Call us on
+44 (0) 207 045 0920

Economic fundamentals vs. market technical vs. ratings: Where do investors see long term value in the GCC credit markets?

Broadcast on Dec 8, 2020 from Livestream: Bonds, Loans & Sukuk Middle East 2020 - Virtual Conference

Platinum Sponsor

Emirates NBD

Platinum Sponsor

First Abu Dhabi Bank (FAB)

Gold Sponsor

BofA Securities

Gold Sponsor

HSBC

Gold Sponsor

MUFG

Gold Sponsor

SMBC

Multilateral Sponsor

ICD

Silver Sponsor

DWF

Silver Sponsor

Intesa Sanpaolo

Silver Sponsor

London Stock Exchange

Silver Sponsor

Mauritius Commercial Bank (MCB)

Silver Sponsor

Rawabi Holding

Bronze Sponsor

Arthur Cox

Bronze Sponsor

Bank of Jordan

Bronze Sponsor

Fitch Ratings

Bronze Sponsor

Finsight

Bronze Sponsor

Landesbank Baden-Württemberg

Bronze Sponsor

Shearman & Sterling

Bronze Sponsor

Squire Patton Boggs

Bronze Sponsor

United Arab Bank

Bronze Sponsor

Vienna Stock Exchange (Wiener Börse)

Subscribe for access:

  • A fundamental question: Why has a slump in oil prices not impacted international investor appetite more significantly? How are investors analysing value and managing their portfolios?
  • After the perfect (sovereign debt) storm: Is there sufficient liquidity left in the market for FI and corporate issuers?
  • G for is governance: How much transparency is enough? How much will ongoing defaults and debt restructurings impact the trajectory of the GCC credit markets?
  • Yield hungry but not that hungry: What would motivate investors to stomach GCC high yield credit?
Middle East

Moderator

Paul Lund

Paul Lund

Senior Director, Head of EMEA Industrials

Fitch Ratings

Paul Lund

Paul Lund

Senior Director, Head of EMEA Industrials at Fitch Ratings

Paul Lund was appointed Head of Fitch’s Industrial Ratings group for Europe, the Middle East and Africa, in April of 2016. He is ultimately responsible for ratings in a diverse portfolio including automotive, manufacturing, aerospace and defence, packaging, building materials, and construction companies.

Paul has an extensive experience in credit ratings, having joined Standard & Poor’s in 1998, and a subsequent spell at Moody’s, before joining Fitch Ratings in 2014, covering a wide variety of industries and financing structures.

Paul graduated from the University of Liverpool with a B.Eng (Honors) in Mechanical Engineering and Industrial Management.

Fitch Ratings

Paul Lund

Fitch Ratings is a leading provider of credit ratings, commentary, and research. Dedicated to providing value beyond the rating through independent and prospective credit opinions, Fitch Ratings offers global perspectives shaped by strong local market experience and credit market expertise. The additional context, perspective, and insights we provide help investors to make important credit judgments with confidence.

Fitch Group is a global leader in financial information services with operations in more than 30 countries. Fitch Group is comprised of: Fitch Ratings, a global leader in credit ratings and research; Fitch Solutions, a leading provider of credit market data, analytical tools and risk services; and Fitch Learning, a preeminent training and professional development firm. With dual headquarters in London and New York, Fitch Group is owned by Hearst.

For additional information, please visit fitchratings.com.

LinkedIn Page: www.linkedin.com/company/fitch-ratings

Speakers

Sanchay Singla

Sanchay Singla

Portfolio Manager, Emerging Markets Fixed Income

Legal & General

Sanchay Singla

Sanchay Singla

Portfolio Manager, Emerging Markets Fixed Income at Legal & General

Sanchay is a Portfolio Manager within the Global Fixed Income team and is responsible for managing corporate investments in active EMD portfolios. Prior to joining LGIM, Sanchay was a credit trader at Royal Bank of Scotland for 3 years. At RBS, he made markets in Asian and European Credit across currencies as a principal risk taker from London and Singapore.

Sanchay graduated from the Indian Institute of Management, Ahmedabad and holds master’s degree in Business Administration. He also holds Bachelors in Computer Engineering from University of Delhi and is a CFA Charterholder.

Legal & General

Sharif Eid

Sharif Eid

Portfolio Manager, Global Sukuk and MENA Fixed Income

Franklin Templeton Investments

Sharif Eid

Sharif Eid

Portfolio Manager, Global Sukuk and MENA Fixed Income at Franklin Templeton Investments

Sharif Eid is a portfolio manager for Franklin Templeton Investments (Middle East) Limited. Mr. Eid joined the Global Sukuk and MENA Fixed Income investment team in April 2009 as a research analyst where he helped develop the group's fundamental research process and production. Mr. Eid was promoted to portfolio manager in 2011 and is currently the co-manager of the FTIF GCC Bond Fund and co-manager of Global Sukuk institutional accounts.

Prior to joining Franklin Templeton Investments (Middle East) Limited, formerly Algebra Capital, Mr. Eid worked for TD Securities in Toronto as a trader. He rotated through credit, FX and interest rate option desks.

Mr. Eid holds a bachelor's degree in industrial engineering and a master's degree in mathematical finance, both from the University of Toronto.

FTIML-Dubai is an active, research-driven, team-based manager which aims to achieve superior long-term investment performance against relevant benchmarks and to provide excellent, value-added client service through the Franklin, Templeton and Mutual Series investment groups. The fund management team performs bottom-up research to manage assets in private and public markets across all asset classes. Their services are packaged as fund solutions, discretionary mandates or structured products.

Franklin Templeton launched a dedicated bond fund aimed at capitalising on the growing debt market in the Gulf region which was supported by portfolio Sharif Eid.

Franklin Templeton Investments

Todd Schubert

Todd Schubert

Managing Director, Head of Fixed Income Research

Bank of Singapore

Todd Schubert

Todd Schubert

Managing Director, Head of Fixed Income Research at Bank of Singapore

Todd Schubert is a Managing Director and Head of Fixed Income Research for Bank of Singapore. He joined the Bank’s predecessor ING Asia Private Bank in 2008. Prior to that he was Head of Asian Fixed Income Research at Deutsche Bank as well as a Global Credit Portfolio Manager with the Government of Singapore Investment Corp. During his more than 30 years of Investment Experience Todd has also worked for a number of major U.S. Financial Institutions including USAA and GE Asset Management. Todd has an MBA from the Booth School of Business at the University of Chicago and a Bachelor’s Degree from UCLA. He is CFA certified.

Bank of Singapore is a wholly owned subsidiary of OCBC Bank, Southeast Asia’s second largest bank. Headquartered in Singapore, Bank of Singapore operates from a strong and open economy. Bank of Singapore are one of the fastest growing private banks in Asia, offering a structured and consistent approach - an open architecture product platform with robust research capabilities to deliver a total risk-based solution customised to each client’s needs.

Bank of Singapore is the high standard of competence and expertise of its management team. Underpinned by the core principles of prudence, diligence and excellence, the leaders have led in the development of successful business strategies across every network location and put in place a robust team.

Bank of Singapore

Dilawer Farazi

Dilawer Farazi

Portfolio Manager, Global Credit

Royal London Asset Management

Dilawer Farazi

Dilawer Farazi

Portfolio Manager, Global Credit at Royal London Asset Management

Dilawer Farazi is a Portfolio Manager at Royal London Asset Management, responsible for Emerging Market corporate bonds within the Global Credit team. Dilawer has 15 years of experience investing in EM, has held portfolio manager and analyst positions at GIB Asset Management, ADIC and Loomis Sayles, working in London and the Middle East. Dilawer has a BA in Law & Economics from Queen Mary’s, University of London and is a Fellow of the Institute of Chartered Accountants in England & Wales.

Royal London Asset Management

Ali Dhaloomal

Ali Dhaloomal

EEMEA Credit Research Analyst

BofA Securities

Ali Dhaloomal

Ali Dhaloomal

EEMEA Credit Research Analyst at BofA Securities

Ali Dhaloomal is an Emerging Markets corporate credit analyst at Bank of America Global Research. He has more than 10 years’ experience covering corporates and banks from the Middle East, Turkey and Africa. Mr Dhaloomal has an extensive coverage across various industries and through the rating spectrum. He also developed an in-depth knowledge on sukuk structures and markets.

He and his team have been ranked #1 in EEMEA Corporate Debt Strategy for four consecutive years since 2016 in the Institutional Investor Global Fixed Income Research survey.

Prior to joining Bank of America, Mr Dhaloomal worked in the M&A division of BNP Paribas in Paris and in equity research at NexResearch covering French small caps. He holds an MSc degree in finance from ESCP Europe.

BofA Securities

Ali Dhaloomal

At Bank of America, we’re guided by a common purpose to help make financial lives better, through the power of every connection. We’re delivering on this through responsible growth with a focus on our environmental, social and governance (ESG) leadership. ESG is embedded across our eight lines of business and reflects how we help fuel the global economy, build trust and credibility, and represent a company that people want to work for, invest in and do business with. It’s demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our clients, and the impact we make around the world in helping local economies thrive. An important part of this work is forming strong partnerships with nonprofits and advocacy groups, such as community, consumer and environmental organizations, to bring together our collective networks and expertise to achieve greater impact. Learn more at about.bankofamerica.com, and connect with us on Twitter (@BofA_News) and LinkedIn (@BofA_Business )