I spent the past 48 hours at mallowstreet’s inaugural Local Government Pension Fund (LGPS) Congress. It was wonderful to meet so many new people, discuss the challenges you are facing, and build new relationships.  

 

It was a packed agenda and I learned a lot – here’s a quick of what we covered:

 

·        Charlie Robertson, Head of Macro-Strategy at FIM Partners, kicked us off with a gentle rush through 350 years of economic history (and gave us his 50 years forecast!) to show why education, electricity and low birth rates are key for low-income countries to achieve higher economic growth.

·        Leandros Kalisperas, CIO West Yorkshire Pension Fund, reflected on his experience in leading large in-house DB, outsourced CIO and now LGPS teams to try and answer the question of what works – and what doesn't.

·        Mike Weston, Independent Trustee at Pi Partnership, discussed the developments which are likely to impact local authority schemes, including: Consolidation, Politicisation, Professionalisation, and Conservation (otherwise known as ESG).

·        Our panel picked up the conversation and had a wide-ranging discussion around the recent government LGPS consultation and shared how their investment strategies are evolving. 

·        Priya Lakhani explained the importance of integrating data strategy and AI seamlessly into workflows. She also addressed how companies can leverage AI to unlock potential, improve decision-making, increase efficiency and create a more robust bottom line.

·        Dawid Konotey-Ahulu gave a powerful talk about recent work he’s been doing with prisoners. There are 80,000 men in the justice system. Some have committed serious offences and will be in jail for decades. They leave their cell for an hour a day. Many have serious mental health issues and suicide is a constant threat. But learning to tell their story with vulnerability and a sense of purpose, is a game changer. A path back. Redemption.

·        Tim Gregory gave a spellbinding talk on nuclear waste. The world needs reliable, carbon-free energy. Nuclear power can fulfil those needs. But nuclear waste — which remains hazardous for hundreds of millennia — is often touted as a reason not to pursue a nuclear-powered future. However, emerging technologies cast this waste in a new light, up-cycling it to power cities, cure cancers, and take us into deep space.

Interspersed with these keynote talks we had eight world class managers presenting investment masterclass sessions:

·        Shifting the Focus Towards Secure Income (Alpha Real Capital)

·        Levelling up Private Equity (Columbia Threadneedle)

·        European Direct Lending: An Age of Opportunity (Franklin Templeton / Alcentra)

·        How UK Direct Lending can Help Address the Levelling Up Agenda (HSBC Asset Management

·        Social Investment (M&G Investments)

·        Effective Cashflow Management for LGPS in Changing Times (Pemberton)

·        Asset-based Lending – the Next Frontier of  Private Credit (PIMCO)

·        Unlocking Homeownership Opportunities: How LGPS Can Improve Risk-Adjusted Returns While Addressing the UK Housing Crisis (Wayhome)

A huge thank you to all of our speakers and everyone who attended the Congress this week. I would love to hear what your main takeaways were.