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14August
August 14, 2017 - August 16, 2017 Bayview Eden Melbourne, Australia

Best Practices to Achieve Unit Pricing Operational Process Optimistation, Improving Efficiency & Reducing Risks.

14th August 2017 - Day 1

08:20 – Registration

Participants registration and refreshments.

08:55 – Welcome address

Chairman’s address to the gathering.

  • Kyle Ringrose, Principal Athena IOC Pty Ltd

09:00 – Session 1: The guide to good practice – Reflections on experiences since 2008

  • Is the Guide still the benchmark for good practice
  • Positive and not so positive feedback
  • Adoption overseas
  • Key learning’s from the regulator’s perspective
  • Do we need an updated Guide
  • Plans for a new addition

Speaker:

  • Craig Roodt, Head of Investment Risk, APRA

09:30 – Session 2: ROUND TABLE DISCUSSION: Are we growing complacent?

  • The spate of unit pricing errors a few years ago has subsided – are we going to take our eye off the ball?
  • What is the risk of unit pricing becoming the forgotten critical risk it was in the early 2000s?
  • What steps do we need to take to address this risk?
  • Is there any evidence to suggest the risk may reemerge?

Panel Chair:

Kyle Ringrose, Principal Athena IOC Pty Ltd 

Panel Members:

  • Craig Roodt, Head of investment Risk, APRA
  • Ricky Notorangelo, Head of Policy Services, Asset Servicing, NAB
  • James Oliver, Partner, Financial Services Advisory ,Deloitte Touche Tohmatsu
  • Paul Toepfer, Chief Operating Officer, State Street Australia Limited

10:10 – Session 3: How to attract and retain high quality unit pricing analysts

  • The key criteria for evaluating applicants
  • What to look for in the interview
  • How to assess relevant past experience
  • How to promote the critical importance of the unit pricing role
  • What research tells us the most successful managers are doing

Speaker:

  • Kyle Ringrose, Athena IOC, Principal

10:50 – Tea break

Refreshments and Networking opportunity for participants.

11:20 – Session 4: The big debate - Insourcing or outsourcing unit pricing – The pros and cons

  • What are the increased risks with insourcing?
  • Are custodian fees competitive with the insourced model?
  • Is insourcing more flexible?
  • Does the unit pricing system have to be integral with the accounting data?
  • Is insourcing a genuine option for smaller funds
  • Is the solution the same regardless of size and complexity?
  • Panel Chair:Kyle Ringrose, Principal Athena IOC Pty Ltd Panel Members:

    Ricky Notorangelo, Head of Policy Services, Asset Servicing, NAB

    Hayley Zhu, Business Development Manager Milestone Group Australia

12:00 – Session 5: HOW DOES BLOCK CHAIN & ROBOTICS IMPACT UNIT PRICING

  • HOW DOES BLOCK CHAIN & ROBOTICS IMPACT UNIT PRICING

Speaker: Paul Toepfer, Chief Operating Officer, State Street Australia Limited

12:30 – Lunch break

Lunch and Networking opportunity for participants.

13:30 – Session 6: TAX PROVISIONS – ARE WE MAKING IT TOO HARD

• Why we will never get it right
• If we can never get it right why do we keep putting so much effort into it?
• Is accuracy really only spurious accuracy?
• Is there actually a simple solution that we never even thought of?

Speaker: Stuart Hill, Head of Investment Operations, Local Government Super

 

13:30 – Session 6: ROUND TABLE DISCUSSION: Tax provisioning – Who are the winners and losers

  • Are we paying too much trying to achieve the holy grail?
  • What’s in it for the unit holders?
  • Who are the real winners from all the complexity?
  • What are the risks of adopting a simple model?
  • How could this be presented to the Board?

Panel Chair:

  • Kyle Ringrose, Principal, Athena IOC

Panel members:

  • Raewyn Williams, Managing Director – Research, Parametric
  • Stuart Hill, Head of Investment Operations, Local Government Super
  • Dana Fleming, Australian Funds Sector Leader-Tax at KPMG

14:10 – Session 7: Tax deferral – Does it all come out in the wash?

  • Which parts of an investment strategy can provide permanent tax benefits, and which can provide timing benefits?
  • How much should we care about the difference between the two?
  • Don’t be fooled: how tax timing benefits can provide permanent benefits to super fund members
  • The numbers don’t lie: Modelling permanent versus timing tax benefits.

Speaker:

  • Raewyn Williams, Managing Director – Research, Parametric

14:40 – Tea break

Refreshments and Networking opportunity for participants.

15:10 – Session 8: The profile of unit pricing within an entity

  • Are the risks genuinely understood?
  • Is an enterprise-wide risk register really appropriate for the unit pricing team?
  • How to raise awareness of the risks and complexities of unit pricing
  • Why policies should approved by the Board and understood by the Executive team

Speaker:

  • Sean McGing, Director, McGing Advisory & Actuarial

15:40 – Session 9: Why the unit price will never reconcile to fund performance

  • The impact of tax and fees
  • The impact of assumptions about beginning or end of day cash flows on performance
  • The impact on tax provisions as members’ transition to pensions
  • What is the cost and benefit to members of conservative tax provisioning
  • The impact of performance fees on unit price

Speaker:

16:10 – Session 10: ROUND TABLE DISCUSSION - WHY THE UNIT PRICE WILL NEVER RECONCILE TO FUND PERFORMANCE

• The impact of tax and fees
• The impact of assumptions about beginning or end of day cash flows on performance
• The impact on tax provisions as members’ transition to pensions
• What is the cost and benefit to members of conservative tax provisioning
• The impact of performance fees on unit price

Kyle Ringrose, Principal Athena IOC Pty Ltd

16:45 – End of Day 1

  • Closing remarks from the Chair and vote of thanks by the Chairman
  • Drinks and networking reception

Attendee Information

 

Interested in speaking?

 

Unit Pricing Forum 2017 offers sponsors an excellent opportunity to demonstrate thought-leadership and leverage networking opportunities to build brand-value amongst senior unit pricing professionals.

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