XxX | Feature Contents Editorial
DISRUPTERS: THE AGE OF CHANGE
When I was at school in the early 1990s, one of my teachers gave us his predictions for the future. He said that in the years to come there would be no shops on the high street. Instead, we would buy what we need through television shopping channels. Around the same time, the head of Paramount Pictures saw the same vision of the future and quit the studio to run a shopping channel. They were almost right. Flicking through the TV channels you still come across stars of yesteryear selling their wares. It seems that what my teacher and a former boss of the company that made The Godfather and Raiders of the Lost Ark did not foresee was the rise of the internet.
It has certainly disrupted our lives, in both good and bad ways. Many of the investors who were early to the party had their fingers burnt, but the rise of tech stocks such as Apple, Facebook, Netflix, Google and Amazon meant there were better times ahead. Disruption is not limited to technology and the automation that comes with it. Climate change is another area that could alter our world and long-term investors need to be exposed to the right side of its impact.
Our cover story this month looks at what the next generation of disrupters could be and how to spot them. You can read our coverage from page 16. Climate change is a common theme this month. From page 24, we look at the engage- ment versus divestment debate to find out which option could speed up the transition to a low carbon world. We also examine how local government pension schemes have progressed with pooling in the first five years (page 46) as well as bring investors together with an asset manager and a consultant to discuss emerging market debt following the sell-off in early 2020 (page 40). Finally, we sit down with Local Pensions Partnership Investments’ chief investment officer Richard Tomlinson to discuss strategic assets.
Mark Dunne Editor
m.dunne@portfolio-institutional.co.uk
Issue 104 | June 2021 | portfolio institutional | 3
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