2nd Investment Implementation Summit
Agenda - Thursday March 28, 2019
Amora Hotel Jamison Sydney
9.00-9.50
Maximising implementation efficiency
With superannuation funds increasingly hiring investment implementation specialists, this panel will look at various initiatives that superfunds are taking to improve implementation efficiency and optimise returns.
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What large scale projects are being undertaken and what are the benefits?
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What implementation factors should funds consider when making strategic changes at fund level?
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Benefits of centralised portfolio management, cash optimisation, collateral management and securities lending as ways to capture additional revenue.
Panel:
Head of Derivatives,
NAB Asset Management
Head of Fund Implementation,
Mercer Super Trust
Senior Investment Manager,
Commonwealth Superannuation Corporation
9.50-10.30
Optimising asset allocation overlays
An increased focus on more accurately managing whole of fund risk exposures and maximising returns has led a number of superannuation funds to redesign their asset allocation overlay strategies.
This panel will look at various initiatives that superannuation funds are taking to improve their asset allocation overlay models, including tactical tilting and the strategies they employ. It will also consider some of the challenges, including developing overlays for multi-manager models.
Panel:
Manager, Investment Implementation & Due Diligence,
REST Industry Super
Associate Portfolio Manager - Liquidity, Fixed Income & Markets,
First State Super
Chief Executive Officer,
Matrix
10.30-11.00
Networking & refreshments
11.00-11.40
Factor investing in practice
Factor investing has become increasingly popular in recent years, but practical implementation can be challenging with different strategies leading to very different outcomes and the potential for significant drag on performance.
For example, depending on the strategy, trading costs can have a significant impact on returns. This presentation will outline the main investment options and issues to consider when looking to implement factor investing. It will also consider whether there are effective transaction cost mitigation techniques.
Discussants:
Head of International Equity Trading,
Dimensional Fund Advisors
Portfolio Manager,
First State Super
11.40-12.10
Designing currency overlays in a multi asset context
Managing currency exposures is critical for superannuation funds, both from a risk and return perspective. At Sunsuper, currency exposure and the implementation of overlays is managed on a total portfolio basis.
This session will discuss how funds can optimise the design of currency overlays in a multi-asset context, the implementation factors to consider, and how to measure the performance and execution quality of these overlays.
12.10-12.40
Derivatives in focus
With a growing focus on cost and the increasing size of funds under management, it’s increasingly important to consider the most efficient ways to implement changes to asset allocation.
This session will identify when it’s worth using derivative-based strategies as a potential cost-saving mechanism, including a cost-benefit analysis of physical versus futures and swaps- based methods.
12.40-13.40
Lunch - networking & refreshments
13.40-14.10
Best practice in trading and best execution: a global perspective
Best execution has been a subject of significant regulatory and market focus globally. In Australia, regulatory requirements remain far less prescriptive, but investor interest is on the rise.
This session will provide a global perspective on integrating trading and best execution, discussing the trends, the practical implications from an OMS/ EMS perspective, and the advantages of adopting global best practice in this field.
14.10-14.40
Data opportunities beyond TCA: from rear-view analysis to actionable insights
Optimising data analysis to gain actionable insights and improve the quality of predictions that lead to better and more efficient trades, is an important emerging trend. While institutional trading desks already collect significant data sets for TCA purposes, using this data to inform and improve future trading decisions is an emerging discipline that could provide significant opportunities. This presentation will discuss the latest trends and opportunities in this field.
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Optimising the portfolio lifecycle: improving trade analytics and providing actionable insights for trading desks.
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Global trends in predictive trade data analytics.
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How will these technologies alter the required skillset of the buyside trader of tomorrow
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What are the costs vs benefits of investing in these technologies?
Presentation:
Global Director, Portfolio Management and Trading Solutions,
FactSet (New York)
14.40- 15.10
Networking & refreshments
15.10-15.50
Optimising alpha: increasing and measuring trader value-add
As trading functions become more and more automated, the ability of the trading function to ‘add value’ becomes increasingly important. This session will look beyond the technicalities of execution to discuss how you can equip your traders to add maximum value from an investment implementation and alpha generation perspective.
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What technologies are available to enhance the skills of buyside traders and help identify short term alpha opportunities?
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Streamlining communication and workflow productivity and further embedding the trading desk in the investment implementation process.
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What are the latest techniques to measure improvements in trader performance and decision-based attribution?
Panel:
Senior Dealer - Global Equities & Fixed Income,
AMP Capital
Head of Australia & New Zealand,
Symphony
Portfolio Manager, Interest Rate Strategies
Ardea Investment Management
15:50-16.30
A global perspective: trading emerging markets
As investors seek more diversified exposure, interest in global trading opportunities is on the rise. Emerging markets are a particularly challenging case in point. This session will assess some of the key considerations when trading global and emerging markets.
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What are the most efficient ways to access emerging markets?
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How do you assess brokers and access best execution in these markets?
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What are the liquidity considerations?
Panel:
Senior Equities Dealer,
Colonial First State Global Asset Management
Director/Portfolio Manager - Emerging Market Equities,
Northcape Capital
Managing Director,
Tourmaline Partners
16.30-17.10
Positioning for a changing market structure: where is the liquidity?
Liquidity is shaping up to be a key issue in 2019. Not only is the market structure changing globally, with a number of new venues and constructs such as new principal trading offerings, periodic auctions and systematic internalisers attracting significant flow.
At the same time, increasing flows from active into passive investment strategies are causing a drop in market liquidity, while the reversal of quantitative easing is adding further pressure. This session will consider how to navigate execution in a liquidity constrained environment.
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Ten years on from the global financial crisis, what’s the outlook for liquidity risk and how can traders best prepare for this risk?
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In an environment of reducing liquidity, where are future trading opportunities for long only managers?
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What is the outlook for block trading and how will this impact the market?
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How will active trading strategies fare in this climate?
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What are the liquidity benefits of trading on close?
Panel:
Managing Director,
UBS
Execution Services
Virtu ITG Hong Kong Limited
Senior Trader,
Dimensional Fund Advisors
17.10-18.00
Networking reception