NEWPORT BEACH, Calif., Feb. 6, 2019 /PRNewswire/ -- Canterbury Consulting, an independent investment advisory firm overseeing approximately $20 billion for foundations, endowments and families, recently hosted its 2019 Investment Forum, Canterbury's annual client education event.
"Our 11th annual investment forum showcased a diverse array of leaders in the investment management industry, specialists in ESG investment principles and thought leaders at the intersection of politics and the capital markets," said Debashis Chowdhury, president of Canterbury Consulting.
Expert speakers included Joachim Fels, managing director and global economic advisor for PIMCO, who walked the audience through his firm's views on the outlook for economic growth and risks around the world, and addressed wide-ranging investment topics. "This long economic expansion has been aging gracefully and is notable for a lack of major imbalances that would suggest a recession is imminent," said Fels. "However, we are past peak growth and it doesn't take a recession to create turmoil in financial markets. Moreover, it may be the derating of financial assets – rather than traditional macroeconomic excesses – that lead to the next downturn."
The panel discussion on environmental, social, and governance (ESG) investing included Lisa Richter from Avivar Capital, Blaine Townsend from Baillard and Ophir Bruck from Principles for Responsible Investment. Panel participants engaged the audience on the myriad of approaches an investor can take to better align their portfolios with ESG principles. Panelists discussed the ways in which investment managers and consultants can better align themselves with the United Nations Principles for Responsible Investment (UNPRI), of which Canterbury Consulting is currently in the process of becoming a signatory.
Forum presenter Greg Valliere, chief political strategist of Horizon Investments and regular guest commentator on Fox News and CNN, shared his observations on the current political environment and its impact on global investment market.
"What a difference a year makes – last January the markets were bracing for several interest rate hikes from the Federal Reserve, but now it looks like the Fed will stay on the sidelines for months to come," said Valliere. "Despite the political chaos in Washington, there's another positive story in addition to the dovish Fed. A trade deal with China looks possible by late winter as Presidents Trump and Xi realize that a protracted dispute will benefit no one."
A presentation on behavioral finance provided sage advice from expert Raife Giovinazzo, Ph.D., CFA, partner and portfolio manager from Fuller & Thaler. Giovinazzo revealed there are patterns to how and when people make mistakes when making financial decisions. Understanding those patterns can help an investor minimize their own mistakes, and take advantage of opportunities when others are likely to make a mistake.
"Investors spend a tremendous amount of time analyzing the market, the economy and individual investments," said Giovinazzo. "One of the lessons of behavioral finance is that they should spend some of that time analyzing themselves and their own biases."
The forum concluded with a global markets panel populated by Ardra Belitz, managing director at Lazard Asset Management; Jack McIntyre, CFA, portfolio manager at Brandywine Global; and Steve Shapiro, partner at GoldenTree Asset Management. Panelists provided candid and insightful thinking on what investors might expect during 2019 and where the pockets of opportunity and risk may lie.
"Securities will eventually get to the right price based on intrinsic value; however, given increased illiquidity we often see in markets today, there can be a more volatile ride getting to fair value," said Shapiro. "This volatility often presents opportunities. Our team can buy at a discount to fair value because other investors or broker-dealers are looking to get out and if you have a view of underlying value, and understand liquidity dynamics, that can present attractive buying opportunities."
"We take pride in hosting the annual investment forum to create an environment in which our clients, trustees and asset owners alike can gain knowledge directly from industry thought leaders while also networking and collaborating with peers on common challenges," said Chowdhury.
About Canterbury Consulting
Canterbury Consulting is a leading investment advisory firm overseeing approximately $20 billion as of December 31, 2018, for foundations, endowments, healthcare institutions and families. Founded in 1988, the company designs and manages custom investment programs aligned with each client's goals. Canterbury acts as the investment office for its diverse clients and provides objective investment advice, asset allocation, manager selection, risk management, implementation, and performance measurement. Canterbury Consulting strives to deliver performance and service that exceeds the needs and expectations of its clients. Learn more about Canterbury Consulting at www.canterburyconsulting.com.
SOURCE Canterbury Consulting