Financial Markets: Increasing Complexity, Maintaining Stability

3–5 July 2019, ST. PETERSBURG


Programme


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4 July

11:50–13:00

Presidential Library,
Conference hall 1 (first floor)
Collective Investments: Main Challenges and Areas of Growth Session 4.1: The Investment Fund Market: A Reset This session will review the current state of and main trends in the development of the retail mutual investment fund market, new services and prod...
This session will review the current state of and main trends in the development of the retail mutual investment fund market, new services and products, and digital distribution of investment shares.
Specifically, investors’ requests for retail funds will be discussed, as well as competition between passive and active strategies of mutual fund portfolio management.
There will be a particular focus on Russian counterparts to exchange-traded funds.
Moderator
Vladimir Potapov, CEO, VTB Capital Investments; Senior Vice President, VTB Bank
Speakers
Irina Krivosheeva, CEO, Alfa-Capital Management Company
Steffen Scheuble, CEO, Solactive German Index Engineering
Alexey Timofeev, President, Russian National Association of Securities Market Participants (NAUFOR)
Oleg Yankelev, CEO, FinEx Plus Asset Management; Senior Partner, FinEx Capital Management LLP
Dinara Yunusova, CEO,Banki.ru

14:30–15:40

Presidential Library,
Conference hall 1 (first floor)
Collective Investments: Main Challenges and Areas of Growth Session 4.2: Private Pension Funds: Expanding Investment Opportunities vs Managing Risk – Earn or Save? This session will focus on the main areas of development in investment processes for private pension funds.Discussions will cover the new legal req...
This session will focus on the main areas of development in investment processes for private pension funds.
Discussions will cover the new legal requirements for financial instruments in private pension fund portfolios, including new types of assets, ratings, and exchange transactions.
Particular attention will be paid to long-term investments, currency instruments, and foreign securities.
Leading market experts will share their opinions on the effects that stress testing, fiduciary responsibility,
and requirements for a return on pension funds have on funds’ investment policies.
Moderator
Sergey Belyakov, President, Association of Non-State Pension Funds; Chairman of the Presidium, The Retail Companies Association; Chairman of the Management Board, National Association of Investment and Development Agencies; Managing Director, InfraONE
Speakers
Arseniy Glazkov, Director, Head of Derivatives Market Department, Moscow Exchange
Kirill Pronin, Director, Collective Investments and Trust Management Department, Bank of Russia
Igor Zelezetsky, CEO, Analytical Credit Rating Agency (ACRA)
Andrey Zhurikhin, Director, Risk Management Department, NPF BUDUSHCHEYE

16:00–17:10

Presidential Library,
Conference hall 1 (first floor)
Collective Investments: Main Challenges and Areas of Growth Session 4.3: The Special Depository: Keeping in Step with the Times; What Does an Investor Pay for? This session will focus on the main areas of growth for specialised depositories, as well as the current technological infrastructure needs as dict...
This session will focus on the main areas of growth for specialised depositories, as well as the current technological infrastructure needs as dictated by the market.
Leading experts in the collective investment market will share their opinions on the new functions that specialised depositories may potentially provide, including outsourcing the functions of client services, such as the back office; possible settlements of client transactions and liabilities by specialised depositories; additional services for insurance companies; and serving other types of clients. The possibility of applying international practices of introducing custodians and fund administrators will also be discussed.
Additional topics will cover the rules of mutual fund trust management and regulatory barriers.
Are specialized depositaries willing to have the rules of trust management registered, and do investors need it? What is currently hindering the improvement of business efficiency and client confidence?
Moderator
Catherine Golub, Project Coordinator, Forum Analytical Centre
Speakers
Michael Boboshko, Head, NAIMA Hedge Fund Committee
Tatiana Esaulkova, General Director, SDK Garant
Jean-Pierre Gomez, Head of Regulatory & Public Affairs, Société Générale Securities Services in Luxembourg
Vladimir Kirillov, CEO, TKB Investment Partners
Pavel Prass, Managing Director, INFINITUM Asset Services

17:30–18:40

Presidential Library,
Conference hall 1 (first floor)
Collective Investments: Main Challenges and Areas of Growth Session 4.4: Private Pension Funds: Competition and Factors Hindering Business Development This session will examine various manifestations of competition in the private pension fund market.Discussions will focus on competition between PP...
This session will examine various manifestations of competition in the private pension fund market.
Discussions will focus on competition between PPFs of different sizes, including those with and without government participation, and the consequences of unfair competition, particularly as a result of actions by a fund’s agents. This will also provide an opportunity to assess the prospects for small private pension funds.
Speakers will review how PPFs compete for investors’ money with other financial market participants, such as insurers, banks, and professional market players. Special attention will be paid to enhancing confidence in PPFs through, for example, the pension guarantee system (compulsory pension insurance and, at a later stage, non-state pension schemes), and the financial recovery mechanism for PPFs.
The competitive advantage of asset management companies over private pension funds will also be examined, as limitations on managing pension investment portfolios are being removed.
Moderator
Yury Voronin, Chief Financial Commissioner for Consumer Rights, Financial Ombudsman Administration
Speakers
Sergey Belyakov, President, Association of Non-State Pension Funds; Chairman of the Presidium, The Retail Companies Association; Chairman of the Management Board, National Association of Investment and Development Agencies; Managing Director, InfraONE
Vladimir Chistyukhin, Deputy Governor, Bank of Russia
Viktor Kitaev, President, Atomgarant Private Pension Fund
Galina Morozova, Deputy General Director, REGION Investment Company
Olga Sergeeva, Head, Financial Markets Control Department, Federal Antimonopoly Service (FAS Russia)
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5 July

11:50–13:00

Presidential Library,
Conference hall 1 (first floor)
Collective Investments: Main Challenges and Areas of Growth Session 4.5: Growth of Non-State Pensions This session will cover key areas for developing the non-state pension provider network.The proposal to introduce a system of guaranteeing pension ...
This session will cover key areas for developing the non-state pension provider network.
The proposal to introduce a system of guaranteeing pension reserves for non-state pension providers will come into focus.
In addition, leading market experts will share their views on ways to expand the investment opportunities of private pension funds, and look at ways of introducing new requirements related to investing pension reserves.
Special attention will be paid to the need to increase the transparency of private pension fund operations, and the implementation of new information disclosure requirements.
Moderator
Konstantin Ugryumov, President, National Association of Non-Governmental Pension Funds
Speakers
Larisa Gorchakovskaya, General Director, VTB Pension Fund
Anatoly Milyukov, General Director, BLAGOSOSTOYANIE Pension Fund
Dmitry Scrivanov, Deputy, State Duma of the Federal Assembly of the Russian Federation
Anton Shpilev, First Deputy General Director, NPF GAZFOND Pensionnyye Nakolpeniya
Yury Voronin, Chief Financial Commissioner for Consumer Rights, Financial Ombudsman Administration

14:30–15:40

Presidential Library,
Conference hall 1 (first floor)
Collective Investments: Main Challenges and Areas of Growth Session 4.6: Risk-Management Tools in Collective Investments: The Abilities of Managers and Expectations of Investors This session will examine client preferences in the closed-end fund segment of the collective investment market, and how these preferences have cha...
This session will examine client preferences in the closed-end fund segment of the collective investment market, and how these preferences have changed since 2014.
Leading market experts will share their views on the extent to which investors are prepared for risky strategies in closed-end mutual funds.
Participants will also review additional options outlined in the law on investment funds which allow funds to act as universal platforms for project financing.
Special attention will be paid to closed-end investment funds as tools for retail investors, and what these funds can offer for development projects.
Moderator
Vadim Khrapun, Partner, PwC Consulting
Speakers
Vitaly Balanovich, Managing Partner, TRINFICO Investment Group
Ekaterina Chernykh, Deputy CEO, Managing Director, Sberbank Asset Management
Edward Golosov, Head, BCS Capital, Board Member, Deputy President – Chairman of the Board for Investment and Insurance Business, FG BCS
Evgeny Postnikov, Head of Real Estate and Structured Funds Department, VTB Capital Investment Management