SPS Current Investment Issues for Pension Funds
November 8, 2022
The Dilly, London
This wide-ranging event aims to address the most pressing investment issues and challenges facing pension
funds looking ahead to 2023. We seek to include strategies suitable for DB and/or DC pension funds that
could help them to manage these issues, taking account of current and expected global and local regulatory
and economic impacts, as well as investment considerations and practical matters such as ESG compliance,
cashflow, performance, cost, risk management, default and lifestyle strategies.
Managing Director, Multi-Asset Solutions
Goldman Sachs Asset Management
Portfolio construction in the face of uncertainty
How to view portfolio construction in the face of uncertainty; Can you enhance the resilience of long-term investment portfolios; How can you reduce the risks and take advantage of the opportunities that volatility presents; and what different hedging approaches should now be considered in light of markets moving faster and further than previously thought possible.
Managing Director, Fixed Income Client Portfolio Manger
Putting your bond portfolio on the path to Net Zero – how to manage climate transition in fixed income
Bond investors have a very important role to play in the global journey to Net Zero. That includes not only directing capital away from carbon intensive industries, but also lending it to companies that are providing climate solutions or transitioning their business model towards a low carbon economy. This process can be effectively implemented in Multi-Asset Credit portfolios that invest across a broad opportunity set, with a particular focus on the following:
Information that fixed income investors can use to track the progress of their portfolios on a path to net zero
Structuring bond portfolios to achieve both investment return objectives and climate transition goals
Meeting forthcoming regulatory requirements, like mandatory reporting aligned with the Task Force on Climate-related Disclosure (TCFD)
Vice President and Lead Portfolio Manager, Emerging Markets Strategies
Deglobalisation to drive long-term change to supply chains
Ongoing trade tensions, geopolitical events and the impacts of the pandemic have accelerated deglobalisation, causing businesses to reassess China’s role in global supply chains. The future global supply chain will benefit other EM countries as businesses rewire their supply chains, but China will likely maintain a significant role, given its many competitive advantages, capital requirements associated with realignment, and country-specific challenges in other EMs.
Head of Sterling Credit Research
Royal London Asset Management
Senior Fund Manager
Royal London Asset Management
ABS - A Better Start for credit portfolios
Investment grade credit has become a fundamental building block for UK pension funds. This presentation will examine if the market’s predilection for familiarity when it comes to bonds is counterproductive and whether Asset Backed Securities (ABS) may be a better starting point for building credit portfolios with more secure cashflows. Critically, with economic headwinds and market volatility increasing, they will also consider whether the rehabilitation of securitisation post the financial crisis means a conventional approach to investing in ABS is not just missing opportunities but exposing funds to significant latent risk - and demonstrate how investors, by taking a more diversified exposure to secured bonds, can capture the clear advantages of the asset class whilst minimising these hidden risks.
Director of Risk and member of the Investment Committee
Here be dragons! The demise of the 60/40 means portfolios need trend
Here be dragons! Having been used by early mapmakers to symbolise uncharted and yet-to-be discovered territory, the phrase ‘Here be Dragons’ has entered the lexicon in reference to the basic human fear of the unknown. The seismic shift in economic, social and political themes means the future ain’t what it used to be. This has made the macro investment landscape feel like uncharted waters. Several significant macro forces have gone into reverse: globalisation to nationalism and reshoring, deflation to inflation, quantitative easing to quantitative tightening – rendering the 60/40 portfolio inadequate. Where portfolio stresses have gone ‘off-the-charts’ the new economic paradigm requires trend following strategies to navigate uncertainty owing to their directional agnosticism, liquid, adaptive, systematic and broad market coverage.
Managing risk in a world of less leverage and heightened volatility
The recent gilt market crisis has led pension scheme investors to consider how they manage risk in a world of less leverage and heightened volatility. This session will review the key events of the crisis, the effect on pension funds and the economy – and actions taken to reduce risk and the potential negative impact on future investment strategies. Looking forward, how will the gilt crisis influence risk management, corporate-trustee partnerships, and the operation of LDI strategies?
A Legal Framework for Impact : Sustainability Impact in Investor Decision-making
Pension Funds views:
Close of conference and drinks reception
The conference is by invitation only for pension funds and other institutional investors and we welcome new attendees from these investors. Therefore if you are not already receiving an invitation please contact us. A limited number of Complimentary invitations are 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 3 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.
The Dilly Hotel, London
London W1 0BH
Hotel Tel: +44 (0)20 7734 8000
The hotel is located on the north side of Piccadilly, close to Piccadilly Circus, only two minutes walk from Piccadilly Circus underground station.