Citywire Selector Symposium 2023

Presentation Summary:

As the world transitions towards net-zero emissions, rapid large-scale decarbonization is needed to limit global warming. Capital reallocation across all asset classes is required to facilitate that change, and we believe fixed income plays a critical role, while representing an attractive investment opportunity. 

Allspring Global Investments will share more insights on how climate transition investment grade and high yield portfolios can effectively be decarbonized while enabling the transition to a net-zero economy without sacrificing performance with our climate transition credit strategies.

Company Profile:

Allspring Global Investments, a leading independent asset management firm that offers a broad range of investment products and solutions designed to help meet clients' goals. With more than $547 billion in assets under advisement ( as of 30/6/23) and 23 offices around the world, our vision is to inspire a new era of investing that pursues both financial returns and positive outcomes. With decades of trusted experience propelling us forward, we strive to build portfolios aimed at generating successful outcomes for our clients. We do this through the independence of thought that powers our investment strategies and by bringing a renewed approach to look around the corner to unlock what's possible.

Presentation Summary:

With the sharp rise in base rates and a resilient economy, floating rate private credit loans have outperformed other constituents of the fixed income universe, particularly when accounting for volatility. While secular tailwinds should continue to support private credit, the rapid expansion in AUM warrants a closer examination of the internals driving that growth. Private credit has shown the ability to weather macroeconomic shocks before, but it is a heterogenous asset class and is not immune from speculative excesses, as the 2021-vintage shows. Looking ahead, Benefit Street believes that a disciplined and selective approach will be the key to identifying dislocations in the market and generating sustainable returns over the next market cycle.   

Company Profile - Franklin Templeton:

Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,300 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and over US$1.4 trillion in assets under management as of 30 June 2023. 

Company Profile - Benefit Street Partners:

A leading, credit-focused alternative asset management firm for both institutions and high-net-worth investors.

The BSP team invests across the credit spectrum – from senior secured debt to subordinated debt, as well as both liquid and illiquid credit and seeks to generate attractive risk-adjusted returns. We have extensive experience deploying capital through multiple business cycles with the objective of delivering on the investment goals of our investors.

With our recent acquisition of Alcentra, BSP has 411 employees and 173 investment professionals. (as of 31 Mar 2023). Our senior management team has worked together for over two decades. The firm is led by a talented team of portfolio managers and investment professionals, which include a dedicated research team with sector-specific expertise. The firm’s complementary strategies leverage the proprietary sourcing, analytical, operational and compliance capabilities that encompass BSP’s robust institutional platform. Our headquarters are in New York, with additional offices in Boston, Rochester, West Palm Beach, Dallas and London.  BSP is a wholly owned subsidiary of Franklin Resources, Inc. (Franklin Templeton).

Presentation Summary:

How are asset owners playing their part in the global transition to green energy? It is not always straightforward to combine doing the right thing with generating returns. But regulators and governments are increasingly incentivising the transition, implying significant investment opportunities. In addition, the weight of assets attracted to sustainable investment goals in an unsophisticated manner suggests there are potentially large rewards for investors with an industry-leading approach. 

We will share our pioneering philosophy in this space, starting with a quantitative climate alignment analysis, and then focusing on companies with a high potential opportunity in the energy transition alongside an active engagement with climate laggards.

Company Profile:

We are Legal & General Investment Management (LGIM), the asset management business of Legal & General Group. Our purpose is to create a better future through responsible investing. We strive to achieve this through a strong sense of partnership with our clients, working together to achieve positive long-term outcomes.  

We draw on industry-leading expertise to innovate constantly across public and private assets, index and active strategies. And we are a responsible investor, rising to the challenges of a rapidly changing world. On behalf of savers, retirees and institutions worldwide, we manage USD 1.4 trillion in assets.*

* Source: LGIM internal data as at 31 December 2022. The AUM disclosed aggregates the assets managed by LGIM in the UK, LGIMA in the US and LGIM Asia in Hong Kong (2018-2019 only). The AUM includes the value of securities and derivatives positions.