Managing an $11BN Pension Plan

Managing an $11BN Pension Plan | Allocator 22

Рет қаралды 280

3 ай бұрын

Christophe L’Ahelec, Managing Director of Public Markets at University Pension Plan Ontario, joins Alan Dunne in this episode to discuss their approach to managing the C$11bn defined benefit pension plan. We discuss the high level Strategic Asset Allocation of the plan and also how the changed macro environment in recent years has motivated a shift in the asset allocation towards more absolute return strategies. Such strategies play a dual role of diversification and return enhancement for UPP and we discuss how Christophe thinks about an appropriate strategy allocation within absolute return. We also delve into the challenges of manager selection and evaluation, why it is important to remember that you are buying an “investment process” not historical returns when allocating to managers and discuss when is it appropriate to remove a manager and when not.
#toptraders #investing #trendfollowing
Episode Summary
02:50 - Introduction to Christophe L'Ahelec
07:06 - A new initiative
10:01 - What kind of strategy drives their asset allocation?
12:40 - What goes into which bucket?
14:45 - What makes absolute return exposure more attractive at the moment?
16:31 - Constructing an absolute return portfolio
18:38 - How they approach trend following
21:58 - Why do they use leverage?
23:32 - What do they expect from their portfolio?
25:12 - Managing liabilities
27:58 - Public equities - where do they stand?
30:59 - Investing in niche strategie
34:11 - How they evaluate managers
36:21 - Open to early stage manager risk?
41:42 - What makes a manager stand out?
44:56 - When should you remove a manager?
46:47 - What is their governance process?
50:36 - How they make decisions as a team
52:20 - Advice for new investors
55:34 - Thanks for listening
Full episode can be found here:
toptradsersunplugged.com/alo22
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Пікірлер: 2

@protomatala180 3 ай бұрын

thanks for insight

@StoicMadman Ай бұрын

shocking to me that any pension plan would dedicate assets to net zero and climate technologies. Most of these investments have been awful. Furthermore a canadian pension plan would likely have a large allocation to energy and materials since they comprise a large part of the market. So essentially you are investing 'polluters' as well as green at the same time. For me if someone believes in climate change and wants to donate money or avoid certain investments then do it with your own money, not the pension plan's.