The Room151 Investment Forum at the London Stock Exchange drew some 160 delegates from across the LGPS, discussing the key investment themes the industry will be facing in 2024.
The event was moderated by Moneta CIO Aoifinn Devitt (pictured) who drew the audience’s attention to the rapidly changing investment context LGPS practitioners had witnessed over the past twelve months. From a challenging outlook to the aftermath of the LDI crisis, many LGPS funds are now fully funded. But Devitt also called on investors to remain vigilant.
A full writeup of the event can be found here.
Asset allocation and strategic choices for LGPS investors also featured prominently in the first panel debate hosted by Phillip Pearson (pictured), head of LGPS Investment at Hymans Robertson, which featured Laura Colliss, pension fund manager at NESPF and Sean Johns, pension funds investments manager at Cornwall County Council.
Another key theme at the event was investments in sustainable infrastructure, with a panel debate being hosted by SwissLife and Gresham House featuring Gianfranco Saladino, head of Infrastructure Investments at Swiss Life Asset Managers, Peter Bachmann, managing director at Gresham House, Luke Webster, chief investment officer at Greater London Authority and Paul Guilliotti, assistant director (financial services) at Richmond & Wandsworth Councils.
In his keynote, Chris Hulatt founder of Octopus Group, outlined his ideas for supporting UK entrepreneurs if he were to be chancellor for a day.
A highlight of the day was the presentation of a survey conducted jointly by Schroders and Room151 to provide insight into the latest trends among LGPS investors.
The survey results were presented by Paul Myles (pictured), private assets director at Schroders; key insights from the survey can be found here.
Inflation and its impact on interest rates were also on the cards with Piers Hillier, chief investment officer at Royal London Asset Management joining Seth Meyer, head of fixed income strategy, portfolio manager at Janus Henderson Investors alongside Andrew Parry, head of investments at J O Hambro and Peter Wallach director of pensions at Merseyside Pension Fund.
Inflation and asset allocation challenges were also high on the cards at the CIO panel, where Gordon Ross, chief investment officer at LGPS Central was joined by Joe McDonnell, chief investment officer at Border to Coast Pensions Partnership and their peer Richard J Tomlinson, CIO at Local Pensions Partnership Investments.
The outlook and opportunities in private markets were outlined by Ernie Chesculescu, director at Baring, Nick Holman, head of UK & Ireland at Kartesia, Neil Berry investment manager East Riding of Yorkshire Council and Phil Triggs tri-borough director of treasury & pensions at Westminster City Council.
Levelling up strategies were discussed by Louise Evans, head of Asset Management at Franklin Real Asset Advisors, John Styles, CIO at Knight Frank Investment Management LLP, George Graham, director at South Yorkshire Pensions Authority and Jonathan Digges, CIO at Octopus Investments.
Opportunities in natural capital and nature positive investments were addressed by Stephen Addicott, managing partner at Stafford Timberland, Robert Hall, director, earth systems impact investment at Federated Hermes Limited, David Spreckley, head of pensions and treasury at the London Borough of Barnet, and Alex Younger, head of investment & funding at Norfolk Pension Fund.
In the final session, the outlook for equities was discussed by Rosie Rankin, investment specialist director at Baillie Gifford, Lauren Juliff, climate and sustainability lead, UK at Storebrand Asset Management, Neil Mason, assistant director and LGPS senior officer at Surrey Pension Team and Bola Tobun, treasury & pensions manager at the London Borough of Harrow.
