Asset and Wealth Management Conference 2023

12 September 2023

Singapore

PwC Singapore's Asset and Wealth Management conference is back this year and will take place on Tuesday, 12 September 2023. We will bring together traditional and alternative asset managers, institutional investors, family offices, market leaders and other professionals to discuss and share insights on topics including:

  • Outlook on the industry and key opportunities and challenges 
  • Sustainability in the digital age
  • CEOs/C-suite perspectives on navigating the current environment
  • Private markets investing in the new context
  • Key regional insights on investment trends and market developments
  • Future of wealth in convergence with emerging technologies

The conference will also showcase our most recent thought leadership, ‘Asset and wealth management revolution 2023: The new context’, where we discuss how rising interest rates, inflation uncertainty and geopolitical instability have created a new context for asset management. Our global survey and 2027 projections reveal how shifting investor expectations will disrupt the status quo. The new context explores areas that have long been critical to the asset and wealth management industry. Areas such as: digital transformation, shifting investor expectations, consolidation and “retailisation” of private markets — are gaining new ground and posing fresh questions against a backdrop of social, economic and geopolitical disruption.

Returning to form following the COVID-19 pandemic and associated restrictions, PwC Singapore recently hosted 180 guests, both from Singapore and across APAC, for its 2023 Asset and Wealth Management conference.

With the industry seeing substantial shifts, changing investor expectations, social changes, rising interest rates, economic uncertainty, and geopolitical upheaval, the conference invited industry leaders and regional partners from the PwC network, where they addressed key trends in the space and explored how asset and wealth managers could harness the emerging forces shaping their world.

These trends included emerging technologies such as web3.0 and generative artificial intelligence (GenAI), the role of sustainability, NextGeneration (NextGen) investors, and more.

Explore our event highlights

State of the industry in the new context

Paul Pak, Asset and Wealth Management Leader, PwC Singapore

The conference kicked off with a visual presentation, highlighting key findings and forecasts from its 2023 Global Asset and Wealth Management Survey, the findings of which were released in the ‘Asset and wealth management revolution 2023: The new context’ report.

Findings and forecasts from this publication include:

  • Global Assets Under Management (AUM) is expected to reach USD 147.3 trillion by 2027, reversing its 2022 fall, with APAC AUM rebounding at a faster rate than other regions.
  • Inflation, interest rate movements, stability of the financial services sector, and market volatility were the top concerns of institutional investors.
  • Passive and alternative AUM will continue to grow, and at a faster pace, but active strategies will still account for over half of global AUM by 2027. Alternative AUM comprises hedge funds and private markets. Hedge funds are expected to benefit further in view of the current market volatility and the liquidity they offer to investors.
  • ETFs are seen by investors as being value for money, transparent, and increasingly attractive in the current economic uncertainty. Alongside investor demand for more innovative strategies such as active ETFs, ETF AUM is poised for significant AUM growth in the region.
  • Private assets are expected to grow despite the headwinds that have been experienced in 2022 and in 1H23 given sluggish dealmaking. Dry powder in the region remains high and the region presents compelling economic growth opportunities (e.g. India, Japan, ASEAN) so this segment is poised for explosive growth with near-term opportunities expected to be in private credit, infrastructure and certain real estate strategies.
  • High net worth investors (HNWIs) and sovereign wealth funds/global public investors will be the two client segments that will grow the fastest by 2027, but HNW and mass affluent investors will be the largest client segments.
  • A multi-trillion dollar wealth transfer from baby boomers to millennials will see a new generation of investors, one with a greater interest in alternative investments, sustainability, and technology-enabled AI / data solutions than their parents, join the ranks of HNWIs and mass affluent investors. These investor segments are also expected to be the fastest growing segments by 2027.
  • AI and big data are set to revolutionise the industry by 2027. All institutional investors will require their managers to use AI and big data to enhance investment performance. Digital transformation is unavoidable and asset managers will need to overcome their current challenges to adapt and evolve in line with investor expectations. 
  • Distributed Ledger Technology, tokenisation and digital-based solutions will have a significant impact on the industry and provide potential to improve operational efficiency, expand financial inclusion in fast growing emerging markets and address the growing demand for hyper personalised solutions. 
  • Digital-based solutions will be part of the building blocks of a diversified portfolio, with 51% of institutional investors that plan to invest in innovative products seeking to increase their exposure to digital assets in the next 12-24 months, and 49% of asset managers expected to prioritise staying up to date with alternative digital assets in the same period.
  • Fee and revenue pressure will continue to tighten the business environment for asset managers leading to further consolidation and increased appetite for inorganic growth, partnerships and alliances.
  • Asset managers need to be mindful of their “social licence to operate'' to help rebuild trust in the financial markets and banking systems. There is a timely opportunity for the industry to embrace their societal role in communities and succeed through having purposeful and values-led growth. 

For industry players, the choice is simple; adapt or fail.

The session concluded with five key imperatives for future survival and success highlighted, namely:

  • Steering through a once-in-a-career upheaval
  • Getting closer to the customer
  • Embracing experimentation and change
  • Delivering at scale amid cost and competitive pressures
  • Standing up to intensifying scrutiny

In addition to disruption, the new context presents myriad opportunities for asset and wealth managers. It is up to them to determine how best to seize them.

A look back at our Asset and Wealth Management Conference 2023

Explore our event highlights

Event details

Date: Tuesday, 12 September 2023
Time: 10:30am - 5:30pm (Registration starts at 10am),
Networking session from 5:30pm onwards
Location: Big Picture, Capital Tower, Level 9, 168 Robinson Rd, Singapore 068912

Programme

Time

Session

Speakers

10:00 am

Registration and networking

 

10:30 am

Opening and welcome address

Sam Kok Weng, Markets and Financial Services Leader, PwC Singapore

MCs: 

  • Puay Khoon Lee, Partner, Asset and Wealth Management Tax, PwC Singapore
  • Christina Mason, Director, Asset and Wealth Management ESG, PwC Singapore

10:45 am

State of the industry in the new context

PwC’s 2023 Global Asset and Wealth Management Survey and 2027 projections reveal our forward-looking outlook on the industry and how shifting investor expectations are giving rise to opportunities and existential challenges that the industry will need to grapple with against a backdrop of social, economic and geopolitical disruption.

 

Paul Pak, Asset and Wealth Management Leader, PwC Singapore

11:05 am

Sticky inflation and normalised rates

Inflation rose sharply in the aftermath of the 2020-21 pandemic, and has begun easing lately. But interest rates have gone only one way since 2022, recently reaching highs not seen in 15 years. Investors need to appreciate the impact of this development on company, household, and national balance sheets, and what they mean for a wide range of asset prices. If inflation turns sticky due to green transition, deglobalisation, and industrial policy, while growth improves due to technological gains, a protracted period of high rates could be ahead. That scenario has its pitfalls, but opens up major portfolio opportunities as well.

Taimur Baig, Managing Director and Chief Economist, DBS Bank

12:00 pm

Light lunch and networking

 

1:00 pm

Sustainability in the digital age

The evolution of sustainable investing – focusing on regulatory aspects, geopolitical influences, and the significance of data and technology.

Georg Kell, Founding Executive Director of UN Compact Initiative, Chairman of Arabesque

1:40 pm

CEOs/C-suite perspectives on navigating the new context

The panel will discuss how CEOs/C-suite are thinking about navigating the “new context” – higher interest rates, scarce capital, inflationary pressures, continued geopolitical tensions and climate change – alongside shifting investor preferences, margin pressures, disruptive technological advancements and increased expectations to operate with a social licence. Faced with this new context, our panel of leaders will discuss from the perspective of asset managers and investors, how businesses can successfully adapt to thrive in the changing industry landscape.

Panellists:

Moderator: Paul Pak, Asset and Wealth Management Leader, PwC Singapore

2:30 pm

Private markets investing in the new context

The music continues to play in private capital markets post COVID though at a lower volume and a different rhythm. The panel will explore investors’ and fund managers’ perspectives across the different segments of private equity, private credit and real estate. This panel will explore key themes including upcoming transfer of wealth from baby boomer parents to millennials, big trends such as environmental, social and governance (ESG), artificial intelligence (AI) and the impact and opportunities for private markets investing.

Panellists:

  • Ivan Lew, CEO, Shaw Investment 
  • Yeo Wee Yap, Managing Director, SeaTown Holdings International 
  • Fiona Cho, COO – Asia Pacific, Senior Portfolio Manager, PGIM Real Estate
  • Chue En Yaw, Chief Investment Officer, Azalea Investment Management

Moderator: Maan Huey Lim, Partner, Asset and Wealth Management Tax, PwC Singapore

3:20 pm

Networking break

 

3:50 pm

A tour around the region – insights on investment trends and key market developments

The panel will take you on tour of China, Japan, India and South East Asia sharing insights on investment trends and market developments including tax and regulatory updates impacting inbound investments and fund raising.

Panellists:

  • Aaron Costello, Managing Director, Head of Asia, Cambridge Associates 
  • Dai Tsujita, Asset and Wealth Management Leader, PwC Japan
  • Vikram Bohra, Partner, Tax and Regulatory Services, Price Waterhouse & Co LLP
  • Matthew Wong, Asset and Wealth Management Tax Leader, PwC China

Moderator: Anuj Kagawala, Partner, Asset and Wealth Management Tax, PwC Singapore

4:40 pm

Future of wealth in convergence with emerging technologies

The discussion will focus on the evolution of wealth and its transition into the future, and the impact of emerging technologies e.g. Central Bank Digital Currency (CBDCs), Decentralised Finance (DeFi), AI and Generative Artificial Intelligence (Gen AI), Web3.0 and the Metaverse.

Panellists:

Moderator: Luke Soon, Partner, Asia Pacific Digital Assets and Support Services, PwC Singapore

5:20 pm

Closing address

 

5:30 pm onwards

Networking session

 

Programme

Sam Kok Weng, Markets and Financial Services Leader, PwC Singapore

MCs:

  • Puay Khoon Lee, Partner, Asset and Wealth Management Tax, PwC Singapore
  • Christina Mason, Director, Asset and Wealth Management ESG, PwC Singapore

PwC’s 2023 Global Asset and Wealth Management Survey and 2027 projections reveal our forward-looking outlook on the industry and how shifting investor expectations are giving rise to opportunities and existential challenges that the industry will need to grapple with against a backdrop of social, economic and geopolitical disruption.

Paul Pak, Asset and Wealth Management Leader, PwC Singapore

Inflation rose sharply in the aftermath of the 2020-21 pandemic, and has begun easing lately. But interest rates have gone only one way since 2022, recently reaching highs not seen in 15 years. Investors need to appreciate the impact of this development on company, household, and national balance sheets, and what they mean for a wide range of asset prices. If inflation turns sticky due to green transition, deglobalisation, and industrial policy, while growth improves due to technological gains, a protracted period of high rates could be ahead. That scenario has its pitfalls, but opens up major portfolio opportunities as well.

Taimur Baig, Managing Director and Chief Economist, DBS Bank

The evolution of sustainable investing – focusing on regulatory aspects, geopolitical influences, and the significance of data and technology.

Georg Kell, Founding Executive Director of UN Compact Initiative, Chairman of Arabesque

The panel will discuss how CEOs are thinking about navigating the “new context” – higher interest rates, scarce capital, inflationary pressures, continued geopolitical tensions and climate change – alongside shifting investor preferences, margin pressures, disruptive technological advancements and increased expectations to operate with a social licence. Faced with this new context, our panel of leaders will discuss from the perspective of asset managers and investors, how businesses can successfully adapt to thrive in the changing industry landscape.

Panellists:

Moderator: Paul Pak, Asset and Wealth Management Leader, PwC Singapore

The music continues to play in private capital markets post COVID though at a lower volume and a different rhythm. The panel will explore investors’ and fund managers’ perspectives across the different segments of private equity, private credit and real estate. This panel will explore key themes including upcoming transfer of wealth from baby boomer parents to millennials, big trends such as environmental, social and governance (ESG), artificial intelligence (AI) and the impact and opportunities for private markets investing.

Panellists:

  • Ivan Lew, CEO, Shaw Investment 
  • Yeo Wee Yap, Managing Director, SeaTown Holdings International 
  • Fiona Cho, COO – Asia Pacific, Senior Portfolio Manager, PGIM Real Estate
  • Chue En Yaw, Chief Investment Officer, Azalea Investment Management

Moderator: Maan Huey Lim, Partner, Asset and Wealth Management Tax, PwC Singapore

The panel will take you on tour of China, Japan, India and South East Asia sharing insights on investment trends and market developments including tax and regulatory updates impacting inbound investments and fund raising.

Panellists:

  • Aaron Costello, Managing Director, Head of Asia, Cambridge Associates 
  • Dai Tsujita, Asset and Wealth Management Leader, PwC Japan
  • Vikram Bohra, Partner, Tax and Regulatory Services, Price Waterhouse & Co LLP
  • Matthew Wong, Asset and Wealth Management Tax Leader, PwC China

Moderator: Anuj Kagawala, Partner, Asset and Wealth Management Tax, PwC Singapore

The discussion will focus on the evolution of wealth and its transition into the future, and the impact of emerging technologies e.g. Central Bank Digital Currency (CBDCs), Decentralised Finance (DeFi), AI and Generative Artificial Intelligence (Gen AI), Web3.0 and the Metaverse.

Panellists:

Moderator: Luke Soon, Partner, Asia Pacific Digital Assets and Support Services, PwC Singapore

PwC professionals

Partner, Asset and Wealth Management Tax, PwC Singapore

Director, Asset and Wealth Management ESG, PwC Singapore

Asset and Wealth Management Leader, PwC Japan

Partner, Asia Pacific Digital Assets and Support Services, PwC Singapore

Partner, Asset and Wealth Management Tax, PwC Singapore

Asset and Wealth Management Tax Leader, PwC China

Asset and Wealth Management Leader, PwC Singapore

Asset and Wealth Management Tax, PwC Singapore

Financial Services Leader, PwC Singapore

Partner, Tax and Regulatory Services, Price Waterhouse & Co LLP

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