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Overview – Tuesday – May 25

1:00pm – 4:40pm

Inflation, interest rates and debt: the outlook, the impact and portfolio implications

1:00pm – 1:25pm

Inflation: The question on everyone’s lips

This session will take an indepth look at an issue being discussed around every investment table… inflation.
It will look at whether inflation risk exists and how different asset classes behave in inflation regimes. It will ask whether inflation is entirely negative for portfolios and under which scenarios inflation is desirable and controllable. It will ask whether there is a new relationship between growth and inflation, or whether historic patterns will prevail and, if so, which ones.

Speakers
Patrick Zweifel, chief economist, Pictet Asset Management (Switzerland)
Chair: Amanda White, director of institutional content, Conexus Financial (Australia)

Investor response
Millan Mulraine, chief economist, Ontario Teachers Pension Plan (Canada)
Kylie Willment, chief investment officer, Mercer Asia Pacific (Australia)

1:25pm – 2:10pm

Inflation and interest rate expectations: Intensifying risk or a temporary spike?

Will the COVID-19 crisis mean we will be trapped in the lower for longer regime or are we on the road to a rate change? This session will examine the proposition that we are in a “lower for longer” environment, explore whether a reflationary environment will prevail, and determine if growth is around the corner. The session will also highlight what these potential scenarios might mean for investors and identify opportunities from an investment perspective.

Speakers
Robert Tipp, chief investment strategist and head of global bonds, PGIM Fixed Income (United States)
Sushil Wadhwani, chief investment officer, QMAW (United Kingdom)
Chair: Amanda White, director of institutional content, Conexus Financial (Australia)

Investor response
Geoff Rubin, chief investment strategist, CPP Investments (Canada)
Mark Fawcett, chief investment officer, NEST (United Kingdom)

2:10pm – 2:40pm

Investing in new infrastructure

Fiscal policy, vaccines and green initiatives are creating waves of change in infrastructure. What exactly is infrastructure now, and most importantly what is not infrastructure? This session will examine how the digitalization of economies and the shift to renewable energy offer potential long-term growth opportunities in infrastructure; and how it can play a role in long-term investor portfolios.

Speakers
Ben Hawkins, senior vice president, infrastructure, Alberta Investment Management Corporation (Canada)
Ben Morton, head of global infrastructure, Cohen & Steers (United States)
Dominic Swan, Global CIO private debt, HSBC Asset Management (United Kingdom)
Chair: Colin Tate, chief executive, Conexus Financial (Australia)

Investor response
Meghna Desai, director of investments, New York Presbyterian Hospital (United States)

2:40pm – 3:15pm

Global debt – the impact over the long term

How will the growing debt burden, and borrowing from the future, impact markets, the economy and asset class returns?

Speakers
Rich Randall, global head of debt, IFM Investors (United States)
Chair: Colin Tate, chief executive, Conexus Financial (Australia)

Investor response 
Farouki Majeed, chief investment officer, Ohio School Employees Retirement System (United States)

3:15pm – 3:40pm

Distressed debt: What now after the recovery?

Given the recovery in markets, what does that mean for the opportunity in distressed? What are the regional differences and where are the opportunities?

Speakers
Victor Khosla, founder and chief executive, SVP Global (United States)
Chair: Amanda White, director of institutional content, Conexus Financial (Australia)

Investor response
Kristian Fok, chief investment officer, Cbus Super Fund (Australia)

3:40pm – 4:10pm

Portfolio construction: The growing influence of government spending on cashflows and currency in the new paradigm

This session will look at the biggest risks that asset owners are facing in this environment over the next 2-3 years as a result of the major shifts to near-zero interest rates, coordinated monetary and fiscal policy (MP3), and heightened internal and external conflict. It will look at how the move to MP3 has significant implications for how investors manage risk and construct portfolios going forward. In an MP3 world, direct government spending rather than mostly efficient markets will be a much larger influence on the investment assumptions we take for granted, the drivers of growth and inflation, the flow of liquidity and how it impacts the cash flows of each asset, the pricing of the assets, their discount rate and the currency they’re denominated in.

Speakers
Bob Prince, co-CIO, Bridgewater (United States)
Chair: Colin Tate, chief executive, Conexus Financial (Australia)

Investor response
Stephen Gilmore, chief investment officer, New Zealand Super Fund (New Zealand)
Tom Tull, chief investment officer, Employees Retirement System of Texas (United States)

4:10pm – 4:40pm

The financial system after Covid-19: Reinforcing the lower for longer regime or a catalyst for change?

This session will examine the structural trends in the financial sector that have been either amplified or altered by the COVID crisis. It will also examine whether post-COVID trends in the sector, such as the increased debt that has built up in the system, are likely to reinforce the lower for longer growth, inflation and interest rate regime or act as a catalyst for regime change. The speakers will highlight the most important waymarks for investors, including the intersection with post-crisis monetary and fiscal policy developments, offer thoughts on the likelihood of regime change and consider what that would mean for optimal capital allocation. The session will also discuss the extent to which the financial sector’s resilience will be affected by physical and transition climate risk.

Speakers
Professor Thorsten Beck, Professor of Banking and Finance, Cass Business School; Professor of Economics, Tilburg University; research fellow of the Centre for Economic Policy Research (United Kingdom)
Jeremy Lawson, chief economist, Aberdeen Standard Investments (United Kingdom)
Chair: Amanda White, director of institutional content, Conexus Financial (Australia)

Investor response
David Veal, chief investment officer, City of Austin Employees Retirement System (United States)
Stefan Dunatov, executive vice president strategy and risk, British Columbia Investment Management Corporation (Canada)

Day 2 – Wednesday – May 26

1:00pm – 2:35pm

China and emerging markets

1:00pm – 1:45pm

Is China’s growing influence a threat or opportunity?

China is a simultaneous threat and an opportunity for investors. This workshop will look at how to navigate a worsening geopolitical situation and what it means for economic growth. Is the current course a steady state, or are big shocks, for the better or for the worse, possible and even likely?

Speakers
Professor Stephen Kotkin, Professor in History and International Affairs, Princeton University (United States)
Chair: Colin Tate, chief executive, Conexus Financial (Australia)

Investor response 
Tony Broccardo, chief investment officer, Barclays Bank Pension Fund (United Kingdom)
Olivier Rousseau, executive director, FRR (France)
Geraldine Jimenez, director of investment strategy and risk, CalSTRS (United States)
Jay Willoughby, chief investment officer, TIFF (United States)

1:45pm – 2:10pm

What economic transparency means to sovereign investments

A lack of transparency and sound data remain huge challenges in many emerging markets. So how should investors assess the risk of investing in emerging markets given the inefficient access to information? How does ‘economic transparency’ affect asset prices? The panel will discuss the link between governance principles, asset prices, trust in government and investment volatility and what investors can do about it.

Speakers
Majdi Chammas, head of external asset management, AP1 (Sweden)
Marshall Stocker, director of country research, emerging markets, Eaton Vance Management (United States)
Chair: Amanda White, director of institutional content, Conexus Financial (Australia)

2:10pm – 2:35pm

Finding growth in emerging markets

Emerging markets are home to the world’s fastest-growing economies and their long-term equity returns have attracted investors. In the past several years, however, many investors may have been disappointed by lacklustre results from their emerging markets allocations. This session argues that investors should look to companies with strong secular growth to find alpha in emerging markets.

Speakers
Sara Moreno, managing director, emerging markets PM and healthcare specialist, Jennison (United States)
Mark Walker, chief investment officer, Coal Pension Trustees (United Kingdom)
Chair: Colin Tate, chief executive, Conexus Financial (Australia)

2:35pm – 5:00pm

The future

2:35pm – 3:05pm

Technological innovation – the (investment) world reimagined

The interruptions to work and the revolution of technological tools in 2020 have changed the way investors assess products, fund managers and stocks. What technological tools are investors using in a remote environment including more innovative ways to do due diligence? What behaviours and processes have changed because of COVID and lockdown?

Speakers
Rick di Mascio, chief executive, Inalytics (United Kingdom)
Dev Jadeja, head of investment due diligence, Local Pensions Partnership Investments Limited (United Kingdom)
Luba Nikulina, global head of research, Willis Towers Watson (United Kingdom)
Chair: Colin Tate, chief executive, Conexus Financial (Australia)

Investor response
Jason Morrow, deputy, chief investment officer, Utah Retirement Systems (United States)

3:05pm – 3:25pm

Investor case study: Using AI in investments

The C$23 billion Canadian fund, OPTrust is embracing the power of technology to improve investment outcomes. Wei Xie explains the fund’s focus on two subdomains of machine learning - reinforcement learning and uncertainty modelling - and how they can be used together.

Speakers
Wei Xie, co-head of multi-strategy investing team, OPTrust (Canada)
Chair: Amanda White, director of institutional content, Conexus Financial (Australia)

3:25pm – 3:55pm

INVESTING IN THE INNOVATION ECONOMY

This session will examine the venture capital landscape and how it has changed due to the pandemic. What is the future outlook for venture investing in the US and globally?

Speakers
Todd Cohen, director, investment office, New  York Presbyterian Hospital (United States)
Mitchell Hammer, investment associate, Princeton University Investment Company (PRINCO) (United States)
Magnus Grimeland, chief executive, Antler (Singapore)
Chair: Todd Ruppert, chair, INSEAD endowment (United States)

3:55pm – 4:15pm

In conversation with a venture capitalist

Todd Ruppert in conversation with serial entrepreneur and technology investor, Joe Lonsdale.

Speakers
Joe Lonsdale, founder and general partner, 8VC (United States)
Chair: Todd Ruppert, chair, INSEAD endowment (United States)

4:15pm – 5:00pm

A post-COVID economy

The big difference between the vaccine rollouts and the scale of the stimulus measures across the world could result in a K-shaped global economic recovery, with much of the developed world booming but poorer countries continuing to struggle. However the west, with its growing debt, is not out of the woods either. What does the global economy look like post-crisis?

Speakers
Joseph Stiglitz, University Professor, Columbia Business School (United States)
Chair: Amanda White, director of institutional content, Conexus Financial (Australia)

Investor response
Jean Michel, chief investment officer, IMCO (Canada)
Response
Sharan Burrow, general secretary, ITUC (Belgium)
Fiona Reynolds, chief executive, PRI (United Kingdom)
Jaap van Dam, head of strategy, PGGM (Netherlands)

Add to Calendar

Day 1 – Tuesday – May 25

1:00pm – 4:40pm

Inflation, interest rates and debt: the outlook, the impact and portfolio implications

1:00pm – 1:25pm

Inflation: The question on everyone’s lips

This session will take an indepth look at an issue being discussed around every investment table… inflation.
It will look at whether inflation risk exists and how different asset classes behave in inflation regimes. It will ask whether inflation is entirely negative for portfolios and under which scenarios inflation is desirable and controllable. It will ask whether there is a new relationship between growth and inflation, or whether historic patterns will prevail and, if so, which ones.

Speakers
Patrick Zweifel, chief economist, Pictet Asset Management (Switzerland)
Chair: Amanda White, director of institutional content, Conexus Financial (Australia)

Investor response
Millan Mulraine, chief economist, Ontario Teachers Pension Plan (Canada)
Kylie Willment, chief investment officer, Mercer Asia Pacific (Australia)

1:25pm – 2:10pm

Inflation and interest rate expectations: Intensifying risk or a temporary spike?

Will the COVID-19 crisis mean we will be trapped in the lower for longer regime or are we on the road to a rate change? This session will examine the proposition that we are in a “lower for longer” environment, explore whether a reflationary environment will prevail, and determine if growth is around the corner. The session will also highlight what these potential scenarios might mean for investors and identify opportunities from an investment perspective.

Speakers
Robert Tipp, chief investment strategist and head of global bonds, PGIM Fixed Income (United States)
Sushil Wadhwani, chief investment officer, QMAW (United Kingdom)
Chair: Amanda White, director of institutional content, Conexus Financial (Australia)

Investor response
Geoff Rubin, chief investment strategist, CPP Investments (Canada)
Mark Fawcett, chief investment officer, NEST (United Kingdom)

2:10pm – 2:40pm

Investing in new infrastructure

Fiscal policy, vaccines and green initiatives are creating waves of change in infrastructure. What exactly is infrastructure now, and most importantly what is not infrastructure? This session will examine how the digitalization of economies and the shift to renewable energy offer potential long-term growth opportunities in infrastructure; and how it can play a role in long-term investor portfolios.

Speakers
Ben Hawkins, senior vice president, infrastructure, Alberta Investment Management Corporation (Canada)
Ben Morton, head of global infrastructure, Cohen & Steers (United States)
Dominic Swan, Global CIO private debt, HSBC Asset Management (United Kingdom)
Chair: Colin Tate, chief executive, Conexus Financial (Australia)

Investor response
Meghna Desai, director of investments, New York Presbyterian Hospital (United States)

2:40pm – 3:15pm

Global debt – the impact over the long term

How will the growing debt burden, and borrowing from the future, impact markets, the economy and asset class returns?

Speakers
Rich Randall, global head of debt, IFM Investors (United States)
Chair: Colin Tate, chief executive, Conexus Financial (Australia)

Investor response 
Farouki Majeed, chief investment officer, Ohio School Employees Retirement System (United States)

3:15pm – 3:40pm

Distressed debt: What now after the recovery?

Given the recovery in markets, what does that mean for the opportunity in distressed? What are the regional differences and where are the opportunities?

Speakers
Victor Khosla, founder and chief executive, SVP Global (United States)
Chair: Amanda White, director of institutional content, Conexus Financial (Australia)

Investor response
Kristian Fok, chief investment officer, Cbus Super Fund (Australia)

3:40pm – 4:10pm

Portfolio construction: The growing influence of government spending on cashflows and currency in the new paradigm

This session will look at the biggest risks that asset owners are facing in this environment over the next 2-3 years as a result of the major shifts to near-zero interest rates, coordinated monetary and fiscal policy (MP3), and heightened internal and external conflict. It will look at how the move to MP3 has significant implications for how investors manage risk and construct portfolios going forward. In an MP3 world, direct government spending rather than mostly efficient markets will be a much larger influence on the investment assumptions we take for granted, the drivers of growth and inflation, the flow of liquidity and how it impacts the cash flows of each asset, the pricing of the assets, their discount rate and the currency they’re denominated in.

Speakers
Bob Prince, co-CIO, Bridgewater (United States)
Chair: Colin Tate, chief executive, Conexus Financial (Australia)

Investor response
Stephen Gilmore, chief investment officer, New Zealand Super Fund (New Zealand)
Tom Tull, chief investment officer, Employees Retirement System of Texas (United States)

4:10pm – 4:40pm

The financial system after Covid-19: Reinforcing the lower for longer regime or a catalyst for change?

This session will examine the structural trends in the financial sector that have been either amplified or altered by the COVID crisis. It will also examine whether post-COVID trends in the sector, such as the increased debt that has built up in the system, are likely to reinforce the lower for longer growth, inflation and interest rate regime or act as a catalyst for regime change. The speakers will highlight the most important waymarks for investors, including the intersection with post-crisis monetary and fiscal policy developments, offer thoughts on the likelihood of regime change and consider what that would mean for optimal capital allocation. The session will also discuss the extent to which the financial sector’s resilience will be affected by physical and transition climate risk.

Speakers
Professor Thorsten Beck, Professor of Banking and Finance, Cass Business School; Professor of Economics, Tilburg University; research fellow of the Centre for Economic Policy Research (United Kingdom)
Jeremy Lawson, chief economist, Aberdeen Standard Investments (United Kingdom)
Chair: Amanda White, director of institutional content, Conexus Financial (Australia)

Investor response
David Veal, chief investment officer, City of Austin Employees Retirement System (United States)
Stefan Dunatov, executive vice president strategy and risk, British Columbia Investment Management Corporation (Canada)

Add to Calendar

Day 2 – Wednesday – May 26

1:00pm – 2:35pm

China and emerging markets

1:00pm – 1:45pm

Is China’s growing influence a threat or opportunity?

China is a simultaneous threat and an opportunity for investors. This workshop will look at how to navigate a worsening geopolitical situation and what it means for economic growth. Is the current course a steady state, or are big shocks, for the better or for the worse, possible and even likely?

Speakers
Professor Stephen Kotkin, Professor in History and International Affairs, Princeton University (United States)
Chair: Colin Tate, chief executive, Conexus Financial (Australia)

Investor response 
Tony Broccardo, chief investment officer, Barclays Bank Pension Fund (United Kingdom)
Olivier Rousseau, executive director, FRR (France)
Geraldine Jimenez, director of investment strategy and risk, CalSTRS (United States)
Jay Willoughby, chief investment officer, TIFF (United States)

1:45pm – 2:10pm

What economic transparency means to sovereign investments

A lack of transparency and sound data remain huge challenges in many emerging markets. So how should investors assess the risk of investing in emerging markets given the inefficient access to information? How does ‘economic transparency’ affect asset prices? The panel will discuss the link between governance principles, asset prices, trust in government and investment volatility and what investors can do about it.

Speakers
Majdi Chammas, head of external asset management, AP1 (Sweden)
Marshall Stocker, director of country research, emerging markets, Eaton Vance Management (United States)
Chair: Amanda White, director of institutional content, Conexus Financial (Australia)

2:10pm – 2:35pm

Finding growth in emerging markets

Emerging markets are home to the world’s fastest-growing economies and their long-term equity returns have attracted investors. In the past several years, however, many investors may have been disappointed by lacklustre results from their emerging markets allocations. This session argues that investors should look to companies with strong secular growth to find alpha in emerging markets.

Speakers
Sara Moreno, managing director, emerging markets PM and healthcare specialist, Jennison (United States)
Mark Walker, chief investment officer, Coal Pension Trustees (United Kingdom)
Chair: Colin Tate, chief executive, Conexus Financial (Australia)

2:35pm – 5:00pm

The future

2:35pm – 3:05pm

Technological innovation – the (investment) world reimagined

The interruptions to work and the revolution of technological tools in 2020 have changed the way investors assess products, fund managers and stocks. What technological tools are investors using in a remote environment including more innovative ways to do due diligence? What behaviours and processes have changed because of COVID and lockdown?

Speakers
Rick di Mascio, chief executive, Inalytics (United Kingdom)
Dev Jadeja, head of investment due diligence, Local Pensions Partnership Investments Limited (United Kingdom)
Luba Nikulina, global head of research, Willis Towers Watson (United Kingdom)
Chair: Colin Tate, chief executive, Conexus Financial (Australia)

Investor response
Jason Morrow, deputy, chief investment officer, Utah Retirement Systems (United States)

3:05pm – 3:25pm

Investor case study: Using AI in investments

The C$23 billion Canadian fund, OPTrust is embracing the power of technology to improve investment outcomes. Wei Xie explains the fund’s focus on two subdomains of machine learning - reinforcement learning and uncertainty modelling - and how they can be used together.

Speakers
Wei Xie, co-head of multi-strategy investing team, OPTrust (Canada)
Chair: Amanda White, director of institutional content, Conexus Financial (Australia)

3:25pm – 3:55pm

INVESTING IN THE INNOVATION ECONOMY

This session will examine the venture capital landscape and how it has changed due to the pandemic. What is the future outlook for venture investing in the US and globally?

Speakers
Todd Cohen, director, investment office, New  York Presbyterian Hospital (United States)
Mitchell Hammer, investment associate, Princeton University Investment Company (PRINCO) (United States)
Magnus Grimeland, chief executive, Antler (Singapore)
Chair: Todd Ruppert, chair, INSEAD endowment (United States)

3:55pm – 4:15pm

In conversation with a venture capitalist

Todd Ruppert in conversation with serial entrepreneur and technology investor, Joe Lonsdale.

Speakers
Joe Lonsdale, founder and general partner, 8VC (United States)
Chair: Todd Ruppert, chair, INSEAD endowment (United States)

4:15pm – 5:00pm

A post-COVID economy

The big difference between the vaccine rollouts and the scale of the stimulus measures across the world could result in a K-shaped global economic recovery, with much of the developed world booming but poorer countries continuing to struggle. However the west, with its growing debt, is not out of the woods either. What does the global economy look like post-crisis?

Speakers
Joseph Stiglitz, University Professor, Columbia Business School (United States)
Chair: Amanda White, director of institutional content, Conexus Financial (Australia)

Investor response
Jean Michel, chief investment officer, IMCO (Canada)
Response
Sharan Burrow, general secretary, ITUC (Belgium)
Fiona Reynolds, chief executive, PRI (United Kingdom)
Jaap van Dam, head of strategy, PGGM (Netherlands)