Investing in Low Interest Rate Environments & ESG’s Impact on the Investment Profession
Hosted by CFA Society Norway in partnership with CFA Society Finland, CFA Society Denmark/The Danish Finance Society and CFA Society Sweden.
Since the Financial Crisis in 2008, the world has grown accustomed to low interest rates. Whilst the low interest rate environment has helped companies survive the most severe downturn since the Depression of the 1930s, it has also propped up financial markets and produced potentially dangerous side effects. As financial markets have become addicted to and economies have become reliant on lower interest rates, can central banks increase interest rates without causing major economic disruption?
While this poses a great dilemma for central banks and policymakers, low interest rates also create a challenge for pension funds, endowments, and portfolio managers. How do you balance the risk-return requirements from the beneficiaries if bonds no longer offer an attractive return? What deliberations must a portfolio manager make when facing portfolio management decisions in today’s interest rate environment?
Low interest rates is not the only concern for portfolio managers these days. A growing focus amongst investors and other stakeholders is ESG and the sustainability of their investments. What considerations must one take when venturing into the world of sustainable investing? And how do you integrate sustainable investing into your investment process
Isabelle Thompsen, CFA, Gjensidigestiftelsen, and President of CFA Society Norway
|13:05||Investing in a Low Interest Rate Environment – Challenges for Pension Funds and Sovereign Wealth Funds
Knut Kjær, Chairman of FSN Capital and former CEO of NBIMModerated by Erlend Fredriksen, CFA, DNB, and board member of CFA Society Norway
|14:00||Integrating Sustainable Investing into the Asset Allocation Process
Crystal Wan, CFA, Director, BlackRock, and Anna Hyrske, Principal Responsible Investment Specialist, Bank of FinlandModerated by Peter Lindström, CFA, Danske Bank, and board member of CFA Society Finland
Chairman of FSN Capital and former CEO of NBIM
The founding CEO of Norges Bank Investment Management from 1997 until 2008. In this capacity he was responsible for the operative management of the Norwegian Pension Fund Global (the Oil Fund) and the management of Norway’s foreign reserves. In 1986 he co-founded and became a partner of the Economic Analysis Centre ECON. From 1994 to 1997 he was Executive Vice President of Storebrand. From 2009 to 2010 Mr. Kjær was President of RiskMetrics Group in New York, where he had direct responsibility for the firm’s global risk and corporate governance businesses. In 2011, Mr. Kjær co-founded Trient Asset Management, where he served as Executive Chairman. He is currently the Chairman of FSN Capital.
Crystal Wan, CFA
Crystal Wan, CFA, Director, is a member of the Official Institutions Group (OIG) at BlackRock. The team are responsible for managing the firm’s relationships with Central Banks, Sovereign Wealth Funds, National Pensions and Multilateral Institutions across the platform.
Ms. Wan joined BlackRock in 2008, working with large institutional clients. She has 12 years of experience working with Official Institutions across investment, risk management and other types of assignments. For the past 6 years, she also serves as a specialist on Sustainability for the Official Institutions segment.
Bank of Finland
Anna Hyrske is the Principal Responsible Investment Specialist at the Bank of Finland. She joined the Bank in July 2020 to lead ESG/RI development and support portfolio managers on ESG integration within the Bank’s asset management division. Prior to BoF Anna was the Head of Responsible Investments at Ilmarinen, a Finnish pension insurance company with €50billion AuM. She has been working on ESG/RI issues for over 20 years and has written two books (2012, 2020) and her Master’s thesis (2004) on this topic.
Erlend Fredriksen, CFA
DNB and board member of CFA Society Finland
Erlend is a CFA charterholder since 2016. He has been a board member of CFA Society Norway since 2019. Erlend works as a portfolio manager for DNB and focuses on emerging market equities.
Peter Lindström, CFA
Danske Bank and board member of CFA Society Finland
Peter is a CFA charterholder since 2010. He was an active member at the New York’s CFA society before joining CFA Society Finland in 2018. Peter works as a Chief ESG specialist at Danske Bank. This is Peter’s second year on the Board.
Free of charge.
CFA PL credits
If you are a CFA Institute member, you are eligible to record 2 PL credits hours for your participation in this meeting