China from Inside and Outside
China is an important and rapidly changing market. Please join us for a discussion of the opportunities and challenges an investor should understand. Each panel will include practitioners from both the US and China, who can speak directly about their own outcomes. We will focus especially on what an investment in China might mean, from your own perspective.
7:30am - 8:00am - Continental Breakfast
8:00am - 8:45am - The Chinese Economic, Monetary and Banking Situation
Moderator:Constance Everson, CFA, Managing Director, Capital Markets Outlook Group, Inc.
Tom Quarmby, Equity Research Analyst, Fidelity Investments
Qian Wang, Vice President, Financial Markets Division and General Manager, Sales and Trading, Bank of Qingdao
8:45am - 9:30am - China in a Global Asset Allocation Framework
Moderator: Bruce Myers, CFA, Managing Director, Cambridge Associates
Sara Gao, Managing Director, Value Connect Capital
Deborah Kuenstner, CFA, Chief Investment Officer, Wellesley College
9:30am - 10:00am - BREAK
10:00am - 10:45am - Investing in Chinese Equities
Moderator: George Hoguet, CFA, Chesham Investments, LLC
Bin Shi, Ph.D, CFA, Senior Vice President, Portfolio Manager, and Quantitative Research Analyst, Acadian Asset Management
Courtney Wei, CFA, Portfolio Manager, Executive Director, China AMC (HK)
10:45am - 11:30am - What is the next Alibaba? A Focus on Chinese Tech Shares
Moderator: Zu Cowperthwaite, CFA, Senior VP and Portfolio Manager of Asia Pac Investments, Harvard Management Company
Brian Chen, CFA, Partner and Portfolio Manager, Clough Capital
Michael Kwon, Partner, Graticule Asset Management Asia
Bill Li, CFA, is the Investment Officer for Hedge Funds and Low Volatility Strategies at PRIM, the USD 64 billion Massachusetts public pension plan. Prior to this, he was a senior quantitative researcher at Costar Portfolio Strategy in Boston and a portfolio analyst at Allianz SE in Frankfurt, Germany. Bill graduated from Brandeis University with a Master's Degree in Economics and Finance and holds the CFA charter.
Pamela Yang, CFA, is Senior Vice President of Operations & Investments in the Trust & Gifts group with Harvard Management Company, which manages Harvard University's charitable assets. Prior to joining HMC, she was with PricewaterhouseCoopers as a senior associate in the business assurance unit, focusing on financial services industry. Ms. Yang is a Certified Public Accountant and a CFA Charterholder. She obtained joint degrees of MBA/MS in Accounting from Northeastern University and holds an MA in French Literature from University of Cincinnati.She joined CFA Society Boston's Board of Directors in 2010 and was actively involved in the Society's career development initiative. She is an active volunteer at the CFA Institute.
Constance Everson, CFA, Managing Director, Capital Markets Outlook Group, Inc.
George Hoguet, CFA, Chesham Investments, LLC
Meet the Panelists:
Brian Chen joined Clough Capital in 2010 and currently serves as Portfolio Manager for the Clough Asia Fund. Brian has over 20 years of Asia investment industry experience. Prior to joining the firm, Brian was an Analyst at Liberty Square Asset Management and Grosvenor Street Capital concentrating on public equities, and at ChinaVest, on the private equity side. He also has extensive Wall Street experience, working for Salomon Brothers, Credit Suisse First Boston, and ING- Barings. He has been investing in Asia since 1991, first in private equity and then in the public equity markets. Brian holds an MBA from Columbia Business School and a BA from Duke University. He also has held a Chartered Financial Analyst designation since 2000.
Constance Everson is Managing Director of Capital Markets Outlook Group, which provides macro strategy and economic research to institutional investors in 10 countries. She serves on the investment committee of Mass PRIM (Pension Reserves Investment Management) in Boston, and is a director of the Weredale Foundation in Montreal. She is an accredited speaker for the CFA Institute, and is a past-President of the Boston Economic Club.
Sara Gao is a partner in a consulting and capital introduction firm, bridging fund managers and institutional allocators. She manages a solid and diversified client base in China. She was previously a founding member and head of institutional relationships at CEBM Group, a leading independent research firm in China. Before CEBM, she was head of Beijing office of iPR Ogilvy Company, facilitating Chinese mainland firms' IPO on Hong Kong Stock Exchange. Sara earned an MBA from MIT, Master of Management from UIBE, and Bachelor of Finance from CUBE.
George Hoguet is a private investor and most recently was a Managing Director and Global Investment Strategist in the Investment Solutions Group at State Street Global Advisors. At SSgA he worked with large pools of capital on economic, strategic and investment policy issues and for several years headed the firm's active emerging markets strategy. Previous positions include pension fund consulting at the Frank Russell Company and portfolio management at Baring Asset Management. From 1981-1985 George served at the U.S. Treasury Department, first as U.S. Alternate Executive Director to the World Bank and, subsequently, as Principal Deputy Assistant Secretary of the Treasury for International Affairs. He is currently a Trustee of The Research Foundation of CFA Institute and on the Advisory Board of the Official Monetary and Financial Institutions Forum (OMFIF.)
Debby Kuenstner joined Wellesley College as Chief Investment Officer (CIO) in February 2009. Before joining Wellesley, she was CIO of Brandeis University. Debby had previously been managing director of research for Fidelity Management & Research and CIO of Putnam Investment's Value group. Her other roles include senior portfolio manager at DuPont Pension Fund Investment, international investment strategist at Merrill Lynch, and economist at the Federal Reserve Bank of New York. Debby received a bachelor of arts degree in economics summa cum laude from Wellesley College. She did graduate studies in statistics at the Columbia University Graduate School of Arts and Sciences in New York before earning her M.B.A. with Distinction from New York University.
Michael Kwon is a Managing Director and Equity Analyst covering the consumer, internet, and software sectors for Graticule Asset Management Asia. Prior to GAMA, Mr. Kwon was a Vice President and Equity Analyst at Fortress Investment Group. Prior to joining Fortress, Mr. Kwon was an Associate Director within UBS Investment Research. Mr. Kwon holds a BA in Political Science from Columbia University.
Tom Quarmby is a research analyst at Fidelity Institutional Asset Management®. In this role, Mr. Quarmby is responsible for equity research for Asia-Pacific financial institutions. Prior to joining Fidelity in 2013, Mr. Quarmby served as head of Asia Bank Research at Barclays Capital Hong Kong and as division director of Equity Research for Australian Banks at Macquarie Group in Sydney. Previously, he was head of Asia-Pacific Financial Institutions Research at Deutsche Bank, and held analyst roles at Salomon Smith Barney and at Colonial First State. He has been in the investments industry since 1997. Mr. Quarmby earned his bachelor of commerce degree in finance and accounting from the Australian National University.
Bin Shi joined Acadian Asset Management in 2006. Prior to Acadian, he worked as a statistician at Mathworks Inc. Bin has a PhD in Industrial and Systems Engineering and a MS in Operations Research from Georgia Institute of Technology. He also earned a BS in Mechanical Engineering from Southeast University in China.
Qian Wang works for Bank of Qingdao (3866.HK) in China as the General Manager of Sales and Trading Department and General Manager of Financial Markets Division Shanghai. She and her team manage $40 billion asset and covers proprietary investment, interbank trading and asset management for the bank, focusing mainly on fixed income, alternative investment, also partially on equity , FX and commodity. Before joining Bank of Qingdao, she worked with Global Securities Services trading desk doing portfolio management and hedging at Goldman Sachs in New York . She also worked with Prime Services at Credit Suisse in New York. Ms. Qian Wang graduated from Columbia University with a Master degree in Operations Research and Financial Engineering. She also holds a bachelor degree in Computer Science from Fudan University in Shanghai China.
Courtney Wei has over 13 years’ investment experience in Global Emerging Markets. Prior to joining ChinaAMC (HK), she worked as a senior portfolio manager at SAFE Investment Company Ltd. (the investment company for China’s Forex reserve) from 2011 to 2015, building the firm’s investment capabilities in Global Emerging Markets including BRIC. Previously from 2003 to 2011, as a portfolio manager, Ms. Wei managed USD 11 billion Global Emerging Market (GEM) portfolios and Asia x-Japan portfolios together with 4 other portfolio managers at Batterymarch Financial Management in Boston. She received a Master of Business Administration in Finance degree from Babson College in the US and a Bachelor of Science degree in Computer Science from Central South University in China. She also holds the CFA designation.