Investment Strategies & Cash Flow Management for Maturing Pension Funds
October 21, 2020
This virtual event aims to help pension funds to review the investment options available for managing the complex challenges faced by their funds as they mature. We will assess the key issues around cash flow management and maturing pension funds and explore a number of approaches designed to resolve these, such as defensive strategies, longevity risk management, cash flow and income management strategies, fiduciary management, superfunds, buy-ins and buy-outs. We will also consider a range of practical issues such as transparency, implementation, liquidity requirements, interest rates, costs and fees.
Registration and meet and greet
Session One - Sustainable Cashflow Strategies & Public Credit Markets
Portfolio Manager, Buy and Maintain Credit
AXA Investment Management
A Year of Living Dangerously? How cashflow strategies have fared and lessons learned in this volatile year
With pension schemes continuing to mature each year, many Trustee Boards have rightly turned their efforts towards the long-term aims of delivering promised benefits and implementing successful endgame strategies. But with the impact of Covid19 and significant market changes, trustees have been forced to prioritise shorter-term risks and investment considerations. In light of the market turmoil, what can we learn from schemes which have already set out to re-position their investment strategies to focus on sustainable cashflow delivery and the de-risking of their overall investment strategies? How have such schemes navigated this period of volatility and uncertainty? And what are the opportunities and learning points for those that are considering embarking on this journey?
Goldman Sachs Asset Management
Solving for uncertainty - cashflows and liquidity across CDI
As global corporates and central banks take sweeping action to counter the challenges of Covid-19, we take a look closer at the impact of these actions on public debt investments. We also consider how broader uncertainty impacts the structure of a CDI strategy and debate how to manage liquidity needs through several practical case studies.
Virtual Coffee Break and continuing discussion in a breakout room
Session Two - Revised DB Funding Code and Private Credit Investments
Solution Designer, Client Solutions Group
Investment implications of the revised DB funding code
The Pensions Regulator's proposals for the revised funding code for defined benefit pension schemes have several implications for investment strategies.
From an investment perspective, the revised code incorporates a greater focus on the long-term objective, greater requirements for the scheme's investments, and a greater focus on demonstrating compliance and objective risk-taking.
These requirements have several implications for pension schemes' investment strategies.
How can risk management and fixed income solutions help you align with The Pension Regulator's Proposals?
Macquarie Private Credit
Maturing with Resilience - what has Covid-19 taught us about private credit?
Maturing pension schemes on the whole are looking through the current crisis and maintaining a long-term perspective. Ultimately, the need for pension schemes to match their long-dated liabilities remains unchanged. However, the Covid-19 crisis has shone a light on private credit investments and their ability to deliver high quality and stable cash flows. In the first real test for pension funds and insurers invested in infrastructure debt, how has it fared? And in particular, how has it fared compared to other private credit sectors such as corporate lending and real estate debt?
Final Discussion Session in a breakout room and networking
End of conference
The conference is by invitation only for pension funds and other institutional investors and we welcome new attendees from these groups. Therefore 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 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.
SPS Virtual will be hosted on a dedicated webpage so you won’t need to download any specific software.
Full login and password details will be sent to you after you register.