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Pre Conference Masterclass, Monday 7 July 2008
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9.30am | Asset Allocation Strategies for alternative investments
Masterclass objective: To explore the magnitude of issues associated with investing in alternative asset classes. Identifying the hottest alternative asset classes including private equity, hedge funds, investing in infrastructure and real estate. Understanding the benefits and risks involved and how to practically integrate alternatives into existing portfolios. Educating investors on how to evaluate, optimise and profit from best practice strategies.
The masterclass will be broken down into the following key sessions:
• Evaluating the changing investment environment, identifying the hottest asset classes and integrating them into your existing portfolio
- Private Equity
- Hedge funds
- Infrastructure
- Real estate
• Managing the risks involved
• Getting access to top tier managers
• Fees and costs structures
Who should attend:
• Superannuation funds and KiwiSaver funds
• Fund managers
• Fund trustees and board members
• Government regulators
• Community trusts
• Insurance companies
• Family offices
• Asset consultants
• Endowments and foundations
• Retail platforms and master trusts
• Private bankers
Times and documentation:
Registration for the masterclass starts at 8:30am. The course will commences at 9:00am and conclude 1:00pm (2 x 90 minute sessions). Refreshments will be provided. Participants will receive comprehensive course documentation, including all presentation material.
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1pm | Close of Masterclass
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Conference Day One, Tuesday 8 July 2008
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8.30am | Welcome coffee and registration
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9am | Opening address from the chair
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| GLOBAL ECONOMIC FORECAST AND VOLATILITY OUTLOOK |
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9.10am | Keynote address:
The 12 month projection for the New Zealand economy –the horizon for NZ investors
The continued growth story of capital inflows into alternatives
• The Asian Pacific market growth story
• Leading investment strategies in New Zealand’s asset allocation market
Donal Curtin, Managing Director, Economics New Zealand |
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9.40am | Keynote address:
The unique profile of trans-Tasman investment options
• Analysing the trans-Tasman investment market offering – commodities, real estate and funds
• How can the region capitalise on this trend?
• Steps to making your fund globally attractive |
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10.10am | Keynote panel discussion:
The impact of KiwiSaver – changing New Zealand investment landscape forever
The introduction of KiwiSaver has significantly altered the development of the NZ super industry. As the funds mature and further legislation is enacted, these funds will continue to evolve. Key issues in the development of the model include:
• Deconstructing the KiwiSaver market – the breakdown of investment flows
• Strategies for moving beyond simple default strategies
• The projected growth of the super industry in New Zealand over the next 5 years |
| | Moderator: Dr Patrick Nolan, Senior Economist, New Zealand Institute of Economic Research Confirmed: Mr Leo Krippner, Head of Investment Strategy, AMP Capital Investors
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10.50am | Morning tea and coffee
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| GLOBAL STRATEGY INSIGHTS FOR THE NZ MARKET |
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11.20am | NZ Superannuation Fund case study – latest asset allocation review
The strategic asset allocation reflects a balancing act between risk and return and shapes the investment strategy of the Guardians of New Zealand Superannuation. The latest review follows reviews in 2005 and 2003. Key issues considered in the latest review include:
• Reconsidering the risk profile given a fall in the expected equity risk premium
• How best to incorporate private market investment opportunities
• Implications arising from the Fund’s ‘smoothing role’ |
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11.50am | Executive presentation:
Sources of return in a NZ balanced portfolio
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Allocating to a wider range of beta sources
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Traditional and new sources of alpha
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The challenges of implementation
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12.20pm | NZ Case study: Venture Capital in New Zealand
There are a variety of challenges in building a strong mix while balancing your risk and return in a volatile market environment. New Zealand Venture Investment Fund is building a portfolio of high growth potential kiwi companies in New Zealand’s venture capital investment market. Key factors in building this fund:
• The process of new manager due diligence
• Analysing high risk investments
• Development of best practice processes and guidelines |
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12.50pm | Networking lunch
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2pm | Executive presentation:
Portfolio construction as an ongoing process
• Establishing performance benchmarks – identifying alpha and beta?
• Long term manager evaluation processes
• Risk/return characteristics of central asset classes |
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| RISK BUGETING, FUND GOVERNANCE AND BEST PRACTICES |
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2.30pm | Panel discussion:
Best practices in risk budgeting
• The risk profile of alternative assets
• A re-evaluation of traditional assets
• The role of tactical asset allocation in navigating risk rapids |
| | Moderator: Dr Patrick Nolan, Senior Economist, New Zealand Institute of Economic Research
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3.10pm | Speed networking
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3.50pm | Afternoon tea and coffee
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4.20pm | Executive Presentation:
Pushing the frontiers of SRI globally
- Drivers of SRI Growth
- Issues to consider in portfolio construction and investment selection for insitutional investors and retail product providers
- Ethical/SRI/Sustainable/Thematic investing
- The long term invsetment potential of 'cleantech' investments
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4.50pm | Chairman’s closing remarks from day one
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5pm | Close of day one
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Conference Day Two, Wednesday 9 July 2008
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8.30am | Registration and welcome coffee
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9am | Opening address from the chair
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| ASSET ALLOCATION FOR THE LONG TERM PERSPECTIVE |
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9.10am | Keynote presentation:
New challenges in asset allocation
• Evaluating trends, strategy and decision making
• Looking beyond traditional investment models
• Establishing fund ambitions |
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9.40am | Keynote Case study:
Innovative investment strategies
• Originality in portfolio construction
• The rationale for deviating from traditional investment models
• The long view for the portfolio |
| | Mr David Cannings, General Manager, Investment Services, Anglican Church, Sydney Diocese
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10.20am | Executive presentation:
How U.S. college endowments invest?
How does a leading endowment plan it’s asset allocations strategy? The most important roles and responsibilities of the investment committee, the growth story of a top performing endowment
• Characteristics of the optimal investment committee
• Managing communications between the investment office and the investment committee
• Policies that guide investment management |
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10.50am | Morning tea and coffee
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| IN-DEPTH STUDY OF GLOBALLY ATTRACTIVE ASSET CLASSES |
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11.20am | Executive presentation:
A fresh look at NZ investment opportunities
What are the leading investment options for NZ investors? How are they performing? Where can investors find the best value?
• A review of the best performing investments
• Is residential property still performing?
• Commodities in NZ and Australia |
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11.50am | Executive panel discussion:
The longevity of the commercial property market in NZ
• Evaluating listed entities and unlisted entities
• KiwiSaver and the opportunities this presents
• Case study – institutional fund capital sourced from Australian superannuation funds
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12.30pm | Panel discussion:
Evaluation of the leading alternative investments: Hedge funds, infrastructure & timber
• Evaluating the leading alternative investment strategies
• Due diligence on alternatives
• Lessons learnt from failed investments |
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1.10pm | Networking lunch
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2.10pm | Panel discussion:
Socially responsible asset allocation for investors
• The day to day reality of responsible investment
• Relevance of a benchmark in evaluating the funds performance
• What the funds will look like in 5 – 10 years
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| A BREAK DOWN OF GLOBAL MARKETS AND OFFERINGS |
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2.50pm | Executive presentation:
The global hedge fund industry in 2008
• Where to find great managers
• Manager evaluation and due diligence
• Lessons learnt from past mistakes
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3.20pm | Afternoon tea and coffee
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3.40pm | Panel discussion:
Changes in traditional asset types
• The ongoing story on NZ equities
• The domestic fund manager landscape
• Evaluating global equities in a time of volatility |
| | Confirmed: Mr Robert Walton, Chief Executive Officer, Claremont University Consortium
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4.20pm | Roundtable discussions
• What are key sset allocation strategies to achieve alpha?
Robert Walton, Chief Executive Officer, Claremont University Consortium
• What is the election criteria for a top performing super fund?
• How will fund of funds continue to evolve?
Anthony Limbrick, Chairman, Absolute Return Association New Zealand
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5pm | Chairman’s closing remarks
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5.10pm | End of day two and close of conference
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