The diversification effect of sovereign bonds has changed, while traditional hedges like gold are less stable. What is taking their place and how are managers making the most out of other techniques to preserve capital in volatile markets? Join Suzanne Hutchins, manager of the BNY Mellon Real Return strategy as she outlines how the macro stance of recent years has fundamentally altered asset allocation relationships and why maybe that's not such bad news.

Paul Brain, manager of the BNY Mellon Global Dynamic Bond and BNY Mellon Sustainable Global Dynamic Bond funds, talks about the changes the past few years has wrought on fixed income markets and the end of cheap financing. And yet for flexible mandates, this bear market may be better than the NIRP environment of yesterday.

Disrupted by the pandemic and its ramifications, many decision makers extrapolated pandemic-induced behaviours as permanent fixtures, leaving them unprepared for the resumption of spending and increased demand. Walter Scott's Murdo MacLean discusses how the team behind the BNY Mellon Long Term Global Equity Fund have long preferred companies that have already learned such lessons. While businesses can't future proof against unforeseeable events, some are better prepared than others.

The world is adjusting to persistent inflation, an issue with which investors have not had to contend with for years. But keeping up with rising costs is likely to tax companies as well as investors. John Bailer, manager of the BNY Mellon US Equity Income Fund, highlights the challenges posed by the inflationary landscape and why companies that have the ability and willingness to grow dividends may find favour.

People obsess over the value of Bitcoin, and little wonder given the price of one now ranges around US$45,000*. But when cryptocurrencies collapsed last year, it reminded the market that blockchain is more than just currency. Robbie Henderson and Jonathan Piskorowski, will talk on the latest developments in the crypto market but also how it is no longer overshadowing the rest of the blockchain universe. With blockchain's wider uses cases shining through, this session will outline its applications in the real world.

*Source https://coinmarketcap.com/ as at 2 March 2022

Society and businesses are forever changed by the pandemic in ways that were not anticipated a year ago. Growth is fabulous, inflation is unnerving, geopolitics is scary, technology is further embedded in every aspect of life and sustainability goes mainstream. Insight's April LaRusse talks about how sustainable bond portfolios are managed in volatile markets.

With rising inflation and tightening monetary policies, can companies survive as funding costs rise; can they continue to service their debt? With defaults still low, so far it appears, yes. But can it remain this way or is greater selectivity needed to avoid toxic issuance? Here Insight's Ulrich Gerhard and Cathy Braganza, managers of BNY Mellon Global Short-Dated High Yield Bond, discuss the qualities they see in the companies that can survive a volatile climate. Life may be too short but the same may not be said in the world of fixed income.

Whether the market cycle favours value or growth is not as straightforward as it once was. Broader factors, arising from unprecedented monetary policy and a global pandemic, are warping perceptions. Ilga Haubelt, manager of BNY Mellon Global Equity Income Fund, talks about a focus on fundamentals such as cashflows, as dividends bounce back from the crisis and resume their dominance in bolstering total returns.

Technology companies have boosted Asian markets in recent years but as they face increased regulation, companies like China's largest tech players - Alibaba, Tencent and Meituan (ATM), may not be paying out for a while. As income comes to the fore, Zoe Kan, manager of the BNY Mellon Asian Equity Income Fund, outlines the impetus in Asia towards shareholder value amid Asia's ongoing economic recovery.

The past two years have been a wake-up call for society with respect to environmental and social challenges. We have all seen the impact our way of life has wrought on the climate, and how Covid has highlighted the huge social inequalities across the globe. The resulting surge in interest and action from consumers, governments and companies has led to an explosion of investment opportunities. Insight managers Simon Cooke and Fabien Collado will outline the changes being felt across Europe and emerging markets and the resultant opportunity set for impact investors.

While US high yield corporate bonds delivered an impressive 12% cumulative returns between December 2019 and December 2021, Fallen Angel corporate bonds doubled those returns, posting 24%. And yet, few fully appreciate why and how Fallen Angels have been able to consistently outperform high yield not just in periods of heavy downgrade activity, but in almost every market environment. Insight's Efficient Beta team will explain the structural alpha opportunity within Fallen Angels, as well as how investors can access this elusive asset class.