Few people thought that 2019 would be about a stock market rally even amidst such geopolitical risks and concerns regarding global economic growth. Aside from stocks, the commodity and raw material markets also took off last year, while there is an growing sentiment that the current price levels are unsustainable. Somehow, the investment world has found itself pushing the gas and brake pedals at the same time as nobody wants to miss out on a soaring stock market but everyone is ready to seek cover should things go south. The question is, what will 2020 bring? Pedal to the metal or locked brakes? Or maybe both?
09:00 - 09:05
09:05 - 09:20
Introductory thoughts – What are the hottest topics in macroeconomy?
Speaker: Péter Virovácz, Lead analyst, ING Bank
09:20 - 09:45
Megatrends – What will be the investments of the future?
Speaker: Holger Wehner, CFA, CAIA, Director, Head of Product Specialists Equity Europe, Allianz Global Investors
09:45 - 10:50
Brake, as or both? What will 2020 bring? – Panel discussion
Conversation participants:
Similar to stock indices, key raw material prices rose sharply last year: among metals, palladium saw its price climb 44%, in the oil market, WTI rose 22%, while coffee costs 26% more than a year ago. Gold has gained handsomely despite the stock market also doing well last year, so it is questionable whether it makes sense to get on board after such a big increase. There was also an interesting phenomenon in the property market, as the rate of price increase seen in recent years slowed. Should higher yields be sought in the residential, commercial, industrial or office segments?
11:20 - 11:40
Gold is soaring, but can it keep our money safe during the next crisis?
Speaker: Norbert Cinkotai, vezető elemző, KBC Equitas
11:40 - 12:00
Oil prices jerked up and down – What should we prepare for this year?
Speaker: Tamás Pletser CFA, olaj- és gázipar elemző, Erste
12:00 - 12:20
Palladium storms the market – Will it bring 40% this year as well?
Speaker: Ferenc Hosszú CFA, Director, Commodities, OTP Alapkezelő Zrt.
12:20 - 12:40
Falling prices in the global property market – What should real estate investors do?
Speaker: Bálint Botos CFA, Managing Partner, Forestay Alapkezelő
Investors are increasingly into environmental awareness, and this shows in investments as well: investments prioritising environmental, social and governance (ESG) are gaining ground at an astounding rate, while an increasing number of Hungarian fund managers are coming up with their own ESG or thematic funds and businesses now consider ESG certificates essential.
11:20 - 11:40
11:40 - 12:00
Is it worth being an ESG compliant business? – First-hand experiences
Speaker: Gergely Jancsár, Fenntarthatósági Terület vezető, MOL Csoport
12:00 - 12:50
ESG funds are spreading worldwide, but have Hungarian investors caught on to them? – Panel discussion
Conversation participants:
The summer of 2019 marked the dawn of a new era in the Hungarian savings market with the introduction of the 'superbond', which has brought a series of changes to market players. Despite good yields, investment funds were unable to attract substantial new investments in 2019, property funds were among the chief casualties of the MÁP+ bond, the amount of stocks held by households is increasing but not fast enough, while cash use has reached unprecedented levels.
14:00 - 14:15
What novelties will Hungarian government security indices bring in investments?
Speaker: András Bebes, főosztályvezető-helyettes, ÁKK, Stratégiai Főosztály
14:15 - 14:30
Increasing the financial assets of households – Will all savings instruments get a share of the pie?
Speaker: Zsolt Kuti, monetáris politikáért, pénzügyi piaci és makrofinanszírozási elemzésekért felelős ügyvezető igazgató, Magyar Nemzeti Bank
14:30 - 15:20
5% risk-free yield: will Hungarian fund managers be able to keep up this year? - Panel discussion
Conversation participants:
The domestic private banking sector has grown to HUF 6,000 billion and the rate of asset growth is reminiscent of pre-crisis years. The number of customer accounts is not growing at the same rate, however, meaning that increasing wealth is being concentrated in less and less accounts. The number of private bankers has remained level at best in recent years, and there is increasing pressure on them while discretionary portfolio management is beginning to gain ground in Hungary. Meanwhile, wealthy customers demand more than simply high yields, and managing family assets now often requires trust wealth management.
14:00 - 14:15
When unit-linked life insurance can be worthwhile for private banking customers
Speaker: Dániel Gyurkó, Analyst, portfolio manager, UNION Vienna Insurance Group Biztosító Zrt
14:15 - 14:30
Regional private banking outlook – What are wealthy customers after?
Speaker: András Kállay, Private Banking Ügyvezető Igazgató és Retail CIO, Raiffeisen Bank International
14:30 - 15:20
The numbers indicate a golden age but private banks may not take their eyes off the ball – Openly on customers, yields, wealth outlook and the burdens on private bankers
Conversation participants:
Digital novelties are spreading like wildfire in investments, and service providers who wish to remain competitive must take customer service to a new level. This section aims to outline, through flash presentations, the new investment platforms and decision support systems now available in Hungary to private bankers, portfolio managers and their customers.
15:30 - 15:40
Digitalisation at private banks and fund managers – Myth or reality?
Speaker: Anita Kövesdi, Account Manager, Dorsum
15:40 - 15:50
Decision support solutions in customer service – Initial results and experiences
Speaker: Zsuzsanna Szabó, befektetési szakértő, Raiffeisen Bank
15:50 - 16:00
Digitalisation, PSD2, data aggregation – How do these affect financial services?
Speaker: Zsombor Kádár, product owner, Aggreg8
16:00 - 16:10
“Tear down this Wall!” – The vanishing line between bank accounts and investments
Speaker: Balázs Faluvégi, senior elemző, Portfolio
Aside from ESG, thematic investments are also conquering the world, building on the key trends of the present and the future. Environmental protection, innovation, healthcare and automation are just a few of the fields in which these funds are investing. This section aims to show through flash presentations what the most promising thematic funds in Hungary are investing in.
15:30 - 15:40
Megatrends in investments: 5 megatrends from 5 sectors
Speaker: Szabolcs Sztakó, Senior sales manager, Erste Alapkezelő
15:40 - 15:50
15:50 - 16:00
Climate protection with oil shares?
Speaker: Márk Varga, lakossági értékesítési vezető, Amundi Alapkezelő
16:00 - 16:10
Hungarian absolute return funds has a successful year in 2019, with the cream of the crop boasting 10% or even higher returs. Of course, it is not that hard to produce high returns in a world where asset prices are breaking new records, but what happens when some professional investors are already setting up for a different environment? This section aims to offer an insight into the market visions and investment strategies of renowned portfolio managers managing absolute return funds.
16:40 - 17:30
Successful Hungarian portfolio managers share their expectations and investment ideas for this year – Panel discussion
Conversation participants:
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