Philip Coggan
The Economist

The Banking Crisis – How did we get here, where is it going?

The banking crisis is the result of changes that date back 40 years. Banks have become much more risky and complex. Governments have had to take a much more active role than they expected.

Exiting that role will be the problem they face over the next 10 years. And devising a new system of regulation will be just as difficult.

David Collinson
Partner, Pension Corporation

Buy-in and Buyout – What are you buying?

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In this session David Collinson examined in detail the underlying nature of what is actually being purchased in an insurance buyout or buy-in.

David looked at investment, hedging, security and regulatory factors and compare insurance to other de risking options for pension funds. Finally, the outlook for the pension insurance market.

Markus Krygier
Senior Global Fixed Income & Currency Manager, CAAM

Central Banks in Unchartered Territory

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Responding to the global financial crisis has pushed many central banks into uncharted territory. Having run out of interest rate cuts central bankers across the globe are resorting to unorthodox monetary policies, including quantitative easing, giving rise to inflation and deflation scenarios alike. In this session Markus Krygier explored the relevance of alternative scenarios and discussed implications of the new policy regime for bond investors.

Ben Jones Fund Manager – M&G Secured Property Income Fund

Steffan Francis Director of Fund Management – PRUPIM

The Search for Income: Delivering Secure, Rising Long-Term Returns from Real Estate

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There is increasing demand from pension funds for investment products which provide stable and inflation-mitigated income streams, capable of matching long-term liabilities. By investing in high quality real estate assets let to investment grade tenants on long-term leases (incorporating contracted rental increases), investors can access fixed and index-linked income, supported by underlying real estate values and the credit quality of the tenants. These leases can provide secure, rising, inflation-mitigated returns at a substantial return premium over alternative fixed income investments. They also offer a defensive alternative to traditional real estate allocations without necessarily sacrificing the long-term upside potential of real estate investment.

Paul Thornton
OBE Chairman of the Pensions Advisory team Gazelle Corporate Finance Limited

Sponsor Covenants under stress Assessing sponsor covenants in current conditions

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Negotiating security for members with a changing corporate agenda.

Recovery plans second time around.

Opportunities for de-risking.

Emma Watkins
Head of Relationship Management, Metlife Assurance Limited

Route to Buyout – Preparation is the key to success

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In this time of unprecedented market volatility the reasons to adopt a de-risking strategy are increasing. In this session Emma Watkins assessed how trustees can best prepare in advance of a buyout.

Emma looked at the various aspects a trustee needs to consider from importance of accurate data and investment strategy to stakeholder involvement in the run up to pension scheme de-risking.

Martyn Phillips,
Corporate Deal Principal - Prudential

De-Risking – Key steps to success

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In this interactive session Martyn Phillips assessed the case for de-risking DB pension schemes, discuss some of the solutions available and help identify how trustees can prepare themselves to successfully implement a de-risking strategy.

There was also an opportunity to share best practice ideas with fellow Trustees.

Gavin Francis
Managing Director, Client Portfolio Management

Currency – A source of risk or return?

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2008 was a bad year for UK pension funds by any measure. However, the situation could have been far worse, had foreign currencies not strengthened so impressively against sterling.

Currency risk exists as a source of uncertainty for pension funds with overseas assets. This workshop attempted to explain this risk and explore possible solutions.

Mark Johnson Managing Director and Client relationship Manager, BlackRock

Recipes for Investment Success – New solutions for your pensions scheme

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In this presentation, Mark Johnson considered how new choices for default funds can help DC members overcome the Lifestyle challenge. Mark discussed how Fiduciary Management can help pension schemes make more ‘timely’ and ‘risk aware’ investment decisions.

Steve Delo
Head of the Pensions Management Institute

Getting the most out of your advisors and managers

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Steve looked at the interfaces between trustees and their advisers and how these are set to change with developments in consulting, service delivery and asset management models.

How can trustees improve engagement and ensure efficient use of advisory resources?