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Perspectives on the Value Premium

Fully Booked
When
  • Wednesday 19 February 2020
  • 10:30 - 14:00
Where
  • The Square Hotel
  • Via Alberico Albricci, 2/4
  • 20122 - Milan
Credits
  • Eligible for 1.5 credits

Over long periods of time the value premium has been positive; in recent years, however, it has been negative. This has prompted some investors to wonder if this extended period of underperformance may be cause for concern.

To discuss this important topic, joining us will be Philipp Meyer-Brauns, Phd, Senior Researcher and Vice President at Dimensional.

During the conference, we will cover the following questions leveraging on our Research-Based scientific approach:

  • Can we explain the recent performance of the value premium and has anything changed to reduce confidence in the premium returning?
  • Are prolonged periods of underperformance in the value premium that unusual?
  • Is now a good time to allocate to value?
Agenda
10:30 Registration & Welcome Coffee
11:00 Welcome and Introduction Sonia Selmi, Regional Director, Dimensional Fund Advisors

Sonia Selmi

Regional Director, Dimensional Fund Advisors

Sonia Selmi is a Regional Director in Dimensional’s Global Client Group. Working from the firm’s London office, Sonia is responsible for managing current client relationships and developing new ones across the Southern Europe region, covering both the institutional and distribution market. Sonia joined Dimensional in 2017, having previously worked as a Vice President at Natixis Global Asset Management, covering the wholesale distribution market in Italy. She holds a master in management from SKEMA Business School, Lille and Paris.

Matteo Riccardi, CFA, CIPM, CAIA, FRM, Board Member, CFA Society Italy

Matteo Riccardi

CFA, CIPM, CAIA, FRM, Board Member, CFA Society Italy

Matteo Riccardi is member of the Board of CFA Society Italy since 2011 and Vice-President since 2017. He is Chief Investment Officer for the Italian Insurance Group Bipiemme Vita (part of the French Group Covéa) since 2017. He approached the insurance investment management sector in 2004, joining the Italian Business Unit of Zurich Insurance Group, where he worked for 13 years, serving as Chief Investment Officer for Italy from 2014 to 2017 and, before that, as Head of Securities Investment and ALM senior analyst. Prior to this experience, he worked in the Risk Management Department of Eptafund Sgr (now part of Eurizon Capital) in Milan and in Dublin for three years. Matteo graduated from Bocconi University in Finance and Financial Management Services in 1999, he is CFA Charterholder since 2004 and he has also achieved the CIPM, CAIA and FRM designations.

11:15 Perspectives on the Value Premium Philipp Meyer-Brauns, PhD, Senior Researcher and Vice President, Dimensional Fund Advisors

Philipp Meyer-Brauns

PhD, Senior Researcher and Vice President, Dimensional Fund Advisors

Philipp Meyer-Brauns is a Senior Researcher and Vice President in Dimensional’s Austin office, where he conducts empirical asset pricing research. Philipp holds a PhD in economics from Free University Berlin in cooperation with Max Planck Society. In addition, he has a BSc in mathematics and economics and a MSc in econometrics and mathematical economics from the London School of Economics and Political Science.

12:00 Round table with the contribution of two Italian markets practitioners Moderator, Matteo Riccardi, CFA, CIPM, CAIA, FRM, Board Member, CFA Society Italy

Matteo Riccardi

CFA, CIPM, CAIA, FRM, Board Member, CFA Society Italy

Matteo Riccardi is member of the Board of CFA Society Italy since 2011 and Vice-President since 2017. He is Chief Investment Officer for the Italian Insurance Group Bipiemme Vita (part of the French Group Covéa) since 2017. He approached the insurance investment management sector in 2004, joining the Italian Business Unit of Zurich Insurance Group, where he worked for 13 years, serving as Chief Investment Officer for Italy from 2014 to 2017 and, before that, as Head of Securities Investment and ALM senior analyst. Prior to this experience, he worked in the Risk Management Department of Eptafund Sgr (now part of Eurizon Capital) in Milan and in Dublin for three years. Matteo graduated from Bocconi University in Finance and Financial Management Services in 1999, he is CFA Charterholder since 2004 and he has also achieved the CIPM, CAIA and FRM designations.

Luca Forlani, CFA, Investment Strategist & Portfolio Manager, Eurizon

Luca Forlani

CFA, Investment Strategist & Portfolio Manager, Eurizon

After the Degree in Economics, Luca started his career in 1994 as Europe Equity Portfolio Manager. Earned the CFA charter in 1998. Subsequently Head of Global Equity supervising international equity portfolio managers and analysts. Since 2012 Investment Strategist & Portfolio Manager at Eurizon Capital SGR. Co-manage a multi asset flexible fund. He elaborates global macro, cross asset scenarios for strategic and tactical asset allocation based on a data-driven “top down” process with special focus on monetary policies and financial conditions.

Dennis Montagna, CFA - Director, Prop Desk and Capital Structure Trading, Banca IMI

Dennis Montagna

CFA - Director, Prop Desk and Capital Structure Trading, Banca IMI

Dennis Montagna, CFA, works at Banca IMI as director of Prop Desk and Capital Structure Trading. Previously he worked as Portfolio manager for important Italian Sgr from 1998 to 2013 in different positions. At the beginning he was assistant focusing on quantitative analysis and then portfolio manager for Government and Credit Bond Portfolios. In 2003 he moved in equity team for Italian Equity products, with direct responsibility for some funds. Then he pursed his career as portfolio manager in equity international funds, both mutual and pensions. In 2014 he joined Banca IMI for prop desk, managing Long/Short Equity portfolio. In June 2016 he was in Credit Suisse Asset Management as Equity Portfolio Manager for Institutional Clients portfolios and Italian Equities Manager for mutual funds. He is Adjunct Professor for course “Models and Methods for financial engineering” at University of Pavia, Faculty of Economics, department of Finance and supervisor for several graduate Thesis in Finance, based on Alpha generation, Volatilities strategies and Portfolio selections and construction. He’s graduate at Politecnico di Milano in Electronic Engineering.

Philipp Meyer-Brauns, PhD, Senior Researcher and Vice President, Dimensional Fund Advisors

Philipp Meyer-Brauns

PhD, Senior Researcher and Vice President, Dimensional Fund Advisors

Philipp Meyer-Brauns is a Senior Researcher and Vice President in Dimensional’s Austin office, where he conducts empirical asset pricing research. Philipp holds a PhD in economics from Free University Berlin in cooperation with Max Planck Society. In addition, he has a BSc in mathematics and economics and a MSc in econometrics and mathematical economics from the London School of Economics and Political Science.

12:45 Closing Remarks and Q&A
13:10 Buffet Lunch