글로벌 대체투자 컨퍼런스 Global Alternative Investment Conference 2020년 9월 17일(목)

Agenda

The global alternative investment market has been fluctuating. As the COVID-19 outbreak came out, uncertainties became intensified, enabling strategic actions more difficult. Since, the global financial crisis, alternative investment areas have produced relatively higher returns compared to traditional assets with the power of innovative investment targeting, techniques and abundant liquidities. However, the rapid change in the global economic environment owing to the sluiggish growth trend, especially the change in the investment ecosystem after the COVID-19 crisis, raises questions about investment returns’ continuity.

Short-term risks are decreasing thanks to the US Fed's easing monetary stance, but in the long run, when the flow of market liquidity reverses, it may face a crisis. While the value of the underlying asset has already declined or is in a stagnant state, the scale of profit to price continues to decrease, and some of the alternative assets are in the high valuation phase due to the reckless inflow of funds.

In particular cases, it is pointed out that risk factors are under the circumstances where the proportion of alternative investment in South Korea continues to increase, being centered on the pension funds as well as mutual aid associations. As investors' hedging tendency is decreased by past success stories, asset allocation is shifting toward risky assets. The recent DLF and Lime incidents are examples of potential insolvency surfaced. Unlike advanced countries, which are made under the responsibility of institutions, domestic alternative investments are unusually high in individual proportions, so issues of consumer protection and financial supervision are also emerging as challenges.

After all, the keystone relies on two elements. One is risk management methodologies in the uncertain investment surroundings. The other is the problem of discovering innovative investment targets and investment techniques. As predicted by last year's Global Alternative Investment Forum (GAIC2019), the investment is already actively taking place by identifying investment pebbles in rocks, and the investment ecosystem is undergoing a change of perception.

How should we draw a big picture for sustainable growth for the sake of the alternative investment, currently rising as the core of asset allocation. What are the opportunities and risk factors inherent in each of the alternative investment sectors such as PE, hedge funds, real estate, and infrastructure? And how should investors react on this? The Global Alternative Investment Forum (GAIC2020) is in search for a breakthrough this year, when we can't look ahead of the future under this COVID-19 era.

Schedule

September 17, 2020

Time Program Speaker
08:30~09:00 NETWORKING Registration / VIP Coffee Network
09:00~09:20 OPENING CEREMONIES
  • [ Welcoming Remarks ] | Kwak, Jea Sun EDAILY - Chairman
  • [ Congratulatory Message ] | Kim, Yong Jin National Pension Service - Chairman
  • [ Welcoming Address ] | Choi, Hee Nam Korea Investment Corporation - Chairman
09:20~10:20

KEYNOTE SPEECH

Investment Paradigm Shift...
Challenges and Opportunities of Global Alternative Investment
    • [ Keynote Speaker ] | John W. Snow Cerberus Capital Management - Chairman
      (Fmr. US Treasury Secretary)
Q&A
  • [ Moderator ] | Jun, Kwang Woo Institute for Global Economics - Chairman
    (Fmr. Financial Services Commission - Chairman, Fmr. National Pension Service - Chairman)
10:20~10:30 Networking Break
10:30~11:50

Session 1

LP Time : New Horizon on Alternative Investments...
Assessment and Prospect of ESG
    • [ Moderator ] | Brant Maller AIF(Alternative Investment Forum) - Founder and CEO
    • Chung, Sam Young Long Island Univ - Professor
    • [ Panel Discussion ] | Jae S. Yoon New York Life Investment Management - CIO
    • Rilwan Meeran Massachusetts Mutual Life Insurance Company - Head of Impact Investing
    • Scott Zdrazil LA County Employees’ Retirement Association - Head of ESG initiatives
    • Harald Walkate Natixis Investment Managers - Global head of ESG
    • Jang, Dong Hun Public Officials Benefit Association - CIO
    • Lee, Kyu Hong Korea Teachers' Pension - CIO
    • Cho, Hong Rae Korea Investment Management - CEO
11:50~13:00 Lunch Time
13:00~14:20

Session 2

PE & Hedge Fund : Increasing in Credit Risk...
Reverse Conversion Strategy
    • [ Moderator ] Shin, In Seok Chung-Ang Univ - Professor
      (Fmr. Member of Monetary Policy Board at the Bank of Korea)
    • [ Speech 1 ] | Konnin Tam BlackRock - Managing Director, Co-head of Secondaries & Liquidity Solutions
    • [ Speech 2 ] | Hans-Jörg Baumann StepStone - Global Credit Business Chairman
    • [ Speech 3 ] | Tai C. Lin Proterra Asia - Managing Partner
    • [ Panel Discussion ] | Won, Jong Hyun National Pension Service Investment Policy Professional Committee - Chairperson
    • Kim, Hee Seok Hana Alternative Asset Management - CEO
    • Rhim, Yuchul H&Q KOREA - CEO
    • Hong, Won Ho SV INVESTMENT - CEO
14:20~14:35 Networking Break
14:35~15:55

Session 3

Real Estate & Real Asset : Searching for Prospective Investments
    • [ Moderator ] | Shin, Sung Hwan Hongik Univ. - Professor
      (Fmr. Korea Institute of Finance - President)
    • [ Speech 1 ] | Shane Taylor CBRE Global Investors - Head of APAC Real Assets Research
    • [ Speech 2 ] | Martijn Van Eldik JLL - Head of Corporate Finance, Asia Pacific
    • [ Speech 3 ] | Kim, Pil Kyu Korea Capital Market Institute - Capital Markets Senior Research Fellow
    • [ Panel Discussion ] | Kim, Jae Dong Military Mutual Aid Association - CIO
    • Huh, Sung Moo Korea Scientists and Engineers Mutual-Aid Association - CIO
    • Kim, Dae Hyeong Mastern Investment Management - CEO
    • Suh, Jung Doo Korea Investment Management - Managing Director
15:55~16:10 Networking Break
16:10~17:30

WRAP-UP Session

Discussion & Policy Proposal
PE in crisis : Opportunities and Risks
    • [ Moderator ] | Sung, Tae Yoon Yonsei Univ - Professor
    • [ Panel Discussion ] | Ahn, Chang Kuk Financial Services Commission - Director of Capital Market Investigation
    • Kim, Hyun Jeon TongYang Life Insurance - CIO
    • Kim, Jin Woo Shinyoung Securities - Managing Director
    • Kim, Tae Woo KTB Asset Management - CEO
    • Chung, Sam Young Long Island Univ - Professor

Sessions

  • Keynote Speech

    As the uncertainty in the global economy rises, the alternative investment market is fluctuating. As the economic flow is downshifting, and the US-China trade war is under the sharp confrontation, the investment ecosystem is facing a turning point. In this unprecedented confusion. What is the current situation of global alternative investment? What direction will be developed in the future? The Wall Street investment guru, John W. Snow, Chairman of Cerberus Capital, served as Treasury Secretary during the George Bush administration, will diagnose the flow of global alternative investment in an economic situation under the various uncertainties as the US presidential election, the US-China trade war, and the global economic downturn. The strategies in response to these will be proposed as well.
  • Session I

    In the field of alternative investment, 'ESG' is transitioning into a new investment standard. This is because an analysis has shown that investments gearing toward to non-financial sectors such as the environment, social, and governance have increased tolerance against various risks and are performing better. However, it cannot rule out the possibility that the ESG criterion will put a limit on the wide range of investment alternatives. How can ESG be applied in the changing investment environment in this coronavirus era? What is the responsive strategy of stakeholders to activate ESG? Domestic and foreign pension fund CIOs and ESG investment managers diagnose the reality of ESG investment.
  • Session II

    Private equities are facing both opportunities and risk factors. In the midst of the paradigm shift between industries and consumptions, new opportunities are soaring up, while rising credit risk requires adequate risk management. Hedge funds are under the opportunity to maximize profits by increasing volatility in the financial market. In a situation where flexible asset allocation and selective investment in accordance with market flows are required, identifying pebbles of the investment in rocks is proceeded fast and interest in qualitative growth is increasing. How will private equity investment, risk management of hedge funds, and discovery of promising investment fields? Domestic and foreign experts are proposing various solutions.
  • Session III

    The global real estate market is rising as a primer for the crisis. As the 2008 financial crisis, various derivatives structured on real estate basis become insolvent, causing disruption in the cash flow. The real estate sector, which has been engulfed in bubble controversy and sounded an alarm, is in a state of heightened risk since the coronavirus crisis. How should we maintain and manage our portfolio in the real estate sector which brings out more uncertainty since the coronavirus outbreak? How should we capture new investment opportunities in this non-face-to-face era? Quality experts in the field of real estate alternative investments will focus on the global real estate market which enters a new phase.
  • Session IV

    The domestic private equity market is under the crisis owing to incomplete selling, failures to manage liquidity, and illegal and unfair practices in management in the past. In 2015, it showed rapid growth through a series of revitalization measures promoted by the financial authorities, such as the relaxation of entry restrictions, but following the DLF crisis, various insolvency such as the suspension of redemption of Lime and Optimus came out. In the midst of the rapid changes in the domestic private equity market and the investment ecosystem, being smeared with illegal and insolvent, what kind of countermeasure strategies can stakeholders, such as investors, fund managers, financial service providers, and financial watchdogs find their exits out? The issues of the domestic private equity market, lessons learnt from the developed markets, as well as solutions & alternatives according to these experts will be uncovered.