Toronto, ON

Wednesday January 22nd &
Thursday January 23rd, 2020

2019 Agenda

January 30, 2019
  • 7:30 AM
    Registration and Breakfast
  • 8:15 AM
    Opening Comments
  • 8:30 AM
    KEYNOTE: ECONOMIC CLIMATE
    Global and North American Outlook and the Implications for Investors: A Look Ahead Through 2020
    Avery Shenfeld
    Managing Director and Chief Economist, CIBC Capital Markets, CIBC World Markets Inc.

    How will the global and North American economic backdrop impact financial markets in the years ahead? Get the latest economic outlook to overcome market volatility for your organization. Source intelligence to:

    • Assess whether global growth is set to slow
    • Determine which way ahead for central banks
    • Anticipate how commodities, bond markets, equities and currencies will respond

    Steering your portfolio through the next phase of the cycle.

  • 9:15 AM
    CASE STUDY: MANAGING LATE CYCLE RISK
    How to Manage the Final Stages of a Bull Market and Increase Your Returns
    Joshua Fenton
    Director of Investments, Helmsley Charitable Trust

    The final stages of a bull market are often surprisingly profitable. Managing this high return vs. high risk reality heightens the importance of accurately managing investments late in the market cycle. Discover how to give up some upside in the late stages of a market cycle by moving to cash/bonds to protect your asset base. Take away a plan to:

    • Develop an investment program from zero
    • Manage against two separate investment objectives
    • Adjust investment goals: allowing for some market underperformance for a long-term benefit

     

  • 9:45 AM
    Industry Expert: Committee Decision-Making
    Positively Impact your Committee Decision-Making
    Peter Muldowney
    Senior Vice-President, Connor, Clark & Lunn Financial Group

    Investment committees are typically comprised of volunteers with significant investment experience. To make effective decisions, it’s critical to be aware of biases and influences that can negatively impact decisions. Take back to your office strategies to:

    • Create awareness of the major biases and influencers
    • Provide insights on how to improving decision-making dynamics for positive outcomes
    • Get the most out of your investment committee

    Enhance committee decision making through best practices

  • 10:15 AM
    Morning Break
  • 10:45 AM
    INDUSTRY EXPERT:
    Enhancing Portfolio Performance with Gold
    Matthew Mark
    Director, Asset Owners/Distribution, World Gold Council

    Investment demand for gold has grown 18% per year, on average, since 2001. Today, in an environment of increasing market volatility and geopolitical risks, gold is more relevant than ever for institutional investors seeking returns, low correlations, liquidity, and diversification opportunities. This discussion will explore factors that influence gold’s performance and analyze portfolio impacts relative to other asset classes.

  • 11:15 AM
    INDUSTRY EXPERT: HSBC GLOBAL ASSET MANAGEMENT
    Staying at the Forefront of Climate Change
    Sandra Carlisle
    Senior Responsible Investment Specialist, HSBC Global Asset Management

    Exploring how institutional investors can stay at the forefront of climate change and how to achieve enhanced equity returns through a clear investment rationale while integrating ESG factors.

  • 11:45 AM
    CASE STUDY: THE ILLIQUIDITY PREMIUM
    How to Increase Your Returns by Harnessing the Illiquidity Premium
    Nick Bakish
    President, Sierra Club Canada

    The concept of buying illiquid assets as a long-term investment for endowments has been popularized by David Swensen, CIO of the Yale Endowment fund. Achieve excess returns for your organization by investing in illiquid investments like real estate, private equity/venture capital, and even timber. This session will explore
    This session will explore:

    • Using private debt to provide excess returns over traditional bonds
    • How adding alternatives can reduce risk due to lower correlation and increase returns
    • Strategies for using income provided for endowment, while the principal increases over time

    Understand how the Illiquidity Premium works to increase your returns.

  • Track A
    • 12:15 PM
      Challenging Investment Beliefs: Providing guidance to your investment committee
      Adam Hornung
      Associate Director of Investment Strategy, Russell Investments Canada Limited

      A holistic approach to managing your not-for-profit pool is critical. How do you achieve investment returns while being consistent with your organization’s mission and investment beliefs? In this session, we will discuss:

      • Understanding who owns the investment beliefs
      • Defining your investment beliefs – a practical approach
      • How to challenge the investment belief structure – should
        they evolve or are beliefs fixed in stone?
      • Capturing your beliefs in governance documentation
    Track B
    • 12:15 PM
      The Rise of Real Assets: How and why non-profit investors are using real assets to help achieve their missions
      Darren Spencer
      Director, Client Portfolio Manager, Alternative Investments, Russell Investments

      Real assets have become an integral part of the investment landscape in Canada. Indeed, Canadian institutional investors are widely recognized as leaders in Infrastructure and Real Estate investing by their global peers. But how can non-profit organizations capture the advantages, and manage the risks, associated with these asset classes? Join us for the opportunity to learn about key trends impacting real asset investing today including:

      • The investment case for Real Assets
      • The spectrum of available investment opportunities
      • Overcoming implementation challenges in Infrastructure
      • “Domestic-to-Global” ~ the case for gaining exposure to global Real Estate
  • 12:45 PM
    Networking Lunch
  • 1:45 PM
    INDUSTRY EXPERT: GREYBROOK REALTY PARTNERS INC.
    Active Real Estate Investment Strategies: An Opportune Time for Multifamily Value-Add Real Estate
    Sasha Cucuz
    CEO, Greybrook Securities Partner, Greybrook Capital

    Institutional real estate allocations are skewed towards passive core and core-plus strategies, however incremental investment flows in recent years have been biased to active strategies including value-add. Multi-family value-add investment programs are especially well positioned in the current environment given their defensive nature and as rent growth continues to play catch up with price appreciation. There remains the ability to drive income growth through varying market conditions as executing on a well-planned value-add program helps to offset potential market risks should they present.

  • 2:15 PM
    Case Study: Impact Investments
    Review Mission-Driven Impact Investment Strategies to Meet your Mandate
    Kathryn Wortsman
    Fund Manager, MaRS Catalyst Fund

    Organizations are re-thinking the way they are investing in causes closest to their missions. Create a business case for philanthropic investment to drive value for returns. Master the success factors to:

    • Focus on reducing greenhouse gas emissions at scale
    • Support healthcare and personalized medicine
    • Invest in education and transform pedagogy through interactive tools

    Develop your mission-related investment strategy while driving results.

  • 2:45 PM
    Case Study: High Yield Bonds
    Harness The Benefits Of Role Of High Yields Bonds In Your Portfolio To Increase Returns
    Mario Lavallée
    Professor, Université de Sherbrooke

    Adding a high yield bonds to a portfolio can be beneficial for investors looking to increase their income/return potential but are hesitant to increase their equity risk. Discover the pros and cons of incorporating HYB to your portfolio. Take away a plan to:

    • Include HYB into your asset allocation to improve the risk-return trade off
    • Clarify the impact of HYB for non-taxable investors with regular cash flows needs
    • Take advantage of downside risk and the time to recuperate the loss

    Change the way you look at HYB and incorporate them into your portfolio

  • 3:15 PM
    Afternoon Break
  • 3:45 PM
    INDUSTRY EXPERT: SECURITY TOKENS
    How to Leverage Security Tokens as a New Investment Strategy
    Jack J. Bensimon
    Chair, Endowment Fund, Technion Canada / Technion, Israel Institute of Technology

    Digital assets and cryptocurrencies have seen a recent explosion in growth. But despite some obvious benefits of digital assets and cryptocurrencies, institutional investors have been slow to fully engage in this asset class. Find out how you can use security tokens via Security Token Offerings (STOs), to invest in cryptocurrencies. Take away strategies to:

    Take away strategies to:

    • Understand what Digital Asset Issuances (Dais) are
    • How security tokens can be used in your investment strategy
    • Clarify the risks associated with Dais

    Innovate your investment strategy with new cryptocurrency technology

  • 4:00 PM
    Panel Discussion
    Cryptocurrencies As A Viable Asset Class For Endowments & Foundations
    Jack J. Bensimon
    Chair, Endowment Fund, Technion Canada / Technion, Israel Institute of Technology
    Rebecca Spour
    Chief Operating Officer, Stealth_mode
    Jai Waterman
    Co-founder, CTO, Blockstation

    Institutional investors have been holding off on investing in the fledgling cryptocurrency asset. However, there is a small and growing group of endowments and foundations who see cryptocurrencies as a viable asset class with tremendous upside. Examine the issues involved assessing the risks and opportunities of investing in cryptocurrencies:

    • Laying the groundwork to invest in cryptocurrencies
    • Addressing the issue of volatility, security concerns and headline
    • Assessing cryptocurrency index funds that are targeting institutional asset owners: custody issues

    Employ active ownership to achieve investment and mission goals

  • 5:15 PM
    Conference Adjourns
January 30, 2019
January 31, 2019
  • 7:30 AM
    Registration and Breakfast
  • 8:15 AM
    Opening Comments
  • 8:30 AM
    Keynote: Social Trends
    A New Financial Reality for Social Good
    Bruce MacDonald
    President and CEO, Imagine Canada

    The financial picture for Canada's charities and nonprofits is undergoing a profound change. For decades, citizens have come to both benefit from and expect services that they can access from these organizations in their communities. This session will take a look at the changing financial climate including an examination of Canada's looming Social Deficit. Questions will be posed about how adaptation and innovation can take place in the coming years.

  • 9:10 AM
    INDUSTRY EXPERT: MANULIFE Real Assets
    The Case for Inclusion in Endowment & Foundation Portfolios
    Patrick Murray
    Global Multi-Asset Client Portfolio Specialist , Manulife Asset Management

    Outside of the diversification benefits, real assets provide a healthy and high proportion of income compared to most public market securities, making them an ideal asset class for endowments and foundations. Real Assets can also be used to provide a much better commodity factor exposure than what you would find in the energy and materials space within public market securities.

  • 9:30 AM
    INDUSTRY EXPERT: HORIZONS ETFs MANAGEMENT (CANADA) INC.
    Low Cost Index Investing – Low Fees, Perfect Tracking, Tax-Efficient

    Horizons ETFs believes that indexing should be as low cost as possible. Fees are only a part of that cost. Tracking error and after-tax considerations are as important. Learn how Horizons ETFs combines these three elements into their Total Return Index ETFs.

  • 9:45 AM
    Industry Expert: JARISLOWSKY FRASER
    The Evolution of the Canadian Market
    Charles Nadim
    Co-Head of Equities & Portfolio Manager, Canadian Equities, Jarislowsky Fraser

    The Canadian market represents one of the best markets to invest in today, driven by our country’s growth potential, solid balance sheet, superior corporate governance and attractive valuations. The discussion will show where we see highly attractive opportunities in Canada, based on our set of strict investment criteria and consideration of ESG factors.

  • 10:15 AM
    Morning Break
  • 10:45 AM
    Case Study: Reponsive Investing
    Achieving A Double Bottom Line by Adopting a Responsive Investing Approach
    Simba Ndemera
    Chief Financial Officer, Sierra Club Foundation (U.S.)

    Responsive Investing is no longer “niche,” but still not “vogue”. While many investors express concern that RI strategies generate lower returns, studies have historically indicated otherwise. Harness the benefits of RI in your organization to increase returns.

    Take away strategies to understand:

    • How RI asset class investments compare on the risk/reward spectrum
    • How to implement an RI investment program
    • The performance debate: analyzing ESG ratings and correlation

    Address potential opportunities, challenges, and solutions in RI investing in your organization

  • 11:30 AM
    Panel Discussion: Conducting An Effective Investment Manager Search
    A Practical Implementation Guide to Improve Your Money Manager Search, Selection and Evaluation
    Sandra Hawken
    President and CEO, Holland Bloorview Kids Rehabilitation Hospital Foundation
    Jory Cohen
    Director of Social Finance and Investment, Insprit Foundation
    Erik Mathiesen
    Chief Financial Officer, Mission through Finance, The United Church of Canada

    Mitigate risks, meet due diligence, and enhance performance through manager selection. Acquire tricks of the trade and avoid pitfalls when conducting your own search. Learn how to:

    • Staff an investment committee with diversified expertise
    • Design and implement a systematic selection process
    • Uncover the process for conducting a manager search that prioritizes positive impact

    Determine how to search and select asset managers for your mandate.

  • 12:15 PM
    Networking Lunch
  • 1:15 PM
    Case Study: Achieving Financial and Mission-Related Returns
    Successfully Balance Mission and Financial Returns in Your Investments
    Julia Langer
    CEO, The Atmospheric Fund

    Endowments must find the right balance between achieving both financial and mission-related returns. Achieve risk-adjusted financial returns, urban carbon reduction results and mobilization of capital into low-carbon solutions by demonstrating and de-risking opportunities in your organization. Get insight into:

    • Aligning investment policy and beliefs
    • Establishing governance and internal capacity for impact investing
    • Setting performance and metrics for evaluation of impact

    Deploy more of your money in alignment with your mandate

  • 1:45 PM
    CASE STUDY: BLENDED FINANCE
    Successfully Balancing Purpose and Profit in a New Era of NFP Investment
    David O’Leary
    Director of Impact Investing, World Vision Canada
  • 2:15 PM
    Afternoon Break
  • 2:45 PM
    Panel Discussion
    Mission-Related Investment Best Practices
    David O’Leary
    Director of Impact Investing, World Vision Canada
    Elena Haba
    Director of Investments (Acting), EWB Ventures, Engineers Without Borders (EWB) Canada
    Jocelyn Mackie
    Co-CEO, Grand Challenges Canada
    Annette Aquin
    Executive Vice-President, Finance & Operations, Hamilton Community Foundation

    Impact investment’s definition remains broad, and various options exist. Explore impact investing avenues and develop strategies to achieve your mandate. Get practical insights from case studies to:

    • Align investment priorities with your mandate
    • Assess opportunities in the marketplace
    • Develop your social and financial success metrics

    Develop your mission-related investment strategy based on best market opportunities.

  • 4:00 PM
    Case Study: Active Ownership
    Developing a Framework for Effective Responsible Investment Goals
    Kevin Thomas
    Executive Director, SHARE Canada

    As an active owner, endowments engage with companies and managers they invest in. Actively manage environmental, social, and governance practices to preserve long-term shareholder value and enhance your long-term returns. Take away strategies to:

    • Enhance shareholder engagement and voting issues
    • Advance your mission through shareholder voice
    • Produce positive environmental, social, or governance impacts in public markets

    Employ active ownership to achieve investment and mission goals

  • 4:30 PM
    Conference Adjourns
January 31, 2019

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