Focus On Alternatives Series
Chicago

Advisors are rethinking traditional portfolio construction approaches and re-evaluating how to incorporate both alternative and private investments into diversified portfolios. In addition, asset managers are working hard to “democratize” non-traditional investments to make them more advisor-friendly.

This session will explore the evolution of portfolio construction and discuss how advisors might position non-traditional investment strategies into client portfolios.

Learning Objectives

• The argument for including alternative and private market investments in diversified portfolios

• Current trends in alternatives and the private markets

• Using a “multi-alpha” portfolio approach to illustrate the value of including alternative and private market strategies

Scott Welch

Partner & Chief Investment Officer, Certuity

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The wealth management industry is changing, and your business has become more complex. Clients are expecting more from you, highlighting the need to look beyond the traditional stock and bond portfolio to provide alternative sources of growth and income. This presents challenges beyond just the critical question of how to incorporate alternative investments into their portfolios; you must also think about how alternatives fit into your practice and the words to use when talking to clients.

Learning Objectives

• Why private markets—the challenges and opportunities

• Where to allocate—private markets for the long term and today

• Navigating a new vocabulary—how to decipher the different investment options

Kevin Sierra II

Head of Product Management, Wealth Channel, North America, Invesco Real Estate

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Danielle Singer

Head of Alternatives Strategy, Invesco

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In this session, we will discuss views on how alternative investments can be used to help mitigate portfolio volatility at a time of rising market volatility and increased correlation among asset classes. We will cover why traditional portfolio diversification strategies are becoming less effective, and how alternatives can help tackle the issue. Learn why not all alternatives are created equal, and traits that can be attractive when seeking exposure to alts, and the importance of factors—such as cash-flow generation and valuation—in private markets and how they can make alternative portfolios more resilient.

Learning Objectives

• Traditional portfolio diversification techniques are becoming less effective as correlations among asset classes heighten.

• Persistent upside risks to inflation and downside risks to growth point to continued market volatility in the remainder of 2024 and beyond.

• Investors are considering private assets to diversify portfolios and help manage volatility.

• Focusing on cash-flow generating assets at attractive valuations may maximize the volatility-dampening effect of an alternatives portfolio and enhance long-term risk-adjusted potential returns.

Diana Sands

Managing Director, Apollo Global Management

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We must only look up to behold yet another pitch for leadership training. Yet, we rarely witness effective leaders applying their craft. Why? Leadership training tends to focus on buzzwords and abstract theories but ignores the core aspect of leadership—values and character. A low-character person can obtain a PhD in management yet struggle to lead effectively. Few people want to be led by someone who talks eloquently about “strategic resource positioning” but who lacks courage, compassion, fairness, honesty, and loyalty. We need more “good” leaders!

Contrary to popular wisdom, Corey Ciocchetti believes values and character can be taught. For instance, where did you learn to lie or cheat? On the more virtuous end, where did you learn to be kind and thoughtful? From the influential people in your life, of course.

Corey’s speech on leadership begins with a critical question: Do you have the values and character to make you the type of leader that you would follow? If you resist being led by someone like yourself, then others will surely opt out. The rest of Corey’s powerful speech is devoted to the five character traits of an effective leader.

We have come to find out that no one is born a leader. This means that you and your people can learn to lead more effectively, without any buzzwords or theories! All it takes is the drive to become a more virtuous person. Ethical people become the best leaders.

Learning Objectives

• Identify qualities you admire in a leader

• Determine whether you have a duty to act

• Recognize what virtues you need to be a “good” leader

Corey Ciocchetti

Associate Professor of Business Ethics and Legal Studies, Daniels College of Business, University of Denver

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