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.

Subscribers (13,288)
Factor investing putting academic evidence into practice: How to implement it in Maaike Veen More and more investors are realising the advantages of factor investing and starting to implement its lessons not just as an afterthought, but as a top-down element of the overall investment strategy. A large percentage of pension funds still have a cover ratio that barely exceeds the minimum requirement and face funding issues due to the ageing demographics. To meet liabilities, pension funds are looking for higher returns while at the same time have less appetite for risk. Is factor investing the solution for the seemingly opposing challenges of risk and return? Read more >
May 26 2015
58 mins
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  • More and more investors are realising the advantages of factor investing and starting to implement its lessons not just as an afterthought, but as a top-down element of the overall investment strategy. A large percentage of pension funds still have a cover ratio that barely exceeds the minimum requirement and face funding issues due to the ageing demographics. To meet liabilities, pension funds are looking for higher returns while at the same time have less appetite for risk. Is factor investing the solution for the seemingly opposing challenges of risk and return?
  • The Power of Rebalancing: Fact, Fiction and Why it Matters

    It is well-understood that rebalancing is a necessary step in restoring a portfolio of volatile assets back to its target weights. Whether it is performed periodically or triggered when actual weightings move too far from target, rebalancing a portfolio will naturally lead to selling assets that have outperformed the portfolio, and buying assets that have underperformed the portfolio.

    It is much less widely understood that rebalancing can actually be a source of return for the portfolio. Despite the fact that this observation dates back to 1982 [Fernholz and Shay] and has been successfully used to manage portfolios for nearly as long, it has come under considerable attack in the recent past by some academics and practitioners. The main arguments used by these detractors are:

    1. There is no return benefit, because the portfolio’s expected wealth does not increase.
    2. The return benefit exists, but is due to diversification, not rebalancing.
    3. The return benefit relies on mean-reversion.

    These arguments may appear compelling at first glance, but all three are fundamentally flawed. This webcast will tell you why.


    INTECH Investment Management LLC will act as sub-adviser to Janus Capital International Limited. Janus Capital International Limited (JCIL) is authorised and regulated in the UK by the Financial Conduct Authority.
  • Why Listen:

    Learn about investing globally in private credit
    Insights into private credit fundamentals worldwide
    Learn how private credit is originated
    Key thoughts and considerations around portfolio construction and diversification in North America, Europe, Australia/New Zealand and developed Asia
  • 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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  • · 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?

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