Retirement is a recent phenomenon in history and has acquired several preconceptions around a typical experience. This thought-provoking session explores the reality of ageing in the 21st century and the contemporary needs of members. After this session the question has to be asked, what will we call this conference next year?
Participant: Paul Gordon, Co Author Spenditude, Principal Aon’s smartMonday
Facilitator: Alex Proimos, head of institutional content, Investment Magazine
Length: 23 mins
Investment committee meetings, a governance cornerstone at every asset owner organisation, run the risk of amplifying group biases and social dynamics, and can push the IC towards recommending more extreme investment positions collectively than the average of their individual views. Bernhard Scherer, head of portfolio implementation at ADIA, unpacks the thesis in a new paper.
Many asset owners are hesitant to invest fiduciary capital into cryptocurrencies due to their perceived volatility and uncertain fundamentals, but Australian pension fund AMP Super, which has bought into Bitcoin via its DAA program, argued that they could be an emerging store-of-value asset comparable to gold.
Private asset managers can expect to work harder for LP capital as allocators increasingly look for more bespoke, flexible structures that meet their changing needs around liquidity, fee and types of exposures. Investors at FIS Oxford unpack how they approach manager relationships in the new era of private investments.
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”.
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.
The risk of litigation and liquidity concerns mean America's 401(k) funds won't venture into private markets for five to 10 years, said T. Rowe Price's Michael Davis, speaking at FIS Oxford. But he said legislation has played a powerful role in shaping the US retirement industry.
Dutch investor APG is showing its deep commitment to Asia by installing its chief investment officer of private markets in the Hong Kong office, a prime location from which to proactively source opportunities. The fund outlines its plan to increase allocation in infrastructure and private equity while integrating impact themes.
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