The Investment Conference Morningstar India

Agenda for Morningstar Investment Conference 2012

November 1, 2012





Opening Remarks

Joe Mansueto, Founder & CEO, Morningstar, Inc.


Keynote Address

Rajeev Kumar Agarwal, Whole Time Member, Securities and Exchange Board of India (SEBI)



Taking Stock of the Global Economy

As the world gets flatter and economies get increasingly intertwined, what’s happening globally is more important to your portfolio today than it has ever been. The presentation will highlight key points such as:

  • Road ahead for advanced economies and developments since the global financial crisis
  • Is there a way out for the Eurozone crisis?
  • Emerging markets and their role in the global economy. How are the BRICS economies shaping up?
  • The U.S. dollar and its correlation with other asset classes
  • Power shift: Investing in a multi-polar economic world

Daniel Needham, Managing Director, Morningstar Investment Management Asia-Pacific


Panel Discussion

Global Investing: Looking Beyond India

Investing globally has never really been an Indian investor’s cup of tea. In this discussion, our panel of industry experts talks about the pros and cons of investing abroad, the essential role it plays in constructing a diversified portfolio and investment options available to investors. Here are a few pointers to the talk:

  • Is the average Indian investor’s aversion to invest globally justified?
  • What are the risks while investing globally?
  • What diversification benefits does global investing offer?
  • Are there enough opportunities for Indian investors to invest abroad?


A. Balasubramanian, Chief Executive Officer, Birla Sun Life Asset Management Company

Nimesh Shah, Managing Director & Chief Executive Officer, ICICI Prudential Asset Management Company Ltd.

S Nagnath, President & CIO, DSP Blackrock Investment Managers Pvt. Ltd.

Surjit S Bhalla, Chairman, Oxus Investment Pvt. Ltd.

Moderated By

Daniel Needham, Managing Director, Morningstar Investment Management Asia-Pacific


Tea/Coffee Break



Panel Discussion

Active or Passive? The Debate in the Indian Context

Passive management, or indexing, is not a much-fancied concept in our country where most investors expect fund managers to outperform their benchmark indexes. But often we also see fund underperformance in the industry. Which leads us to ask:

  • Is passive investing a worthwhile strategy in a market like India where active management is generally preferred?
  • Active versus passive: Does it have to be an either-or scenario or should index funds co-exist in your portfolio alongside actively-managed funds?
  • The scope for niche exposure and strategies via passive investing
  • As the market matures and chances of alpha reduce in the future, will passive strategies become popular?


Ashishkumar Chauhan, Interim Chief Executive Officer, BSE Ltd.

Rajiv Anand, Managing Director & Chief Executive Officer, Axis Asset Management Company Ltd.

Sandesh Kirkire, Chief Executive Officer, Kotak Asset Management Company Ltd.

Sanjiv Shah, Managing Director, & Co-Chief Executive Officer, Goldman Sachs Asset Management (India) Private Limited

Moderated By

Grant Kennaway, Head of Fund Research, Asia Pacific, Morningstar, Inc.



Where Insurance Fits (and Doesn’t) in Your Portfolio

An important step in long-term wealth creation is also wealth protection. Hear an industry veteran discuss the important role that insurance plays in one’s portfolio and outline:

  • The keys to picking the right insurance schemes; pitfalls to avoid
  • Insurance and investments: Can they go hand-in-hand?
  • How can advisors use insurance in their clients’ portfolios?

Tarun Chugh, Chief Distribution Officer, ICICI Pridential Life Insurance Company Ltd.


Lunch Break




Factors That Predict Fund Performance

Evaluating mutual funds has been at the heart of what Morningstar has been doing for decades globally. This presentation will touch upon:

  • Why is fund research important and how can it help investors take investment decisions?
  • What are the various approaches to fund research and which parameters can be most predictive of a fund’s future performance?
  • What is the Morningstar way of evaluating funds?
  • Morningstar’s history of fund research and how our picks have fared in various markets across the globe

Grant Kennaway, Head of Fund Research, Asia Pacific, Morningstar, Inc.


Panel Discussion

How to Build a Sound Mutual Fund Portfolio?

For many investors, constructing a mutual-fund portfolio is synonymous with buying the best-performing funds. But it may not be the most intelligent way to selecting mutual funds for your portfolio. The panel will discuss:

  • When does a fund make the grade to merit inclusion in the portfolio?
  • How many funds should you own: Is there a magic number?
  • Is there an ideal mix for your fund portfolio?
  • Ways to effectively diversify your portfolio


Grant Kennaway, Head of Fund Research, Asia Pacific, Morningstar, Inc.

Nilesh Shah, President, Axis Bank Ltd.

Shantanu Ambedkar, Managing Director & Head Private Bank, The HSBC Bank Ltd., India

Vikaas Sachdeva, Chief Executive Officer, Edelweiss Asset Management Limited (AMC)

Moderated By

Vicky Mehta, Senior Research Analyst, Morningstar India


Tea/Coffee Break



Panel Discussion

Debt Funds: Why Retail Investors Shouldn’t Ignore them and Outlook for 2013

Volatility for stocks has climbed in the past few years, making fixed-income funds generally a safer avenue for the risk-averse. However, retail participation in debt mutual funds still remains quite low. Listen to a panel of veteran bond fund managers talk about:

  • How to increase retail participation into debt mutual funds, and bring them to compete with traditional fixed income products like bank deposits, PPF and other small-savings schemes?
  • The view on the direction of interest rates in India, and which debt funds are more conducive for the environment.
  • The impact of the change in valuation norms on debt funds, and how the upcoming direct tax code will affect them?
  • Other possible innovations in the fixed-income space


Amitabh Mohanty, Head – Debt Strategy, Reliance Capital Ltd.

Kumaresh Ramakrishnan, Head – Fixed Income, Deutsche Asset Management (India) Pvt. Ltd.

Lakshmi Iyer, Head – Fixed Income & Products, Kotak Mahindra AMC Ltd.

Suyash Choudhary, Head - Fixed Income, IDFC Asset Management Company Ltd.

Moderated By

Dhruva Chatterji, Senior Research Analyst, Morningstar India



Strategies to Enhance Stock Portfolios: Economic Moats and Margin of Safety

Economic moats are a cornerstone of Morningstar’s equity research philosophy, which focuses on long-term investing in companies with established competitive advantages and generous free cash flows, trading at discounts to their intrinsic values.

  • The value of Economic moats to intrinsic valuation.
  • The role of Margin of Safety to control risk.
  • Combining the two for consistent outperformance

Joel Bloomer, Head of Equity Research, Asia Pacific, Morningstar, Inc.


Panel Discussion

Stock Markets in 2013: Outlook and Factors to Watch

Recent global turmoil combined with weakening domestic scenario has had an adverse impact on the Indian stock markets, which have proven to be less resilient than other emerging markets. Listen to our panel of influential money managers talk about where they see the Indian equity markets going:

  • How reasonable are valuations currently and which sectors look more attractive?
  • Outlook for Indian equities in the coming year and key factors that would drive markets
  • Reforms, regulation and what the government and the central bank can do to improve sentiment in the market


Kenneth Andrade, Group Director, IDFC Asset Management Company Ltd.

Prashant Jain, Executive Director & Chief Investment Officer, HDFC Asset Management Company Ltd.

Sankaran Naren, Chief Investment Officer - Equity, ICICI Prudential Asset Management Company Ltd.

Sunil Singhania, Head - Equity Investments, Reliance Capital Asset Management Ltd.

Moderated By

Joel Bloomer, Head of Equity Research, Asia Pacific, Morningstar, Inc.

18:30 onwards

Cocktails and Dinner



Click here to view agenda for Day 2.


Disclaimer: Speakers are subject to change without prior notice.

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