04-08-2014 Emerging Market Debt: The Five Things You Need to Know

Tuesday, April 8th 2014

Vladimir I. Milev, CFA
Senior Vice President, Emerging Markets Strategist
Payden & Rygel

Chairs: Joyce Pang, CFA and Ryan Buckmaster,CFA

A Fixed Income Sponsored Group Event

Emerging market (EM) debt faces headwinds in 2014 in a reduced global liquidity environment, but the fundamental argument for EM debt still stands. This interactive presentation will focus on five main areas:

·       Country Differentiation is Key: “EM” is not one country, but more than 60, ranging in credit quality from AA to CCC.
         They will not trade as a monolith. 

·       Take a More Nuanced View to the "Fragile Five"… Labels are catchy, but they can mask important differences and lead to missed opportunities.

·       …or Create Your Own Label! We are proposing the “Future Four” and the “Solid Six”.

·       Pay Attention to the Politics: 2014 is an important election year across EM. Growing middle classes = more meaningful political contests.

·       Institutional Money will Drive Technicals: Investors are not abandoning the asset class. Recent flow data is misleading out of context.   

Speaker Bio:

Vladimir I. Milev, CFA
Senior Vice President, Emerging Markets Strategist
Payden & Rygel

Vladimir Milev, CFA, is a senior vice president and emerging markets strategist. As a member of the firm’s global emerging market group, he is responsible for sovereign credit research and analysis. A native of Bulgaria, Milev focuses on macroeconomic and political forecasting in Central and Eastern Europe.  

Previously, Milev was a financial analyst with Metzler/Payden, focusing on Central and Eastern Europe’s equity markets. Prior to that Milev was an emerging market bond trader. He is a member of the CFA Institute and the CFA Society of Los Angeles.

Vladimir Milev holds the Chartered Financial Analyst designation and the Financial Industry Regulatory Authority series 6 and 63 licenses. He earned a BA in Economics, Diplomacy and World Affairs from Occidental College in Los Angeles.

Vladimir is a frequent financial media guest, with multiple appearances on CNBC, Bloomberg, Fox Business News, and thestreet.com. Some of his previous speaking engagements include the CFA Society in Tucson, AZ, the American Institute of Certified Public Accountants in New Jersey, the National Association of Police Officers, and the Lido Consulting Investment Symposium.

As a participant in the CFA Institute Approved-Provider Program, the
CFA Society of Los Angeles has determined that this program qualifies
for 1 credit hours. If you are a CFA Institute member, CE credit for
your participation in this program will be automatically recorded in your CE Diary.

Registration Links:
CFALA Members: $20.00 (place cursor on amount for link)
Student Discount: $30.00 (Valid Student ID required at the event)
Non-members: $50.00 (place cursor on amount for link)

Date: Tuesday, April 8th, 2014

Time: 12:00pm – 1:30pm, Lunch

Location: Omni Los Angeles
251 South Olive Street
Los Angeles, CA 90071
For directions call hotel: (213) 617-3300
Event parking at the Omni $12.00

Dress Code: Business Casual

Payment Information:

Methods of payment accepted: Visa/Mastercard, American Express and Discover. If you prefer to pay by check please register online and select "purchase order" as your payment option and enter your last name as the purchase order number. Mail check to: CFA Society of Los Angeles, 520 S. Grand Ave, Suite 370, Los Angeles CA 90071.

*Credit card payments will only be accepted through the secure online registration, and not by phone or email.


Cancellations must be received in writing by 9:00 am the day prior to the event. No phone cancellations are accepted. Please fax to the CFALA office at (213) 613-1233 or e-mail info@cfala.org. Member “no-shows” will be billed the non-member fee ($50) for the event which is posted on the CFALA website.


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