Contact Laurie Asuncion at 416-764-4144.
The U.S. Grant Hotel
San Diego, CA, USA
Content from 2011's Investment Innovation Conference below.
[TO VIEW VIDEOS FROM THE 2011 INVESTMENT INNOVATION CONFERENCE- CLICK HERE!]
This newly-focused conference along with its academic partner Richard Ivey School of Business, University of Western Ontario will bring together experts and thought leaders to discuss unique perspectives and approaches to defined benefit pension fund investing. The Investment Innovations Conference will present leading edge investment research and will explore new investment approaches and ideas, unique strategies, and non-traditional asset class investments that benefit large Canadian pension plan organizations.
Who Should Attend this Event?
The conference is an exclusive, educational forum that brings together senior representatives of Canadian pension plan sponsors, as well as representatives from the academic, custodial and money management communities.
How Do I Attend?
Participation at the Investment Innovation Conference is by invitation only. For more information on the event, please email Garth Thomas, Executive Publisher of Canadian Investment Review, for consideration.
Canadian Investment Review is Canada's leading forum for academics, institutional investors and industry practitioners to exchange ideas on the capital markets, investment and economic theory and the related sociology and demographics. To that end, it publishes articles that offer original ideas based on existing literature and brings new insight to relevant themes and practices within the institutional investment community.
What Do Past Delegates Say?
Past attendees of the former Alternative Investment Conference rated the event:
• 100% of attendees found the quality of this conference good or excellent.
• 97% found it a good or excellent environment to network with colleagues.
• 94% found the information presented was actionable within their organization.
For more information, contact Laurie Asuncion Editor, Conferences and Online Events
Come back soon for more details on the 2012 agenda!
Last year's agenda...
2011 Theme: Coping with the Financial Crisis Hangover
WEDNESDAY NOVEMBER 16
9:30 a.m. Investment Innovation Golf Tournament (Riddell’s Bay Golf and Country Club)
5:00 – 6:00 p.m. Speaker Rehearsal (Gardenia II)
6:00 – 9:00 p.m. Registration, Opening Cocktail Reception and Dinner (Poolside)
THURSDAY NOVEMBER 17
8:00 – 9:00 a.m. Breakfast and Registration (Windows on the Sound Restaurant)
9:00 – 9:15 a.m. Opening Remarks (Gardenia II)
9:15 – 10:15 a.m. KEYNOTE SESSION (Gardenia II)
The Equity Risk Premium, the Liquidity Premium and Other Premiums in the Market
The way to make long-run excess returns in the market is to invest in premiums of various types. The predominate premiums are the equity risk premium and the liquidity premium, both of which have had substantial historical payoffs. We will compare these premiums to other premiums such as size, value and momentum premiums in stock markets, and to horizon and default premiums in bond markets. Portfolio management should focus on these major premiums so that returns can be maximized while taking on the appropriate amount of risk and liquidity. Finally, we discuss whether these premiums are likely to continue in the future or diminish over time.
Keynote Speaker:
Roger Ibbotson, Professor of Finance, Yale School of Management
(This keynote session was made possible by Franklin Templeton Institutional.)
[DOWNLOAD THE PRESENTATION] [VIEW VIDEO]
10:15 – 10:45 a.m. SESSION TWO (Gardenia II)
Dynamic De-risking
Dynamic de-risking (DDR), an asset allocation strategy that adjusts as the funded status of a pension plan changes, is the next evolution in balanced funds for DB pension plans. DDR allows plan sponsors to easily implement a tailored strategy to control the funding volatility of a pension fund while taking advantage of rapid market movements. This presentation will provide more detail about the steps involved in implementing a DDR strategy.
Speaker:
Soami Kohly, Vice-president, Head of Liability Driven Investing, McLean Budden
[DOWNLOAD THE PRESENTATION] [VIEW VIDEO]
10:45 – 11:15 a.m. NETWORKING BREAK (Gardenia II Foyer)
11:15 – 11:45 a.m. SESSION THREE (Gardenia II)
Finding Stable, Uncorrelated Returns in an Environment of Sharply Increasing Volatility
Stable and predictable returns are not a general feature of assets or markets, nor do they come from simply assembling uncorrelated assets in a portfolio. Rather, an active portfolio management process around a portfolio of uncorrelated assets is the key to generating stability and predictability in returns. Paying particular attention to the strategies used by systematic macro or managed futures managers, this presentation will explore a number of active portfolio management strategies that can be used by both managers and allocators of capital to maintain relatively constant risk/return profiles across widely varying market environments.
Speaker:
Roland Austrup, CEO and Chief Investment Officer, Integrated Managed Futures
(This session was made possible by Integrated Asset Management.)
[DOWNLOAD THE PRESENTATION] [VIEW VIDEO]
11:45 a.m. – 12:15 p.m. SESSION FOUR (Gardenia II)
Liabilities as Part of Risk Management
This session will focus on how liability driven investing fits into a risk management framework, how to include liabilities into risk measurement systems, how to avoid common mistakes when interpreting risk information and absolute risk measures versus relative risk measures.
Speaker:
Damian Handzy, Chair and CEO, Investor Analytics
(This session was made possible by CIBC Mellon.)
[Click here to request copy of presentation.] [VIEW VIDEO]
12:15 – 1:30 p.m. LUNCH BREAK (Gardenia III)
1:30 – 2:00 p.m. SESSION FIVE (Gardenia II)
Infrastructure Case Study: How Small and Mid-size Canadian Pension Plans Can Directly Access Infrastructure Deals on a Cost-effective Basis
Terri Troy and Dan Goguen will review how five to eight Canadian pension plans worked together alongside the Canada Pension Plan Investment Board to gain access to two recent infrastructure deals. The presentation will cover the benefits of working together as well as considerations for those wishing to access infrastructure deals in this manner.
Speakers:
Dan Goguen, Head of Private Investments, New Brunswick Investment Management Corp. and
Terri Troy, CEO, Halifax Regional Municipality Pension Plan
[DOWNLOAD THE PRESENTATION] [VIEW VIDEO- Dan Goguen]
[VIEW VIDEO- Terri Troy]
2:00 – 2:30 p.m. SESSION SIX (Gardenia II)
Market-neutral Investing: A Canadian Perspective
The use of non-traditional asset classes is becoming increasingly popular in the management of institutional portfolios. With continued market volatility, the market-neutral strategy has surfaced as a means for some managers to decrease portfolio volatility, while providing attractive risk-adjusted returns. This session will provide, an overview of the market-neutral strategy, including the benefits to an institutional portfolio and risk management techniques. The session will also discuss implementing a Canadian market-neutral strategy, touching on unique aspects and regional considerations.
Speaker:
Andrew Marchese, Head of Canadian Equities and Portfolio Manager, Pyramis Global Advisors
[DOWNLOAD THE PRESENTATION] [VIEW VIDEO]
2:30 – 2:45 p.m. NETWORKING BREAK (Gardenia II Foyer)
2:45 – 3:15 p.m. SESSION SEVEN (Gardenia II)
Investing in Foreign Real Estate: A Market Update and Focus on U.S. Real Estate
Participants will get an overview of the current market situation in North American and European real estate markets, in particular, and focus on opportunities being presented in the U.S. market. Presenters will also provide an overview of tax structuring issues faced by Canadian investors typically associated with investing in U.S. real estate and look to answer questions related to this multi-faceted issue.
Speakers:
Eric Bonnor, Senior Vice-president, Private Funds Group, Brookfield Asset Management
Blayne Grady, Partner, Investment Funds Practice, Akin Gump Strauss Hauer & Feld LLP
[DOWNLOAD THE PRESENTATION] [VIEW VIDEO- Eric Bonnor]
[VIEW VIDEO- Blayne Grady]
3:15 – 4:00 p.m. SESSION EIGHT (Gardenia II)
Post-Modern Asset Allocation—A Risk-based Analysis
This presentation, discusses the issues surrounding beliefs as to the benefits of traditional asset allocation. The presentation will illustrate a framework for investing across a wide range of investment classes and means to access illiquid investment vehicles. In addition, it will explore the development of new risk-based investment products as well as their place in asset allocation and present potential areas of emphasis in future discussions of asset allocation.
Speaker:
Thomas Schneeweis, Michael and Cheryl Philipp Professor of Finance and Director of the Center for International Securities and Derivatives Markets, Isenberg School of Management, University of Massachusetts-Amherst
[DOWNLOAD THE PRESENTATION] [VIEW VIDEO]
4:00 – 4:10 p.m. CLOSING REMARKS (Gardenia II)
6:00 p.m. Cocktails and Hors d’Oeuvres (Ocean Club Restaurant)
7:00 p.m. Gala Dinner Reception (Ocean Club Restaurant)
FRIDAY NOVEMBER 18
8:00 – 9:30 a.m. Breakfast (Windows on the Sound Restaurant)
9:30 – 9:40 a.m. Opening Remarks (Gardenia II)
9:40 – 10:40 a.m. KEYNOTE SESSION TWO (Gardenia II)
Risk and the Perils of Financial Innovation
The conventional tools for risk management cannot do the job because much of financial innovation—spawned through the efforts of financial engineers—creates innovative risks that these tools cannot measure, much less manage. The solution is to take a more qualitative approach to what has traditionally been a quantitative exercise of risk monitoring.
Keynote Speaker:
Richard Bookstaber, Author, A Demon of Our Own Design
[VIEW VIDEO]
10:40 – 11:10 a.m. SESSION TEN (Gardenia II)
The Benefits of Private Markets Strategies in a Low-growth Environment
Market commentators are forecasting an economic environment characterized by low economic growth and periods of extreme volatility. This session will address how managers of private markets portfolios (i.e. private equity and infrastructure) are better able to manage through volatile market environments and deliver meaningful, long-term return and diversification benefits to an institutional portfolio. In particular, the discussion will focus on the key success factors that have sustained and supported the performance of a global private equity portfolio during challenging economic times.
Speaker:
Stuart Waugh, Managing Partner and Managing Director, Northleaf Capital Partners
[Click here to request copy of presentation.] [VIEW VIDEO]
11:10 a.m. – 12:10 p.m. SESSION ELEVEN (Gardenia II)
Panel: What Are the Top Instruments to Deal with Inflation?
Global economists have been raising flags about inflation risk for the past few years, but do we really need to worry about it right now? And, if so, what are the major risks it presents to DB plans? In this panel session, members of the Canadian pension industry will discuss whether or not inflation is a real threat today and, if so, the pros and cons of hedging inflation risk.
Panellists:
Bruce Grantier, President, Airth Inc.
Josephine Marks, Managing Director, Pension Assets, Scotiabank
Andrew Spence, Global Head of Research for Rates and Foreign Exchange, TD Securities
Moderator:
Zev Frishman, Vice-president, Global Equity Strategies, Ontario Teachers’ Pension Plan
[VIEW VIDEO]
12:10 – 12:15 p.m. CLOSING REMARKS (Gardenia II)
12:15 p.m. CLOSING BARBEQUE LUNCH (Great Sound Lawn)
For more information, contact Laurie Asuncion, Editor of Conferences.
General Activities
Come back soon for more details on the 2012 activities!
For more information, contact Joanne Boccia, Event Manager
The U.S. Grant Hotel
San Diego, CA, USA
A San Diego icon since 1910, the palatial US GRANT is situated in the lively, historic downtown Gaslamp quarter, just steps from top shopping, dining, and entertainment destinations, and a short drive from beaches, museums, and family attractions.
Accommodation
The U.S. Grant Hotel
326 Broadway
San Diego, CA
92101 USA
Phone: (619) 232-3121
usgrant@usgrant.net
For hotel directions, click here.
For more information, contact Joanne Boccia, Event Manager