Name: Co-investments: opportunities & challenges of successful portfolio construction
Start: 2024-06-13T13:00:00Z
End: 2024-06-13T13:00:50.000Z
Location: BrightTALK
Rating: 4.6

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.

India’s Prime Minister Narendra Modi's first two terms saw significant growth in Indian equities, driven by bold economic reforms and a pro-business stance, and attracting both domestic and international investors alike. As we look ahead, the question arises: Can a third term, marked by a weakened PM reliant on a coalition government, build on this performance? 
In this webinar, Matthews’s CIO Sean Taylor will explore the outlook for Indian equities under Modi 3.0 and how to construct a resilient and dynamic India portfolio in times of rich valuations, a weakening U.S. dollar, and heightened global geopolitical risk. He will discuss: 
• The changed economic and geopolitical landscape facing Modi in his third term. 
• Investor sentiment towards India in the coalition era.
• Can the coalition government agree and deliver reforms to address India's bureaucratic inefficiencies and infrastructure deficits?
•  What is needed for ‘Make in India’ to succeed?
• The themes prioritised under the new budget and potential investment opportunities.
• How to navigate India’s rich valuations and construct resilient portfolios.

Modi 3.0: A New Dawn for Indian Equities?

A set of megatrends is reshaping the world, creating new opportunities and risks for investors in private markets. Our research team categorises the forces at play into five overarching themes:

T = Technology: In an increasingly global digital economy, driven by automation, systems, data and AI, technology will be a key driver of innovation and economic growth.

R = Responsible capital: Both private and public capital is increasingly focused on the need to deliver better social and governance outcomes.

E = Environment: Initiatives to decarbonise the built environment and protect biodiversity are gaining momentum.

N = New global order: A changing global economic and political landscape, and the impact of deglobalisation, will affect both global and local mobility.

D = Demographics: Ageing populations and lower birth rates will result in changing societal needs and new economic challenges.

Our research explores each of these trends in turn and delves into the investment implications across infrastructure, real estate and private debt.

Private Markets Global Megatrends.

With increasing social and environmental challenges facing the world, there is a need for companies to help solve these problems. An opportunity exists for companies to develop products and services that can be used to positively impact the world. By leveraging the framework of the Sustainable Development Goals (SDGs) it is now possible for investors to benefit from impact investing opportunities in liquid markets.

Successful impact investing requires multi-dimensional solutions that not only target companies with alignment to SDGs, but also those with strong ESG and fundamental attributes while balancing risk considerations. More so, every asset owner has unique sustainability and return targets, so impact portfolios must be flexible and tailored.

Join Gavin Smith (Head of Equity Research and Sustainable Investing) and Stacie Mintz (Head of Quantitative Equity) at PGIM Quantitative Solutions to delve into impact investing by exploring:

•        How factor investing helps intersect upside returns with impact
•        The role of combining SDG and ESG insights in impact portfolios
•        Balancing the tradeoff between risk and impact through careful customization
•        Gaining exposure to specific SDGs that align with investor preferences

SDGs: A Liquid Market Approach to Impact Investing

Investing in mid-market infrastructure offers several advantages to institutional investors such as access to unique opportunities with higher growth and diversification potential, which are supported by various mega trends such as the green deal in particular.

In our main investment areas, namely energy and transportation, we highlight the following examples:

Battery storage – enabling the net zero grid of the future

-What are the main trends that have led to the exponential adoption of battery technology?
-What are the major challenges and trends in European BESS projects?
-Case Study based on one of the largest battery storage plants in Germany
-Do batteries have a role to play in longer duration energy storage?

Upgrading Europe’s transportation infrastructure
- The impact of the green deal on the transportation sector is underestimated today and leads to various investment opportunities
- Case study based on the leading rail track maintenance company in the DACH region

Mid-market investment opportunities in the energy & transport sector

Al Rabil, CEO, Kayne Anderson, and Co-Founder and CEO, Kayne Anderson Real Estate, will cover:

- The impacts of US macroeconomic policy on US-based real estate and why alternative sectors are poised for success in the future.
- How shifting demographics in the US are reshaping demand and pushing formerly niche real estate sectors into the spotlight.
- How a shifting economic landscape in the US is creating opportunities for experienced and well capitalized firms to create strong risk-adjusted returns.
- A discussion around the opportunities ahead for alternative real estate assets across equity and debt vehicles.
- How ESG factors are coming into play and central to several strategies.

Demographics are Destiny – Why Alternative Real Estate Sectors Are Attractive

Uncertain and volatile markets in recent years have led many investors to retreat and wait for clarity before allocating capital. In this context, assets with stronger credit metrics have been the natural area of focus, whilst private markets have also offered a haven from volatility. We believe that those looking at traditional developed markets (“DM”) opportunities could benefit from incorporating select emerging markets (“EM”)  private loans in their portfolios, to take advantage of higher yields for comparatively stronger credit exposure.

RBC BlueBay’s Polina Kurdyavko will explore some of the main themes in EM private loans and discuss her insights.

 Key topics include:
• The current opportunity set in EM private loans vs developed market private loans
• Why selecting EM exposure can reduce risk in investor portfolios, dampen volatility and materially enhance returns
• Explore some of the key misperceptions that have historically held investors back

RBC BlueBay: Why emerging market private loans, and why now?

Private real estate credit’s share in the U.S. commercial real estate lending market has grown to fill the void left by the banks. Markets are divided as to whether U.S. commercial real estate prices have bottomed. Join us for a discussion on where the U.S. commercial real estate lending markets will likely go and where the opportunities and risks lie. Questions to be explored include:

- Does rate policy divergence represent a turning point? How should investors think about likely near-term change?
- Why U.S. commercial real estate credit and why now? What’s the medium-term outlook for opportunities and risks in commercial real estate credit?
- What can be expected for commercial real estate credit over the long run?

Execution is key: potential opportunities in U.S. private real estate

UK universities are at the forefront of funding world-class research and innovation.
 
As a long-time partner and investor for UK research institutions, we have witnessed ecosystems continue to grow around world class universities, as portfolios mature from established early-stage university-linked investment platforms.
 
These platforms are producing companies tackling global challenges like gene sequencing, quantum computing, and nuclear fusion. These breakthrough technologies are set to have great impact and revolutionise key industries including healthcare, computing, and energy.
 
Join our webinar as we discuss the emerging opportunities for institutional investment.

University Spinouts: why should institutional investors back UK university innovation

*For professional investors only*

Impact investing has moved up the agenda as a powerful way of delivering financial returns while also tackling the world’s biggest social and environmental challenges. The growth in listed impact strategies continues, as the sector expands beyond its private market origins. What role can institutional investors play in meeting impact goals and how can the transparency of listed markets be leveraged to best effect?  
 
AXA IM’s Jane Wadia and Johann Plé will shine light on the main themes in the listed impact space and present concrete investment opportunities with potentially impactful outcomes across equities and fixed income. Join the webinar for their insights on harnessing listed assets within your investment strategy for pension schemes and insurance companies seeking positive, impactful change that protects people and planet.
 
Topics being discussed include:

• What contribution can listed assets make to delivering impact?
• How should investors incorporate impact in their asset allocation? 
• How to measure impact in listed assets?
• What are the challenges faced by investors seeking to integrate impact in their portfolios?

Speakers:
Jane Wadia, Head of Sustainability, Core Products & Clients – AXA IM Core
Johann Plé, Lead Portfolio Manager Green Bonds and Social Bonds Impact Strategies – AXA IM

Moderated by Martin Hurst, IPE

How institutional investors can deliver meaningful impact via equities and bonds

With the MENA region becoming a significant part of the MSCI EM Index over the past few years, it is a space that is increasingly interesting for EM investors.
 
As one of the fastest growing markets in the emerging world, we believe there is a structural case to hold MENA equities for global institutional investors and asset allocators. This includes:
 
Evolution of Capital Markets
• Capital markets in MENA have evolved rapidly due to regulatory reforms, change of political leadership and will, technological advancements, and increased investor participation 
• Improved liquidity and transparency have made MENA equities more accessible to both institutional and retail investors.
 
Transformational Growth from Non-Oil
• MENA’s non-oil sectors have witnessed significant growth, driven by economic diversification efforts.
• Themes such as technology, healthcare, and renewable energy are reshaping the investment landscape.
• For example, Saudi Arabia is targeting renewables to become 30% of electricity generation. Private healthcare is targeted to represent 40% of overall bed capacity by 2030 

Societal Transformation
• MENA countries are undergoing significant societal changes, impacting business models and investment opportunities.
• Demographic shifts, urbanization, and cultural transformations influence equity markets.
 
Hear Mehdi Kaoukabi, CFA, Portfolio Manager at FIM Partners, deep dive and explain why this growing segment of the Emerging Markets is gradually becoming too big to ignore

MENA Equities: Rethinking Exposure in Emerging Markets

Der anhaltende Russland-Ukraine Krieg zeigt, dass die Zeit nach dem Kalten Krieg vorbei ist. Viele Länder werden sich nun ihrer potenziellen Sicherheitslücken bewusst, sei es in Bezug auf militärische Ausrüstung oder Cyberabwehr. Nur 11 der 32 NATO-Mitglieder haben in den letzten Jahren das gesetzte Ziel von 2% des BIP für Militärausgaben erreicht. Doch angesichts des Kriegsausbruchs in Europa und der sich verschärfenden Spannungen anderswo, erhöhen NATO-Mitglieder nun Ihre Ausgaben, was der Auftragslage von Unternehmen im Verteidigungssektor zu Gute kommt. Gleichzeitig überdenken Investoren Ihre bislang eher vorsichtige Einstellung gegenüber Verteidigung.

• Wie viel Geld fließt derzeit in neue Ausrüstung?
• Welche Rolle spielen AI und Cybersicherheit?
• Und wie können Investoren an der Entwicklung des Sektors partizipieren?

Wir beleuchten diese und weitere Fragen in unserem Webinar.

Marktausblick und Investmentmöglichkeiten im Rüstungssektor

GUIDO BALTUSSEN, Head of Quantitative Strategies - International, Northern Trust Asset Management
Our research reveals that equity factors in emerging markets have been a reliable source of alpha, offering higher returns with lower correlations to developed markets. This indicates that emerging markets are shaped by distinct local conditions, creating unique diversification opportunities for investors. Key topics include:

• Companies with robust governance structures and solid financials that tend to better withstand the inherent risks of emerging markets.
• Improved data quality in these regions now allows investors to assess environmental, social, and governance factors with greater accuracy. 
• Adopting a multi-factor approach and prioritising sustainability can help deliver optimal risk-adjusted returns.

SEAN TAYLOR, Chief Investment Officer, Matthews Asia
Are the prospects for EM equities improving in the current geopolitical and economic climate? Sean Taylor will provide his insights and discuss the need for active management to generate alpha and manage risk in emerging market portfolios. Key topics include:
 
• The key drivers of potential return across the region
• How country, sector, and stock selection can help to navigate risks and achieve success
• Utilizing the full market cap spectrum to drive performance and construct resilient portfolios
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Speakers:
– Guido Baltussen, PhD, Head Of Quantitative Strategies, International, Northern Trust Asset Management
– Sean Taylor, Chief Investment Officer and Portfolio Manager, Matthews Asia

EM Equities: Alpha through Equity factors and Active Management

Consider the beleaguered small-cap asset class: Institutional investors have largely been underweight small caps for years. Today, they represent less than 4% of the broader equity market, the lowest level in nearly 100 years. This allocation decision has been correct, as small caps have lagged large for 9 of the last 10 years.

As inflation moderates and interest rates normalize, small caps may be at an inflection point with attractive valuations and accelerating earnings growth relative to large.

Several other factors weigh in favor of small caps. The trend of deglobalization and nearshoring of supply chains are primed to benefit the asset class for the next decade. Accelerating M&A and the resurgence of IPOs bode well for small-cap active managers. Innovation in AI and biotechnology stands to benefit smaller companies.

In addition to inflation data and central bank policies, the US election in November could be a catalyst, as small caps have historically tended to outperform following elections.

Join American Century Investment’s senior investment director Mike Rode and senior client portfolio manager Jim Shore as they discuss the state of small caps and how a confluence of market conditions could lead to small cap outperformance after years of trailing large caps.

Speakers:
Mike Rode, CFA, Vice President, Senior Investment Director, American Century Investments
Jim Shore, CFA, Vice President, Senior Client Portfolio Manager, American Century Investments

For investors who like small caps but remain underweight: Why wait?

With the recent stock market dominance of the magnificent 7, what lies ahead? Join us for an exclusive webinar where we delve into the world of investing in innovative companies. Discover how to identify proven and future stock market winners, navigate risks, and capitalize on innovations shaping the future of industries.

Exploring Innovation: Uncovering Future Stock Market Winners

Despite the growing emphasis on biodiversity among asset owners and the broader industry, integrating natural capital considerations into portfolios remains challenging, as data, frameworks, and disclosures are still relatively nascent. Join our panel of experts to uncover practical ways to assess biodiversity risks and opportunities and integrate natural capital into your equity portfolios.

Key topics include:

• Gain actionable insights on understanding and mitigating biodiversity risks 
• Explore the latest frameworks, data, and metrics empowering investors to effectively measure exposures and impacts
• Discover practical ways to address a wider spectrum of environmental considerations across your core portfolios

Speakers:
– Julie Moret, Global Head of Sustainable Investing Integration, Northern Trust Asset Management
– Dr. Marcel Jeucken, Founder and director, SustFin 
– Sylvain Vanston, Executive director, climate investment research, MSCI 

Moderator: Brendan Maton

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Northern Trust Asset Management (NTAM) is composed of Northern Trust Investments, Inc., Northern Trust Global Investments Limited, Northern Trust Fund Managers (Ireland) Limited, Northern Trust Global Investments Japan, K.K, 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 Limited and The Northern Trust Company.

© 2024 Northern Trust Corporation. Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A.

Integrating Natural Capital into Equity Portfolios: Practical Considerations

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.

After the underperformance of ESG investments in the bear market of 2022, ESG detractors appear to ignore the latest regulatory and policy overdrive, aiming to improve existing standards elevate ESG as a compensated risk factor in investment portfolios.  These regulatory and policy measures are likely to have a significant impact on investors‘ asset allocation and use of Passive vehicles.

Against this backdrop, Amin Rajan, CEO of CREATE Research and Sebastian Schiele, Global Head of Xtrackers Mandates & Solutions Sales at Xtrackers by DWS will elucidate the findings of the newly released Passive Investing Report 2024 “Are ESG regulatory and policy measures driving asset allocation?”. 156 pension plans have participated in the survey. They have provided practical insights into how investors are reacting to an increasing number of ESG-related regulatory and policy initiatives via their asset allocation. The survey conducted by CREATE Research is sponsored by Xtrackers.

The webcast will address the following topics:

• What ESG-related initiatives in terms of regulation and policy are currently underway?
• How are these likely to increase ESG risk and opportunities being observed as compensated risk factors? 
• What developments could inhibit such evolution of ESG as a compensated risk factor?
• How does this influence institutional investors‘ – chiefly pension funds‘ – view on asset allocation?
• What does this mean for the adoption of passives and passive solutions‘ product development? 
• How are the manager selection criteria becoming ever more robust? 

The webcast will be moderated by Brendan Maton.

Are ESG regulatory and policy measures driving asset allocation to Passive?

Impact Investing: 
• Emerging Markets: Investing for Profits and Progress
• High Yield: Engaging with Issuers on Climate Risk 
• Renewable Energy: Unlocking the Potential

FIONA MANNING, Fund Manager, Premier Miton Emerging Markets Sustainable Fund
"No compromise: Investing for profits & progress in EMs”
Is the tail wagging the dog? Has the focus on decarbonising investment portfolios resulted in an increased risk of failing to achieve global decarbonisation? Geopolitical risk is elevated, development finance and public equity capital flows have been retreating from emerging markets as the impact of higher interest rates in the US crowds out other risk assets. 

PAULA LUFF, Director of Sustainability Research and Corporate Engagement, DSC Meridian Capital
“Addressing Climate Change Through Fixed Income Investing”
Since 2019, 89 asset owners accounting for $9.5 trillion in AUM have signed onto the Net Zero Asset Owner Alliance, committing to decarbonization objectives across their portfolios. While governments, regulators and businesses all have a role to play to combat climate change, asset owners can also play a meaningful role, directing capital towards investments strategies that can have real world, environmental impact.

MARC SCHÜRCH, Head Renewable Energy, Swiss Life Asset Managers
“The Road to Green Energy: Unlocking the Potential of Renewable Energy”
There is no doubt that there is sufficient potential for renewable energy. The difficult question is on how to access it. If we want to achieve climate neutrality by 2050 there is no way around applying various strategies and shaping a framework allowing not just the electricity transition, but also the heat transition and the fuel transition.

Impact Investing: EMs, high yield and renewable energy

Where do co-investments fit into LPs’ portfolios, and what are their benefits? Please join Manulife Investment Management’s private equity co-investment experts, Rajiv Bakshi and Brian Albert, as they discuss:

• Why LPs like co-investments and their expectation that attractive deal flows will continue
• Choosing co-investment funds versus traditional buyout, secondaries, or funds of funds
• How they build co-investment portfolios with a relentless focus on value creation

Speakers:
Rajiv Bakshi, CFA, Managing Director, Private Equity and Junior Credit, Manulife Investment Management
Brian Albert, CFA, Managing Director, Private Equity and Junior Credit, Manulife Investment Management

Moderator by Brendan Maton, IPE

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Co-investments: opportunities & challenges of successful portfolio construction

Co-investment funds

Co-investments

Investment Strategy

Portfolio Management

Portfolio contruction

Private equity

Institutional investors

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Co-investments: opportunities & challenges of successful portfolio construction

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