20th National Pension & Institutions Investor Summit
Tuesday, November 11, 2014
8:00 AM - 8:45 AM Registration and Networking Breakfast Buffet
8:45 AM - 9:00 AM Pledge, Invocation, Welcome, and Introductions
Irving Fire Department Color Guard
Irving Fire Department Pipe and Drums
9:00 AM - 9:45 AM Presentation: The Road Ahead: An Equity Investor’s Take on Rates
Speaker: Jim Lydotes, Portfolio Manager, The Boston Company Asset Management, LLC
The "smart money" has been betting that rates are going higher in a hurry. However, Portfolio Manager Jim Lydotes argues that the market has grossly misjudged the rate at which this will happen. Jim pokes holes in some of the most popular bullish economic indicators, points out real obstacles to Fed rate hikes, and pinpoints when a rise in rates could finally play out.
9:45 AM - 10:25 AM Pannel Discussion: Real Assets - will they hedge inflation?
Generally real assets have low correlations to traditional stocks and bonds, which could provide lower overall portfolio risk while enhancing the potential for better long-term risk-adjusted returns. But, can they also prevent the eroding effect inflation can have on the value of assets? How can Real Assets help?
10:25 AM - 10:40 AM Networking Break
10:40 AM - 11:20 AM Panel Discussion: CIO outsourcing trend - governance issues?
Outsourced Chief Investment Officer (OCIO) is a large and growing market segment. A survey of outsourcers by aiCIO magazine showed the volume of outsourced assets increased 200% between 2007 and 2011. OCIOs can create economies of scale and take on some fiduciary responsibility, but the client takes on new governance issues.
11:20 AM - 12:20 PM Panel Discussion: Fixed Income - strategies to mitigate impact of rising rates?
This issue is critical and timely. With rates trending downward since the 1980s, the potential rising interest rate environment represents a significant shift for investors, one most have never experienced. While the prevailing wisdom may be to move out of bonds, there are other important strategies to consider.
12:20 PM - 1:50 PM Presentation: Growth and Asset Returns in a Time of Tightening
Speaker: Derek Sasveld, Senior VP Head of Asset Allocation, Voya Investment Management
Six years since the Fed lowered rates to virtually zero, the U.S. economy is still recovering slowly albeit at a steady clip. While Europe may be heading for a slowdown, emerging markets continue to struggle to create sustainable growth. Against this backdrop and inevitable prospect of rising rates, Derek Sasveld, Senior Vice President and Head of Asset Allocation, will discuss the prospect for economic growth and asset returns in 2015 as the Federal Reserve winds down their unprecedented stimulus measures.
1:50 PM - 2:35 PM Panel Discussion: Smart Beta - a new name or a new idea?
Smart beta products are billed as an alternative to the traditional "active" and "passive" investment strategies. The concept has actually been around for a while and the main appeal is a chance to get above-average returns without paying excessive fees or taking on too much risk. Can it work over time?
2:35 PM - 3:30 PM Panel Discussions: Breakout Sessions
Breakout Sessions will address issues that are specific to each investor group. This smaller setting is ideal for discussing the issues that are common for all in the group and many are dealing with. A small sampling of these groups and issues are as follows:
1. Public Plans: GASB, fiduciary training, and other regulatory issues
2. Corporate Plans: ERISA and other regulatory issues
3. Foundation/Endowments/Family Offices: payout strategies, fund comparisons, co-investment, etc.
3:30 PM - 3:45 PM Networking Break
3:45 PM - 4:45 PM Low Volatility strategies - do they work?
Low volatility strategies, that can potentially access risk-diversifying sources of excess return, have garnered strong investor interest. However, portfolio construction methods should be sensitive to investibility and valuations. Why does it work? Where does it fit into portfolios?
4:45 PM - 5:00 PM Concluding Remarks
5:00 PM - 6:00 PM Closing Networking Reception