Pensions & Investments 13th Annual Global Pension Symposium

Navigating Economic Headwinds Ahead

As the global financial landscape continues to be characterized by increased general uncertainty in 2019, investors prepare for expected increases in market volatility. The threat of protectionism dominates geopolitical concerns weighing heavily on equity markets in sectors particularly exposed to trade. Major central banks are taking coordinated steps towards monetary policy normalization. The effects of Brexit have already taken its toll -- to varying degrees -- on confidence, demand and economic growth. This escalation of uncertainty across the globe can potentially trigger capital pullouts as investors move funds to seek higher yields. If not well-managed, such capital outflows can instigate financial instability, sending regional economies off-course. This financial turmoil impacts long-term investment decisions due to shorter-term demands for performance and liquidity. Such investment pressures require uniquely-skilled guidance for managing these expected headwinds of developed markets, particularly in Japan, where the outlook is recovery, rebalancing and rotation.

The Pensions & Investments 13th Annual Global Pension Symposium helps investors navigate the uncertainty facing retirement portfolios. Experts share best practices and insights on innovative strategies and reviews new trends such as the sustainable investment market which seeks combined financial returns with a social and environmental impact. Attendees of the symposium gain access to the foremost pension investment expertise for mitigating risks within today’s uncertain geopolitical backdrop.

Overview

Date November 12 (Tuesday) – 13 (Wednesday), 2019
(Reception desk opens: 8:30 AM)
Venue The Ritz Carlton Tokyo – 2F Grand Ballroom
Organizer Pensions & Investments

Registration

Registration From

Registration deadline : November 5 (Tuesday)
Registration has closed.

Program

November 12 (Tue), 2019
*simultaneous interpretation (Japanese-English) is provided.

TIME PROGRAM SPEAKER
9:00 – 9:15
Opening Remarks
Christopher J. Battaglia
Vice President and Group Publisher,
Pensions & Investments
Takashi Tachi
Principal Managing Director
Head of Global Research and Fiduciary Service Research
Session 1 : Global Trends in Pension Management and Challenges of Japanese Pension Funds
9:15 – 9:45
Keynote Speech
Global Pension Markets: Long-Term Trends and Short-Term Uncertainty
Investors face a less predictable global environment in 2020, from trade tensions to uncertain monetary policy in key markets. Greg Medcraft considers the effects on this year’s pension fund performance and strategy worldwide with the OECD’s latest analysis and benchmarks, covering trends and developments across 87 countries.
Greg Medcraft
Director,
Financial and Enterprise Affairs
The Organisation for Economic Co-operation and Development (OECD)
9:45 – 10:45
Panel Discussion
As private pensions focus on securing retirement income, the management issues of corporate pension funds become more diverse. As asset management becomes more sophisticated and specialized, securing human resources for asset management or new schemes such as risk-sharing are being considered within corporate pension systems. To deal with the new environment, we will share examples and discuss the future of pension fund management.
PANELISTS
Yuji Horikoshi
Chief investment Officer, Portfolio Manager,
Mitsubishi Corporation Pension Fund
Kazuhiko Irie
Director, Investment
Sekisui Pension Fund
Masao Kato
Managing Director
Fujitsu Pension Fund
Moderator
Tsuneo Taguchi
Senior Executive Advisor
Fiduciary Service Research Center
Nomura Securities Co., Ltd.
Break (10:45 – 10:55)
Session 2 : Digitization Progress and the Impact on Pension Investment
10:55 – 11:25
Keynote Speech 1
The Expanding Opportunity of Artificial Intelligence Utilization in Portfolio Management
Currently, how to utilize AI and Big-Data is one of the most important elements in any industry. The Asset Management Industry is no exception. In this speech, we will show cases of AI・Big-Data utilization in equity portfolio management and explain the characteristics, along with the pros and cons of these approaches.
Yuya Morooka
Senior Portfolio Manager
Investment Dept.
Nomura Asset Management
Tsuyoshi Ogawa
Senior Investment Officer
Investment Dept.
Nomura Asset Management
11:25 – 11:55
Keynote Speech 2
Technology and the Future of Fixed Income Investing
The conventional fixed income investment process is inefficient, from research and portfolio construction to trading. In a market where speed, liquidity and alpha are inextricably linked, a wide gulf in performance may open in the next few years between asset managers who have integrated cutting-edge tools in their investment processes and those who haven’t.
Jeff Skoglund
Chief Operating Officer—Fixed Income
AllianceBernstein L.P
Lunch Break (11:55 – 13:05)
Session 3 : Real Estate Exposure Implications and an Overview of the European Market
13:05 – 13:35
Keynote Speech 1
Structural Trends in Real Estate and the Future of European Markets Beyond Brexit
A specialist in international real estate investment at Schroders, from its London HQ at the eye of the Brexit storm, will elaborate on the major structural trends and factors influencing European real estate markets.
Makoto Fukui
Strategic Partnerships, Director
Schroder (London)
13:35 – 14:05
Keynote Speech 2
The European Real Estate Market: Summary Overview and Urbanization Trends
This presentation will review the economic environment in Europe and its influence on European occupier and capital markets, with particular focus on the investment theme surrounding urbanization trends in European cities and how these relate to demand and supply dynamics.
Jason Oram
Partner, Fund Manager
Europa Capital
14:05 – 15:05
Panel Discussion
Diversity of real estate investment products and offerings have allowed domestic pension funds to accelerate its activities. This session will focus on how real estate investment allocations may affect the overall portfolio and will discuss new investment areas for consideration.
PANELISTS
Katsumi Hamamoto
Pension Investment Director
Mitsubishi Electric Pension Fund
Koji Ohashi
Manager, Treasury Group
Corporate Finance Division
Fuji Xerox Co., Ltd.
Katsuyuki Tokushima
Head of Pension Research
NLI Research Institute
Moderator
Eriko Kato
Private Fund Management Department
Deputy General Manager
Mitsubishi Jisho Investment Advisors,Inc.
Break (15:05 – 15:25)
Session 4 : Ideas to Improve Long-term Returns in Pension Portfolios by Controlling Risk in Uncertain Environments
15:25 – 15:55
Keynote Speech 1
(Im)patience- How and Why to Encourage Patient Investing
This presentation addresses behavioral biases that tempt many investors into allocation decisions that may harm long-term prospects. It illustrates the causes and consequences of impatient investing and performance chasing, and suggests possible remedies against it.
Michinori Kanokogi, CFA
Portfolio Manager
AQR International Ltd. Tokyo Branch
15:55 – 16:25
Keynote Speech 2
Multi-Sector Fixed Income and Low-Volatility Equity Investment in Uncertain Environments
Pension fund managers face the twin objectives of controlling downside risk while striving to improve long-term asset value. This session introduces effective investment methods to achieve both objectives.
Benjamin D. Treacy, CFA
Institutional Portfolio Manager
Fidelity Investments
Sean Walker
Institutional Portfolio Manager
Fidelity Investments
16:25 – 17:25
Panel Discussion
Amid heightened market volatility, pension funds seeking more robust investment performances are looking at strategies aimed at improving long-term returns by reducing drawdowns in down markets. The panel will discuss what investors expect from asset managers, especially in view of pension portfolios’ requirements.
PANELISTS
Takeshi Ito
Chief Operating Officer & Senior Investment Officer
AISIN Employees’ Pension Fund
Hisae Sato
Chief Investment Officer
Nissan Motor Co., Ltd
Sammy Suzuki
Co-Chief Investment Officer
AB Strategic Core Equities
AllianceBernstein L.P.
Moderator
Akiko Imafuku
Managing Director
Daiwa Fund Consulting Co.Ltd.
Cocktail Reception (17:35 – )

November 13 (Wed), 2019
*simultaneous interpretation (Japanese-English) is provided.

TIME PROGRAM SPEAKER
9:00 – 9:05
Opening Remarks
Tsuneo Taguchi
Senior Executive Advisor
Fiduciary Service Research Center
Nomura Securities Co., Ltd.
Session 5 : Re-examining and Redefining the Roles of Fixed Income Investment in Pension Fund Portfolios
9:05 – 09:35
Keynote Speech
Innovation in Fixed Income Investing? Re-examining the Role of Fixed Income Portfolios
The low-yielding environment has produced unprecedented hunt for yield, driving down spreads as well as yield. It is clear that, in times of market downturn, excessive risk-taking can significantly erode returns. Faced with potential headwinds ahead, we would like to re-examine the role of fixed income and future investment strategies.
Keiyo Hanamura
Investment specialist
Capital International K.K.
9:35 – 10:35
Panel Discussion
Generating attractive returns from fixed income investments is becoming ever-more challenging under the current low interest rate environment. Asset owners and investment managers are propelled to think creatively in search of sources of return. This panel discussion will re-examine the roles of fixed income in pension fund portfolios. It will also discuss different ideas that can help achieve investment objectives going forward.
PANELISTS
Naomi Fink
Academic research specialist
Capital Group
Tony Gould, CFA
Managing Director
AQR Capital Management
Hiroyuki Hashizume
Manager
Finance Team Finance Dept
Osaka Gas Co., Ltd.
Hiroshi Yokotani, CMA
Portfolio Strategy and Business Management (APAC)
State Street Global Advisors (Japan) Co., Ltd.
Moderator
Daisuke Aoki, CFA, CMA
Senior Consultant Investment Consulting,
Mercer Japan Ltd.
Break (10:35 – 10:45)
Session 6 : Potential ESG Integration - Approaches in Passive and Active Management
10:45 – 11:15
Keynote Speech
ESG Integration for Passive Managers: Opportunities and Challenges
ESG and Stewardship are often associated with active management. However, for broader integration, it is important to consider the passive investment perspective. In this session, the speaker will explain how ESG/Stewardship is ideally applied in the rapidly growing passive investment space, as well as its challenges.
Kensuke Niihara
Managing Director
Chief Investment Officer - Japan
State Street Global Advisors (Japan) Co., Ltd.
11:15 – 12:15
Panel Discussion
Amid growing interest in ESG integration, issues related to how pension-fund managers can incorporate it within their fiduciary responsibility are rising. In this panel, practitioners examine approaches to reconciling fiduciary responsibility while integrating ESG factors in portfolios.
PANELISTS
David J. Holmgren
Chief Investment Officer
Hartford HealthCare
Yasuyuki Kato
Director, Money Design Research Institute
Research Professor, Tokyo Metropolitan University
Visiting Professor, Kyoto University
Hiroki Sampei
Head of Engagement
Fidelity International
Moderator
Akiko Tagami
Senior Consultant,
Consulting Department No.3
Mizuho Research Institute Ltd.
Lunch Break (12:15 – 12:55)
Session 7 : Portfolio Improvement by Factor Analysis
12:55 – 13:25
Keynote Speech
Risk Analysis Based on Factors and Its Implementation
We will present a framework for portfolio analysis through the lens of a factor-based approach and give examples on the implementation of the solutions in the portfolio of advanced pension funds.
Duy Nguyen
Chief Investment Officer
Investment Solutions,
Invesco
13:25 – 14:25
Panel Discussion
We will discuss how to use factor-based approaches in portfolio analysis and its implementation not only for traditional assets, but also for alternative assets. Each consulting company will provide examples and will derive concrete implications for pension portfolio management.
PANELISTS
Tomoya Goto
Head of Wealth Consulting
Mercer Japan Ltd.
Shinji Kanetake
Chief Analyst,
Asset Management Consulting Dept.,
Rating and Investment Information, Inc. (R&I)
Daisuke Kobayashi
Senior Consultant
Fiduciary Management Department
Fiduciary Service Research Center,
Nomura Securities Co., Ltd.
Moderator
Shu Irikura
Head of Japan Client Solutions
Invesco Asset Management (Japan) Limited
Break (14:25 – 14:45)
Session 8 : Advantages and Opportunities of Investing in Private Assets
14:45 – 15:15
Keynote Speech
Better Partnerships Lead to Better Outcomes
Get an up-close look at how Hartford HealthCare increased its returns and lowered its costs by focusing on manager partnerships (as opposed to simply manager selections), including some case study examples of improved outcomes.
David J. Holmgren
Chief Investment Officer
Hartford HealthCare
15:15 – 16:15
Panel Discussion
On the backdrop of low interest rates and headwinds ahead in the markets globally, opportunities to invest in private assets are expanding. This will be an active discussion on investment opportunities and advantages especially in middle-small markets of private assets (PE and PD) among asset managers and asset owner.
PANELISTS
Shuji Hatsukaiwa
Alternatives Director,
Product Management
Schroder Investment Management
Ken Kuga
Head of Investor Relations,
Angelo, Gordon International LLC
Akiyo Omori
Senior Manager,
Finance Department, Accounting & Finance Division
Nippon Steel Corporation
Moderator
Shinichi Nishisako
Senior Consultant
Fiduciary Management Department
Fiduciary Service Research Center
Nomura Securities Co., Ltd.
Break (16:15 – 16:25)
Session 9 : The Future of Public Pension Investing and Corporate Pension Investing
16:25 – 17:25
Panel Discussion
As interest in both public and corporate pensions grow, it is a good opportunity to discuss various aspects of pension management today. This panel invites influential asset owners and a representative of the asset management industry to share their current pension management challenges and discusses the future of pension management. In particular, pension governance, policy asset mix, performance evaluation, ESG investments, and alternative investments will be addressed.
PANELISTS
Masataka Miyazono
President
Pension Fund Association
Akiyoshi Oba
Chairman
Japan Investment Advisers Association
Moderator
Seiji Ogishima
Managing Director
Head of Fiduciary Management Department
Fiduciary Service Research Center
Nomura Securities Co., Ltd.
17:25 – 17:35
Closing Remarks
Christopher J. Battaglia
Vice President and Group Publisher,
Pensions & Investments
Cocktail Reception (17:45 – )
Daikagura - performed by Ichifuji

The Japanese traditional performance group, “Ichifuji” will show you the exciting stage that
can be enjoyed by both watching and listening. “Ichifuji” is composed of Tsugaru Shamisen, Japanese drums, folk songs, and Daikagura.
A powerful performance by the expert member in each filed will touch your soul.
Website of Kagami Michiyo, representive from ”Ichifuji”.
http://kagamimichiyo.jp/

Daikagura - performed by Ichifuji

Disclaimer

All registration requests are subject to verification. P&I reserves the right to refuse any registrations not meeting our qualifications. The agenda for the Global Pension Symposium is not created, written or produced by the editors of Pensions & Investments, and does not represent the views or opinions of the publication or its parent company, Crain Communications, Inc.

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