Fear vs Fact

Investors are wrestling between fear and fact at this juncture of the economic cycle. Negative rates. Inverted yield curves. Downbeat sentiment. Will central banks delay tightening or add more stimulus? Is it risk on or risk off?

How should investors react? Go broad and diversify? Or focus on concentrated themes?

With in-depth research and scenario analysis, we consider the portfolio implications of these strategies for different asset classes. Already our findings are revealing some surprising conclusions.

We look forward to sharing the final results and hearing your views at the event.

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- 09:30am
- 09:35am
Wim van Zwol , Head of Benelux & Nordics, Vanguard
- 10:00am
Rising recession risks: Economic outlook
Dr Peter Westaway, Chief Economist & Head of Investment Strategy, Europe, Vanguard

What will tip us into recession? Peter discuss the sources of risk that increase the likelihood of recession. From US-China tariffs and trade tensions, to German manufacturing weakness dragging down Europe, and uncertainty about central bank policy options, there’s a lot to consider. Peter highlight current key risks for investors and the issues in which Vanguard differs from consensus.
- 10:30am
Reconciling fear and fact: Making sense of market sentiment
Viktor Nossek, Head of Sales Strategy, Europe, Vanguard

Viktor’s valuation analysis reveals insights into what’s driving market sentiment. He explores equity and bond strategies that can add diversification and those that concentrate on specific themes to see which will help position portfolios for these challenging times.
- 11:00am
Diversification or concentration?
Andreas Zingg, Head of ETF Sales Specialists Europe, Vanguard

Andreas delves into the implementation of specific strategies. Among fixed income, he considers regional and global approaches to investment-grade bonds and the key to unlocking their potential. Within equities, he demonstrates how focused factor strategies can be globally diverse.
- 11:05am
Closing remarks
Wim van Zwol
- 11:30am
Networking & Refreshments


Wim van Zwol Wim van Zwol
Head of Benelux & Nordics, Vanguard

Wim van Zwol joined Vanguard in April 2007 as Head of Benelux and Nordics at Vanguard. Before coming to Vanguard, he was with a Dutch custodian bank for almost ten years. Mr. Van Zwol earned an engineering degree from Eindhoven University of Technology, where he studied industrial engineering and management science. He is a member of the of CFA Society Netherlands.
Peter Westaway Dr Peter Westaway
Chief Economist & Head of Investment Strategy, Europe, Vanguard

Dr Peter Westaway, PhD, is chief economist and head of Vanguard Investment Strategy Group, Europe. Dr Westaway was previously chief economist, Europe, for Nomura International and a senior official at the Bank of England. Dr Westaway earned a PhD in economics and an MPhil in control engineering and operational research from the University of Cambridge, and a BSc in mathematics and economics from the University of York. He is a visiting professor at Queen Mary University of London.
Viktor Nossek Viktor Nossek
Head of Sales Strategy, Europe, Vanguard

Viktor Nossek joined Vanguard in 2018 as Head of Sales Strategy. He is responsible for creating and developing ETF-related research and thematic content for our European business. Previously, Viktor spent five years at WisdomTree Europe, where, as head of the research desk, he published extensively on the investment theses behind smart beta ETFs and leveraged and short exchange-traded products. He is fluent in three languages and he holds a Master’s Degree in Economics from Maastricht University in the Netherlands.
Andreas Zingg Andreas Zingg
Head of ETF Sales Specialists, Europe, Vanguard

Andreas Zingg joined Vanguard in 2010 as Head of ETF Sales Specialists Europe at Vanguard Asset Management. Prior to assuming his current role, he was Head of iShares Sales Middle East & Africa and Head of iShares Sales for the German-speaking parts of Switzerland at BlackRock. Andreas Zingg worked for UBS Global Asset Management, most recently as Senior Product Specialist for UBS ETFs. He began his career as project manager with McKinsey & Co. in Zurich, where he was responsible for leading projects with a particular focus on the areas of corporate strategy, business transformation and distribution strategies for clients in the financial sector. Andreas studied economics and finance at the University of St. Gallen and has earned a PhD in Business Administration from the University of St.Gallen in 2009.


Concertgebouw, Concertgebouwplein 10, 1071 LN, Amsterdam


If you have any questions about this event, please contact us on uk.events@vanguard.co.uk
We look forward to hearing from you.