July 2015 Luncheon Meeting

Investment Implications of PIMCO’s Secular Outlook

Speaker: Scott W. Martin, CFA, PIMCO

Featured Partner: Brian Towns, BlackRock

Meeting Description

PIMCO will present its latest secular, or 3-5 year economic outlook and the investment implications thereof. It will be an update of the firm's New Normal/New Neutral thesis that has been widely discussed by policymakers and market participants. The New Normal, articulated in 2009 following the financial crisis, called for multi-year deleveraging and slow growth in the developed world and outperformance by emerging economies. The New Neutral, a natural evolution of the New Normal put forward by PIMCO last year, forecast that equilibrium or neutral policy rates set by developed central banks would be lower than in the past, resulting in interest rates being "lower for longer" than markets expected.

Major secular questions for PIMCO this year are: How will the world live with higher levels of leverage and slower growth? What are the prospects for major EM countries absent a commodity super-cycle tailwind? Will central banks aim for or tolerate higher inflation, and even if they do, can they achieve it? How should we factor in the risks of geopolitical turmoil in the Middle East and Eastern Europe?

1.5 hours CE pending based on approval by the CFP Board for this session.

Speaker Biography

Scott W. Martin, CFA is a senior vice president and account manager in the Newport Beach office, focusing on client service. Prior to joining PIMCO in 1998, Mr. Martin worked at Bloomberg, where he focused on the fixed income markets as a financial journalist and marketing executive. Prior to that, he worked in investment and commercial banking at Prudential Securities, Barclays PLC and Chase Manhattan. He has 27 years of investment experience and holds an MBA from the Wharton School of the University of Pennsylvania. Mr. Martin also holds a master's degree in international relations from Georgetown University and an undergraduate degree from the University of Virginia.

Pricing and Registration

Advanced pricing is available through July 6th: FPA Members and First Time Visitors: $40 Non-Members: $60

After July 6th:
Members and Non-members: $60

Online Registration is open through Monday, July 6th. At-the-door registration is available but limited, so pre-registration is strongly encouraged.

No refunds after 12:00 pm Tuesday, July 7th.