Industry Innovation Awards
December 12, 2019
New York Public Library
Registration and Buffet Lunch
(West Room 3rd floor)
Opening Remarks (Biddle Room 3rd floor)
Investing in a Low and Negative Interest Rate Environment:
Lower for longer—and longer, and longer. Very low or even negative interest rates dominate the fixed-income landscape these days. In environments where corporate governance structures make it difficult to support long term thinking, how can asset managers best deal with this persistent lack of decent yields? In environments that do support long term thinking, what asset classes are due to yield attractive returns? What does it all mean for asset allocations and hedging plans now and in years to come? Top investors discuss their methods.
Moderator: Ari Jacobs, Senior Partner, Global Retirement Solutions Leader, Aon R&I
Mark Fawcett, Chief Investment Officer, NEST Corporation
Robin Diamonte, Chief Investment Officer, UTC
Stuart Dunbar, Partner, Baillie Gifford International LLC
Mark Schmid, Vice President and Chief Investment Officer, University of Chicago
Can Equities Solve the De-risking Dilemma?
It’s a challenging environment for fixed income, with bonds carrying negative yields as corporate credit quality worsens. But for those looking to de-risk their portfolios, especially as they age, are there any alternatives.
According to Sunder Ramkumar from Capital Group’s Institutional Analytics Group, there are. Following a review of 50 years of market data, he found markedly different risk characteristics within the equity market. Defensive, low beta stocks had materially better downside characteristics alongside good price appreciation. De-risking into these stocks has resulted in the same downside resilience as increasing bond allocations, but with improved annual returns historically.
After his presentation, Ramkumar will open a discussion on how an appreciation of this diversity within the equity market can help de-risk DB plans, create more wealth for DC participants, and improve target date glide path construction.
Presenter: Sunder Ramkumar, Senior Vice President of Capital Group’s Client Analytics Team
ESG for ROI (Return on Investment)
Evidence is mounting that good corporate practices provide ROI advantages. This international panel will explore best practices asset owners and managers are using to apply ESG metrics to increase returns and reduce undue risk. This panel will also vet the question: What returns will I have to give up for the sake of ESG investing?
Moderator: Chris Ailman, Chief Investment Officer, CalSTRS
Kim Thomassin, EVP, Chief Legal Officer and Head of Stewardship Investing, CDPQ
Samantha Stephens, Responsible Investment Analyst, Mirova
Stephen Gilmore, Chief Investment Officer, New Zealand Super
Andre Bertolotti, Head of Global Sustainable Research and Data, BlackRock
What if the FAANGs were not the future of humanity?
Yves Choueifaty, President & Chief Investment Officer, TOBAM will discuss the current state of concentrations in financial markets from an historical and a prospective point of view. He will introduce the benefits of a “benchmark-agnostic” systematic approach, whose solely objective is to provide Maximum Diversification®
Moderator: Kevin M Leonard, Partner, NEPC
Susan M. Ridlen, Assistant Treasurer and Chief Investment Officer, Eli Lilly and Company
Dennis Duerst, President, 3M Investment Management Corp.
David Holmgren, Chief Investment Officer, Hartford HealthCare
Anthony Waskiewicz, Former Chief Investment Officer Mercy
Technology: How it is used in financial institutions and its adaptations
What are the latest developments in financial technology, and how can you take advantage of them? Take blockchain, best known as the delivery system for bitcoin and other cryptocurrencies. But blockchain’s “public ledger” stands to be a great boon to financial organizations, providing security and instant data. It records transaction details after suitable authentication and verification by the designated network participants. Then there’s artificial intelligence, which can sift through mountains of data for good opportunities and also traps. Machine Learning, which is a subset of artificial intelligence helps assess financial markets to find differentiated inefficiencies that are not easily observable. Cyber-security is an ever more urgent need, what with monster breeches of financial data harming so many these days. Third party vendors, cross-border data exchanges, and increased use of mobile communications complicate this vital task. Fintech is the future, and we focus on understanding it for you.
Moderator: Shawn Wischmeier, Chief Investment Officer, Margaret Cargill Foundation
Richard Bersch, Managing Director, J.P. Morgan Alternative Asset Management, Inc.
Solid teams of top talent can mean all the difference. What are top CIOs doing to build the right teams? What could lure talent from a top fund? What are CIOs doing to keep talent longer? This panel will talk with top CIOs and a top recruit about tips and best practices for building the best team for tomorrow and beyond.
Moderator: Christine Giordano, Managing Editor, Chief Investment Officer
Britt Harris, President, CEO and Chief Investment Officer, UTIMCO
Edwin Denson, PhD, Managing Director, Asset & Risk Allocation, State of Wisconsin Investment Board (SWIB)
Kathleen Lutito, President and Chief Investment Officer, CenturyLink Investment Management
Moving to West Room
The Next Generation Award: Title Round
Six illustrious young asset owners have been named finalists for the 2019 Next Generation award. Only one can take the title. Six finalists, a lightning round of questions, one secret ballot per audience member, nearly 100 CIOs and deputies voting, and a single winner of the Next Generation asset owner title, to be revealed at the Industry Innovation Awards dinner that evening.
Moderator: Chad Myhre, Director of Investments, Heinz Family Office
Ruchit Shah, Acting Chief Investment Officer, Texas Treasury Safekeeping Trust Company
Novisi Nirschl, Director, Memorial Sloan Kettering Cancer Center
Tarik Serri, Director, Hedge Funds & Alternative Investments, Trans-Canada Capital (former Air Canada Pension Investments)
Edgar Smith, Managing Director, USC Investment Office
Joseph Fazzino, Senior Director Pension Investments, United Technologies Corporation
Elizabeth Jourdan, Deputy Chief Investment Officer, Mercy
Walk to Dinner at The New York Public Library