- Life cycle strategies – Making sense of Life Cycle Investment options
- Life cycle strategies versus fixed allocation portfolios
- Maximising the role of unlisted assets in portfolios
- Investing for retirement: How does it differ to accumulation?
- The different asset allocations for accumulation and pension members
- Fixed income assets in a period of rising inflation
- Real Estate asset valuations
- The attractions of investing in infrastructure for the long horizon of superannuation funds
- Considering the unique return, volatility, liquidity and concentration risks of unlisted assets
- The origins of the 70/30 balanced portfolio
- Tactical asset allocation
- Currency allocations
- Strategic and tactical asset allocations
- The opportunity to reduce costs through allocation to indexed funds
- Member preferences for asset allocations
- What do the members want in their asset allocation?
Asset Allocation 2024 Speakers
Learn Speakers Of The 6th Annual Asset Allocation Strategies 2024 Forum
Associate Portfolio Manager, Investment Strategy, Aware Super
Chief Investment Officer, Asia Pacific, Morningstar Investment Management Australia
Head of Investment Strategy, Telstra Super Pty Ltd
Senior Portfolio Manager, AMP
Director, Investment Risk and Performance Analytics, Morningstar Investment Management Australia
Senior Director, Cutter Associates
Head of Investment Strategy (Acting), Mercer
Managing Director McGing Advisory & Actuarial
Research Director, Conexus Institute and Associate Professor, ANU
Executive Director, The Conexus Institute
Head of Investment Risk, Rest Super
Partner, Investments, Superannuation and Sustainability(ESG), PwC
Head of Data, Analytics and Cash at BT(invited)
Co-Founder, Hamilton12 (TBC)
Principal, Jefferson & Shea Impact Strategists
Principal, Kaparra Pty Ltd
CEO, DigitalX
Director at Morningstar
Senior Investment Specialist at Morningstar
Senior Investment Manager, Debt, Capital Markets and Alternatives at State Super
Senior Manager, Asset Allocation and Portfolio Construction Research, Vanguard
Senior Portfolio Manager, Equities, State Super (SAS Trustee Corporation)
Head of Investment Product & Communications, Rest Super
Investor Relations, Centuria Bass Credit
Asset Allocation 2024 Schedule
Learn Schedule, Program And Topics Of the 6th Annual Asset Allocation Strategies 2024 Forum
KYLE RINGROSE
Principal Consultant Athena IOC
Speakers:
• How effective have life cycle strategies proved to be in enhancing member outcomes?
• Can life cycle strategies be deployed effectively with limited member data
• Is there a trade off with investment returns?
• What could be done to enhance life cycle products for members?
• Why life cycle strategies may leave members with less money at the point of retirement
• How increasing longevity for super fund members will impact life cycle strategies
• In the context of a retiree’s potential 20-25 year life expectancy, when should “derisking” commence
• Why life cycle strategies are not universally adopted within the Australian super industry
• Lessons learned from “Target Date” funds in the USA
• The first step, recognising and defining the different risks and objectives of accumulation and pension members
• The second step, building asset allocation strategies to maximise the probability of meeting the different
objectives of accumulation and pension members
• Tackling the mother of all risks”, longevity risk head on
• Learning from an asset allocation strategy that has been adopted long before superannuation was introduced in Australia
KYLE RINGROSE
Principal Consultant Athena IOC
10:50 MORNING COFFEE & NETWORKING
Speakers:
• Differences between the retirement and accumulation phase
• Role of investments within retirement solutions
• Designing portfolios for use as ‘building blocks’
• Structuring the investment function to support a retirement income strategy
GEOFF WARREN
Research Director, the Conexus Institute and A/Prof, the Australian National University
• To what extent should the focus change from growth to
income after retirement?
• Have life cycle strategies been too conservative?
• Should life cycle strategies always continue into
pension phase for a seamless transition?
• Setting asset allocations to maximise income for
retirees and maximise frowth for accumulation
members
PANEL MEMBERS:
JERONIMO HARRISON
Senior Portfolio Manager, AMP
RICHARD MCDOUGALL
Managing Director, Hamilton12
JONATHAN CHUNG
Senior Portfolio Manager, Equities, State Super (SAS Trustee Corporation)
MODERATOR:
BRENDAN CASEY
Investment Consultant, Casey Investment Consulting
12:40 LUNCH BREAK & NETWORKING
• The opportunities provided by unlisted assets
• The ticket to play: excellent governance
• Exploring the (many) challenges of unlisted assets
• Pathways for policy, regulation and industry
DAVID BELL
Executive Director, the Conexus Institute
• Managing the risk of falling capital values during a
period of rising inflation and rising interest rates
• Why fixed income remains an attractive asset class
during rising markets
• Opportunities for increasing fixed income allocation to
protect portfolios of retirees
• Opportunities in private debt markets
14:50 AFTERNOON TEA & NETWORKING
• The disconnect between daily unit pricing and
infrequent valuations of unlisted real estate assets
• Why the regulators want to see greater disclosure of
unlisted real estate valuations
• What these disclosures might look like
• Issues with the changing discount rate for future cash
flows in an inflationary environment?
• The impact of WFH on CBD office valuations
SEAN MCGING
Managing Director, McGing Advisory & Actuarial
• Why infrastructure has been attractive to overseas
defined benefit funds
• Why the case for infrastructure in Australian defined
contribution funds may be different
• How effective is infrastructure as an inflation hedge?
• Can the concentration risks of infrastructure
investments be under estimated?
• How to manage liquidity risk for infrastructure investing
• Understanding Market Conditions and Trends
• Reviewing and Analyzing Current Portfolio
• Dynamic Asset Allocation
• Risk Management Strategies
• Adapting to Technological and Sector Shifts
• Global Diversification
PANEL MEMBER:
IAIN PERRY
Head of Performance Analytics and Investment Risk, Morningstar Investment Management
CLOSING REMARKS FROM THE CHAIR
8:20 DELEGATE REGISTRATION & COFFEE
8:55 OPENING REMARKS FROM CHAIR
KYLE RINGROSE
Principal Consultant Athena IOC
Speakers:
Many investors focus on the stocks and ETFs that they should have in their portfolio. This session provides insights into why asset allocation drives return outcomes and how to harness this in your portfolio.
• Where asset allocation fits into the portfolio construction process
• How asset allocation drives return outcomes more than security selection
• Risk tolerance vs risk capacity and the impact on asset allocation and investor outcomes
• The risks of misallocation and its prevalence in the superannuation industry
MARK LAMONICA
Director at Morningstar
SHANI JAYAMANNE
Senior Investment Specialist at Morningstar
• Insights into research of the effectiveness of TAA
• Historical big market calls
• Does switching between asset classes provide a performance edge?
• Why do boutique managers generally focus on specific asset class investing rather than building a balanced fund and
focussing on gains from tactical asset allocation?
• The impact of TAA on turnover and transaction costs
MATT WACHER
Chief Investment Officer, Asia Pacific,
Morningstar Investment Management Australia
• Typical currency allocations of superannuation funds
• The drivers of currency allocation
• The impact of currencies relative to other asset classes
• Dealing with the volatility of currencies
• The case for 100% hedged or 100% unhedged
ROB LECK
Head of Investment Risk, Rest Super
10:30 MORNING COFFEE & NETWORKING
• Is modern portfolio theory as relevant today as it was in the past?
• The single biggest driver of investment returns
• Where responsibility for strategic asset allocations lies – is it the asset owner, the investment manager or both?
• Are typical superannuation fund default options too conservative in their asset allocations?
• The key differences between asset allocations for short and long term investors
• The currency allocation dilemma – to hedge or not to hedge
PANEL MEMBER:
MATT WACHER
Chief Investment Officer, Asia Pacific, Morningstar Investment Management Australia
ANTHONY TSINGOS
Senior Investment Manager, Debt, Capital Markets and Alternatives at State Super
• Why a simple indexed equities and bonds portfolio may be in the best interest of members?
• The performance of indexed member investment choice options versus actively managed options
• The take up of indexed balanced options offered by super funds
• The impact of the Mysuper dashboard on the desire to reduce costs through indexed investments
MAZIAR NIKPOUR
Senior Manager, Asset Allocation and Portfolio Construction Research, Vanguard
12:40 LUNCH BREAK & NETWORKING
• Analysing the proportion of member dollars in default or choice products
• The attraction of non default products for members
• Are members chasing lower costs, higher returns or both
• Member perceptions of the asset allocation of the default option, Is it too aggressive or too conservative
• Do members understand the trade off between return and volatility?
• Is there a natural tendency for members to want to “play it safe”
• Do members consider costs when choosing their investment options?
• Are members aware that their choice of investment option is the primary driver of their returns?
• Should superannuation funds pace more emphasis on this critical member responsibility?
LYDIA VITALIS
Head of Investment Product & Communications, Rest Super
RAEWYN WILLIAMS
Principal, Jefferson & Shea Impact Strategists
14:50 AFTERNOON TEA & NETWORKING
• Individualising risk management via strategic advice.
• Transforming goals into portfolios
• Hidden risks in multi-asset portfolios: How a holistic approach to risk management can identify less apparent
concentrations in factor risk
• Style Adjusted Alpha: Accounting for a fund’s investment style when assessing alpha
The impact on asset allocations of ESG investing
• Should ESG be an asset class in its own right or a sub-class of traditional asset classes?
• ESG integration
• The potential restrictions of asset allocation in ESG investing
• The risk reward trade off with ESG asset allocations
• Corporate engagement and shareholder ac on
PANEL MEMBER:
REIN VAN ROOYEN
APAC Practice Lead, Cutter Associates
CLOSING REMARKS FROM THE CHAIR
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