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The COVID-19 global health and economic crisis has highlighted the need for leadership and capital to be urgently targeted towards the vulnerabilities in the global economy. So what does a sustainable recovery look like and how can institutional investors collaborate to make sure it happens?[vc_quotes layout=”accordion” quotes=”%5B%7B%22name%22%3A%22Gilbert%20van%20Hassel%22%2C%22job_role%22%3A%22Chief%20executive%2C%20Robeco%20(The%20Netherlands)%22%2C%22content%22%3A%22Gilbert%20Van%20Hassel%20has%20been%20chief%20executive%20and%20chair%20of%20the%20executive%20committee%20of%20Robeco%20since%20%20September%202016.%20Van%20Hassel%20has%20over%2030%20years%E2%80%99%20experience%20in%20the%20financial%20services%20industry%2C%20mainly%20in%20asset%20and%20wealth%20management%2C%20with%20broad%20experience%20in%20Europe%2C%20Asia%20and%20the%20US.%20Until%202013%20he%20was%20Global%20CEO%20ING%20Investment%20Management%20and%20member%20of%20the%20board%20insurance%20and%20asset%20management%20of%20ING.%20Before%20joining%20ING%20in%202007%2C%20he%20worked%20for%20JP%20Morgan%20where%20he%20held%20various%20executive%20positions%20in%20Europe%2C%20Asia%20and%20the%20US.%20Van%20Hassel%20has%20a%20Bachelor%3Bs%20degree%20in%20Applied%20Economics%20from%20the%20University%20of%20Antwerp%20St%20Ignatius%20(Belgium)%2C%20an%20MBA%2C%20with%20a%20major%20in%20International%20Finance%20from%20the%20Catholic%20University%20of%20Louvain%20(Belgium)%20and%20a%20Master%20of%20Science%20in%20Finance%20from%20Purdue%20University%20(US).%22%2C%22image%22%3A%2231903%22%2C%22linkedin%22%3A%22https%3A%2F%2Fwww.linkedin.com%2Fin%2Fgilbert-van-hassel-4720995b%2F%22%7D%5D” title=”Speaker” el_class=””][vc_quotes layout=”accordion” quotes=”%5B%7B%22name%22%3A%22Colin%20Tate%22%2C%22job_role%22%3A%22%20Chief%20executive%2C%20Conexus%20Financial%20(Australia)%22%2C%22content%22%3A%22Colin%20Tate%20has%20been%20an%20investment%20industry%20media%20publisher%20and%20conference%20producer%20since%201996.%20In%20his%20media%20career%2C%20Tate%20has%20launched%20and%20overseen%20dozens%20of%20print%20and%20electronic%20publications.%20He%20is%20the%20chief%20executive%20and%20major%20shareholder%20of%20Conexus%20Financial%2C%20which%20was%20formed%20in%202005%2C%20and%20is%20headquartered%20in%20Sydney%2C%20Australia.%20The%20company%20stages%20more%20than%2020%20conferences%20and%20events%20each%20year%20%E2%80%93%20in%20London%2C%20New%20York%2C%20San%20Francisco%2C%20Los%20Angeles%2C%20Amsterdam%2C%20Beijing%2C%20Sydney%20and%20Melbourne%20%E2%80%93%20and%20publishes%20five%20media%20brands%2C%20including%20the%20global%20website%20and%20strategy%20newsletter%20for%20global%20institutional%20investors%20conexust1f.flywheelstaging.com.%20One%20of%20the%20company%E2%80%99s%20signature%20events%20is%20the%20bi-annual%20Fiduciary%20Investors%20Symposium.%20Conexus%20Financial%E2%80%99s%20events%20aim%20to%20place%20the%20responsibilities%20of%20investors%20in%20wider%20societal%2C%20and%20political%20contexts%2C%20as%20well%20as%20promote%20the%20long-term%20stability%20of%20markets%20and%20sustainable%20retirement%20incomes.%20Tate%20served%20for%20seven%20years%20on%20the%20board%20of%20Australia%E2%80%99s%20most%20high%20profile%20homeless%20charity%2C%20The%20Wayside%20Chapel%3B%20and%20he%20has%20underwritten%20the%20welfare%20of%2060%2C000%20people%20in%2028%20villages%20throughout%20Uganda%20via%20The%20Hunger%20Project.%22%2C%22image%22%3A%2231893%22%2C%22linkedin%22%3A%22https%3A%2F%2Fwww.linkedin.com%2Fin%2Fcolin-tate-839a5a181%2F%22%7D%5D” title=”Moderator” el_class=””][vc_empty_space height=”10px”]
Key takeaways
Social spirit needs to be nurtured for those that are working at home alone.
A sustainable recovery has the same three requirements as a sustainable economy:
We need a healthy planet – 1 million animal species are threatened with extinction
Wealth and wellbeing need to be fairly shared
Good governance across government and corporates
One silver lining is how willing people are to think differently and endure sacrifice during the pandemic.
Will the world finally wake up to the climate crisis? Hopefully, but we should not be complacent. After all, ‘This time it’s going to be different’ is a dangerous line because human behaviour is very slow to change.
Government will have to play a role to ensure the definition of fiduciary duty includes greater appreciation of sustainability considerations.
If we collaborate and persist in actively voting and engaging we can achieve great change that will impact the world far for generations to come.
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Poll results
Do you align your investment objectives with the SDGs?[vc_line_chart x_values=”” values=”%5B%7B%22title%22%3A%22Yes%20(24%25)%22%2C%22y_values%22%3A%2224%22%2C%22color%22%3A%22blue%22%7D%2C%7B%22title%22%3A%22No%20but%20plan%20to%20in%20the%20next%2012%20months%20(10%25)%22%2C%22y_values%22%3A%2210%22%2C%22color%22%3A%22pink%22%7D%2C%7B%22title%22%3A%22No%20but%20are%20having%20discussions%20around%20a%20plan%20for%20this%20(41%25)%22%2C%22y_values%22%3A%2241%22%2C%22color%22%3A%22green%22%2C%22custom_color%22%3A%22%23555555%22%7D%2C%7B%22title%22%3A%22No%20(24%25)%22%2C%22y_values%22%3A%2224%22%2C%22color%22%3A%22mulled-wine%22%2C%22custom_color%22%3A%22%23f4524d%22%7D%5D”]
The Florida State Board of Administration has made some strategic moves to take advantage of opportunities in the dislocation, including in private equity, distressed debt and active listed equities.. But CIO, Ash Williams, is concerned about the underlying real economy.
Investment opportunities in emerging markets include high yields on local government debt and cheap currencies, while China's Renminbi has proven its resilience and is now considered a safe asset currency according to chief economist at Pictet Asset Management, Patrick Zweifel.
The only solution to the problem of COVID-19 is a vaccination. Oxford University's Jenner Institute is one of the organization's racing to provide a vaccine, and it's director Adrian Hill believes the Institute could have cracked it by year-end.
Founder of SVPGlobal, Victor Khosla tells FIS 2020 delegates that although the opportunities in distressed debt are significant, investors should pick and choose. It's not like 2008.
Real estate is one of the asset classes hardest hit by the pandemic. Although FIS 2020 experts warn that some companies may never return to the office, opportunities are already appearing in smaller, regional hubs while listed real estate will recover quicker than private investments.
CEO of Franklin Templeton, Jenny Johnson, said asset managers need to do more, particularly in boosting diversity and inclusion in the underlying companies they own. She said the industry needed to do more to ensure capital is available to black-run and female-run businesses.
Current fiscal and monetary policies are taking the world down a necessary, but dangerous path, according to co-CIO of Bridgewater Greg Jensen. He told investors asset allocations should focus on diversification, and assets that benefit from fiscal and monetary policy moving together.
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