Name: High Yield Debt: Multi-Factor Investing & Scientific HY Investing Explained
Start: 2023-03-27T13:00:00Z
End: 2023-03-27T13:01:15.000Z
Location: BrightTALK
Rating: 4.9

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.

Signs that ongoing problems in China’s property sector could spill over to other parts of the economy sparked a sell-off in Asian markets. Join our Asia investment experts Sue Trinh, co-head of global macro strategy, and Murray Collis, CIO fixed income, Asia (ex-Japan), on this 30-minute webinar as they address the challenges facing the Continent and identify pockets of opportunity within the region.

Investing in Asia: embracing long-term opportunities in the face of uncertainty

The days of ‘NICE’ – the Non-Inflationary Consistently-Expanding market – are gone, with the world of ‘WINE’ – Wild Inflation, Negligible Expansion requiring a marked shift in investor strategy in the coming years.

The market is now expecting interest rates to remain higher for longer. A lot of the investment strategies that relied on low rates no longer deliver the same returns. Investors are keenly seeking an effective hedge against higher interest rates.

Australian real estate credit is well poised to deliver for investors with resilience across the cycle and provides a strong hedge against high-interest rates, offers compelling risk-adjusted return opportunities, and is negatively correlated to real assets and equities. This sector benefits from structural tailwinds and a widening funding gap due to heavy regulatory pressures on the banking sector.

Join us to explore the:
- Shifts in market dynamics
- Compelling aspects of this asset class in an Australian context 
- Commercial real estate sector outlook; and 
- Accessing compelling investment opportunities in the unlisted market.

The Golden Age of Australian Commercial Real Estate Credit

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.

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

IMPORTANT INFORMATION
FOR USE WITH PROFESSIONAL INVESTORS ONLY. NOT FOR RETAIL USE

Northern Trust and its affiliates may have positions in and may effect transactions in the markets, contracts and related investments different than described in this information. This information is obtained from sources believed to be reliable, and its accuracy and completeness are not guaranteed. Information does not constitute a recommendation of any investment strategy, is not intended as investment advice and does not take into account all the circumstances of each investor. Opinions and forecasts discussed are those of the author, do not necessarily reflect the views of Northern Trust and are subject to change without notice.
Investing involves risk- no investment strategy or risk management technique can guarantee returns or eliminate risk in any market environment.

Northern Trust Asset Management is composed of Northern Trust Investments Inc, Northern Trust Global Investments Ltd, Northern Trust Fund Managers (Ireland) Ltd, Northern Trust Global Investments Japan KK, NT Global Advisors Inc, 50 South Capital Advisors LLC, Northern Trust Asset Management Australia Pty Ltd, and investment personnel of The Northern Trust Company of Hong Kong Ltd and The Northern Trust Company.

©2023 Northern Trust Corporation. Head Office: 50 South La Salle Street, Chicago, Illinois 60603 USA
Issued in the United Kingdom by Northern Trust Global Investments Ltd. Issued in the EEA by Northern Trust Fund Managers (Ireland) Ltd.

The Next Ten Years: What Investors Can Expect

What do you think about when you hear the term private credit? If you think it is all about small and/or leveraged companies and projects, think again.
 
For decades, the higher quality (investment-grade and crossover) private markets have provided institutional investors with opportunities – whether through corporate, infrastructure, real estate or alternative/structured asset classes – to diversify their portfolios and generate premia to public bond markets. From the other perspective, investor demand for such assets has given borrowers the opportunity to diversify lending bases and better manage refinancing profiles. This borrowing universe ranges from the world’s very largest multinationals to modestly sized enterprises, characterised by good quality credit metrics and which are typically found in defensive sectors…
 
… and yet, these markets seem to be barely discussed in the mainstream, vis-à-vis more leveraged financing strategies. 
 
In this webinar, we explore how the private credit universe can be better understood, and how it can serve different return and risk profiles. We consider various high quality investment types that exist across the private credit universe, examining the role and benefits of structural protections for such unlisted debt, and how private credit may be used as a means to diversifying portfolios.
 
We will also consider the outlook for private markets, noting its essential role in sustainable investment.

Demystifying the private credit universe

“Living” real estate sectors have grown from a niche and unscalable part of the real estate universe, to become the sector of choice today. €244 billion flowed into the European Living sector in the last three years, displacing all other sectors to reach top spot for the first time. The dream is turning into reality.

Living has emerged from simply private rented residential (PRS) real estate, to now include purpose-built student accommodation (PBSA), senior living, micro-living, serviced accommodation, single family rentals and hotels. Each of these sub-segments have appealing yet different investment characteristics. They offer both long term cash flows or more tactical investment opportunities too.

While sociodemographic trends are inherently supportive, the sector also offers strong diversification benefits for commercial real estate investors too. This supports the investment case for both specialist and diversified strategies.

The increasing depth of the market, through the growth in the number of investible sub-segments, means the sector requires further investigation and a thorough understanding – particularly in the rapidly evolving area of ESG. The nuances that really matter to tenants should matter to landlords too.

In this seminar, experts from across abrdn will explore the evolution of the Living sector, dive into the detail that investors must be aware of and highlight where we believe the strongest opportunities lie.

Presented by: Marc Pamin, CEO of Living, abrdn | James Dunne, Head of Operational Real Estate, abrdn | Murdo McIlhagger, Joint Managing Director, MYS Living | Craig Wright, Head of European Real Estate Investment Research, abrdn | Martin Hurst, IPE (Moderator)

Living: the dream - opportunities in residential real estate

Institutional investors around the globe are planning significant increases in infrastructure investments, according to Nuveen’s Equilibrium survey. Investors see solutions in the sector for everything from inflation mitigation and yield to impact and climate risk. Join Nuveen’s infrastructure experts Biff Ourso, global head of infrastructure, and Jay Rosenberg, head of public real assets, alongside Marc deBree, head of real estate and alternatives for the General Account at TIAA, one of the world’s largest institutional investors with a history of infrastructure investments. The conversation, hosted by IPE’s Brendan Maton, will explore this diverse sector, including:

• Today’s infrastructure landscape and investor motivations 
• The macroeconomic trends driving growth and the sector’s likely evolution  
• Risks and opportunities in the current market 
• Decision factors for investing across the public and private capital stack
• Opportunities from energy transition and the viability of using infrastructure to reach carbon reduction goals
Nuveen 
• Insights from TIAA, one of the world’s largest institutional investors with a history of infrastructure investments   

Presented by:
• Jay L. Rosenberg - Head of Public Real Assets and Portfolio Manager, Nuveen
• Justin “Biff” Ourso, CFA - Global Head of Nuveen Infrastructure
• Marc deBree, CAIA - Head of Real Estate and Alternatives for the TIAA General Account

Is infrastructure the panacea that institutional investors believe?

REITs haben während Rezessionen kontinuierlich eine bessere Performance erzielt und sind auch bei Inflation widerstandsfähig geblieben. Investitionen in gelistete Immobilien bieten trotz der Bewertungsunterschiede ähnliche langfristige Renditen wie private Anlagen. Sie sorgen für Diversifizierung über verschiedene Sektoren und Märkte hinweg und passen sich an wechselnde Trends an, was potenziell zu Gewinnsteigerungen führt. Durch Investitionen in Immobilienaktien mit soliden Schuldenstrukturen wird die Widerstandsfähigkeit des Portfolios gestärkt und ermöglicht es, wirtschaftliche Herausforderungen zu meistern. Am Mittwoch den 6. September ab 14.00 Uhr haben Sie die Möglichkeit, sich Claudia Reich-Floyd anzuschließen, die als Managing Partner und Portfolio Managerin bei Hazelview Investments tätig ist, um mehr über die vorhandenen Chancen und Möglichkeiten zu erfahren.

AGENDA
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Begrüßung und Einleitung
Frank Schnattinger, Chefredakteur, IPE D.A.CH
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Präsentation
Claudia Reich Floyd
Hazelview Investments
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Q&A

IPE D.A.CH-Webinar „REITs – where are we now?”

The rapid rise of passive investing is one of the stand-out phenomena of this century. Detractors have long argued that it is largely underpinned by excess liquidity from central banks in the wake of the 2008 Global Financial Crisis. Once that drains away, as has happened conspicuously in the last two years, the wheels will come off the passive bandwagon.

Against this backdrop, Sebastian Schiele, Head of Passive Mandates Sales EMEA & APAC at DWS Xtrackers, will elucidate the findings of the  newly released Passive Investing Report 2023 “Passive investing after the bear market”. 148 pension plans have participated in the survey. They have provided practical insights into how passives have advanced into core portfolios and how they have fared in the bear market of 2022. The survey conducted by CREATE Research is sponsored by Xtrackers.

The webcast will address the following topics:

• How have passives performed compared with actives in pension portfolios in the 2022 bear market? 
• Why is passive investing now a foundational trend even though the bear market has exposed its limitations? 
• How will active and passive styles continue to complement one another in a diversified pension portfolio? 
• Why are passives likely to experience product widening and deepening in the next wave of growth?

The webcast will be moderated by Brendan Maton.

The future of passive investing after the bear market

Billal ist Vertriebsleiter und Investment Spezialist bei SparkChange. Zuvor war er Head of Specialist Equity Sales bei HSBC, wo er für die Bereitstellung von Anlageempfehlungen für eine Vielzahl institutioneller Anleger weltweit verantwortlich war und den Vertrieb einer Reihe erfolgreicher Börsengänge in den Bereichen Industrie und erneuerbare Energien leitete. Er ist CFA Charterholder und erhielt seinen BA in Wirtschaftswissenschaften von der Durham University (2009).
 
Das EU Emission Trading System ist bald 20 Jahre alt, doch bei Anlegern ist das Thema erst in den letzten Jahren bekannter geworden. EUAs bieten ein einzigartiges Ertragsprofil aufgrund der fundamentalen Funktionsweise des Marktes und weisen niedrige Korrelationen auf zu anderen Assetklassen. Anleger können EUAs auf zwei arten nutzen: 1) zur Partizipation am erwarteten Preisanstieg 2) um CO2 neutrale Portfolien zu kreieren. In unserem Vortrag erläutern wir die Funktionsweise von EUAs, gehen auf die beiden Anwendungsgebiete ein und geben einen Marktausblick.
 
HANetf wurde mit dem Ziel gegründet, Vermögensverwaltern und Unternehmern über unsere White-Label Plattform die Möglichkeit zu geben, eigene OGAW-ETFs erfolgreich aufzulegen und zu vertreiben. Dadurch möchten wir europäischen Anlegern einzigartige und innovative ETFs anbieten. Die vorgestellten Gold Investmentstrategien repräsentieren diese Idee dank der einzigartigen Verbindung von ESG mit der Rohstoffwelt.
 
Das Webinar findet am Mittwoch den 12. Juli 2023 von 10.00 bis 10.45 Uhr statt.

IPE D.A.CH Webinar –  EU Emissionsrechte (EUAs) als neue Assetklasse

Join us for a webinar exploring the significance of biodiversity in corporate and investment strategies. Discover why focusing on our ecosystems is crucial from both economic and financial perspectives. Learn about the importance of a comprehensive biodiversity framework to address impact, the challenges of reporting and objective setting. Gain insights into the supply-chain aspect of biodiversity data and the importance of standardization. Explore the integration of biodiversity into investment practices, and its link to climate index solutions. 

Presented by:
– Antonio Celeste, Director, Sustainable Product Management, STOXX
– Frederike Bauer, Product Specialist Xtrackers, DWS
– Hernando Cortina, CFA, Managing Director, Head of Index Strategy at ISS ESG

Moderated by: Brendan Maton

Unveiling the Biodiversity Paradigm: from Reporting to Investment Integration

Fixed income investors are facing a new market regime characterised by a heightened volatility, high inflation, and tighter monetary policies. This uncertain environment, where market risk sentiment can change overnight, is here to stay and wreaking havoc on investors’ portfolios. What is clear is that the role of fixed income needs to evolve. Investors should incorporate new implementation approaches to address the new markets challenges and build resilient portfolios.

Join Vasiliki Pachatouridi, Managing Director, Head of iShares Fixed Income Product Strategy EMEA and Smadar Shulman, Managing Director, Head of Fixed Income Core and ESG Indices, S&P Dow Jones Indices, to find out more about the new market regime and the role of index-based fixed income strategies. 

Presented by:
– Vasiliki Pachatouridi, Managing Director, Head of iShares Fixed Income Product Strategy EMEA
– Smadar Shulman, Managing Director, Head of Fixed Income Core and ESG Indices, S&P Dow Jones Indices

Moderated by: 
– Brendan Maton

Investing in a new fixed income era

DESCRIPTION:  As the ESG landscape evolves, investors continue to face challenges. ESG portfolios can create significant tracking error to policy portfolios and traditional benchmarks. To address this as well as individual client preferences and increased regulatory scrutiny, PGIM Quant believes an effective ESG strategy needs to include the following: 
 
ROBUST PORTFOLIO MANAGEMENT:  By definition, ESG investing introduces risk into portfolios as it deviates from the original investment mandate, and therefore, from the originally selected benchmark. Comprehensive ESG portfolio construction requires a robust ESG model, focus on risk awareness, and the ability to outperform in proportion to the targeted risk.

TARGETED ESG SOLUTIONS:  The right ESG strategy should match the client’s desired risk and return profile – but not just when ESG is in favor. Rather, the ESG exposure should be additive so as not to detract from the fiduciary goals, and an asset manager’s response to those goals must be targeted and specific without introducing material tracking error, sector bets, or unintended risks.

TRANSPARENCY:  Simply labeling an investment “ESG” no longer has any true meaning – ESG can mean many things to many people. Historically, companies have been arbitrarily classified as either “good” or “bad” based on a simplistic ESG score.  However, as investor expectations – and regulatory scrutiny – have evolved, that methodology has become outdated.  Rather, we believe it’s imperative to focus on a company’s impact in order to unwind the activities of a company across targeted norms and exclude from the investment universe those firms that fail to meet standards in compliance with a client’s beliefs.

Looking at the risks associated with ESG – both good and bad – along with the need for transparency, gives investors true exposure to the ESG metrics that matter to them.

Systematic Sustainability: How to Do ESG Better

Amid prolonged market uncertainty and a banking crisis that is reshaping the real estate debt investment environment, opportunities for alternative lenders and investors are growing. 

Discover these opportunities whilst understanding the impact of the current market, the dynamics of sectors, how best to incorporate sustainability objectives and navigate common challenges entering the European commercial real estate debt market.

Host Brendan Maton is joined by Nuveen Real Estate’s specialists – Head of European Debt, Christian Janssen, Director of Research, Darren Rawcliffe and Global Client Group Director, Liora Walter.

How market volatility is rewriting the real estate debt environment in Europe

*For UK professional investors only*

With rising interest rates, increasingly unaffordable rents and the prospect of government legislation that is likely to have unintended consequences for the very renters it is designed to help, the UK housing market is facing serious challenges that are likely to hit the ‘squeezed middle’ of society hardest.

In contrast, UK defined benefit pension schemes have seen significant improvements in funding levels and are now looking for income generative investment solutions as inflation-linked cashflow becomes more important than ever. 

Can the issues that the UK housing market faces be solved in a way that offers an innovative investment proposition to UK pension schemes and an opportunity to have a positive societal impact? 

We believe that it can, and that Gradual Home Ownership may be one of the answers.  
 
Join AllianzGI’s Adrian Jones and Nigel Purves from Wayhome to learn more about the opportunity that exists for UK pensions schemes to help tackle the housing crisis by investing in a diversified portfolio of residential property that aims to generate inflation-linked incomes for pension members and provide individuals and families the opportunity to get on the housing ladder without the need for debt or government subsidy. 
 
In this session we will explain the concept of Gradual Home Ownership, discuss how it is already helping people across the UK and describe the solution that can be delivered with the help of UK pensions schemes.

Is 2023 a CRISIS for UK home ownership and residential property investment?

ESG investing has been advancing rapidly into core pension portfolios since the 2015 Paris Agreement on climate change. It came of age in 2022 in the face of two unexpected challenges: the savage market rout and the strong political backlash in the US.

Against this backdrop, Sebastian Schiele, Head of Passive Mandates Sales EMEA & APAC at DWS Xtrackers and Prof. Amin Rajan, CEO Create Research will discuss the findings of the Passive Investing Report 2023 ESG investing after the bear market. The survey provides a timely perspective on the future of ESG investing after its first major setback. 148 large pension funds globally, collectively managing EUR 1.7 trilion in assets have been surveyed. 

The webcast will address the following topics:

• Why has ESG performance faltered in 2022? Is it a blip or a big departure from the recent past;  duly distinguishing between idiosyncratic drivers and market drivers? 
• How have ESG funds performed in relation to other funds against their respective benchmarks? 
• Looking ahead, what factors would drive your investments in ESG?
• What would be new and different about ESG 2.0? Why? And how?

The future of ESG after the bear market

American Century’s Global Value team will offer their insights on high-quality, dividend-focused and low-volatility value investing in today’s uncertain economic and market environment.

The team will highlight:
• The current state of the U.S. consumer
• The challenges facing the regional banking industry
• How the housing market influences central bank policy

Presented by:
Jeff John, CFA,  Vice President, Senior Portfolio Manager
Paul Howanitz, CFA, Portfolio Manager, Senior Investment Analyst
Mike Rode, CFA, Vice President, Senior Client Portfolio Manager

One Year Later: The Fed’s Assault on Inflation - and How to Prevail

Gold hat seinen Glanz als sicherer Hafen und Diversifikator nicht verloren, vor allem im aktuellen Zinserhöhungszyklus. Aber die negativen Folgen auf Umwelt und Gesellschaft beim Abbau machen dem Ruf des Edelmetalls im Zeitalter der Nachhaltigkeit zu schaffen. Lassen sich diese beiden Aspekte vereinen? Wir glauben ja und möchten Ihnen zwei Lösungsansätze vorstellen: Recyceltes Gold und einen ESG-Risikoansatz zur Bewertung von Goldminenbetreibern.

HANetf wurde mit dem Ziel gegründet, Vermögensverwaltern und Unternehmern über unsere White-Label Plattform die Möglichkeit zu geben, eigene OGAW-ETFs erfolgreich aufzulegen und zu vertreiben. Dadurch möchten wir europäischen Anlegern einzigartige und innovative ETFs anbieten. Die vorgestellten Gold Investmentstrategien repräsentieren diese Idee dank der einzigartigen Verbindung von ESG mit der Rohstoffwelt.

Andre Voinea ist Leiter der DACH-Region bei HANetf. Er verfügt über 15 Jahre Erfahrung in der Finanzbranche mit Schwerpunkt auf ETFs und indexbasierten Investments. Vor seiner Anstellung bei HANetf war er in verschiedenen Rollen bei FTSE Russel, ETF Securities und Nomura tätig.
Das Webinar findet am Mittwoch den 24. Mai 2023 von 10.00 bis 10.45 Uhr statt.

IPE D.A.CH Webinar: So lässt sich Gold in nachhaltige Portfolios integrieren

Investing in today's market can be challenging. With unprecedented uncertainties, it's more important than ever to have a core equity portfolio that can deliver resilient alpha, hedge risk, and enhance your returns.

That's why we're excited to invite you to our upcoming webinar, "Equity Fusion: A New Approach for Modern Markets." In this webinar, you'll learn from the President of Intech International, David Schofield, and discover:

• Insights into an evolving equity market structure 
• Challenges in navigating time-varying risks
• Latest innovations for modern markets

Don't miss this opportunity. Register now for our webinar, "Equity Fusion: A New Approach for Modern Markets," and take the first step towards modernizing your core equity portfolio.

Equity Fusion: A New Approach for Modern Markets

MARTIN NYBYE SØRENSEN OF JYSKE CAPITAL will discuss how credit investors significantly benefit from including a structured approach to multi-factor investing in their portfolio regardless of the market environment. We demonstrate how a combination of three main factors: Value, Momentum and Quality can provide investors with consistent risk adjusted alpha through a cycle and argue why it needs to be combined with a traditional qualitative issuer research process and a risk balanced portfolio implementation. 

BENJAMIN BRODSKY OF BLUECOVE will explain that scientific high-yield Investing relies on a transparent, structured investment process based on economic intuition. It takes advantage of market inefficiencies that are underexploited by most market participants as it applies its investment insights daily to securities in the global liquid high-yield universe. Scientific Investing benefits from the expanding data landscape, increasing market breadth and the growing electronification of trading. The resulting alpha is generally uncorrelated to risk markets and differentiated from existing discretionary approaches.

Speakers:
Benjamin Brodsky, CFA, Chief Investment Officer, BlueCove
Martin Nybye Sørensen, Head of Corporate Bonds at Jyske Capital

Moderator:
Martin Hurst, Director of Communications, IPE

High Yield Debt: Multi-Factor Investing & Scientific HY Investing Explained

High yield debt

Multi-factor investing

Scientific high yield

Investment Strategy

Credit investing

Fixed Income

Asset Allocation

Portfolio Management

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High Yield Debt: Multi-Factor Investing & Scientific HY Investing Explained

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