Programme List - Investment Conference 2018
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Programme

08:30 – 09:00

Delegate registration and networking

With refreshments

09:00 – 09:10

Chair’s opening remarks

Jonathan Stapleton, Editor-in-Chief, Professional Pensions

09:10 – 09:35

KEYNOTE: An economic overview and look to 2019

Silvia Dall'Angelo, Senior Economist, Hermes Investment Management

09:40 – 10:05

Let's get active

Does pension scheme investments require an ‘active' mind-set? Some believe this means more than investing in active managers. Running the pension scheme like a business with more defined accountability is one way of focusing agendas. Active reviewing of asset allocation and managers, reaps dividends. As correlations shift, are schemes being dynamic enough in considering and implementing new exposures like illiquids, insurance linked securities or factor investing? Actively seeking out greater transparency and sourcing competitive pricing for all the scheme's providers and underlying investment managers, will help ensure that costs are optimised versus the returns delivered.

Mike Rogers, Partner, AIS Head of Large Clients, Aon

10:10 – 10:35

Factor investing: understanding the 'third pillar of investing'

Factor investing is fast emerging as a 'third pillar of investing' - moving into the mainstream alongside more traditional alpha strategies and market cap-weighted indexing. While each of these three styles has advantages, finding the right approach will depend on an investor’s goals and circumstances. In this session, Georg Elsaesser, Senior Portfolio Manager, IQS further distinguish between the three, disentangle the terminology and uncover what he believes can really drive performance.

Georg Elsaesser, Senior Portfolio Manager, Invesco

10:35 – 11:00

Morning networking break

With refreshments

11:00 – 11:25

Transforming sustainable investment
  • Why environmental investing is moving firmly into the mainstream
  • How can investors become responsible guardians of the environment and simultaneously secure an attractive return on their investments?
  • How does Pictet Asset Management identity the most promising investment opportunities in the rapidly-evolving environmental products industry?

Dr Marc-Olivier Buffle, Senior Product Specialist, Pictet

11:30 – 11:55

Precision is your enemy

A lot of ink (and possibly adviser fees) have been spent on solutions like cashflow driven investments and detailed LDI solutions but just how predictable are the cashflows they try to match? In this session we will take a look at some of the “known unknowns”.

Zuhair Mohammed, Partner, LCP

12:00 – 12:25

Getting to grips with investment costs

When trustees understand the full range of investment costs, they will arguably be better placed to assess whether their members are receiving appropriate value for money and safeguard their interests as investors. This break-out session will look at news ways of understanding the true costs of investing (beyond TER) and consider how to achieve an extra net return in the portfolio without adding any risks or making changes to the manager mix. The Sainsbury’s Pension Scheme will explain how they have increased their cost efficiency.

Wolfram Klingler, Managing Partner, XTP
Dean Johnson, Group Pensions Investments Officer, Sainsbury's

12:25 – 13:25

Networking buffet lunch

 

13:25 – 13:50

The case for Securitised Credit

We are in an environment of rising interest rates, a late-stage corporate credit cycle with high amounts of leverage, and ever tightening yield spreads across traditional fixed income products. A floating rate product that offers protection from rising rates, diversification, security, lower volatility, and income should be attractive. The Securitised Credit sector gives us access to all these features. This session will look to demystify the asset class and outline why we think it is an attractive opportunity for UK pension schemes.

Chris Ames, Senior Portfolio Manager, Fixed Income and Securitised Credit, Schroders

13:55 – 14:20

DB in crisis – What went wrong and how to fix it?

The CMA review has put even greater emphasis on Fiduciary Management with the belief that Fiduciary management can support quicker decision making and give trustees access to significantly more resource and expertise – freeing up trustee time to focus on more strategic issues. This session will explore that assumption and look at whether schemes can outsource with controls to deliver returns on time with added certainty.  This session will include tips for simple, practical steps that most trustees can take to improve their chances of successfully paying their members the benefits that have been promised.

Phil Redding, UK Head of Business Development, Cardano

14:25 – 14:50

Broadening the universe: The strategic case for alternative credit

The falls over the past two years in high yield and emerging market debt credit spreads, along with indications of late-cycle behaviour in the US, has led some investors to be nervous about allocating to these areas. But should pension schemes reconsider? We believe that many pension schemes are significantly underweight the asset class in their strategic asset allocations. In this session we would like to discuss the strategic benefits of allocating to alternative credit and why we believe investing in the asset class could be beneficial for many schemes.

Martin Reeves, Head of Global High Yield, Legal & General Investment Management
Jonathan Joiner, Senior Solutions Strategy Manager, Legal & General Investment Management

14:50 – 15:10

Afternoon break

With refreshments

 

Chair: Stephanie Baxter, Deputy Editor, Professional Pensions

15:10-15:45

Afternoon keynote panel: Investment challenges for pension schemes

Antony Barker, Managing Director, The Pension Superfund
Mark Austin, Trustee Director, Northern Trust
Ian Scott, Head of Investment Strategy, PPF
Cllr John Gray, Chair of Newham Council Investments & Accounts Committee

15:45-16:10

Private markets explored

A significant share of share of the global economy is in private investments, but despite this the role of private markets in the portfolios of institutional investors remains limited. Private markets provide exposure to unique market segments, offer portfolio diversification and a haven from market turmoil. In this session our speaker will give an overview of the sector, including:Risk-adjusted returns compared - how private markets stack up against traditional assets

 

  • Liquidity - why it's a drain on return
  • Taking an outcome-oriented approach
  • The importance of manager selection

 

Ted Logan, Director, BlackRock Alternative Solutions
Jonathan Stevens, Head of European Infrastructure Debt, BlackRock

16:15 -

16:40

Protected Equity: an approach to de-risking pension funds

A common theme across pension funds these days is de-risking as funding levels improve. Typically, equity risk is where the focus falls, and equities are sold to be replaced either by bonds/LDI or by a multi-asset strategy intended to provide returns but at a lower risk than equities. We propose that there is a third option, particularly valuable to those still requiring returns greater than bonds: to de-risk the equity investment itself. In this session we will talk through an approach first designed for use by insurance companies where returns and capital downside protection are equally important - an approach that we think works equally well for pension funds.

Richard Lockwood, Head of Northern Europe Distribution, Morgan Stanley

16:40 – 16:45

Closing remarks and close of conference

Stephanie Baxter, Deputy Editor, Professional Pensions