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From

04 June 2019 09:30

To

14:00

Venue

BFI Stephen Street
21 Stephen Street, Fitzrovia, London, W1T 1LN, England, United Kingdom
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Alternative Sources of Income Investment Focus

How do you generate income this year and in future years? Especially important if your pension fund is cashflow negative. Perhaps one of the most asked questions we’ve heard from pension funds this year.

With interest rates still languishing at historical lows, one of the biggest challenges for pension funds is how to generate income. In this morning educational Investment Focus, we will hear from four leading managers about their approaches on how to generate reliable income streams from an investment portfolio. Over the course of the morning, delegates will breakout into small groups and participate in these interactive presentations.

This unique half day workshop is Accredited by the Pensions Management Institute and is open to pension funds and their advisors.

Program

Time Description
09:30

Registration, Tea and Coffee

10:00

Welcome Address & Introductions

Stuart Breyer, CEO of mallowstreet
10:05

Rotating Investment Masterclass I: Private Credit as an Alternative Source of Income Barry Fricke, Global Head of Private Credit | Aberdeen Standard Investments

The private credit landscape is growing rapidly. This presents investors with an increasing range of opportunities for income, but brings with it significant challenges around prioritisation and governance. Which areas offer a sufficient illiquidity premium, genuine diversification, and are adequately developed for institutional investment? We will look at current market characteristics across sectors and geographies, and discuss the pros and cons of investing in private credit using a multi-sector approach.
10:50

Rotating Investment Masterclass II: Cashflow Driven Investing and the Illiquidity Premium Nikhil Chandra, Investment Strategist | Aviva Investors

As an insurance owned asset manager Aviva Investors has been at the forefront of developing Cashflow Driven Investment (CDI) strategies for its clients. Utilising a variety of secure income assets across the public and private credit space enables clients to meet their cashflow requirements and reduce the expected range of outcomes. There are challenges to this approach and this session will focus on the dynamics of the illiquidity premium, how this can influence a CDI strategy and emphasise the importance of a holistic approach that also utilises the LDI strategy.
11:35

Coffee, Tea and Networking

11:55

Rotating Investment Masterclass III: Equities as a predictable and reliable source of income – Epoch Investment Partners Scott Weisenberger, Managing Director, Global Portfolio Management, Epoch Investment Partners

The number of cash flow negative pension funds in the UK has grown and this trend is set to continue. Our presentation will discuss why we think equities should be considered as a reliable source of income. We will discuss the pros and cons of other income bearing asset classes; both those used historically (fixed income) and the alternatives asset classes gaining momentum currently such as infrastructure and private debt and compare these to equity investing. We will also discuss the characteristics and controls you need in a global equity income strategy in order to achieve the desired levels of income predictability and consistency with reference to Epoch's global equity income fund.
12:40

Rotating Investment Masterclass IV: mallowstreet Research Collaboration Session Stuart Breyer and David Scholtz

In this interactive session, we will present some key findings from a recent mallowstreet Insights research report. As part of this session, we will lead a discussion on alternative income and private markets, helping us to understand some of the burning questions pension funds are asking.
13:20

Lunch and Networking

14:00

End

Speakers

  • Scott Weisenberger
    Scott is a member of Epoch’s client portfolio management team and is also involved in client relationship management. Prior to joining Epoch in 2017, Scott was the Chief Executive Officer of ICAP, where he set business strategy, made key operating decisions, and chaired the firm’s Senior Leadership Committee. Before he joined ICAP, Scott served as a Managing Director for Merrill Lynch and was responsible for advising large institutional asset managers in a broad range of global equity products. Earlier in his career Scott also held positions at Drexel Burnham and Oppenheimer. He earned a BA from the University of Wisconsin-LaCrosse and an MBA from the University of Wisconsin-Madison.
  • Nikhil Chandra

    Nikhil is responsible for designing and delivering investment strategies to meet investors’ specific objectives. In particular, he focusses on alternative income solutions. He works closely with colleagues across a wide range of functions including portfolio management, business development, operations and legal.

    Experience and qualifications:

    Prior to joining Aviva, Nikhil most recently worked for a London-based family office, where he was responsible for direct investments in public and private equity, real estate, and credit investments across the capital structure. Prior to the family office, Nikhil was a senior investment professional at a special situations hedge fund, with a focus on turnaround, distressed, and event-driven opportunities. He began his career at McKinsey & Co and then Deutsche Bank’s Distressed Products Group.

    Nikhil holds an A.B. in Economics from Harvard College, an MBA from Wharton School of Business, and an MPhil in Linguistics from Cambridge University.

  • Barry Fricke

    Barry Fricke is Global Head of Private Credit, Product & Client Solutions at Aberdeen Standard Investments. He represents the private credit capabilities of the firm, developing new and customised investment solutions for clients globally. Prior to joining Aberdeen Standard Investments in April 2017 he was an Executive Director at Goldman Sachs for eight years, based at various stages out of London and New York, advising on and managing private credit and alternative investment portfolios. He started his career at JP Morgan, working on investment strategy and portfolio construction. Barry holds an MA in Philosophy from the University of London, Birkbeck, an MSc in Electrical Engineering from the University of the Witwatersrand (Johannesburg), and a BEng in Electronic Engineering from the University of Pretoria. He is a CFA charterholder and holds the Certificate in Quantitative Finance. Barry is a Fellow of the Royal Society of the Arts.