10 July 2018 – Simone Lavelle attended this State Street event.
3 July 2018 – Simone Lavelle attended the Rabobank event.
20 June 2018 – Simone Lavelle attended this annual lunch focused on FTSE 350 research.
Avida hosts: Trustee Board and Investment Committee Decision-Making – what reporting support do you really need to be effective?
19 June 2018 – Peter Kolthof, Partner and Country Head for Avida International in the Netherlands, introduced the subject and discussed his extensive experience of best practice in decision-support reporting. He laid down some challenges about how trustees make use of an executive team and advisers. This was followed by a roundtable discussion and a summary can be found here.
18 June 2018 – Simone Lavelle attended this meeting on Chinese EQ.
Delighted that Sally Bridgeland is a Finalist for ‘Role Model of the Year’ in Professional Pensions Women in Pensions Awards 2018.
3 – 4 May 2018 – Dorothee Franzen and Tim Juling attended the annual conference of the German pension fund association.
7 March 2018 – Simone Lavelle attended this event.
27 February 2018 – Avida International organised a breakfast roundtable on running DB pensions from a CFO’s perspective. Annemarie Straathof talked about the governance changes she, as CFO Europe for Rabobank, helped effect during the last couple of years at their UK pension fund. This was followed by a roundtable discussion and a summary can be found here.
21-22 February 2018 – Simone Lavelle attended this event.
20 February 2018 – Bart Heenk attended this Summit.
24 January 2018 – Simone Lavelle attended “Finding Opportunities in a Volatile World” in London.
21 November 2017 – Simone Lavelle attended this conference in London.
14 September 2017 – Dorothee Franzen attended the 11. Villa Mumm Konferenz: Investmentperspektiven und aktuelle Trends in der betrieblichen Zukunftsvorsorge
26-28 June 2017 – Simone Lavelle attended this event at Castle Coombe.
8 June 2017 – On some occasions the trustee board of a pension fund is bigger than the executive team, leading to more ‘managers’ than ‘doers’. At our most recent breakfast roundtable we considered what the right mix might be and how the governance model should work.
If you are a senior pension fund director/trustee interested in attending our roundtables in future please contact firstname.lastname@example.org.
Dorothee Franzen chairs Financial Literacy session at 15th International Conference on Pensions, Insurance and Savings
Dorothee Franzen participates in the Annual Conference of the German Association for Occupational Pensions
Peter Kolthof chaired two Financial Investigator roundtables – one for providers and one for pension fund clients.
During the roundtables, the importance of soft factors (match in culture) next to hard results was stressed, as well as the continuous and independent evaluation of a fiduciary manager.
1-3 February 2017 – Sally Bridgeland was a panellist at the Institutional Investor European Pensions Symposium focused on ‘Meeting long-term liabilities in an age of unpredictability‘.
13 October 2016 – Avida International celebrated it’s 10th anniversary with a London-based seminar on crisis management for pension funds. The keynote speaker was General Sir Richard Shirreff, Deputy Supreme Commander of NATO Europe 2010-2014 who talked about how the military deal with crisis management. He was joined by Martin Reeves, Senior Partner and Managing Director at the Boston Consulting Group’s New York office, and Director of the BCG Henderson Institute, who looked at adapting strategy to a changing landscape; Paul Boerboom and Sally Bridgeland of Avida International who gave practical examples of risk management and the lessons that can be learnt by the pensions industry; and Bart Heenk also of Avida International who talked about the importance of repeated practice and thorough preparation. The day was chaired by Professor Gordon Clark, Avida International Advisory Board member and Director of the Smith School of Enterprise and the Environment, University of Oxford.
A brief summary of the day can be found here.
10 June 2016 – Bart Heenk (MD, Avida International) chaired a panel discussion at the IPE 360 Conference at the London Stock Exchange. Joining him on the Panel were David Adkins (Chief Investment Officer at The Pensions Trust) and Anthony Webb (Head of Fiduciary Management Research at KPMG). The topic was:
Making Outsourcing Work: Fiduciary Management and other forms of Investment Strategy Delegation
The audience consisted of the leading pension fund representatives from the UK, Netherlands, France, Germany, Belgium and other key European pension markets.
The discussion centred around the importance of being able to judge the value of outsourced activity. Financial data – such as performance, costs and risk – are only one factor in this; softer human factors – such as communication, trust and innovation – are just as important, though not always easy to quantify. Another topic was the importance of pension funds not being talked into a provider’s outsourcing model, but to work out precisely what their own needs are before deciding on who the provider should be. Too often investment consultants are leading the debate and transferring their pension fund clients from an advisory to a delegated model, whereas the best solution for the pension fund might be an altogether different method of outsourced decision-making. It was agreed that a proper and independent analysis has to precede the decision to change the mandate.
By Susanna Rust on IPE, 10 May 2016
European pension funds need to make a “fundamental” behavioural and cultural shift to close “a yawning gap between the rhetoric of governance improvements of recent years and their reality on the ground”, according to a paper from The 300 Club, a group of investment professionals seeking to challenge mainstream investment practice and thinking.
Read the full article on IPE.
Sally Bridgeland talks about defining the measures of success before going in-house in Pensions Expert
By Sophia Grene, Financial Times, October 19, 2015
After a number of false starts, fiduciary management, where the day-to-day management of a pension scheme is outsourced, seems to be taking off in the UK market.
“My best guess is that, in five years, more than half of defined benefit [pension] assets will be run under some form of fiduciary management,” says Chris Ford, global head of investment at Towers Watson, the consultancy.
Fees and costs are controversial issues in the investment industry. Steven Charlton, Aisha Dudhia and Bart Heenk break down the key challenges in the discourse in the Autumn issues of Professional Investor. Bart Heenk: “The average pension fund trustee has limited insight into management fees and no idea of the true costs. This is largely because there is not attempt by the industry to provide clear and complete reporting. In fact most costs are, and remain, hidden unless you specifically ask for them.”
Read the full article here.
Bart Heenk spoke about the trend of outsourced models such as investment consulting and fiduciary management at the Sanlam Investment Institutional Insights conference in Sandton, Cape Town.
Sally Bridgeland: “Looking beyond the UK may provide lessons on how maturing pension funds can rework investment governance.”
Rembrandt’s self-portraits show an honest, unflattering, self-awareness as he aged. At a recent discussion event in London, large and maturity UK pension funds were candid in challenging their limitations and knowing their weaknesses. While UK pension funds still have long-term time horizons, these will diminish and will have a bearing on whether it is worthwhile establishing in-house resources to manage long-term illiquid investments.
Read the full article at I&PE.
The UK is a divided market for pension funds and while many argue it is well-regulated, others say it is overtly restrictive. In truth, both sides are right. The regulations put in place since Pensions Act 1995, the regulatory response to fraud at the Mirror Group pension fund following the death of Robert Maxwell in 1991, have succeeded in adverting further scandals but have arguable hastened the demise of defined benefit (DB) schemes.
To read the full article visit I&PE.
Bart Heenk gives his viewpoint on outsourcing the investment process to fiduciary managers or delegated CIOs in I&PE
More and more pension funds are outsourcing part or all of their investment process to fiduciary managers or delegated CIOs, and in the Netherlands the majority of pension funds have already done so. Fiduciary management, solvency management, outsourced CI or delegated CIO, depending on how the various market participants label their service, can be very beneficial for defined benefit pension schemes that want or need a relatively sophisticated investment portfolio to meet their obligations.
Read the full article on I&PE.