Question Time Panel Discussion: Managing Assets In, Through and Out of the Crisis
27 May 2020
Covid-19 has certainly thrown up a plethora of challenges for pension funds but we hope some opportunities too!
Come along to our first ‘Investment Question Time’ PIA Virtual Seminar when our Panel of speakers will aim to provide practical insight on current investment issues and the potential risks and opportunities facing pension funds as they continue to manage in, through and out of the current crisis. Feel free to pose your own questions which our panellists will endeavour to answer.
We welcome contributions to the debate, articles to share, thought pieces, and questions you would like the Panel to consider.
Topics we will aim to discuss include:
Macro Outlook and opportunities for investment strategy and asset allocation going forward
Risk management, legal and governance challenges
Liquidity and cashflow management
Where next for LDI strategies?
Sponsor covenant, funding levels and investment strategy
Navigating New Opportunities - bfinance
Manager Intelligence and Market Trends, May 2020 - bfinance
PIA PENSION FUND SURVEY RESULTS - May 2020
John Lewis Partnership Pensions Trust
Martin is the Head of Trustee Services at the John Lewis Partnership and a member of their Investment Sub Committee. Prior to that he was the Director of Finance and Risk for the GSK UK Pension Schemes and Secretary to the Trustee for the GSK Common Investment Fund. He is a UK Chartered Accountant and a qualified member of the PMI and IEBA with a background in scheme management, audit and consultancy. He has worked on virtually every aspect of scheme management for UK, US and European schemes. He was a member of the PLSA Investment Council for 10 years during which time he was a Board Director and chaired the Investment Council for 2 years. He is currently a member of The Panel on Takeovers and Mergers and the UK IPC as well as being involved in a number of industry initiatives.
Andrew Clare, Trustee and Chairman of the Group Pension Scheme Investment Committee, Magnox Electric
Andrew is the Professor of Asset Management at Cass Business School and the Associate Dean for Corporate Engagement, where he is responsible for the business school's executive education arm. Before joining Cass, he was a Senior Research Manager in the Monetary Analysis wing of the Bank of England which supported the work of the Monetary Policy Committee. He is the co-author of “The Trustee Guide to Investment” and has published extensively in both academic and practitioner journals on a wide range of economic and financial market issues, with a recent focus on pension drawdown strategies. Andrew is an independent NED at LGIM, and serves as a trustee and as the Chair of the Investment Committee of the £3.5bn Magnox Electric Group Pension scheme; and is an independent member of Quilter Plc’s Investment Oversight Committee.
Ian is a Partner at Sackers, the UK’s leading law firm for pension scheme trustees, employers, corporate investors and providers. He has 20 years’ experience of advising on all aspects of DB, DC and hybrid pension arrangements, large and small. Ian is lead partner for a number of the firm’s clients, especially those in the financial services, manufacturing and automotive sectors. His recent experience includes advising on future service benefit changes, funding negotiations, liability management including buy-ins and buy-outs, and administration service agreements. He also has a keen interest in the legal aspects of pension scheme investment.
Sam Gervaise-Jones, Head of Client Consulting, UK and Ireland, bfinance
Sam is head of client consulting for the UK and Ireland with over 19 years of experience in financial markets. He joined bfinance in 2004. As a Senior Associate in the research team, Sam advised clients on manager selection in a wide range of asset classes. Since 2007 Sam has been responsible for advising many of bfinance’s largest Corporate and Local Authority Pension clients in the UK and led the initial expansion of bfinance in to the US. Prior to bfinance, Sam spent 4 years with Standard & Poor’s in their fund rating business. Sam holds the CFA charter, IMC and Series 7, 24, 62 and 79 designations in addition to an MA (Oxon) in Mathematics from the University of Oxford.
Ian McKinlay, Chief Investment Officer - LBG Pensions, Lloyds Banking Group
Ian is the Chief Investment Officer of the Lloyds Banking Group pensions schemes, looking after assets of some £45bn across several large DB and DC schemes. As the bank holds capital against its DB liabilities the emphasis is on financial risk management through liability hedging.
In the last 3 years he has built a new in-house team, transforming the investment strategies and governance arrangements for the schemes. The number of mandates has broadly halved. This includes new mandates awarded – which have sought to exploit return seeking opportunities, or to hedge risk. Costs, including fund management, have been cut 25pc. This has been enabled through dynamic decision making within the CIO team, within a strong framework of oversight.
Ian was previously the CIO at the UK Pension Protection Fund and then at Aviva Staff Pensions, during his tenure these schemes won awards for innovation in strategy, risk management and governance.
Bob Noyen, Chief Investment Officer Record Currency Management Ltd.
Bob is Record’s Chief Investment Officer, a member of the Executive Committee, and chairs the Investment Committee. He is also a member of the Investment Management Group (IMG). Before joining Record in 1999, Bob worked as a financial analyst for Algemene Bank Nederland and then in consulting in Indonesia, before joining Minorco in 1989, where he was Assistant Treasurer. Bob has a MBA from the University of Georgia and a BA in International Business from the Hogeschool voor Bedrijfskunde.
Kerrin founded and leads Cardano’s UK team and has overall responsibility for the UK business. Kerrin is widely accepted as one of the UK’s investment thought leaders, playing an influential role in pioneering many concepts that are in mainstream use today, such as liability driven investing, fiduciary management and diversifying assets. Before setting up Cardano in the UK, Kerrin spent 15 years as an investment adviser at Aon Hewitt. Kerrin graduated from the University of Manchester with a degree in Economics, and qualified as an actuary in 1995.