The Mingde Roundtable Conference: Investment Strategies in the New Era of Inflation

Mingde 2021 Series: Episode 11

Mingde Forum Semi-Annual Roundtable Conference

#ROUNDTABLE#

Analysis of Inflationary Situation

& Investment Strategies for the Second Half of the Year

Unconsciously, the busy and intense first half of the year is coming to an end, and the world is entering a new phase in terms of the COVID-19 pandemic, global economy, and financial markets. Here are some key observations:

• Vaccination rates are accelerating in major economies, and a full reopening of the economy seems imminent.

• The emergence of new virus variants poses severe challenges, particularly for developing countries.

• Suppressed demand is being released, becoming a crucial driver in the market.

• Prospects of demand are supporting a surge in commodity prices, and inflationary pressures driven by costs are evident.

• US inflation has reached 5%, but the job market has not fully recovered.

• Monetary and fiscal policies continue to provide full-speed stimulus, but the Federal Reserve has revised its projections, signaling the possibility of two interest rate hikes by the end of 2023, and discussions on tapering are on the horizon.

• The US infrastructure plan has encountered obstacles, and partisan divisions create uncertainty regarding the scale and efficiency of the overall plan.

• China's policy measures are gradually moving towards neutrality, seeking a balance between economic growth and financial stability.

• The government is utilizing administrative guidance and market mechanisms to curb the impact of raw material prices on business production and the national economy, with the ability to influence prices becoming a significant factor.

With all these questions in mind, we are breaking conventions and hosting the inaugural "Mingde Forum Semi-Annual Roundtable Conference." We have invited four renowned RUC alumni from the Chinese and American financial and investment sectors to discuss and analyze the "Inflationary Situation and Investment Strategies for the Second Half of the Year." Stay tuned for this exciting event.

Information

Date and Time:

June 26th, 8:00 pm - 10:00 pm (Eastern Time)

June 27th, 8:00 am - 10:00 am (Beijing Time)

Zoom Webinar

ID: 967 0376 8123

Passcode: 100872

Note: The Mingde Forum in North America adheres to the principle of openness and welcomes friends from all walks of life to participate in the discussions.

Panelists

李山泉

Mr. Li Shanquan, Senior Portfolio Manager at Invesco

Mr. Li Shanquan entered the National Economic Planning program at Renmin University of China in 1978. In 1982, he began working at the Economic Research Center of the State Council. In September 1987, he enrolled at Brandeis University in the United States to pursue a Master's degree in International Finance and Economics. During his studies in the United States, he was hired by Archon Investment Management Company, where he conducted research and practical investment management. In March 1991, he joined Wall Street and was employed by the renowned investment bank Brown Brothers Harriman in their Investment Strategy department as a Senior Analyst, focusing on investment strategy analysis and research. His creation of the "Dynamic Investment Analysis Method" achieved high returns and gained recognition in mainstream American society. In November 1995, he joined OppenheimerFunds as Senior Vice President and Senior Portfolio Manager, responsible for managing the firm's global equity investments.

Mr. Li Shanquan is the founding chairman of the Chinese Finance Association of the United States and a co-founder and board member of the Renmin University of China North America Alumni Association.

关宁

Ms. Guan Ning, Founding Partner and Chief Investment Officer at QuantScape Asset Management.

With over 20 years of investment management experience, Ms. Guan Ning has held positions such as Senior Quantitative Analyst at Ronald J. Krumm & Associates, Senior Analyst for Institutional and Alternative Investments at Morgan Stanley in Hong Kong, and Managing Director of Quantitative Investments at Pacifica Strategic Advisors. Over the course of her 15 years at QuantScape, she has been involved in various research projects and has published papers such as "Impact of QuantScape's Equity Index Program on a Diversified Portfolio" and co-authored "Investing in Private Growth Companies 2014" with Tony D. Yeh. Ms. Guan Ning is known for her distinctive investment strategy and style, particularly excelling in risk control through immunization strategies during challenging market conditions.

Ms. Guan Ning entered the Industrial Economics program at Renmin University of China in 1987 and went on to earn a Master's degree in Computer Science from the University of Illinois and a Master's degree in Finance (with a focus on portfolio risk management) from London Business School. She is a board member of the Renmin University of China North America Alumni Association.

朱宁

Dr. Zhu Ning, CFA, Managing Director at MacKay Shields and Portfolio Manager for HYLD.

Dr. Zhu Ning joined MacKay Shields' fixed income division at New York Life in 2019, where he manages global fixed income products. Prior to that, he was a Partner and Director of Investments at Phase Capital. Before co-founding Phase Capital, Dr. Zhu was a Portfolio Manager for multi-asset absolute return and tail hedging strategies at First Eagle Investment Management, an affiliate of Blackstone, where he was responsible for the global multi-asset and macro investment platform. Previously, he served as a Fund Manager and Head of Global Credit Product Strategy and Decision-Making at AllianceBernstein, overseeing $70 billion in global credit products, including enhanced alpha global macro, tail hedging, and unconstrained bond strategies, and also served as the Head of Absolute Return Research. Before joining AllianceBernstein, Dr. Zhu worked as a Senior Analyst at Solomon Brothers, focusing on global fixed income product modeling. He has extensive experience in research and management of cross-credit, currency and monetary trading strategies, and asset allocation.

Dr. Zhu Ning entered the Information School at Renmin University of China in 1989 and holds a Ph.D. from the University of Oxford. He is a visiting professor at the Gabelli School of Business at Fordham University and at Baruch College, City University of New York, teaching courses on quantitative finance and artificial intelligence. Dr. Zhu is an advisor to the Renmin University of China North America Alumni Association.

张瑜

Ms. Zhang Yu, Assistant Director of Huachuang Securities Research Institute, Head of Macro Economic Research, and Chief Macro Analyst.

Ms. Zhang Yu entered the School of Finance and Economics at Renmin University of China in 2008 and pursued her studies in Econometrics at the RUC Hanqing Advanced Institute in 2012. Ms. Zhang has served as a member of the Investment Decision Committee and Chief Macro Analyst at Minsheng Securities. She was also in charge of the Asset Allocation and Investment Strategy Research Center. In addition, she holds positions as a researcher at the International Monetary Institute of Renmin University of China, a part-time researcher at the Institute of Finance and Taxation of Renmin University of China, and an honorary researcher at the Economic Research Institute of City University of Macau. She is a guest commentator for global media outlets such as Global Tiger Finance, CCTV, Phoenix TV, Xinhua News Agency, and First Financial News.

Ms. Zhang Yu received several accolades in her career, including the first place in the inaugural Sina Golden Unicorn Macro New Analyst, Best Macro Economic Analyst by Securities Times, and top five rankings in Crystal Ball Best Macro Analyst and Sina Golden Unicorn Best Analyst in 2019. In 2020, she ranked fifth in New Fortune's Best Analyst, was among the top 30 analysts in Gold Bull's Most Valuable Analysts, and ranked fifth in Crystal Ball Best Analyst and Sina Golden Unicorn Best Analyst.

Mingde 2021 The North America Mingde Forum is a comprehensive platform established by the North America Alumni Association of Renmin University of China in 2015. It emphasizes openness and internationality, as well as a balance between academia and practicality. To date, it has successfully organized six annual conferences. In 2021, the Alumni Association will make full use of the convenience of online platforms to organize more virtual events. Through debates, discussions, and analysis, participants seek to deepen their understanding of various topics. The forum aims to promote personal growth and family harmony by learning from each other's strengths and weaknesses. Moreover, it aspires to contribute ideas and suggestions for the betterment of the nation, with the hope of benefiting the world at large.

Previous Highlights

Entrepreneurial Opportunities in the Chinese Education Market

Mingde 2021 Series Ten

Leveraging the Small Business Administration for Entrepreneurship in the U.S.

Mingde 2021 Series Nine

Career Development in the Public Sector and International Organizations

Mingde 2021 Series Eight

Symposium on the Deposit Insurance Systems in China and the United States

Mingde 2021 Series Seven

Lecture on Applying to U.S. Universities

Mingde 2021 Series Six

Interpretation of the Biden Administration's Immigration Policies

Mingde 2021 Series Five

The Mulan of Wall Street

Mingde 2021 Series Four

Blockchain and Cryptocurrencies

Mingde 2021 Series Three

GameStop Event Seminar

Mingde 2021 Series Two

Investment and Entrepreneurship in Today's World

Mingde 2021 Series One

Setting the Tone for the Chinese Economy with Three Key Words: Two Rounds of Discussions in the Post-Pandemic Era

Mingde Forum 2020

About "North America Alumni Association of Renmin University of China"

The North America Alumni Association of Renmin University of China (RUCNAAA) is a non-profit organization based on alumni relationships. It was initiated and established in 2014, officially registered in June 2015, and obtained tax-exempt status under section 501(c)(3) of the U.S. Internal Revenue Code in March 2018. Its headquarters are located in New York City, and it has a member network covering major cities in the United States and Canada. RUCNAAA's mission is to establish a communication platform for alumni to connect and share with each other, as well as to create more opportunities and channels for mutual benefits and career development for alumni around the world. In 2018, RUCNAAA was recognized as an "Outstanding Alumni Organization of Renmin University of China" by its alma mater.

In December 2018, former U.S. President Jimmy Carter sent a special letter to RUCNAAA, stating, "It is hard to imagine that a Chinese elite university like Renmin University could establish such an active and powerful alumni organization in the United States forty years ago. Through your alumni association, it is evident how much progress China has made and how investments in education can achieve remarkable results."

Alumni and friendly institutions are warmly welcomed to support the North America Alumni Association of Renmin University of China.