Property, Real Assets & Infrastructure Investment Strategies
08.30 : Registration and Coffee
09.00 : Welcome & Opening Remarks
Fred Jaffe, Executive Director, Specialist Pension Services
09.10 : Session 1: Infrastructure Opportunities
Moderator: Linda McAleer, Senior Consultant, Hymans Robertson
Robert Hardy, Managing Director, J.P. Morgan Asset Management
Value in Core Infrastructure
Exploring the current themes and trends in infrastructure investing and how to find value in today’s competitive market place by focusing on deal flow and implementing platform investment strategies.
Gregory J. Smith, President & CEO, InstarAGF
Infrastructure Trends in North America
North America’s 21st century infrastructure needs are deeply complex, presenting increasing challenges --- and opportunities --- related to urbanization, demographic shifts, technological change and environmental imperatives. Addressing these urgent infrastructure requirements and building for the future requires trillions of dollars in capital and unprecedented innovation in how we finance, build, maintain and improve our critical infrastructure. This presentation will explore where the best infrastructure investment opportunities in North America are arising; the infrastructure refurbishment and retrofit trend and the unique financing models that are emerging; and why the North American middle market offers superior investment opportunities for investors.
Nadia Nikolova, Portfolio Manager, Infrastructure Debt, Allianz Global Investors
Core Infrastructure and Beyond - the Role of Private Secured Credit
Financial repression has shrunken the returns of fixed income products globally creating a challenging environment for pension funds looking for liability matching assets. Our presentation will provide an outline of the key characteristics of infrastructure debt investing, including the birth and evolution of institutional investing in infrastructure debt and examine the global opportunity set. We will explain the role and positioning of long-dated versus medium-term credit for yield and present a case study to capture and add context to the discussion.
10.45 : Coffee/Tea
11.15 : Session 2: Real Estate Opportunities
Moderator: James Walton, Sector Specialist, Global Real Estate, Allenbridge
Andrew Jackson, Head of Portfolio Management, ABS Investments, HSBC Global Asset Management
The Case for Residential Mortgage Backed Securities in a Real Asset Programme
Do Residential Mortgage Backed Securities have a logical place in any modern Real Asset programme? From a candid and unflinching acknowledgement of the chequered history of this asset category, Andrew will demonstrate how good structures, with good underlying collateral, have rightly changed perception. The session will conclude by examining some practical ways investors can gain exposure to the supportive fundamentals and technicals which RMBS and CMBS continue to exhibit.
Tony Yu, Fund Manager, Indirect Property, Kames Capital
Should pension schemes invest in open-ended property funds?
One of the most popular ways to invest in commercial property is through open-ended balanced property funds. These offer diversification, but also bring particular risks. This session will discuss: The FCA’s review of open-ended property funds. Why pension schemes have traditionally invested through open-ended balanced property funds. The differences between retail and institutional property funds. The challenge of picking the winners (and avoiding the losers). The nightmare of a redemption run. Your options if you’re trapped in an underperforming fund. How to achieve ultimate diversification from your property investments, while maintaining liquidity.
12.30 : Drinks and Lunch
13.40 : Session 3: Further Real Estate Opportunities
Moderator: Phil Ellis, Real Estate Consultant
Will Robson, Executive Director and Global Head of Real Estate Applied Research, MSCI
Creating Income in a Low Yield Environment
In a low yield environment, the income characteristics of property are particularly attractive. Portfolios can be constructed to maximise the income attributes - focused on long duration, secure cashflow streams and utilising a mix of property segments and related investments. And this can be done on a domestic, regional or global basis.
Paul Jayasingha, Global Head of Real Assets, Willis Towers Watson
Real Assets within Investment Strategy
The combination of very low bond yields and bigger deficits, with negative cash flow is placing conflicting pressures on pension funds: higher required returns means investing more in growth assets and less in bonds, but schemes with net cash outflow also need to avoid being a forced seller of volatile assets. How can trustees use real income assets to help solve their funding conundrum? This session will look at the important role that other real assets can play in boosting returns.
15.15 Practical Session and Pension Fund Panel
Moderator: John Forbes, Independent Consultant
Richard J. Tomlinson, Head of Investment Strategy, Local Pensions Partnership
Property Investment Strategies
How can the utilisation of various property income streams help pension schemes meet their particular objectives such as growth, de-risking or diversification? What are the practical applications of investing in unlisted property funds in order to achieve these objectives? How does this give pension scheme investors access to those properties and property strategies enjoyed by the largest investors?
Pension Fund Case-Studies
A panel of pension scheme executives and trustees will talk about their pension fund's investment strategies and experiences. Panellists to include:
Richard J. Tomlinson, Head of Investment Strategy, Local Pensions Partnership
Peter Williams, Trustee & Chair of Investment Committee, DMGT Pensions
16.30 : Drinks Reception & Close of Conference
This conference aims to examine a range of property/real estate, real asset and infrastructure investment
opportunities, both traditional and alternative, highlighting the latest trends and the prospects for such
investments in global and UK markets.
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.
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