L&G Talks Asset Management

Whether we believe it or not, trust in the system is broken. Recent audit scandals have prompted reform and yet further reform is expected.  Having a robust audit committee is a pivotal aspect of improving the effectiveness and accuracy of auditing, and restoring trust. The audit committee has responsibility for the assurance framework for both financial and non-financial published numbers. As ESG data becomes more and more important for investors, this is a critical role.  In this episode, we talk to Sacha about why having a strong and empowered audit committee is so important for a company’s investors and some of the best practices he and his team have seen throughout the years. Featuring: ·           Sacha Sadan, Director of Corporate Governance·           Mark Chappel, Senior Content Manager We want to hear from you! Email us at [email protected] with your thoughts on the podcast and any suggestions of the guests or types of content you’d like to see covered. This podcast is intended for investment professionals, and shouldn’t be shared with a non-professional audience. This podcast should not be taken as an invitation to deal in Legal & General investments. Any views expressed during this recording belong to the individuals and are based on market conditions at the time of recording, and do not reflect the views of Legal & General Investment Management. Legal & General Investment Management is authorised and regulated by the Financial Conduct Authority. Legal & General Investment Management, One Coleman Street, London, EC2R 5AA. Register in England no. 2091894. All rights reserved. No part of this audio may be reproduced in whole or in part without the prior written consent of Legal & General Investment Management.

Meeting fund managers to talk about new products or their performance takes up so much of fund researchers’ time. With so many managers to meet, researchers like James have developed a number of strategies to make help them and others in the industry get the most from these meetings as possible. In this episode, we talk to James Calder and LGIM’s own Matthew Kemp about the City Asset Management approach and what they look for in a fund manager.  Featuring: ·           James Calder, Research Director, City Asset Management·           Matthew Kemp, Senior Investment Sales Manager, LGIM·           Mark Chappel, Senior Content Manager, LGIM  We want to hear from you! Email us at [email protected] with your thoughts on the podcast and any suggestions of the guests or types of content you’d like to see covered.  This podcast is intended for investment professionals, and shouldn’t be shared with a non-professional audience. This podcast should not be taken as an invitation to deal in Legal & General investments. Any views expressed during this recording belong to the individuals and are based on market conditions at the time of recording, and do not reflect the views of Legal & General Investment Management. Legal & General Investment Management is authorised and regulated by the Financial Conduct Authority. Legal & General Investment Management, One Coleman Street, London, EC2R 5AA. Register in England no. 2091894. All rights reserved. No part of this audio may be reproduced in whole or in part without the prior written consent of Legal & General Investment Management. 

It’s not often that you have to read full state constitutions as part of your role. But Brexit and the European political upheaval of recent years have transformed Hetal’s day-to-day work as an economist. LGIM’s foremost speaker on Brexit and European politics and economics, she has appeared on the BBC, Bloomberg, CNBC and more to filter the investment signals from the political noise. In this episode, Hetal talks about the reasons she loves economics (‘it’s maths, with more real-world results’), a path from investment banking to asset management, as well as her passion for cooking and her work as a qualified photographer. Featuring: ·           Hetal Mehta, Senior European Economist·           Mark Chappel, Senior Content Manager  We want to hear from you! Email us at [email protected] with your thoughts on the podcast and any suggestions of the guests or types of content you’d like to see covered.  This podcast is intended for investment professionals, and shouldn’t be shared with a non-professional audience. This podcast should not be taken as an invitation to deal in Legal & General investments. Any views expressed during this recording belong to the individuals and are based on market conditions at the time of recording, and do not reflect the views of Legal & General Investment Management. Legal & General Investment Management is authorised and regulated by the Financial Conduct Authority. Legal & General Investment Management, One Coleman Street, London, EC2R 5AA. Register in England no. 2091894. All rights reserved. No part of this audio may be reproduced in whole or in part without the prior written consent of Legal & General Investment Management.

This is an extraordinary moment for investors. Many asset classes have notched up double-digit returns over 2019, with equities hovering close to record highs even as trillions of dollars of bonds offer negative yields. But even though markets appear to underappreciate certain key risks, there are still reasons for investors to be cheerful.  In our final episode of the year, we talk to Sonja, CIO, and Emiel, Head of Asset Allocation, about why global growth may ultimately disappoint investorseven as recession fears abate, the many ways in which the US election could disrupt markets appear under-priced, and why a style rotation from growth to value could have a significant impact in 2020.   Read the full investment outlook for the year ahead here: https://www.lgim.com/uk/en/insights/our-thinking/market-insights/cio-outlook-year-of-change.html?cid=lgimtalks   Featuring: ·           Sonja Laud, Chief Investment Officer·           Emiel van den Heiligenberg, Head of Asset Allocation·           Max Julius, Head of Content  We want to hear from you! Email us at [email protected] with your thoughts on the podcast and any suggestions of the guests or types of content you’d like to see covered.  This podcast is intended for investment professionals, and shouldn’t be shared with a non-professional audience. This podcast should not be taken as an invitation to deal in Legal & General investments. Any views expressed during this recording belong to the individuals and are based on market conditions at the time of recording, and do not reflect the views of Legal & General Investment Management. Legal & General Investment Management is authorised and regulated by the Financial Conduct Authority. Legal & General Investment Management, One Coleman Street, London, EC2R 5AA. Register in England no. 2091894. All rights reserved. No part of this audio may be reproduced in whole or in part without the prior written consent of Legal & General Investment Management.

In this special episode, Michelle Scrimgeour reflects on her career through asset management and her first five months as CEO of Legal & General Investment Management. From her time at Blackrock, M&G, Columbia Threadneedle and now LGIM, it’s clear that the City has not just become more international but also more inclusive “Culture is critical”, she says. “Joining LGIM was a different role again and I wanted to join somewhere with a strong culture and that I could quickly feel a part of in a natural way.”  Talking with Sarah Aitken, Head of Distribution, they discuss key megatrends that face asset managers from ESG, “no longer a nice-to-have”, to the shifting technological and regulatory landscapes. As she looks ahead, creating a resilient business comes down its purpose, “we’ve got to stay true to our core. The purpose of an organisation becomes hypercritical when the world is changing around you.”   Featuring:  ·         Michelle Scrimgeour, Chief Executive Officer, LGIM·         Sarah Aitken, Head of Distribution, LGIM  We want to hear from you! Email us at [email protected] with your thoughts on the podcast and any suggestions of the guests or types of content you’d like to see covered.  This podcast is intended for investment professionals, and shouldn’t be shared with a non-professional audience. This podcast should not be taken as an invitation to deal in Legal & General investments. Any views expressed during this recording belong to the individuals and are based on market conditions at the time of recording, and do not reflect the views of Legal & General Investment Management. Legal & General Investment Management is authorised and regulated by the Financial Conduct Authority. Legal & General Investment Management, One Coleman Street, London, EC2R 5AA. Register in England no. 2091894. All rights reserved. No part of this audio may be reproduced in whole or in part without the prior written consent of Legal & General Investment Management.

With over $15 trillion in negative yielding bonds in the market, a decade of loose monetary policy has left developed market yields languishing and investors on the hunt for sources of higher return. Enter emerging market debt. At a market size of over $12 trillion, this can no longer be considered a niche asset class.  Cashflow matching strategies are customised investment solutions, designed to enable clients such as pension schemes or insurance companies to meet their liabilities. In this episode, we discuss how emerging market fixed income has an important role to play in designing cashflow matching strategies. ·         John Grey, Emerging Market Credit Analyst·         Karen Ng, Buy & Maintain team·         Toby Orpin, Senior Solutions Distribution Manager Read the team’s full article here: https://www.lgim.com/uk/en/insights/our-thinking/client-solutions/missing-piece-of-the-cashflow-matching-puzzle.html?cid=lgimtalks 

We want to hear from you! Email us at [email protected] with your thoughts on the podcast and any suggestions of the guests or types of content you’d like to see covered.

This podcast is intended for investment professionals, and shouldn’t be shared with a non-professional audience. This podcast should not be taken as an invitation to deal in Legal & General investments. Any views expressed during this recording belong to the individuals and are based on market conditions at the time of recording, and do not reflect the views of Legal & General Investment Management. Legal & General Investment Management is authorised and regulated by the Financial Conduct Authority. Legal & General Investment Management, One Coleman Street, London, EC2R 5AA. Register in England no. 2091894. All rights reserved. No part of this audio may be reproduced in whole or in part without the prior written consent of Legal & General Investment Management.

Governance is at the heart of what The Pensions Regulator (TPR) does because good governance means good outcomes for members. With a wealth of new statutory guidance coming into force, especially in such areas as ESG, Anthony has been instrumental in delivering education and support to help trustees find their way through this new regulatory landscape.  Joining us at our DB/DC Client Investment Conference earlier this autumn, Anthony discussed the work of TPR, its key areas of focus including the “21st Century Trusteeship” project and, of course, how incorporating financially material ESG factors into investments can help better prepare schemes for the future and manage long-term risks. This conversation was also recorded live! Find the full video on our YouTube channel here: https://www.youtube.com/channel/UCUmfV6VjfydEykC6QzXNPSQ/featured?disable_polymer=1   ·         Anthony Raymond, General Counsel and Director of Legal Services, The Pensions Regulator·         Mark Chappel, Senior Content Manager  We want to hear from you! Email us at [email protected] with your thoughts on the podcast and any suggestions of the guests or types of content you’d like to see covered. This podcast is intended for investment professionals, and shouldn’t be shared with a non-professional audience. This podcast should not be taken as an invitation to deal in Legal & General investments. Any views expressed during this recording belong to the individuals and are based on market conditions at the time of recording, and do not reflect the views of Legal & General Investment Management. Legal & General Investment Management is authorised and regulated by the Financial Conduct Authority. Legal & General Investment Management, One Coleman Street, London, EC2R 5AA. Register in England no. 2091894. All rights reserved. No part of this audio may be reproduced in whole or in part without the prior written consent of Legal & General Investment Management.

The world is facing a water crisis. If that sounds alarmist, consider a few statistics. The global per capita water supply has fallen by 56% since 1962, with 57% of aquifers having passed the tipping point. By 2025, 1.8 billion people are expected to be living in regions with absolute water scarcity and two-thirds of the world’s population will be living under water-stress conditions. Population growth is obviously a factor in this, but water shortages are also being aggravated by many other forces, from climate change to urbanisation. And even where there is plentiful water, it is becoming increasingly polluted. Cumulatively, this is forecast to lead to a deficit of at least 40% between the availability of and demand for fresh water in the next 10 years. Yet, as Aanand Venkatramanan explains in this episode, we need not despair if we act now. Clean water is one of the UN’s Sustainable Development Goals, and should attract investment of up to $23 trillion over the next 10-20 years. Aanand describes some of the most promising technologies that will help us meet this challenge, and sets out the opportunities they create for investors. For more insights into the investment opportunities in the market for clean water, visit: http://www2.landginvestments.com/l/26932/2019-07-10/6x5n3d/26932/108837/LGIM_ETF_CLEAN_WATER_BROCHURE.pdf  •             Aanand Venkatramanan, Head of ETF Investment Strategies•             Robert StGeorge, Content Manager We want to hear from you! Email us at [email protected] with your thoughts on the podcast and any suggestions of the guests or types of content you’d like to see covered. This podcast is intended for investment professionals, and shouldn’t be shared with a non-professional audience. This podcast should not be taken as an invitation to deal in Legal & General investments. Any views expressed during this recording belong to the individuals and are based on market conditions at the time of recording, and do not reflect the views of Legal & General Investment Management. Legal & General Investment Management is authorised and regulated by the Financial Conduct Authority. Legal & General Investment Management, One Coleman Street, London, EC2R 5AA. Register in England no. 2091894. All rights reserved. No part of this audio may be reproduced in whole or in part without the prior written consent of Legal & General Investment Management.

One the most engaging speakers at both LGIM’s Retail and DB/DC Client Conferences, Dr Paul Redmond is one of the foremost speakers on the subject of how different generations can work together most effectively. There has been so much written about millennials – what they want, what they don’t want, their expectations – that it can seem like this is really a generation that stands apart and sometimes in conflict with the others.  But according to Dr Redmond, this is far from the truth. While there are some characteristics unique to this generation, we all have a lot more in common than you might think. In this fascinating conversation, we discuss some of the innovative tips he has for managers – including ‘reverse mentoring’ – and the ways millennials can best learn from Generation X. This conversation was also recorded live! Find the full video on our YouTube channel here: https://youtu.be/hlh7LrdsUHk
 ·         Dr Paul Redmond, Director of Student Experience and Enhancement, University of Liverpool·         Mark Chappel, Senior Content Manager We want to hear from you! Email us at [email protected] with your thoughts on the podcast and any suggestions of the guests or types of content you’d like to see covered. This podcast is intended for investment professionals, and shouldn’t be shared with a non-professional audience. This podcast should not be taken as an invitation to deal in Legal & General investments. Any views expressed during this recording belong to the individuals and are based on market conditions at the time of recording, and do not reflect the views of Legal & General Investment Management. Legal & General Investment Management is authorised and regulated by the Financial Conduct Authority. Legal & General Investment Management, One Coleman Street, London, EC2R 5AA. Register in England no. 2091894. All rights reserved. No part of this audio may be reproduced in whole or in part without the prior written consent of Legal & General Investment Management. 

In an episode earlier this year, Howie Li and John Roe discussed what separates long-term investment themes from fads. As Howie explains, the enduring themes are those that are changing the foundations of how we live and work – from disruptive technology to the energy revolution and demographic shifts.

Yet capturing these themes in an investment strategy is not easy, so in this episode Howie addresses some recurring questions we’ve received from listeners and clients. How do we avoid companies exploiting thematic buzzwords for their own marketing purposes rather than genuinely innovating? What is the difference between a thematic and a sector-based investment strategy? How can investors integrate themes into their portfolios? Is it possible to time exposure to themes?

Howie covers all these challenging topics and more in this conversation, while also sharing practical examples of how we can put the theory of thematic investing into practice.

To find out more and read our full paper on thematic investing, visit: http://www2.landginvestments.com/disruptive-technology

·         Howie Li, Head of ETFs

·         Robert StGeorge, Content Manager

We want to hear from you! Email us at [email protected] with your thoughts on the podcast and any suggestions of the guests or types of content you’d like to see covered.

This podcast is intended for investment professionals, and shouldn’t be shared with a non-professional audience. This podcast should not be taken as an invitation to deal in Legal & General investments. Any views expressed during this recording belong to the individuals and are based on market conditions at the time of recording, and do not reflect the views of Legal & General Investment Management. Legal & General Investment Management is authorised and regulated by the Financial Conduct Authority. Legal & General Investment Management, One Coleman Street, London, EC2R 5AA. Register in England no. 2091894. All rights reserved. No part of this audio may be reproduced in whole or in part without the prior written consent of Legal & General Investment Management.