BNY Mellon Investment Conference

Thursday 5 March 2020

Rosewood Hotel, London


What do we really know about the generation we were born into, and those of our parents and children? How old we are – or what decade we were born in – can define our interests and how we invest. But what if our age-related assumptions were wrong? This is particularly relevant when ascribing age-related attributes and stereotypes to the world of investing.

Such conventions may be constricting fund choice and distorting our understanding of risk tolerances. At the same time, understanding the power of generations, can broaden investment horizons and enable managers to target burgeoning industries and product trends. And then there is the obvious influence age has in the economic world – with its impact over labour markets and pension ramifications.

This year, experts from across BNY Mellon Investment Management consider the world according to millennials, Gen X-ers and baby boomers and ask: how can we address their investment needs and interests?


Conference Info

5 March 2020

Rosewood Hotel, London

9:00 - 17:00

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A quick note regarding Coronavirus

Due to public health concerns, we would like to confirm that we do not have any attendees from countries where the prevailing advice is to restrict travel.

As the government recommends increased hand-washing, we have placed hand-sanitiser throughout the conference. We are also being extra vigilant about cleaning surfaces throughout the conference facilities.


Time Description
08:45 Registration
09:15 – 09:25 Welcome Address
09:25 – 09:45 Investment Influences
09:45 – 10:25 Dr Paul Redmond, Director of Student Experience and Enhancement, University of Liverpool
10:25 – 11:00 Lyse Doucet, Chief International Correspondent
11:05 – 11:30 Coffee Break
11:30 – 12:05 Boardroom Session 1
12:10 – 12:45 Boardroom Session 2
12:45 – 13:45 Lunch
13:45 – 14:20 Boardroom Session 3
14:25 – 15:00 Boardroom Session 4
15:05 – 15:45 David Stillwell, University Lecturer at Judge Business School, University of Cambridge
15:45 – 15:50 Event Wrap up
16:00 Drinks and Networking
18:00 Event Close


Topic Speaker/Fund Boutique
1 Baby boomers & Environmental and Social Governance
As the original flower power generation, you can't blame baby boomers for rolling their eyes and taking a superannuated deep breath at the first mention of ESG. Veterans of Woodstock, free love and the anti-war movement, they've lived the counter-culture and know what it takes to stick it to "The Man". Hardly surprising, then, if in a recent survey 42% of boomers said ESG issues are important in their investing decisions. Active engagement remains the order of the day and boomers will continue what they've already been doing for decades: encouraging companies to be good corporate citizens. Today's youngsters might tell them the times are a' changing. Maybe so. Either way baby boomers will just keep on truckin'. Speaking on BNY Mellon Sustainable European Credit fund, April LaRusse, explores sustainability initiatives, noting how governance issues remain key for fixed income investors.
April LaRusse
Sustainable European Credit
2 Baby boomers & pensions
With increased longevity and wealth, baby boomers enjoy far greater freedoms than many of their more youthful peers. They have the time, the energy and the inclination explore the world and live their lives on their own terms. They are the world cruise generation. The buyers of new cars. The owners of holiday homes. Yet with great freedom also comes great responsibility, and many baby boomers continue to take their obligations seriously. They are the custodians of wealth for future generations, preparing to put aside money and property for their children and grandchildren. With broadly restricted incomes, pensions and savings are key. But where to invest to bridge the transition from work to retirement? Are greater risks needed to generate capital gains or is income the solution? Ulrich Gerhard, manager of BNY Mellon Global Short Dated High Yield fund, looks to answer the income question for retiring baby boomers.
Ulrich Gerhard
Short Dated High Yield
3 Baby boomers & lifestyle
In the 1960s, baby boomers were considered trendsetters. Heading into retirement, they continue to hold this mantle. The people nearing retirement today once marched for equal rights, greater education and challenged the glass ceiling. Today, their march is for income and a stable place to keep their nest egg. This group is: tech smart and adventurists. Meanwhile, even older baby boomers (those in retirement already) are more interested in spending – looking at more luxurious retirement options – like travel or concierge-styled 'homes'. With memories of the the Global Financial Crisis still burnt into their minds, the top priority of this group is to preserve capital and generate the income needed to support an active lifestyle. Jim Lydotes, manager of BNY Mellon Global Infrastructure Income fund, explains how his asset class serves both of those needs.
Jim Lydotes
Infrastructure Income
4 Baby boomers, the silent generation & nostalgia
Nostalgia's not what it used to be but for the generation that lived through the second world war and their offspring, it's experience that counts. They have witnessed at first hand the broad sweep of 20th century history - from the austerity to the boom times and back again. The Silent Generation, born between 1925-1945, are the make-do-and-mend generation while their baby boomer offspring (1946-1964) were born in an economic period when wages kept pace with productivity, jobs were plentiful (the era of jobs-for-life) and state support was strong. They have lived through the worst and best of times and their longevity helps them understand today how the world of politics and the economy can turn on a dime. They know what it means to experience hardship but also why it's important to put something aside for a rainy day. Suzanne Hutchins, portfolio manager on Real Return fund, explores how avoiding drawdowns while looking for the upside is a tried-and-tested formula that's served such generations well all their lives.
Suzanne Hutchins
Real Return
5 Gen X & the questioning generation
It's the cohort that came of age defining itself in opposition to the flower power movement of the 60s. If their parents were about peace and love, Gen X were about Punk, New Wave and Grunge. It's the generation that grew up with Chernobyl, the Cold War, neoliberal economics and (in Europe at least) the dismantling of the State. What generation is better placed to question the wisdom of crowds? Mellon's efficient beta suite tackles asset classes where conventional active and passive approaches to investing fall short – a good fit for the generation that questions everything?
Paul Benson
Efficient Beta
6 Gen X & consumer interests
EVs, smart devices, autonomous cars, next gen eyeglasses, wearable skin sensors (UV trackers) – the digital devices of today can be expensive but tech-savvy Gen X have both the money and the interest. Since Gen Xers have high incomes, are concerned with health and wellness as they age yet not intimidated by new technology, this generation is a core audience for some of the more sophisticated devices. For example, Gen X are among the largest buyers of EVs. With an increased life expectancy and longer working life, Generation X are also likely to be active consumers for far longer than any generation preceding them. Mellon's George Saffaye outlines the trends most likely to drive stock performance and the thematic equity solutions looking to exploit them.
George Saffaye
Mobility/Digital Asset
7 Gen X & the sandwich generation
As the youth of yesteryear hit the wall of middle age everything's beginning to feel so much more real. Not only do they have aged parents to worry about (and pay for), they've got kids glued to ipads and school fees to boot. Intergenerational conflict never felt so good. It's a rude awakening for the cohort that spawned Ferris Bueller's Day Off, Heathers and the Breakfast Club. Squeezed between the obligation to look after their now ageing parents and their obligations to growing children, income is their watchword; not idealism. Nick Clay, manager of BNY Mellon Global Income fund, highlights how Gen Xers' need for steady income is best served from a global perspective.
Nick Clay
Global Income
8 Gen X & sustainability
Sometimes it's not just about the money. Power counts too. Fortunately for Gen Xers, after years of being overshadowed by their older, more numerous Baby Boomer peers, it's their turn to take centre stage. As they hit peak earnings potential, they're now in the driving seat and raring to make some changes – not least of all in the realm of sustainability and ESG. Asset allocators have little option but to heed these voices of change. Paul Brain, manager of BNY Mellon Global Dynamic Bond fund and its Sustainable sister fund, asks can Gen X make the world a better place?
Paul Brain
Global Dynamic Bond (& sustainability)
9 Millennials & sectoral influence
The media has at times described them as "lazy, avocado-loving, narcissistic and self-entitled". Their stereotype reputation is that they are unwilling or constitutionally unable to deal with the setbacks their elders would take in their stride. But, love them or hate them, the reality is Millennials are now all grown up.

They are adults, they are working, they are relevant and they are changing the world. As the biggest working demographic in the US, they profoundly influence markets and underlying businesses – and this looks set to continue. As digital natives they have no memory of life before Wi-Fi, mobile apps, the cloud, and mobile working, so they expect to be able to work where, when and how they want – it's a new perspective. Are companies able to adjust and invest in their business models to attract such digital natives? Will the emergence of new companies and industries to service this generation create new opportunities and destroy traditional ones?

For Alcentra, with its credit focus, rather than equities, the challenge is to understand the changes brought to bear by Millennials. Graham Rainbow looks at who the winners and losers of these changes are, and how Alcentra looks ahead to anticipate their future behaviour and influence.
Graham Rainbow
Senior to Distressed Debt
10 Millennials & sustainability
It's not just the developed world that cares about social and environmental issues. In emerging markets, too, ESG is moving up the agenda as a new cohort of social media-savvy citizens begins to find its voice. This is a generation that understands how weak governance can lead to health scandals and how negligence and greed can lead to lasting environmental damage. Part of an emerging middle class this generation is richer, better educated and more globally connected than its elders and betters. Filial piety is still the name of the game but for this group of millennials the battle to change the status quo is about to begin. Rodica Glavan, manager of BNY Mellon Emerging market Corporate Debt Fund, discusses how demographic and social change such as this in emerging markets is leading to greater opportunities.
Rodica Glavan
EMD Corporate
11 Millennials & risk aversion
Coming of age in the 00s means some of the most formative life choices for Western millennials – career and home – were made during a period of global austerity, economic recession and rising populism. Which is why millennials are considered to be the most risk-averse cohort since the Silent Generation (those above baby boomers). It means millennials are slow to buy property, slow to invest and prefer to hold more cash and less equities, despite their higher debt burdens. As millennials come to dominate the global workforce from 2020, they are an increasingly important customer to the savings industry but the funds they are interested in, might be less obvious. Millennial Emma Mogford, manager of the BNY Mellon UK Income fund, gives her views on how millennials think about investing and why income funds might find a whole new audience with this generation, fulfilling their requirement for equity returns with a lower risk profile.
Emma Mogford
UK Income
12 Millennials & consumer trends
More UK millennials have passports than driving licences. Cheap travel is just one of the defining trends of this generation.  As they overtake baby boomers as the largest adult population globally, they are the first cohort to have been raised in a digital world. Technology and smartphones are central to their lives and companies have change their business models accordingly. It's no longer enough to launch a marketing campaign targeted at the many. Millennials are all about the individual so e-commerce and social media have become key channels. Walter Scott investment analyst – and millennial - Laura Clark discusses some of the key lifestyle themes of her generation and how Walter Scott funds are positioned to capture these influential consumers.
Laura Clark
Long Term Global Equity


Dr Paul Redmond

Director of Student Experience and Enhancement, University of Liverpool

Dr Paul Redmond is a leading expert on generations and the future of work. Paul is currently the Director of Student Experience and Enhancement at the University of Liverpool and one of the UK's leading experts on the graduate employment market. During his career he has worked at a number of leading universities and has been responsible for guiding the careers of thousands of students and graduates. In addition to writing regularly for national newspapers and other publications, he is a frequent guest on both radio and TV, appearing on numerous BBC and independent news and current affairs programmes. Paul's research into 'Generation Y' (aka 'Millennials') and their impact on organisations has garnered him praise and respect from a range of national and international organisations, for which he provides consultancy. Paul is the author of several books, including the bestselling The Graduate Jobs Formula, A Parent's Guide to Graduate Jobs, Talking About My Generation, and, Making it Happen – the New World of Graduate Recruitment.

Lyse Doucet

Chief International Correspondent

Lyse Doucet is an award-winning broadcaster and Chief International Correspondent, covering events world-wide, but particularly those in and affecting the Middle East and Asia.

After studying international relations in her native Canada, Lyse travelled to Africa with an NGO. Her first role was to report from west Africa before being posted to Pakistan, Iran and Afghanistan, the latter to cover the Soviet withdrawal from the country. She was then stationed in Jordan, where she set up the network's Amman office, and Jerusalem; from thereon in she specialised in the Middle East. Lyse has covered every major conflict in the region since the mid-1990s including the Arab Spring and the civil war in Syria. She has also returned to Asia, covering major political events and natural disasters.

As well as covering stories and events on the ground as a senior presenter, Lyse has produced documentaries on Syria and Gaza, and fronted the Radio 4 series Her Story Made History, in which she interviews some of the most influential but overlooked women in modern politics, journalism and campaigning. She has received many international awards for her journalism and reporting, and has served as a Council Member of the Chatham House foreign affairs institution.

David Stillwell

University Lecturer at Judge Business School, University of Cambridge

David Stillwell is a University Lecturer in Big Data Analytics & Quantitative Social Science, and Academic Director of the Psychometrics Centre at the University of Cambridge's Judge Business School. David's research uses big data to understand psychology. His research highlights how using social media data from millions of consenting individuals, the computer can predict a user's personality as accurately as their spouse can. This research has important public policy implications. Do consumers prefer their online experiences to be customised? How should consumers' data be used to target them? Should regulators step in, and if so how? David has spoken at workshops organised by the EU Data Protection Supervisor, by the European Parliament's Science and Technology Options Assessment Panel, to UK government regulators, and to the Bank of England.


The conference will take place at Rosewood Hotel, London.

252 High Holborn
United Kingdom
T: +44 20 7781 8888



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Accommodation is available on the night of 4 March for those travelling from outside London. Please tick here if you require a complimentary room.

Taking notes

iPads will be available on the day for delegates to take notes, please let us know if you would like to reserve one, or if you would prefer a traditional notepad.

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