German conference & awards
ers discussed how investment strategies into these assets would have to be adapted, given the rapid rise of inflation and rising bond yields.
The conference was wrapped up by a second keynote speaker, Sebastian Heilman, a professor at Trier University, who discussed China’s new economic policy and the implications for foreign investors. In a timely speech, given the rising tensions around Taiwan, Heilman argued that the end of US dominance in inter- national relations could trigger new geo-political tensions. He predicted the emergence of a new multipolar world order spark- ing another cold war between the two hemispheres, China and Russia versus the US, Europe, Canada and the UK. Heilman warns that will lead to new geopolitical risks, which institutional investors will have to consider in their asset allocation.
Awards
The portfolio institutionell awards are an annual event to rec- ognise the outstanding performance, risk management and ESG implementation of asset owners across the German insti- tutional investment landscape.
Unlike in the UK, where assets are heavily concentrated among defined benefit pension schemes, the German institutional market is more segmented. Germany is the largest fund market in Europe, with €4trn (£3.3trn) in assets under management, but pension fund investors account for less than a third of the market and are in turn split up between Pensionskassen (similar to defined benefit schemes), Pensionsfonds (similar to defined contri- bution schemes) and Versorgungswerke, which are trade- based occupational pension schemes with mandatory participation.
Other key players in the German institutional market are banks, insurers, endowments and churches, family offices and corporate investors.
The diversity of this investment landscape was captured in the awards ceremony, which was held for the 16th year in a row and covered 16 different categories. Candidates in each category were assessed by a jury of two or three industry experts, consultants and academics and backed by a sponsoring asset manager.
Issue 116 | September 2022 | portfolio institutional | 55
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