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Property & Infrastructure Investment Strategies for Pension Funds
October 10, 2019
London – Le Meridien Piccadilly, London
Purpose
This conference will take a broad look at the investment opportunities available to Pension Funds in the property and infrastructure sectors, both direct and indirect, liquid and illiquid, quoted and unquoted. After reviewing recent performance we aim to examine the prospects of the various approaches as well as to consider how they can be used to best achieve pension funds' specific risk and return objectives. We will also seek to address related practical issues such as incorporating ESG factors, liquidity constraints, risk management, transparency requirements whilst controlling fees and other costs.
Programme
Property & Infrastructure Investment Strategies for Pension Funds
08.45
Registration and coffee
09.15
Welcome and opening remarks
Trevor Cook
Managing Director
Specialist Pension Services
09.25
Session 1: Global & UK Real Estate
Principal
The Townsend Group, an AON Company
Global Perspectives on Real Estate Investing
Institutional investors remain acutely focused on high levels of economic uncertainty. Taken together with the cyclical nature of real estate, many are asking what this means, and where opportunities lie, for their portfolios. This session will share views on the global outlook for real estate markets, explore the different investment themes emerging around the world and consider why now could be a good time to consider global real estate investments.
Head of UK Real Estate
Credit Suisse Asset Management
UK Commercial Real Estate
A look at different sectors and trends/dynamics in the industry. View on Brexit and impact on commercial real estate. Case study on key sectors.
10.40
Coffee/Tea
11.10
Session 2: UK Income & Capital Strategies
Fund Manager, Investment Committee and Investment Team
Tritax Group
Active Income Investing in the UK into the 2020s
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Income remains the main driver of ungeared real estate returns in the UK
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The drivers behind why real estate sector returns are at their most diverse in a decade
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How global megatrends continue to shape Real Estate sectors
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Recent yield compression has made annuity and prime investing a more difficult strategy to execute and successfully secure value
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“Active” income investing incorporates the potential to improve the asset and income stream
Fund Manager
M&G Real Estate
Capturing Value: Timing and Specialist Expertise
At a time of record low bond yields and diminishing core real estate returns, forecast to be 4.3% per annum over the next five years, the case for investing in a UK value-add strategy backed by a strong component of income is becoming more compelling. Heightened risk aversion and market uncertainty is dominating sentiment during the ongoing Brexit negotiations. This is creating volatility in the capital markets and a divergence of pricing between core and non-core assets. The lack of development activity across the sectors for the past ten years has severely restricted supply levels. The fundamental demand/supply imbalance across the occupational markets supports the case for taking income risk. This presents an opportunity to target fundamentally well–located non-core assets then actively asset manage the real estate to add income, extend the lease-term and enhance the capital value over time to dispose into an improved property market.
12.25
Drinks and lunch
13.35
Session 3: Infrastructure
Director Infrastructure
bfinance
Infrastructure Investment: The Experiences of Investors
Infrastructure is attractive to pension investors because it can offer downside protection, diversification, inflation protection in addition to a stable income stream. It is however also seen as a complex investment and difficult to access for many investors. How are UK investors accessing infrastructure and what are their experiences to date? How do they compare with investors in other countries, such as Australia? What are the current trends and challenges in infrastructure investing for UK investors of different sizes?
Nuclear Development Director
EDF Energy
EDF Energy: Sizewell C
Nuclear energy is receiving renewed interest as an attractive proposition for funds and an ESG compliant model for future low carbon energy investment in the UK. Since infrastructure became accessible to private investors, its popularity has grown almost exponentially. Last year, global fundraising for privately owned or ‘unlisted’ infrastructure projects reached a new record level $85 billion in 2018. EDF’s Sizewell C nuclear power station is a new opportunity for pension fund investment
14.50
Coffee/Tea
15.10
Session 4: ESG Issues & Pension Fund Insights
Senior Investment Consultant
Willis Towers Watson
ESG in Property and Infrastructure Investment
Private market investments offer different challenges for investors considering ESG issues. This talk will look how ESG considerations can be taken into account when investing in property and infrastructure.
Pension Fund Insight
Case study perspective in these asset classes from one of the largest UK pension funds.
16.20
Drinks reception and close of conference
Cost
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.
Venue
Le Meridien Piccadilly Hotel, London
21 Piccadilly
London W1 0BH
Hotel Tel: 08700 400 8400
Hotel Fax: 020 7437 3574
The hotel is located on the north side of Piccadilly, close to Piccadilly Circus, only two minutes walk from Piccadilly Circus underground station.
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