LEAD SPONSOR

10th Local Authority

Treasurers
Investment Forum
20TH SEPTEMBER 2018 • LONDON STOCK EXCHANGE

· FREE for council treasury managers

· Investment impact of Brexit
· TMS strategy under new government guidance
+FD’s
and CIPFA code Summit
· CPD points for council treasurers STREAM SPONSOR

· Updates & discussion: IFRS9, IFRS16, LOBOs

· End of QE and interest rate changes
· Markets and economic analysis

Speakers

Michael Quicke, OBE Karen Ward Joseph Holmes Innes Edwards

chief executive managing director, chief market corporate director treasury manager
CCLA strategist EMEA Winchester City Council City of Edinburgh
J.P. Morgan Asset Management

Hetal Mehta Debbie Cunningham Mike Jensen Gareth Caller

senior European economist CIO – global money markets director of investments head of local government
LGIM Federated Investors Lancashire County Council finance unit
MHCLG

REGISTER ONLINE at https://www.surveymonkey.co.uk/r/LATIF2018

Sponsors Exhibitors
10th Local Authority
Treasurers Investment Forum
LATIF AGENDA
MORNING CHAIR’S
OPENING REMARKS
Chris West
consultant
KEYNOTE PRESENTATION
Room151 Treasurers
Investment Survey 2018:
results and analysis
Now in its third year, the Room151
Treasurers Investment Survey
aims to identify emerging asset
allocation trends in council treasury
management as well as practitioners’
opinions on the markets and
investment risk. Michael Quicke, OBE,
presents the results and provides
the analysis.
Michael Quicke, OBE
chief executive
CCLA
PRESENTATION
Does Brexit really mean Brexit?
Amidst the wave of populism that
swept the developed world - from
Greece and Italy to the US - the
UK is also in the throes of its own
adjustment. In just over six months’
time the UK will have officially left
the EU, but will that change anything
for the ordinary person? What are
the issues facing the UK consumer?
We look at the outlook for the labour
market, wages, and house prices.
Hetal Mehta
senior European economist
LGIM
Hetal Mehta
London Stock Exchange
TMS PANEL
A panel of council treasurers
and advisers discuss their
visions for the 2019 round
of treasury management
strategies among other themes
tabled by their peers.
• Devising a TMS under the new
government guidance
Karen Ward
• Inter-authority loans: measuring
creditworthiness
• Alternative & structured investments: PRESENTATION
a view from the buy side Guide to the markets
• With inflation running at 3% In this session, Karen Ward will
and interest rates on savings still explain the outlook for the UK
running at near-historic lows, how economy and discuss the key
can you build an effective treasury themes and significant challenges
management strategy? that lie ahead, which can help local
authorities position their portfolios
Joseph Holmes
accordingly.
corporate director
Winchester City Council Karen Ward
managing director, chief market
Mike Jensen
strategist EMEA
director of investments
J.P. Morgan Asset Management
Lancashire County Council
Phiroza Katrak
PRESENTATION
client director
Arlingclose After nearing a 300 year low in
interest rates, what do you do
Additional speaker to be confirmed
if the tide turns?
David Oliphant examines the
PRESENTATION flexibility fixed income investors
What does a AAA rating require against a backdrop of market
actually mean? conditions not seen for some three
Habitually treasurers will often look centuries and the winding-up of the
to the rating of a money market fund great quantitative easing experiment.
first before making a call on it. Debbie David Oliphant
Cunningham, however, argues that executive director fixed income
the rating may not be the investor’s Columbia Threadneedle
best friend. Does a measurement
based on longer-term risk analysis suit
the short-term investor and what other
metrics can you use to enhance your
decision making?
Debbie Cunningham
CIO – global money markets
Federated Investors
—2 — September 20th, 2018
 TREASURERS AND 151s REGISTER HERE
https://www.surveymonkey.co.uk/r/LATIF2018
PANEL
Are treasurers well served
by the revised government
investment guidance and
CIPFA codes?
What do practitioners make
of revisions to both the CIPFA
guidance and government investment
guidance? Will it help them achieve
what they need to in their capital
strategies?
Danny Mather
head of corporate finance
Warrington Borough Council
Innes Edwards
treasury manager
City of Edinburgh Council
Victoria Worsfold
principal accountant and deputy CFO
Guildford Borough Council
Paul Deal
corporate finance advisor
Mendip District Council
AFTERNOON CHAIR’S
OPENING REMARKS
Tim Seagrave
group finance lead
capital & treasury management
Manchester City Council
Danny Mather
London Stock Exchange
PANEL PRESENTATION
Technical, advisory and TMS evolution: ten years
regulatory updates + panel of treasury investment
discussion and future expectations
• IFRS16: financial implications As we celebrate ten years of LATIF,
of on-balance sheet leases one of the event’s longest supporters,
Stephen Sheen Payden & Rygel, analyses the
managing director evolution of local government treasury
Ichabod’s Industries management strategies since the
financial crisis and discusses future
• Ring-fenced or non-ring-fenced risks and opportunities.
banking: what difference does
it make? Robin Creswell
Speaker to be confirmed managing principal
Payden & Rygel
• LOBOs: what have audit
investigations revealed?
Speaker to be confirmed PANEL
What next for the markets and
• LA reserves: affordability
treasury investors?
and sustainability in view of recent
As the 10th LATIF draws to a close
pressures and media coverage
we reflect finally on the state of the
David Whelan
financial markets and implications
managing director
for treasury investors across different
Link Asset Services
asset classes.
• MHCLG update
John Kelly
Gareth Caller
client director
head of local government
CCLA
finance unit
MHCLG Robin Creswell
managing principal
Payden & Rygel
PRESENTATION
Have we learnt from previous Additional speaker to be confirmed
mistakes? Understanding
credit risk in the short-term
bond market
Amundi’s Nathalie Coffre has seen
the development of the short-term
bond market over the last ten years
FD’s Summit
from a front-row seat as head of short SPONSORED BY
term solutions with Amundi, one of
the world’s largest asset managers.
Nathalie shares her experience in
analysing credit counterparties and
looks at the conditions for default risk For more information please visit:
in today’s market. http://www.room151.co.uk /
annual-conference/
Nathalie Coffre
fund manager
Amundi Asset Management
—3 — September 20th, 2018
10th Local Authority 10th
Treasurers Investment Forum LATIF
& FD’s Summit
PUBLIC SECTOR DELEGATES REGISTRATION WHERE & WHEN?

Please read carefully Thursday September 20th, 2018

Free places are available only to qualifying finance officers
Registration: 09.00 – 09.30
at UK local authorities and other public sector bodies.
London Stock Exchange
Please only complete the registration form if you fully expect
to attend the conference 10 Paternoster Square, London EC4M 7LS
Delegates who register and then do not attend may be charged Tel: 44 (0)20 7797 1000
to register for future Room151 conference.
Nearest Tube: St. Paul’s (Central Line)
Registration for public sector delegates is available either online
Delegates are responsible for arranging and paying
https://www.surveymonkey.co.uk/r/LATIF2018 for their own accommodation and travel
or by returning the form below to:
Longview Productions Ltd
Unit B2, 62 Beechwood Road, London, E8 3DY
Alternatively you can scan and email the form to events@room151.co.uk

LATIF REGISTRATION FORM

Local authorities can register one qualifying delegate for LATIF,

completely free of charge.
If you would like to book additional delegates please enquire to
events@room151.co.uk
Please provide your full details using only BLOCK CAPITALS:

Full name:
Job Title:
Local Authority:
Email:
Telephone

Please confirm that you qualify for the LATIF Conference:

I would like to register for LATIF and confirm that I am the officer responsible
for treasury/cash management
Attendance is free; we only ask that you are a subscriber to our free
weekly newsletter, and that you complete our annual survey, with the
results to be presented at the conference. We’ll be in touch with survey
questions nearer the date of the conference:

I am either a current subscriber of the Room151 weekly newsletter or

consent to becoming one with no cost or obligation
I consent to completing the Room151 annual survey

LEAD SPONSOR
Each year a number of local authority finance officers register for the
conference and then don’t attend. To ensure we don’t have to turn
delegates away who can attend, please only register if you can come!
Thank you for registering. We’ll be in touch by email to confirm your
place (subject to availability).