Mercer Global Investment Forums 2019

2019

TOKYO16 April 2019

Forum Agenda

Contains links to related content on Mercer.com

MONDAY 15 APRIL, 2019

15:45–16:30Asset Manager Session Registration

16:30–18:30Asset Manager Session

18:30–20:30Welcome Reception (All delegates)

TUESDAY 16 APRIL, 2019

07:30–08:45Registration

07:45–08:45Breakfast

08:50–09:10Welcome and Opening

Masaaki SakakibaraWealth Business Country Leader, Japan

In this session, we present our investment themes for 2019 and beyond, taking you from the white waters of the late cycle, through winds of change in market participation and tectonic frictions in the global world order, to sustainability gathering momentum. We believe these themes will present both challenges and opportunities as well as drive change in the investment landscape. We discuss how different investors, both locally and globally, can respond to these themes and seek practical investment opportunities to improve portfolio outcomes.

Deb ClarkeGlobal Head of Investment Research

Panel

Nick WhiteGlobal Strategic Research Director

Cameron SystermansSenior Portfolio Manager

Toshio ImaiInvestment Consulting Leader, Japan

09:50–09:55MC

Yuka AkiwaSenior Investment Consultant

09:55–10:10Game of Later Life – Concept & Round 1

A healthy and happy retirement is the goal of retirees worldwide. The financial services industry is a critical component, helping to provide retirees with the income they need to support their lifestyles. As the number of retirement savings products and investment options for DC investors expands, providing an income for life becomes increasingly complex. The Game of Later Life puts you in the position of a retiree and asks you to match retirement savings products and investment options with your retirement goals. The aim of the game is to have the highest level of income, not to make the most money from your investments, but rather to have the most healthy and happy retirement.

Suzutaro KuroyanagiHead of Alternative Investments, Japan

10:10–10:40Networking and Coffee Break

10:40–11:40Keynote Address: Future of Technology and Humankind Seen Through Megatrends

The epicenter of technology has been shifting according to its own lifecycle, starting with civil engineering, moving on to mechanical engineering, electrics and electronics, and now to information technology, which is the driving technology of the era.

It is technology's nature to try to get close to humans, and the more sophisticated a particular technology gets, the closer it reaches the human body and mind.

The next generation's leading technologies are bio and neuro. Biotech will engineer genome and tissue to extend life and enhance the human body, while neurotechnology will construct access to our deep psyches.

Access to the brain means understanding what a human is, and the winner of this technology will have lots of advantages in any field of business. Although IoT and AI are the hottest topics of future technology, from the perspective of megatrends of technology, it is important to think of the social impact of bio and neurotechnologies.

Mr. Morinosuke KawaguchiFuturist

"The Sequel" to Mercer's 2015 Investing in a Time of Climate Change report will be published in April. This new report analyzes the impact of climate-related physical damages and the transition to a low-carbon economy on long-term expected returns, setting out examples of portfolio impacts between more- and less-climate-aware versions.

In this session, we discuss the influential drivers over both the short and long term, and we identify priority exposures and discuss what steps can be taken to position portfolios for future resilience. The session focuses on implementation, including an opportunity for active discussion.

Helga BirgdenGlobal Business Leader, Responsible Investment

Makoto HoshinoSenior Investment Consultant

12:05–12:15Game of Later Life – Round 2

A healthy and happy retirement is the goal of retirees worldwide. The financial services industry is a critical component, helping to provide retirees with the income they need to support their lifestyles. As the number of retirement savings products and investment options for DC investors expands, providing an income for life becomes increasingly complex. The Game of Later Life puts you in the position of a retiree and asks you to match retirement savings products and investment options with your retirement goals. The aim of the game is to have the highest level of income, not to make the most money from your investments, but rather to have the most healthy and happy retirement.

Suzutaro KuroyanagiHead of Alternative Investments, Japan

12:15–13:30Lunch

13:30–14:00The Changing Industry Landscape – Surveying the Impacts

For this session, we are joined by Ms. Atsuko Lino, Senior Manager of the National Pension Fund Association, and Mr. Shinichi Imoto, Director of Panasonic Pension Fund Management Co., Ltd. From the perspective of Japanese pension fund managements, we address the fundamental question of whether our investment industry is fit for purpose or if change is needed for it to remain relevant to all participants. The discussion also covers recent changes, such as outflows from active to passive management, increase in private market investments and the trend of switching out of DB arrangements into DC.
Facilitator

Yasutaka TakeuchiSenior Investment Consultant

Panelists

Atsuko IinoHead of Alternative Investment, Asset Management Department, National Pension Fund Association

Shinichi ImotoDirector and Head of Client Support Group, Panasonic Pension Fund Management Co.,Ltd

Decades after it embraced reforms, China is now an important participant in the global market economy. MSCI has taken formal steps in including domestically listed Chinese stocks into its equity benchmarks. Structural shifts are lifting the lid on China's onshore (CNY) bond market as well, and Bloomberg is due to start adding Chinese RMB-denominated government and policy bank securities to the Bloomberg Barclays Global Aggregate Index beginning in April 2019. This session explains the implications of a rising Chinese presence in the global investment landscape for asset managers and asset owners and also touches on the "green bond" market.

Yuka AkiwaSenior Investment Consultant

14:10–14:30DB Pension Plans – Exposing the Myths and Looking Ahead

We often hear that "in Japan, DB plans are fully funded, invested in low-risk ways, and there is little they can do". In this session, we address this statement and determine whether it is a myth or reality. We then present what DB funds can do today. We look at how some funds have solved for these issues and use our discussion as a springboard for future action for DB funds in Japan.

Tomoya GotoHead of Wealth Consulting, Japan

14:30–14:40Late Cycle Opportunities for Defensive Portfolios

The extended late cycle has presented some uncertainties for investment portfolios. In this environment we believe it is crucial to manage the potential downsides whilst not giving up expected return. In this session we discuss how investors can improve the robustness of their defensive part of their portfolio, whilst also improving the yield potential across the portfolio as a whole.

Janet LiWealth Business Leader, Asia

14:40–15:10Networking and Coffee Break

15:10–15:20Game of Later Life – Round 3

A healthy and happy retirement is the goal of retirees worldwide. The financial services industry is a critical component, helping to provide retirees with the income they need to support their lifestyles. As the number of retirement savings products and investment options for DC investors expands, providing an income for life becomes increasingly complex. The Game of Later Life puts you in the position of a retiree and asks you to match retirement savings products and investment options with your retirement goals. The aim of the game is to have the highest level of income, not to make the most money from your investments, but rather to have the most healthy and happy retirement.

Suzutaro KuroyanagiHead of Alternative Investments, Japan

15:20–15:40Investment Governance: Different Approaches to Working with Fiduciaries

Governance pressures are increasing on all asset owners as they seek to capture the best investment opportunities while managing costs and operational risks and complying with increasing regulatory scrutiny. This session looks at how global investors are changing their investment governance approaches in response to these challenges, the factors required to be successful under the different governance models, implications for asset managers and how governance trends are likely to play out for asset owners in Japan.

Fiona DunsireUK CEO and Wealth Leader, Growth Markets

The environment of continuing low interest rates has been one of the driving forces behind the increasing prominence of alternative assets in recent years. Many institutions now commit to at least one alternative asset class. In this session, four asset-class specialists each argue how the addition of a specific alternative asset class in a portfolio can make it more robust and help enhance return. As the audience, you can ask questions and ultimately vote for the most convincing presentation.
Host

Simon CoxeterDirector of Strategic Research, Growth Markets

Sessions

1.Alternative Fixed Income

Jean de KockAsset Class Specialist, Fixed Income Boutique

2.Private Equity

Valerie WongAsset Class Specialist, Mercer Private Markets

3.Real Estate

Henry ChingAsset Class Specialist, Real Estate Boutique

4.Liquid Alternatives

John JacksonGlobal Leader, Hedge Fund Boutique

16:30–16:45Bringing it All Together – Practical Application

In this session, we bring together the various themes and topics highlighted over the course of the Forum. We put forward suggestions for how you as investors can build these into your future investment plans and ultimately brave the elements to surf the late cycle.

Keisuke OkudaCEO Mercer Investments, Japan

16:45–16:55Game of Later life – Final Destination

A healthy and happy retirement is the goal of retirees worldwide. The financial services industry is a critical component, helping to provide retirees with the income they need to support their lifestyles. As the number of retirement savings products and investment options for DC investors expands, providing an income for life becomes increasingly complex. The Game of Later Life puts you in the position of a retiree and asks you to match retirement savings products and investment options with your retirement goals. The aim of the game is to have the highest level of income, not to make the most money from your investments, but rather to have the most healthy and happy retirement.

Suzutaro KuroyanagiHead of Alternative Investments, Japan

16:55–17:00Closing Remarks

Renée McGowanCEO, Asia

17:00–18:00Drinks Reception

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