Dubai - The first Finans Network UAE event of 2012 took place on 27th February in the Capital Club, Dubai International Financial Centre addressing Global Investment Trends & How To Become A Better Investor. Members and Guests of Finans Network UAE met with Copenhagen based Carnegie Asset Management firm Managing Director Matthias Wiegand, Frankfurt based Funds@Work CEO Dr. Murat Uenal and Abu Dhabi based The National Investor Head of Asset Management Walid Hayeck. The event brought together senior managers and representatives from approx. 50 financial institutions based in the UAE.
Talha Yesilhark, Finans Network Board Member and founding partner of Finans Network’s UAE Chapter said: “We are extremely pleased with the feedback providing a successful forum through which meeting participants have gained a deeper understanding of the global and local asset management industry, global stock markets performance and where MENA markets are heading in such turbulent times of political and economical uncertainty.”
Event Sponsor: Carnegie Asset Management.
Summary of main topics discussed during the evening:
Talha Yesilhark, Board Member of Finans Network.
The global recovery is threatened by intensifying strains in the euro area and fragilities elsewhere. Financial conditions have deteriorated, growth prospects have dimmed, and downside risks have escalated. Growth in emerging and developing economies is also expected to slow because of the worsening external environment and a weakening of internal demand. The most immediate policy challenge is to restore confidence and put an end to the crisis in the euro area by supporting growth, while sustaining adjustment, containing deleveraging, and providing more liquidity and monetary accommodation.
A convincing solution is yet to be found. The biggest critique of the current system of doing business is that the benefits of the good years have not been shared fairly, inequality in labor markets have grown and a small percentage of the world population with tight networks have benefited disproportionately from globalization and free markets.
Matthias Wiegand, MD, Carnegie Asset Management, Topic: Global Equity Trends and Stock Picks
Matthias discussed Global Trends in the Equity markets, the unavoidable current worries in the financial markets i.e. the European debt crisis providing a deep insight into the Greek sovereign debt tragedy and reasons why investors today need to focus on global trends than ever before. His key recommendations to the investor community was to “stay focused”, “diligently review investment ideas” and “understanding fundamental drivers” were key messages attendees have taken away.
Dr. Murat Uenal, CEO, Funds@Work, Topic: The Application of Network Analysis in the Investment Industry
Murat provided the audience with deep insights into the ecosystem of the investment industry. Hereby he focused on the application of network analysis and visualization to the asset management industry. He further demonstrated to us how network analysis can help identify risks within the financial system. He emphasized on greater transparency required in the financial markets and for investors to better understand links of business networks between individuals, institutions and locations.
Walid Hayeck, Head of Asset Management, The National Investor, Topic: GCC Investment Exposure - Where do investors see their future investments heading?
Walid presented on the MENA markets performance and valuations and emphasized on important aspects GCC investors look at before making investment decisions in today’s environment. Key takeaways were:
- World growth proven sustainable at 3.5% in 2011/2012, EM/Frontier still expected to grow by at least 5% in 2012, more than 3 times as fast as developed markets
- Arab spring should accelerate reforms and encourage open market economy and countercyclical measures. However delays in establishing new governments might lead to more political uncertainty.
- Increasing probability of a stand-off with Iran might disturb regional growth although globally impact strengthening oil prices
- Increasing slowdown risk in Europe could affect oil and other export demand