutsche Asset Management, he also served as Global Head of Product Management, Senior Portfolio Specialist for Active US Equity and Asset Allocation, and as a senior management consultant from 1995 to 2010.
  • Prior to joining Deutsche Asset Management, he spent 5 years as a senior casualty underwriter for CIGNA International.
  • Education: AB from Vassar College; MBA from New York University.
Legg Mason IF QS Emerging Markets Equity Fund

A top-down macro driven strategy which aims to access the true growth opportunities within emerging markets whilst addressing the concentration risks inherent with traditional approaches, by systematically diversifying across countries and sectors.

Mark Whitehead

Legg Mason IF Martin Currie Global Equity Income Fund

Mark joined Martin Currie as Head of Income in November 2015. He manages the Securities Trust of Scotland, an investment trust with a global equity-income remit, and co-manages the Martin Currie Global Equity Income strategy. Previously, Mark worked at Sarasin & Partners where he constructed and managed a range of income, balanced, growth, and absolute return portfolios; he became lead manager for its thematic funds in the Global Dividend range in 2007, and latterly was appointed Head of Equity Income from 2010. Before Sarasin & Partners, he was a portfolio manager at stockbroker Capel Cure Sharp. Mark started his investment career at NatWest Stockbrokers in 1998 and is a member of the Chartered Institute for Securities & Investment (CISI)

Legg Mason IF Martin Currie Global Equity Income Fund

An actively managed, global equity fund which seeks to provide a rising income, with the potential for capital growth, by investing in high quality companies characterised by attractive valuations and sustainable growth perspectives.

Michael C. Buchanan

Legg Mason Western Asset Macro Opportunities Bond Fund

Michael C. Buchanan, Deputy Chief Investment Officer at Western Asset, joined the firm in 2005. He previously served as Managing Director and Head of US Credit Products at Credit Suisse Asset Management and as Executive Vice President and Portfolio Manager at Janus Capital Management. He also worked at BlackRock Financial Management as Managing Director and Portfolio Manager and at Conseco Capital Management as Vice President and Portfolio Manager.

Mr. Buchanan is significantly involved in nonprofit work, with a specific focus on education and childhood development. He is the former Board Chair and Board Member of Foothill Family Service (www.foothillfamily.org); current Board Chair and Board Member for Mayfield Junior School (www.mayfieldjs.org); member of the Brown University Class of 1990 25th Reunion Annual Fund Gift Campaign, and Former Vice Chair and Board Member for Pacific Oaks College and Children's School.

Mr. Buchanan holds the Chartered Financial Analyst designation and graduated with Honors from Brown University. He holds a Bachelor of Arts degree in Economics.

Legg Mason Western Asset Macro Opportunities Bond Fund

An unconstrained global macro fixed income fund that seeks to maximise total returns relative to a volatility budget. Over the long-term, returns are generated by alpha not beta, making this a fund for all fixed income environments.

Richard Elmslie

Legg Mason IF RARE Global Infrastructure Income Fund

Richard Elmslie is a founder, Co-Chief Executive Officer and Co-Chief Investment Officer of RARE Infrastructure. As a Senior Portfolio Manager, Richard is involved in assessing and critiquing research on all strategies and ensuring the smooth operation of the firm. Prior to founding RARE in 2006, Richard spent 19 years in the global infrastructure sector, including five years as Head of Power and Joint Head of Infrastructure at UBS Investment Bank. Highlights of Richard’s career include being part of the advisory team on the privatisation of the UK / Scottish and New Zealand Telecom, as well as team leader on the privatisation of major Australian airports in Sydney, Melbourne and Brisbane. Richard holds a Bachelor of Commerce from the University of New South Wales, is a member of the Institute of Chartered Accountants and is a Fellow of FINSIA.

Legg Mason IF RARE Global Infrastructure Income Fund

An income-orientated, global infrastructure fund, targeting a high level of income alongside capital growth. The fund invests in a diverse range of global listed infrastructure securities across a number of infrastructure sub-sectors and across different geographic regions.

Peter Bourbeau

Legg Mason Clearbridge US Large Cap Growth Fund

Peter co-manages the Large Cap Growth and All Cap Growth strategy products. Peter joined predecessor firm Shearson Asset Management in 1991, and has 26 years of investment industry experience.

During his career, Peter has worked in trading, fund management, research, and investment marketing. A graduate of the University of Florida, Peter obtained his MBA from Fordham University.

Legg Mason Clearbridge US Large Cap Growth Fund

A US equity fund with a focus on high quality companies with sustainable and growing income streams. The fund seeks to generate income and capital appreciation.

Anujeet Sareen

Legg Mason Brandywine Global Fixed Income Fund

Anujeet Sareen is a portfolio manager for the firm's Global Fixed Income and related strategies. Prior to joining the firm in 2016, Anujeet was a managing director of global fixed income and a global macro strategist, as well as chair of the Currency Strategy Group at Wellington Management in Boston. Over his 22-year career at Wellington (1994-2016), he held a variety of roles while cultivating extensive fixed income and currency management experience. Anujeet is a CFA® charterholder and earned a B.A. in Computer Science from Brown University.

Legg Mason Brandywine Global Fixed Income Fund

An investment grade sovereign only fund that seeks to maximise total return. The fund composition is benchmark agnostic, while the performance target is to outperform the Citigroup World Government Bond Index by at least 200 basis points on an average annual basis over rolling five-year periods.

Tim Harford

Senior columnist
Financial Times

Tim Harford is an economist, journalist and broadcaster, and senior columnist for the Financial Times. His columns, The Undercover Economist, and Dear Economist, in which FT readers' personal problems are answered tongue in-cheek with the latest economic theory, are published in the Financial Times. Tim's first book The Undercover Economist has sold one million copies worldwide in almost 30 languages. His book Adapt: Why Success Always Starts with Failure addresses the importance of adaptive, trial-and-error processes in tackling issues, and was nominated Leadership Book of the Year 2011 in the Axion Business Book Awards. He has recently published a new book called Messy, where using research from neuroscience, psychology, social science, as well as tales of inspiring people doing extraordinary things, he explains that the human qualities we value – creativity, responsiveness, resilience – are integral to the disorder, confusion, and disarray that produce them. Additionally, Tim is the presenter of Radio 4's "More or Less" and the iTunes-topping series "Fifty Things That Made the Modern Economy".

Videos


Discussing his theories on the "God Complex":
Watch video
Reflecting on how characteristics such as messiness can actually enhance our lives:
Watch video

Andrea Catherwood

Television presenter and journalist

As a main news anchor for Bloomberg Television, Andrea presented a weekday business program, Last Word with Andrea Catherwood, which focused on breaking news and the effect on the business market. Prior to this Andrea was a newscaster for ITV1 for nine years, anchoring programmes from both Washington and Iraq, and presented ITV1’s flagship political programme The Sunday Edition. An experienced newscaster and broadcast journalist, Andrea has reported from around the world. She was the first British journalist into Mazar-i-Shariff in Afghanistan after the city fell to the Northern Alliance and was among the first British television journalists to visit Guantanamo Bay.

Videos


UK inflation:
Watch video
The future of the Euro and the Eurozone:
Watch video

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The May Fair Hotel

Stratton St
Mayfair
London
W1J 8LT
Phone: 0207 769 8200