Jason Brady: Investment opportunities during a global emergency

The global macroeconomic environment is different from a generation ago. With cash rates close to zero, and debt instruments diminishing in both yield and defensive characteristics, it is becoming harder than ever to construct income portfolios for retirees. This first quarter of 2020 has seen market volatility and further unorthodox central bank behaviour as the world chooses to shutdown output to contain coronavirus. This session considers both the scope of the challenge for investors and the potential opportunities that exist to navigate this temporary health problem.

Speaker: Jason Brady, chief executive officer, Thornburg Investment Management

Moderator: Alex Proimos, head of institutional content, Investment Magazine

Length: 20 mins

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NZ Super cuts benchmark return expectation on US valuation concerns

NZ Super cuts benchmark return expectation on US valuation concerns

A view that the US stock market is overvalued and equity risk premia will be lower over the long term has driven New Zealand Super to lower the return expectations for its reference portfolio following its recent five-yearly review of the benchmark. Co-chief investment officer Brad Dunstan also flags underweight commodity exposure as an area to address and explains why the fund remains sceptical of illiquidity premia despite seeing a growing case for private markets.

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The role of insurers helping create sustainable pension systems

Ensuring a sustainable income in retirement is an enduringly knotty problem and one that continues to preoccupy countries' pension systems and their asset manager partners. NEST, Sweden's Fund Selection Agency and US asset manager Apollo reflect on the future of retirement.

HarbourVest: Europe’s illiquid markets make private markets difficult

John Toomey, chief executive officer of Boston-based HarbourVest Partners shares his observations of investment opportunities in Europe where the availability of capital, skill and risk appetite still pales compared to the US.

The case for Bitcoin as a store-of-value asset in pension portfolios

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Chasing market swings a ‘loser’s game’ for active managers: Loomis Sayles

Aziz Hamzaogullari, chief investment officer of growth equity strategies at Loomis Sayles, has urged active investors to focus on long-term consumer and enterprise demands, warning that chasing short-term market moods and toggling between “risk-on” and “risk-off” positions is ultimately a “loser’s game”. 

Apollo: Integration crucial for Europe’s investment future

Tristram Leach, the London-based head of investments at Apollo, said a lack of integration among the fragmented European regulatory and market structures is making it harder for investors to deploy in the region. He warned that, without deeper coordination, Europe risks missing out on the global capital rotation.

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