Portfolio Adviser Spring Congress 2025

Five years on from the start of the Covid-19 pandemic, and almost 17 years after Lehman Brothers collapsed, volatility and uncertainty has well and truly returned to equity and fixed income markets.

A multi-year stretch of ultra-loose monetary policy from central banks post the global financial crisis has ended, meaning both asset class and macroeconomic themes are less predictable than they have been for some time. Amid a hotbed of potential headwinds and blind spots, how are fund managers protecting your clients’ money, and putting capital to work?

A word from our editor

Keynote

Neil Shearing

Group chief economist, Capital Economics

Neil has overall responsibility for managing Capital Economics team of economists and leading their research, as well as developing the firm’s products and its relationship with clients. He presents regularly on the global economic and financial market outlook. He is a well-known voice within the investment community and has written articles in the Financial Times and a number of other newspapers, as well as appearing regularly on TV and radio. Prior to becoming group chief economist, he was the chief emerging markets economist, managing a team that won several awards for forecast accuracy. He also managed the firm's New York office. He joined Capital Economics from HM Treasury where he worked as an economic adviser in various areas, including fiscal policy and global economics.

Panel debates

Fixed income panel

Nick Hayes

Head of active fixed Income allocation, AXA Global Strategic Bond Fund

AXA Investment Managers

Nick joined AXA Investment Managers in 2010 as a fund manager and took his current role, as head of total return and fixed income in 2020. Previously, he was head of sterling rates and credit for six years. Before joining AXA IM, he worked at Henderson Global Investors and New Star Asset Management.

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Ernst Knacke

Head of investment research

Shard Capital

Prior to joining Shard Capital, Ernst spent 12 years with what is now Quilter plc, in both the multi-asset team at Quilter Investors as well as the discretionary wealth management business, Quilter Cheviot. Before joining what was then still Old Mutual in 2008, Ernst spent 2 years at Goldman Sachs and Morgan Stanley in London

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Rebekah McMillan

Associate portfolio manager

Neuberger Berman

Rebekah joined Neuberger Berman in 2021. She is an Associate Portfolio Manager in the Multi-Asset team focusing on delivering customized multi-asset strategies and supporting clients through insights on market outlook, asset allocation and investment opportunities. Prior to joining the firm Rebekah spent six years as an investment consultant at Aon, working predominantly with U.K. institutional investors, advising clients on investment issues such as strategic and tactical asset allocation, direct investments, governance, fund manager selection and implementation. During her time at Aon, Rebekah did a secondment with the Global Asset Allocation team as a research associate focused on in-depth evaluation and monitoring of capital markets, including equities, vanilla and alternative credit, and alternatives.

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Global equities panel

John Husselbee

Head of the Liontrust multi-asset team

Liontrust

John is a fund manager and analyst with 38 years’ experience managing multi-asset, multi-manager funds and portfolios. John leads the investment team managing a range of target risk funds and portfolios as well as specialist managed investment solutions. Before joining Liontrust in 2013, John was a co-founder and CIO of North Investment Partners, a specialist investment boutique providing bespoke outsourced managed solutions working in partnership with financial advisers. Prior to co-founding North in 2005, he was Director of Multi-Manager Investments at Henderson Global Investors, joining in 1996.

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Alex Funk

Chief investment officer

PortfolioMetrix UK

Alex is a seasoned investment professional dedicated to creating investment strategies that support clients on their journey to achieve their financial goals. As Chief Investment Officer at PortfolioMetrix UK, Alex leads a talented team in navigating the complexities of global financial markets to deliver optimal outcomes across all portfolios. With over a decade of experience in the industry, Alex has held significant roles, including Chief Investment Officer at Schroder Investment Solutions and Benchmark Capital.

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George Ensor

Partner and portfolio manager, RGI UK Listed Smaller Companies Fund

River Global Investors

George is lead portfolio manager of the RGI UK Listed Smaller Companies Fund and the River UK Micro Cap Investment Trust. He joined RGI in 2014, was appointed lead PM of the closed-ended Micro Cap IT in 2018 and lead manager of the open-ended Small Cap fund in February 2022.

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After-dinner speaker

Michael Vaughan

Ex-England cricket captain

Michael consolidated his place in cricket history leading England’s historic Ashes victory in 2005 and has gone on to become one of the sport’s most respected commentators. With 18 Test hundreds and a then-record 26 wins as captain to his name, he retired as one of England’s most successful captains ever. After his playing career ended, he joined the Test Match Special team and became a commentator for both Channel 5 and BBC Radio 5 Live. His media work continues to grow, taking on a global dimension. Currently, Michael works for the BBC, Fox and Cricbuzz. He is also a regular contributor with The Telegraph.