Investment Strategy for Defined Benefit and Defined Contribution Pension Funds is a one day seminar providing an update for actuaries on the investment of defined benefit and defined contribution pension funds and more generally.
This seminar is suitable for actuaries with all levels of investment experience and background, and provides an opportunity to gain an expert-led update on current investment topics.
Sessions to include:
Leaving the lights on for future generations; Investing into Infrastructure
Much has been made of the need for greater investment into infrastructure on a global basis. Even more has been made of the attractiveness of infrastructure investment for UK Defined Benefit Schemes. So, why does there seem to be an issue? The talk will cover what infrastructure investment is, the current infrastructure dilemma and how UK Defined Benefit pension are funds using infrastructure in their investment strategy.
Speaker: Duncan Hale, Senior Investment Consultant, Willis Towers Watson
Cashflow based investment
What do we mean by cashflow based investment? What do cashflow based investment strategies look like, and how do they evolve over time? What are the benefits of adopting such a strategy, and the implications for funding? Which schemes are they suitable for?
Speaker: Hemal Popat, Principal, Mercer
Investing for the long-run - what are the macro consequences of the current state of UK pensions.
This talk will look at some of the macroeconomic issues that have resulted from the decline of the defined benefit pension and what it means for employers, individuals, markets, and ultimately the state. The session should be thought provoking and result in some lively debate.
Speaker: Iain Clatcher, Leeds Business School
Latest Developments in Direct Lending
Direct lending is a 100bn and rapidly growing annual investment sector where pension schemes appoint expert managers to allocate part of their fixed income or alternatives allocations to providing credit to growing (UK) businesses. Since the banking crisis this has been encouraged by the government and regulatory authorities. Recent examples are 100m commitment from North Yorkshire Pension Fund to fund managers, 100m from John Lewis Pension and large allocations from Lancashire and Strathclyde to direct lending funds
Speaker: James Newsome, Arbour Partners.
Programme:
| 08.45 - 09.10 Registration and refreshments |
| 09.10 - 09.15 Chair’s introduction |
|
09.15 - 10.05 How can people afford to retire? Today’s DC pension savers will find it almost impossible to replicate the traditional Speaker: Nigel Manson and Olivia Treharne, Legal & General Investment Management |
|
10.05 - 10.55 Tactical Asset Allocation in the post-Brexit world With interest rates at record lows, tactical asset allocation offers pension funds uncorrelated added value without increasing overall risk. Speaker: Trevor Greetham, Royal London Asset Management |
| 10.55 - 11.10 Refreshments |
|
11.10 - 12.00 Leaving the lights on for future generations: Investing into Infrastructure. Much has been made of the need for greater investment into infrastructure on a global basis. Even more has been made of the attractiveness of infrastructure investment for UK Speaker: Duncan Hale, Willis Towers Watson Guest Chair: Amanda Prest, Willis Towers Watson |
| 12.00– 13.00 Lunch |
|
13.00 –13.50 Direct Lending: A Viable and Sustainable Investment Sector or a Cyclical Phenomenon? The session will consider whether the emergence of direct lending is a cyclical phenomenon brought about by the retrenchment of banks in the UK; how pension funds are allocating to the sector; where the disclosed and less apparent risks may be for investors: the motivations of managers and borrowers; how actuarial advisors can play an optimal role for schemes (Q&A). Speakers James Newsome, Arbour Partners and Jon Herbert, Beechbrook Capital |
|
13.50- 14.40 Managing liquidity for DB schemes In an environment of lower levels of liquidity in financial markets and with pension schemes maturing, there is increased importance of liquidity management. Attractive opportunities are available to those managing liquidity well, balancing the need to have cash available when required with making sure assets are being put to work to help provide much needed returns. Speaker: Martijn de Vree, Insight Investment |
| 14.40 - 14.55 Refreshments |
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14.55 - 15.45 Cash flow based investment What do we mean by cash flow based investment? What do cash flow based investment strategies look like, and how do they evolve over time? What are the benefits of adopting such a strategy, and the implications for funding? Which schemes are they suitable for? Speaker: Hemal Popat, Mercer |
|
15.45 - 16.35 Investing for the long-run - what are the macro consequences of the current state of UK pensions? This talk will look at some of the macroeconomic issues that have resulted from the decline of the defined benefit pension and what this means for employers, individuals, markets, and ultimately the state. The session should be thought provoking and result in some lively debate. Speakers: Iain Clatcher, Leeds Business School and Marcus Hurd, Xerox HR Services |
|
16.35 - 16.40 Chair’s closing remarks |
Location
Address
Staple Inn Hall
High Holborn
London
WC1V 7QJ
Nearest Public Transport
Chancery Lane station