9:30 am – 10:30 am

Expert Panel: Climate - Risk & Opportunities across Asset Classes

Given increasing examples of the potential risks from climate change, such as Pacific Gas and Electric Company’s wildfire-induced bankruptcy and the loss of 90% of housing stock in Paradise, CA, a growing number of investors are incorporating consideration of climate risks and opportunities in their analysis. Panelists will discuss different types of climate risk, ways to incorporate it into investment analysis, and potential metrics to use, with a look at municipal bonds, public equities, and the private market. The fossil fuel transition also presents an investment opportunity as the pace of the transition to cleaner forms of energy, transportation, and heating continue, and analysts will discuss expected opportunities for investment. This session is a dual-track session for both the ESG and municipal bond tracks.

  • Moderator: Michael Corelli, CFA, Moody's
  • Panelist: Jodi Neuman, CFA, Trillium Asset Management
  • Panelist: Mike Pohlen, North Sky Capital
  • Panelist: Emily Robare, Gurtin Municipal Bond Management, a PIMCO company

 

10:45 am – 11:45 am

Expert Panel: Buyer's Panel

The municipal bond market is always moving and evolving. Come learn why municipal bonds make sense for your portfolios. Engage with some of the top managers as they discuss what they’re seeing in the market, and what they’re buying. This session is intended to be a dynamic discussion, with most time allotted to questions and answers. So, come prepared with inquiries on the municipal bond market to unearth some great opportunities.

  • Moderator: Jason B. Miller, CFA, Sit Fixed Income
  • Panelist: Johan Akesson, CFA, Thrivent
  • Panelist: Steve Cavalier, PiperJaffray
  • Panelist: Thor Raarup, CFA, Travelers

 

Break for lunch

 

12:45 pm – 1:45 pm

Focus Session: Pensions

Governmental pensions at the state and local level have been a primary credit focus in the municipal market for some time.  This panel will provide insights into Minnesota’s multi-employer plans and impacts of the state’s 2018 legislative session changes on the funding status of the plans administered by the Public Employees Retirement Association.  We’ll also get a national and local perspective from S & P Global Ratings.

  • Doug Anderson, Minnesota Public Employees Retirement Association
  • Scott Nees, S&P Global Ratings

 

2:00 pm – 3:00 pm

Expert Panel: Municipal Housing Bonds: Investor Opportunities in A Rebounding Sector

Housing Bonds are a major Revenue Bond sector of the municipal market that has been rebounding in new issue volume within a contracting market. Housing Bonds, repaid from Single Family or Multifamily mortgages, offer significant additional spread vs. other high grade municipal bonds. The sector is rich in opportunities for out performance of market benchmarks for sophisticated investors. Housing bonds bring elements of mortgage backed securities and commercial mortgages into the municipal marketplace.

This panel features the Managing Director in charge of Housing Bond banking at the leading underwriter in the sector; a representative from Minnesota Housing Finance Agency, which one of the largest Housing Bond issuers; and a leading investor and prominent analyst dedicated to the sector. This session will provide an overview of the sector for potential and current investors in this lesser known area of the municipal market.

  • Moderator: Kurt van Kuller, CFA, Sit Fixed Income
  • Panelist: Matthew Dieveney, Minnesota Housing Finance Agency
  • Panelist: Cory Hoeppner, RBC Capital Markets