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Day One, Monday 4 August 2008
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08.15 | Registration and welcome coffee
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09.00 |
Opening remarks from the chair
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| ALTERNATIVE INVESTMENT EXPERIENCES OF PENSION FUND
TRUSTEES |
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09.10 | International trustee address:
The American pension fund trustee experience with
investing in Alternatives
• Overview of investing in Alternatives in the United States
• Which assets fall within the Alternatives mix and what types
of returns are being chased
• Perception of absolute return strategies in the current market
climate
• Types of managers and factors for manager selection
• Process of getting Alternatives approved by the board
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| MARKET INTELLIGENCE: GLOBAL EVENTS AND DEVELOPMENTSTHATWILL IMPACTYOUR PORTFOLIO |
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09.50 | Keynote presentation:
Direct impact of sustainability factors on your investment
returns
• Translating ESG research to into mainstream investment analysis
• Developing investment strategies based on ESG –
Sustainable Investment Policy of the fund
• Investment governance policy of the fund
• Delivering superior risk-adjusted returns by considering ESG
issues
• Implications on selection of external managers
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10.30 | Morning tea and coffee
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| DIVERSIFICATION: INSTITUITIONAL INVESTOR OUTLOOK FOR
ALTERNATIVES |
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11.00 | Keynote address:
Achieving diversification through Alternatives
• Expanding your investment horizon with new alternatives
• Fund perspective and outlook on hedge funds and private equity
• How should institutional investors capitalise on the current arket environment
• Which strategies and asset classes are currently being looked
at?
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| | Mr Mark Delaney, Deputy Chief Executive and Chief Investment Officer, AustralianSuper, Australia
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11.40 | Institutional Investor Panel:
Future of Alternatives in the current market environment
• Key challenges facing institutional investors when analysing alternatives
• Finding asset classes that offer diversification from equities
• Ability to outperform equities over the long term without eing overly risky
• Looking ahead: under what circumstances will allocations to lternatives increase? |
| | Mr Mark Delaney, Deputy Chief Executive and Chief Investment Officer, AustralianSuper, Australia Mr. Tim Hughes, Chief Investment Officer, Catholic Superannuation Fund, Australia Mr David Cannings, General Manager, Investment Services, Anglican Church, Diocese of Sydney, Australia
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12.20 | Keynote address:
Where is the risk for institutional investors in the current environment?
• Using Alternatives as a diversification strategy against increased market volatility
• Protecting your portfolio from systematic risks and increased market volatility
• Case study: best practices in portfolio construction and risk management |
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12.45 | Networking lunch
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13.45 | Keynote address:
Longevity / Mortality
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The continued growth and potential of a new asset class
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The life settlement market
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Longevity / mortality investment landscape
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14.15 | Executive address:
Paradigm shift in attitudes of investors towards Alternatives
• Calculations of risk and current values of Alternative assets
• Where are the red flags in Alternative investments for trustees?
• Are super funds building portfolios for investors or fund managers?
• How should investors evaluate Alternatives?
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| | Mr John Livanas , Chief Executive Officer , Australian Meat Industry Superannuation Trust, Australia
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| INVESTING IN DISTRESSED DEBT |
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14.45 | International executive address
Forecasting the collapse of the US housing bubble –
factors leading up to the bubble bust
• Signs of the bubble bursting ...
• Investment strategies during the peak of the housing market
• Where is the next bubble, how can we short it?
• Opportunities in distressed debt investing
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| | Mr James Wong, Managing Director, Head of Investor Relations, Paulson & Co
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15.15 | Afternoon tea and coffee
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| GLOBAL INFRASTRUCTURE INVESTMENT – LESSONS LEARNT
AND FUTURE MODELS |
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15.50 | Executive Case Study
Strategies towards achieving direct investments in
international infrastructure assets
• Investing in international infrastructure – why and how?
• Description of investment models – “one size does not fit all”
• Project case study: insights on transacting in a dynamic credit
market and lessons learnt
• Superannuation funds and infrastructure – an evolving model
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| | Mr Michael Hanna, Investment Director, Infrastructure, Industry Funds Management, Australia
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| FUTURE OF ALTERNATIVE INVESTMENTS AND NEW
CHALLENGES |
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16.20 | Interactive round table discussions
1: The future of funds management: Is investing an art, science or skill?
Jon Addison, Chief Investment Officer, Meat Industry Employees’ Superannuation Fund
2: Can institutional investors bypass fund managers when investing in infrastructure projects?
Glenn Langton, Principal, GCL Consulting
3: Is the alpha obtained from opportunistic property worth the risks?
Ken Atchison, Managing Director, Atchison Consulting
4: Should systematic ESG risk assessment be made compulsory when analysing new investments?
Nathan Fabian, Head of ESG Research, Regnan Governance Advisory Service
5: Analysing opportunities in green investments
Mark Bytheway, Chief Executive Officer, SIRIS
6: Longevity / mortality style investment strategies
Brendan O’Flynn, Director, Life Finance Group, Credit Suisse, USA
7: A new asset class - how institutional investors can access residential property
Peter Martin, Chief Executive Officer, Greenway Capital
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17.00 | Closing remarks by chair
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17.10 | Networking cocktails
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Day Two, Tuesday 5 August 2008
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08.15 | Welcome tea and coffee
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09.00 | Opening remarks by chair
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| OUTLOOK ON GLOBAL MARKETVOLATILITY ANDTHE CREDIT
CRUNCH |
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09.10 | Keynote address:
The impact of credit tightening on Alternative investment strategies
• Key Alternative assets impacted by credit tightening
• Using Alternatives as a key diversification strategy against share market volatility
• Recent performance of listed and unlisted Alternative assets
• Level of gearing, debt profiles and level of hedging
• Where is the risk for superannuation funds when investing in Alternatives over the next 12 months?
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| INFLATION-SENSITIVE INVESTMENTS |
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09.50 | Keynote address:
Opportunities for infrastructure as an inflation-sensitive investment
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Diversification and hedge against inflation over the long term
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Attractiveness of potential returns and stable long term cash flow in infrastructure investments
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Dynamics of investing directly versus other access strategies
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Challenges of investing directly in infrastructure: capital structures, funding, sourcing JV partners
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Opportunities for superannuation funds in proposed PPP – evaluation process of opportunities
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| | Mr David Brown, Joint head of private markets, Victorian Funds Management Corporation, Australia
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10.30 | Morning tea and coffee
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11.00 | Keynote panel discussion:
On the defence: what are leading investors identifying as preferred inflation-sensitive investments?
• Reality of inflation on fund assets
• Using infrastructure as a form of diversification in the current
market climate
• New assets that provide stable and positive returns
• Listed versus unlisted assets
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| | Mr David Brown, Joint head of private markets, Victorian Funds Management Corporation, Australia
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| INNOVATIONS, IDEAS AND INTEGRATION OF ALTERNATIVES INTO
YOUR PORTFOLIO |
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11.40 | Executive presentation:
Decision making process behind integrating an alternative
investment strategy for a super fund
• How are managers selected?
• Merits of the investment strategy
• How to integrate within the investor’s portfolio
• Evaluating the manager – what are the performance
benchmarks?
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| | Mr David Lee, Principal, Mercer Investment Consulting, Australia
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12.10 | Speed networking
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12.40 | Networking lunch
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14.00 | Executive panel discussion:
Understanding how institutional investors integrate and
identify new investment vehicles
• Positioning your fund to take advantage of new investment
strategies
• Understanding and evaluating your portfolio
• Best practices in risk calculations
• How to evaluate suitability of new investment vehicles
• What are the more complex structures seen in recent months |
| | Moderator: Mr David Lee, Principal, Mercer Investment Consulting, Australia Mr Andrew Frankling, Deputy Chief Investment Officer, Anglican Church, Diocese of Sydney, Australia Mr John Livanas , Chief Executive Officer , Australian Meat Industry Superannuation Trust, Australia
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| PRIVATE EQUITY: EVALUATING PERFORMANCE RETURNS,
CHALLENGES AND OPPORTUNITIES |
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14.40 | Executive presentation:
How should investment managers address ESG issues?
- What is the relevance of ESG for Australia’s superannuation funds
- Impact of ESG issues on investment managers
- Risks of ignoring ESG issues
- Green funds and ESG
- Issues to consider when investing in green funds
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15.10 | Afternoon tea and coffee
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| HEDGE FUNDS: EVALUATING PERFORMANCE RETURNS,
CHALLENGES AND OPPORTUNITIES |
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15.40 | Executive presentation:
What is the impact of the sub-prime meltdown on private equity investment opportunities?
- Investor sentiments on private equity investment return projection for 2008/2009
- Will private equity investments outperform public market returns?
- Understanding the J-Curve Effect on private equity investments
- Selection process for private equity investments
- Factors for outperformance or non-performance
- Capital raising and deal flows outlook for the next 12 months
- Which industries and sectors present the best opportunities for dstressed investments?
- What are the best access strategies for superannuation fund investors to access private equity?
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16.10 | Closing remarks by chair
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16.20 | Close of conference
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Post Conference Masterclasses - Wednesday 6 August 2008
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| Post-conference masterclass |
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13.30 | PROFITING FROM MANAGEMENT OF OPERATIONAL RISK AND DUE DILLIGENCE
According to a 2007 Mercer report on operational risk, while a primary goal of many funds is to capture surplus returns (alpha), the reality is that operational inefficiencies and poor investment administration can erode alpha. In 2008, there will be a renewed focus on managing operational risks.
- Top factors for institutional investors to consider before embarking on new investments
- How are leading superannuation funds managing the key issues of operational due diligence
- Capitalising on good governance to deliver strong returns
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| | Mr David Lee, Principal, Mercer Investment Consulting, Australia Mr Ryan Bisch, Senior Associate, Mercer Investment Consulting, Australia
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17.00 | Close of masterclass B
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