That was a mad March! Early in the month my sister, Natasha Moore, and I brought you Moore Squared Communications to help asset managers build better connections. The following week we boarded the train for the PLSA’s investment conference. We spent a delightful few days yomping up extinct volcanoes, making new connections, chatted to existing colleagues and making the most of Edinburgh’s great bars and restaurants.
The last three episodes of the second series of The Professional Investment Podcast were also published this month. In the sixth episode, Jennifer O’Neill, partner in Aon’s investment business and I discussed whether US tech stocks are overvalued. In the penultimate episode I talked to Veronica Humble, CIO of NatWest Cushon, about how to implement investment in venture capital. In the final episode, Asish Dafria, CIO of Aviva, talked about to manage stickier inflation and adapting to a new fixed income environment.
On my birthday, Natasha and I hosted a well-attended discussion of which was more sustainable – buy-out and run-on. The next event will be held at 6pm on Tuesday, 6th May when we will discuss the implications of the Nest/IFM partnership for other private asset managers with Joining me to debate these questions are Mark Fawcett OBE – CEO of Nest Invest, Maria Nazarova-Doyle– global head of sustainability at IFM Investors, Jesal Mistry – head of DC investments, asset management at L&G and Anthony Ellis – partner and head of DC investment at Hymans Robertson. Get in touch if you would like to come along!
We are also looking to talk to people about the pressures and challenges different asset managers face when it comes to managing current client relationships and exploring how those client needs will evolve over time. Please contact us if you would be interested in talking to us. All comments will be kept anonymous.
Solve, don’t sell
Natasha Moore and I bring you Moore Squared Communications to help asset managers build better client connections. Launching the business has involved taking on different roles to those when working as a journalist. It’s been an unusual experience to write a press release rather than receive one! We have followed the advice we give to clients – keep the press release short, build a convincing narrative and include some punchy quotes. We explain how asset managers feel under siege with margins under pressure, client opportunities drying up and the government looking to shorten the investment chain. In this tough environment, only managers who truly understand their clients who will thrive. Solving problems, not selling will be the secret to success.
Are US tech stocks overvalued?
In the sixth episode of The Professional Investment Podcast Jennifer O’Neill, partner at Aon’s investment practice, chose the Financial Times piece which asked “How big is the stock market’s US bubble?” as her news story of the week. It proved a great starting point for a discussion which covered whether tech stocks are priced correctly and how much longer they could continue to grow at such a rapid rate. We echoed a theme covered in the first ever podcast asking if investors should be worried about concentration risk and what steps they can take. We also covered long-term economic growth drivers as well as the impact of a Trump presidency on financial markets.
How pension schemes can allocate to venture capital
In the penultimate episode of The Professional Investment Podcast Veronica Humble, CIO of NatWest Cushon, and I discussed how the industry reacted to pension minister Torsten Bell’s robust speech at the PLSA’s investment conference. We chat about the government’s push to encourage pension schemes to invest more in private assets and which asset classes are favoured by workplace DC schemes with multi-decade investment horizons. We also talk about how pensions schemes should approach investing in venture capital and whether the UK should be over-weight in this part of the portfolio.
Managing inflation and adapting to a new fixed income environment
In the last episode of the second series of The Professional Investment Podcast, Ashish Dafria, CIO at Aviva, chooses the Bank of England keeping base rates unchanged as his news story of the week. We discuss the stickiness of inflation and how it impacts fixed income investment. After years in the doldrums, fixed income is once again investable and, as result, strategies are evolving. We talk about the role of emerging market debt in insurers’ portfolios and what could be the long term impact of inflation
Which is more sustainable – buy-out or run-on?
There was a cracking turn-out at the Betsey last week with more than 30 coming along to discuss which is more sustainable – buy-out or run-on? It was a great audience full of questions, kind enough to laugh at my jokes and to sing me happy birthday! The panellists Chris HOGG, Sofia Perkonigg, Paul Kitson and Jenny Murray shared their experience on a complex area with insight and humour. But the biggest thanks goes to my sister Natasha Moore who ensured both my birthday and the launch of our new venture Moore Squared Communications were well celebrated!
What are the implications of the Nest/IFM partnership for other private asset managers?
The next networking event will take place at 6pm on Tuesday, 6th May when we will be discussing the implications of the Nest/IFM partnership for other asset managers and if greater collaboration is the future of DC allocation. Auto-enrolled pensions schemes are the largest institutional growth opportunity for asset managers with assets expected to reach £1trn by 2030. With a reliance on passive equity, the UK government’s focus on productive finance represents an opportunity for private asset managers to get a piece of this growing pie. But will partnerships like Nest/IFM limit the opportunities for third-party managers? We also discuss the best way to make workplace schemes sustainable. Joining me to debate these questions are Mark Fawcett, OBE – CEO of Nest Invest, Maria Nazarova-Doyle, CFA– global head of sustainability at IFM Investors, Jesal Mistry – head of DC investments, asset management at L&G and Anthony Ellis – partner and head of DC investment at Hymans Robertson. Get in touch if you would like to attend!
Understand your clients
Anyone in sales knows understanding your clients’ needs is key. Yet at Moore Squared Communications we feel asset managers are forgetting the importance of building client connection when it matters more than ever. It’s understandable. It’s an intermediated industry with a heavy reliance on performance data to determine the suitability of a particular strategy for a client. This encourages a transactional mindset. We understand the pressures. Smaller houses have finite personnel and budget. Large houses have teams to oversee client experience but they can get bogged down in the daily operational grind. An independent assessment of your client relationships provides a candid view on what works and where improvements need to be made. And it could also help you move beyond the operational detail to see the bigger picture – talking to your clients about their future needs. We want to help asset managers to better understand their clients. That’s why we are broadening our own expertise and knowledge and would love to hear from you about the challenges and opportunities you face. Read our current thoughts and let us know if you agree or disagree.
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