Name: The future of ESG after the bear market
Start: 2023-06-06T14:00:00Z
End: 2023-06-06T14:01:02.000Z
Location: BrightTALK
Rating: 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.

The soaring sustainable investment industry has failed so far to convince of its robustness, and to reduce the environmental impact of economic activities. Institutional investors and asset managers lack the appropriate tools to build long term, relevant investment strategies. Available environmental metrics are not decision-useful: they are incomplete, binary, confusing, and mainly focused on reporting because of the influence of the international regulatory frameworks.

Investors need environmental tools and methodologies which are:

• Holistic: because environmental impacts are not just a matter of carbon
• Transparent: for the sake of credibility and scientific opposability
• Granular: because alignment metrics and exclusion factors only highlight the very green or the very brown, omitting all shades of transition
• Applicable on all asset classes: in order to make aggregation at (diversified) investor’s level possible
• Collaborative: “alone, one goes faster; together, people go further”, bringing users to work together is the best way to make them build tools which will meet everyone’s needs

This is what the NEC (Net Environmental Contribution) has to offer. Created by investors for investors, the NEC has helped Asset Owners and Asset Managers since 2018 to implement smart sustainable investment strategies: listed equity, private equity, real assets, infrastructures, private debt, sovereign bonds, …

In this webcast, you will learn about how the NEC, an environmental compass, can guide your investment strategies: a reporting metric, a compliance metric, but also and engagement and a decision-making metric, in a complementary way to other traditional or regulatory-focused tools.

Sustainable finance: beyond reporting to investment decision-making

‘Higher for longer’ interest rates, layered with other cyclical and structural trends, mean global real estate markets are undergoing paradigm shifts as we look to 2024.
 
Property yields have risen globally, but not to the same degree as rates, prompting some to suggest further repricing is needed in order to restore spreads. But is real estate dependent on a wide spread over bonds to deliver performance? Or can other return drivers compensate?
 
With ongoing inflationary pressures and other headwinds buffeting the global economy, we assess the growth prospects for rents and how they differ across regions and sectors given varied structural and cyclical trends. Investors may be drawn to growth, but are there also attractive income yields to be found?
 
In M&G’s 2024 Global Real Estate Outlook, we explore the stand-out opportunities and potential traps that need to be considered.
 
Gain insight on parts of the market that could offer attractive income yields; potential opportunities emerging from real estate debt; pockets of strength in the challenged office sector; and the repercussions of China’s economic slowdown on global real estate markets.

Global Real Estate Outlook 2024: Negotiating higher rates & other new paradigms

Trends in securities litigation and how ESG considerations as part of broadening fiduciary duty are driving investor interest in class actions

Three short presentations will be followed by live audience Q&A

Speakers:
– Domenico Minerva, Partner, Labaton Sucharow LLP
– Lee Rudy, Partner, Kessler Topaz Meltzer & Check
– Joseph Gulino, Managing Partner, DRRT

Moderator:
– Martin Hurst, IPE

DRRT
DRRT is an international law firm and market leader in the client-oriented global loss recovery industry. DRRT focuses on the recovery of losses resulting from misstatements, misrepresentations or fraud by public companies and engages in securities litigation, arbitration and other alternative dispute resolution methods around the world. 

KTMC
Kessler Topaz is one of the world’s foremost advocates in protecting the public against corporate fraud and other wrongdoing. Our lawyers regularly take on the most notable and best capitalized defense attorneys — and win — in class actions, shareholder derivative suits, antitrust litigation and other complex litigation around the globe. We are proud to have recovered billions of dollars for our clients.

Labaton Sucharow
With more than 60 years of experience, Labaton Sucharow is a tenacious advocate for investors representing many of the world’s leading pension funds and other institutional investors.  The Firm offers complex litigation services in the areas of U.S and Non-U.S. securities litigation and corporate governance and shareholder rights.

Class Actions: Trends In Securities Litigation

– 10 key questions on the asset class: the opportunities, the risks and the outlook
Plus Live Audience Q&A – 

We explore with Francesc Balcells, CIO, EM Debt at FIM Partners, the opportunity set within EM debt, the risks, as well as the outlook for the asset class. In particular, we will consider the following questions:

1. What is EM debt and what is the EM debt opportunity set?
2. How does one maximise/navigate the opportunity set within EM given the diversity of issuers, currencies, and risks?   
3. EM debt tends to do very well at the end of Fed tightening cycles – is this time different?
4. Is now the right time in the cycle to invest in EM debt?
5. How should investors think of EM debt in the context of global fixed income?
6. How is the case for EM debt evolving against a backdrop of tighter global financial conditions?
7. With de-globalisation taking hold, is the structural case for an EM debt allocation still valid today?
8. How should one view geopolitical risk? 
9. How should one hedge for geopolitical risk? 
10. Where are the best opportunities today in EM debt?

EM debt: if not now, when?

Why should investors rethink their net zero investment approach? Many of today’s solutions only target companies that are already low carbon, Lombard Odier Investment Managers (LOIM) looks at this differently.

In this webinar, Budha Bhattacharya, Head of Systematic Research at Lombard Odier Investment Managers (LOIM), will discuss how high-carbon exclusions can limit investment opportunities, add to concentration risk and slow the transition.

Based on LOIM’s proprietary research and implied temperature rise (ITR) methodology, Budha will illustrate why at LOIM we believe:

• that it is possible to recognise companies already on track to achieve Paris Agreement goals of decarbonisation while also supporting emission reductions by those in transitioning hard-to-abate sectors 
• that a forward-looking approach is essential to identify businesses across industries that can help investors to meet climate objectives whilst ensuring diversified market exposure 

We hope you can join Budha and IPE’s moderator, Brendan Maton, to learn how investors can decarbonise and diversify portfolios, while helping to drive the transition.

Webcast | rethink net zero: investing in the transition

Despite a turbulent macroeconomic landscape which has unfolded over the past 18 months, we believe institutional investors enjoy a unique position to take advantage of the current market conditions. The gradual process of tightening by central banks in developed markets seems to be nearing its conclusion. The discussion now revolves around how long interest rates will remain at higher levels and the pace of economic growth. The euro credit market offers nearly 5% yield for a duration of 4.5 years, the highest level over the last decade. Overall, the fundamentals continue to reassure us on the resilience of European corporates and financials for early 2024. Additionally, the positive technical factors, including healthy inflows and well-absorbed supply, add to the appeal of Euro Investment Grade strategies. 
 
During the webcast, our Head of Fixed Income and Euro Investment Grade will discuss how active euro credit strategies can thrive in 2024. Topics will include:

• What are the opportunities and challenges in the current market environment?
• What are our preferred sectors in the euro credit universe?
• Why should total return credit strategies be able to take advantage of attractive entry points?
• How do you get the most out of your Fixed Income allocation?

Presented by: 
– Marion Le Morhedec, Global Head of Fixed Income, AXA IM
– Boutaïna Deixonne, CFA, Head of Euro Investment Grade & High Yield Credit, AXA IM

Moderated by:
– Jérôme Broustra, Head of Investment Specialists for Fixed Income and Multi-asset Solutions, AXA IM

How Instit Investors Can Leverage Euro Credit’s Attractive Yield Opportunity

Within fixed income there is a myriad of sub asset classes that provide sources of capital, but each reacts to a sustainable objective in different ways. Meanwhile, unlike equity, debt securities can be specifically structured to direct capital to financing sustainable outcomes. What are the uses and abuses of specific debt instruments? What do these securities say about the overall sustainability credentials of the issuing company? In terms of engagement, given that cash is the oxygen of a company, the debt capital markets can be a profound source of influence on companies through constructive dialogue. But when is the right time to engage and when is the right time to divest? Also, how do we know that engagement is truly effecting positive change, failing or simply greenwashing with insincere engagement? Finally, as investors, we must also be true to that fundamental objective of delivering financial returns. How do we balance the two needs of sustainable and financial outcomes?

The Importance of Fixed Income Engagement

• Join our Private Credit Solutions webinar whereby Simon Jardine, Head of Investment Grade and Transition Investments, Infrastructure Debt and Tom Green, Head of Direct Lending will demystify the Private Credit universe. HSBC Asset Management offers Private Credit solutions across Direct Lending and Infrastructure Debt.

• Direct Lending: We offer investors access to an established origination platform, co-investing alongside HSBC Bank into senior secured loans to middle market private equity-backed companies in the UK. Our expert Direct Lending team provide investors with comprehensive access to HSBC Bank’s origination platform and propriety deal flow, identifying lower leveraged direct lending opportunities. ESG is integrated into the investment process.

• Infrastructure Debt: Our philosophy is to provide you with a reliable and effective route to investing in the private infrastructure debt market by leveraging our team’s experience, our group’s leading role and global footprint in this sector and our asset management expertise. We deliver solutions across the full spectrum, from investment grade senior secured infrastructure debt to sub-investment grade mid-market and transition infrastructure loans, sourced globally. We have a fiduciary origination strategy approach to transactions that meets your investment objectives and risk-return requirements. There is a flexible platform of separate managed accounts, with the ability either to invest directly or through non-pooled holding structures.

With monetary policies tightening across major economies as central banks attempt to fight against rising inflation, mainstream fixed rate government and corporate bonds have been vulnerable to the steep increase in yields, devaluing their traditional role as portfolio diversifiers. In today’s economic environment, can Private Credit solutions offer a refuge from potential volatility? Join our Webinar to find out more.

HSBC Asset Management – Diversifying with private credit

Many investors have achieved infrastructure exposure exclusively through the private markets, yet the asset class can also be accessed through listed infrastructure equity strategies. The business models of listed infrastructure companies support the delivery of stable and growing returns alongside the daily liquidity and transparency of public markets investing. 

In this webinar we will address:
• The current valuations and opportunities in listed infrastructure
• How the asset class could be resilient in future challenging market conditions
• How an allocation to listed infrastructure can complement private exposure
• What makes the asset class a good fit for investors looking to achieve compelling financial returns and positive sustainability outcomes

Presented by:
• Emily Foshag, CFA - Portfolio Manager, Listed Infrastructure
• Rishika Davda, CFA - Senior Analyst, Listed Infrastructure
• Brendan Maton, IPE (Moderator)

Listed infrastructure: the case for a strategic allocation

Traditional risk and return assumptions relying on pre-pandemic data are not suited for the economic and market environment ahead. To solve for the next decade’s asset allocation, our team took on the challenging proposition of forecasting interest rates. They identified five “super factors” they believe will influence the level of interest rates going forward. Analyzing these factors alone and in combination led to five scenarios for inflation, growth, and interest rates. Each potential economic future implies an alternate investment multiverse.

Presented by: 
– Radu Gabudean, Ph.D., Vice President, Senior Portfolio Manager, Head of Research, Multi-Asset Strategies, American Century Investments
– Nancy Pilotte, CAIA, Vice President, Senior Client Portfolio Manager, American Century Investments

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IPE International Publishers Ltd is an independent company and is not affiliated with American Century Investments. Listing them does not suggest a recommendation or endorsement by American Century Investments.

Envisioning Interest Rates in the New Economic Multiverse

Impact Investments vereinen als nachhaltige Geldanlagen finanzielle Rendite und gesellschaftliche Wirkung mit dem Ziel, gesellschaftliche Verbesserungen zu erreichen. Damit befindet sich das wirkungsorientierte Investieren im Nachhaltigkeitsspektrum auf der Seite mit strengeren Kriterien und ganzheitlichem Ansatz. Unser Webinar „Impact Investments“ am Mittwoch den 8. November ab 10 Uhr versucht dabei, Ihnen einen aktuellen Einblick in die Arbeit von Impact Investment Managern zu geben und der Frage nachzugehen, wieweit neben der Rendite auch tatsächlich Wirkung gemäß den Sustainable Development Goals (SDGs) erzielt werden kann. In der abschließenden Diskussion können Sie dabei auch Ihre Fragen einbringen.

AGENDA
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Begrüßung und Einleitung
Frank Schnattinger, Chefredakteur, IPE D.A.CH
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Kurzpräsentation
Lutz Engberding, Portfolio Manager
Insight Investment

Kurzpräsentation
Dr. Hannes Manndorff, Managing Director
OeEB Oesterreichische Entwicklungsbank
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Diskussion

IPE D.A.CH-Webinar „Impact Investments”

Two leading industry experts shed light on key industry themes
Plus live Q&A 

ALESSANDRO MUSTO, HEAD OF ESG INTEGRATIONS AND SOLUTIONS, GENERALI INVESTMENTS
• How has asset management corporate culture changed since the advent of ESG?
• What ESG innovations would you highlight in investment processes and what more can we expect?
• What are the key challenges in decarbonising portfolios? And how are smaller institutional clients developing their approach?
• To what degree are asset owners becoming more proactive on ESG issues?
• Reporting on sustainability remains a source of confusion and frustration for many companies and investors. Has there been any tangible progress on this front?

EMMANUELLE SÉE, HEAD OF EQUITY FRANCE, SWISS LIFE ASSET MANAGERS
• What lies ahead as the next frontier in impact investing? 
• How does biodiversity conservation merge as a pivotal component in this journey?
• Flows into ESG funds have receded in 2023: what is the reason for that?
• What is the impact of management fees on investor interest, given that management fees for ESG products are higher than for non-ESG products?
• How can investors play a significant role in addressing the climate crisis while achieving competitive financial returns?

Moderated by Martin Hurst, IPE

ESG: 10 Questions

UBS Exchange Traded Funds (ETFs) has been a pioneer in Sustainable Investing for more than a decade. We have seen sustainable solutions grow from niche to mainstream and are committed to remain at the forefront of the innovation in this space.
 
In this webcast we will discuss the evolution of sustainable ETFs from the early exclusion based solutions, to sophisticated climate-focused products such as Paris Aligned and Green Bond indices. We will delve into the challenges associated with incorporating sustainability into indexed products and highlight the key nuances to consider between equity and fixed income solutions. As a final thought, we will turn our attention to “what’s next” in this exciting space. 
 
By creating solutions that take sustainability into account, we believe our products are well-positioned to meet clients’ needs while helping drive positive change, beyond just financial returns.

Presented by:
Willem Keogh, Head of ETF & Index Fund Investment Analytics - UBS Asset Management
Marco Bontognali, Portfolio Manager Index Fixed Income - UBS Asset Management

Moderated by Brendan Maton

UBS-AM ETFs: Sustainable Investing in Equities and Fixed Income

Unique insights from analysis of data going back 14 years

In an age when ESG has become a hygiene factor, companies are understandably keen to paint a picture of steady improvement. Yet comparable long-term data remains elusive, making it difficult to judge overall progress at the market level.

To fill this glaring hole, LGIM has created a landmark study analysing ESG Score data going back 14 years – turning fragmentation into aggregation. This same ESG Score powers LGIM’s extensive ESG fund offering, including the Future World index family. 

In this in-depth session, LGIM will discuss the methodology behind the new study, the surprising outliers that emerged from the analysis, and what the overall direction of travel means for index investors.

They will also look at how engagement-led active strategies can complement index approaches by driving real-world change at the biggest emitters while unlocking overlooked sources of returns for investors.


For professional clients only. Not to be distributed to retail clients. Capital at risk.

KEY RISK
The value of an investment and any income taken from it is not guaranteed and can go down as well as up, you may not get back the amount you originally invested.

IMPORTANT INFORMATION
The views expressed in this document are those of Legal & General Investment Management Limited and/or its affiliates (‘Legal & General’, ‘we’ or ‘us’) as at the date of publication. This document is for information purposes only and we are not soliciting any action based on it. The information above discusses general economic, market or political issues and/or industry or sector trends. It does not constitute research or investment, legal or tax advice. It is not an offer or recommendation or advertisement to buy or sell securities or pursue a particular investment strategy.

Terms & Conditions - https://www.lgim.com/uk/en/terms-and-conditions/ Privacy Policy - https://www.legalandgeneral.com/institutional/privacy-policy

ESG insights: lessons from the past and for the future

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

Climate indexes have come of age. In the past, most tended to focus on climate risk mitigation, which often exclusively involved fossil fuel sector exclusions. Now, climate benchmarks are able to achieve multiple goals such as reducing the carbon intensity of an investment portfolio, allocating to climate investment solutions or aligning to a specific climate pathway. These innovations are timely since heightened geopolitical risk and record temperatures on land and sea are strengthening investor ambitions and regulatory action when it comes to climate investing.

In this webcast we will address the following topics:

• We show how Net Zero is hard-wiring climate ambition into investment strategies and climate change has become the largest dedicated investment theme within the ESG universe, to a large extent driven by regulatory pressures on investors to formulate and implement decarbonisation ambitions 
• We share pension fund client perspectives and needs around Passive and specifically ESG investing after the 2022 bear market and the motivations driving institutional clients' future allocations to climate investing going forward
• We explore the climate index benchmark jungle to reveal the trade-offs between carbon intensity reduction, decarbonization targets, tracking errors, sector exclusions, and whether or not investments are aiming to capture opportunities

Speakers:
– Michael Lewis / Head of Research ESG; DWS
– Sebastian Schiele / Head of Passive Mandates Sales EMEA & APAC; DWS
– Frederike Bauer / Product Specialist Xtrackers; DWS

The webcast will be moderated by Brendan Maton.

Hardwiring climate ambition & navigating the investable index jungle

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

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

Sustainable investment

ESG Investing

Investment Strategy

Passive investing

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The future of ESG after the bear market

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