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

Name

Title

Title

Time

09:00 - 09:30

Session title

Arrival & Welcome coffee

Name

-

Title

-

Time

09:30 – 10:00

Session title

Macro Outlook

Name

Paul Donovan

Title

Chief Economist, UBS Global Wealth Management

Head of Investments

Time

10:00-10:40

Session title

Partnership: importance of alignment - Panel discussion

Name

Ray Fuller, CFA

Title

Head of Partnership Solutions

Time

10:40 –11:10

Session title

ETF myth busting with Europe's largest index manager

Name

Pravin Bagree

Title

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

Ray Fuller

Title

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

Andrew Marshak

Title

Portfolio Manager Credit Investment Group

Time

12:10 - 12:30

Session title

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

Name

Barry Gill

Title

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.