Webinar: Securing passive income in uncertain times
Endowus Insights
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Webinar: Securing passive income in uncertain times

5 Jan
19 Jul

This webinar is brought to you by Endowus in partnership with Goldman Sachs Asset Management and Manulife Investment Management. 

Watch the replay


00:00 – Introduction

08:00 – What is income investing?

09:22 – How to invest for income?

12:39 – Equities rally despite central bank tightening

17:35 – Global growth is expected to underperform

24:44 – Asian central banks are close to end of the monetary tightening cycles

26:16 – Growing expectations of Fed fund rates to peak this year

29:00 – Singapore’s growth and economic outlook remains challenged

33:36 – While bonds are appealing, equities remain key to combating inflation

38:36 – What income investors should know when building an income portfolio

41:50 – Increasing exposure to Government and Investment Grade Bonds

45:51 – What is the value proposition of Asian bonds?

47:53 – Most Asian markets are now of investment grade quality

52:11 – Asian dollar bonds can be more resilient to external shocks

57:20 – Q&A: Will interest rates remain higher for longer?

1:00:00 – Q&A: How will the magnificent seven perform through the rest of the year?

About the session

In today’s economic environment, income investors may wonder how they can secure a consistent stream of passive income in these uncertain times. 

Investors are watching if bonds are still set to deliver favourable returns in the second half of this year. They are also looking closely at whether equity income investing will continue to deliver a steady stream of dividends. This comes amid an unclear rate hike path in the second quarter of 2023, as central banks work to fight inflation in a time of weak economic growth.

In this dynamic environment, how can income-seeking investors navigate these macroeconomic challenges successfully? 

Endowus warmly invites you to an exclusive webinar with experts from leading income fund managers — Alvin Ong, CFA, CESGA, Managing Director, Head of Fixed Income, Singapore, Manulife Investment Management; and David Copsey, Executive Director, Goldman Sachs Asset Management — as well as Sean Wong, Head of Investments, Endowus. Find out what’s next for income investors amid this turbulent time, as the speakers discuss:

  • Challenges faced by investors seeking consistent income and returns
  • Analysing market surprises, including central bank actions and heightened inflation
  • Strategies to navigate market uncertainties and generate reliable income

There will be a Q&A segment at the end of the session. Submit your questions ahead of time here.

About the speakers

Alvin Ong, CFA, CESGA, Managing Director, Head of Fixed Income, Singapore, Manulife Investment Management

Based in Singapore, Alvin is managing director and Head of Fixed Income, Singapore. He is responsible for managing Singapore-based fixed income assets. 

Alvin joined the firm from AXA Investment Managers (Hong Kong), where he was portfolio manager for Singapore dollar, Japanese yen and Hong Kong dollar fixed income portfolios. He began his career with the Monetary Authority of Singapore, where he managed global credit as well as Japanese yen fixed income portfolios. He was also ranked as one of the most astute investors in Singapore Bonds by The Asset Benchmark Research for five consecutive years since 2018. 

Alvin holds a Bachelor of Electrical and Electronic Engineering from the Nanyang Technological University. He is a CFA charterholder and an EFFAS Certified ESG Analyst. Alvin has completed studies in Corporate Sustainability at NYU Stern and University of Cambridge as well as courses in Responsible Investment at the PRI Academy.

David Copsey, Executive Director, Multi-Asset Solutions (MAS) Group, Goldman Sachs Asset Management

David is an Executive Director within the Multi-Asset Solutions (MAS) Group in Goldman Sachs Asset Management (GSAM), based in London. The MAS Group provides multi-asset class products and solutions for institutional and individual investors, focusing on customized asset allocation, tactical implementation, risk management, and portfolio construction. 

David Joined Goldman Sachs in 2008 in the Operations Division, supporting the Private Wealth Management Business. He then moved to a role in the Portfolio Control and Analysis team, working alongside the Institutional Business. In 2010 David moved to a role working in the UK Institutional Sales team where he was responsible for new business and managing existing relationships with UK and Irish corporate pension schemes. 

David graduated from Loughborough University with a BA in international business, having spent his penultimate year working for the Goldman Sachs Private Bank AG in Zurich, Switzerland.

Sean Wong, Head of Investments, Endowus

Sean Wong is the Head of Investments of Endowus, a leading digital wealth platform in Asia.

Sean oversees Endowus’ advisory and investment solutions, and leads the investment office in optimising portfolio strategies and fund selection to drive growth. Sean also focuses on developing strategic relationships with fund management companies, broadening the range of investment solutions and market innovations in the sector. 

Prior to his current role, Sean was an Executive Director in the Investment Management Services (IMS) team at Morgan Stanley Private Wealth Management Asia, serving as their Head of Offerings. In this role, Sean was responsible for the identification, selection, due diligence, as well as sales and distribution of all fee-based products and discretionary portfolio offerings to the firms’ Wealth Management clients.

Sean has over 14 years of experience in the wealth management industry, having started his career with BBR Partners, LLC, where he focused on developing integrated investment solutions for ultra-high-net-worth individuals and families.


Risk Warnings

Investment involves risk. Past performance is not an indicator nor a guarantee of future performance or returns. Projected performance or returns is not guaranteed to materialise. The value of investments and the income from them can go down as well as up, and you may not get the full amount you invested. 

Rates of exchange may cause the value of investments to go up or down. Individual stock performance does not represent the return of a fund.

General risk warnings relating to collective investment schemes 

Before making an investment decision, you are reminded to refer to the relevant prospectus/ offering document for specific risk considerations and related fees and charges.

Funds are not a bank deposit and not capital guaranteed, and is subject to investment risks, including the possible loss of the principal amount invested.  

Some of the funds also involve derivatives. Do not invest in them unless you fully understand and are willing to assume the risks associated with them.


Any forward-looking statements, prediction, projection or forecast on the economy, stock market, bond market or economic trends of the markets contained in this material are subject to market influences and contingent upon matters outside the control of Endowus HK Limited (“Endowus”) and therefore may not be realised in the future. Further, any opinion or estimate is made on a general basis and subject to change without notice. In presenting the information above, none of Endowus HK Limited, its affiliates, directors, employees, representatives or agents have given any consideration to, nor have made any investigation of the objective, financial situation or particular need of any user, reader, any specific person or group of persons. Therefore, no representation is made as to the completeness and adequacy of the information to make an informed decision. You should carefully consider (i) whether any investment views and products/ services are appropriate in view of your investment experience, objectives, financial resources and relevant circumstances. You may also wish to seek financial advice through a financial advisor or the Endowus platform and independent legal, accounting, regulatory or tax advice, as appropriate.

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Product Risk Rating: Please note that any product risk rating (the “PRR”) provided by us is an internal rating assigned based on our product risk assessment model, and is for your reference only. The PRR is subject to change from time to time. The PRR does not take into account your individual circumstances, objectives or needs and should not be regarded as advice or recommendation to purchase, hold or sell any fund or make any other investment decisions. Accordingly, you should not solely rely on the PRR in making your investment decision in the relevant Fund.

Complex Products

Some of the funds contained in this article are complex products and investors should exercise caution when investing in these products. Though these products have been authorised by the SFC, authorization does not imply official recommendation. SFC authorization is not a recommendation or endorsement of a product nor does it guarantee the commercial merits of a product or its performance.

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