“Meet the Manager” Boardroom Lunch 2012

Seminar
Location: The Heritage Room, Intercontinental Hotel, 117 Macquarie Street, Sydney CBD

We invite select clients to our annual boardroom lunch to hear a fund manager of choice to provide their insights into the current economic environment.

We invite select clients to our annual boardroom lunch to hear a fund manager of choice to provide their insights into the current economic environment.

Guest speaker:

Guest Speaker – David Baker, Managing Partner (Baker Steel Capital Managers LLP)

David Baker is a managing partner at Baker Steel and heads the company’s Sydney office. Prior to founding Baker Steel in 2001, David was part of the award-winning Merrill Lynch Investment Management natural resources team, successfully managing the Mercury Gold Metal Open Fund, the largest precious metals fund in Japan, from its launch in 1995 until his departure in 2001. Prior to joining MLIM in 1992, David was a gold and mining analyst for James Capel Stockbrokers in London from 1988 and held a similar role at Capel Court Powell in Sydney from 1986 to 1988. David started his career in 1981 as a metallurgist at CRA Broken Hill, Australia. He holds a degree in mineral processing and a master’s in mineral production management from Imperial College, London

Topic:

David Baker – The Case for Gold

Whilst gold has had a stellar performance over the past 12 years it is still surprisingly under-owned, our argument is that as central banks continue to overpromise and under deliver their credibility will be called into question and their currencies will suffer as they inevitably print to devalue past and future obligations.  The final bill will end in all our pockets, but holding some gold in a diversified portfolio should help mitigate the ‘confiscation of wealth’ that is coming our way.  The seeds of inflation have been planted – be prepared!

Jai Parrab – provided a brief update on Profile’s outlook for financial markets and how portfolios are being positioned in light of the prevailing economic environment. Jai also discussed the current manager selection strategy being implemented in the portfolios, including the allocation to the Baker Steel Gold Fund.

Client comment:

Jai’s presentation style/format/content has become “the gold standard” (understanding that less is more), very impactful link between issue/fact & impact. This is the only way to present to such an audience. Best presentation yet! Sarah’s summary/wrap – insightful and excellent(DS)

Valuable, enjoyable presentations (GR)

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