Overview – Sunday – April 5

10:45am – 12:00pm

WALKING TOUR OF OXFORD UNIVERSITY

12:00pm – 12:20pm

LIGHT LUNCH AND REGISTRATION

12:20pm – 12:30pm

WELCOME

12:30pm – 1:15pm

INTEGRATING FINANCIAL AND IMPACT GOALS INTO SAA

Investors are increasingly seeking to design strategic portfolios that both achieve financial goals (return & risk) and have environmental, social, and governance impact. Karen Karniol-Tambour will discuss how to engineer an asset allocation that delivers consistent performance and that furthers the UN SDGs at institutional scale.

Karen Karniol-Tambour

Head of research, Bridgewater

1:15pm – 2:00pm

SUSTAINABILITY LEADERSHIP

This session will hear from leaders in sustainability investing and the journey they have taken over the past 30 years. How have they invested in people and research and what are the most important aspects of leadership and culture? Where is sustainability heading and what can these leaders teach about the path forward?

Eloy Lindeijer

Head of investment management, PGGM

Gilbert van Hassel

Chief executive, Robeco

2:00pm – 2:45pm

POLICY UPDATE: EU TAXONOMIES, COP26 AND THE JOURNEY TO CARBON NEUTRALITY BY 2050

This session will highlight the success of the European Union in developing taxonomies, a common language and new rules for financial markets, for environmentally sustainable investments and hear from investors who are using the taxonomies to deliver climate alignment in portfolios. Extrapolating on this it will examine the steps needed for the success of carbon neutrality by 2050.

Nathan Fabian

Chief responsible investment officer, PRI; rapporteur, EU taxonomy, EU technical expert group on sustainable finance

Craig Mackenzie

Head of strategic asset allocation, Aberdeen Standard Investments

Martin Spolc

Head of the capital markets union unit, European Commission

2:45pm – 3:15pm

AFTERNOON TEA

3:15pm – 4:00pm

DEFINING AN ENVIRONMENTAL INVESTMENT UNIVERSE WITHIN PLANETARY BOUNDARIES

Created by a research group at the Stockholm Resilience Centre, the Planetary Boundaries framework is a model that defines the ecological “safe operating space” within which human activities should take place for humanity to continue to develop and thrive for generations to come. The panel will explore what this concept entails and how institutional investors can use it to generate returns whilst contributing to the protection of the planet over the long term.

Sarah Cornell

Global change researcher, Docent in Sustainability Science, Stockholm Resilience Centre

Steve Freedman

Senior product specialist, thematic strategies, Pictet Asset Management

4:00pm – 4:45pm

RUNAWAY SOLUTIONS FOR CLIMATE CHANGE

Research at Oxford University, built on decades of complex systems science, is exploring sensitive intervention points in climate change and how modest changes in the socio economic and political system can deliver massive, fast impact. It looks at case studies across technology, mass mobilisation and finance where small interventions might have a big impact.

Cameron Hepburn

Professor of Environmental Economics, Smith School of Enterprise and the Environment; Director of the Economics of Sustainability Programme, Institute for New Economic Thinking, Oxford Martin School; fellow at New College, Oxford; managing editor, Oxford Review of Economic Policy, Oxford University

4:45pm – 5:30pm

WHAT ESG MEANS IN DEVELOPING COUNTRIES

TBC

Marshall Stocker

head of country research, emerging markets debt, Eaton Vance

6:00pm – 9:00pm

WELCOME FUNCTION

Day 2 – Monday – April 6

8:00am – 8:15am

REGISTRATION

8:15am – 8:20am

WELCOME

8:20am – 9:00am

GLOBAL RISK OUTLOOK

The extreme uncertainty of the global economy requires a new risk management framework.

Lakshmi Shyam-Sunder

Chief risk officer, World Bank Group

9:00am – 10:00am

SYSTEMIC GEOPOLITICAL RISKS

Geopolitical risk is hard to price, and even harder to predict, but it has the potential to affect portfolios in a profound way. This session examines the crisis points, which include Taiwan and its potential to undermine the entire China/US relationship.

Stephen Kotkin

John P Birkelund ’52 Professor in History and International Affairs, Princeton University; senior fellow, Hoover Institution, Stanford University

10:00am – 10:30am

MORNING TEA

10:30am – 11:15am

CHINA AND AI

Deciphering China’s AI dream: the context, components, capabilities and consequences of China’s strategy to lead the world in AI.

Jeffrey Ding

China lead, Center for the Governance of AI, Future of Humanity Institute, Oxford University

11:15am – 12:00pm

INVESTING IN CHINA IN AN AGE OF UNCERTAINTY

TBC

Chair

Bill Maldonado

Chief investment officer, Asia Pacific; global chief investment officer, equities, HSBC Global Asset Management

12:00pm – 1:00pm

LUNCH

1:00pm – 1:45pm

THE ECONOMIC CONSEQUENCES OF BREXIT: A TAXING DECISION

Whether Brexit is judged to be success or not will depend to some degree on its economic impact. The OECD has warned that the a no-deal departure would significantly damage the economy and leave the US more exposed to a global downturn. This session will explore the potential economic impacts to the UK, to the broader European market and OECD countries.

Alvaro Pereira

Director, economics department, OECD

1:45pm – 2:45pm

POSITIONING PORTFOLIOS IN TIMES OF UNCERTAINTY

The investment environment continues to be uncertain with the deleveraging of debt, populism, the balance between monetary and fiscal policies and the changing nature of the relationship between the US and China. This session will take an in-depth look at how to position portfolios given these challenges and guide investors through possible scenarios for risk management and alpha generation.

Bige Kahraman

Associate Professor of Finance Said Business School, University of Oxford; Fellow, Kellogg College

Simon Pilcher

Chief executive of USS Investment Management; CIO, USS

Gene Podkaminer

Head of research strategies, multi-asset solutions, Franklin Templeton

2:45pm – 3:15pm

AFTERNOON TEA

3:15pm – 4:00pm

GEOPOLITICS FIRESIDE CHAT

David Young founded Oxford Analytica in 1975, and it has grown to be a pre-eminent geopolitical analysis and consulting firms with long-term clients including the World Bank and the European Parliament and numerous private sector organisations. Young worked for the Nixon administration as special assistant at the National Security Council and was an administrative assistant for Henry Kissinger. He has been a lecturer in politics at Oxford (Queens College) since 1974 and has been analysing and assessing risk for nearly 50 years. This fireside chat will garner Young’s views on the risks in the global economy.

David Young

Founder Oxford Analytica

4:00pm – 6:00pm

WORKSHOP: SCENARIO PLANNING

In this interactive session, Oxford Analytica will illustrate how to build scenarios and alternative futures using a range of analytical tools and methodologies. Scenarios are not intended to replace the consideration of major driving trends but are instead designed to consider how major trends and systems might combine to produce different outcomes in the future. The process of deriving scenarios enables us to think about what could happen, rather than we expect to happen -- and whether long-term plans are sufficiently resilient to be successful if an alternative scenario emerges.

The workshop will commence with Oxford Analytica’s team discussing scenario planning techniques and reflecting on cognitive biases. They will illustrate which factors are fixed, which are uncertain, who they affect and how they might interact to produce a plausible scenario. This will be followed by an interactive session with the audience to build alternative futures by further exploring:

  • construction of causally coherent and internally consistent descriptions of future outcomes using qualitative methods;
  • identifying cognitive biases and how to overcome them;
  • discussing patterns that could grow into major disruptions and how those may affect the future.
Chair

Colin Tate

Chief executive, Conexus Financial (Australia)

7:00pm – 9:30pm

OFFICIAL CONFERENCE DINNER

Day 3 – Tuesday – April 7

7:30am – 9:00am

SPONSOR-ONLY BREAKFAST

7:30am – 9:00am

INVESTOR-ONLY BREAKFAST

9:30am – 10:15am

CORPORATE RESPONSIBILITY AND RESPONSIBLE OWNERSHIP

This session will look at the transformation underway in corporate responsibility and responsible ownership, opening up a discussion for the much-needed paradigm shift in corporate behaviour, where the shareholder is not the only consideration, and trust between business and society can be rebuilt.

Peter Tufano

Dean, Said Business School, University of Oxford

10:15am – 11:15am

PURPOSEFUL COMPANIES – ESG AND COMPANY PERFORMANCE SHORT AND LONG TERM

What is the paradigm shift needed to redefine business for the 21st century and build trust between business and society?

Janine Guillot

Chief executive, SASB

Deborah Kiers

Chair, board responsible investment and sustainability committee, IFM Investors

Molly Morgan Jones

Director of policy, British Academy

Fiona Reynolds

Chief executive, PRI

11:15am – 12:00pm

CULTURE IN THE 2020S

The last decade has seen a shift in corporate culture to include remote and flexible work options and social activism, among other trends. What will shakeup work in the next decade (pay transparency or gender quotas?) and how should organisations be positioning themselves for the future?

Chris Hulatt

Founder, Octopus

12:00pm – 1:00pm

LUNCH

1:00pm – 1:40pm

MACHINE LEARNING AND DATA IN FINANCE

AI will be be disruptive to industries, companies and jobs, but how can we reframe this to be a positive outcome and think about new and creative jobs as a result of robots taking on the “boring” jobs.

Martin Schmalz

Associate Professor of Finance, Saïd Business School, University of Oxford

1:40pm – 2:10pm

INNOVATIVE RESPONSES TO CONTRIBUTING TO SDGS – USING AI

A new AI-driven SDG platform  rates up to 10,000 companies on the extent to which their core business activity helps create, for example, sustainable cities (SDG 11) or generate clean energy (SDG 7) in a novel approach that brings a new level to standardisation and efficiency to SDG portfolio management in fixed income and equity. The AI-driven technology sifts through reams of structured and unstructured data to gauge the extent to which companies’ products and activities meet the UN’s Sustainable Development Goals (SDGs).

Claudia Kruse

Managing director global responsible investment & governance, APG

2:10pm – 2:45pm

DATA CASE STUDY

In 2013 the Wisconsin State Investment Board discovered its backoffice was not keeping up with the investment group’s investments which included hedge funds, unconstrained portfolios and leverage. This began a technology and data journey which will culminate in the fund spinning out a multi-asset portfolio to a hedge fund platform in June 2020. Once it is built 90 per cent of the $100 billion portfolio will move into that infrastructure. This session will look at the costs and opportunities of changing legacy technology systems, what happens when investments are moved out of the custody system (you need a lot of fintech) and what internal resources are required to manage such a transformation.

David Villa

CIO, Wisconsin State Investment Board

2:45pm – 3:30pm

VIRTUAL WEAPON: CYBER SECURITY AND INTERNATIONAL ORDER

The cyber revolution is the revolution of modern times, and the rapid expansion of cyberspace in society brings both promise and peril. What does this mean for cyber incidents and why should investors be paying attention?

Lucas Kello

Associate Professor of International Relations; director, Centre for Technology and Global Affairs, Oxford University

3:30pm

CONFERENCE CLOSE

Day 1 – Sunday – April 5

10:45am – 12:00pm

WALKING TOUR OF OXFORD UNIVERSITY

12:00pm – 12:20pm

LIGHT LUNCH AND REGISTRATION

12:20pm – 12:30pm

WELCOME

12:30pm – 1:15pm

INTEGRATING FINANCIAL AND IMPACT GOALS INTO SAA

Investors are increasingly seeking to design strategic portfolios that both achieve financial goals (return & risk) and have environmental, social, and governance impact. Karen Karniol-Tambour will discuss how to engineer an asset allocation that delivers consistent performance and that furthers the UN SDGs at institutional scale.

Karen Karniol-Tambour

Head of research, Bridgewater

1:15pm – 2:00pm

SUSTAINABILITY LEADERSHIP

This session will hear from leaders in sustainability investing and the journey they have taken over the past 30 years. How have they invested in people and research and what are the most important aspects of leadership and culture? Where is sustainability heading and what can these leaders teach about the path forward?

Eloy Lindeijer

Head of investment management, PGGM

Gilbert van Hassel

Chief executive, Robeco

2:00pm – 2:45pm

POLICY UPDATE: EU TAXONOMIES, COP26 AND THE JOURNEY TO CARBON NEUTRALITY BY 2050

This session will highlight the success of the European Union in developing taxonomies, a common language and new rules for financial markets, for environmentally sustainable investments and hear from investors who are using the taxonomies to deliver climate alignment in portfolios. Extrapolating on this it will examine the steps needed for the success of carbon neutrality by 2050.

Nathan Fabian

Chief responsible investment officer, PRI; rapporteur, EU taxonomy, EU technical expert group on sustainable finance

Craig Mackenzie

Head of strategic asset allocation, Aberdeen Standard Investments

Martin Spolc

Head of the capital markets union unit, European Commission

2:45pm – 3:15pm

AFTERNOON TEA

3:15pm – 4:00pm

DEFINING AN ENVIRONMENTAL INVESTMENT UNIVERSE WITHIN PLANETARY BOUNDARIES

Created by a research group at the Stockholm Resilience Centre, the Planetary Boundaries framework is a model that defines the ecological “safe operating space” within which human activities should take place for humanity to continue to develop and thrive for generations to come. The panel will explore what this concept entails and how institutional investors can use it to generate returns whilst contributing to the protection of the planet over the long term.

Sarah Cornell

Global change researcher, Docent in Sustainability Science, Stockholm Resilience Centre

Steve Freedman

Senior product specialist, thematic strategies, Pictet Asset Management

4:00pm – 4:45pm

RUNAWAY SOLUTIONS FOR CLIMATE CHANGE

Research at Oxford University, built on decades of complex systems science, is exploring sensitive intervention points in climate change and how modest changes in the socio economic and political system can deliver massive, fast impact. It looks at case studies across technology, mass mobilisation and finance where small interventions might have a big impact.

Cameron Hepburn

Professor of Environmental Economics, Smith School of Enterprise and the Environment; Director of the Economics of Sustainability Programme, Institute for New Economic Thinking, Oxford Martin School; fellow at New College, Oxford; managing editor, Oxford Review of Economic Policy, Oxford University

4:45pm – 5:30pm

WHAT ESG MEANS IN DEVELOPING COUNTRIES

TBC

Marshall Stocker

head of country research, emerging markets debt, Eaton Vance

6:00pm – 9:00pm

WELCOME FUNCTION

Day 2 – Monday – April 6

8:00am – 8:15am

REGISTRATION

8:15am – 8:20am

WELCOME

8:20am – 9:00am

GLOBAL RISK OUTLOOK

The extreme uncertainty of the global economy requires a new risk management framework.

Lakshmi Shyam-Sunder

Chief risk officer, World Bank Group

9:00am – 10:00am

SYSTEMIC GEOPOLITICAL RISKS

Geopolitical risk is hard to price, and even harder to predict, but it has the potential to affect portfolios in a profound way. This session examines the crisis points, which include Taiwan and its potential to undermine the entire China/US relationship.

Stephen Kotkin

John P Birkelund ’52 Professor in History and International Affairs, Princeton University; senior fellow, Hoover Institution, Stanford University

10:00am – 10:30am

MORNING TEA

10:30am – 11:15am

CHINA AND AI

Deciphering China’s AI dream: the context, components, capabilities and consequences of China’s strategy to lead the world in AI.

Jeffrey Ding

China lead, Center for the Governance of AI, Future of Humanity Institute, Oxford University

11:15am – 12:00pm

INVESTING IN CHINA IN AN AGE OF UNCERTAINTY

TBC

Chair

Bill Maldonado

Chief investment officer, Asia Pacific; global chief investment officer, equities, HSBC Global Asset Management

12:00pm – 1:00pm

LUNCH

1:00pm – 1:45pm

THE ECONOMIC CONSEQUENCES OF BREXIT: A TAXING DECISION

Whether Brexit is judged to be success or not will depend to some degree on its economic impact. The OECD has warned that the a no-deal departure would significantly damage the economy and leave the US more exposed to a global downturn. This session will explore the potential economic impacts to the UK, to the broader European market and OECD countries.

Alvaro Pereira

Director, economics department, OECD

1:45pm – 2:45pm

POSITIONING PORTFOLIOS IN TIMES OF UNCERTAINTY

The investment environment continues to be uncertain with the deleveraging of debt, populism, the balance between monetary and fiscal policies and the changing nature of the relationship between the US and China. This session will take an in-depth look at how to position portfolios given these challenges and guide investors through possible scenarios for risk management and alpha generation.

Bige Kahraman

Associate Professor of Finance Said Business School, University of Oxford; Fellow, Kellogg College

Simon Pilcher

Chief executive of USS Investment Management; CIO, USS

Gene Podkaminer

Head of research strategies, multi-asset solutions, Franklin Templeton

2:45pm – 3:15pm

AFTERNOON TEA

3:15pm – 4:00pm

GEOPOLITICS FIRESIDE CHAT

David Young founded Oxford Analytica in 1975, and it has grown to be a pre-eminent geopolitical analysis and consulting firms with long-term clients including the World Bank and the European Parliament and numerous private sector organisations. Young worked for the Nixon administration as special assistant at the National Security Council and was an administrative assistant for Henry Kissinger. He has been a lecturer in politics at Oxford (Queens College) since 1974 and has been analysing and assessing risk for nearly 50 years. This fireside chat will garner Young’s views on the risks in the global economy.

David Young

Founder Oxford Analytica

4:00pm – 6:00pm

WORKSHOP: SCENARIO PLANNING

In this interactive session, Oxford Analytica will illustrate how to build scenarios and alternative futures using a range of analytical tools and methodologies. Scenarios are not intended to replace the consideration of major driving trends but are instead designed to consider how major trends and systems might combine to produce different outcomes in the future. The process of deriving scenarios enables us to think about what could happen, rather than we expect to happen -- and whether long-term plans are sufficiently resilient to be successful if an alternative scenario emerges.

The workshop will commence with Oxford Analytica’s team discussing scenario planning techniques and reflecting on cognitive biases. They will illustrate which factors are fixed, which are uncertain, who they affect and how they might interact to produce a plausible scenario. This will be followed by an interactive session with the audience to build alternative futures by further exploring:

  • construction of causally coherent and internally consistent descriptions of future outcomes using qualitative methods;
  • identifying cognitive biases and how to overcome them;
  • discussing patterns that could grow into major disruptions and how those may affect the future.
Chair

Colin Tate

Chief executive, Conexus Financial (Australia)

7:00pm – 9:30pm

OFFICIAL CONFERENCE DINNER

Day 3 – Tuesday – April 7

7:30am – 9:00am

SPONSOR-ONLY BREAKFAST

7:30am – 9:00am

INVESTOR-ONLY BREAKFAST

9:30am – 10:15am

CORPORATE RESPONSIBILITY AND RESPONSIBLE OWNERSHIP

This session will look at the transformation underway in corporate responsibility and responsible ownership, opening up a discussion for the much-needed paradigm shift in corporate behaviour, where the shareholder is not the only consideration, and trust between business and society can be rebuilt.

Peter Tufano

Dean, Said Business School, University of Oxford

10:15am – 11:15am

PURPOSEFUL COMPANIES – ESG AND COMPANY PERFORMANCE SHORT AND LONG TERM

What is the paradigm shift needed to redefine business for the 21st century and build trust between business and society?

Janine Guillot

Chief executive, SASB

Deborah Kiers

Chair, board responsible investment and sustainability committee, IFM Investors

Molly Morgan Jones

Director of policy, British Academy

Fiona Reynolds

Chief executive, PRI

11:15am – 12:00pm

CULTURE IN THE 2020S

The last decade has seen a shift in corporate culture to include remote and flexible work options and social activism, among other trends. What will shakeup work in the next decade (pay transparency or gender quotas?) and how should organisations be positioning themselves for the future?

Chris Hulatt

Founder, Octopus

12:00pm – 1:00pm

LUNCH

1:00pm – 1:40pm

MACHINE LEARNING AND DATA IN FINANCE

AI will be be disruptive to industries, companies and jobs, but how can we reframe this to be a positive outcome and think about new and creative jobs as a result of robots taking on the “boring” jobs.

Martin Schmalz

Associate Professor of Finance, Saïd Business School, University of Oxford

1:40pm – 2:10pm

INNOVATIVE RESPONSES TO CONTRIBUTING TO SDGS – USING AI

A new AI-driven SDG platform  rates up to 10,000 companies on the extent to which their core business activity helps create, for example, sustainable cities (SDG 11) or generate clean energy (SDG 7) in a novel approach that brings a new level to standardisation and efficiency to SDG portfolio management in fixed income and equity. The AI-driven technology sifts through reams of structured and unstructured data to gauge the extent to which companies’ products and activities meet the UN’s Sustainable Development Goals (SDGs).

Claudia Kruse

Managing director global responsible investment & governance, APG

2:10pm – 2:45pm

DATA CASE STUDY

In 2013 the Wisconsin State Investment Board discovered its backoffice was not keeping up with the investment group’s investments which included hedge funds, unconstrained portfolios and leverage. This began a technology and data journey which will culminate in the fund spinning out a multi-asset portfolio to a hedge fund platform in June 2020. Once it is built 90 per cent of the $100 billion portfolio will move into that infrastructure. This session will look at the costs and opportunities of changing legacy technology systems, what happens when investments are moved out of the custody system (you need a lot of fintech) and what internal resources are required to manage such a transformation.

David Villa

CIO, Wisconsin State Investment Board

2:45pm – 3:30pm

VIRTUAL WEAPON: CYBER SECURITY AND INTERNATIONAL ORDER

The cyber revolution is the revolution of modern times, and the rapid expansion of cyberspace in society brings both promise and peril. What does this mean for cyber incidents and why should investors be paying attention?

Lucas Kello

Associate Professor of International Relations; director, Centre for Technology and Global Affairs, Oxford University

3:30pm

CONFERENCE CLOSE