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Agenda

Downloadable presentations:
Helen Beckinsale, Panel Manager, PPF
Manuel Coeslier, Equity Portfolio Manager, Mirova (Natixis Investment Managers)
Gareth Collard & Rob Mechem, Just
Jason Collins, Head of Equity Portfolio Management, SEI
Carl Emmerson, Deputy Director, Institute for Fiscal Studies
Oliver McCulloch, Partner, Barnett Waddingham
Anish Rav, Head of Clients, Proposition and Strategy, Atlas
Craig Scordellis, Head of Long Only Multi Asset Credit, Trading, CQS
Gareth Strange, Senior Director, Willis Towers Watson


08:30 – 08:55: Registration and refreshments


08:55 – 09:00: Chairman’s welcome
Roger Cobley, Chairman, Stamford Associates


09:00 – 09:25: Keynote Speaker
Fiona Frobisher, Head of Policy, The Pensions Regulator (TPR)
Fiona will speak about TPR’s new, more proactive approach to regulation and what it means for trustees, employers and their advisers. She will focus in particular on TPR’s priority to reduce the number of poorly governed schemes.


09:25 – 09:50: Supply chain finance: a focus
Lukas Haas, Director and Senior Portfolio Manager, Credit Suisse Asset Management
As businesses expand and face an ever-changing global environment, they are looking for the most efficient ways for balance sheet optimizations. In the light of higher cost of capital driven by regulatory changes imposed on banks, conventional methods of obtaining working capital like direct lending are becoming a less attractive solution. By using advanced financial technology, supply chain finance offer a set of solutions that enable companies to optimize working capital and enhance their liquidity positions by unleashing billions of dollars trapped in their supply chains each year.
Being short-term in nature, supply chain finance offer investors an opportunity to invest on a short-term basis while earning attractive returns. Moreover trade receivables’ low correlation to traditional fixed income investments enables investors to diversify the return profile of their portfolios. Nonetheless, the market potential for supply chain finance remains so far largely untapped.


09:50 – 10:15: The defined benefit pension odyssey
Oliver McCulloch, Partner, Barnett Waddingham
Defined benefit pension plans are entering an era of run-off and are now a legacy financing issue. Are you focused on a clear destination for your pension plan? This session will provide a unique insight into the key ways of managing the pension journey. It will look at alternative run-off options and discuss what groundwork should be undertaken to ensure your desired destination is reached in the most efficient and effective way. This will include how best to set an investment strategy to achieve your pension aim and take advantage of the flexibility available in how pensions are provided to plan members to minimise risk. The session will cover a high profile case study highlighting how this approach can work to great effect. Barnett Waddingham will also look at what qualities you need from your actuarial consultant to meet the changing needs of your scheme.


10:15 – 10:40: Generating the Governance Dividend 
Anish Rav, Head of Clients, Proposition and Strategy, Atlas
Radical innovation in the approach to governance can transform pension provision. A focus on enhancing, not just protecting, member outcomes through strong, proactive governance will be a game-changer. In this session, we’ll look at how schemes can significantly improve outcomes for their members by putting the governance function at the heart of their operations, the lessons that can be learned from other governance models, and what it really means for the scheme and for the member.


10:40 – 11:10: Engaging with consumers today and in the future
Nigel Ferrier, Founding Partner and Chairman, Ferrier Pearce
This session will look at how consumer marketers engage with consumers and the lessons that could be learnt by pension schemes and employers. It will look at the current technology that is not being adopted by pension schemes as well as looking forward. Current technology already uses voice technology across multiple platforms but what would the next five years look like? So how will we change behaviours and the dynamics of pensions encouraging consumers to make the right decisions about long–term life savings.


11:10 – 11:30: Coffee break


11:30 – 11:55: Democratising sustainable investing through a flexible multi-asset fund
Maria Munnichi, Fund Manager, M&G
Asset owners increasingly want to commit their funds to investments that aim to achieve financial returns, at the same time as generating positive outcomes and avoiding harmful or detrimental effects from these investments. The nature of some of the more sustainable asset classes may make them less accessible for some investors, perhaps due to the large scale of each individual asset or because of limited liquidity. We believe a flexible and dynamic multi-asset product could help investors navigate the effects felt in different economic environments, while giving them the opportunity to access some of these sustainable asset classes.


11:55 – 12:20: Investing For a 2°C World
Manuel Coeslier, Equity Portfolio Manager, Mirova (Natixis Investment Managers)
Are you seeing the full picture on carbon emissions, and are induced and avoided emissions part of your screening process? In a bid to better evaluate the climate impact of portfolios and develop investment solutions fit for a 2°C world, Mirova has spent the last four years developing a new multi-input climate impact methodology to more accurately measure both induced and avoided emissions. It’s a question of transparency and quality of data. And the fact is that climate-aware investors simply cannot afford to invest in funds that don’t show a portfolio’s alignment with climate scenarios using calculated greenhouse gas emissions on a lifecycle basis.


12:20 – 12:45: Cashflow is king - the asset strategy behind a bulk annuity portfolio
Gareth Collard, Chief Investment Officer, Just Group
Rob Mechem, Head of Business Development, Just Defined Benefit Solutions
With record levels of DB scheme assets being transferred to bulk annuities, Gareth will look at the investment challenges for insurers and some of the assets his team have secured for their annuity asset portfolio. With increasing interest in CDI from schemes, he’ll cover how well it’s suited to the average (smaller) scheme. Rob will offer an update on the demand for bulk annuity quotations from EBCs and schemes.


12:45 – 13:10: Multi-asset credit
Craig Scordellis, Head of Long Only Multi Asset Credit, Trading, CQS
CQS believes portfolios should be structured and positioned to reflect the growing levels of dispersion which have been a key recent theme in financial markets. The forces driving this are evident in leading macroeconomic indicators across a variety of geographies, as well as at the micro level. Diverging monetary and fiscal policies will exaggerate this dispersion and introduce new technical risks, such as capital flows, which need to be anticipated and managed, as do systematic risks. Craig will explain why he believes this dispersion and volatility presents an opportunity for long-term investors as well as risks that need to be managed with expertise.


13:10 – 14:00: Lunch


14:00 – 14:30: Keynote Speaker
Carl Emmerson, Deputy Director, Institute for Fiscal Studies
Carl will explore what the impact of automatic enrolment has been on pension membership and pension saving; how this has changed as automatic enrolment has been extended to smaller employers; and how automatic enrolment policy should change given broader developments in the saving landscape.


14:30 – 14:55: Lessons in Manager Selection
Jason Collins, Head of Equity Portfolio Management, SEI
In this presentation, Jason Collins, Head of Equity Portfolio Management at SEI, discusses some of the challenges inherent in researching managers and building multi-manager portfolios, and some of the lessons that can be learnt. Jason will also uncover how informed investors with technical expertise, and skilful portfolio managers, can beat the market through a forward-looking alpha source-based approach to exploiting market inefficiencies.


14.55 – 15.20: Harnessing technology for superior pension scheme performance and an engaging member experience
Gareth Strange, Senior Director, Willis Towers Watson
In an age where individuals and organisations can access almost all of their finances online with a matter of minutes, it is clear that the world of defined benefit (DB) pensions schemes has historically not followed pace with this. Gareth will explore how the operation of DB pension schemes has changed in the five years to today, but also will consider what technology the industry should demand in the next five years. Striving to improve performance of these pension schemes as well as improving member experience and outcomes will be in the interests of all stakeholders.


15:20 – 15:45: Panel: DC Governance in today’s pensions world
This panel of DC specialists will contemplate some of the key governance issues facing DC pension schemes today
Panellists:
Andy Cheseldine, Client Director, CCTL
David Farrar, Senior Policy Manager, Department for Work and Pensions
Colin Richardson, Client Director, PTL


15.45 – 16.15: Keynote Speaker
Helen Beckinsale, Panel Manager, PPF
In her session, Helen will give a PPF perspective on what action trustees can and should be taking if they think their employer is in trouble and there is a risk that their scheme could enter the Pension Protection Fund. She will give an overview of why planning for a PPF scenario is important and explain the PPF processes. She will then talk in more detail about the kind of issues she encounters, where things have gone wrong for trustees and where they have gone well, all seen through the lens of maintaining members’ confidence that their pension is safe.


16:15 – Onwards: Close of conference, Drinks Reception and Networking 

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