When: 14/03/2019 for 7.30am for 8.00am to 9.00am Where: IAA Cost: IAPF Member - Pension Scheme Representative (Non Practitioner): Free of Charge,
Sequencing Risk - Managing downside risks can have a significant impact on long term investment outcomes
Whether you are a DB Fund entering net negative cash flow territory or a maturing DC scheme where members are approaching retirement, developing an investment strategy for the decumulation phase will be key to a successful outcome for your members. In the UK, over 50% of DB Schemes are in negative cash flows and we expect the numbers in Ireland are very similar to the UK situation, while many DC members are not taking annuities with their pension pots and are therefore actively taking risk through their investing strategy in retirement.
Some argue that investors can always sell investments to generate whatever liquidity is required. This ignores the fact that they face sequencing risks in doing so, as markets can be subject to irrational and severe moves. This problem has been apparent many times over the past few decades, most recently in the global financial crash.
Anthony MacGuinness (Deputy CIO at Irish Life Investment Managers) will explain why sequencing risk and managing the drawdown (downside) risk in your portfolio through this decumulation phase can have a significant impact on investment outcomes, whether you are a DB scheme or a DC member in retirement. Anthony will describe how the ‘order of investment returns’ are crucial for investors looking at 20 year, 30 year or even longer time horizons and the outcomes can be shaped positively by actively managing this sequencing risk.
This event is open to Trustees only in order to facilitate open discussion. There is no charge for Trustees to attend but we ask that you book your place in advance.
This seminar is allocated 1 CPD hour by the IAPF for on-going trustee training requirements. We received 1 CPD hour from the LIA, (LIA 05415_2019). We received confirmation from the IOB (IOB2019-0908) and the IIPM under category 2. Pensions, Pension Trustee Practitioners (PTP) hours and category 3. Savings and Investments. If you have a query relating to the CPD hours, please contact the relevant awarding bodies.
7.30am
Registration: Continental and Hot Buffet Breakfast
8.00am
Introduction: Elma Fox, IAPF Benefits Committee
8.05am
Presentation & Panel Discussion: Sequencing Risk - Managing downside risks can have a significant impact on long term investment outcomes
Speakers: Colin Cunningham, Director - Global Institutional Distribution and Anthony MacGuinness, Deputy CIO & Head of Quantitative Strategies Groups, John Thornton, Senior Fixed Income Manager, Lenny McLoughlin, Chief Economist, ILIM
Q&A
9.00am
Ends
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