Alternative Credit and Private Debt Investing for Pension Funds
08.30 : Registration and Coffee
09.00 : Welcome & Opening Remarks
Trevor Cook, Managing Director, Specialist Pension Services
09.10 : Opportunities in Credit
Moderator: Joanne Job, Director, Head of Research, Allenbridge
Craig Scordellis, Head of Long-Only Multi Asset, CQS
Multi-Asset Credit: Capturing Income and Minimising Volatility in Alternative Credit Markets
Alternative credit enables the de risking of portfolios away from equities while maintaining attractive expected risk-adjusted returns. As the relative value between different credit asset classes shifts over time, Multi-Asset Credit (MAC) investing enables tactical and dynamic asset allocation to profit from a broad range of opportunities, mitigate risk and manage duration. MAC strategies seek to capitalise on the most compelling individual credit opportunities and to capture relative value opportunities between different credit asset classes and across geographic regions over time. To achieve this, MAC investing requires deep fundamental research and agile portfolio management.
Adam Smears, Head of Fixed Income Research, Russell Investments
Effectively harvesting the credit risk premium in a risk controlled fashion
As interest rate risk grows in traditional fixed income portfolios, alternative credit is becoming more popular. Credit can offer compelling risk adjusted returns as well as dependable income generation, and would appear underrepresented in investor portfolios relative to its investment merits. However, history has shown us that this asset class can suffer from severe selloffs periodically. In the current expensive environment for credit, how should investors access this risk premia and effectively diversify its risks?
10.25 : Coffee/Tea
10.55 : Looking for Return
Moderator: Chris Helyar, Partner, Lane Clark and Peacock
Duncan Hale, Senior Investment Consultant, Willis Towers Watson
Invested in Real Assets for Enhanced Yield
There is a universe of simple assets available to help UK defined benefit schemes invest into long term, inflation linked cashflows. How these assets can help a portfolio. While simple to understand, they are not simple to source; access is key.
Patrick Marshall, Head of Private Debt, Hermes Investment Management
The Benefits of Direct Lending to a Pension Fund
This session will look at the advantages of Direct Lending strategy on pension funds but will also discuss things to look out for in the market.
Lloyd Harris, Fund Manager, Old Mutual Global Investors
An Insight into Contingent Capital Bonds
Banks have become soundly capitalised since the Global Financial Crisis, and their issuance of contingent capital bonds shows no sign of abating. Though complex and requiring detailed analysis, they offer an attractive yield with low correlation. Lloyd Harris will give his insights into this often misunderstood asset class and his view of its future potential.
12.45 Drinks and Lunch
14.00 Practical Issues & Pension Fund Insights
John Walbaum, Partner & Head of Investment Consultancy, Hymans Robertson
Putting it all together
With such a lot going on in the economy and so many investment opportunities apparently available at the moment, how do pension fund trustees choose? Today's presentations demonstrate the extent of the opportunities in fixed income alone but how should trustees choose which are the most appropriate opportunities for their fund and how can you best combine opportunities to enhance return and reduce risk? How do you set about achieving a sustainable investment strategy?
Archie Beeching, Senior Manger, Investment Practices, Fixed Income & Infrastructure, PRI
What does Sustainable Bonds actually mean? What are the different approaches to incorporating ESG in investment decisions? What are the key drivers for increasing focus on ESG - values and value? What are the current trends as demonstrated by PRI signatory reporting data? What does this all mean in practice drawing on examples and case studies from investors? The bigger picture - PRI's work on bondholder engagement, credit ratings, private and municipal debt.
A panel of pension scheme executives and trustees will talk about their pension fund's alternative credit and private debt investment strategies and experiences. Panellists to include:
Mark Hedges, Chief Investment Officer, Nationwide Pension Fund Trustee Ltd
Dinesh Visavadia, Trustee, Britvic Pension Plan
15.50 : Drinks Reception & Close of Conference
With pressures to maintain high fixed income holdings and at the same time to cut costs, pension funds are
seeking ways to make their assets work harder. This conference aims to look at some of the opportunities
available to them in the various credit and private debt 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.
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
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
January 9, 2018 Le Meridien Piccadilly, London
January 18, 2018 Le Meridien Piccadilly, London
February 8, 2018 Le Meridien Piccadilly, London
March 8, 2018 Copenhagen
March 15, 2018 Le Meridien Piccadilly, London
March 22, 2018 Amsterdam
April 12, 2018 Le Meridien Piccadilly, London
April 19, 2018 Le Meridien Piccadilly, London
May 10, 2018 Le Meridien Piccadilly, London
June 7, 2018 Dublin
June 14, 2018 Le Meridien Piccadilly, London
July 12, 2018 Le Meridien Piccadilly, London
August 30, 2018 Le Meridien Piccadilly, London
September 13, 2018 Le Meridien Piccadilly, London
September 20, 2018 Amsterdam
October 2, 2018 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 Manchester