CALM DURING THE STORM
Tuesday 5 October 2021 | London
Fiduciary Management Focus
Calm during the storm
Covid-19 has impacted the pensions industry in a very interesting way, highlighting the importance of efficient governance and the power of being able to adapt your governance arrangements. While strategic decision making may have become timelier and more efficient, through more frequent and better focused Trustee meetings, agility has also been brought to the fore. Trustees might start to look at their investment management delegations and re-consider what strategic implementation decisions they retain and which they delegate.
Join us for this year’s Fiduciary Management Focus 2021 where we will look forward at the post-Covid-19 landscape and assess how Trustees can evaluate the skills, experience and resources on their boards.
- Weathering the Covid-19 storm
- Retendering: what you need to consider
- Setting targets for fiduciary managers
- Smoother journey to endgame
- ESG integration
Professional Pensions will bring you a fantastic line up of experts on the latest in fiduciary management.
This event is working towards the International Standard ISO 20121 and follows guidance set out by the Sustainable Event Alliance (SEA)
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Who should attend?
Professional Pensions welcomes delegates from the following job types:
Pension Scheme Managers
Pension Scheme Administrators
Pensions Communication Specialists
Chairs of Trustees
*Please note that complimentary places are reserved for inhouse pension and benefit professionals
James Phillips, Deputy Editor, Professional Pensions
Any pension scheme looking to outsource 20% or more of assets to a fiduciary provider must conduct a competitive tender process with a minimum of three managers up for consideration.
• Retender exercises – what have we learnt?
• Creating the right brief, setting objectives
• How do trustees maintain the benefits achieved?
Anne-Marie Gillon, Head of Research, IC-Select
ESG is now well and truly main stream. And your fiduciary manager should think so too. It is not enough to only consider a fiduciary manager’s investment expertise and ability to implement a journey plan, you also need to ensure they are up to the challenge of integrating aligned ESG criteria throughout your portfolio. How do they incorporate ESG ratings on your behalf when selecting underlying managers? Have they set out a time table for carbon neutrality and how are they navigating this on your behalf? How are they considering DE&I in both manager selection but also within their own firm? Are they able to meet the increasing reporting and regulatory requirements to ensure you remain fully compliant?
Niall O'Sullivan, European CIO, Mercer
Claire Skinner, Principal, Fiduciary Consultant, Mercer
In the last few years, defined benefit pension schemes have increasingly come under strain from widening deficits in part due to lower returns from volatile performance of traditional asset classes. Investing only in equities and fixed income also means that schemes’ portfolios may not be as diversified as they can be. Pension schemes that want greater diversification, and the potential for higher return, look to alternative investments to solve both of these issues. However, the illiquid nature of much of this asset class conflicts with schemes’ needs for cash flow as they become more mature, especially if they are targeting buy ins or a buyout.
Our presentation will walk you through the process of customised stress testing and liquidity analysis, so each scheme can truly understand its potential to allocate a greater percentage to alternative investments, enhancing their portfolio’s return and enabling each scheme to meet its end goal with the right level of liquidity.
Alistair Jones, Client Strategy Director, SEI
Sarah Lakin, Client Strategy Director, SEI
Endgame means different things for different pension schemes from buyout to self-sufficiency. Having the right strategy in place and evolving that strategy as schemes get closer to their target is essential. Do you know what you’re aiming for? Without setting out clear drivers how can you reach the conclusion that a fiduciary manager is the right solution? This session will consider how fiduciary management might help your scheme achieve its endgame.
XPS Pensions Group recent annual 5FM Watch report showed that fiduciary managers with more risk embedded in their portfolio initially made losses of up to 14.5% in the first quarter of 2020. Despite this, maintaining the strategy of high exposure to risk assets ultimately paid off with most making strong recoveries over the course of the year as markets returned to pre-pandemic levels. How can we ensure managers share trustees outlook on markets and their approach to investment in times of severe stress, and has this offered trustees an opportunity to properly evaluate performance and potentially model for future recessions?