Investment Strategies for Maturing Pension Funds
08.30 : Registration and Coffee
09.00 : Welcome & Opening Remarks
Trevor Cook, Managing Director, Specialist Pension Services
09.10 : Session 1: Cash Flow Strategies
Moderator: Robert Thomas, Director, LawDeb
Boris Mikhailov, Investment Strategist, Aviva Investors
Using private assets in cash flow driven investment strategies: putting theory into practice
The private assets can help deliver predictable cash flows at attractive yields whilst diversifying away from public markets and taking advantage of illiquidity premia. These characteristics make private assets particularly useful as part of a cash flow driven investment (CDI) strategy where the focus is on cash flow management. In this presentation, we will discuss how pension schemes of all shapes and sizes can access and make the most of their allocations to private assets such as infrastructure, real estate financing, structured finance, private corporate debt and long-income real estate.
Sorca Kelly-Scholte, Managing Director, Head of EMEA Pensions Solutions & Advisory, J.P. Morgan Asset Management
From assets growing to cash outgoing: strategies to deliver cashflows for maturing pension funds
As pension funds become cashflow negative and enter the run-off phase, pension funds will need to place a greater focus on their ability to service those cashflows, structuring the assets to be able to pay cash outgo as it is required without becoming forced sellers. In this presentation, we will illustrate how to build and manage multi-asset, cashflow-oriented strategies, structuring credit and income-oriented assets to deliver core cashflow requirements. As pension funds evolve towards being more like the annuity books run by insurers, we consider the lessons that pension funds can learn from insurers, and where pension funds have more opportunities to exploit.
10.25 : Coffee/Tea
10.55 : Session 2: Risk Management
Moderator: Nick Wheeler, Chair of Trustees, Volvo Group UK Limited Pension Schemes
Martin Thiesen, Director, Global Head of Liability Driven Solutions, Deutsche Asset Management
De-Risking strategies: Higher cash flow certainty enables superior risk management techniques
The more mature the pension scheme the less risk can be afforded and yet returns still need to be achieved so how can you best square the circle? What Risk Management techniques are likely to achieve the best outcomes.
James Mullins, Partner and Head of Risk Transfer Team, Hymans Robertson
Update on the Bulk Annuities and Longevity Swaps Market
An update on the activity, trends and pension scheme opportunities in the buy-in and longevity swap markets.
12.10 : Drinks and Lunch
13.20 : Session 3: Meeting the Challenges
Kerrin Rosenberg, CEO, Cardano (UK)
The Crisis in DB
The DB industry is now in crisis, with 1,000 pension funds likely to enter the PPF. As the industry continues to age, there are calls for reform and the government are consulting on what, if anything, should be done. In this session, Kerrin will share 25 years of experience working with DB funds and give a candid perspective on what has gone wrong and what needs to change. Yes, regulatory and legislative reform is necessary, but even without it, there are simple, practical steps that most trustees can take to dramatically improve their chances of successfully paying their members the benefits that have been promised. This is especially the case for more mature schemes, where they have entered the decumulation phase.
Working with the PPF on the Access and Pay Programme.
14.35 Session 4: 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 be confirmed.
15.15 : Drinks Reception & Close of Conference
With many DB schemes closing altogether and even more closed to new members, pressure on DB pension
funds to manage their risk is immense. This conference aims to help maturing DB pension schemes – and
those that simply want to divest themselves of risk - to review their investment and de-risking options and to
address some of the main issues affecting their funds.
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 13, 2017 Le Meridien Piccadilly, London
Alternative Credit and Private Debt Investing for Pension Funds
August 31, 2017 Le Meridien Piccadilly, London
September 14, 2017 Le Meridien Piccadilly, London
September 21, 2017 Apollo Hotel, Amsterdam
October 3, 2017 7A Odenplan, Stockholm
Property, Real Assets & Infrastructure Investing for Yield for Pension Funds
October 12, 2017 Le Meridien Piccadilly, London
November 9, 2017 Le Meridien Piccadilly, London
Annual Northern Investment Conference for Pension Funds
November 16, 2017 The Met Hotel, Leeds
November 23, 2017 Le Meridien Piccadilly, London