Teresa Palandra, Canada Wealth Leader

Jo Holden, Global Head of Investment Research
Yusuke Khan, Director of Strategic Research, Canada

As investors, we need to adapt our outlooks and expectations to ensure portfolios are positioned to manage new risks and capture opportunities that may just fleetingly arrive. We encourage investors to focus on the themes and opportunities where we see the most potential in the years ahead.

Our New World theme considers the impact of monetary and fiscal policies on the global economy, along with shifting power and alliances on the global stage. In our Business as Unusual theme, we explore the changing trends in business, as both markets and work change, and we enter a world of increased engagement. Finally, within our Position for Transition theme, we see action by investors on climate change as crucial, and a total portfolio approach fundamental in supporting this.

Host: David Willers, Senior Investment Consultant, Toronto

Panelists:
Marie-Léa Girouard, Investment Consultant, Montreal
Dasha Zuck, Investment Consultant, Vancouver
Shaun Cogswell, Investment Consultant, Halifax
Claudia Lipping, Senior Investment Consultant, Toronto

Recent years have tested conventional wisdom. Pandemic winds, interest rate droughts and monetary and fiscal stimulus have buffeted portfolios. Investors are wondering whether they should be finding refuge in what’s tried and true, or seeking new forms of shelter. Should investors be looking to the comfort of home? The stability of low volatility? The ambition of active or the low cost of passive? Will value return to favor or is it all about growth? This session provides a fresh perspective on equity investments, and explores the answers to these timeless questions.

Jillian Kennedy, Leader of DC and Financial Wellness, Canada
Lovey Sidhu, Responsible Investment Consultant, Toronto

You need to futureproof your portfolio. Explore how investors can meet investment and climate goals as the globe transitions to a low-carbon economy. Hear how Mercer is using innovative tools and analytics to help its clients answer key questions such as how to reduce emissions and set aligned targets while meeting investment objectives and not simply divesting today’s high carbon companies. We also discuss how this can be practically implemented, monitored and communicated to key stakeholders.

Mark Carney, Vice Chair, Brookfield, UN Special Envoy on Climate Action and Finance; Former Governor of the Bank of England and Bank of Canada; Former Chairman of the Financial Stability Board
Martine Ferland, President and CEO Mercer, Vice Chair, Marsh McLennan

Mercer President and CEO, Martine Ferland, talks to Vice Chair of Brookfield Asset Management, Head of ESG and Impact Fund Investing and the former Governor of the Bank of Canada and the Bank of England, Mark Carney. They discuss broad economic issues with particular focus on how climate change will shape government policies, financial regulations and investment strategies, and what actions asset owners can take to ensure a sustainable future. Mr. Carney also shares his reflections on the global economy based on his distinctive career, having led the central banks of two countries, and held a number of corporate and advisory leadership roles.  

1 . Transformational Investing: Addressing Systemic Risks for Long-term Investment Success

Ashley Knight, Mercer’s Fellow at the World Economic Forum
Peter Grant, Senior Investment Consultant, Norwalk

We’re very excited to share recently completed research with the World Economic Forum that explores the advanced investment practices of asset owners around the globe. The research focused on the most complex issues of our time (for instance, climate change, low/negative interest rates and technological evolution).

The research findings were informed by over 200 interviews with the investment community and an asset-owner survey – representing more than $3.4 trillion in aggregated assets – that highlighted how investors integrated the trends. We also share insights about a climate change self-assessment framework that incorporates the steps that advanced organizations take and the lessons learned through their transformational investment journeys.

2. Breaking the Bond: Where Will Returns Come From Going Forward?

Facilitator: Todd Saulnier, Senior Investment Consultant, Ottawa

Panelists:
Jeff Bunce, Asset Class Specialist, Fixed Income Boutique
Marlene Puffer, President and CEO, CN Investment Division

Over the years, bonds have played an important role in investor portfolios, whether it be a liquidity source, a liability-hedging asset, a diversifier or even a tail-risk hedging asset. Decades ago, we also got decent yields from bonds.  With historically low yield on bonds in many parts of the world, we now ask ourselves “where will returns come from going forward?”  Our panelists will review their thoughts on how bonds can still play important roles in portfolios and how we can make our bond portfolios work even harder to deliver returns while playing those important roles. Maybe we do need to break the bond and consider other types of fixed income outside of our comfortable bond indices.  We may need to venture into the world of commercial mortgages, private debt, multi asset credit, emerging market debt, and unconstrained fixed income strategies to get the returns we need.

3. The ESG Experience: Different Approaches to ESG-ing a Portfolio

Facilitator: Monika Freyman, Head of Responsible Investment, Canada

Panelists:
Hyewon Kong, Vice President, Responsible Investing, Investment Management Corporation of Ontario (IMCO)
Annette Aquin, Executive Vice President, Finance and Operations, Hamilton Community Foundation
Francesca Adibe, Senior Manager, Risk Management, CBC Pension Fund

Developing a responsible-investing approach is a journey and there is no single way to integrate ESG into decision-making. Hear and explore how some asset owners are creating an approach to ESG and climate change that is uniquely their own, and how they are applying ESG into day-to-day practice.

4. How Healthy is Your DC Plan: Retirement Readiness Barometer

Facilitator: Roddy MacKenzie, Investment Consultant, Toronto

Panelists:
Neil Lloyd, Wealth Leader, Western Canada
Bernadette Chik, Senior Investment Consultant, Toronto

Leading with empathy and finding ways to support employees more holistically have been key themes during this pandemic. What challenges and opportunities exist in the US vs. Canada to better support employees on their financial wellness journey? During this panel discussion, we explore how using a ‘retirement readiness’ lens can challenge conventional thinking on what makes a company retirement or savings program successful.

5. Endowment and Foundations Funds’ Response to a Low Expected return Environment: A Discussion

Facilitator: Peter Hallett, Senior Investment Consultant, Vancouver

Panelists:
Mark Campbell, Trustee and Chair, Investment Committee of the Kisoniyaminaw Heritage Trust Fund
Susan Hagemeister, Director of Finance, The Winnipeg Foundation

Endowments and foundations rely on income and gains from their investment portfolios to fund operations and support mission objectives. Expansionary monetary policy has resulted in low fixed income yields, and uncertain long term growth prospects and elevated equity valuations have led to lower expected equity returns going forward. At the same time, many endowments and foundations want their investments to reflect their ESG beliefs. How have endowments and foundations responded to the lower expected return environment? How have they dealt with the pressure of their various stakeholders with regards to ESG? In this breakout session, our panelists will provide insights into how their respective organizations are dealing with these issues and challenges.

1 . Transformational Investing: Addressing Systemic Risks for Long-term Investment Success

Ashley Knight, Mercer’s Fellow at the World Economic Forum
Peter Grant, Senior Investment Consultant, Norwalk

We’re very excited to share recently completed research with the World Economic Forum that explores the advanced investment practices of asset owners around the globe. The research focused on the most complex issues of our time (for instance, climate change, low/negative interest rates and technological evolution).

The research findings were informed by over 200 interviews with the investment community and an asset-owner survey – representing more than $3.4 trillion in aggregated assets – that highlighted how investors integrated the trends. We also share insights about a climate change self-assessment framework that incorporates the steps that advanced organizations take and the lessons learned through their transformational investment journeys.

2. Breaking the Bond: Where Will Returns Come From Going Forward?

Facilitator: Todd Saulnier, Senior Investment Consultant, Ottawa

Panelists:
Jeff Bunce, Asset Class Specialist, Fixed Income Boutique
Marlene Puffer, President and CEO, CN Investment Division

Over the years, bonds have played an important role in investor portfolios, whether it be a liquidity source, a liability-hedging asset, a diversifier or even a tail-risk hedging asset. Decades ago, we also got decent yields from bonds.  With historically low yield on bonds in many parts of the world, we now ask ourselves “where will returns come from going forward?”  Our panelists will review their thoughts on how bonds can still play important roles in portfolios and how we can make our bond portfolios work even harder to deliver returns while playing those important roles. Maybe we do need to break the bond and consider other types of fixed income outside of our comfortable bond indices.  We may need to venture into the world of commercial mortgages, private debt, multi asset credit, emerging market debt, and unconstrained fixed income strategies to get the returns we need.

3. The ESG Experience: Different Approaches to ESG-ing a Portfolio

Facilitator: Monika Freyman, Head of Responsible Investment, Canada

Panelists:
Hyewon Kong, Vice President, Responsible Investing, Investment Management Corporation of Ontario (IMCO)
Annette Aquin, Executive Vice President, Finance and Operations, Hamilton Community Foundation
Francesca Adibe, Senior Manager, Risk Management, CBC Pension Fund

Developing a responsible-investing approach is a journey and there is no single way to integrate ESG into decision-making. Hear and explore how some asset owners are creating an approach to ESG and climate change that is uniquely their own, and how they are applying ESG into day-to-day practice.

4. How Healthy is Your DC Plan: Retirement Readiness Barometer

Facilitator: Roddy MacKenzie, Investment Consultant, Toronto

Panelists:
Neil Lloyd, Wealth Leader, Western Canada
Bernadette Chik, Senior Investment Consultant, Toronto

Leading with empathy and finding ways to support employees more holistically have been key themes during this pandemic. What challenges and opportunities exist in the US vs. Canada to better support employees on their financial wellness journey? During this panel discussion, we explore how using a ‘retirement readiness’ lens can challenge conventional thinking on what makes a company retirement or savings program successful.

5. Endowment and Foundations Funds’ Response to a Low Expected return Environment: A Discussion

Facilitator: Peter Hallett, Senior Investment Consultant, Vancouver

Panelists:
Mark Campbell, Trustee and Chair, Investment Committee of the Kisoniyaninaw Heritage Trust Fund
Susan Hagemeister, Director of Finance, The Winnipeg Foundation

Endowments and foundations rely on income and gains from their investment portfolios to fund operations and support mission objectives. Expansionary monetary policy has resulted in low fixed income yields, and uncertain long term growth prospects and elevated equity valuations have led to lower expected equity returns going forward. At the same time, many endowments and foundations want their investments to reflect their ESG beliefs. How have endowments and foundations responded to the lower expected return environment? How have they dealt with the pressure of their various stakeholders with regards to ESG? In this breakout session, our panelists will provide insights into how their respective organizations are dealing with these issues and challenges.

Brandon Perra, Real Estate Specialist, Alternatives
Michael McGowan, Senior Infrastructure Specialist, Alternatives

Can we say it’s different this time? The global pandemic caused by COVID-19 was the defining event of 2020, and is likely to be for 2021. This session explores the impact the pandemic has had upon infrastructure and real estate markets, and what we consider to be the lasting effects of this great disruption. We look at how investors should reposition existing, or build out new portfolios and share our views of where the next opportunities will arise.

Angelita Graham, Toronto Officer Leader

Chair: Stéphanie Mariamo, Senior Investment Consultant, Montreal

Kimberley Hart, Senior Investment Consultant, Toronto
Jonathan Croft, Senior Investment Consultant, Halifax

We have seen unprecedented monetary and fiscal stimulus to help us through the pandemic. Economists have been dividing into the same camps as in 2009.

The first camp is worried that inflation is returning. They believe that policymakers have not only overstimulated the recovery but — unlike after the global financial crisis — this time stimulus has gone straight into the real economy.

The second camp is less optimistic on the recovery and less worried about inflation because there is a risk that COVID-19 has fed into the ongoing trend of secular stagnation.

Our speakers attempt to persuade you of the merits of their respective viewpoints on this topic, the resolution of which may have a profound impact on future asset-class returns.

Ravin Jesuthasan, Global Leader, Transformation Services
Amy Richards, Global Investment Forums Director

Satya Nadella famously said that we have seen a two-year trend in digitalization accomplished in two months. The impact on the future of work has been far more profound, as the combination of digitalization and the democratization of work compresses a five-year trend into five months. This is requiring organizations to transform at unprecedented pace. But this transformation is not just about business models and technology — it is ultimately about human change. As the world prepares to emerge from the pandemic, organizations are rightly asking the question as to how they can continue to transform their operating models to be more resilient, flexible and agile.

Jaqui Parchment, CEO, Canada