Carlton W. Lenoir, Sr., Keynote Address, Markets Group Midwest Forum, May 15, 2024
These gatherings are important ones as we come together as a community to learn from each other, to help us think differently, and consider strategies for mitigating risk and increasing returns. Brian Collins got us off to a thought-provoking start with some of the major threats on the horizon and also with his call to service. We also had some excellent interviews on investment opportunities in private and securitized credit and convertible bonds. And as we reviewed those options some clear themes emerged. The words volatility, global change, dislocation – were prominent. And the best way for us to overcome those risks and the uncertainty they represent – is knowledge. Because uncertain times and global change mean that decisions or options are not black and white – we are living in the gray area – where the “tried and tested” mean very little. Markets and Assets look different, and we are all seeking novel approaches and big ideas that will help propel us forward.
And truthfully, I cannot tell you what the next 12 months will bring, or the future will hold -- no single individual can do that – I do not have a crystal ball – but what I do have is vision, a vision rooted in nearly 130 years of investing and caring for our stakeholders. And sharing that vision with you, in ways both formal and informal – is what makes meetings like this important.
As we convene, I see many members of the Pension Fund community here today, including some of my colleagues from Funds across the state – but I am going to take a moment of personal privilege and point out that CTPF holds a unique place among pension funds – being the first pension fund established in Illinois and the second in the nation. Our founders knew in 1895 that preserving dignity and financial security in retirement was a goal worth fighting for, and they began the fight.
