Listing 2019 Public Funds Forum takeaways is not easy. First, the Forum is held under Chatham House Rule, so no direct quotes. Second, I was networking and collaborating on various projects, so was not there for every panel or speaker. Third, my 2019 public funds forum takeaways focus only on what was new to me, relevant to my work as a shareholder advocate or was an interesting use of words. Your quick takeaways would be different.
Like all Public Funds Forums, the speakers, venue, food and networking activities were all great.
2019 Public Fund Forum Takeaways in Random Order
- Two-thirds of workers are not engaged, costing the economy $550B/year.
- North Dakota not only has a state bank used for infrastructure, but also has a sovereign wealth fund.
- “Greenwishing.” I know greenwashing. However, this was new to me. “The earnest hope that well-intended efforts to make the world more sustainable are much closer to achieving the necessary change than they really are.”
- “Tummy-tickling engagement” appears to be a variant of box-ticking.
- 45% of public companies are contributing to 527s
- 10 times more spent on lobbying than elections
- There are 6 PR staff for every journalist.
- Only 6% of directors think climate presents a material risk
- “Beta Focused Stewardship” – See Stewardship a key point of competition for passive asset managers and More Beta: 21st Century Portfolio Theory.
- There’s going to be a narrow gateway getting out of stranded assets. Be ready to move out.
- Compete to collaborate
- Nobel economics prize on free-rider reduction – a carbon tax, is a far more effective and efficient way to lower carbon emissions than direct government controls on the quantity of emissions.
- The economy, like a teenage boy, is always a minute from disaster, even in the best of times.
- Shareholder derivative actions v securities fraud.
2020 Public Funds Forums
I see there will be a 2020 International Symposium in London. The 2020 Public Funds Forum will be September 8-10, 2020 but no details announced yet. These are invitational events, so follow ValueEdge Advisors to learn more and make yourself known to them.