Institutional Investor Fund Workshop

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2 Institutional Investor Fund Workshop 8-9 October 2015 Pennyhill Park Hotel, Surrey Practical approaches and new insights in the manager selection process Institutional Investor s Fund Workshop is not your typical conference. It is a series of small discussion groups in which everybody is invited to participate. It offers you a time-efficient way to gain in-depth insights into investment ideas offering steady returns in this on-going low yield environment. Sponsor Firms Janus Capital Investment Group Advisory Panel Carlo Farina, Head of External Selection, CERN Pension Fund, Switzerland Richard Saunders, Investment Manager, Church Commissioners for England, UK Lars Wallberg, Chief Financial Officer, LD Pension, Denmark Craig Heron, Investment Manager, RPMI Railpen, UK Tony Murray, Pensions Manager, Coras Iompair Eireann-CIE, Ireland Robbie Martin, Investment Analyst, SAUL Trustee Company, UK Opkar Sara, Head of Investment Strategy, BP Investment Management Ltd, UK Gareth, Senior Investment Manager, Canopius Holdings UK Limited, UK Douglas Clark, Principal, Portfolio Management, BT Pension Scheme Management, UK

3 Agenda Thursday 8 th October Registration 08:30 09:30 ASSET OWNER-ONLY BREAKFAST DISCUSSION This private and confidential session is a closed discussion for asset owners only. The agenda will be set by participating investors shortly before the event so that the topics are timely and relevant. It allows you to share experiences, ideas and methodology across different funds Welcome and Introduction Alex Beveridge Director Institutional Investor PLC WHY ARE PENSION FUNDS SO BAD AT SELECTING MANAGERS? Presentation/case study Despite spending a great deal of time and energy on the fund selection process, many asset owners have demonstrated an uncanny ability to pick winners just as they become losers, or sack losers just as they regain form. This case study will take an unflinching look at some of the reasons why these errors keep repeating themselves. Craig Heron Investment Manager RPMI Railpen

4 Workshops For the Workshops, delegates will be split into five groups of 6-7 investors. Workshop leaders will introduce their topic in a min presentation followed by a discussion. After each workshop asset owners have five minutes to discuss what they thought about the topic and evaluate the workshop. Time Group 1 Group 2 Group 3 Group 4 Group Coffee Break :

5 13.10 Lunch Time Group 1 Group 2 Group 3 Group 4 Group Coffee Break Activities and Cocktails Our evening activities will provide the possibility to continue the discussions of the day in the informal and beautiful setting of the old manor house.

6 18.30 Dinner Pennyhill Park Hotel, Surrey Friday, 9 th October BENCHMARKING PRIVATE EQUITY PERFORMANCE Presentation and workshop Benchmarking any illiquid asset can be challenging, but private equity investments offer their unique problems. Given the increasing importance of private equity in modern pension fund portfolios, what are some of the ways this issue can be dealt with? This session will be hosted by the CERN pension fund a serial investor in private equity funds. Carlo Farina Head of External Selection CERN Pension Fund Switzerland WHAT WE LEARNED AWARDING 5.5BN TO 9 MANAGERS ACROSS A RANGE OF ASSET CLASSES Workshop Last year the LD pension fund awarded nine mandates, worth a total of 5.5bn across a range of asset classes. This session will explore some of the lessons they learned in the manager selection process, what to look out for and how to make sure you cover the available universe. Lars Wallberg Chief Financial Officer LD Pension Denmark COFFEE BREAK ORGANISING A MANAGER SELECTION TEAM Case Study This case study will focus on the BT Pension Scheme s approach to selecting managers and how it organises this activity. How does manager selection fit within the wider investment team, how are asset class responsibilities divided and where do new ideas come from? In an ever growing universe of investment as well as challenges, how does the

7 team think about topical issues such as manager fees, smart beta and selection of managers across both traditional and asset classes? Doug Clark Principal, Portfolio Management BT Pension Scheme Management UK ASSET OWNER ONLY DEBRIEF Informal discussion A chance for the attending asset owners to compare notes from the event. Which asset managers and strategies impressed the most? What were the key take aways for delegates, and what else have you learned from your peers and the attending managers LUNCH CHAMPAGNE TASTING Informal discussion A chance for both the Asset Managers and Asset owners to unwind with some fine champagne END OF FUND WORKSHOP