Wealth Insights | Mid Year Outlook 2018

Views from the market

Volatility is back. Are you prepared?

What do you see as the biggest risk factor in the second-half of 2018 that would further add to the volatility of the market?

Poll Form

How do you capture investment opportunities in Asia amid volatility?

How are you planning to rebalance your portfolio allocation in view of the current macro environment?

Poll Form

From a Hong Kong based investor view, what are the key investment ideas in the near term?

What do you see as the best investment opportunity for Hong Kong based investors in the near term?

Poll Form

Images from the event

Investing today seems more challenging as the world economy stands on the brink of significant structural upheaval. Market volatility is back with rising interest rates and geopolitical concerns. Are investors' portfolios prepared?

At the same time, investors need to consider important longer-term trends. China's R&D spend will surpass the US in 2018. With a continued structural increase in consumption benefiting key players within the global consumer sector, despite the face of an escalating Sino-US trade dispute, growth can be found in less traditional areas and the sectors will continue to benefit from advances in technology and changing customer behavior. Protectionist policies and tariffs may be a cut that breaks the skin for certain sectors and supply chains, but will they hit the bone?

At the Wealth Insights | Mid Year Outlook 2018, our Chief Investment Office and business and financial industry experts gathered and provided insights into these current hot topic issues and how they are impacting business and portfolios and what you can be doing to take advantage of the opportunities and to avoid the risks.


An overview of the topics that were discussed at the forum.

UBS Wealth Insights group on LinkedIn

The UBS Wealth Insights group on LinkedIn is designed to explore wealth management and market trends in Asia Pacific

Event Host

Amy Lo

Chairman and Head of Greater China, UBS Global Wealth Management and Country Head of UBS Hong Kong

Amy Lo is Chairman and Head of Greater China of UBS Global Wealth Management, Chief Executive of UBS Hong Kong Branch, and a Group Managing Director at UBS. Based in Hong Kong, she leads UBS's wealth management business in the Greater China region. As the Chief Executive of the Hong Kong Branch, she is responsible for the firm's strategic development and oversees business activities in Hong Kong.

Since joining the firm in 1995, she has held a number of senior management positions including Regional Head of Ultra-High Net Worth (UHNW) in Asia Pacific where she built up the practice and offering into today's position as the leading regional wealth manager for UHNW individuals.

Amy chairs the Hong Kong Private Wealth Management Association (PWMA); is a member of the Exchange Fund Advisory Committee (EFAC) Financial Infrastructure Sub-Committee of Hong Kong Monetary Authority; a member of the Banking Industry Training Advisory Committee of the Hong Kong Education Bureau; and a member of the MBA Advisory Board at the University of Hong Kong. She is also an Advisor of the Industrial Consulting Committee at the HongKong X-Tech. Amy was recently named by a top-tier media in China, China Business News, as one of the "Hong Kong Top 20 in the next 20 years" for her contribution to innovation developments in Hong Kong.

Amy is a Board Member of the UBS Optimus Foundation, the independent global grant-making foundation aimed at improving the education and welfare of children globally.

Special Guest speakers

Frank Lavin

CEO and Founder, Export Now

Frank Lavin is the CEO and founder of Export Now, a U.S. firm that operates e-commerce stores in China for international brands. Established in 2010, Export Now is the largest off-shore operator of China e-commerce stores, helping brands from around the world in strategy and operations.

In Government, Lavin served as Under Secretary for International Trade at the U.S. Department of Commerce 2005-2007. In that capacity, Lavin served as lead trade negotiator for both China and India and was the senior policy official in the Department responsible for commercial policy, export promotion, and trade negotiations across the globe. Lavin was U.S. Ambassador to the Republic of Singapore from 2001-05, where his duties included helping negotiate the U.S.-Singapore Free Trade Agreement.

In the private sector, Lavin served in senior finance and management positions in Hong Kong and Singapore with Edelman, Bank of America and Citibank.

Previously, Lavin served in the George H.W. Bush and Reagan Administrations, working in the Department of Commerce, Department of State, National Security Council, and White House. Lavin served as Director of the White House Office of Political Affairs 1987-89.

Lavin earned a B.S. from the School of Foreign Service (Georgetown); an M.S. in Chinese Language and History (Georgetown); an M.A. in International Relations and International Economics from the School of Advanced International Studies (Johns Hopkins); and an M.B.A. in Finance at the Wharton School (Pennsylvania).He is a columnist for Forbes.com and has been published in The New York Times, The Washington Post, The Wall Street Journal, Foreign Affairs, Foreign Policy, and other periodicals.

Lavin is the co-author of “Export Now,” (Wiley) on market entry strategies. He also authored a World War II history book, “Home Front to Battlefront” (Ohio University Press).

Lavin serves as Chairman of the International Council of the National University of Singapore School of Medicine, and serves on the Board of Directors of UOB, a Singapore-based regional bank, and on the Board of Directors of Accuron MedTech, a medical technologies company. He is a Fellow of the Singapore Institute of Directors. Lavin previously served as Steering Committee Chairman of the Shanghai 2010 World Expo USA Pavilion. Lavin served as a Lt Commander in the U.S. Naval Reserves.

UBS Speakers

Mark Haefele

Global Chief Investment Officer, UBS Global Wealth Management

Mark Haefele is the Global Chief Investment Officer UBS Global Wealth Management and is the chair of the UBS Global Investment Committee. He oversees investment policy and strategy for approximately USD 2trn in invested assets. He joined UBS as Head of Investment, CIO WM, when the CIO office was founded in 2011. Before that he was the cofounder and co-fund manager at Sonic Capital. He also served as a Managing Director at Matrix Capital Management.

A former lecturer and acting dean at Harvard University, Mark is a frequent contributor to numerous financial media, including CNBC, Bloomberg, and the WSJ. He serves on the Foundation Board of the Pension Fund of UBS. After receiving his BA from Princeton, he earned both an MA and PhD from Harvard University. As a Fulbright Scholar, he also received an MA from the Australian National University.

Min Lan Tan

Head APAC Investment Office, Chief Investment Office Wealth Management, UBS Global Wealth Management

Tan Min Lan is the Head of the Asia Pacific Investment Office at UBS Global Wealth Management Chief Investment Office, since July 2013. She serves as a member of the Global Investment Committee, Emerging Market Investment Committee and Asia Investment Committee, which formulate the regional and global UBS House View.

Prior to joining UBS Global Wealth Management, Min Lan spent eleven years with the UBS Investment Bank where she held a number of senior appointments, and was ranked the number 1 analyst in Singapore by Asiamoney for ten straight years. Before joining UBS, Min Lan worked as a senior economist with the Econometric Modelling unit at the Monetary Authority of Singapore, as well as an economist and strategist at Merrill Lynch covering the Asian equities markets.

Adrian Zuercher

Managing Director
Head Asset Allocation APAC, UBS Global Wealth Management Chief Investment Office

Adrian Zuercher is Managing Director and Head Asset Allocation APAC at UBS Chief Investment Office WM in Hong Kong. In his role, he is responsible for the Asian asset allocation strategy for both advisory and discretionary mandates. He chairs the Asia Investment Committee and serves as a member of the Emerging Market Investment Committee which formulates the global UBS House View.

Before joining UBS, Adrian was head of emerging market strategy and global asset allocation strategist at Credit Suisse Asset Management in Hong Kong. Prior to that, he was a fund manager in charge of Asia at VP Bank Asset Management, and a portfolio manager at F. van Lanschot Bankiers. Adrian holds a master's degree in finance and economics from the University of Bern and is a Chartered Financial Analyst.

Bin Shi, CFA

Head of China Equities
Managing Director

Bin Shi is a member of the Global Emerging Market and Asia Pacific Equities team, located in Hong Kong. He is Country Analyst and Portfolio Manager for China with a focus on Chinese stocks listed on both the overseas and domestic Chinese stock exchanges.

Prior to joining UBS Asset Management, Bin spent three years as Head of Int’l Business, portfolio manager and analyst with Boshi Fund Management Co., one of the largest domestic mutual fund companies in China. Prior to that, he worked in the US for eight years as portfolio manager and analyst for several US mutual fund firms.

Bin joined UBS in January 2006 and has managed the Greater China Fund since April 2006.

Guest speakers

Matthew Lovatt

Director, Framlington Equities
Member of Framlington Equities Management Team AXA Investment Managers

Matthew is Director of Framlington Equities and member of the Management team. He is also responsible for all new business activities and manages the Product Specialist team covering a global client base. Most recently he has led the development of the thematic product range at Framlington Equities.

Matthew has 30 years investment experience in the asset management industry. Prior to joining AXA IM in 2004, he was Chief Executive of Quaestor Investment Management and previously for Henderson (1987 to 1994) where he was responsible for establishing a quantitative research capability.

Matthew has a BSc (Hons) in Economics with Statistics from Bristol University in 1985.

Andrew Look

Chief Investment Officer (Asset Management Business), Tou Rong Chang Fu Group Limited

Mr. Look holds a bachelor of commerce degree from the University of Toronto and has over 25 years’ experience in the equity investment analysis of Hong Kong and China stock markets.

From 2000 to 2008, Mr. Look served in Union Bank of Switzerland (“UBS”) as the head of Hong Kong research, strategy and product. He was rated as the best Hong Kong strategist and best analyst by the Asiamoney magazine, a leading monthly financial and capital markets publication for corporate and finance readers and investors, in 2001, 2002, 2003, 2005, 2006 and 2007.

Shih Wing Ching

Shih Wing Ching was born in Shanghai and brought up in Hong Kong. In 1978, Mr. Shih established Centaline Property Agency Limited, which has now evolved as one of the largest property agencies in the country, employing more than 60,000 staff and involving in a great variety of businesses including property agency, surveying and valuation, wealth management, information technology development on property data.

In 2005, Mr. Shih launched the free newspaper, am730 and is now a columnist giving comments on current issues of the world, sharing insights as an entrepreneur and even life experiences. Mr. Shih also hosts radio programs and frequently delivers speech in tertiary institutions on all sorts of topics about philosophy, economics, management, and even natural science. As Mr. Shih has diversified interests and his analysis is always based on a macroscopic view, he has become one of the most popular commentators in the Hong Kong community.

With keen enthusiasm for the society's development, Mr. Shih participates in various community services and charity works. He was the Member of Task Force on Economic Challenges and the Member of Commission on Strategic Development.

Ryan Caldwell

Ryan Caldwell is Co-Founder and Chief Investment Officer of Chiron Investment Management.

From 2000 through the end of his tenure as co-portfolio manager in 2014, he helped lead portfolio management decision-making at Waddell & Reed for a suite of funds with AUM totaling US$45 billion, including Ivy Asset Strategy, W&R Asset Strategy, and Ivy Funds/VIP. In 2009, Mr. Caldwell was named to Institutional Investor’s list of “Rising Stars of Mutual Funds”, and in 2007 was a finalist for “Morningstar Manager of the Year”.

Bradley H. Meyers

Managing Director, Hedge Funds Strategies, GCM Grosvenor

Mr. Meyers is a member of the Hedge Fund Strategies Investment Committee, Head of Hedge Fund Strategies Portfolio Management and serves on the Global Investment Council. Mr. Meyers is also a member of the Hedge Fund Strategies Seeding and Special Opportunities Investment Committees.

Mr. Meyers is responsible for overseeing the portfolio management process and approves portfolio allocations prior to implementation. Prior to assuming his role as Head of Portfolio Management, Mr. Meyers was a Vice President on the Hedge Fund Strategies Research Team with a focus on credit and arbitrage strategies. Prior to joining GCM Grosvenor, he worked as a Financial Analyst for Merrill Lynch in the Mergers & Acquisitions Group. Prior to Merrill Lynch, he worked as an Associate for PricewaterhouseCoopers, LLP. Mr. Meyers received his Bachelor of Science in Accountancy from the University of Illinois at Urbana-Champaign in 1997 and his Master of Business Administration from the University of Chicago Booth School of Business, with a concentration in Finance, in 2003. Mr. Meyers is a Certified Public Accountant.

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