Nicolette Rubinsztein: Happy ageing: lifelong health, wellbeing and contentment

How to ensure a happy retirement for all Australians? How can we predict people who will age happily? This session will dispel certain myths and draw on research from the Blue Zones, a Harvard longitudinal study and the works of Ellen Langer and George Vaillant. The conversation will traverse topics spanning mental health, diet and exercise, alcoholism and the impact of community and purpose. 

Speakers: Nicolette Rubinsztein, director, SuperEd; UniSuper; OnePath Insurance; Zurich Australia

Facilitator: Laurence Parker-Brown, institutional content producer, Conexus Financial

Length: 26 mins

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Future Fund: AI world order defined by US-China split will hurt capital owners

Future Fund: AI world order defined by US-China split will hurt capital owners

A geostrategic standoff between the US and China over AI would be “extremely damaging for capital owners” according to the Future Fund, Australia’s A$337 billion ($237 billion) sovereign wealth fund, which outlined four “secular scenarios” around AI and its investment implications.

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Portfolio Engineering

For decades, we have engineered scalable portfolios to help institutional investors achieve their goals. In the past, these goals have typically been financial (eg. return and risk targets), but now many investors are also seeking to achieve environmental and social impacts through their portfolios. We believe the best way to achieve both financial investment goals and these impact goals is through portfolio engineering that incorporates these objectives holistically, beginning with crisply defining an investor's goals, systematically looking across a variety of asset classes to find assets that are aligned with these goals, and then combining those assets to create a portfolio that is designed to achieve a high ratio of return to risk.

New Policy Concensus

We are now at a turning point, with Democrats controlling both legislative chambers and the presidency, and an emerging concensus among Democratic policy makers and their advisors that enables fiscal spending that is both significant in size and ambitious in scope. Later this year, we expect to see the first expansionary fiscal package centered around the pursuing long-term social, environmental, and competitiveness policy goals (following the more immediate COVID recovery package). In these Observations, we explore two key shifts in Democrats' thinking underlying these policy proposals, which we expect will be sustained well beyond this fiscal package.

Social Conditions Consideration

The ultimate goal of economic policy is simple and timeless - to ensure prosperity and maximise living standards. Broad macroeconomic measures such as GDP growth, the unemployment rate, and inflation had for decades been a good proxy of rising prosperity, so they have dominated economic policy making and are enshrined in most central bank mandates. But even before the COVID-19 crisis, it had become clear that traditional economic measures have increasingly diverged from social outcomes.

Secular Supply and Demand

Over the past two decades, China's secular rise dominated commodity markets, as its industrialization required a massive amount of raw materials to build up the country. As we consider the future, we see many reasons to be bullish on commodities tactically, but one of the most important secular factors will likely support industrial commodity demand for years to come: the shift in global economies away from fossil fuels and toward greener energy.

Diversity Impact Score

Throughout its history, the U.S. domestic Asset Management Industry, projected by PwC to grow to $71.2 trillion in assets under management by 20251, has exhibited an empirical lack of diversity with respect to gender and ethnicity within its ranks. Numerous studies have shown that Women and People of Color (“POC”) are underrepresented in the Industry, including a 2019 study commissioned by the Knight Foundation finding that Asset Management firms owned substantially or majority-owned by Women or POC managed only 1.3% of the Industry’s total assets under management.

Sustainability in the time of Covid-19

2020 underlined just how closely connected the world is. The pandemic broke out in a market in China but quickly spread to the rest of the world. The health crisis soon escalated into a serious economic crisis – a crisis of which we still do not know the full consequences of. Being able to act quickly and safely in a changing world is more important than ever. Many of PensionDanmark’s members and companies have endured periods of lockdown, and jobs have been lost as a consequence. The hotel and restaurant industry, the transport industry and the many employees at Denmark’s airports have been particularly hard hit. Many of the companies that were not shut down had to implement restrictions and other measures to protect themselves against COVID-19.

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