[Webinar] Risk and reward, a balanced portfolio to sail through volatility Complete

Events Details (Code: 210427LU-FTX)

Recorded Playback
If you are interested in viewing the recorded playback. 
 with access password: 0lmz=?n!
To get the presentation material of Dr. Milo Liu, Investment Director & Head of Research of AJ Asset Management Ltd, please download here

Our FinTech and New Economy Committee is pleased to have invited Dr. Milo Liu, Investment Director & Head of Research of AJ Asset Management Ltd, to share with us his expertise in healthcare industry.

With the effect of Chapter 18A of the HKEX Listing Rules and the rising trend of overseas students returning back to China to start businesses, a large number of unprofitable healthcare start-ups have come to list on the Hong Kong Stock Exchange. In recent years, these high-valued and high-growth companies have become hot spots.
There are many sub-sectors within healthcare industry, including pharmaceuticals, biotech, distributions, CRO/CDMO, medical equipment, etc. 
Due to the uniqueness of business, healthcare companies have their own characteristics of valuation methods. DCF plus pipeline or multiples comparison are two most commonly used valuation method for healthcare industry. 
Since the beginning of 2021, given the uncertainty of external macro environment (such as mass vaccination, economic recovery expectations, inflation expectations, shrinking balance sheet expectations, etc.), the valuation of healthcare sector has fluctuated significantly. To learn more about the potential healthcare investing opportunities based on fundamental research, welcome to join us on the coming seminar.

(Language 語言 : Chinese/Mandarin 普通話 / 中文)

    (You will be directed to the registration platform of Zoom.)

  • CPT Attendance Letter is complimentary for Members. NO REQUEST APPLICATION IS NEEDED.
  • If you are a Non-member and would like to request for getting CPT Attendance Letter after the webinar, please click the button below to complete the request application and payment by 26 April 2021.
About the Speaker

Dr. Milo Liu
Investment Director & Head of Research 
AJ Asset Management Ltd
  • Mr. Liu spent a total of 9 years of his 13 years of work experience focused on the healthcare industry, with extensive knowledge in pharmaceutical (including biotech), services, and distribution industries;
  • Before serving as Investment Director of AJAM, he was the head of AJ Securities’ research department, focusing on in-depth research on the pharmaceutical sector. Initiated and maintained a total of 17 coverage including 6 biotech and 11 pharmaceutical companies;
  • Worked in many bulge-bracket and reputable Chinese firms, including BoAML, HSBC, BOCOM and China Merchants Securities International, etc;
  • Hold Ph.D degree in Economics from Nankai University.
  • 13年的工作經歷中9年主攻醫藥行業, 對製藥(包括生物醫藥), 醫療服務以及分銷等子行業具有豐富的行業知識 
  • 任職此職位前為安捷證券研究部主管,重點對醫藥行業進行深入研究,團隊覆蓋17家醫藥上市公司, 其中包括較具有代表性生物科技類公司以及CRO/CDMO類 
  • 曾在多家外資中資公司工作,包括美林(新加坡)、滙豐、交銀國際以及招商證券(國際)等
  • 持有南開大學經濟學博士學位

Rating - General 
Material presented will be basic and of interest to a general audience having no background in the area. 

CFA Societies Global Passport Program

CFA Society Hong Kong has participated in the CFA Societies Global Passport Program which allows CFA society members to enjoy local society member rate at selected events like this luncheon.  Members of non-CFA Society Hong Kong CFA Institute societies qualify to attend this event at CFA Society Hong Kong member rates.  Please contact CFA Society Hong Kong at [email protected] to register

This Webinar is a complimentary event for all participants (including Members, Candidates and Non-members).
Members will be entitled to receive CPT Attendance Letter at NO extra costs after attending the FULL webinar, whereas Non-members will have to pay @$150 for getting the Attendance Letter.  Please see below for further details.

CPT Attendance Letter
Complimentary CPT Attendance Letter for members of CFA Society Hong Kong only.  
For Non-members, after registering for the webinar, to request for CPT Attendance Letter, please click here to complete the request application and payment(@$150).  
  • Request for CPT Attendance Letter will only be accepted on or before 26 April 2021 upon successful payment of $150.
  • Participants who fail to submit the request for CPT Attendance Letters and/or complete the payment @$150 will not be awarded of the Attendance Letter. 
  • No make-up applications and payments will be processed after 26 April 2021.
  • CPT Attendance Letters will not be awarded to participants who fail to attend the full webinar. The $150 paid will NOT be refunded. 
To qualify for CPT/CE hours, all participants (members and non-members) must attend the full webinar.  After the webinar, Society staff will verify participants’ check-in and check-out time from the registration system for the purpose of issuing CPT Attendance Letters.  No pro-rata credit hours will be awarded.

Other Details:

* CFA Societies Global Passport Program Eligible
- The webinar link and email confirmation will be sent to registrant upon successful online registration. 
- A webinar reminder will be sent out 1 day before the event. If you have not received the email confirmation and reminder, it is the delegate's responsibility to contact CFA Society Hong Kong to confirm their place.
- The webinar will be conducted on Zoom.
To qualify for CPT/CE hours, participants must attend the full webinar.
- Please log in the webinar link 10 mins in advance of the session start time to allow some time to solve the technical issues (if any) and the webinar will start promptly at 12:30 pm.
- For attendance-taking purpose, participants’ names and company names (if any) may be given to the speaker of this event.
- CFA Society Hong Kong will closely monitor and assess the ongoing situation of COVID-19 in the community.  Should there be any changes to the event dates and other arrangements, we will notify participants via SMS and/or email.  Notices will also be posted on Society’s website.  Please stay alert with our notifications.
- The event organizers reserve the right to change the format, date or speakers of the event due to unforeseen circumstances without prior notice.
- In case of dispute, the decision of CFA Society Hong Kong is final, and no further correspondences will be entertained.