L&G Talks Asset Management

By L&GBusiness Investing

L&G Talks Asset Management episodes

June 27, 2019 57: Forecasting the next downturn, with Justin Onuekwusi and Emiel van den Heiligenberg
Question: Are people at parties talking to you about stocks? If the answer is ‘yes’ then (1) you could be going to the wrong sorts of parties or, more likely, (2) this could be a qualitative indicator that the economy is in ‘bubble’ territory. This episode looks at the ways investors can use quantitative and qualitative indicators to try and forecast the next economic recession. After a valiant attempt to explain the economic cycle in just one sentence, Emiel van den Heiligenberg, Head of Asset Allocation, discusses why the triggers of the next downturn will be different and why cycle dynamics means that resilient portfolio construction is more important than ever. Also joining the podcast is resident Yogi Berra expert and Head of Retail Multi-Asset Funds, Justin Onuekwusi, on how he integrates these indicators and behavioural economics into his portfolio strategy and how the market is ‘like déjà vu all over again’. To find out more about his eponymous ‘Heiligenberg Index’, read Emiel’s latest blog here: https://macromatters.lgim.com/categories/strategy/i-have-a-fascination-for-market-bubbles/?cid=lgimtalks · Emiel van den Heiligenberg, Head of Asset Allocation· Justin Onuekwusi, Head of Retail Multi-Asset Funds· Eliza Grimond, Content Manager We want to hear from you! Email us at [email protected] with your thoughts on the podcast and any suggestions of the 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.
24 min
June 19, 2019 56: ESG and the Independent Governance Committee: How FCA changes will affect your scheme
How will the FCA clarification that environmental, social and governance (or ESG) considerations are “financially material” risks affect the IGC’s approach to scheme oversight? Daniel Godfrey, LGIM IGC member and former chief executive of the Investment Association, discusses what the IGC’s expanded powers mean, what LGIM’s approach to ESG integration means for pensions, and future risks and opportunities. Simon Chinnery, Head of DC Client Solutions, explains what is top of mind for his clients, and what LGIM is doing to help.
28 min
June 13, 201955: Absolute return “a genre, not a sector”, with Richard Romer-Lee, Square Mile
The target absolute return sector has been unloved to say the least. With the offer of ‘investment nirvana’, as Square Mile’s Richard Romer-Lee puts it, these funds look to reduce volatility and still deliver performance in difficult markets. In this conversation, I sat down with Richard and LGIM’s own Head of UK Retail Distribution, James Crossley, to discuss whether this is a ‘genre, not a sector’, the top concerns he’s hearing from advisers and wealth managers, and how communication and transparency are crucial in managing investors’ risk and return expectations. This episode was recorded at the London Stock Exchange where Richard had just hosted a live webinar featuring a panel of industry experts on diversification, risk management and the role of alternatives in your portfolios. You can watch the whole webinar here:
https://event.on24.com/wcc/r/1990531/6AECE2D7A856E8A1ECEC782CF537ED32?partnerref=LGIMTalksDiversification
Richard Romer-Lee, Managing Director, Square Mile
James Crossley, Head of UK Retail Sales, LGIM
Mark Chappel, Senior Investment Writer, LGIM
We want to hear from you! Email us at [email protected] with your thoughts on the podcast and any suggestions of the 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.
28 min
June 07, 201954: In conversation with: Honor Solomon, Head of Retail, EMEA
Working in her father’s London clothes shop taught Honor two things: that she loved meeting people from all over the world, and that she also loved to sell. In her time in sales teams over her career, she has sought to surround herself with a talented team with great culture – a key combination which helps push everyone to perform to the best of their ability. In this episode of In Conversation With, we talk about the pain points for so many of her clients (regulation) and how no industry is immune to disruption (especially ours). In addition to her role, Honor also helped set up the Legal & General Inclusion Team which includes a focus on all areas of inclusion as well as providing support for those who look after both young children and ageing relatives – the ‘care sandwich’. With a black belt in karate and a dream to return to Japan, this episode travels the world of Honor Solomon and what brought her to asset management.
Honor Solomon, Head of Retail, EMEA
Mark Chappel, Senior Investment Writer
We want to hear from you! Email us at [email protected] with your thoughts on the podcast and any suggestions of the 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.
25 min
June 05, 201953: How boards can work best – Sacha Sadan, Director of Corporate Governance
Good governance is crucial to all boards, whether they oversee a FTSE 100 multinational, a multi-billion pound pension scheme or a national charity. There is no one-size-fits-all approach to how boards should be run but through Sacha and his team’s extensive experience in corporate engagement, they’ve learned that there are plenty of ways to evolve and enhance effectiveness. We know that pressures from executives, stakeholders, as well as the day-to-day oversight of the company or scheme, the role of a non-executive board member has never been more demanding. The increase in regulation and complexity of modern defined benefit and defined contribution schemes has concurrently increased the workload of pension trustees. This week’s episode looks at some of the best practices the Corporate Governance team have seen in place and the key areas which could help boards manage their many responsibilities. Read Sacha’s full article “Board effectiveness: Lessons from companies to trustees” here: http://www.lgim.com/uk/en/insights/our-thinking/client-solutions/?cid=lgimtalks
Sacha Sadan, Director of Corporate Governance, LGIM
Mark Chappel, Senior Investment Writer
We want to hear from you! Email us at [email protected] with your thoughts on the podcast and any suggestions of the 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.
34 min
May 29, 201952: Lord Stern at the LSE: The urgency, opportunity and acceleration of climate action
We’ve heard a lot about the need for urgent climate action in the past few months. Sobering documentaries from David Attenborough and hard-hitting activism from Greta Thunberg and the Extinction Rebellion have brought the issue to the forefront of people’s minds. Investors have a pivotal role in meeting the challenge of financing the transition to a low-carbon future and in finding the wealth of returns opportunities that a low-carbon transition presents. This week we’re coming to you from the studios at the London Stock Exchange after having interviewed the Lord Nicholas Stern, Chair of the Centre for Climate Change Economics and Policy. Lord Stern joined us for our panel webinar ESG: What to know and what to do with LGIM’s Head of Institutional Clients, Mark Johnson, and others on the importance of environmental, social and governance risks and opportunities to investments. Without a hint of irony, this episode recording was almost delayed due to Extinction Rebellion protestors having super-glued themselves to the entrance of the LSE. Watch the full webinar with Lord Stern here: https://youtu.be/3ldIlweafvY
LGIM has also co-written a practical guide to climate change for institutional investors: http://www.lgim.com/files/_document-library/capabilities/iigcc-guide-addressing-climate-risks-and-opportunities-in-the-investment-process.pdf
Lord Nicholas Stern, Chairman of the Grantham Research Institute on Climate Change and the Environment at the London School of Economics
Mark Johnson, Head of Institutional Clients
Mark Chappel, Senior Investment Writer
We want to hear from you! Email us at [email protected] with your thoughts on the podcast and any suggestions of the 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.
28 min
May 22, 2019 51: Should we move to a four day week?
Is a four day working week realistic — or desirable? Chris Jeffery from our Asset Allocation team and Lara Bernard-Villeneuve in our Active Fixed Income team have looked at the data and think it’s more than a leftist’s pipe dream. Set in the context of a history of declining working hours in industrialised countries, the move does not seem so stark – and need not necessarily trigger a drop in wages. In fact, the boost in productivity accruing to companies and countries who have trialled the measure is clear.
With investment implications that stretch from tipping the balance in the workforce away from labour and towards capital-intensive production methods, to a boon for leisure sectors and female participation, join us for an interesting discussion on the opportunities and risks of reduced working hours.
Read the latest insights from the Active Fixed Income team here: https://futureworldblog.lgim.com/asset-classes/bonds/
•    Chris Jeffery, Strategist, Asset Allocation
•    Lara Bernard-Villeneuve, Junior Portfolio Manager, Active Fixed Income
•    Mark Chappel, Senior Investment Writer
We want to hear from you! Email us at [email protected] with your thoughts on the podcast and any suggestions of the 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.
32 min
May 17, 2019 50: In conversation with: Madeleine King, Co-Head of Pan European Investment Grade Research
In this episode, we talk to Madeleine about her path from netball to new issues. Growing up in Lancashire, she studied Mathematics and Economics, before starting her career on the fixed income floor at Barclays. Having moved from investment banking to asset management nearly four years ago, she can no longer call herself a newbie. Madeleine talks through the changes she has seen so far during her time in the industry, including an increased collaboration with the Corporate Governance team on environmental, social and governance considerations.
Her best piece of advice for new starters in fund management? Don’t plan your career; just let it happen!
Read the latest insights from the Active Fixed Income team here: https://futureworldblog.lgim.com/asset-classes/bonds/
• Madeleine King, Co-Head of Pan European Investment Grade Research
• Mark Chappel, Senior Investment Writer
We want to hear from you! Email us at [email protected] with your thoughts on the podcast and any suggestions of the 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.
20 min
May 15, 2019 49: Behind the scenes with Active Equities: Access to management
Once again we’ve gone behind the scenes to find out how LGIM’s investment teams manages funds. The Active Equities team places a major emphasis knowing the companies in which they’re invested inside and out. This could be anything from knowing how a company will respond to a competitor’s latest innovation to how their strategy will hold up for the next 10 or 30 years.
It’s all about building that conviction in the investment case and why corporate engagement and access to management is so important. I sat down with Shaunak Mazumder, Senior Fund Manager, and Matthew Courtnell, Equities Product Specialist, to talk more about how concentrated portfolios can be managed with a collaborative, sustainable and long-term mind-set.
Read the latest insights from the Active Equities team here: https://futureworldblog.lgim.com/asset-classes/equities/
•    Shaunak Mazumder, Senior Fund Manager
•    Matthew Courtnell, Equities Product Specialist
•    Mark Chappel, Senior Investment Writer
We want to hear from you! Email us at [email protected] with your thoughts on the podcast and any suggestions of the 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.
31 min
May 09, 2019 48: Allocate nimbly and diversify with purpose
It’s said that the only thing that goes up in falling markets is correlation. Diversification across uncorrelated assets, differentiated sources of returns, and foreign currency exposure can help provide natural risk hedges and still deliver the performance sought by investors. This week, we’re talking to members of LGIM’s Asset Allocation team about why investors need to diversify with purpose and the importance nimble asset allocation.
Find out more about keeping asset allocation nimble and sign up to our live webinar on portfolio diversification (6 June) here: http://www2.landginvestments.com/staynimble
•    Chris Teschmacher, Fund Manager, Asset Allocation team
•    Duncan Weldon, Strategist, Asset Allocation team
•    Mark Chappel, Senior Investment Writer
We want to hear from you! Email us at [email protected] with your thoughts on the podcast and any suggestions of the 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.
28 min

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What does a changing world mean for my portfolio? Which asset classes are undervalued? Will declining demographics affect my investments? From L&G’s Asset Management division, we bring you conversations about the global economy and how professional investors can take advantage of these opportunities.