What are the prospects for global and local property/real estate markets and what role can property play in a funds’ overall asset allocation strategy? To answer these questions, this conference will consider the different routes available to investors as well as a range of conventional and alternative strategies, taking into account liquidity, prospects and performance in comparison to bonds and equities as well as practical issues such as manager selection and the role of consultants.
A similar conference which was run previously can be found
here
Setting the scene: income v capital growth; Economic uncertainty = occupier risk; Managing the risks; Decent inflation hedged income? The difference between income growth and rental growth.
Kevin Aitchison, Chief Executive, ING Real Estate
"The UK property market"
A look at recent market performance and its drivers, including alternatives to the traditional sectors. Methods of accessing the market (including structures and vehicles), new opportunities and sustainability in real estate.
Luke Powell, Client Portfolio Manager, Aviva Investors
10.30
Tea/Coffee
11.00
Looking for Opportunities
Moderator: TBA
“The role of listed securities in property asset allocation”
Characteristics of listed vs. unlisted property; Short-term and long-term behaviour of the asset class (tactical and strategic considerations); How an allocation to securities can complement an existing allocation to other forms of property investment; Long-term opportunities in emerging markets; Current market outlook and positioning.
Peter Zabierek, CFA, Senior Portfolio Manager, Global, Urdang Securities Management
“Identifying 'classic' vintage year investing”
Do different real estate markets really provide different opportunities at different times. Of course, boom and bust real estate cycles occur, however despite the performance problems which they can cause they do offer insight into 'classic' vintage years (i.e. the start of a positive wave of performance). Unfortunately, most often, these classic vintage years are only fully recognised with hindsight. What are the signs you should look for to identify these classic vintage years in advance and the potential opportunities for pension funds to invest at these points? The discussion will reference practical application, with recent global transaction examples.
Rory Morrison, Senior Director - Fund Management, Invesco Real Estate
12.20
Drinks and Lunch
13.50
It's a Global World
“Relative Value Investing on a Global Basis”
Why are many UK institutions "going global" with their real estate portfolios? What are the principal risks and benefits of global real estate? Where are the real opportunities today in the US, Europe, Asia and Emerging Markets? Is now a good time to invest? What differentiates the best local real estate managers? How can secondaries and directs help to mitigate the J curve? Case studies of recent primary, secondary and direct transactions.
Claude Angéloz, Partner, co-head, Private Real Estate Team, Partners Group
“Indirect Private Real Estate Investment: The Mid-Cap/Small-Cap Advantage”
Is there a case for a mid-cap/small cap global investment program? Can such strategies enable investors to retain greater control over how their portfolios are constructed? Do smaller sized funds outperform larger funds? How do the fee structures of smaller sized funds compare to large cap funds; How do get optimum coverage of the global investment universe? What sort of opportunities will the evolving investment landscape produce? Can Investors benefit from a greater degree of control with small/mid cap funds; and can risk at a portfolio level be more actively managed with a portfolio of small cap than large cap funds?
Jeremy Plummer, CB Richard Ellis Investors
15.20
Coffee/Tea
15.50
Practial Issues and Panel Session
Moderator: TBA
“Slicing and Dicing: How to allocate your Property Portfolio”
With all of the opportunities available to pension funds how should they choose between the options available. Is there a right allocation and can you can tactical bets?
Paul Richards, Mercer Investment Consulting
A panel of pension scheme executives and trustees will talk about their experiences.
Panellists will include:
Ben Sanderson, Director, International Investment, Hermes Real Estate Management (BT Pension Scheme)
