Swiss International Forum

Lessons from Recent LDI Crisis in the UK – Risk Management (including Systemic Risk), Collateral Issues & Hedging Portfolios Going Forward?

Date:

15 March 2023 11:45 to 16:30

Venue:

Zunfthaus zur Zimmerleuten, Limmatquai 40, 8001 Zurich, Switzerland

Details:

While LDI hedging is not as widely used by Swiss pensions schemes, are there pertinent lessons that can be learnt from the LDI Crisis in the UK in 2022? We explored issues around liquidity, collateral management, broader hedging including currency hedging. Our speakers discussed the LDI Crisis, what happened and how this could relate to Swiss Pension Funds including learnings around risk management.

Lessons learnt from the UK crisis – Collateral, liquidity, leverage etc
Systemic risks specific for Switzerland given use of currency hedging and underlying collateral is not diversified efficiently. What happens in a currency shock and everyone has to sell collateral at the same time?
How a fully collateralised Pension Fund would manage in a CHF currency shock
Broader Hedging considerations going forward?
Boarder risk management issues
What are the problems with risk in an unsettled environment

Investing in Emerging Markets & China – Is Now the Time?

Date:

8 December 2022 11:45 to 16:30

Venue:

Zunfthaus zur Saffran, Limmatquai 54, 8001 Zurich, Switzerland

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Details:

With 2022 being a volatile year so far, inflation on the increase as well as monetary tightening underway in developed markets, just what should pension funds do to ensure they have a robust portfolio what can deliver the returns they need? In particular, while emerging markets have disappointed for the past decade or so, what is their outlook and should pension funds consider allocating to emerging markets today? What is the impact on EM from the current conflict and is this a risk or an opportunity?

Just what are the inherent risks in emerging markets today (whether equity or debt) and how can you plan to mitigate these?
A recent report analysed GDP of countries over last decade and potentially concluded that growth rate of non-democratic countries is lower. So what is the case for EM?
What are some of the challenges such as governance, costs and transparency and ESG issues to consider when investing in emerging markets today?
What are the opportunities both in debt and equity as pension fund boards look to decide on whether to increase or decrease their exposures to emerging markets either strategically and/or tactically?
Will the growth rate in emerging markets be sustained in light of the current situation and, if so, will it still lead to significantly higher than expected returns in asset classes?
How should schemes consider allocations to China and also frontier markets?
Diversification Benefits vs Value of investing in EM?
Which Index to use and which country to invest in today in light of the Russia/Ukraine conflict?

Benelux Forum – Belgian Meetings.

Benelux Forum – Dutch Meetings.

International Seminar.

Irish Pension Fund Investment Forum.

Money Purchase Pensions Forum.

Nordic Forum.

Pensioen Bestuurstafel.

Pension Trustees Circle.

Private Markets Investors Forum.

Southern Africa Pension Fund Investment Forum.