Mastering Change in Lifecycle and DC Investing provides an integral view of the latest research and debates with defined contribution, lifecycle theories and studying the different factors that influence the optimal mix between the portfolio weight of risky assets and age based on the concept human capital. Through a combination of lectures, discussions and interactive cases, this intensive two-day masterclass exposes participants to the critical challenges in lifecycle theories, risk preferences, and behavioral insights, contrasting it with the latest research findings. Exploring a wide range of perspectives, best practices and approaches for implementation, the program challenges you to pinpoint where your own investment organization should be strategically heading in the Dutch and international DC markets.
Participants will learn about the role of DC in the specific Dutch pension reforms context, the differences, and commonalities with “traditional” DC investing. At the end of this masterclass, you will be able to develop a lifecycle model within a collective pension scheme, understand how asset allocation is managed effectively in a DC-pension plan context, and be able to develop a realistic implementation strategy for your organization.
• Explore how lifecycle and DC investing changes the investment industry and advance your understanding of the latest research, strategies and insights
• Understand how asset allocation is managed in a DC-pension plan context, develop a realistic implementation plan, recognize when things need to change.
• Design and apply DC/lifecycle insights in your own investment organization
• Cut through the jargon to make sense of the DC industry – explore valuation, structuring, value creation, impact and more
The program will bring you close to thought leaders and experts – who will share insights and hands-on experience in designing, executing, and measuring DC and lifecycle strategies in their own organizations.
• Underpinnings of DC investing: Lifecycle theories, role of human capital theories
• Differences and commonalities between DC investing and the proposed pension schemes under the Dutch pension reforms
• Role of risk tolerance, capacity and attitude, existing theories, how it can be measured. You will learn to form a well-founded opinion on this
• Translate risk appetite into an implementable investment mix for different groups/cohorts, including hedging of inflation and interest rate risk
• Understand how the assumptions of risk premiums of assets influence the composition of investment mixes within DC investing, the role of illiquid assets in the de-risking phase
• Get an overview of DC implementation technologies, and how it affects implementation: pooling/unitizing, NAV, platform distribution, automated advice on (risk) preferences
Mastering Change in Lifecycle and DC Investing is designed for mid to senior professionals in the investment sector: portfolio managers, risk managers, investment advisors, who need to understand the dynamics for defined contribution and how to implement new investment strategies across their organizations.
The masterclass is also well suited to board members and investment committee members who need a thorough understanding of the strategic opportunities and challenges of DC investing, as well as what is required at a strategic level within their organizations.
There are no formal prerequisites for this course, though participants with a background in investing will benefit most from the course.
The module is scheduled to start on May 31, 2024. The schedule of classes is as follows:
• Friday 31 May 2024 (10.00 – 20.00h)
• Friday 14 June 2024 (10.00 – 17.00h)
Dr Rogier Potter van Loon is a behavioral economist at TKP. He studied Econometrics and obtained a PhD in Behavioral Finance. After his PhD, he briefly worked as an assistant professor of Econometrics. In 2016, he joined the pensions industry to apply his research on risk preferences in practice. At TKP, he develops tools that help guide pension participants to the risk that best suits them.
Dr Roel Mehlkopf is a pension fund advisor at Cardano. Roel is part of the client team, where he helps pension funds to manage their financial risks. Roel also works parttime at Tilburg University as a postdoctoral researcher. Roel teaches a course on pension economics for master students. His research is focused on lifecycle investing and risk sharing. Before joining Cardano, Roel worked in the public sector, including the Ministry of Social Affairs and Employment.
Working for state secretary Jetta Klijnsma, he contributed to the legislation for variable annuities (in Dutch: Wet Verbeterde Premieregeling). Roel graduated cum laude in financial econometrics in 2006. He obtained a Ph.D in Finance from Tilburg University in 2011 and was a visiting scholar at the University of Pennsylvania.
Cost of Change module(s):
1 module 2.495 euro
2 modules or more 2.395 euro per module
For members of CFA Society Netherlands:
1 module 2.250 euro
2 modules or more 2.150 euro per module
Full RBA program:
per module 2.000 euro
Employers who would like to enroll several employees may receive a customised offer.