LGC Investment Seminar Programme

Carden Park, Cheshire | 27 - 28 February 2020

download now

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

​Thursday 27 February




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 

David Smith, Economics Editor, The Sunday Times

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

Barry McKay, Partner and Fund Actuary, Barnett Waddingham

Jo Ray, Head of Pensions, Lincolnshire County Council

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


11:30 – 12:00


12:00 – 13:00


Choose to attend 1 out of 3 investment focused workshops led by our fund manager sponsors

Workshop A: Looking beyond UK real estate for stable and diversified sources of return                                                        Doug Rowlands, Director of Client Portfolio Management, Invesco Real Estate

Workshop B: De-mystifying the Stewardship Code                                                                                                                   Jenny Anderson, Senior Vice President and Co-Head of Sustainable Investment and ESG and Neil Millar Senior Vice President, Research Analyst, Lazard Asset Management

Workshop C: Can fixed income investors influence change through ESG engagement?                                                      William Nicoll, Head of Institutional Fixed Income, M&G Investments  


13:00 – 14:15


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 from both investment and administration perspectives?
  • TPR survey and cohort findings – what is the impact on LGPS?
  • Is Brexit an opportunity or a risk for pensions and investment legislation?  What would you like to see changed?

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

Abigail Leech, Head of Fund, Lancashire County Pension Fund

Anthony Parnell, Treasury & Pension Investments Manager, Carmarthenshire County Council

Mike O'Donnell, Chief Executive, London CIV

Roger Kershaw, Head of Finance, London Borough of Merton 

Kevin McDonald, Programme Director, ACCESS 


15:15 – 15:45


15:45 – 16:45


Choose to attend 1 out of 3 investment focused workshops led by our fund manager sponsors

Workshop D: Is Cashflow Driven Investing (CDI) relevant to the LGPS, given the longer-term nature and largely cash flow positive position of these schemes?                                                                                                                                               Robert Price, Portfolio Manager, AXA Investment Managers

Workshop E: How re-generational partnerships can benefit Local Government Pension Schemes and local authorities alike.                                                                                                                                                                                                           Renos Booth, Head of Real Estate Long Income and Luke Layfield, Real Estate Long Income Fund Manager, Aviva Investors

Workshop F: What is the future for Active Management?

Jeremy Richardson, Senior Portfolio Manager, RBC Global Equity

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

Rachel Cowburn, Head of Pension Fund Investment, London Borough of Hackney


Networking reception and canapes


2 course networking dinner (main course and dessert) 

Friday 28 February 

08:32 – 08:50



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

09:00 – 09:30

Plenary 5






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.


Re-thinking Growth for the LGPS: Investing for the Long Term

This session explores the complacency of high funding and the potential risks of derisking.  It will focus on the need to keep money in growth assets, the possible implications of a recession to our economies and other risks to traditional index, and therefore the move into other equity style asset classes. 


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







Dag Skattum, Managing Director, BlackRock

10:00 – 10:45

Plenary 7

Embracing impact investing: is the LGPS making a difference?

Outlining how to balance impact investing whilst achieving returns

Measuring impact investments: analysing their effectiveness

Update on the progress being made on impact investing regionally, locally and on a global basis

How far is the UK making headway towards achieving Sustainable Development Goals?

Karen Shackleton, Founder, Pensions for Purpose

Jamie Broderick, Lead Expert for Investment Opportunities, Impact Investing Institute

Peter Wallach, Director of Pensions, Merseyside Pension Fund

10:45 – 11:15


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 



Closing remarks

Dawn Turner, Independent Advisor and Non-Executive



By continuing to use the site you agree to our cookies policy. Accept