This Pension Executive Programme will provide a unique practical high-level insight into Portfolio Performance Measurement & Investment Risk Analytics, hence providing a compelling opportunity to exchange practical case study ideas on measuring, analysing and managing investment risk for pension funds and other institutional clients.

The African pensions landscape is going through unrivaled growth especially across Sub-Saharan Africa. Institutional savings across both pensions and insurance are growing at high rates in some of the leading markets in proportion with higher GDP growth rates especially in Kenya, Ghana and Nigeria. This growth trend has created an environment requiring unique risk analysis and investment performance measurement solutions.

The 2-day programme is structured such that the first day is based around a forum type discussion environment, infused by networking opportunities that will enable pension funds to engage their peers and advisers. The 2-day is a closed-door round table workshop designed to debunk the practical myth of investment performance and risk analysis of investment portfolios.

The programme will focus on challenges facing practitioners in their daily workplace, and adopts a case study approach. The sessions will include presentations of theory and fundamental principles as well as interactive elements, to encourage debate and discussion and discuss relevant case studies to help you to apply your knowledge.

After the programme a support network is built around participants, helping them integrate what they’ve learned.

This is a tailored high-level programme designed for pensions and insurance executives. The course is not only for specialists but for a wider audience including investment executives of all levels, institutional investors and research analysts.

  • Pension Funds – CEOs, EDs, Principal Officers & Trustees
  • Investment Managers – Portfolio, Asset and Fund Managers
  • Investment Professionals – CIOs, CFOs
  • Risk Executives – CROs, Fund and Portfolio Risk Managers
  • Liquidity & Liability Asset Managers & Executives

As well as:

  • Insurance Companies – CIOs, Risk Managers
  • Actuarial, Capital and Solvency Managers
  • Consultants – Risk, Pensions, Insurance, Actuarial
DAY ONE PROGRAMME

  • Welcome & Breakfast
  • Workshop & Discussions
  • Networking Break
  • Workshop & Discussions
DAY TWO PROGRAMME

  • Welcome & Breakfast
  • Workshop & Discussions
  • Networking Break
  • Workshop & Discussions
  • End of Africa Pension Executives Conference

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Thank you for your interest in the 2nd Africa Municipal Bonds Forum. You can download the event brochure for more detail, please complete the form below.

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AFRICA PENSION EXECUTIVES PROGRAMME

DAY ONE: TUESDAY, 30 JANUARY 2018

08:30

Opening Remarks / Setting the Scene
Michael Ndinisa
Group CEO,
MNCapital Group

09:00

The Evolution of Pension Funds in Africa (Part One)

– Current Asset Allocation Split Between Fixed Income and Equities (And Real-Estate?) on Local Markets.
– Types of Employer Pension Funds, Including DB Funds & DC Funds.

This session outlines a comprehensive overview into pensions landscape in Africa, including insights into State, Employer and Personal Pensions. Delegates will be able to identify key facts about Africa Pensions, how they are financed and monitored.

Elias Masilela
Executive Director,
DNA Economics

10:45

The Evolution of Pension Funds in Africa (Part Two)

– Progress and Key Challenges in Delivery of Adequate and Sustainable Pension Funds in Africa.
– Pension System in Specific Markets (Nigeria, Ghana, Kenya, Tanzania, Zambia, Zimbabwe, South Africa, Botswana, Namibia)

Elias Masilela
Executive Director,
DNA Economics

13:15

Pension Fund Trustees Duties & Responsibilities (Part One)

– Trustee Duties, Powers and Responsibilities
– Financial Pension Schemes
– Valuing Assets and Liabilities
– Key Investment Responsibilities
– Reporting By, And to the Trustees

This session focuses on practical duties and responsibilities of trustees to their members, investment mandate and the pension scheme. It adopts practical and case-study approach to engaging participants on skills-set needed to implement good trustee practice. Attendees will learn the theory of pension trustee stewardship, including what is expected from trustees in relation to scheme members, investment decisions and how to apply good scheme governance.

Bashkar Latchman
Independent Trustee and Principal Officer

15:00

Pension Fund Trustee Duties & Responsibilities (Part Two)
– Trustee Decision-Making
– Trustee Communications
– Conflict of Interest
– Employer Relations

16:00

How Inflation Affects Your Pension Investment:
– Understanding Inflation Uncertainties for Pension Schemes
– Measuring Inflation Risk on Pension Liabilities
– Understanding the Difference Between Various Measures of Inflation: RPI (Retail Price Index) vs. CPI (Consumer Price Index)
– Alternative Ways to Achieve Inflation Protection
– Hedging Strategies Using Inflation-Linked Physical Bonds or Swaps
– Pension Schemes and the Prospects of Inflation-Proof Strategies
– Basics of Liability Driven Investments (LDI) Strategies
DAY TWO: Wednesday, 31 January 2018

08:30

Reflections on Day One + Setting the Scene

09:00

Key Fundamentals for Investment Risks Analysis (Part One)
– Investment Risk in Context: Risk is About The Future, Not The Past
– Establishing the Time Horizon for Risk
– Risk Assessment of Illiquid Fund Assets Like Alternatives (PE and Real Estate)
– The Liquidity Risk of Pension of Pensions Investments
This session will assist attendees understand current issues in pension portfolio management, risk, and investment strategies, within the context of regulatory changes.

10:45

Key Fundamentals for Investment Risks Analysis (Part Two)
– The Risks of Underfunding and Financial Guarantees
– Measuring, Modelling and Managing Risks
– Impact of Longevity Risk

12:15

Capital Duration, Returns & Withdrawal Rates (Part One)
Simple Returns
– Capital Duration and What Influences the Duration of My Capital?
– Why Percentage Returns?
– Calculation of Simple Returns
– Aggregating Returns Over Time
– Aggregating Returns Across Portfolios with Weighting Schemes

14:30

Capital Duration, Returns & Withdrawal Rates (Part Two)
Returns with Contribution:

– The Impact of Contributions and Withdrawals to Capital Invested
– Money-Weighted Return
– Time-Weighted Return
– The Relationship Between MWR and TWR
– Industry Trend: Going in Circles – From TWR to MWR and (Maybe) Back

15:15

PE Fund Manager Due Diligence & Selection
– An Effective Private Equity Investment Policy Statement
– The Importance of Private Equity Manager Selection
– The Challenges of Private Equity Manager Due Diligence
– Private Equity Portfolio Construction
– The Typical Due Diligence Process (People, Process, Philosophy & Investment Strategy, Performance and Portfolio Fit and Legal Review)
– Manager Selection, The Complexities of The Asset Allocation and Investment Policy Statement
This session is designed to assist the attendees understand the basic principles of Private Equity fund manager due diligence & selection. These principles are to some extent transferable to other asset class investment managers.