We're back by popular demand! mallowstreet is returning to Edinburgh for our first roadshow of 2014 and this time we'll be taking a look at Sources of Growth & Yield.
Across mallowstreet, and the
broader pensions industry, there has been considerable discussion about asset
classes that provide opportunities for Growth and/or sources of Yield. In the
current economic environment, where government bonds no longer provide the
yield they once did, and traditional asset classes don’t always produce
adequate returns, how can pension funds find opportunities to combat inflation
or close their deficit? During this afternoon interactive workshop we'll be setting the scene with an economic outlook and then examining two opportunities that offer potential sources of growth and/or yield. We're also hosting a drinks reception for our community members north of the border afterwards to put the icing on the cake!
This event is FREE to attend for pension fund decision makers and their advisors. Register below and we'll endeavour to confirm your place shortly.
Speakers
Click the images below to learn more about our speakers
Marcus Palmer
Marcus is Head of Real Estate Debt, Hermes Real Estate Investment Management Ltd Marcus joined Hermes in June 2013 as Head of the UK real estate debt investment programme. With 18+ years senior management experience in major UK investment and commercial banks (Barclays Capital and RBS) and Government Agency (National Asset Management Agency 'NAMA'), Marcus has significant experience in UK and European asset backed and corporate transactions across debt origination, structuring, credit and portfolio management. With expertise in both debt and capital markets, Marcus has been responsible for managing in excess of £15bn of commercial real estate debt exposure.
Stuart Steven
Stuart Steven has been involved in managing
multi-currency fixed income portfolios for over 21 years, with experience in
managing teams and marketing fixed income funds. He has an additional 5 years’
related investment experience. He joined Alliance Trust in December 2009 and is
Co-Fund Manager of Alliance Trust Monthly Income Bond Fund. Following a period
in industry, Stuart joined Britannic Asset Management in 1994 and became Head
of Corporate Bonds with responsibility for managing investment grade portfolios
for retail and institutional funds. In 2000 he joined Legal & General as
Director, Corporate Bonds where, until 2006, he managed a highly successful
team of credit specialists managing multi-currency assets. He joined Scottish
Widows Investment Partnership in 2008 as Investment Director, managing a number
of funds, including investment grade and & absolute return funds.
Dominic Byrne
Dominic Byrne, CAIA, Director and Lead Investment Strategist for EMEA Retirement Solutions, is responsible for developing, assembling and managing investment solutions involving multiple strategies and asset classes.
Mr Byrne is the lead strategist for multi-asset retirement strategies in EMEA covering diversified growth, factor portfolios and target date investment strategies. As part of this role he is the lead Investment Strategist for BlackRock's Lifetime Asset Allocation platform in EMEA which includes the LifePath complex.
Mr Byrne has spent over 10 years of his career in product strategy roles where he was responsible for developing active multi-asset products and positioning these products both internally and externally.
Prior to joining BlackRock in 2007, Mr. Byrne spent three years at American Express Bank, most recently as an investment specialist with the Global Wealth Management group. Mr. Byrne earned a BA degree from the University of Durham in 2003.
Mr. Byrne earned a BA degree from the University of Durham in 2003.
Program
Arrival at Dovecot Studios
Registration and Check In
The Search for Sustainable Growth, Alliance Trust Investments
Stuart Steven, Co-Fund Manager at Alliance Trust Monthly Income Bond Fund, believes that investors today are facing a number of challenges regarding asset allocation and balancing the need for investment returns with appropriate risk controls. This session will examine how investors can find an attractive rate of total return with low volatility, regardless of market or economic cycles, with significantly lower levels of risk than either bond or equity markets.
Real Estate Debt, Hermes Real Estate Investment Management
Marcus Palmer, Head of Real Estate Debt, will discuss the historic dominance of banks in financing UK commercial real estate, ongoing funding challenges of bank deleveraging and increased regulation, structural changes underway in how real estate is funded, and the attractive risk-reward profile of this asset class as an alternative to equivalent risked corporate bonds.
Afternoon Tea and Networking
The Search for Capital Growth In Equities, Standard Life Investments
Dominic Byrne, an Investment Director, will discuss the belief that the more the average stock market investor is driven by top-down, macro considerations, the greater is the potential informational advantage presented to a bottom-up stock picker. This session will consider why taking a non-consensus view is the most effective way to ‘beat the market’ and discuss global stock selection alpha as the most consistent source of investment returns.
Round Table Group Discussion
In this session, we will pick up themes from the day, and put questions to the presenters – including questions posted online from the mallowstreet community.
