Second Fund Managers’ Conference held for local financial advisors

How the global markets changed in 2025 discussed

The second Fund Managers’ Conference, co-ordinated by Jesmond Mizzi Financial Advisors (JMFA) was held last month at Trident Park. Jesmond Mizzi, Managing Director at JMFA, welcomed local financial service providers to the event, stating that this was an opportunity for local professionals to interact with foreign fund managers’ representatives. He thanked the three participating fund managers for their commitment to engage with the Maltese financial community.

The guest speakers for the second fund managers’ conference represented Janus Henderson Investors, Schroders Asset Management and Aegon Asset Managers. They shared their views on how each of them are dealing with the ongoing market uncertainties brought about by the introduction of tariffs by US President Donald Trump, ongoing geopolitical tensions and diverging monetary policy by central banks.

Celia Soares, Client Portfolio Manager at Janus Henderson spoke about the high yield bond markets. She addressed the evolution of the high yield market and also explained how sector dispersion has increased. She also discussed the rise in Fed policy uncertainty, noting that economic forecast visibility has deteriorated. Despite the uncertainties she stated that hard data has remained resilient so far, despite soft data trending negative.

Douglas Scott, equity manager at Aegon discussed how investors can generate reliable income in an uncertain world. He spoke about the developments following the recent tariffs announcements by the US, their impact of the US Dollar and the uncertainty that they brought about. He explained how China’s economic growth has not translated into earnings-per-share growth and emphasised that dividends remain a vital component of total returns, especially given that global dividends have hit record levels.

Dimitrios Batzis, Head of Southern CEE & Mediterranean countries at Schroders, outlined in his presentation the critical need for broad diversification and fully flexible multi-asset allocation within investment portfolios. He stressed that true diversification must encompass not only portfolio risk, but also a range of return drivers, and remarked that the traditional 60/40 equity-bond allocation is no longer sufficient, citing the need for portfolios to integrate liquid alternatives. Mr Batzis also emphasised the importance of active asset management, particularly in responding to heightened geopolitical risks and persistent economic uncertainty, stressing that proactive and adaptable strategies are key for investors navigating today’s complex market environment.