Conference highlights

Managers and experts from across BNY Mellon offer their thoughts on where change will lead us over the next 24-month time horizon.

Future 24: the world in 2021

A digital report from the first BNY Mellon IM in-house analyst survey – with 52 analysts from Newton, Mellon & Walter Scott participating. (Global ex US complied)

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Boardroom session information

Speaker/Fund Topic Boutique Download presentation Article
1 Abbe Franchot Borok
Commercial Real Estate
The shopping evolution
As online shopping further reduces retail presences on the high street, the headlines warn of a 'retail apocalypse'. However, while some malls have faced difficulties, many retail properties have continued to perform successfully. Retail is not dead, rather it is being reborn with new models to address changing demographic and technological trends. Abbe Franchot Borok at Amherst outlines the proprietary research it undertakes to understand the fault lines between success and failure within US commercial real estate.

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2 Graham Rainbow and Cathy Bevan
Floating Rate Credit
Pitfalls in 2021
The next two years will see a continuation in the rise of populism, economic policy normalisation, technological disruption and subsequently, volatility. While the fast-paced cadence of new themes, trends and products can be exciting, avoiding the most troubled sectors (and the problem credits within them) is key. Graham Rainbow and Cathy Bevan, managers on Alcentra's Floating Rate Credit strategy, highlight some potential casualties of these developments and map a course through credit market volatility.

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3 Uli Gerhard
Global Short-Dated High Yield
Swimming against the tide
A shrinking, smaller high yield universe is likely to offset the renewed volatility, unsustainable business models and disruptive markets investors will increasingly face. The divergence/convergence between US and Europe is also significant over the next two years, so how will political dynamics play in high yield? Insight's short-dated high yield manager, Uli Gerhard, will discuss the importance of stock picking against a backdrop of wider issuer performance dispersion and uncertain market forces.

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4 April LaRusse
Absolute Insight Credit
Gathering storm
Imagine the world in 2021: the high yield market is smaller, the investment grade market is bigger (as is the percentage of this universe that is BBB-rated) and the global economy is growing more slowly. Against this backdrop, markets and sectors will have changed in composition and may also have taken on more risk. Insight's head of fixed income investment specialists, April LaRusse discusses how investors need more tools at their disposal to face the challenges of the not-too-distant future.

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5 Jim Lydotes
Global Infrastructure
The greying of the world
While the population of the world is getting older and slowing down, technology aimed at improving the quality of life is getting faster, cheaper and smaller. It is also more readily deployed both at home and within new types of care facilities. Global infrastructure manager at Mellon, Jim Lydotes, looks at the convergence of 5G and rising baby boomer needs and how infrastructure assets can benefit from both trends.

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6 George Saffaye
Thematic Investing
Hype v reality
In the world of 2021 mass market EVs may be a reality and ubiquitous but will battery research be any closer the ultimate and essential goal of solid state? And in the drive for such goals what other new developments will the world's R&D departments have discovered? Just as Amazon now pervades almost all market sectors, the interconnectivity of sectors and themes is becoming universal. Investment strategist George Saffaye outlines Mellon's approach to themes, such as mobility, and how they are set to dominate markets and our lives.

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7 Claire Corry
Custom Beta - High Yield Bond & Dynamic US Equity
The quantum of investing
Over the next two years the rapidity of change will see the focus on leverage intensify, as trading gets sharper and artificial intelligence becomes more embedded into investment decision-making. As a consequence, the imperative to understand the underlying narratives informing market behaviour becomes ever more pressing. Claire Corry of the US high yield beta team at Mellon asks: can smart beta or dynamic allocation strategies provide a low-cost solution to a faster, more complex world?

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8 Paul Brain and Scott Freedman
Global Dynamic Bond
Chain of events
Rising populism, heightened geopolitical risk and growing environmental concerns will be key fixed income influencers in the next two years. Greater political disruption will lead to increased budget deficits and greater government issuance. Meanwhile with sustainability higher on investors' agenda, faster implementation of ESG principles will create a greater dispersion between the strong and the weak. Paul Brain and Scott Freedman, managers of Newton's Global Dynamic Bond and Sustainable Global Dynamic Bond strategies, discuss the future state of government bond allocations and what sustainability, and the subsequent cost of capital on companies, means for fixed income investors.

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9 Nick Clay
Global Income & Sustainability
Standing close to 'the edge'
Faster connections are needed as the world moves from the 'cloud' to the 'edge' – where technologies need speed to connect to each other directly. Global income manager Nick Clay outlines how an income mandate can play a technology theme - how today's mature tech is increasingly dealing with the demands of a faster, smarter future.

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10 Paul Flood
Global Multi-Asset
Here comes the sun
The speed of change in the renewable energy sector is picking up and by 2021 for some countries, scale may be such that government subsidies are withdrawn. As solar becomes viable without government support, will the current stability in returns be affected? What knock-on opportunities could arise in energy storage? Newton multi-asset income manager Paul Flood explores how this can affect both alternative and equity holdings.

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11 Jonathan McMullan and Stephen Rowntree
Analyst in the Afternoon
Honey, I shrunk the...
The world of technology and healthcare is all about items getting smaller – devices – while R&D and production gets faster but is anything getting cheaper? In two sectors that depend on pinpoint accuracy the question is also – are things getting too small, too fast? Newton analysts Fati Naraghi and Stephen Rowntree discuss the rapid developments in their worlds and what it means for investment opportunities.



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12 Lindsay Scott
Long Term Global Equity / Global Leaders
Long Term Global Equity / Global Leaders
Technological innovation is radically transforming R&D across multiple industry sectors. Digitisation is a game-changer at the beauty counter while AI plays a fundamental role in healthcare research and over the next two years, will become ever more embedded. Walter Scott's investment manager Lindsay Scott explores how long-term investors focused on quality can find opportunity in a fast-moving world.

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13 Shamik Dhar
Economic Update View article
14 Adrian Grey
CIO
Italy, Brexit and China: Three key themes for the next 24 months
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15 Sinead Colton
Head of Investment Strategy
Why innovation is key to understanding market trends
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16 Curt Custard
CIO
Why disruption and displacement are here to stay
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16 Geoff Spiteri DUSE: The best-kept 29-year secret in the business?
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Mellon was formed on 31 January 2018, through the merger of The Boston Company and Standish into Mellon Capital. Effective 2 January 2019, the combined firm was renamed Mellon Investments Corporation.