An overwhelming number of delegates at the Fiduciary Investors Symposium said the funds management industry was not doing well in innovationMartin Gilbert, who started Aberdeen Standard Investments in 1983 and is now chair, said industry participants needed to innovate and disrupt themselves.

Institutional investors are navigating the different risks that can impact their portfolios in different ways, explained chief risk offers speaking at the Fiduciary Investors Symposium in Cambridge. Arjen Pasma, chief risk officer at Dutch asset manager PGGM noted how risks span investment risk, counterparty risk, liquidity risk and ESG risk. Measuring ESG risk in the manager’s large allocation to private markets where each deal is scored on ESG and climate risk is particularly important, he said.

Innovation is more important than ever given the uncertain and ambiguous times that lie ahead for institutional investors like climate change, political dysfunction and poor returns. “Returns can only come from an ecosystem that works and we need innovation to do this,” said Roger Urwin, global head of investment content, Willis Towers Watson speaking at the Fiduciary Investors Symposium at Cambridge University.

Investors have plenty to gain from helping to protect human rights in supply chains and managing the human costs during technological disruption and the transition to a low-carbon economy.

The big themes that will fuel growth in coming decades are interconnected and subject to change. An expert panel gave advice on riding societal change to outperformance.

Investors discuss the various ways that two styles often presented as if they are enemies in fact work hand in hand across portfolios to produce returns.

The surprise ousting of CalPERS board president Priya Mathur heralds a leadership shake-up that could place final approval of an expanded private equity program on hold.