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
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?
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.
- Are retender exercises helping trustees?
- Creating the right brief, setting objectives
- The importance of regular oversight to measure success
A recent report published by EY highlighted the importance of accurately evaluating the performance of fiduciary managers, especially when comparing on past performance. What is the best way to compare on a consistent basis when there are so many variables at play, and how can trustees set tangible targets going forward that work as real markers of success?
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.
There are a variety of factors Trustees need to consider when selecting a fiduciary manager that meets their requirements from an ESG investment perspective. Considering the extent to which ESG factors are impacting overall outcomes and not just financial performance is paramount. That doesn't mean always picking the managers that have the greatest degree of ESG in their investment process, but how a manager may take a holistic approach to integrating ESG.