KEYNOTE ADDRESS: Investor Behaviour

Professor Odean will discuss his research on how psychological biases and decision heuristics affect the trading of individual investors and the impact of this trading on investor welfare and market efficiency. He will also discuss recent research on defined contribution savings and investment behavior and how this will affect the market for Canadian Pension Plan Sponsors and their portfolios.

Speaker:
Terrance Odean, Willis H. Booth Professor of Banking and Finance,
Haas School of Business, University of California, Berkeley
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Networking Coffee Break

Session 2:

Global Insights and Lessons Learned

2A: Why global? Adding Value through Integrated Global Equity Portfolios

Despite strong performance from domestic equities, many Canadian defined contribution plan sponsors have acknowledged the potential long-term benefits of foreign exposure and are seeking compelling global and international equity investment options for plan participants. Mike Cantara, an Institutional Portfolio Manager at MFS Investment Management, discusses the merits of foreign exposure and presents considerations for adopting an international (global ex-home country) or global approach to asset allocation.

Speaker:
Michael Cantara, Institutional Product Manager, MFS Investment Management
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2B: The U.S. DC Market - A Case Study for the Canadian Retirement Industry

This presentation will provide an overview of the US DC Retirement Industry past and present with a brief look to the future and then highlight those things that a plan sponsor can directly control or influence – Plan Design, Plan Operating Costs, and Regulations.

Speaker:
Gary R. Conway, Vice-President, State Street Global Advisors
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Session 3:

What Investment Options do CAP Members Really Need? A Common Sense Approach

This session overviews several key approaches plan sponsors employ in the development of an investment fund line up for their capital accumulation plans. David Lester will highlight the different investment decisions facing a plan member, and will frame the decision-making process in the context of a typical plan participant. Specifically, the presenter will explore the benefit of embedding different investment decisions within an investment option itself, rather than leaving these decisions for the member to address alone.

Speaker:
David Lester, Director, National Accounts, SEI
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Session 4:

Target Date Funds

4A: Not All Target Date Solutions Are Created Alike: Key Considerations for Your Plan
Target date investment solutions have grown in popularity over recent years. The structure and predictability of these programs have simplified retirement planning for plan sponsors and their employees. With this growth, it is important to evaluate these options to ensure that employees have complete investment solutions that are tailored to their retirement needs. But not all target date plans are created equal. In this session, you will learn about key investment considerations for evaluating target date solutions, including active vs. passive management techniques, proprietary vs. non-proprietary funds, fee considerations, implementation/administration issues and risk management strategies. Such factors will aid your due diligence efforts in an increasingly crowded target date market.

Speaker:
Stephen Lingard, Vice-President and Portfolio Manager, Franklin Templeton Managed Investment Solutions
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4B: The Role of Target Date Funds in a Defined Contribution Portfolio
Defined contribution plan sponsors are increasingly recognizing that target date funds can have a positive impact on members’ investment outcomes. This session will discuss how DC plan sponsors can maximize the use of target date funds in their plan portfolios, including asset allocation design considerations for different demographics and the use of target date funds as the default fund. It will also look at the potential advantages and disadvantages, the prevalence of target date funds in the DC marketplace and trends for the future.

Speaker:
Karen Sesin, Senior Portfolio Manager, Blend Strategies, AllianceBernstein
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Session 5:

Reducing Risk When Transitioning to Retirement

While retirement may conjure up thoughts of a leisurely lifestyle filled with travel, golf or spending time with family, more workers are beginning to wonder whether they'll be able to realize their post-employment dreams. Some may even worry that they will not be able to afford to retire. In certain cases, this concern may be well-founded. Retirement income can be affected by a host of factors, all of which put the adequacy of retirement income at risk. This presentation will look at what those risks are, examine current vehicles that can be used to transition from retirement savings to retirement income, as well as explore what risk-minimizing products and strategies may be on the horizon to guarantee income till death.

Speaker:
Zaheed Jiwani, Consultant, Hewitt Associates
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