The 2001 Risk Management Conference

Managing Risk in a Future of Single-Digit Returns

Leaders from the Canadian pension fund industry gathered at the third annual Risk Management Conference to discuss this year's theme - "Managing Risk in a Future of Single-Digit-Returns." Hosted by the Canadian Investment Review and the Bonham Centre for Finance at the University of Toronto, the conference brought together key members of the plan sponsor, money management, academic, and custodial communities. The beautiful Chateau Montebello in Québec provided the setting for this year's discussions.

Focused on the single-digit future faced by investors, this year's theme reflected the reality of economic conditions today - an era of uncertainty and market volatility. Burton Malkiel from Princeton University, this year's keynote speaker, addressed the theme by arguing that the equity risk premium investors will realize in the future is likely to be very small. However, there are ways to weather the storm.

The articles that follow draw on two days of presentations designed to bring you leading-edge research, ideas and insights in the area of risk management. Together, they outline the factors plan sponsors should consider in order to effectively manage risk in a single-digit environment - what the issues are and why they are important. From topics like governance and money manager structure to specific tools and strategies, this series of articles takes a top-down approach to the subject of risk management.

Whether you are interested in absolute return strategies, fixed income, or currency, you are sure to find this year's Risk Management coverage both interesting and useful.


Group photograph and portraits by Ron Devries
Participants in alphabetical order:
Robert Adams, Bank of Montreal
Helen Bain, Air Canada
Lori Bak, Canadian Investment Review
Alain Belanger, Scotia Capital
Malcolm Benn, Elliott & Page
Caroline Cakebread, Canadian Investment Review
Chris Caswell, Via Rail Canada
Louise Charette, Alcan Pension Funds
Lynn Clark, Ontario Municipal Emloyees Retirement Board
Chris Cockburn, Russell/Mellon Analytical Services
Jamie Colliver, Integra
Jean-François Courville, State Street
Darren Dansereau, Alberta Revenue
Harindra de Silva, Analytic Investors
Mario Galizia, Towers Perrin
Harry Gibbs, Workplace Safety & Insurance Board
Dan Goguen, New Brunswick Investment Management Corporation
Emilian Groch, Alberta Teachers' Retirement Fund Board
Peter Hadden, Baillie Gifford
Paul Halpern, University of Toronto
Jim Hoult, Stelco Inc.
David Howarth, Canadian Pacific Investment Management
Don Hurley, Inco Ltd.
Adrian Hussey, Manulife Financial
Peter Jarvis, Ontario Municipal Employees Retirement Board
Michael Keenan, Bimcor
Lawrence Kryzanowski, Concordia University
Tristram Lett, YMG
Françoys Levert, State Street
David Linds, CIBC Mellon
Michel Lizée, Pension Plan of the Université du Québec
Richard MacDonald, Canada Mortgage and Housing Corporation Pension Fund
Claude Macorin, McGill University
Richard McAloney, Nova Scotia Association of Health Organizations Pension Plan
Shawn Menard, Russell/Mellon Analytical Services
Catherine Mitchell, Canadian Investment Review
Richard Parrish, BC Investment Management Corporation
Tom Phelps, Noranda Inc.
Stephen Philp, Scotia Capital
Bill Rentz, University of Ottawa
David Service, Towers Perrin
Jim Stothers, Ontario Electricity Pension Services Corporation
Shams Talib, Towers Perrin
Terri Troy, Royal Bank
Michael Walsh, Elliott & Page
Paul Williams, Rogers Media
Gigi Wong, Hospitals of Ontario Pension Plan
Mike Zych, Scotia Capital
Contex Group Inc.