Name: Know your beta: Sustainable fixed income investing starts with asset allocation
Start: 2021-10-05T13:00:00Z
End: 2021-10-05T13:52:31.000Z
Location: BrightTALK
Rating: 4.5

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.

Join Aviva Investors’ Real Assets team as they zero in on the big themes investors should watch out for over the coming year.
 
First, you’ll hear from David Hedalen, Head of Real Assets Research, who will give his take on relative value, illiquidity premia, risks and opportunities across real estate, infrastructure and private debt.
 
Then, Mark Meiklejon, Head of Real Assets Investment Specialists, will talk through the main findings of Aviva Investors’ Real Assets Study, which took the pulse of 500 decision makers at institutional investors in Europe, North America and Asia.
 
With a backdrop of rampant inflation, rising interest rates, geopolitical risk and concerns over greenwashing, the Study provides critical insight into:
 
• How this challenging environment is impacting investor sentiment and allocations
• Investor views on the best way to access opportunities
• A deep dive on the prospects for sustainable real assets.
 
A panel discussion will follow with Ben Sanderson, Daryl Murphy, Munawer Shafi and Zoe Austin, who will be discussing where they see some of the best opportunities.
 
We hope you can join us!
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Presented by:
• Ben Sanderson, Managing Director, Real Estate
• Daryl Murphy, Managing Director, Infrastructure
• Mark Meiklejon, Head of Real Asset Investment Specialists
• Munawer Shafi, Head of Multi Asset (Real Assets)
• Zoe Austin, Portfolio manager
• David Hedalen, Head of Real Assets Research

Real assets in the spotlight

The term ‘active ETFs’ is often viewed as a contradiction by many market participants who only know ETFs as passive building blocks in their portfolios, however, the demand for active ETFs is growing globally.

This webinar will debunk some of the myths around active ETFs: Join Ivan Durdevic, Head of ETF Distribution for Austria, Germany and Switzerland discussing the advantages of accessing active strategies through the ETF wrapper and analysing where the market is heading next. He will be joined by Yo Takatsuki, Global Head of Investment Stewardship, exploring how J.P. Morgan Asset Management is getting active on engagement with ESG ETFs.

Presented by:
– Ivan Durdevic, Head of ETF Distribution in Austria, Germany and Switzerland, J.P. Morgan Asset Management
– Yo Takatsuki,  is the Global Head of Investment Stewardship, J.P. Morgan Asset Management

Moderated by: Brendan Maton

Active ETFs – debunking the myths

Private credit funds invested during or in the immediate aftermath of recessions have performed well on a historical basis. Join Randy Schwimmer, Co-Head of Senior Lending at Nuveen’s private capital investment specialist, Churchill Asset Management and Joe Lee, Principal in the Underwriting & Portfolio Management group for their outlook on middle market senior loans and the unique opportunity ahead. Topics will include:

• How are higher rates impacting middle market lenders and borrowers?
• Will there be a shake-out of direct lenders given recession and rate worries?
• How are higher asset yields and the denominator effect affecting private credit portfolio allocations?
• How should private credit investors balance perceived higher risk with higher returns in a potentially higher default environment?
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About Nuveen:
Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $1.1 trillion* in assets under management as of 30 Sep 2022 and operations in 27 countries. Its investment specialists offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. Churchill Asset Management is a majority-owned affiliate of Nuveen with $46 billion in committed capital, and one of the largest, most experienced private capital managers providing financing solutions to middle market private equity firms and their portfolio companies across the capital structure. For more information, please visit www.nuveen.com

* As of 30 Sep 2022. Nuveen assets under management (AUM) is inclusive of underlying investment specialists. Totals may not equal 100% due to rounding.

2023 Outlook: The Unique Opportunity for U.S. Middle Market Senior Loans

This seminar answers the questions on institutional investors’ minds regarding one of the most talked about topics in the alternative investment community. Why would a sponsor (GP) want to access the secondary market? What are the benefits to investors (LPs)? Is this a new investment strategy or a trade? Is this a win-win-win for sponsors, old investors and new investors? Why might you look to allocate to GP-led secondaries if you already invest in traditional LP secondaries? Join Jeff Hammer and Paul Sanabria, Co-Heads of Secondaries at Manulife Investment Management, as they discuss factors which led to GP-led secondaries representing half of the $134 billion[1] secondary market in 2021, and why it is likely to be a meaningful part of the secondary market in 2023 and beyond.

[1] Evercore Secondary Market Survey January 2022

Presented by:
– Jeff Hammer, Senior Managing Director, Global Co-Head of Secondaries, Private Markets, Manulife Investment Management
– Paul Sanabria, Senior Managing Director, Global Co-Head of Secondaries, Private Markets, Manulife Investment Management

Moderated by:
– Sunaina Sinha Haldea, Global Head, Private Capital Advisory, Raymond James

GP-led secondaries – motivations, mechanics, and outcomes

Spurred in large part by the increasing adoption of e-commerce and global supply chain disruption because of the COVID-19 pandemic, the U.S. logistics real estate sector saw unprecedented growth over the last few years.  But will the sector be able to stay hot with the tightening of capital markets and the prospects of global macroeconomic uncertainty looming?  Please join us for an engaging webinar on the future of U.S. logistics hosted by senior leaders from CBRE Investment Management and Trammell Crow Company. These experts include investment, development and operational leaders specialized in the logistics asset class, as well as our head of research for the Americas.

After this sixty-minute session, attendees will have a deeper understanding of:

- The state of the U.S. logistics markets today
- Occupier sentiment and the features occupiers are now demanding
- Why modernity matters to the future of logistics and the future impact of functional obsolescence
- The impact these evolved demands are having on supply
- The impact that the tightening of capital markets is having on supply
- Why commercial real estate investors need to re-examine their portfolio to see if it is “futureproofed”
- Where we see opportunities
- How to execute on these opportunities

Audience interaction through questions will be highly encouraged and our experts will address everyone’s questions live or with a follow-up.

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Presented by:
– Mary Lang - Head of Americas Direct Logistics Strategies and Portfolio Manager
– Tommy Lee - Chief Investment Officer TCC
– Adi Mayan - Head of Logistics Asset Management and Customer Experience Lead for the Americas Direct Real Estate Platform
– Shane Taylor - Americas and APAC Head of Research

Moderated by: Brendan Maton

Industrial is Obsolete – The Future is Logistics

2022 was the worst year for total returns in many areas of the bond market since popular indices were created in the mid-1990s. Why did this happen and do higher bond yields and wider credit spreads point towards an interesting entry point as we start 2023? 
 
Because financial conditions have tightened so much, companies with too much leverage are going to come under increased pressure. In such an environment a focus on high quality credit is required.
 
So although there are risks, we think there are compelling total return opportunities – if you know where to look.

Traditional fixed income is back! We will tell you why and where to find it.

Join us on 14 December when Wenkui Liu, Assistant Portfolio Manager at China’s largest asset manager, E Fund Management, will be joined by Wei Xu, FRM, Vice President, APAC Index Solutions Research, MSCI and Brian Roberts, Head of Exchange Traded Products at Hong Kong Exchanges and Clearing Limited (HKEX). This formidable panel of experts will examine the passive route to capturing China’s strong investment potential.

Presented by:
– Wenkui Liu, Assistant Portfolio Manager, E Fund Management
– Brian Roberts, Managing Director, Co-head of Equities Product Development, Markets, HKEX
– Wei Xu, FRM, Vice President, APAC Index Solutions Research, MSCI

Moderated by: Martin Hurst, IPE

PLEASE NOTE: This webcast is open to Accredited Investors only

China Passive: E Fund, HKEX & MSCI in Conversation with IPE

The STOXX WTW Climate Transition Indices (CTIs), developed in partnership with Willis Towers Watson and Qontigo, offer a completely new way to manage a portfolio’s climate transition risk.

The indices leverage Willis Towers Watson’s proprietary Climate Transition Value at Risk (CTVaR) data, which assesses the anticipated impact of a climate transition on stock valuations through a forward-looking, bottom-up analysis of individual companies’ cash flows.

This webinar will address the challenges and opportunities for equity investors from a world moving to net-zero targets, and discuss the design of an index solution based on innovative and transparent transition data.

Hear from experts at Willis Towers Watson and Qontigo about the CTIs and how they can help investors look at, and manage, tomorrow’s transition risks, today.

Presented by:
– Melissa Brown, CFA, Managing Director, Applied Research, Qontigo
– David Nelson, Senior Director of Climate Transition Analytics, Climate and Resilience Hub, WTW
– Paul Alakija, Managing Director, Head of Asset Owner and Consultant Coverage, EMEA, Qontigo

Moderator: Brendan Maton

STOXX WTW Climate Transition Indices: Managing Tomorrow’s Transition Risk, Today

The global effort to fight inflation has boosted interest rates to levels not seen in almost two decades. Combined with rising geopolitical tension, the resulting financial market turbulence has investors reassessing their equity risk exposure.
 
Join Peter Hardy, Senior Client Portfolio Manager, as he discusses how a value-oriented approach emphasizing superior business models, quality, and sustainable dividends may uncover attractive risk-adjusted return opportunities.

Equity De-risking From a Value Perspective

Interest rate rises and increased uncertainty are putting pressure on asset classes across the board. With bond yields significantly higher, real estate’s risk premium has narrowed, making low property yields more challenging to justify.
 
A price correction across global real estate markets will drive variation in performance of existing portfolios, depending on quality of assets. Increasingly stringent occupier requirements mean buildings without green credentials are at risk of lower occupancy, with ‘brown’ discounts for older property look set to accelerate. Despite the high cost of heavy retrofitting, delaying works could be a false economy.
 
Portfolio allocations are also likely to shift, given that traditional property sectors such as offices are facing structural and cyclical challenges. The living sector looks more resilient as housing is in high need. Helping to bridge the supply gap could therefore mitigate the current upwards pressure on yields through attractive income and growth prospects, while creating a positive social impact.
 
Property revaluations will naturally take time to play out, but as yields reach stabilisation, we believe assets are likely to reflect an attractive long-term value opportunity, with improved performance prospects.
 
With economic headwinds rising, steering through market volatility will require skill and perspective. History shows that it is often in the years after recession that real estate delivers, with the potential to offer the best vintage of investments.
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This information reflects M&G’s present opinions reflecting current market conditions. They are subject to change without notice and involve a number of assumptions which may not prove valid. The value of investments can fall as well as rise. The views expressed in this document should not be taken as a recommendation, advice or forecast.

Global Real Estate Outlook: Steering through volatility in the search for value

STEPHEN ADDICOTT, MANAGING PARTNER, STAFFORD CAPITAL PARTNERS
Forestry is expected to deliver almost 20% of the action needed to meet global emissions targets. We believe that drawing on nature is the most established and proven method for achieving meaningful biodiversity and carbon removal whilst delivering investment returns for clients. This year we've witnessed an increasing interest for low carbon investments driven by disclosure regulation and net zero commitments, and timberland is one of the few investments providing net carbon removal.

DANIEL WILD, CHIEF SUSTAINABILITY OFFICER, BANK J SAFRA SARASIN
The world of sustainable investing has been changing ever since we committed to this topic as the central element in our strategy more than 30 years ago. Global secular trends, evidence of new social or environmental challenges, research findings as well as investor preferences have led to this evolution. At the same time, related investment solutions have been developed to match client expectations in the best possible way. However, the range of sustainable investment objectives and related solutions sometimes leads to misunderstandings and confusion. While new regulations aim at bringing more clarity and standards, they have not yet delivered on this promise.

DUNCAN GOODWIN, FUND MANAGER, PREMIER MITON
We believe the case for sustainable investing in global equities is as strong as it has ever been. Companies that offer products and services the world wants and indeed needs, and can deliver these in a manner that is sustainable and responsible, will grow faster and be more successful than companies that cannot. This backdrop provides multiple drivers for structural growth, which we seek to identify using a thematic approach, balancing market leaders with market disrupters. As sustainable investing matures, we are seeing a variety of approaches, and indeed a disparity of outcomes, which has become particularly evident in 2022.

Moderated by Martin Hurst, IPE

ESG: Three Experts Present Three Angles

In more uncertain macro-economic times, how can infrastructure managers and investors support their forward-looking yield hypotheses? Whether raising a new fund or reviewing expected returns for an existing portfolio, investors need to justify their target IRR with more than just a hunch. This webinar shows how to develop robust yield forecasts using infraMetrics data.
 
During the session, Dr. Frederic Blanc-Brude, director and founder of EDHECinfra, will discuss the following use cases:
 
1. Getting the cash flows right including benchmarking and quantitative approaches.
2. Getting the target yield right. The “cost of time” and the common risk factors to predict risk premia.
3. Smart yield targeting and why it is important for infrastructure investors.
4. Mastering your yield with the infraMetrics.

Smart Yield Targeting for Investors in Infrastructure

Traditional multi-asset portfolios resort to cap-weighted benchmarks to gain exposure to the equity asset class. However, this exposes the portfolio to the drawbacks of equity market volatility, including extreme events and tail risks.
 
VIX has been ticking near its highest level of the last 2.5 years while the U.S. equity market has tumbled year-to-date for an absolute performance of -24.5%. Fixed income markets are also suffering with the U.S. Treasury bond portfolio dropping by -13.1% year-to-date. In this environment, the Scientific Beta Dynamic Defensive equity index has delivered a performance of +9.6% relative to the equity cap-weighted benchmark index.
 
The Scientific Beta Dynamic Defensive index provides an interesting solution to improve the performance of a multi-asset portfolio by allowing for shifts in equity component allocation to boost returns without increasing the overall portfolio risk profile; the dissymmetry of market betas in low and high volatility market regimes enables downside risks such as maximum drawdown and worst 5% one- or three-year rolling returns to be reduced, but also provides a strong average volatility reduction and Sharpe ratio improvement compared to the cap-weighted index.
This webinar, hosted by Dimitris Korovilas, PhD, Investment Product Specialist at Scientific Beta, will present Scientific Beta's dynamic defensive solution in a multi-asset context.

Topics covered include:

• Drawbacks of traditional defensive strategies
• How to do better?
• Scientific Beta Dynamic Defensive Solution
• Dynamic Defensive in a multi-asset allocation

Please contact webinar@scientificbeta.com if you would like to receive the presentation slides and the related research publication on the topic.

Dynamic Defensive Equity in a Multi-Asset Portfolio

Emerging markets (EMs) have had a difficult year amid rising US rates, China property woes and the Russia-Ukraine war, but how much is discounted in asset prices? Janus Henderson Investors equity and debt portfolio managers debate the three biggest challenges facing EMs in the face of rising global recession fears:

• The stronger dollar poses a challenge for EMs, particularly those countries with high external debt. What factors could make EMs more resilient in a rising US rate environment? EMs with higher real rates and accelerated hiking cycles, for example, could stand in better stead, while export-led economies could benefit from selling comparatively cheaper exports, boosting GDP growth and foreign reserves.

• A stronger dollar also means higher imported inflation, a battle against which EM economies are still fighting and a source of civil unrest seen across various countries. For international EM companies, a higher dollar could be a boon for foreign revenues, but costs are another force to contend with.

• Geopolitical risks are another source of volatility facing the EM asset class, evident by the Russia-Ukraine war that has reshaped global supply chains – benefitting some countries while costing others. Similarly, EM corporates benefit from outsourcing trends, while domestic innovation through technological advancement can propel a dynamic shift in dominant players in certain markets and opportunities for them to go global.

Listen to our debt and equity experts to discover where the bright spots could emerge in EMs as we head towards 2023 and what valuations are telling us.

Presented by:
– Thomas Haugaard: Portfolio Manager, Emerging Markets Debt Hard Currency
– Daniel Graña, CFA: Portfolio Manager, Emerging Market Equity

Moderated by: Brendan Maton

Three challenges emerging markets face in the year ahead

From bonds to equities, real assets and alternatives, Northern Trust Asset Management’s forecasts and return expectations will help guide your asset allocation decisions. Join our chief investment strategists and get an inside look into our new Capital Market Assumptions research. 

Key topics include:

• The six investment themes that will shift the market landscape
• Our five-year asset class return expectations
• What this means for investors’ asset allocation and portfolio

Presented by:
– Chris Shipley, Chief Investment Strategist, North America, Northern Trust Asset Management
– Wouter Sturkenboom, Chief Investment Strategist, EMEA & APAC, Northern Trust Asset Management

Moderated by: Brendan Maton

The Next Five Years: What Investors Can Expect

The climate crisis must be tackled head-on and decarbonization of portfolios is an obvious first step. Investors can play a critical role and mobilize the capital needed to finance the companies’ net zero plans. The transition of companies in the real economy is critical for all investors given the systemic nature of climate change risk.
 
In this virtual event, we will discuss:

• The benefits of financing and participating in the transition versus divesting
• The significance of the Energy sector
• The importance of engaging with companies to solve issues and help build a sustainable future
• A wide variety of index approaches according to client needs

Presented by:
– Neeraj Kumar, Executive Director, New Product Research, MSCI
– Juha Venäläinen, Senior Portfolio Manager, Ilmarinen
– Julien Grolée, Programme Manager, IIGCC

Moderated by: Brendan Maton

The Evolution of Climate Investing

IPE Pensions & Technology Forum: Focus on ESG

An opportunity for pension funds, asset managers and technology providers to meet to discuss the technological needs of their industry. This seminar seeks to demonstrate how the advances in technology are supporting  pension funds integrate their ESG policies, opening the discussion on areas such as climate data analysis, structured and unstructured data, ESG reporting or impact investment measurement and visualisation.

09:00 - 09:15 Empowering Asset Owners to Deliver on ESG
Andrew Flynn - Regional Sales Director, Clarity AI

09:15 - 10:00 Panel Discussion: Beyond ESG 
This panel will discuss the topics of the asset owners’ response to new taxonomy; opportunities and limitations in ESG reporting in times of increased regulation and defining the green investment.

Moderated by: Sophie Robinson-Tillet - Contributing Editor, IPE

Kai Rantanen - Head of Performance Reporting & Analytics, Nordea Life & Pension
Jan Kaeraa Rasmussen - Head of ESG, PensionDanmark

The IPE Pensions & Technology Forums are complimentary for asset owners, asset managers and academic institutions. If you represent one of these institutions and would like to explore speaker opportunities, please contact Jakub Janas at jakub.janas@ipe.com.

Please note that we are unable to process complimentary registrations from consultancies, custodians and technology providers. If you represent one of these organisations, please contact us at pensionstech@ipe.com to ask about sponsorship and speaking opportunities.

IPE Pensions & Technology Forum: Focus on ESG

Thematic investing has seen exponential growth over the last few years as investors seek exposures into long-term structural economic trends. 

Portfolios with a thematic focus target the beneficiaries of transformative forces shaping the global economy and societies. Primarily, the wave of technology-driven innovation, which creates efficiencies in businesses, shifts human activity to the digital space, and pushes breakthrough advances in healthcare, communications and other industries.

Index-based products such as ETFs enable investors to access these themes in a systematic, rules-based and objective manner, and the allocations have mostly paid off in terms of returns[1]. As interest rates rise, however, they have presented a test to the growth-oriented themes that populate thematic portfolios. 

This webinar will address the outlook for the strategies amid the volatility we’ve seen in 2022 and explore the reasons why many thematic funds have continued to attract inflows despite the current market conditions. 

Hear from subject matter experts from Qontigo and BlackRock, whose solutions form a comprehensive thematic-focused investment ecosystem. The panelists will also discuss products available to investors as the thematics menu grows and evolves. 

[1] In the five years through 2021, the average return of 26 STOXX thematic indices was 145%, compared with 105% for the benchmark STOXX® Global 1800. Eighteen of the 26 thematic indices outperformed the benchmark over the period. 

Presenters:
– Omar Moufti | EMEA Lead Equity Product Strategist – Sector & Thematics ETFs, iShares
– Yang Wang | Senior Director, Index Product Research & Development, Qontigo
– Christoph Schon | Senior Principal, Applied Research, Qontigo

Moderator: Brendan Maton

Opportunities in Thematic Investing: Exploring the Digital Future and Beyond

Sustainable investing is on the rise. Across the industry, we have seen sustainable fixed income indexing assets more than double every year since 2018, as investors seek to move towards more sustainable fixed income allocations. Investors are considering a variety of approaches to incorporate sustainability into their portfolios, starting with asset allocation.

Hear from BlackRock and IHS Markit experts on how to get started with building or transitioning to a sustainable fixed income portfolio.

Presenters:
– Cara Milton-Edwards, Product Strategist, Fixed Income ETFs, BlackRock
– Smadar Shulman, Managing Director, Head of Index Product Management EMEA, IHS Markit

Know your beta: Sustainable fixed income investing starts with asset allocation

Asset Allocation

Fixed Income

Fixed income ETFs

Institutional investors

Sustainable Investing

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Know your beta: Sustainable fixed income investing starts with asset allocation

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