The NASP Institute 2018

Monday, June 4, 2018
The NASP Institute is a robust educational forum exclusively for members of the pension plan, foundation, and  endowment community. The specific courses are designed to serve a wide range of skill levels and are in an  instructional style format. 

Learning Objectives:
After completing this course, you should be able to:
  • Develop and apply a framework for creating a culture based on ethics, integrity, and professionalism within your organization
  • Identify and define three traditional and alternative asset classes
  • Differentiate between market trends in the areas of active management, passive management, and multi-asset strategies
  • List two benefits to developing new strategies for asset allocation, risk management and fees
Number of CPE Credits: In partnership with PFM Asset Management LLC, NASP is pleased to offer five (5) CPE credit hours for The NASP Institute program. 4 credits are offered for finance as the field of study. 1 credit is offered for Ethics as the field of study.
Prerequisites: Basic knowledge about fiduciary responsibility and corporate governance within the financial industry.
Who Should Attend: The specific courses are designed to serve a wide range of skill levels. All members of the pension plan sponsor community, endowments and foundations – trustees, executive directors, chief investment officers, investment directors, treasurers and all other investment-related staff are welcome and encouraged to attend.
Advanced Preparation: None
Program Level: Basic
Delivery Method: Group Live

PFM Asset Management LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors.
State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE
Sponsors through its website:
7:45am – 9:00am                            
NASP Opening Plenary

Ethics and Fiduciary Responsibility  (Open to all attendees of the NASP Conference)
Dr. Michael McMillan, Ph.D., CPA, CFA, Director of Ethics and Professional Standards, The CFA Institute
The financial services industry recognizes the importance of creating a resilient and pervasive culture based on ethics and mutual understandings. This session will focus not only on tangible ways to instill high ethical standards into your company and organization but will also help you think about how to continue to promote integrity, ethics, and professionalism within your teams and in discussions with clients. Hear best practices on how to amplify your voices for reform and stability in the investment industry.
9:15am – 10:15am                          

Active vs. Passive – Room for Both?
Jeanell Novak, Senior Investment Product Manager - Multi Asset Class, The Capital Group
Bill Roach, President, GLOBALT
Ron Taylor, Vice President and Portfolio Specialist, T. Rowe Price              
Given the bull market that continues to push equity markets higher, many active managers have found it challenging to keep up leading asset owners to move assets to passive exposures. But, as valuations creep higher globally and uncertainty about the path ahead heightens, index investors may be in for a bumpy ride. In addition, many asset owners have high required rates of return but capital market assumptions are low so there’s a lower probability that market beta will provide the tailwind plan sponsors need to achieve their performance goals. With this as background, our instructors will discuss the merits of active and passive investing, whether now is the time to re-allocate to active management and provide a framework for combining active and passive to achieve the best outcome at a reasonable level of fees.
10:25am – 11:25am

Investing in Infrastructure – Presented by NASP USAID-MiDA Partnership 
Description to follow.
11:35am – 12:35pm                       

Constructing a Multi Asset Alternatives Portfolio
Bob Zenouzi, Chief Investment Officer, Real Estate Securities & Income Solutions, Macquarie
Bob DeBolt, Chief Investment Officer, Private Equity, Mesirow Financial 
Svein Floden, Head of Liquid Alternatives -Insight Investments, BNY Mellon
With rich equity valuations, low interest rates, tight credit spreads and much uncertainty about the path ahead, investors are increasingly turning to alternatives to enhance returns, mitigate risk and provide diversification. We’ll explore an asset allocation framework which asset owners should consider when allocating capital to non-traditional areas like hedge funds, private equity, real assets and liquid alternatives.
2:15pm – 3:15pm                                           

Seizing Fixed Income Opportunities
Lindsay Rosner, Investment Vice President, PGIM Fixed Income
Sam Ramirez Jr., President & CEO, Ramirez Asset Management
Natasha Brook-Walters, Director, Fixed Income Investment Strategy & Risk, Wellington Management
With low expected returns and the possibility for increasing interest rates, plan sponsors need to find ways to make their fixed income allocations work harder without introducing unintended risk to their overall portfolio. Even with tight spreads, the horizon seems to be more favorable for asset owners as dispersion across sectors increases. This session will discuss how to be more flexible and opportunistic including considering niche sectors and absolute return FI.
3:00pm – 4:00pm                            

Alternative Risk Premia: Is this Hedge Funds 3.0?
Perry Hollowell, Director, Senior Portfolio Manager – Enhanced Equities Group, Guggenheim Partners
Chris Walvoord,  Partner, Global Head of Hedge Fund Research, 

Asset owners have sought ways to achieve hedge fund-like exposure but with better transparency, liquidity and lower fees. Allocating to alternative risk premia is one path to consider. We’ll discuss what alternative risk premia is, what it isn’t and how best to access this space.

Attendance Policy
  1. In order to be awarded the full credit hours, attendees must be present, registering attendance and departure via badge scans on-site at the conference venue/session rooms.
  2. You are required to have your name badge scanned with the session attendance monitor each time you exit/enter the room for the duration of the session (i.e., bathroom break) with the applicable departure/arrival times. 
  3. You must also complete and submit the evaluation form (distributed on-site at the TNI) for each session that you wish to receive CPE credits for. You must complete the evaluation on-site. Please see a member of the NASP team with any questions.
  4. Once your attendance has been verified and evaluation form completed, you will receive a certificate of completion.
Refund Policy 
Transfers/substitutions are permitted. Substitute registrations may be made in advance or on arrival with no penalty. Refund request must be submitted in writing to 
Program Cancellation Policy 
Program cancelation would be notified via e-mail to general membership as well as registered attendees 5 business days in advance. The National Association of Securities Professionals shall not be responsible for personal accidents, losses or damage to personal property of registered attendees. Delegates should make their own arrangements with respect to personal insurance. In case of unforeseen circumstances, the National Association of Securities Professionals cannot be held responsible for any losses incurred by delegates. The National Association of Securities Professionals reserves the right to make changes to the program or speakers or to cancel the program if enrollment criteria are not met or when conditions beyond its control prevail. If the program is not held for any reason, liability is limited to the event/ conference fee only.