Annual Investment Strategies for


Dutch Pension Funds


21 March 2019
Apollo Hotel, Amsterdam



Annual Investment Strategies for Dutch Pension Funds

08.45    :    Registration and Coffee


09.15    :    Welcome & Opening Remarks


TrevorTrevor Cook, Managing Director, Specialist Pension Services





09.20   :      Session 1:  Managing Volatility


Christiaan TrompModerator: Christiaan Tromp, Fiduciary Officer, Tromp Financial Services






Nick Samouilhan

Nick Samouilhan, Solution Strategist Multi Asset Division, T.Rowe Price


Volatility Forecasting and Management

While forecasting market returns over the short-term is often viewed as a fool's errand, this presentation will go through the academic grounding on why forecasting volatility in markets is both possible and highly desirable, and will talk through its practical implementation in modern portfolios, including the benefits and the trade-offs.




Marlies van BovenMarlies van Boven, Managing Director Research & Analytics, FTSE Russell


Managing Volatility: Index-Based Approaches for a Smoother Ride

The recent outbreak of market turbulence has refocused interest in defensive strategies. We focus on the Low Volatility and Minimum Variance strategies. Often incorrectly used interchangeable, we discuss their distinct objectives, portfolio construction process and investment outcomes. 




10.35    :    Coffee/Tea



11.05     :    Session 2: Emerging Market Debt


Evalinde EelensModerator: Evalinde Eelens, Executive Board Member, BPF Particuliere Beveiliging





Richard AdamsRichard Adams, Senior Investment Director, American Century


Emerging Market Corporate Debt: a Hidden Gem?

Often overlooked by investors, Emerging Market Corporate Debt is one of the fastest growing areas of global fixed income. A closer look at this misunderstood and underappreciated asset class can reveal the potential for portfolio diversification benefits by investing in high quality companies with attractive yields and strong risk-adjusted returns.



Jeremy CunninghamJeremy J.W. Cunningham, Investment Director, Fixed Income, Capital Group


Emerging Market Debt - Why it Might be Time to Reconsider an Active Allocation

The growth dynamics and strengthening economic fundamentals of many emerging market (EM) countries are attractive to investors seeking growth, income and diversification. In our presentation, we discuss why investors should reconsider an active allocation to EMD. We explain how an active allocation enables them to capture different drivers of return and manage risk, and provides a more deliberate allocation of capital, which could mitigate unintended consequences of index construction.



12.20    :     Drinks and Lunch


13.30    :     Session 3: Considering other Investment Strategies



Paul van GentModerator: Paul van Gent, Chief Investment Officer, Corestone Investment Managers






Graham McCrawGraham McCraw, Senior Investment Specialist, Aberdeen Standard Investments


Why Global Smaller Companies

Global Smaller Companies account for c.70% of the global equity opportunity set, but many pension funds have no exposure to this exciting area of the market. This talk will address why the asset class is worthy of consideration within a broader portfolio and outline some of the key benefits a bottom-up approach can bring. 




David BentleyDavid Bentley, Founding Partner, ATLAS Infrastructure


Listed Infrastructure 

Listed infrastructure acts as a diversifier, having lower beta and correlation to other assets. The underlying return streams of infrastructure companies (essential services, backed by hard assets with a degree of price certainty) are strongly linked to the regulatory or contractual frameworks in place, rather than typical drivers of equity and bond returns. In uncertain times infrastructure can provide a source of income with less correlation to traditional assets. 


14.45    :     Coffee/Tea


15.05          Session 4: Academic & Investor Perspectives


Piet Molenaar Moderator: Piet Molenaar, Independent Board & Investment Committee member, PNO Media




Dirk BroedersDirk Broeders, Senior Economist, DNB, Professor of Finance, Maastricht University


Keynote Address: Pension Funds Interconnections & Herd Behaviour 

This new research study of 191 pensions looks at how their interconnections (through trustees, actuaries or dominant asset managers) is leading to herding behaviour in private market asset allocation.


Xander den UylXander den Uyl, Vice-Chairman, PWRI


Building ESG Proprietary Benchmarks: Case study from PWRI

 This case study will examine how Pensioenfonds Werk en (re) Integratie (PWRI) developed a proprietary ESG benchmark to achieve their own ESG objectives and how they aim to move to fully integrate ESG across the portfolio.



16.15    :    Drinks Reception & Close of Conference


This conference, conducted in English, aims to examine the most significant and relevant investment challenges and opportunities currently facing Dutch and other Benelux pension funds and institutional investors.  We will seek to include consideration of the latest trends and performance potential of a range of strategies whilst taking into account practical issues and requirements specific to Dutch and other Benelux investors.


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.


Apollo Hotel  

Apollolaan 2

1077 BA Amsterdam

Tel: +31 20 673 59 22






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