CERN PF’s Target Return: Assumptions and Implications
2
A review of the risks implied by CERN Pension Fund’s target return under the current portfolio, and the key assumptions underlying the current investment strategy
3
A Historical Perspective on Relative Investing
a)
An examination of the contrast between CERN Pension Fund’s return target, which is expressed in absolute terms (5%) and the current investment approach, which is based on relative returns
12:30
Lunch Break, Glass Box
4
Introducing A Risk-Driven Investment Framework
a)
Defining the appropriate level of risk to reach CERN PF’s target return
b)
Implementing a dynamic process to manage risk
c)
Overview of available tools to reduce risk while maintaining target return
d)
How will success be measured?
e)
Implementing ex-ante risk management
15:00
Coffee Break
5
Designing an Investment Process that reconciles Capital Appreciation with Capital Preservation
6
Migrating from a Traditional Portfolio to a Capital Preservation Portfolio
a)
University of Maryland’s experience migrating its endowment towards a capital preservation philosophy, as related by the Chairman of its Investment Committee