Local Authority Investment & Pooling Issues

Transcription

1 Local Authority Investment & Pooling Issues Thursday 23 March 2017 at Le Meridien, Piccadilly, London Sponsored by: BlackRock FTSE Russell Invesco Natixis Global Asset Management Quoniam Asset Management Wellington Management Media Partners: Investment & Pensions Europe Savvy Investor This conference is arranged by SPS Conferences CPD = 6.5 hours

2 Programme Registration and coffee Welcome and Opening Remarks TREVOR COOK, MANAGING DIRECTOR, SPECIALIST PENSION SERVICES Session 1: Responsible Investing Moderator: JOANNE JOB, DIRECTOR AND HEAD OF RESEARCH, ALLENBRIDGE Making an Impact The Win-Win Solution for Socially Conscious Local Government Pension Funds By investing across a broad range of listed innovative, disruptive companies that serve large underserved populations, the LGPS can achieve attractive long term returns while having a measurable positive influence on the world. We will explore the impact opportunity and explore the role it could play in your portfolio. LOUISE KOOY-HENCKEL, INVESTMENT DIRECTOR, EQUITY PRODUCT MANAGEMENT, WELLINGTON MANAGEMENT More than just Low Volatility: Lower Risk and Higher Return in a Multi-factor World How a multi-factor approach to low vol investing can outperform with reduced risk. Diversification benefits of a quantitative model-driven approach. Flexibility to integrate ESG considerations (eg low carbon filter) into the systematic investment process. Capacity, liquidity and crowding we address the common pitfalls in low volatility investing. Successful in the global, emerging and European universes THOMAS KIESELSTEIN, CFA, CO-FOUNDER AND CHIEF INVESTMENT OFFICER, QUONIAM ASSET MANAGEMENT Smart Beta meets Smart Sustainability Sustainable Investment, why such strong demand? The challenges created for investors by industrial change through time, understanding the macro drivers. Regulation, its growing impact on Sustainable Investment IORP2, Article 173, SB185. Understanding the models, ESG, Carbon, Green Products, what can we measure, what can we model, what does it tell us? Sustainable Data Quality, understanding & managing the issues. Combining Smart Beta with Smart Sustainability to manage climate risk A case study, HSBC UK DC Pension Scheme. The philosophy of Smart Sustainability and outline framework / product opportunities across all asset classes & product types. DAVID HARRIS, GROUP HEAD, SUSTAINABLE BUSINESS LONDON STOCK EXCHANGE GROUP & ESG DIRECTOR, FTSE RUSSELL Coffee / Tea Session 2: Private Markets, Fixed Income, & Real Estate Investment Opportunities Moderator: KAREN SHACKLETON, INDEPENDENT ADVISORY INCL. WARWICKSHIRE PENSION FUND Seeking Income from Private Markets in a Low Return World What are they? What are the differing characteristics and benefits? How do they match LGPS cash flow needs? Building blocks vs. a combined approach. The implications to consider: Governance, diversification, deal access, cashflow & liquidity management. VIVEK PAUL, DIRECTOR, BLACKROCK Opportunities in UK Residential Investment How can institutional investors access this alternative sector within real estate? Why invest in residential? When is the right time to invest? What types of strategies work well in a changing economic environment? JOHN GERMAN, SENIOR DIRECTOR -RESIDENTIAL INVESTMENT, INVESCO REAL ESTATE The Evolution of Fixed Income Investing and the Rise of Outcome Orientated Investing What is the difference between absolute return, multi-asset credit and unconstrained fixed income investing? Where historically investors utilised a peer group or market index as a means of comparison, there has been an explosion in so-called outcome oriented investing strategies in recent years, with a plethora of different products appearing. This presentation provides an overview of a range of different strategy types on offer before providing guidance as to when investors might wish to consider using different strategies. The presentation concludes with thoughts as to the future of these strategies and under what scenarios they might prosper or falter. ALEX THOMPSON, VICE PRESIDENT, PRODUCT SPECIALIST, LOOMIS SAYLES INVESTMENTS Drinks and Lunch Session 3: Keynote speaker & LGPS Panel Moderator: WILLIAM BOURNE, DIRECTOR, LINCHPIN IFM KEYNOTE PRESENTATION Making Pooling a Success in a Turbulent World Latest update on LGPS policy including pooling and the outstanding issues, fiduciary duties and investment regulations. LORD KERSLAKE, CHAIR, LONDON CIV The Consultants View: Looking to the Future This session will address some of the other issues facing Local Authority pension investment, such as costs, the ISS, ESG requirements and asset allocation under the new pooling regime. DAVID WALKER, HEAD OF LGPS INVESTMENTS, HYMANS ROBERTSON LGPS Perspectives A panel of LGPS scheme executives will talk about their pension fund s investment strategies and experiences. Panelists to include: MARK LYON, HEAD OF INVESTMENTS, EAST RIDING OF YORKSHIRE GEOFF READER, HEAD OF PENSIONS, BEDFORDSHIRE JASON FLETCHER, CIO, WEST MIDLANDS Drinks reception followed by Close of Conference

3 Speaker bios John German John joined Invesco Real Estate (IRE) in April 2013 and is responsible for spearheading the expansion of the firm s European residential expertise and investments in Europe. With over 26 years experience in the industry, John has spent the last 12 years at Grosvenor, where he was the head of residential strategy, and at Aberdeen Property Investors as director of residential fund management. In these roles, John has raised, invested and managed c. 200m in two residential funds on behalf of UK and European institutional investors. He also has experience with the student and serviced apartment sectors. John s extensive experience covers transactions, developments, valuations as well as asset and property management. John is a Member of the Royal Institute of Chartered Surveyors, has a BSc (hons) in Rural Land Management and is a member of the BPF and IPF. David Harris is responsible for sustainability and green finance integration into services across London Stock Exchange Group. avid is also E irector at E ussell responsible for E ood, E Environmental ar ets and E a ngs. He has held industry positions, including Vice-Chair of UK I, serving on Advisory Committees for the P I and Euro I, City of London s reen inance Initiative and last year Chaired the UN Sustainable Stock Exchange's Working Group developing Model ESG Reporting Guidance. He is also a member of the new European Commission High Level Expert Group on sustainable Finance.David has worked in sustainable investment for over 15 years. His career started with A L s Environment & is Practice, and with PwC's climate change consulting business. He has an MSc in Environmental Technology from Imperial College London, an IMC from the CFA Society, and has a first class degree in Biological Sciences from Oxford University. Lord Kerslake was appointed as the Chair of London CIV in eptember In addition to this role, he has been Chair of London s King s College Hospital NH oundation rust since 1 April 2015, joined the Peabody Board as Chair in June 2015, was announced as the new Chair of the Centre for Public Scrutiny (CfPS) in early June 2015, and was officially appointed as President-Elect of the Local Government Association at their annual conference on 30 June A former Head of the Civil Service, Lord Kerslake led the Department for Communities and Local Government (DCLG) from November 2010, stepping down in February Prior to his DCLG role, Lord Kerslake was the first Chief Executive of the Homes and Communities Agency, where he was responsible for promoting new and affordable housing supply; supporting the regeneration of cities, towns and neighbourhoods; improving existing housing stock, and advancing sustainability and good design. Before joining the Civil Service Lord Kerslake received a knighthood for his services to local government, spending eight years serving the London Borough of Hounslow and then a further 11 years leading Sheffield Council. In early 2015, he was made a life peer, taking the title Baron Kerslake, of Endcliffe in the City of Sheffield. Thomas Kieselstein is co-founder and Chief Investment Officer of Quoniam Asset Management. As CIO, he oversees Quoniam s Equity, Fixed Income and Multi-Asset investment teams. Prior to Quoniam, Thomas worked for DZ Bank and Dresdner Bank Investment Group. He has been developing quantitative investment processes for multi-factor equity strategies since Thomas obtained his MSc. in Engineering from the University of Karlsruhe. As an investment director in Equity Product Management, Louise Kooy-Henckel is responsible for a range of equity investment approaches for Wellington s clients in Europe, the iddle East and Africa (E EA). he helps to ensure the integrity of Wellington s investment approaches by overseeing portfolio positioning, performance and risk exposures, as well as conducting analysis to inform the investment process. Louise partners closely with the equity investment teams, helps develop new products and client solutions, and manages business issues. She also meets with clients, prospects and consultants to communicate the investment philosophy, strategy, positioning and performance. Prior to joining Wellington Management in 2016, Louise worked at J.P. Morgan Asset Management in London, where she was a managing director and head of the Client Portfolio Management Team for global equities ( ). uring her time there, she also wor ed as a client advisor in the firm s institutional client group. Prior to her long association with J.P. Morgan Asset Management, Louise held a number of roles with State Street in Germany and Australia ( ). Louise received her bachelor of science in financial economics from the University of London (Birkbeck). Vivek Paul, FIA, Director, is a member of the Client Solutions team within BlackRock Solutions. BlackRock Solutions is responsible for developing, assembling and managing investment solutions involving multiple strategies and asset classes. Within Client Solutions, Mr. Paul is a member of the Strategy and Market Views team, which assists institutional investors in designing and implementing investment strategy. Prior to joining BlackRock in 2013, Mr. Paul worked at Towers Watson as an investment consultant, where he specialized in advising pension funds and corporate clients on liability hedging derivative arrangements, financial modelling and investment strategy. He began his career at Hewitt Associates in Mr. Paul earned an MMath degree in Mathematics from the University of Warwick in 2005, with first class honours. He earned an MSc in Actuarial Finance from Imperial College, London, in 2008 and is a Fellow of the Institute of Actuaries. Alex Thompson is a product specialist for the institutional services team at Loomis Sayles Investments Limited (L I), Loomis ayles London-based entity. He is responsible for providing product expertise to the marketplace interfacing with prospects, clients and intermediaries/advisors, predominately across institutional channels in the EMEA region. Alex joined Loomis Sayles in 2016 from Mercer, the global investment consult, where he led the European fixed income manager research team. Prior to joining Mercer in 2007, he was a manager researcher at Aon Consulting (now Aon Hewitt) in London, covering various investment strategies. Alex earned a BSc in applied economics from the University of Plymouth Business School and has passed the Investment Management Certification (IMC) qualification. David Walker is an Actuary, Senior Investment Consultant and Head of LGPS Investments. He has been with Hymans Robertson for over 15 years. He currently advises a number of private sector and LGPS funds across the whole range of investment services. As

4 Head of the LGPS Investment team, David is responsible developing our investment services and strategic investment proposition for public sector clients. David also sits on the Research Oversight Group and ensures our LGPS clients benefit from the latest strategic thinking.

5 Conference Notes Purpose: Cost efficient, ESG investing is high on the agenda for local authority pension investment. Private markets, credit and real estate are also under scrutiny for cash flow and liquidity management. This conference aims to explain and examine these various strategies as well as considering the impact of recent industry changes, for example pooling initiatives, LGPS investment regulations and cost pressures. Date: Thursday 23 March 2017 Venue: Le Meridien, 21 Piccadilly, London, W1J 0BH. Tel: Cost: 1590 plus VAT. In addition a limited number of sponsored places are available to representatives of pension funds (and other institutional investors who themselves do not offer investment management services to others) at 1190 plus VAT. Please check that you are eligible. The charge includes all conference documentation, drinks, lunch, tea and coffee breaks. Payment is required before the event. A VAT receipt will be supplied on request. SPS Conferences events are exclusively aimed at genuine pension fund e xecutives, trustees and their advisers, who may qualify for free entry. SPS Conferences reserves the right of admission (free or paid) and our decision is final. Cancellation: prior to 7 March 2017 subject to a fee of No refunds can be made if cancellation is after this date but delegates may be substituted at any time. Cancellation by SPS will result in a full refund of delegate fees paid but no other expenses incurred. Amendments: SPS reserves the right to amend or cancel the conference at any time but will always attempt to give prior notice. Cancellation by SPS will result in a full refund of delegate fees paid but no other expenses incurred. PMI Accreditation: Attendance at the conference will be given 6.5 hours of CPD with the PMI. Data Protection: Personal data is gathered in accordance with the Data Protection Act Your details may be passed to other companies including the conference sponsors who may wish to provide you with offers or other information related to your business activities. If you do not want to receive such information please tick the box in the booking form below. Specialist Pension Services: SPS Conferences is a small, specialist company focusing entirely on providing essential, high quality and timely investment information to Large Pension Funds and their Advisors via a series of one day conferences in London and in key locations throughout Europe. SPS Conferences is the sister organisation of the EPFIF (European Pension Fund Investment Forum) and has been running investment conferences for the Pension Fund community since A wide range of investment and related topics are covered, including Alternative Investing, Bonds, Equities, Property, Absolute Return, Private Equity, Risk Management and DC Issues. Furthermore, because we know that you prefer to be educated rather than sold to, we strongly encourage our speakers to focus on giving educational speeches. An Advisory Committee of Pension Funds has been set up to help us keep our conferences relevant to your needs year on year, as we understand that there is a preference to be amongst peers at conferences rather than be outnumbered by Marketing Executives from Service Providers and so we have a very strict admittance policy biased heavily towards Large Pension Funds. We aim to have more pension funds in the room than service providers. SPS Conferences understand that delegates appreciate generous question and answer sessions during the conference and we also provide a number of opportunities to talk to your peers and the speakers. This includes tea/coffee break(s), a full three course sit down lunch and a drinks reception at the end of the day. When you put all this together, you get conferences where you can learn essential, timely information to assist you with all areas of pension fund investment management, in a friendly, relaxed, atmosphere amongst your peers. please visit our website: for an update of this conference and details of the other specialist pension and investment conferences we organise. Queries: please contact: Ms Sue Golton at Specialist Pension Services Limited. Telephone +44 (0) Telefax +44 (0) sue@spsconferences.com SPS Conferences is a division of: SPECIALIST PENSION SERVICES LIMITED Registered Office Address:Northside House, Mount Pleasant,Barnet, Herts EN4 9EE. Registered in England No Booking Form Please read the Conference Notes, then complete the details below. Please reserve... place(s) at The SPS Local Authority Investment & Pooling Issues taking place on 23 March Please indicate method of payment: delegates at 1590 plus VAT delegates at 1190 plus VAT (reduced rate only applicable to trustees and other representatives of pension funds who do not themselves offer investment advisory services to other institutions). Please complete delegate details below: Cheque enclosed, made payable to Specialist Pension Services Ltd. (A VAT receipt will be supplied on request). Please invoice me/my company (payment to be made before event). Please do not pass my information to third parties. Surname:... First Names:... Mr/Mrs/Miss/Ms:... Position:... Company:... Address: Tel No: Special dietary requirements:... 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