4.00 PM – 4.50 PM

Plenary 3: Capital Flows

50 mins Plenary

The final plenary of the day will look at the the ever-evolving world of capital flows, with a special emphasis on the shift from Defined Benefit (DB) to Defined Contribution (DC) plans.

This session will delve into the complexities of investor capital movement, exploring how changes in retirement planning strategies impact financial markets, investment choices, and risk management.

We are honored to welcome special guest, Mhairi Jackson from the Financial Conduct Authority (FCA), who will provide unique insights into regulatory perspectives and the implications for investors and financial institutions.

Our expert panel will discuss current trends and the future outlook for capital allocation, addressing the challenges and opportunities presented by this significant transition.


Speakers

Mhairi Jackson

Manager, Funds and Asset Management Policy, FCA

Mhairi Jackson manages the UK’s Funds and Asset Management policy area, where she is responsible for setting and overseeing the policy direction for the UK asset management sector, including UCITS, AIFMD and the overseas fund regime.  She has overseen the development of the UK’s new fund authorised fund structure, the Long Term Asset Fund, and has worked closely with the Bank of England in reviewing fund liquidity requirements.
 
Mhairi represented the UK at ESMA and currently Chairs IOSCO’s Committee for Intermediaries, and represents the UK at IOSCO on fund issues. Prior to this, Mhairi reformed the UK retail derivatives market and was responsible for the implementation of areas of MiFID II.
 
Mhairi has extensive regulatory and risk experience of the asset management sector, having lead the FCA fund supervision team, and worked in Advisory Compliance at State Street Global Advisors and Operational Risk at Man Group.

Matthew Abbott

Head of Client Development, Legal & General Investment Management

Matthew joined Legal & General as Head of Client Development – Real Estate Client Solutions in 2019.

Prior to this he was a Principal in Mercer's Real Estate Boutique. He joined Mercer in 2011 and researches real estate investment managers across Europe, covering all investment styles including commercial and residential real estate. Matthew is also part of Mercer's Dynamic Asset Allocation group and assists clients with strategic real estate advice. From an industry perspective, Matthew sits on the IPF Indirect Funds Working Group and the AREF Investor Committee and has previously been involved with IPD's Index Consultative Group.

Prior to joining Mercer, Matthew was a Real Estate Researcher and Investment Consultant with Aon Hewitt for eight years. Matthew holds the IMC, has studied the Actuarial profession and holds an undergraduate Bachelor of Science in Mathematics & Statistics from the University of Newcastle-upon-Tyne and a postgraduate Master of Science in Real Estate from Kingston University.

He regularly appears in the financial press and is active on industry panels, discussing all matters relating to institutional investment in real estate.

Shalin Bhagwan

Chief Actuary and interim Chief Financial Officer, Pension Protection Fund

Shalin Bhagwan joined the Pension Protection Fund in 2023. He is our Chief Actuary and interim Chief Financial Officer.

Shalin brings extensive pensions, insurance and investment experience having worked across the sector for many years. He started his career in South Africa in life insurance pricing and reserving and then transitioned into liability valuations for defined benefit pension funds.

In addition, he brings significant LDI, derivative and credit portfolio management experience and has advised some of the UK’s largest pension funds on their LDI strategies both as a consultant with Mercer and portfolio manager with Legal & General Investment Management.

He is a member of the advisory panel at the Financial Reporting Council and is an advisory board member at SG Pensions Enterprise. He recently served as a member of the Institute and Faculty of Actuaries' Finance and Investment Board and as an advisory member for the task force to boost socio-economic diversity at senior levels in both the financial and professional services sectors.

John Forbes

Independent Consultant, John Forbes Consulting

John Forbes is an independent consultant advising real estate investment managers, investors and others in the real estate industry in the rapidly changing areas of product development, governance and regulatory matters for real estate funds.  He has advised on the restructuring of high profile open and closed-ended real estate funds in the UK and elsewhere in Europe, as well as the establishment of new funds. He has advised service providers to the real estate investment management industry on the strategic implications of regulatory and other changes.  Prior to setting up John Forbes Consulting LLP in 2013, he spent over twenty-five years with PwC, where he led the firm's Real Estate Industry Practice in Europe, the Middle-East and Africa across all of the firm's services to the real estate industry.

John is the chairman of the Independent Supervisory Board of the UBS Triton Property Fund, independent chair of the Urban Splash Residential Fund and non executive chairman of Ginkgo Advisor UK Limited.