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IPE Webcast Channel

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Live interviews, roundtables & presentations

This webcast channel is for pension funds and other institutional investment professionals in Europe, the USA and Asia. It is particularly relevant for pension fund executives, trustees, consultants and investment managers. IPE will be bringing its community live interviews with leading figures in the market, hosting roundtable discussions on specific topics such as asset allocation and also sharing latest thought-leadership from investment experts.

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Event Shortfall – Investment Risk Realised Brendan Maton Investors make portfolio allocation decisions for a wide array of reasons. For example, a pension plan may choose to implement a strategic asset allocation change as a result of an asset-liability study. Whatever the reason for the change in investment allocation, delay in implementation will invariably impact returns. Empirical evidence from State Street’s transition team shows that the delay between client investment decision and selection of a transition manager can run into several months and in extreme cases over a year. Current calculations of investment risk will tend to consider investment exposure relative to a benchmark once the portfolio restructuring is complete. Event Shortfall considers that investment risk starts at the point of decision. Measuring risk in this way implies that asset owners are running unrewarded and un-mandated risks for considerable periods of time and are often paying explicit fund management fees for the delivery.

Our webinar explains the background to Event Shortfall, considers some of the practical implications of measuring and managing these risks, and reflects on the viewpoint of industry figures.
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Mar 9 2015
60 mins
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  • Investors make portfolio allocation decisions for a wide array of reasons. For example, a pension plan may choose to implement a strategic asset allocation change as a result of an asset-liability study. Whatever the reason for the change in investment allocation, delay in implementation will invariably impact returns. Empirical evidence from State Street’s transition team shows that the delay between client investment decision and selection of a transition manager can run into several months and in extreme cases over a year. Current calculations of investment risk will tend to consider investment exposure relative to a benchmark once the portfolio restructuring is complete. Event Shortfall considers that investment risk starts at the point of decision. Measuring risk in this way implies that asset owners are running unrewarded and un-mandated risks for considerable periods of time and are often paying explicit fund management fees for the delivery.

    Our webinar explains the background to Event Shortfall, considers some of the practical implications of measuring and managing these risks, and reflects on the viewpoint of industry figures.
  • - Weltweiter Trendmarkt Gesundheit: Die Nachfrage steigt überproportional
    - Bis 2030 steigen Gesundheitsausgaben voraussichtlich rund +6% pro Jahr im Durchschnitt
    - Relativ unabhängig von Konjunkturzyklen und unsicheren Börsenphasen
    - Gesundheitsmarkt ist vielfältig: Nicht nur Pharma, sondern z.B. auch Generika, Biotechnologie, Betreuung/Pflege, Logistik/Vertrieb, Medizintechnik und IT.
    - Zweistelliges Gewinnwachstum im Biotech-Sektor
  • · Fundamental and quantitative investment approaches are different, but complimentary.
    · Blending fundamental and quantitative requires scale, research, and integration.
    · A blended approach can lead to consistent performance in different market environments.
    · Risk-aware portfolio construction can lead to high active-share while managing benchmark relative volatility.
  • As a Bank Loans investment expert, Mark Boyadjian, CFA, Senior Vice President and Director of Floating Rate Debt Group at Franklin Templeton Investments will discuss the Bank Loans asset class and the current U.S. bank loans market situation.

    Mr. Boyadjian will provide insights on the following themes, and answer your questions during the live Q&A session.

    Bank loans, a meaningful player in the broader fixed income space

    Credit risk assessment when investing in Bank Loans

    Seeking opportunities in the U.S. market
  • Introduction/description of topic

    What? Factor-investing, or factor-based equity allocations, are entering the mainstream of the investment conversation. But investors are faced with ‘noise’ in the smart beta arena, including uncertainty around how smart beta can solve investment problems, and the differences between ‘smart beta’ and ‘factor’ indices that have exploded onto the scene. So where do they begin?

    Why? If investors have a desire to tilt portfolios towards strategies that can potentially both tolerate market volatility and generate long-term positive returns, exploring how factor-based equity allocations can help achieve these investment objectives is a good place to start.

    How? Practical implementation of exposures to these factors raises a new set of questions such as how to efficiently capture the desired factor exposure(s) while being mindful of turnover and capacity, and how to maintain a well-diversified portfolio.

    This Russell Indexes’ webcast seeks to guide investors through these complexities. We will illustrate how we’ve cut through the noise to focus on what our research has shown to be the most important and complementary factors for portfolio construction: low volatility, value, quality and momentum. We will also provide examples of how factor combination portfolios can align with investor beliefs, preferences, and constraints.
  • How do you combine various risk factors to achieve greater risk-adjusted returns? We will explain:

    1. How combining risk factors provides a diversification benefit
    2. How to efficiently combine risk factors to ensure success
    3. Multi-factor intersection portfolios -- And how they provide greater results compared to simple risk factor combinations

    Register now to join our webcast to learn more about risk factor combinations and how Northern Trust Asset Management can help you navigate a better route to achieving your equity investment objectives, visit us today at northerntrust.com/equityimperative
  • There are valid reasons why this is the case. For starters, A‐shares are simply not on the “radar” of global investors, who rely on the policy benchmark to guide their allocation decisions. When a market is not represented in the benchmark, it is typically ignored. Thus, investing in A‐shares is often considered an “off‐benchmark” bet and tends to be opportunistic in nature.

    In this webcast, MSCI will discuss the findings from their recent research paper “China A-Shares: Too Big to Ignore” and how investors can look beyond the current accessibility issues and should consider A-shares in light of the following:

    Agenda:

    · What are global investors truly missing when they avoid investing in A‐shares?
    · What are some of “implicit costs” of not having A‐shares in a global equity portfolio?
    · What is the potential role of A‐shares (if any) in global equity allocation?
  • Pension funds may have been granted a temporary exemption from the central clearing aspects of the European Market Infrastructure Regulation (EMIR) - an exemption that is likely to be extended - however, there are significant implications they need to start thinking about now. Asset protection is a key concern in a centrally cleared environment with the industry exploring various segregation models to increase asset safety and reduce counterparty risk. Coupled with the growing concern for liquidity availability EMIR is proving to be more challenging than initially thought. Let us guide you through these issues to help ensure you’re prepared and have the optimal solutions in place.
  • Contrary to conventional finance theory, research shows it is possible to generate higher risk-adjusted returns for investors with a low-volatility investment strategy. Many organizations offer solutions that seek to capture this return opportunity, but do so in ways that lead to high concentration in certain sectors, poor liquidity and high turnover costs. RAFI Low Volatility is a smart beta product built from the ground up to exploit the low volatility anomaly while preserving the benefits of passive investing.
  • Integration of smart beta within portfolios to help control exposures

    Global growth of smart beta among asset owners is set for a strong pace in the next 18 months. According to a recent survey conducted by Russell Investments of almost 200 equity decision makers at pension funds, asset owners are looking for products to address unmet needs, such as the ability to control or introduce specific exposures in their portfolios.

    With the continued innovation in the smarter uses of beta, strategy indices designed to target specific factors such as low volatility, momentum and quality have been created to help address these needs. But the availability of product alone is not enough. Asset owners also need to consider how they integrate smart beta in their portfolios, either as a component to make their strategic asset allocation more efficient or as an extra tool to help them implement their strategy more effectively.

    Agenda topics:

    • Key findings from Russell’s recent survey of asset owners on smart beta adoption
    • A proposed framework for incorporating smart beta allocations into an equity portfolio
    • Case studies on implementation within pension fund portfolios

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