Challenging Conventional Wisdom; Redefining Investment Management
Can we begin to ‘Think Different’ to Better Align Investments with Objectives?
“Think Different” was the popular Apple Computer campaign ad slogan and campaign two decades ago that featured iconic historical figures and promoted the idea that Apple was a unique company with unique products.
For institutions today, thinking differently is arguably being replaced with the idea that economic growth will continue without interruption, that unsustainable debt can be disregarded and that high asset valuations can be overlooked. The sensible course, then, is to stay fully invested in financial assets tacitly imbedded with leverage.
But to consistently produce positive risk-adjusted real returns over time, rather than rely on a benchmark based on relative performance, rigidity must be supplanted with flexibility. For fiduciaries with beneficiaries to consider, relying on relative performance will never be enough.
Replacing rigidity with suppleness requires challenging conventional wisdom, reevaluating existing investment frameworks and considering the full menu of asset classes, traditional as well as alternative, and fundamental as well as quantitative-based investments, and passive as well as active approaches. It means overseeing portfolios with a modern risk management construct, a robust and adaptable governance structure that allows for opportunistic decision-making, and a management philosophy open to considering a variety of opinions and ideas.
The 11th Annual Global Pension Symposium will explore how these concepts can be more responsive in meeting the recognized challenges related to high valuations, aging demographics, untenable debt loads, an unstable geopolitical environment and unrest linked to social disparity.
We will evaluate the assumptions that lead to following conventional wisdom and discuss how to challenge them on the road to redefining investment management, seeking along the way to identify how pension fiduciaries can be assured of meeting their primary objective: to align their investments with the best interests of their beneficiaries.
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.