We have gone past the ‘new normal’. Low inflation was the norm for 20 years, investors must now confront a world with high and variable inflation. Financial markets are facing potential further disruption from crypto assets and decentralized finance. We have entered the new abnormal.
“On behalf of my colleagues at AQR and the LBS AQR Asset Management Institute, I would like to thank you for joining us for the 2022 Insight Summit. Our program this year focused on the disrupters and the disruptions to the financial markets: the impact of Central Bank policies, the emergence of cryptocurrency and the outlook and implications of the current macro environment. We were excited to be able to come together, once again, in person. And, as always, we enjoyed the dynamic exchange of ideas among leading practitioners and academics that has become the hallmark of the AQR Asset Management Institute. We appreciate you being a part of the 2022 Insight Summit and hope that you enjoyed what was an informative and engaging event.”
David Kabiller
Co-Founder, AQR Capital Management
Good Business: Asset management in the new abnormal
A whole host of market ructions including megathreats, stagflation and the challenges of crypto assets are combining to create a new abnormal for asset managers. The recent AQR Asset Management Institute Insight Summit convened global leaders in academia, industry and policymaking to discuss the changed landscape facing investors. Anna Pavolva, Professor of Finance at London Business School and Academic Doctor for AQR Asset Management Institute, hosts this podcast, summarising the insights from the one-day event, and offers an in-depth exploration of the risks, as well as pointing to the opportunities on offer.
Agenda
Intro Introduction / Welcome
Stan Beckers, Chair, AQR Asset Management Institute
Leading academics and senior members of the investment community came together to explore new paradigms in asset management. The virtual summit covered the tectonic shift in global finance currently underway, ESG investing, and other important recent developments and challenges within the industry.
Rick Lacaille, Executive Vice President, Senior Investment Advisor and former Chief Investment Officer, State Street, and ChrisIggo, Chief Investment Officer of Core Investments, AXA IM
The AQR Asset Management Institute’s Insight Summit aims to distil the best of academic and practitioner insights on critical issues impacting the investment industry today.
At our virtual Insight Summit 2020, participants heard from top speakers within business and academia on the impact of prolonged low interest rates, the effects on financial institutions and markets, as well as implications for financial stability and public policy.
The conference included a speech by Anil Kashyap of the Bank of England’s Financial Policy Committee, on the Covid-19 shock experienced by financial markets and the lessons from the disruptions to markets earlier this year.
Session 1 -Low rates: causes and consequences
Hélène Rey, Lord Raj Bagri Professor of Economics, London Business School, member of the French macroprudential authority
Session 2 -The dash for cash and the liquidity multiplier: lessons from March 2020
Anil Kashyap, Stevens Distinguished Service Professor of Economics and Finance, The University of Chicago Booth School of Business, external member of the Bank of England’s Financial Policy Committee
Award winner: Thilo Kind, PhD graduating class 2022.
Award presented by Anna Pavlova, Professor of Finance; London Business School, Academic Director, AQR Asset Management Institute, London Business School, and Scott Richardson, Principal and Co-Head of Fixed Income at AQR Capital Management, Professor of Management Practice at London Business School.
Session 5 - Future-proofing pensions: integrating the wisdom of John Maynard Keynes and Peter Drucker
Keith Ambachtsheer, Director Emeritus, International Centre for Pension Management at the Rotman School of Management, University of Toronto and President of KPA Advisory Services
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