Director, InvestmentsTTC Pension Fund Society
Q&A with Andy Greene
COVID-19 has triggered one of the quickest and deepest recessions in recent history. What are challenges and opportunities for a mid-sized pension fund? Andy Greene, Director, Investments, TTC Pension Funds Society, provides insights to questions ranging from challenges, risk management to investment trends.
1. What were your fund’s top priorities in the first 2 weeks of the market volatility in Q1
Understanding the exact liquidity situation of the portfolio and all its underlying investments. Speaking with our internal and external stakeholders and investment partners on a frequent basis to try and get a real time understanding what was happening to the portfolio.
2. What are some of the challenges facing your fund as a mid-sized one when you set and execute investment plans?
Sometimes not having the resources to implement something as timely or as efficiently as possible. The governance structure where limited authority is given to management also slows down the process.
3. Where do you see the investment trends arising from the implications of the pandemic?
The rise of data infrastructure and speed up of the decline of retailers.
4. What are the takeaways from the pandemic to your fund’s risk management
We do not have a formal risk management framework, but found that by investing along the guidelines from our SIPP (Statement of Investment Policies and Procedures) which are derived from our asset liability study was a great risk framework. Diversification holds up over the mid and long term but may be compromised during a crisis or specific event.
5. In general, what changes would you like to see from investment firms that work with institutional investors?
Incentive fees and structure better aligned with asset owners. Provide more of partnership and knowledge share, not just managing a product.
6. Name one investment philosophy / strategy that you have faith in:
Andy Greene, Director, Investments, TTC Pension Fund Society, spoke at Institutional Connect Virtual Forum in October 2020