Event

The Red Thread

2025 Global Outlook

We are delighted to host the second edition of the UBS Asset Management annual macro outlook, as part of our Red Thread roadshow. Every year, we aim to bring you our sharpest thinking on the key themes shaping global markets. As ever, there will be plenty to talk about.

 

Macroeconomic regime changes are always tricky to navigate. Complicating matters further, having only just adjusted to a move higher in interest rates, investors are now trying to digest tentative interest rate easing from major central banks. Geopolitics, along with domestic politics has loomed large and investors anticipating a US recession are having their patience tested. Artificial intelligence continued to dominate headlines, as well as the hearts and minds of investors with a narrow set of US stocks – the Magnificent Seven – driving global equity market returns.

 

At this in-person event, we will cover big picture views, diversification and offer ideas on how to navigate portfolios through testing times.


Please see the event's agenda below.

Date

28 Jan 2025

Location

7th Floor, UBS5 BroadgateLondon, EC2M 2QS

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Start time

09:00 Greenwich Mean Time (GMT)

Duration

4.5 Hours

We are delighted to host the second edition of the UBS Asset Management annual macro outlook, as part of our Red Thread roadshow. Every year, we aim to bring you our sharpest thinking on the key themes shaping global markets. As ever, there will be plenty to talk about.

 

Macroeconomic regime changes are always tricky to navigate. Complicating matters further, having only just adjusted to a move higher in interest rates, investors are now trying to digest tentative interest rate easing from major central banks. Geopolitics, along with domestic politics has loomed large and investors anticipating a US recession are having their patience tested. Artificial intelligence continued to dominate headlines, as well as the hearts and minds of investors with a narrow set of US stocks – the Magnificent Seven – driving global equity market returns.

 

At this in-person event, we will cover big picture views, diversification and offer ideas on how to navigate portfolios through testing times.


Please see the event's agenda below.

Agenda

Time

Time

Session title

Session title

Name & Title

Name & Title

Time

09:00 - 09:30

Session title

Arrival & Welcome coffee

Name & Title

-

Time

09:30 – 10:00

Session title

Macro Outlook

Name & Title

Paul Donovan,
Chief Economist, UBS Global Wealth Management Head of Investments

Time

10:00-10:40

Session title

Partnership: importance of alignment - Panel discussion

Name & Title

Ray Fuller, CFA,
Head of Partnership Solutions

Diandra Soobiah,
Director of Responsible Investment and ESG Integration, Nest pensions

Dan Mikulskis,
Chief Investment Officer, The People’s Partnership

Richard Romer-Lee,
Co-founder of Square Mile and co-CEO of Titan Asset Management

Michael Ashworth,
Head of Public Markets, Greater Manchester Pension Fund

Time

10:40 –11:10

Session title

ETF myth busting with Europe's largest index manager

Name & Title

Pravin Bagree,
Head of ETF Capital Markets

Nasreen Kasenally,
Chief Operating Officer, Asset Management & Country Head Asset Management UK

Time

11:10-11:30

Session title

Coffee break & split into Breakout sessions

Name & Title

-

Time

11:30 - 12:10

Session title

Wholesale Client Breakout: Deep dive on Partnership Solution

Name & Title

Ray Fuller,
Head of Partnership Solutions

Jamie Lewin,
Head of Partnership Solutions Specialists

Stephen Friel, CAIA,
Head of Partnership Solutions Specialists EMEA

Time

11:30 - 12:10

Session title

Institutional Client Breakout: Credit Investment group

Name & Title

Andrew Marshak,
Portfolio Manager Credit Investment Group

Time

12:10 - 12:30

Session title

Finding balance: Correlations, Causation, and the Art of Portfolio Construction

Name & Title

Barry Gill,
Head of Investments

Time

12:30 - 13:30

Session title

Closing remarks, lunch and networking

Name & Title

-

Presenters

Portafolio de Barry Gill

UBS Asset Management

Barry Gill

Head of Investments

Barry Gill was appointed Head of Investments in November 2019 and is a member of the UBS Asset Management Team. He was Head of Active Equities within UBS Asset Management from early 2016 and, before that, joined O’Connor in 2012 as a member of the management group where he ran a concentrated long/short strategy.

Prior to joining O’Connor, Barry was head of the Fundamental Investment Group (Americas) for nearly six years within UBS Investment Bank, investing and trading the firm's principal capital. Barry moved to the US in 2000 from London to rebuild the long / short principal investing effort within Equities following the creation of O’Connor as a hedge fund business. In his five years in London at SBC and UBS, he was co-head of Pan-European Sector Trading, a proprietary book, and co-head of European Risk Program Trading for two years, preceded by two years as the head of the French trading book. Barry joined SBC's European derivatives desk as a graduate trainee in 1995.

Portafolio de Barry Gill

UBS Asset Management

Ray Fuller

Head of Partnership Solutions

Portafolio de Angus Muirhead

UBS Asset Management

Pravin Bagree

Head of ETF Capital Markets

Pravin joined UBS Asset Management in January 2020 to run the ETF Capital Markets team.  His team is the central conduit for the primary and secondary market trading of UBS ETFs.  They are available to advise on bespoke ETF trading strategies to maximize liquidity and access tight pricing through NAV and risk methodologies.
 
Before joining UBS, Pravin was a Delta One Trader (ETFs, Swaps, Futures, etc.) for the past 15 years at various investment banks including JPMorgan, Credit Suisse, UniCredit and HSBC.  Pravin studied Economics at the University of Cambridge and graduated in 2004.

Portafolio de Jean-Luc

UBS Asset Management

Nasreen Kasenally

Chief Operating Officer, Asset Management and Country Head Asset Management UK
Managing Director

Nasreen Kasenally was appointed Global Chief Operating Officer for UBS Asset Management (AM) in May 2023. She is responsible for all business support functions for the division, encompassing Operating, Accounting & Control, the Chief Data Office, AM’s Transformation and Change portfolio, Business Risk Management and AM Tax, as well as those provided by UBS’s Group Functions, such as AM CDIO. She is Chair of the UBS Asset Management Operating Forum.

In addition to her role as COO, Nasreen was appointed Country Head AM UK in May 2023, responsible for overseeing all AM business conducted in the UK and promoting cross-business collaboration in the location.

Previously, Nasreen held senior Risk roles across the firm both in the US and the UK. Most recently, she was the Chief Risk Officer for UBS Asset Management from January 2017, overseeing financial risks across active and passive funds, multi-asset, hedge funds, real estate, private equity and infrastructure, and held the additional posts of CRO for the UBS Group EMEA region and for Group Sustainability.

Nasreen has been a member of the UBS Asset Management Team since 2017 and a member of the UBS Asset Management AG Board of Directors for the past five years.

Nasreen is an active champion of Diversity, Equity & Inclusion at UBS, with external interests in mentoring female social entrepreneurs tackling microfinance in developing countries.

Portafolio de Jonathan Gregory

UBS Asset Management

Jamie Lewin

Head of Partnership Solutions Specialists

Portafolio de Álvaro Cabeza

UBS Asset Management

Stephen Friel, CAIA

Stephen is responsible for designing innovative products and solutions for wholesale and institutional clients, spanning a range of investment needs. Stephen is also responsible for providing prospects, clients, and investment consultants with strategic thinking, market, and investment views across our multi-asset capabilities.

Stephen joined UBS Asset Management in 2012 from Queen's University Belfast, having graduated with a degree in finance. Prior to graduating, Stephen undertook a one-year industrial placement within the Asset Allocation & Currency team at UBS. Stephen is a full member of the Chartered Alternative Investment Analyst (CAIA) Association. He holds the Certificate in Sustainable Finance from the University of Cambridge Institute for Sustainability Leadership (CISL). He also holds the Investment Management Certificate (IMC).

Portafolio de Nina Petrini

UBS Asset Management

Paul Donovan

Chief Economist, UBS Global Wealth Management

Paul Donovan is Head of Economics at UBS Global Wealth Management. He joined UBS in 1992 as a junior economist at the Investment Bank. As Head of Economics, he is a member of the House View Investment Forum, a thought leader at UBS and a member of UBS Pride and the UBS Art Board. He is also a member of the UBS Institute for Sustainability and Impact. Paul has been actively involved in the UBS Nobel Perspectives program and supports the UBS Women in Economics program.

Paul holds a BA in Philosophy, Politics and Economics from the University of Oxford and an MA in Financial Economics from the University of London. He is also an Honorary Fellow of St Anne’s College, Oxford and sits on the investment committee and development board. He is a member of the Research Advisory Board of Open Business, a supervisor of the Directors’ Institute’s diversity committee, and a member of the World Economic Forum’s Community of Economists and the Global Future Council on growth.

Portafolio de Jonathan Gregory

Diandra Soobiah

Director of Responsible Investment and ESG Integration, Nest pensions

Diandra Soobiah is the Director of Responsible Investment and ESG Integration and has 21 years of investment experience. She joined Nest in 2010 and has helped build and develop Nest’s responsible investment approach. She’s responsible for its delivery and oversees the implementation and management of ESG and stewardship across the scheme’s assets. She is part of Nest’s investment leadership team and is currently a co-chair of the 30% Club UK Investor Group and a member of the Pensions and Lifetime Savings Association’s (PLSA) Stewardship Advisory Group.

Before joining Nest she worked at Russell Investments and Nedgroup Investments

Portafolio de Álvaro Cabeza

Dan Mikulskis

Chief Investment Officer, The People’s Partnership

Dan leads the investment team of The People’s Partnership and drives forward the investment strategy of the £30bn People’s Pension Master Trust serving over 6 million members, being one of the largest asset owners in the UK.

Dan is a big fan of cutting through the noise when it comes to investing, using clear principles to guide investment and thinking with the mindset of an asset owner.
Dan has been operating in the investments sector since 2003 and Dan’s previous career experience has included investment consulting roles at consultancy firms Lane, Clark and Peacock (LCP) where Dan was a partner, Redington and Mercer.

Portafolio de Álvaro Cabeza

Matteo Mazzetto

Head of UK Institutional Client Coverage, UBS Asset Management

Matteo is Head of UK Institutional Client Coverage. Based in London, he is responsible for managing UBS AM business with Institutional Clients in the UK market and the UBS AM Liquid Alternatives O’Connor distribution for the EMEA Region.

Matteo joined UBS AM in July 2022 and previously worked at Credit Suisse from 2019-2022 where he was Head of Fund Linked Synthetic Managed Account business globally, within the Global Markets division.

Prior to this, he worked at Morgan Stanley in the Institutional Equity Derivatives and Fund Linked Solution businesses for about 9 years.
Matteo started his career at Goldman Sachs in the Investment Banking Division, where he mainly worked in the Financial Institutions Group and in the Italian Mergers & Acquisitions advisory teams.

Portafolio de Álvaro Cabeza

Richard Romer-Le

Co-founder of Square Mile and co-CEO of Titan Asset Management

Richard is a co-founder of Square Mile and co-CEO of Titan Asset Management. Richard is responsible for determining the strategy and focus for the business in conjunction with the Board and the Management Team. He works closely with clients, as well forging strong business relationships within the wider industry. Richard regularly interviews leading industry figures for Square Mile’s popular ‘Talking With’ series.

Portafolio de Álvaro Cabeza

Michael Ashworth

Head of Public Markets, Greater Manchester Pension Fund

Michael is the Head of Public Markets at the Greater Manchester Pension Fund. Having joined the Fund in 2015 Michael has undertaken numerous roles within the Investments Team. Prior to joining the Fund, Michael was responsible for running the Treasury Management Function for Tameside Metropolitan Borough Council. Michael holds a BA in Accounting and Finance from the University of Leeds.