2011 Leadership in Fixed Income

2011 Leadership in Fixed Income (New York)

Thursday, February 24, 2011
New York, NY

Meeting Overview

Perspectives By:

Peter De Boer
Executive Managing Director, Head of Risk Products
Standard & Poor's Valuation and Risk Strategies

Harry Chopra
Managing Director, Global Client Service and Sales Operations
Standard & Poor's Valuation and Risk Strategies

Robert Keiser
Senior Director, Research Strategy & Innovation
Standard & Poor's Valuation and Risk Strategies

David Bowen
Portfolio Manager
Muzinich & Co.

Peter Carey
Managing Director
SkyBridge Capital

Thomas Donahoe
Global Chief Risk Officer
Aladdin Capital Holdings LLC

Dan Fuss
Vice Chairman, Managing Partner & Portfolio Manager
Loomis, Sayles & Company LP

Michael Goldstein
Co Head - Global High Yield and Bank Loans
Goldman Sachs Asset Management

Greg Hopper
Head of High Yield Strategy
Artio Global Management LLC

Imran Hussain
Managing Director, Head of Emerging Markets Debt
BlackRock Advisors, LLC

Lorrie Landis
Managing Director
Tulane University Investment Office

Maryam Muessel
Chief Investment Officer, Global Credit
BNP Paribas Investment Partners

Jeffrey Phlegar
President - Special Opportunities & Advisory Services
AllianceBernstein LP

Tad Rivelle
Group Managing Director, Chief Investment Officer - Fixed Income
The TCW Group

Wesley Sparks
Head of U.S. Fixed Income, Fund Manager, Schroder ISF Global High Yield
Schroder Investment Management N.A.

Todd J. Youngberg, CFA
Global Investment Director - Fixed Income, Head of High Yield Investments
Aviva Investors

Summary:

Activity in the fixed income markets in 2010 has picked up significantly across the full range of credits. With rates on short-term U.S. Treasuries hovering close to zero, many investors have put their fears behind and are looking farther afield in order to achieve higher returns. Credit markets have thawed and demand for high yield credit has surged.

As a result, the yield on non-investment grade bonds has declined since last year. New corporate debt issuance has continued its record pace, particularly among speculative borrowers who have refinanced existing bonds and loans. High grade corporate borrowers also have come to market to take advantage of historically low rates.

Themes for the meeting include but are not limited to:

What is the likely scenario for 2011: inflation or deflation?
What effect will this have on the fixed income markets in the coming year?
Will investors continue to chase yield, or be forced to look more closely at the underlying fundamentals and make decisions based on risk vs. absolute return?
How well will investors be compensated through yield, for the embedded market and credit risks?

The Leadership in Fixed Income meeting will bring together a select list of senior fixed income investment professionals who cover both the investment and non-investment grade securities markets.

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