Theme: On the Road to Change

The current form of the defined benefit pension plan continues to evolve. With pension reform discussions continuing to raise concerns with plan sponsors, many are still facing significant increases in cash contribution requirements and pension expense. Over the last year, plan sponsors have attempted to aligning their assets with future liabilities and subsequently de-risking their portfolios. But does one size fit all? What direction will the DB landscape take moving forward?

Tuesday October 19, 2010

8:00 – 9:00 am                    Registration and Breakfast (Truffles)

9:00 – 9:15 am                    Opening Remarks (Regency East Ballroom)

9:15 – 9:45 am                    Session One (Regency East Ballroom)

Managing Risk Through Liability Driven Investing
The drop in funding ratios has made pension plans all too aware of the need to match their assets and liabilities and to manage risk more effectively. How can liability driven investing help pension plans to scale back their risk exposures? To what extent are plans adopting LDI approaches today, and what are the trends for the future? Finally, what are the steps to follow when implementing such strategies?
Presenter: 
Emmanuel Matte, vice-president, Standard Life Investments

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9:45 – 10:15 am                Session Two (Regency East Ballroom)

Economic Outlook: From Liquidate Everything to Whatever it Takes
Robert will provide an assessment of the global macroeconomic back-drop as 2010 winds down and provide some insights relating to the direction of capital markets as we look forward to 2011 and beyond.
Presenter:
Robert Spector, vice-president and chief economist, McLean Budden

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10:15 – 10:45 am               Networking Break (Foyer)

10:45 – 11:15 am               Session Three (Regency East Ballroom)

Strategies for Accessing Private Markets:  How do Mid-Sized Pension Plans Access and Invest in Infrastructure and Private Equity?
For institutional investors who are interested in integrating private markets opportunities into their asset mix, there are a number of key success factors to consider.  This discussion will address options available to mid-sized pension plans in infrastructure and private equity, including: strategies for building a complementary and diversified portfolio of infrastructure and private equity investments to enhance long-term returns and mitigate risk; resources and capabilities required to identify and access the best managers and co-investment transactions; dealing with the significant administrative burden of a diversified private markets portfolio; and implementing a systematic approach to building and maintaining exposure to infrastructure and private equity asset classes over time.
Presenter:
Stuart Waugh, managing partner and managing director, Northleaf Capital Partners

11:15 – 11:45 am               Session Four (Regency East Ballroom)

Emerging Markets: Is it Different This Time?
This presentation examines the role reversal that has taken place between emerging and developed markets in which many top emerging markets have manageable debt levels and favorable trade balances while many developed markets are struggling under heavy debt loads and less favorable trade balances. It will discuss the role that emerging markets have played in global economic recovery, looking at the key drivers of emerging markets economies. Finally, it will highlight strategies for taking advantage of investment opportunities in these countries through publicly traded equities, fixed income, and currency securities with consideration as to the best way for institutions to gain exposure.
Presenter:
Thomas Melendez, investment officer, MFS Investment Management

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11:45 am – 1:00 pm          Lunch Break (Truffles)

1:00 – 1:30 pm                   Session Five (Regency East Ballroom)

A Perspective on Emerging Markets
The global recession has created a difficult investment environment for pension plan sponsors, generating uncertainty about investing beyond home borders. Yet some say emerging markets offer more promise than developed markets as we emerge from this recession.   What are the macro trends impacting emerging markets and developed markets?  What are the most attractive opportunities for emerging market equities for long term investors and how are plan sponsors incorporating this asset class into their strategies.
Presenter:
Douglas Gooding, head of client portfolio management, global equities, Invesco

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1:30 – 2:00 pm                   Session Six (Regency East Ballroom)

A Brave New World
Given the significant changes to the securities lending landscape since 2008, plan sponsors have developed a greater appetite for understanding how their programs work. With this, the demands on agent lenders to provide transparency on returns and information on performance metrics have increased as well. What can beneficial owners learn from the ways of the past and how do current markets align with expectations? Has there been a shift in program participation? Has information flow changed as a result of events like Lehman Brothers?
Presenter:
Jeffrey Alexander, director capital markets, CIBC Mellon Global Securities Services Company

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2:00 – 2:45 pm                   Keynote Session (Regency East Ballroom)

Our panel of experts will talk about their experiences of running pension plans. Issues addressed in this keynote session include risk management, liability-asset matching, managing your pension committee as part of managing risk, and examples of what worked for their plans.
Panelists:
Peter Jarvis, executive director, Toronto CFA Society
Don Walcot, pension committee member
Gretchen Van Riesen, principal, GVR Consulting