Investor Council 2023
Show your true Colors
Pension funds must become more transparent about their investments. After all, in the new system, discerning members want to know about their investments, their costs and their risks. Funds invest with an eye for people and the environment, but half-hearted sustainability claims are being penalised - a little green is no longer enough. Traditional portfolio ratios, active investing and broad diversification are under discussion. As are lucrative but opaque 'alternatives'. How do funds cope with these developments?
We'll discuss it all at the Investor Council.
10 October 2023
LantarenVenster, Otto Reuchlinweg 996, Rotterdam
Programme
10:45- 11:15 Registration
Workshop
Rules of engagement
Exclusion of polluting companies, according to some investors, is just shifting the problem. Only with engagement can you bring about real change in the world. But how do you organise effective engagement? In this interactive workshop we will discuss how, as a pension fund, you set clear goals, measure tangible impact and set hard deadlines. And how to then link investment consequences to them.
Speaker: Karlijn van Lierop, Director Responsible Investment, Columbia Threadneedle Investments
12:00-13:00
Registration and lunch
13:00
Opening
André de Vos, Editor Print & Events Pensioen Pro
13:05-13:35
Keynote presentation
Can we innovate our way out of the climate crisis?
The road to zero greenhouse gas emissions is long. In the meantime, technological solutions are needed to reduce, capture and store existing emissions. Pension funds can also play a role in this.
Speaker: Heleen de Coninck, Professor of climate change and innovation at Eindhoven and Nijmegen and lead author of IPCC reports
13:35-13:55
Presentation
The battle for sustainability: rules vs ambition
Pension funds work hard to comply with sustainability legislation, esg risk management cycles and regulator surveys. But each fund has its own sustainability ambitions and wishes. As a board member, how do you prevent your own policy from getting snowed under by rules and deadlines?
Speaker: Robin Schouten, Director Fiduciary Management at Van Lanschot Kempen
14:00-14:25
Presentation
Transition outlook
How to track the transition to a low-carbon economy: one of several mega forces sweeping markets? A framework to help assess the investment opportunities and risks it may bring.
Speaker: Christopher Kaminker, Head of Sustainable Investment Research & Analytics, BlackRock Investment Institute
Stream A
15:00 - 15:30
Breakout Session
From Theory To Practice | ESG Investing In U.S. Small Cap Stocks
What are the opportunities and challenges regarding sustainable investing in U.S. small cap stocks? We will focus on the practical application of investing in this asset class and look at the value & challenges of ESG analysis, and sustainability and engagement drive growth and differentiation.
Speaker: Matt McGeary, Portfolio Manager, Eagle Asset Management
15:30 - 16:00
Breakout session
Sustainable private equity
ESG values are becoming more stringent, also for private equity. In addition to often high demands for yields, demands for sustainability are more often being looked at. How can one judge private equity funds on sustainability and where do you draw the line? Sebastiaan Runner will tell us how MN goes about it.
Speaker: Sebastiaan Ranner, Senior fund manager private equity & infrastructure, MN
Stream B
15:00 - 15:30
Breakout Session
Green bonds
With higher inflation here to stay, interest rates are rising. A good time to make credit portfolios more sustainable?
Speaker: Bram Bos, Lead Portfolio Manager, NN Investment Partners
15:30 - 16:00
Breakout session
Impact and yield in emerging countries
Issues concerning climate change, poverty and social inequality are especially relevant in emerging markets. But it’s not easy for pension funds to find suitable sustainable investments in emerging markets. Multilateral development banks can contribute to reaching sustainability goals through loans for companies and projects.
Speaker, Elvira Eurlings, CIO, ILX
Stream A
Sustainable and safe
Stream B
Investing in the new system
Pension funds can achieve attractive returns and make a sustainable impact through their mortgage portfolio. What are the opportunities and what is involved?
Speakers: Saskia Duits and Abdel El Amrani at Achmea Mortgages
Transitioning to the new pension system creates a near-term valuation event with very long-term implications. As funds seek to achieve a fair and smooth transition, how should they think about market and event risks? How can they evaluate the impact on different age cohorts? How should they communicate about possible risks?
Speaker: Robert Kavanagh, Head of Investment Solutions at True Partner Capital
Investing in high yield bonds to finance the transition to a low-carbon economy has practical challenges. What does the sustainable high yield landscape look like from a climate perspective? Which companies can you invest in and how robust are their carbon data? And how to deal with the differences between the European and US views on climate investing?
Speaker: Sarah Harrison, Senior Portfolio Manager, Plus Fixed Income and Martijn de Vree, Head of Fixed Income Solutions, Global Fixed Income, Allspring
The Wtp requires a restructuring of the pension and asset administration interface to align with new operational, reporting and communication requirements. This aspect is raising numerous questions. The issue centers around the risk of generating unnecessary complexity and reinvention of established procedures. In this session we will discuss possible approaches to this challenge and parallels in other occupational pension markets across Europe.
Speaker: Peter Roos, Commercial Director at Lumera.
15:25-16:00
Break
16:00-16:30
Keynote Presentation
ESG risks of pension funds
Pension funds are exposed to risks with unsustainable investments, both financial and non-financial. DNB conducted research on this this year and asked 40 funds about how they deal with ESG risks. In this session, a presentation of some of the first impressions and a Q&A on the importance of monitoring ESG risks.
Speaker: Michelle Ummels, ESG Risk Supervisor, DNB
16:30-16:50
Presentation
Fewer holdings, more focus
Diversification is often the motto in investing. But over-diversification into different stocks is not necessarily better. With 50 rather than 3,000 companies in your portfolio, you 'really' know what you own. Focusing on quality means attractive returns, reduced risk and a more focused sustainability policy in the longer term.
Spreaker: Sander Zondag, CEO en CIO, OBAM Investment Management
16:50–17:40
Panel
Sustainable Investing: The Boundaries between Active and Passive
The debate on active and passive investing has been given new fuel by pension funds' desire to have their own sustainability policies. Many funds find that existing indexes do not suffice. So indexes are adjusted, tailored or, on the contrary, active mandates are reinstated. But doesn't that generate more costs and doesn't that put us back in the same discussion about the added value of active investment?
Panel discussion including Marcel Andringa (PME), Lukas Daalder (BlackRock), Sander Zondag (OBAM) and André Snellen (Bpf Detailhandel).
Moderators: André de Vos, editor-in-chief print and events and Tjibbe Hoekstra, reporter, Pensioen Pro
17:40-17:45
Final Act
By Hans van Meerten, Lawyer | Professor | European Pension and EU Law | GMW Lawyers