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Agenda

The LSC schedule will be sent directly to invited asset owners by mid-October

 

Monday October 26, 2020

 

Tuesday October 27, 2020

  • 8:45 am – 8:50 am   |    Opening Remarks

    Louis Gagnon, President, U.S. and Canada

  • 8:50 am – 9:00 am   |   Welcome and Opening

    Christine Bradford, Senior Not-for-Profit Consultant

  • 9:00 am – 9:25 am   |   It’s a Matter of Time: Issues, Themes and Opportunities

    Themes and Opportunities 2020
    Beware of inflation

    Deb Clarke, Global Head of Investment Research
    Susan McDermott, US Strategic Research Director

    Executive summary

    Investors need to be clear on their timeframes, prepared for more “business as unusual” and positioned for climate change — all of which requires a clear understanding of how related risks and opportunities could develop over time. In this session, we outline these themes and discuss the potential opportunities and risks investors should take into account in order to succeed over the next few years.
  • 9:25 am – 9:40 am   |   Investing in a Brighter Future: Conversations with Plan Sponsors

    Facilitator:
    Rachel Volynsky
    , Chief Investment Officer, Delegated Solutions, Canada

    Panelists:
    Yannick Menard
    , Managing Director, Pension Investments, Bank of Montreal
    Roman Kosarenko, Senior Director, Pensions, George Weston Limited

    Executive summary

    In this session, we check in with two of the major plan sponsors in Canada to find out how they’re responding to current challenges and opportunities and preparing for a future that is becoming increasingly difficult to predict. Specifically, how are low rates, elevated equity valuations and macro uncertainty shaping strategic allocation decisions for defined benefit and defined contribution plans with the goal of achieving meaningful replacement ratios for employees?
  • 9:40 am – 10:05 am   |   The Future of Energy

    Monika Freyman, Head of Responsible Investment, Canada
    Rob Bailey, Director, Climate Resilience, Marsh & McLennan Advantage, Oliver Wyman Group
    Sid Vittal, Asset Class Specialist, Alternatives

    Executive summary

    The UN is labelling this the “decade of delivery,” a time for economies and business to be resilient and aligned with global climate goals to build “a better and more sustainable future for all.” The timing, methodology and portfolio implications for different “climate transition” approaches are debatable, but most agree on the starting point: the energy sector. Energy fuels so much of our economy, and it’s now facing the greatest disruption. So where are the known risks, and where might the surprises lie for investors? How can we successfully connect the risks with the opportunities? A successful transition in the decade ahead will require navigating both and finding the investable solutions across asset classes.
  • 10:05 am – 10:15 am   |   A Timely Check-In

    Christine Bradford, Senior Not-for-Profit Consultant

  • 10:15 am – 10:30 am   |   Coffee Break and Table Topics

    Grab your beverage of choice and join one of the groups below to have an informal chat on a topic that interests you.

    1. Insurance Linked Strategies – A Unique Diversifying       Asset Class
    2. Vintage Diversification
    3. Sentinel
    4. Securities Lending
    5. Insurance
    6. DC in the U.S.
    7. DC in Canada
    8. DB in the US
    9. DB in Canada
    10. Family Offices
    11. Financial Intermediaries
    12. Analytic and research Tools 
    13. DS / Investment solutions in the US
    14. DS / Investment solutions in Canada
    15. Capital Market
    16. Asset Allocation
    17. Manager Selection
    18. Portfolio Construction
    19. Equities
    20. Fixed Income
    21. Real Estate
    22. Hedge Funds
    23. Private Markets
    24. Emerging Markets
    25. Responsible Investment
    26. Investment Governance
    27. Financial Wellness
    28. Diversity
    29. World Economic Forum – Global Systemic Trends            and Transformational Investment

  • 10:35 am – 11:05 am   |   A Conversation with keynote speaker, David Gregory

    David Gregory, CNN Political Analyst

    Interviewer:
    Christine Mahoney, Wealth Leader, US

    Keynote Summary

    CNN political analyst and former moderator of NBC News’ Meet the Press, David Gregory finds himself in a rare position of answering questions instead of asking them on the virtual Forum. David, who has long experience as a Washington insider, shares his views on the economic and social impact of the current political climate in the US. For instance, what does this year’s US presidential election mean for the country, its people and the rest of the world? How are the thorny social issues facing the country reshaping its national character? Does the role of the media need to evolve to suit the challenges of the time?
  • 11:20 am – 11:50 am   |   Breakouts

    Breakout 1: Value Investing – Are you Staying the Course or Finding a New Path?

    Is there a case for value?

    Facilitator:
    Kelly Henson, DC Segment Leader, East Market

    Panelists:
    Rich Dell, DC Segment Leader, East Market
    Sean Chatburn, North America Leader, Equity Boutique

    Executive Summary

    Amid a backdrop of persistent low interest rates, the world has becoming increasingly focused on technological development and climate transition. While value stocks have outperformed growth stocks over the very long term, throughout the past decade, they have significantly underperformed. In this breakout, we ask whether you believe value investing still has a place in your portfolio, and we share our perspective. In short, are you staying the course, or is now the time to find a new path?

    Breakout 2: Hedge Fund and Liquid Alts – Do the Merits of Diversifying Alternatives Still Stand?
    Facilitator:
    Jim Treanor
    ,
    Alternatives Leader, U.S. and Canada

    Panelists:
    Derek Drummond,
    Portfolio Manager, State of Wisconsin Investment Board
    Trent Webster, Senior Investment Officer, Strategic Investments for the State Board of Administration of Florida

    Executive summary

    We are joined by representatives of two of the most sophisticated public pension plans in the US. We explore how they’ve built their respective hedge fund programs, examining how they began with different objectives but arrived at many of the same strategies. We hope to address several questions, including: Have your hedge fund program objectives been met? What lessons have you learned with emerging managers? Have you been able to identify diversified sources of alpha? Which strategies scale best? The discussion includes the changing landscape of institutional investors as the new warehousers of risk.

    Breakout 3: Dealing with the Doldrums: Fixed Income Strategies in the Lower-for-Longer Environment

    Opportunities in dislocated credit markets
    Time to buy (high yield): revisited

    Facilitator:
    Gregory HalaganCo-Head of US Insurance

    Panelists:
    Nicholas Martowski, Chief Investment Officer, Magmutual
    Casey Plante, Director of Investments, M Health Fairview

    Executive Summary

    Low interest rates are not a new challenge facing investors, but recent market movements and global central bank forward guidance suggest that these challenges will be with us for the foreseeable future. Our panelists aim to help by illustrating what actions they have taken to meet the challenges caused by today’s low-yield market environment. Key questions we hope to provide guidance on include whether the role of fixed income has changed and how to balance the need for more yield without taking unnecessary risk. In addition, the panel explores current market opportunities and risks while tackling whether investors should increasingly target private debt allocations as a way to acquire risk premium.

    Breakout 4: The Implications for Real Estate Investing in a Post COVID-19 World

    US private real estate - implications and opportunities amid COVID-19

    Facilitator:
    Allison Yager
    , Global Alternatives Leader, Real Estate

    Panelists:
    Bill Grubbs, Managing Director, Invesco
    Jim MattinglyDirector of Real Assets, Indiana Public Retirement System

    Executive summary

    The outbreak of COVID-19 has rapidly evolved into a major world economic downturn but could also lead to long-term changes for real estate markets. This breakout session explores the effects COVID-19 will have on real estate investing in the next few years. Which property sectors will experience the greatest impact? Which the most benefit? In addition, since opportunities typically follow distress, what real estate investing opportunities will emerge?

    Breakout 5: Private Equity – Is Infinite Capacity Possible in a Post COVID-19 World?

    Impact of COVID-19 on private equity co-investments
    Co-investments - a primer
    Impact on private equity: Searching for opportunities in a crisis

    Facilitator:
    Raelan Lambert
    ,
    Global Alternatives Leader

    Panelists: 
    Amy Lesch,
    Partner, Client and Partner Group, KKR
    Leslie Lenzo, Chief Investment Officer, Advocate Aurora Health

    Executive Summary

    Infinite capacity to private equity investment opportunities was not available pre-COVID, and the continuation of a low-interest-rate environment is generating increasing LP demand for strong returns from their private equity portfolios. While capacity constraints to high-quality managers will continue post-COVID, GPs are finding ways to engage with LPs to meet ever-increasing demand. Bespoke separately managed accounts, evergreen opportunities and co-investments are some of these methods. Secondaries are another means by which LPs can benefit from portfolio rebalancing and potentially gain access to capacity-constrained opportunities. In this panel, our GP and LP experts explore how the private equity industry and opportunity set is evolving post-COVID and provide insights on how they are continuing to deploy capital at scale in an increasingly competitive environment.
  • 12:00 pm – 12:50 pm   |   The (Hypothetical) World Pension Fund: Investment Ideas in Practice

    CIO: Jay Love, U.S. Investment Consulting Leader

    Sub-committee chairs:

    Public Equity
    Nicole Delahanty
    , Senior Investment Consultant

    Private Equity
    Texas Hemmaplardh
    , Co-Head of US, Endowments

    Fixed Income
    Chris Tschida
    , Co-Head of US Insurance

    Real Estate
    David Axelson
    , Senior Investment Consultant

    Hedge Funds
    Chris Grimm
    , Co-Head of US Healthcare

    Executive summary

    The investment environment is rapidly evolving as risks and opportunities present themselves. Future returns are generally expected to be lower than in the past, and investors need to consider how to achieve their goals while still managing risks. There are many approaches to improving outcomes, requiring thoughtful consideration of their fit with an organization’s objectives and risk tolerance. In this session, you serve on the investment committee of the World Pension Fund, a hypothetical retirement plan that provides a steady retirement income to millions of current and future retirees. As part of the committee, you consider the recommendations of the Fund’s investment advisors for potential changes to improve the long-term results of the Fund’s investments. This interactive session includes an audience polling following each subcommittee recommendation before the final portfolio is unveiled.
  • 12:50 pm – 01:00 pm   |   Final Remarks

    Rich Nuzum, President, Wealth

  • 01:00 pm – 01:20 pm   |   Optional: Meet the Speakers

 

Wednesday October 28, 2020

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