Independent Governance Group (IGG) reposted this
This marks a special occasion as it’s the first time I’ve moderated a panel session. And what better way to do this than at the British Private Equity & Venture Capital Association (BVCA) Summit! Our brief? Fulfilling the Mansion House Compact I really enjoyed the discussion, where we shared thoughts / insights on the work being done behind the scenes to make this a reality. It was also good fun asking the questions! Key takeaways for me: - It’s all about our members! If we can enhance returns and deliver better retirement outcomes for our members that goes at least part of the way to closing the adequacy gap. - There’s a huge amount of work being done by providers and asset managers to create solutions to invest in private assets and, perhaps most importantly, break down some of the barriers - The future is bright! A 5% allocation might be the initial step but looking ahead allocations of closer to 15-20% plus to private assets could become the norm. As a lifetime DC member myself, personally I find it very heartening that investment opportunities that were always ‘too difficult or complicated or impractical’ are set to find their way into our default strategies. Now that’s really exciting! A huge thank you to my wonderful panelists Rob Barr, Sam Tufts, Tegolin Harding and to the organisers at the British Private Equity & Venture Capital Association (BVCA) for making this a great event. #default strategies #defined contribution
Great stuff Jo Sharples - also fantastic that the 1st point was all about improving member outcomes - so often lower on the list 👏🏽
Director / Head of Sustainability at Independent Governance Group
1moThanks Jo Sharples, I really enjoyed our discussion. I'm glad your takeaways were all around member outcomes. The biggest opportunity we have to get more DC money into private markets is to make sure pots are big enough that people don't just cash out at retirement. Pot consolidation and increasing contributions will both enable UK growth!