Name: Co-investments: opportunities & challenges of successful portfolio construction
Start: 2024-06-13T13:00:00Z
End: 2024-06-13T13:00:50.000Z
Location: BrightTALK
Rating: 4.6

This webcast channel is for pension funds and other institutional investment professionals in Europe, the USA and Asia. It is particularly relevant for pension fund executives, trustees, consultants and investment managers. IPE will be bringing its community live interviews with leading figures in the market, hosting roundtable discussions on specific topics such as asset allocation and also sharing latest thought-leadership from investment experts.

*For professional investors only*

Impact investing has moved up the agenda as a powerful way of delivering financial returns while also tackling the world’s biggest social and environmental challenges. The growth in listed impact strategies continues, as the sector expands beyond its private market origins. What role can institutional investors play in meeting impact goals and how can the transparency of listed markets be leveraged to best effect?  
 
AXA IM’s Jane Wadia and Johann Plé will shine light on the main themes in the listed impact space and present concrete investment opportunities with potentially impactful outcomes across equities and fixed income. Join the webinar for their insights on harnessing listed assets within your investment strategy for pension schemes and insurance companies seeking positive, impactful change that protects people and planet.
 
Topics being discussed include:

• What contribution can listed assets make to delivering impact?
• How should investors incorporate impact in their asset allocation? 
• How to measure impact in listed assets?
• What are the challenges faced by investors seeking to integrate impact in their portfolios?

Speakers:
Jane Wadia, Head of Sustainability, Core Products & Clients – AXA IM Core
Johann Plé, Lead Portfolio Manager Green Bonds and Social Bonds Impact Strategies – AXA IM

Moderated by Martin Hurst, IPE

How institutional investors can deliver meaningful impact via equities and bonds

With the MENA region becoming a significant part of the MSCI EM Index over the past few years, it is a space that is increasingly interesting for EM investors.
 
As one of the fastest growing markets in the emerging world, we believe there is a structural case to hold MENA equities for global institutional investors and asset allocators. This includes:
 
Evolution of Capital Markets
• Capital markets in MENA have evolved rapidly due to regulatory reforms, change of political leadership and will, technological advancements, and increased investor participation 
• Improved liquidity and transparency have made MENA equities more accessible to both institutional and retail investors.
 
Transformational Growth from Non-Oil
• MENA’s non-oil sectors have witnessed significant growth, driven by economic diversification efforts.
• Themes such as technology, healthcare, and renewable energy are reshaping the investment landscape.
• For example, Saudi Arabia is targeting renewables to become 30% of electricity generation. Private healthcare is targeted to represent 40% of overall bed capacity by 2030 

Societal Transformation
• MENA countries are undergoing significant societal changes, impacting business models and investment opportunities.
• Demographic shifts, urbanization, and cultural transformations influence equity markets.
 
Hear Mehdi Kaoukabi, CFA, Portfolio Manager at FIM Partners, deep dive and explain why this growing segment of the Emerging Markets is gradually becoming too big to ignore

MENA Equities: Rethinking Exposure in Emerging Markets

Der anhaltende Russland-Ukraine Krieg zeigt, dass die Zeit nach dem Kalten Krieg vorbei ist. Viele Länder werden sich nun ihrer potenziellen Sicherheitslücken bewusst, sei es in Bezug auf militärische Ausrüstung oder Cyberabwehr. Nur 11 der 32 NATO-Mitglieder haben in den letzten Jahren das gesetzte Ziel von 2% des BIP für Militärausgaben erreicht. Doch angesichts des Kriegsausbruchs in Europa und der sich verschärfenden Spannungen anderswo, erhöhen NATO-Mitglieder nun Ihre Ausgaben, was der Auftragslage von Unternehmen im Verteidigungssektor zu Gute kommt. Gleichzeitig überdenken Investoren Ihre bislang eher vorsichtige Einstellung gegenüber Verteidigung.

• Wie viel Geld fließt derzeit in neue Ausrüstung?
• Welche Rolle spielen AI und Cybersicherheit?
• Und wie können Investoren an der Entwicklung des Sektors partizipieren?

Wir beleuchten diese und weitere Fragen in unserem Webinar.

Marktausblick und Investmentmöglichkeiten im Rüstungssektor

GUIDO BALTUSSEN, Head of Quantitative Strategies - International, Northern Trust Asset Management
Our research reveals that equity factors in emerging markets have been a reliable source of alpha, offering higher returns with lower correlations to developed markets. This indicates that emerging markets are shaped by distinct local conditions, creating unique diversification opportunities for investors. Key topics include:

• Companies with robust governance structures and solid financials that tend to better withstand the inherent risks of emerging markets.
• Improved data quality in these regions now allows investors to assess environmental, social, and governance factors with greater accuracy. 
• Adopting a multi-factor approach and prioritising sustainability can help deliver optimal risk-adjusted returns.

SEAN TAYLOR, Chief Investment Officer, Matthews Asia
Are the prospects for EM equities improving in the current geopolitical and economic climate? Sean Taylor will provide his insights and discuss the need for active management to generate alpha and manage risk in emerging market portfolios. Key topics include:
 
• The key drivers of potential return across the region
• How country, sector, and stock selection can help to navigate risks and achieve success
• Utilizing the full market cap spectrum to drive performance and construct resilient portfolios
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Speakers:
– Guido Baltussen, PhD, Head Of Quantitative Strategies, International, Northern Trust Asset Management
– Sean Taylor, Chief Investment Officer and Portfolio Manager, Matthews Asia

EM Equities: Alpha through Equity factors and Active Management

Consider the beleaguered small-cap asset class: Institutional investors have largely been underweight small caps for years. Today, they represent less than 4% of the broader equity market, the lowest level in nearly 100 years. This allocation decision has been correct, as small caps have lagged large for 9 of the last 10 years.

As inflation moderates and interest rates normalize, small caps may be at an inflection point with attractive valuations and accelerating earnings growth relative to large.

Several other factors weigh in favor of small caps. The trend of deglobalization and nearshoring of supply chains are primed to benefit the asset class for the next decade. Accelerating M&A and the resurgence of IPOs bode well for small-cap active managers. Innovation in AI and biotechnology stands to benefit smaller companies.

In addition to inflation data and central bank policies, the US election in November could be a catalyst, as small caps have historically tended to outperform following elections.

Join American Century Investment’s senior investment director Mike Rode and senior client portfolio manager Jim Shore as they discuss the state of small caps and how a confluence of market conditions could lead to small cap outperformance after years of trailing large caps.

Speakers:
Mike Rode, CFA, Vice President, Senior Investment Director, American Century Investments
Jim Shore, CFA, Vice President, Senior Client Portfolio Manager, American Century Investments

For investors who like small caps but remain underweight: Why wait?

With the recent stock market dominance of the magnificent 7, what lies ahead? Join us for an exclusive webinar where we delve into the world of investing in innovative companies. Discover how to identify proven and future stock market winners, navigate risks, and capitalize on innovations shaping the future of industries.

Exploring Innovation: Uncovering Future Stock Market Winners

Despite the growing emphasis on biodiversity among asset owners and the broader industry, integrating natural capital considerations into portfolios remains challenging, as data, frameworks, and disclosures are still relatively nascent. Join our panel of experts to uncover practical ways to assess biodiversity risks and opportunities and integrate natural capital into your equity portfolios.

Key topics include:

• Gain actionable insights on understanding and mitigating biodiversity risks 
• Explore the latest frameworks, data, and metrics empowering investors to effectively measure exposures and impacts
• Discover practical ways to address a wider spectrum of environmental considerations across your core portfolios

Speakers:
– Julie Moret, Global Head of Sustainable Investing Integration, Northern Trust Asset Management
– Dr. Marcel Jeucken, Founder and director, SustFin 
– Sylvain Vanston, Executive director, climate investment research, MSCI 

Moderator: Brendan Maton

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Northern Trust Asset Management (NTAM) is composed of Northern Trust Investments, Inc., Northern Trust Global Investments Limited, Northern Trust Fund Managers (Ireland) Limited, Northern Trust Global Investments Japan, K.K, NT Global Advisors, Inc., 50 South Capital Advisors, LLC,  Northern Trust Asset Management Australia Pty Ltd, and investment personnel of The Northern Trust Company of Hong Kong Limited and The Northern Trust Company.

© 2024 Northern Trust Corporation. Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A.

Integrating Natural Capital into Equity Portfolios: Practical Considerations

The rapid rise of passive investing is one of the stand-out phenomena of this century. Detractors have long argued that it is largely underpinned by excess liquidity from central banks in the wake of the 2008 Global Financial Crisis. Once that drains away, as has happened conspicuously in the last two years, the wheels will come off the passive bandwagon.

After the underperformance of ESG investments in the bear market of 2022, ESG detractors appear to ignore the latest regulatory and policy overdrive, aiming to improve existing standards elevate ESG as a compensated risk factor in investment portfolios.  These regulatory and policy measures are likely to have a significant impact on investors‘ asset allocation and use of Passive vehicles.

Against this backdrop, Amin Rajan, CEO of CREATE Research and Sebastian Schiele, Global Head of Xtrackers Mandates & Solutions Sales at Xtrackers by DWS will elucidate the findings of the newly released Passive Investing Report 2024 “Are ESG regulatory and policy measures driving asset allocation?”. 156 pension plans have participated in the survey. They have provided practical insights into how investors are reacting to an increasing number of ESG-related regulatory and policy initiatives via their asset allocation. The survey conducted by CREATE Research is sponsored by Xtrackers.

The webcast will address the following topics:

• What ESG-related initiatives in terms of regulation and policy are currently underway?
• How are these likely to increase ESG risk and opportunities being observed as compensated risk factors? 
• What developments could inhibit such evolution of ESG as a compensated risk factor?
• How does this influence institutional investors‘ – chiefly pension funds‘ – view on asset allocation?
• What does this mean for the adoption of passives and passive solutions‘ product development? 
• How are the manager selection criteria becoming ever more robust? 

The webcast will be moderated by Brendan Maton.

Are ESG regulatory and policy measures driving asset allocation to Passive?

Impact Investing: 
• Emerging Markets: Investing for Profits and Progress
• High Yield: Engaging with Issuers on Climate Risk 
• Renewable Energy: Unlocking the Potential

FIONA MANNING, Fund Manager, Premier Miton Emerging Markets Sustainable Fund
"No compromise: Investing for profits & progress in EMs”
Is the tail wagging the dog? Has the focus on decarbonising investment portfolios resulted in an increased risk of failing to achieve global decarbonisation? Geopolitical risk is elevated, development finance and public equity capital flows have been retreating from emerging markets as the impact of higher interest rates in the US crowds out other risk assets. 

PAULA LUFF, Director of Sustainability Research and Corporate Engagement, DSC Meridian Capital
“Addressing Climate Change Through Fixed Income Investing”
Since 2019, 89 asset owners accounting for $9.5 trillion in AUM have signed onto the Net Zero Asset Owner Alliance, committing to decarbonization objectives across their portfolios. While governments, regulators and businesses all have a role to play to combat climate change, asset owners can also play a meaningful role, directing capital towards investments strategies that can have real world, environmental impact.

MARC SCHÜRCH, Head Renewable Energy, Swiss Life Asset Managers
“The Road to Green Energy: Unlocking the Potential of Renewable Energy”
There is no doubt that there is sufficient potential for renewable energy. The difficult question is on how to access it. If we want to achieve climate neutrality by 2050 there is no way around applying various strategies and shaping a framework allowing not just the electricity transition, but also the heat transition and the fuel transition.

Impact Investing: EMs, high yield and renewable energy

In the face of substantial headwinds resulting from multiple factors — including macro risks from foreign conflict, domestic instability, and a global pandemic, a generational supply/demand imbalance, and elevated inflation due to an unprecedented rising interest rate environment — the housing market remains remarkably resilient.

Property values continue to increase across the country, and this has led to record levels of home equity; in fact, over a decade of consistent annualized home appreciation has spurred ~250% growth in owner’s equity since the end of the Great Financial Crisis, but few ways to leverage it without taking on debt.

Subsequently, an innovative opportunity for both investors and homeowners to access this equity has emerged in the form of home equity investments (HEIs), a burgeoning secondary market on the heels of a first of its kind rating methodology. This financing solution:
● Offers similar value to second lien originations, without impacting disposable income
● Provides capital markets structured exposure to appreciation, minus the downsides of homeownership
● Features muted interest rate sensitivity that isn’t correlated to equities
● Serves as an inflation hedge
● Engages diverse pools of homeowners and more.

Join Jeff Glass, Chief Executive Officer of home equity investor Hometap, and Paul Fielding, Chief Operating Officer of venture capital firm General Catalyst, for this webcast, where they’ll discuss the growing popularity and advantages of home equity investments for investors and homeowners alike — and how you can begin to participate in this exciting asset class.

Home Equity Investments: An Untapped Asset Class

Climate change is widely recognized as one of the most important and complex risk factors faced by pension funds in the foreseeable future. Its fundamental uncertainty has seen pension funds employing scenario analysis to assess and analyze the potential climate risks within their investment portfolios and strategies. This has led to the emerging practice of combining and integrating results from climate risk analysis and traditional investment risk analysis, which has encountered a variety of challenges.

Notwithstanding these challenges alongside the volume of potential impact, Ortec Finance, a global provider of technology and solutions for risk and return management for pensions funds across the UK and Europe, has actively progressed to further integrate climate risks into investment decision-making.

Join Ortec Finance in discussing their approach and how they have addressed these unique challenges. They will explore:

• The differences between climate risks and traditional economic and investment risks 
• How these differences are linked to the challenges in combining ‘what if’ deterministic climate scenarios with traditional stochastic economic scenarios
• How these challenges can be addressed by effectively utilizing climate scenarios
• Climate scenarios’ additional value in quantifying potential financial impacts for strategic asset allocation and stress-testing purposes

Related whitepapers:

From climate risk analysis to investment decision making
https://www.ortecfinance.com/en/insights/whitepaper-and-report/from-climate-risk-analysis-to-investment-decision-making

Generating useful financial insights with a credible climate scenario analysis
https://www.ortecfinance.com/en/insights/whitepaper-and-report/generating-useful-financial-insights-with-a-credible-climate-scenario-analysis

Unlocking the true value of climate scenarios
https://www.ortecfinance.com/en/insights/whitepaper-and-report/unlocking-the-true-value-of-climate-scenarios

Integrating climate change into investment decision-making

The Asia Pacific and Middle East region is home to 60% of the world's population, but only accounts for 35% of today’s global real estate market. This disparity is creating attractive investment opportunities, especially as the region’s share of global GDP, forecast to be over 50% by 2030, continues to rise.

Brookfield has been investing in Asia Pacific for over 15 years, with established investment and operating teams in Australia, China, Japan, India, South Korea and the United Arab Emirates. Join Brookfield’s Ankur Gupta, Head of Real Estate in Asia Pacific and Middle East, Andrew Burych, Head of Real Estate in East Asia, and Sophie Fallman, Head of Real Estate in Australia, as they share what they are seeing on the ground, and how they expect current market dynamics to drive near-term investment opportunities.

Themes to be explored include:

- Growing economies: The Asia Pacific markets constitute some of the fastest-growing, largest economies in the world, with the region’s share of global GDP growth already exceeding 70%;

 - Supportive macro policies: Strong fundamentals, accommodative monetary policies, and a broad economic re-opening have created a positive investing environment;

- Resilient real estate fundamentals: Demographic trends and rising consumer wealth are leading to robust real estate demand generators; and,
 
- Global capital market disruption: Uncertainty in capital markets is causing distress for undercapitalized owners around the world, translating into attractive investment opportunities, with transaction activity expected to increase through 2024.

_______________________

Speakers:
Ankur Gupta, Head of Real Estate in Asia Pacific and Middle East, Brookfield
Andrew Burych, Head of Real Estate in East Asia, Brookfield
Sophie Fallman, Head of Real Estate in Australia, Brookfield

Moderated by Brendan Maton, IPE

Asia Pacific & Middle East Opportunistic Real Estate – Brookfield’s Perspective

Value investing historically has delivered substantial excess returns to institutional investors, albeit with a higher carbon footprint as value stocks often come from carbon-intensive sectors. However, the success of a value portfolio hinges significantly on its design. Join our experts as they explore effective strategies to unlock value while meeting your sustainability objectives.

Key topics include:

• The long-term potential of value investing in Europe.
• Synergies between value, quality and momentum to improve-risk adjusted returns.
• Ways to achieve substantial reduction in the carbon footprint without altering the value profile of your portfolio.

Presented by:
– Guido Baltussen, Ph.D, Head Of Quantitative Strategies, International, Northern Trust Asset Management
– Julie Moret, Global Head of Sustainable Investing Integration, Northern Trust Asset Management

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Important information: This material is directed to professional and eligible counterparties only and should not be relied upon by retail investors. The information is not intended for distribution or use by any person in any jurisdiction where such distribution would be contrary to local law or regulation. Northern Trust Asset Management (NTAM) is composed of Northern Trust Investments, Inc. (NTI), Northern Trust Global Investments Limited (NTGIL), Northern Trust Fund Managers (Ireland) Limited (NTFMIL), Northern Trust Global Investments Japan, K.K. (NTKK), NT Global Advisors, Inc., 50 South Capital Advisors, LLC, , Northern Trust Asset Management Australia Pty Ltd and investment personnel of The Northern Trust Company of Hong Kong Limited (TNTCHK) and The Northern Trust Company (TNTC).

© 2024 Northern Trust Corporation. Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A. Issued in the United Kingdom by Northern Trust Global Investments Limited. Issued in the EEA by Northern Trust Fund Managers (Ireland) Limited.

Redefining Value Investing: How to Achieve Performance and Decarbonization

After a stellar performance in 2023 – what is driving the EM Debt market in remaining 2024?
 
2023 was an excellent year for the Emerging Market Debt asset class. At the end of last year, first central banks in EM started to lower interest rates. Beginning of this year the trend continued. What are the expectations for the remaining year 2024 and what is the sweet spot for investments in the asset class? Follow us and the presenter Michael Vander Elst, Senior Portfolio Manager Emerging Market Debt, Degroof Petercam Asset Management, in this Webinar on 26th April for the details.

AGENDA

Begrüßung und Einleitung
Frank Schnattinger, Chefredakteur
IPE D.A.CH

Präsentation (in English)
Michael Vander Elst – Senior Portfolio Manager Emerging Market Debt
Degroof Petercam Asset Management

Q&A

IPE D.A.CH-Webinar „EM Debt: What is driving the market in remaining 2024“

We are still in the relatively early days of nature featuring as a theme in institutional investment. Still, the direction seems one-way despite potential US and European political headwinds. A key facet of the nature-related investment drive is reporting and disclosure, with a transition from voluntary to mandatory disclosure requirements likely to continue. But nature is also positioned as a must, or opportunity, for stewardship by the private sector. Since last year’s webinar, IPE Focus on Biodiversity 2023, the Taskforce on Nature-related Disclosures (TNFD) has developed its framework for businesses and investors, while two collaborative investor engagement initiatives have been launched. This year’s virtual forum explores what these developments offer investors.

10:00 Welcome
Susanna Rust - Deputy News Editor, IPE

10:05 Keynote
Paul Simpson OBE - Partner - Climate Change & Sustainability, ERM

10:20 Blue Bonds: A Growing Resource for Sustainability Financing
 Samy Muaddi - Head of Emerging Markets Fixed Income. 

10:35 In Debt to Nature – Pricing Nature-Related Risk into Bond Portfolios 
Justine Leigh-Bell - Executive Director, Anthropocene Fixed Income Institute
Moritz Kraemer - Chief Economist and Head of Research at LBBW Bank, Senior Fellow of the Center for Sustainable Finance at SOAS University Of London
 
11:00 Panel: TNFD - Lessons from Early Adopters
Johan Florén - Chief ESG & Communication Officer, AP7 and Member, Taskforce on Nature-related Financial Disclosures, AP7
Arild Skedsmo - Senior Advisor, KLP Asset Management

11:25 Panel: Seeking Progress Through Engagement
Robin Millington - CEO, Planet Tracker
Matthias Narr - Head Engagement International, Ethos Foundation

11:50 Case Studies
Emma Godefroy, Research Officer, Biodiversity Footprint for Financial Institutions, CDC Biodiversité 
Vemund Olsen - Senior analyst, Sustainable Investments, Storebrand Asset Management

12:10 Seminar Wrap

Full agenda: www.ipe.com/natural-capital

Natural Capital - Data, Disclosure and Stewardship

In their 15-year history cryptocurrencies have evolved from a niche technology innovation to a globally recognized asset class. Today, cryptocurrencies make up more than 70bps of the global market portfolio (The Global Market Portfolio, DWS Research Institute, 09/2023). Cryptocurrencies’ ever-growing innovative use cases and increasing institutionalization warrant a closer look for well diversified investors. In this webcast, Xtrackers, jointly with its strategic ally and digital asset-native company Galaxy Digital, will provide an introduction to cryptocurrencies’ value propositions, discuss current trends in the cryptocurrency ecosystem and present cryptocurrency portfolio allocation analyses. Join Xtrackers and Galaxy to learn more about this innovative and dynamic asset class. 

Presented by:
– Barbara Schlyter, Head of Xtrackers Digital Products and Partnerships 
– Su Lee, Product Specialist at Galaxy Asset Management 
– Angelina Kostyrina, Multi Asset Portfolio Manager DWS

Moderated by Brendan Maton

A Bit of Bitcoin: Cryptocurrency value propositions & allocation considerations

We present a quantum leap in this respect: to use quantitative research and machine learning supported by solid academic credentials to produce the data that private markets need to measure value and risk, as you would in listed asset classes.
 
In this webinar, we’ll show you:

• A sophisticated classification taxonomy of private assets that precisely captures the characteristics and nuances of private assets.

• How model-based valuation anchoring data can solve the perennial problem of “stale NAVs”, allow marking assets using a model-based valuation “anchor”, and offer applications in position keeping and investment selection.

• A range of private market indices and benchmarks that aggregate the monthly valuations of thousands of private firms in 100 countries to create genuine measure of market dynamic that can be used in portfolio or fund benchmarking, manager selection, or making strategic investment and allocation decisions.

Presented by:
– Abhishek Gupta, Associate Director and Head of Product Development, Scientific Infra and Private Assets
– Srinivasan Selvam, Senior Product Development Specialist, EDHEC Infrastructure and Private Assets Research Institute

Moderated by Brendan Maton

Private asset investors are often starved of data. Not anymore!

Where do co-investments fit into LPs’ portfolios, and what are their benefits? Please join Manulife Investment Management’s private equity co-investment experts, Rajiv Bakshi and Brian Albert, as they discuss:

• Why LPs like co-investments and their expectation that attractive deal flows will continue
• Choosing co-investment funds versus traditional buyout, secondaries, or funds of funds
• How they build co-investment portfolios with a relentless focus on value creation

Speakers:
Rajiv Bakshi, CFA, Managing Director, Private Equity and Junior Credit, Manulife Investment Management
Brian Albert, CFA, Managing Director, Private Equity and Junior Credit, Manulife Investment Management

Moderator by Brendan Maton, IPE

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Co-investments: opportunities & challenges of successful portfolio construction

Co-investment funds

Co-investments

Investment Strategy

Portfolio Management

Portfolio contruction

Private equity

Institutional investors

Asset Management

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Co-investments: opportunities & challenges of successful portfolio construction

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