mallowstreet University Dinner: Tackling the 'cash flow negative' challenge

Sponsored by

Janus Henderson Investors

Improving Members’ Outcomes Through Better Diversification in Fixed Income

DC investment design is facing new investment challenges. Recent market turbulence caused in part by rising inflation and a higher interest rate trajectory has particularly exposed DC fixed income allocations to material losses and significant volatility. As assets used most often for their ability to reduce drawdown risk and volatility of members savings, we believe a review is needed into how best to meet this goal within the fixed income universe.

During this session we will discuss what’s driving recent headwinds and how this has impacted traditional fixed markets prevalent in DC. We will then introduce the role that Asset Backed Securities could play in complementing traditional fixed income to better serve DC members interests in the years leading up to (and indeed in) retirement.

About Janus Henderson Investors

Connections enable strong relationships with clients based on trust and insight as well as the flow of ideas among our investment teams and our engagement with companies, all of which allow us to make a positive difference. These connections are central to our values as a firm, to what active management stands for and to the outperformance we seek to deliver.

Janus Henderson is a global asset manager with more than 340 investment professionals* and expertise across all major asset classes. Our individual, intermediary and institutional clients span the globe and entrust us with more than £274.2bn of their assets*. Our commitment to active management offers clients the opportunity to outperform passive strategies over the course of market cycles. Through times of both market calm and growing uncertainty, our managers apply their experience weighing risk versus reward potential – seeking to ensure clients are on the right side of change.

Our investment teams and their approaches are shaped with the client in mind. Products are developed to meet evolving needs, and investment managers operate within clearly articulated parameters as they seek to achieve stated or agreed upon objectives. Transparency of process, positioning and progress towards meeting objectives are central to our approach, and our investment and distribution teams seek to keep clients informed at every stage.

We offer expertise across all major asset classes, with investment teams situated around the world. Janus Henderson's capabilities are grouped under five headings, and more information can be found on our websites globally.

*Source: Janus Henderson Investors, as at 31 March 2022. AUM data excludes Exchange-Traded Note (‘ETN’) assets.

mallowstreet University Dinner: Tackling the 'cash flow negative' challenge

With a maturing UK defined benefit (DB) pensions landscape, schemes are moving from the accumulation phase to the decumulation phase as benefit payments become larger than contributions. This in turn requires a focus for pensions schemes to think about generating cash flow, not just income.

In this session, Colin Fleury will look at how a multi-sector fixed income portfolio can be structured to meet short-term cash flows, and earn an attractive level of return by building a diversified portfolio that is structured to generate regular cashflows from both coupon payments and capital redemption/maturity proceeds.

Speakers

Colin Fleury Head of Secured Credit
Colin Fleury is Head of Secured Credit at Janus Henderson Investors. He is also a Fund Manager on the Global Diversified Credit strategy. Prior to joining Henderson in 2007, Colin held secured credit portfolio management roles at Deutsche Bank AG and Abbey National Treasury Services plc. He also has secured debt structuring, underwriting and advisory expertise from roles at Shell International, where he was a senior advisor on the M&A and financing team and as a vice president in the global project finance group of Credit Suisse. Colin's early career also included secured UK real estate and SME corporate lending. His experience spans multiple jurisdictions in Europe and worldwide. Colin is an associate of the chartered institute of bankers and a graduate of the Credit Suisse Corporate Finance and Capital Markets Program. He has 31 years of financial industry experience.

Program

6:30 PM Guest arrival

Welcome drinks
7:00 PM Seated for dinner
9:00 PM End

mallowstreet University Dinner: Tackling the 'cash flow negative' challenge

Speakers

Program

6:30 PM Guest arrival

7:00 PM Seated for dinner

9:00 PM End