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Carden Park, Cheshire | 27 - 28 February 2020

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Carden Park Hotel, near Chester: 27-28 February 2020

​Thursday 27 February

Session

Title

Presenters

09:15 – 09:45

Coffee and registration

09:45 – 09:55

Chair’s welcome:  Dawn Turner, Independent Advisor and Non-Executive

09:55 – 10:40

Plenary 1

In conversation with …..

A fireside chat making sense of the latest geopolitical and economic landscape from an outside perspective. Providing clarification on the latest political and economic developments 

Speaker to be confirmed

10:40 – 11:30

Plenary 2

The outcome of the 2019 valuation and its impact on investment strategies

  • Providing analysis of the overall picture for the LGPS funds.
  • What has been different in the valuation process this time round.
  • How funds should be reviewing their investment strategy depending on their funding position.
  • What the impact will be on contribution rates and cashflow.
  • How the fund can get their strategy implemented with pooling. 
  • ​How the Pool can assist at this time

Graeme Muir, Partner and Head of LGPS, Barnett Waddingham

Jo Ray, Head of Pensions, Lincolnshire County Council

Phil Triggs, Tri-Borough Director of Pensions, Westminster City Council

 

11:30 – 12:00

Refreshments

12:00 – 13:00

Workshops

Choose to attend 1 out of 4 investment focused workshops led by our fund manager sponsors

13:00 – 14:15

Lunch

14:15 – 15:15

Plenary 3

World café round table discussion session led by LGPS moderators on hot topics.

  • SAB responsible investment guidance: implications on ESG and climate risk
  • LGPS challenges in terms of benefits and costs (including GMP reconciliation and equalisation and 95k)
  • Is the LGPS performing better and looking more sustainable?
  • TPR survey and cohort findings – what is the impact on LGPS?
  • Forthcoming pensions legislation (depending on where we are with the EU) and how could LGPS collaborate more to manage change and to deal with risks

Session introduced by: Peter Wallach, Director of Pensions, Merseyside Pension Fund

Moderators include:

Euan Miller, Assistant Executive Director, Greater Manchester Pension Fund

Rachel Brothwood, Director of Pensions, West Midlands Pension Scheme

Thomas Skeen, Head of Pensions, Treasury and Chief Accountant, London Borough of Haringey

Doug Heron, Chief Executive, Lothian Pension Fund

15:15 – 15:45

Refreshments

15:45 – 16:45

Workshops

Choose to attend 1 out of 4 investment focused workshops led by our fund manager sponsors

16:45 – 17:30

Plenary 4

Investing for the climate emergency

With climate change gaining increasing prominence for councils, this session will explore the implications for the funds and pools.  

Providing practical case studies of different climate scenarios and how to compare them

How your pension scheme’s policy towards climate change aligns with what the council is doing and does it matter if there are discrepancies between the two.

The impact of climate scenarios, and how one manager creates an index based fund for climate aware investors to replace their passive portfolios.

How are one of the pools responding where each of the underlying funds may well be in a different position

How funds handle the situation where there is pressure from council to divest.

Live from Oslo: Henrik Wold Nilsen, Senior Portfolio Manager, Storebrand Global ESG Plus

Michael Marshall, Director of Responsible Investment and Engagement, LGPS Central

19:00 

Networking reception and canapes

19:30 

2 course networking dinner (main course and dessert) 

Friday 28 February 

08:32 – 08:50

Refreshments

08:50

Chair’s welcome: Dawn Turner, Independent Advisor and Non-Executive

09:00 – 09:30

Plenary 5

 

 

 

 

09:30-10:00

Plenary 6

 

What should keep LGPS awake at night? 

Topical debate on the latest developments on the fund manager’s radar, which could impact LGPS most and what can be done about them. This is an opportunity to hear what they’d prioritise if they were managing a typical LGPS portfolio in 2020 and beyond.

 

Session to be confirmed

 

John Roe, Head of Multi-Asset Funds, Legal & General Investment Management

 

10:00 – 10:45

Plenary 7

How funds should be analysing and measuring global markets across different styles, classes and strategies

With the recent move in investment away from the UK, LGPS funds are investing more in emerging markets.

This session will look at the role of the index in this – especially in India, China and hard to reach emerging markets where the measurement process is less clear cut.

Should investment in emerging markets be active or passive?

Practical insight from one of the pools on how they are tackling this issue

Digging down into regional splits and what they mean

Outlining the growth prospects for India and China

Speaker to be confirmed

 

10:45 – 11:15

Refreshments

11.15 – 12.00

Plenary 8

The Governance challenge ahead

How to prepare for closer monitoring, reporting and measurement of performance

What the key governance requirements are for LGPS pools and funds

Meeting the TPR’s requirement for better governed schemes

Possible options for restructuring and how to go about it

Denise Le Gal, Independent Chair, Brunel Pension Partnership

Bob Holloway, Pensions Secretary, Local Government Association  

 

12:00 – 12:45

Plenary 9

LGPS and CIPFA update

  • ESG and climate change guidance from the SAB
  • Latest update on liability shocks: McCloud, Walker, GMP equalisation
  • Deficits, employer contributions and the impact on cashflow
  • Resourcing gap and collaboration
  • How CIPFA can support the LGPS funds
  • Insight into CIPFA’s future areas of focus.  
  • Standardised accounts – are they fit for purpose?
  • Cost transparency initiative

Jeff Houston, Secretary, Local Government Pensions Scheme Advisory Board

Andrew Burns, Associate Director, CIPFA 

 

12:45

Closing remarks

Dawn Turner, Independent Advisor and Non-Executive

12:50

Lunch

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