The Annual Investment Strategies for Dutch Pension Funds Conference
January 22, 2020
Amsterdam – Apollo Hotel
This conference, conducted in English, seeks to examine a range of both traditional and leading-edge investment approaches available to Dutch and other Benelux investors taking into account a variety of considerations such as regulatory, political and geopolitical impacts, ESG, big data and the associated opportunities and challenges. We aim to include both liquid and illiquid asset classes, considering the latest trends and the performance objectives of strategies as well as practical issues such as risk management,reporting, implementation.
The Annual Investment Strategies for Dutch Pension Funds
Registration and coffee
Session 1: Current Issues
APG Asset Management
Professor of Pension Markets, Vrije Universiteit Amsterdam
Dutch Pensions Reform: from good to better
Dilemmas and trade-offs in the pension deal
Longer term reform issues
The agenda for now.
Senior Portfolio Manager / Global Head of Special Situations
Capturing the Next Distressed Cycle
This presentation will focus on the rapid growth of credit markets in both public and private format over the past 10 years and delve into the structural changes which have redefined credit investing and in particular special situations investing in a posts-GFC world. We will seek to opine on successful investment strategies in a late cycle world and on ways to prepare to capture divergence and alpha in a recessionary environment. We will also discuss the rise of locked-up vehicles in the Special Situations universe and debate pros and cons against a traditional hedge fund model.
Artemis Investment Management
ESG & High Yield
The de-carbonisation of global energy production is set to accelerate in coming years. This will be driven as much by technology and raw economics as the actions of policymakers. The global high yield market has significant exposure to both incumbent technologies, as well as those poised to benefit from this transition. Whilst this is the case, generic bond index approaches obscure the very different outcomes and exposures various borrowers have, even within apparently homogenous sectors. David Ennett, fund manager at Artemis, will outline some of the risks and opportunities within two sectors – autos and energy – and illustrate the value of a fully ESG integrated and active approach to global high yield investing.
Session 2: Equity Investments
Senior Investment Director
American Century Investments
Health Care Investing: Doing Well While Doing Good
If we look forward 30 years, the world will become a much more aged place. With an ageing population the need for health care will increase, and the cost per person of health care will increase too. This creates pressing needs that investors can help to address through an alignment with SDG-3, Good health and Well-Being, as well as financial opportunities in innovative health care companies. Richard Adams, Senior Investment Director, will explain the natural synergy between investing for financial and impact outcomes: doing well while doing good. Richard will discuss how a health care allocation can fit into investors’ portfolios and explain how a focus on creating positive impacts can be integrated into a portfolio approach.
EM Benchmark Issues and the Challenges of Measuring Success: An unconstrained approach
While the MSCI EM benchmark has long provided investors like pension funds with a tool for measuring performance and selecting managers, the question is whether this is still a relevant EM benchmark in today’s markets? In her presentation, Julie Dickson will focus on why a benchmark agnostic approach might make more sense, and address the possible negative effects of using traditional benchmarks on the delivery of results. Julie will elaborate on how a fundamental, active investment approach in emerging markets can lead to a better risk reward trade off and improved metrics for measuring success in this heterogenous asset class.
Drinks and lunch
Session 3 - Fixed Income, Equity and ESG
Portfolio Manager, European Leveraged Finance
PGIM Fixed Income
Reaching for Yield Late in the Cycle - Why Active Matters
In a low-yielding and increasingly negative interest rate environment, what role should higher-yielding fixed income securities play in investors’ portfolios? Do the risks of the “reach for yield” trade outweigh the rewards this late in the credit cycle?
CIO International Equity
Mythbusters: 4 of the Biggest Misperceptions in the Equity Market
In his session, Justin Thomson will explain why he believes investors should become comfortable being uncomfortable. We are faced with an uncertain market environment, with a wide dispersion of potential outcomes between asset classes, industries and sectors. In this context, Justin will assess some of the biggest misconceptions currently in the equity markets and how they are impacting returns. With a series of potentially binary outcomes ahead, how can investors stay on the right side of change?
Case Study: Integrating ESG across Asset Classes at TKP
In a very fast developing industry what are the latest ideas in integrating ESG
Exclusions and engagement
Standardising ESG scoring
Working with external managers and avoiding green-washing
Drinks reception and close of conference
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.