Investment Fund Conference - London Stock Exchange Group€¦ · 03 Issued by the Association of...

Wednesday 20th March 2019 London Stock Exchange

Investment Fund Conference

In Partnership with Sponsored by

#LondonFunds

The World’s Leading Investment Fund Market

30%Proportion of total IPO capital on the London Stock Exchange raised by Investment Funds in 2018

$220bnMarket Value of Investment Funds on the London Stock Exchange

>$40bnCapital raised by Investment Funds over the last 5 years

31%UK

10%Property

7%Private Equity

3%Hedge Funds

12%Debt

8%Asia Pacific

5%Emerging Markets

2%Europe

10%Global

8%Sector Specialist

3%Infrastructure

1%North America

450+Investment

Funds

Source: London Stock Exchange, Numis Investment Companies Research, Dealogic, Factset. Note: The UK sector encompasses VCTs.

For more information please get in touch with our funds team at [email protected]

Diverse investment mandates across asset classes and geographies

How to interact

The Investment Fund Conference is an interactive event. During the event we will be asking the audience multiple choice questions to help fuel the debate.

To participate go to:Website: www.sli.do

Enter the event code: LondonFunds

Please wait for the questions to vote.

During the panel, if you would like to direct any questions to the moderator, please follow the instructions to do so. #LondonFunds

Investment Fund Conference 2019 0201 Investment Fund Conference 2019

12:10 MIV – Italian Market for Investment VehiclesPatrizia Celia Head of Large Caps, Investment Vehicles and Market Intelligence, Borsa Italiana

12:25 Overview and Updates of the J-REIT MarketHideki Tomita Chief Representative in Europe, Japan Exchange Group

12:40 Importance of Ethical InvestmentLord Hastings Global Head of Corporate Citizenship, KPMG

12:55 Closing RemarksDr Robert Barnes Global Head of Primary Markets and CEO of Turquoise, London Stock Exchange Group

13:00 Lunch

Day Moderator Shrey Kohli Director, Fixed Income and Funds, London Stock Exchange plc

08:30 Registration, Coffee & Networking Breakfast

09:00 Welcome SpeechNikhil Rathi CEO, London Stock Exchange plc

09:10 Investment Fund Sector UpdateEwan Lovett-Turner Director, Investment Companies Research, Numis

09:25 London Stock Exchange Investment Fund MarketDr Darko Hajdukovic Head of Analytics, Fixed Income and Funds, London Stock Exchange plc

09:40 Panel: Investor Landscape for Listed Funds in 2019/20– Overview of 2018 – Discount level trends – Impact of recent regulatory changes

Moderator: Rob Murphy Managing Director, Edison

Panel: Alex Denny Head of Investment Trusts, Fidelity International Simon Gordon Director, Fund & Corporate Services, JTC Alex Haynes Partner, Stephenson Harwood Gillian Martin Director, Liberum

10:20 Issuer Services PlatformTom Hinton Head of Issuer Services, London Stock Exchange plc

10:35 Networking Brunch

11:15 What Makes Closed-End Funds Attractive to Investors?David Coombs Head of Multi-Asset Investments, Rathbones Investment Management

11:35 Shifting Sands: Changing Regulatory PerspectivesGuy Rainbird Public Affairs Director, AIC

11:55 New Investment Fund Asset Classes – Music Royalty Merck Mercuriadis CEO, Hipgnosis Songs Fund

Agenda


AIC

The Association of Investment Companies (AIC) is the trade body for closed-ended investment companies. We represent investment trusts, offshore investment companies, REITs and Venture Capital Trusts (VCTs).

The AIC helps member companies to deliver better returns for their investors through a variety for activities:

– Lobbying – we work with regulators and government departments to develop the best tax and legal environment for members and their shareholders.

– Promotion – our communications team works with the media and opinion formers to promote investment companies to investors and financial advisers.

– Technical guidance – we keep our members informed of legal and regulatory changes and provide advice and guidance on how to comply with them.

– Events and training – we hold regular conferences, seminars and roundtables for members on key issues and run training courses for both members and financial advisers.

– Statistics – we calculate and publish detailed information on member investment companies.

– Online – our website, www.theaic.co.uk, is used by thousands of investors, financial advisers and journalists to get up-to-date information, news and videos about investment companies.

If you would like to find out more about investment companies or the AIC, please visit our website or contact [email protected] and 020 7282 5555.

theaic.co.uk

Partner

Helping members deliver better returns for investors

Issued by the Association of Investment Companies. Registered office: 9th Floor, 24 Chiswell Street, London EC1Y 4YY.

If you would like to find out more about investment companies and the AIC, please visit www.theaic.co.uk or contact us at [email protected] or call 020 7282 5555.

The Association of Investment Companies (AIC) is the trade body for closed-ended investment companies.

Through a range of activities, we help our members achieve their full potential:

• Lobbying

• Promotion

• Technical guidance

• Events and training

• Statistics

• Website

J13177 AIC LSEF Conference Ad A5 AW 1.indd 1 1/31/19 10:14 AM

Issued by the Association of Investment Companies.

Registered office: 9th Floor, 24 Chiswell Street, London EC1Y 4YY.

This information does not constitute investment advice or personal recommendation and it is not an invitation or inducement to engage in investment activity. You should seek independent financial and, if appropriate, legal advice as to the suitability of any investment decision. Past performance is not a guide to future performance. The value of investment company shares, and the income from them, can fall as well as rise. You may not get back the full amount invested and, in some cases, nothing at all.


JTC

JTC has expertise in the administration of both traditional and alternative asset classes with a strong focus on private equity, real assets comprising of real estate, infrastructure and renewable energy, hedge and debt. We also specialise and have built expertise in more niche sectors such as FinTech including crypto and ICOs.

We have a wealth of experience administering listed structures including companies and funds listed on the London Stock Exchange (LSE), AIM, Euronext, Irish Stock Exchange (ISE) and the International Stock Exchange (TISE).

We also offer solutions to administer the related entities such as purpose vehicles, trusts, management companies and carry vehicles and support our clients with international regulatory and reporting standards.

Founded in 1987, we have c.650 people working across our global office network and are trusted to administer assets of US$100 billion.

The principle of true shared ownership is fundamental to our culture and aligns us completely with the best interests of our clients.

jtcgroup.com

KPMG

KPMG’s Global Investment Management practice of over 10,000 professionals offer specialised services to a wide range of industry clients at regional, national and global levels. With detailed knowledge of relevant country-specific regulatory and economic considerations, KPMG professionals deeply understand the business of investment managers in providing advice to clients. Our member firms’ professionals have experience in a wide range of asset classes, ranging from equities and fixed income to real assets such as infrastructure, real estate and private equity investments.

The specialist Investment Management team at KPMG in the Channel Islands is a key element of the global practice. It combines comprehensive knowledge of the local legal and regulatory environment with the global network’s cross-border experience to deliver practical, effective and insightful advice making us the clear choice in our local and global market.

We work together with our clients, including investment managers, wealth managers and fund administrators with a particular focus on private equity funds, infrastructure funds, real estate funds, hedge funds and other alternative investment funds, to inspire confidence and empower change.

KPMG is a global network of professional services firms providing Audit, Tax and Advisory services. We operate in 153 countries and territories and have 207,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

kpmg.com/channelislands

STEPHENSON HARWOOD

Our listed investment companies team has a pre-eminent position in the sector, advising investment managers, sponsors and investment banks that trust us to provide them with prompt, high-quality advice and solutions. Our significant experience and market knowledge gives us a comprehensive understanding of the issues. We make a valuable contribution to the success and development of our clients’ businesses.

Our listed investment companies team acts for over 50 listed investment companies, more than any other UK law firm.

Developing new products and service lines is vital to the continued success of every business. We are experienced in assisting with all aspects of the planning, regulatory approvals and implementation processes related to the development of new financial products and services both in the UK and overseas.

We are highly regarded for our work with listed investment trusts and offshore investment companies and have significant experience of IPOs and secondary issues in the sector as well as other corporate actions and capital markets advisory work. We draw on our expertise across a number of asset classes to provide the tailored support that managers and promoters require to meet their objectives.

shlegal.com

Sponsors


How do I log in?In order to gain access to Issuer Services, you will need to register with us.

First-time users will need to register at Issuer Services via [email protected] or click ‘Email Us’ at the Issuer Access. The Issuer Services platform can be accessed via www.lsegissuerservices.com

For registered users, a Magic Link will be sent from [email protected] to the registered email address. The new Magic Link will need to be used every time you log off.

How can I add users?

Click on the wheel in the top right-hand corner to add a colleague and designate

them one of the following roles:

— Administrator – can add colleagues and edit the company profile page

— Editor – can edit the company profile page but not add colleagues

— User – can only view the contents of the platform.

This can be done by simply adding the individual’s email address and sending.

The portal requires an individual at each of the issuers to be an Administrator. Once registered, the Administrator can invite colleagues to use the platform.

What can I do after I log in? 1. Edit your company profileLSE is the only exchange in the world to give issuers access to update their profile pages. Add any media and content you like, including social media, to connect with customers and investors.

London Stock Exchange’s Issuer Services is a new online portal designed to give issuers access to a wide range of products, services and content. This new digital platform allows issuers to create their own story for the investors community, whilst also accessing all London Stock Exchange Group services in one place.

Sign inEnter the email address registered with us to receive the Magic Link.Not registered with Issuer Services?

Email Us

Email address

Send Magic Link

Issuer Services

2. Access your dataNot only showing the real-time data, we are the only exchange in the world to share Artificial Intelligence analysis insights with our issuers through partnership with Irithmics. This gives you the tools to be proactive and reactive to your share price.

3. Discover LSEG servicesSet up in a simple, understandable way for issuers to use our LSEG services with exclusive offers to most of our issuers.

4. Find out more about Marketplace companiesMarketplace is a repository for services which are relevant to our issuers. It is an online business to business, vetted by the Issuer Services team, presented and curated for the issuers.

5. Watch inspiring contentSpark is a thought leadership platform through digital and events with a diverse group of advisors, investors and companies. Digital knowhow and thought leadership content you can author and distribute to circa 2 million unique visitors per month.

What will viewers see?The viewers will see the branded pages of the company, consisting of:

1. Company overview2. About3. Prices and trades4. Fundamentals

Magic LinkAccess to these services through the Issuer Services platform will not be possible without registering for the Magic Link.

Contact usIf you have any further questions, please contact the Issuer Services Team.

Telephone +44 (0)20 7797 [email protected]


Dr Robert BarnesGlobal Head of Primary Markets and CEO of Turquoise, London Stock Exchange Group

Robert Barnes is Global Head of Primary Markets at London Stock Exchange Group and CEO of Turquoise, the European multilateral trading facility majority owned by LSEG in partnership with the

user community. Prior to joining Turquoise LSEG in 2013, Robert worked at UBS for more than 19 years, including as Managing Director Equities and founding CEO of UBS MTF. His industry roles include serving 2004-2009 as Chairman of the Securities Trading Committee of the London Investment Banking Association. Robert holds a BA from Harvard, a PhD from Cambridge, and is a Chartered Fellow of the Chartered Institute for Securities & Investment.

David CoombsHead of Multi-Asset Investments, Rathbones Investment Management

David Coombs is Head of Multi-Asset Investments and joined Rathbones in 2007. He is a member of Rathbones’ Investment Executive Committee as well as the Strategic Asset Allocation

Committee. David is responsible for developing our investment propositions for national financial advisory firms and networks. He is the lead manager for the Rathbones Multi-Asset Portfolio Funds and the offshore Luxembourg-based Sicavs. He is also co-manager for the Rathbones Strategic Bond Fund. David previously worked at Barings for almost 20 years where he managed institutional and private clients via pooled vehicles and segregated accounts. He joined Barings in 1988 from Hambros, where he managed multi-manager portfolios for private clients. David is an Associate of the Chartered Institute of Financial Services.

Patrizia CeliaHead of Large Caps, Investment Vehicles and Market Intelligence, Borsa Italiana

Patrizia Celia during her career at Borsa Italiana has developed a comprehensive experience in Equity Primary Markets, from Mid & Small Caps to Large Corporates, SPACs, Closed-Ended Funds and other

Investment Vehicles, working at the beginning with very small enterprises on AIM Italia and mid-size companies on the STAR Segment and more recently with global leaders with Italian roots belonging the FTSE MIB index. Together with leading domestic and international banks and advisers she has been directly involved in some of the most important Italian IPOs and corporate transactions covering a wide range of clients, industries, sizes and stakeholders. Patrizia contributed to the launch of the SPAC model in Italy and is now running a special project dedicated to position MIV as the Italian regulated market dedicated to listed Alternative Investment Funds and other special investment vehicles.

Alex DennyHead of Investment Trusts, Fidelity International

Alex Denny is Head of Investment Trusts at Fidelity International and a trustee of the FIL UK Pension Plan. Alex is responsible for the distribution and product management of Fidelity’s five closed-ended Investment

Trust funds, totalling £3.5 billion pounds. Alex has fifteen years’ experience in Investment Management with broad experience in Business Management, Sales, Marketing, Project Management and Customer Service. Alex is also a trustee of the UK Charities MARINElife and The Nautical Archaeology Society, and has honours degrees in Law and Chemistry from The University of Bristol.

Speakers

L E A D I N G T O G E T H E R

We have expertise in the administration of both traditional and alternative asset classes with a strong focus on private equity, real assets comprising of real estate, infrastructure and renewable energy, hedge and debt. We also specialise and have built expertise in more niche sectors such as FinTech including crypto and ICOs.

We pride ourselves on the relationships we build with our clients, and as an independent, award-winning fund provider, we know we’ll be the perfect partner for you.

S I M O N G O R D O N Director - Fund & Corporate Services T: +44 203 846 9772 M: +44 7738 410 069 E: [email protected]

Y O U R F U N D S P A R T N E R

jtcgroup.com/funds

AFRICA • AMERICAS • ASIA-PACIFIC • BRITISH ISLES • CARIBBEAN • EUROPE • MIDDLE EAST

F U N D S | C O R P O R A T E | P R I V A T E W E A L T H

Information on JTC and its applicable regulators can be accessed via www.jtcgroup.com

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Dr Darko HajdukovicHead of Analytics, Fixed Income and Funds, London Stock Exchange plc

Darko Hajdukovic is Head of Analytics, Fixed Income and Funds for the London Stock Exchange’s Capital Markets responsible for primary market offering for international companies, debt and investment funds.

Darko has extensive experience in equity and fixed income transactions on public markets. Darko joined the Exchange in 2007 as Debt product manager looking after primary fixed income business. Before joining the Exchange, he was an independent consultant specialising in financial regulation and regulatory economics. His previous engagements include working for the European Commission and DLA Piper, where he focused on various projects assessing the effectiveness of the EU regulation and its impact on the economic development. He also acted as a consultant on several privatisations in Central and Eastern Europe. Darko holds a doctorate in economics from University of London. Darko is a member of the Royal Economic Society.

Lord HastingsGlobal Head of Corporate Citizenship, KPMG

Lord Dr (Michael) Hastings of Scarisbrick CBE is Global Head of Citizenship for KPMG International. Michael began his career as a teacher moving into government service in 1986 supporting policy initiatives to bring

employment and development to Britain’s inner cities. In 1990 he started working for TVAM on education programming and then GMTV as its Chief Political Correspondent. In 1994 Michael moved to the BBC as a presenter on the weekly Around Westminster programme before joining its Corporate Affairs division. In 1996 he became the BBC’s head of Public Affairs and then its first head of Corporate Social Responsibility in 2003 before becoming KPMG international’s Global Head of Citizenship in 2006. Michael is a Trustee of the Vodafone Group Foundation and a Vice President of UNICEF UK and Tearfund. He is also a Patron of Free the Children and a Director of Junior Achievement Worldwide. In 2014, Michael was conferred with a Doctorate in Civil Law from the University of Kent, Canterbury in recognition for his leadership at KPMG, the BBC and for his work in international development and corporate responsibility. In 2017 Michael was installed as the Chancellor of Regent’s University London. Michael joined the board in 2016.

Tom HintonHead of Issuer Services, London Stock Exchange plc

Tom Hinton joined the LSE in March 2017 to head up the Issuer Services project. Since he joined he has been responsible for delivering a new platform for issuers which is focused on connecting issuers with data, services

and content. Tom has over 10 year experience working in capital markets both in the ECM team at Citi and as a solicitor at Ashurst. Tom also spent some time working at a fintech start up helping them understand public capital markets transactions. During this time Tom pioneered a new approach to offering equity to retail investors.

Simon GordonDirector, Fund & Corporate Services, JTC

Simon Gordon joined JTC in 2015 following the acquisition of Kleinwort Benson’s Fund Administration business and has over 17 years’ experience in financial services. He is a Director within the Institutional Client

Services Division. Based in London, he has responsibility for cross jurisdictional business development initiatives and maintains a number of key client relationships. Simon is primarily involved in the provision of administration services for corporate structures and investment funds including authorised open ended funds, stock exchange listed funds and private funds. He has expertise in all asset classes but in particular alternative assets such as private equity, debt, real estate and infrastructure. He also has a number of years’ experience of working at a senior level within the global funds custody division of a private bank.

Speakers


Alex HaynesPartner, Stephenson Harwood

Alex Haynes, as a partner within the firm’s highly regarded investment funds team, Alex supports clients across the investment management sector in seeking to achieve their aims. Clients value his highly

commercial & pragmatic approach. Alex advises on the establishment of, raising funds for and reconstructions/reorganisations of investment funds in the UK & offshore as well as acquisitions & disposals, equity capital markets advisory, public takeovers & other corporate finance transactions for clients in the investment management sector. Alex’s practice also encompasses financial services regulation, particularly in investment management. His clients include listed & private funds, investment managers, investment banks and brokers.

Shrey KohliDirector, Fixed Income and Funds, London Stock Exchange Plc

Shrey Kohli is responsible for LSE plc’s Fixed Income and closed-end funds franchise, with a focus on attracting international companies & investors to London’s capital markets. At LSEG

since November 2010, Shrey has covered roles across Product Development for Secondary Markets, Regulatory Strategy and Government Relations, and was most recently Head of Strategic Development for LSE plc. During 2018–19, Shrey was seconded to International Finance Corporation in Singapore and Washington DC, as Financial Officer in IFC’s Treasury and Syndicationsdepartment. He holds an MSc in Finance and Economics from the London School of Economics & a BSc (Hons) in Physics from St Stephen’s College, University of Delhi.

Ewan Lovett-TurnerDirector, Investment Companies Research, Numis

Ewan Lovett-Turner is a Director in Numis Securities’ Investment Companies Research team. He has 15 years’ experience in Investment Companies, covering Equity and Alternative ICs, including a specialism

in Alternative Debt funds. Prior to joining Numis in 2008, Ewan qualified as an ACA at Grant Thornton. Numis is a leading independent brokerage specialising in advising and trading UK equities through a research

driven approach. It has a well-resourced Investment Companies team of 21 professionals providing research, sales, market making and corporate advice on listed funds to a broad client base. The research team was #1 in the latest Extel Survey for Alternative Investment Funds.

Gillian MartinDirector, Liberum

Gillian Martin is a Director in the Investment Banking Team at Liberum responsible for Investment Funds. Gillian has over 15 years City experience, with previous roles in the Corporate Advisory Teams at N+1 Singer

& Fairfax I.S. Gillian has expertise in leading all types of transactions including IPOs, secondary fundraisings and public M&A across AIM & Main Market at LSE. Gillian started her career at law firm Lawrence Graham, where she qualified as a Corporate Finance lawyer. Gillian holds a BA degree in German and Russian from the University of Sheffield and a Postgraduate Diploma in law.

Merck MercuriadisCEO, Hipgnosis Songs Fund

Merck Mercuriadis is a Canadian-American music executive and music manager. He is CEO, Founder and managing partner of Hipgnosis Songs Ltd, an artist management firm, publisher, and record

label based in London & Los Angeles. Mercuriadis is the manager of music legend Nile Rodgers and the former manager of several notable rock and pop bands and musicians including Sir Elton John, Guns’N’Roses, Iron Maiden, Morrissey, Pet Shop Boys, Macy Gray, Mary J. Blige, Joss Stone and Jane’s Addiction.Mercuriadis is notable for serving from 1986-2007 as Director & CEO of The Sanctuary Group PLC, a major management company, an independent record label, a merchandise company (Bravado)and booking agency (Helter Skelter now CAA UK) based in London, New York and Los Angeles. Most recently, Mercuriadis is the Creator and Founder of the Hipgnosis Songs Fund, LTD, which has raised over $300 million in investment capital and has acquired hit songs and copyrights, including Beyonce’s ‘Single Ladies (Put A Ring On It)’, Rihanna’s ‘Umbrella’, Kanye West’s ‘All Of The Lights’, Justin Beiber’s ‘Baby’, and Jay-z’s ‘Holy Grail’ featuring Justin Timberlake, among other songs. Nile Rodgers is a co-founder of the Fund and sits on the Advisory Board.

Speakers

Awarded Corporate Legal Team of the Year at the Legal Business Awards 2018

www.shlegal.com

Legal opinion, clearly expressed Pragmatic, expert advice that is squarely set in the real world.

For more information, please contact:

Alex HaynesPartner

T: +44 20 7809 2003E: [email protected]

Elizabeth FieldPartner

T: +44 20 7809 2143 E: [email protected]

William SaundersPartner

T: +44 20 7809 2138E: [email protected]


Rob MurphyManaging Director, Edison

Robert Murphy prior to joining Edison in March 2016 was a managing director of equity research at HSBC London, where he led the coverage of the major global investment banks. Over the past 25 years,

Robert has held analyst and fund manager roles specialising in the global financials sector at Gladstone Partners, Merebis Capital, GLG Partners and Gartmore, Robert began his career as a Graduate Trainee at Henderson Global Investors, before joining J.P. Morgan Investment Management as an analyst covering European Banks and Real Estate.

Guy RainbirdPublic Affairs Director, AIC

Guy Rainbird is the Public Affairs Director of the AIC, responsible for managing its government relations, wider lobbying activity and provision of technical assistance to members and other

stakeholders. Current priorities include securing a suitable corporate governance environment, tackling the problems created by Key Information Documents, ensuring that intermediaries give proper consideration to the sector when considering client recommendations and promoting investment companies as part of the solution to political demands for more direct investment in small and growing businesses and infrastructure. His role also includes leading the AIC’s engagement with the policy and technical challenges raised by the UK’s impending withdrawal from the EU. Guy previously worked in consultancy, where he acted as an external adviser to the Association for over five years and specialised in financial services matters.

Nikhil RathiCEO, London Stock Exchange plc

Nikhil Rathi was appointed as Chief Executive Officer of LSE plc in September 2015. He also has Group-wide responsibilities for International Development. He is a member of the LSEG Executive Committee.

He joined LSEG in May 2014 as Director of International Development and Chief of Staff from the UK Treasury, where he held a number of senior positions over an eleven year period. Most recently he was Director of the Financial Services Group, representing the UK Government’s financial services interests in the EU and internationally. He served as the UK representative on the EU Financial Services Committee. Prior to that, he was Head of the Financial Stability unit, overseeing a number of the UK’s financial stability interventions during the crisis. Nikhil also served as Private Secretary to the UK Prime Minister for three years from 2005 to 2008.

Hideki TomitaChief Representative in Europe, Japan Exchange Group

Hideki Tomita has been in his current position since last July. His main roles at the London Representative Office are to research European securities markets and to introduce JPX listed products such

as Japanese equities, ETFs, REITs, and derivatives to European institutional investors and brokerage firms. Prior to joining the London office, he experienced roles in a variety of different areas of JPX, including business planning for derivatives, settlement, listing, market surveillance and legal, before taking on a year’s secondment at the European Bank for Reconstruction and Development (EBRD) in London. He holds a degree in Economics from Tokyo University and started his career at Tokyo Stock Exchange (TSE) in 1999.

Speakers

Connecting companies with capital

ELITE is a full-service programme for ambitious, inspiring companies that want to further their growth.

ELITE is a vibrant community of entrepreneurs, business leaders, advisers and investors from around the world.

We are proud to support Inspiring Companies.

Share success, do business, make connections.

@_ELITEGroup_ #weareELITE

www.elite-network.com

London Stock Exchange 10 Paternoster SquareLondon EC4M 7LSTelephone +44 (0)20 7797 1000

lseg.com

Dr Darko HajdukovicHead of Analytics, Fixed Income and Funds+44 (0)20 7797 [email protected] Shrey KohliDirector, Fixed Income and Funds+44 (0)20 7797 [email protected] Akhil SureshFunds Analyst+44 (0)20 7797 [email protected] Sarah EllenaPrimary Markets+44 (0)20 7797 [email protected]

Investment Fund Conference - London Stock Exchange Group€¦ · 03 Issued by the Association of...

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Transcript of Investment Fund Conference - London Stock Exchange Group€¦ · 03 Issued by the Association of...