Inaugural Irish Pension Fund Investors Conference
08.45 : Registration and Coffee
09.15 : Welcome & Opening Remarks
Trevor Cook, Managing Director, Specialist Pension Services
09.20 : Session 1: Where now for equity investing?
Moderator: James Kavanagh, Managing Director, Trustee Decisions
Lasse Pedersen, Principal, AQR Capital Management
Active v. Passive
Is active management really just a losing game? Are investors in aggregate just paying fees to essentially replicate the returns of broad markets? Lasse, Principal and senior researcher at AQR, attempts to deconstruct this assertion and shines a new light on this complex and very timely debate. Lasse examines our financial markets and demonstrates that markets are not perfectly efficient, that informed investors can outperform passive benchmarks and that they play a key role in our market-based economy.
Chris Childs, Director, Portfolio Manager, Quantitative Investments, BMO Global Asset Management
Long-only Factors as a Third Way of Investing in Equities
The growth in passive equity investment is a well-documented feature of the investment markets. This move has been driven by the twin forces of disappointing net investment returns and the desire to reduce investment fees and costs. Is this march to passive investment, however, resulting in investors forfeiting the potential source of excess returns? In this session, Chris will consider factor driven active equity management as an alternative to both passive and traditional active equity portfolio management. Is there an active approach that is both affordable and effective, and what might be the pitfalls?
Ryan Taliaferro, Senior Vice President, Director, Equity Strategies, Acadian Asset Management
Thinking and Investing: Fast and Slow
The terms "fast" and "slow" have distinct meanings in psychology and investing. "Fast" brains can make mistakes, and these mistakes can lead to mispricings in financial markets. In order to exploit such mispricings, rational investors must use their "slow" brains: otherwise they could make the same mistakes as the fast-brain investors. Among the important considerations fro rational investors is whether they are allocating to "fast" or "slow" characteristics, and they should keep in mind the corresponding consequences for transaction costs, turnover and average return.
11.05 : Coffee/Tea
11.35 : Session 2: Income and Liability Matching Strategies
Moderator: Anne Keogh, Head of Trustee Secretariat Services, Construction Workers Pension Scheme
John Taylor, Director, Portfolio Manager - Global Multi-Sector, AB
Keeping a Firm Footing as Bond Sands Shift
Investors are facing a huge transition year. For the first time since 2008, the flood of liquidity created by central banks will start to dwindle. How will markets react and what types of strategies will cope best in this challenging environment?
Rob James, Fund Manager, Old Mutual Financials Contingent Capital Fund
An Underfished CoCo Channel
As investors look to credit to fulfil their income requirements, this session will look at how CoCos have the potential to offer a yield in excess of that delivered by European bank equities but with lower volatility, and how CoCos can also have low correlations with government and corporate bonds and thus provide investors with invaluable diversification.
Matthias Hübner, Fund Manager Long Income Europe, Aviva Investors
The Case for Continental European Long Lease Strategies
Continental European long lease property seeks to meet the existing and ever growing demand for lower risk income producing Euro denominated real estate assets. In this presentation we will examine how the ability to deliver secure, long-term and inflation linked cash flows, by investing in a diversified portfolio of European long lease real estate with rental revenue from institutional-grade tenants can be a key benefit for institutional investors as they need to continue paying liabilities.
13.20 : Drinks and Lunch
14.40 : Session 3: Case Study & Closing Keynote Address
Moderator: Caroline Rowan, Senior Consultant, Aon
Paul Droop, Group Pensions Chief Investment Officer, Bank of Ireland
Bank of Ireland Case Study: Managing Pension Investments
The talk will highlight areas of the Bank of Ireland Pension fund investment growth and liability matching strategies and include current areas of interest.
Peter Cosgrove, Future of Work Expert
The Future of Work - are you prepared?
Peter will discuss how technology is disrupting many areas of work but also generating hugh opportunities. His talk will focus on:
- Technology and how it is disrupting and disintermediating work
- Workforce changes: how more people are working freelance and not even in the office and the effect that is having
- Talent - the challenge in finding the right talent in a global marketplace and the impact of having a diverse workforce
- Work dis-engagement - how and why we have the most dis-engaged workforce and what we need to do about it
15.50 : Closing remarks and drinks reception
16.30 : Close of Conference
This conference will be targeted at all funds based in Ireland, although institutional investors and pension funds from the UK and Europe are also welcome. We will aim to examine the latest trends and the outlook for investments whilst taking into account practical issues of interest to pension funds on both sides of the border.
The conference is by invitation only for pension funds and other institutional investors. If you are not already receiving an invitation please contact us. A limited number of Complimentary invitations are usually available to genuine pension fund representatives (executives and trustees) and other approved institutional investors. However, to ensure we have room for as many funds as possible, we have to limit free places to 2 attendees per approved organisation thereafter a reduced rate fee is payable per delegate. Furthermore, SPS always reserves the right of admission (free or paid) and our decision is final.
July 12, 2018 Le Meridien Piccadilly, London
August 30, 2018 Le Meridien Piccadilly, London
September 13, 2018 Le Meridien Piccadilly, London
September 20, 2018 Apollo Hotel, Amsterdam
October 2, 2018 7A Strandvägen, Stockholm
October 11, 2018 Le Meridien Piccadilly, London
November 8, 2018 Le Meridien Piccadilly, London
November 15, 2018 Le Meridien Piccadilly, London
November 22, 2018 V&A Marriott, Manchester
December 11, 2018 Le Meridien Piccadilly, London