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Registration and Breakfast
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Opening Remarks
Speaker
Editor-In-Chief
Professional Pensions
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The Pension’s Gambit: Mastering the Macroeconomic Chessboard

In July, although inflation started to decrease, market interest rates remained mostly steady. However, there's growing optimism that developed economies will avoid recession, whilst persistent inflation is decreasing, and economists predict we're nearing the end of the Bank of England's rate hikes. This marks a new phase in the current economic cycle, bringing opportunities and challenges for pension schemes and their trustees. It is now a critical time for pension scheme trustees to make strategic decisions.

This session will address:

  • Where are we now and where do we go from here with inflation, interest rates and bond yields?
  • What are the factors that could change the future trajectory?
  • What should UK pension schemes be most concerned about from a macro perspective?
Speaker
City veteran and chief economist of market research and economic intelligence consultancy
(g+)economics
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An Update from The Minister for Pensions
Speaker
Minister for Pensions
Department for Work and Pensions
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Networking and Refreshments
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Is Holding Illiquids a Barrier to Buy-In?

In this session, Alan Cadman, Clare Baker and Tom Quoroll, members from the Linklaters Pensions, Investment Funds and Structured Finance teams will discuss the management of illiquid assets in the context of pension schemes wanting to buy-in; the secondary sales market for fund investments and the key considerations and opportunities for selling these investments; and other cost-effective structured solutions to provide liquidity to schemes.

Speakers
Managing Associate
Linklaters
Partner
Linklaters
Finance Partner
Linklaters
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Private Matters: Embracing Private Markets in A New Financial Landscape

Private markets are evolving, promising opportunities and challenges for the industry. Rising interest rates have contributed to decreased liquidity across capital markets and posed financial headwinds across diverse asset classes. However, the government has embarked on a journey to foster investment from pension schemes into private markets through initiatives such as: the Patient Capital Review, Long-Term Asset Funds (LTAFs), and the recently introduced Mansion House Compact.

Historically, pension schemes have favoured equities when constructing their portfolios, but with the emergence of innovative fund structures and investment vehicles, such as LTAFs, barriers to private market investing are falling away. None the less, the end of the "easy money era" requires new approaches to private market investing. So, how should pension schemes adapt their strategies to effectively embrace private markets in this new financial landscape?

This session will address: 

  • The pros and cons of private versus public markets
  • Should pension funds allocate more to private markets?
  • How should schemes react to government initiatives designed to boost pension fund's private asset investment?
  • How have the Mansion House Reforms affected private markets?
Speaker
Portfolio Manager
Morgan Stanley
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Lunchtime

This is your chance to mingle, connect, and replenish your energy amidst the Investment Conference's vibrant atmosphere. Join us in savouring a spread prepared to elevate your midday experience. Whether you're networking, sharing insights, or simply taking a moment to unwind; Take a plate, and enjoy!

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The Past, Present and Future of CDI

AXA IM will provide an insightful deep-dive into how this once niche strategy has evolved before, during and after the 2022 LDI crisis. Answering questions such as: what is the difference between LDI and CDI? Is CDI relevant for schemes targeting a buy out? What is liquidity like in these strategies? And what is the future of ESG in CDI?

    Speaker
    Senior Solutions Strategist
    AXA Investment Managers
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    A Window of Opportunity for Pensioners, Current Employees and Sponsors of DB Schemes in Surplus

    What is best for those members who are part of fully funded DB pension schemes? A guarantee of those benefits will always be the safest option, which is why buyout, and consolidators offering a bridge to buyout, will always be the gold standard. However, there is growing appetite for well-funded schemes with sponsors willing to stay engaged to consider a purposefully extended journey to that destination. A journey which can meaningfully address pensioners’ needs, redress the intragenerational and gender imbalance in pensions for current employees, and benefits for sponsors. And a journey which not only results in better member outcomes on buy-out, it also offers a route for these schemes, and the wider industry, to more fully participate in the spirit of the Mansion House reforms.

    VLK have developed a solution called FM+ which aims to do all of this, whilst limiting additional risk to members and providing an efficient method of accessing and distributing surplus.

    Speaker
    Head of Client Solutions
    Van Lanschot Kempen
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    Networking Break and Refreshments

    An ideal opportunity to connect with fellow delegates and relish refreshments provided by The Bloomsbury Hotel, for first class company and a second to none experience!

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    Why Pensions Are Key in The Fight Against Climate Change

    Undoubtedly, climate change stands as one of the most pressing threats to humanity, and its impact is felt within the pensions sector, both in terms of potential repercussions and the industry's capacity to address this challenge. The pensions industry remains susceptible to the deepening effects of climate change unless effective intervention takes place. Significantly, the average individual's most substantial asset is their pension, therefore the industry has a unique amount of power affecting policy and outcome. The investment market possesses multiple avenues to effect change. If the industry does not act fast enough, the fight against climate change could be lost forever.

    This session will address:

    • How can the industry best accelerate in the decarbonisation of society?
    • How can schemes contribute to the halving of emissions by 2030 in their portfolios?
    • Are schemes as hot as they should be on the "S" in ESG and how can we improve this?
    • How are schemes getting on with TCFD reporting and what is being done with the data?
    • What does the future of reporting look like?
    Speakers
    Director - Capital Markets and Fundraising
    Accounting for Sustainability (A4S)
    Programme Manager
    Impact Investing Institute
    Founder Director
    Ario Advisory
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    Professional Vs Lay: The Great Pension Scheme Debate

    Recent market volatility highlights how crucial expertise and experience in managing pension funds is. Professional Trustees play a pivotal role on the board, providing trusted and expert insights in navigating the increasingly complex landscape. Some argue that the current requirements for professional trustees lack rigor and that a clearer distinction between the criteria for lay and professional trustees is needed.

    There is concern that changes to the accreditation process could place a heavy burden on lay trustees, potentially reducing board diversity. Lay trustees have contributed to the effective governance of UK trust-based schemes for decades, and schemes operate most efficiently when there are multiple trustees with varied backgrounds and perspectives. However, pensions and pension investments are complex, posing a significant challenge for some to effectively question their advisors, especially regarding investment decisions.

    This debate will address: 

    • What does professional mean?
    • What is the contribution of a professional versus lay trustee?
    • What do professional trustees bring to the table that lay trustees may not, and vice versa?
    • Should all pension schemes be run by only professional trustees?
    Speakers
    Professional Trustee
    Capital Cranfield
    Member Nominated Representative
    London Borough of Tower Hamlets
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    Experts Assemble: Conquering Market Volatility in a Dynamic Pensions Landscape

    As discussed throughout our Investment Conference, the pensions sector witnessed substantial advancements in 2023. Such as: the Mansion House Speech and Compact, revisions being made to TPR's DB superfund guidance, and with the ever-increasing reliance on admin in the sector, is the industry finally giving it the thought and attention it needs?

    Having addressed numerous critical topics today, the moment has arrived for our industry experts to engage in discussions regarding the day's sessions and delve into pertinent matters affecting our industry.

    This session will address: 

    • Is inflation here for longer?
    • How does a high interest rate environment affect investing and what does this mean going forward?
    • What can we take from the Mansion House Reforms and where do we go from here?
    • Are interest rate hikes sustainable and how will they affect bond yields?
    • How can good administration and data aid schemes going forward?
    Speakers
    President
    BESTrustees
    Investment Consultant
    The Pensions Regulator
    Director
    Pensions Administration Standards Association
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    Closing Remarks
    Speaker
    Editor-In-Chief
    Professional Pensions

    Please note: programme is subject to change