Agenda

Vice President for Institutional Advancement, ADAMS STATE COLLEGE FOUNDATION
VP/Finance & Administration, THE AMATEUR ATHLETIC FOUNDATION OF LOS ANGELES
Chief Investment Officer, THE AMATEUR ATHLETIC FOUNDATION OF LOS ANGELES
Associate Vice President-Finance, UNIVERSITY OF ALASKA
President & Partner, ALEXANDRA INVESTMENT MANAGEMENT, LLC
CFO/ Treasurer, AMERICAN FILM INSTITUTE
Managing Director, BEACON POINTE ADVISORS, LLC
Vice President, Manager Research, BEACON POINTE ADVISORS, LLC
Senior Institutional Consultant, BOTT & ASSOCIATES INVESTMENT CONSULTING GROUP OF WACHOVIA SECURITIES
Professor of Finance, CAL STATE DOMINGUEZ HILLS
Chief Financial Officer, CALIFORNIA HEALTHCARE FOUNDATION
Financial Officer, CALVERT FOUNDATION
Director/Manager of Research, CANTERBURY CONSULTING
Research Analyst, CANTERBURY CONSULTING
VP of Finance/CFO, CHAPMAN UNIVERSITY
President, CHARITABLE ADVANTAGE
Managing Director - Director of Foundation and Non-Profit Consulting, CITI INSTITUTIONAL CONSULTING
Director and Chairman of the Nominating Committee, CLEVELAND STATE UNIVERSITY FOUNDATION BOARD
Investor Services Manager, COLLINS CAPITAL MANAGEMENT, INC.
VP, Finance & Operations, EAST BAY COMMUNITY FOUNDATION

Director of Finance, GEMOLOGICAL INSTITUTE OF AMERICA
VP & Chief Financial Officer, GEMOLOGICAL INSTITUTE OF AMERICA
Senior Research Analyst, HAMMOND ASSOCIATES
Executive Director, KARE YOUTH LEAGUE
Member of the Finance and Assets Committee, LAKE ERIE COLLEGE
Senior Associate, MEKETA INVESTMENT GROUP
Consultant, MEKETA INVESTMENT GROUP, INC
Trustee, NEUROSCIENCES RESEARCH FOUNDATION
President, NEWPORT CAPITAL ADVISORS
Associate Professor of Finance, UNIVERSITY OF NORTH CAROLINA
Managing Partner and CIO, OCEAN ENDOWMENT FUND, LLC and Former Managing Director, STANFORD MANAGEMENT COMPANY
Chief Investment Officer, PACELINE CAPITAL ADVISORS
President, RITCHIE GROUP
Executive Director, SONORA AREA FOUNDATION
Managing Director, Chief Financial Officer, STANFORD MANAGEMENT COMPANY
Chairman of the Investment Committee, UCLA FOUNDATION
Assistant Vice President of Budget and Treasury, UNIVERSITY OF SAN DIEGO
Assistant Director for Budget & Treasury, UNIVERSITY OF
SAN DIEGO
Assistant Treasurer, UNIVERSITY OF SOUTHERN CALIFORNIA
Professor, UNIVERSITY OF VIRGINIA/Trustee, VIRGINIA RETIREMEMT SYSTEM
Investment Officer, WILLIAM ZIMMERMAN FOUNDATION

Sunday, February 3, 2008

11:00a

Registration

11:55

Opening Remarks

12:00p

Director, SG AMERICAS SECURITIES, LLC

12:20

Portfolio Specialist, FISHER INVESTMENTS

12:40

Which investment strategies will outperform the rest in the current tumultuous economic environment and IN THE unpredictable pre and post election Years?

This panel will feature top industry experts; their views and opinions as to which strategy or combination of strategies will perform best in 2008 and 2009. Conducted in a lively discussion format speakers will tackle questions pre-submitted by Endowments and Foundations in attendance.

Panelists:
President & Partner, ALEXANDRA INVESTMENT MANAGEMENT, LLC
Portfolio Manager, MARTELLO INVESTMENT MANAGEMENT

1:15

Leading research seems to indicate that Emerging Managers are delivering exceptional returns. This panel will delve and explore as to why emerging managers achieve the returns they do, for what period of time can they sustain those returns, does size of assets under management really matter and when is a manager no longer emerging.

• Should Endowments and Foundations be allocating to emerging managers and if so why?
• What does the latest research show on Emerging Managers and their overall performance?
• Emerging managers, what is their role in an institutional portfolio
• Criteria which define an Emerging Manager
• Who should be looking to invest in Emerging Managers
• Techniques for  sececting new emerging managers and finding out what is their edge
• Is Direct Investment prudent for a first time Emerging Manager investor
• What function do consultants, manager of managers and fund of funds play in Emerging Manager selection
• and oversight

Moderator:
Managing Director, Context Capital Partners

Panelists:
CEO/CIO, HUBER CAPITAL MANAGEMENT
CFA, Senior Portfolio Manager, PERENNIAL PROTECTION FUND
Associate Director, PACIFIC ALTERNATIVE ASSET MANAGEMENT COMPANY

2:15

130/30 Funds and strategies – Are they truly a New Middle Ground, or just a disguise?

• What are 130-30’s and what opportunities and threats do they present?
• Will 130-30 strategies provide the forward motion for investors who were as of yet not invested in alternatives, to begin to make significant allocations to hedge fund type strategies?
• What are the fundamental of difference between 130/30 funds and traditional long-only funds is in relation to the fees charged by 130/30 funds.

Moderator:
Board Member of Investment Board, Cal Poly University

Panelists:
Partner, Alpha Equity Management / Copernicus International LLC
Senior Associate, Wilshire Associates

SUPERBOWL PARTY

Monday, February 4, 2008

7:15 a

Continental Breakfast

7:45

Co-Chair Welcoming Remarks

8:00

DELVING INTO THE EXPANDING HEDGE FUND UNIVERSE AND EXAMINING HOW THEY ARE MANAGING TO STAY AHEAD OF THE CURVE
• What are the main strategies hedge funds are using today and how could they morph in the event of an
• economic downturn
• Liquidity and transparency: How do hedge funds cope with them?
• What are some new kind of Hedge Funds
• The collapse Subprime market,; what are the long term repercussions for the hedge fund industry ?
• How to best construct a hedge fund portfolio while still avoiding illiquidity
• Comparison between quantitative and traditional approach in hedge funds investing
• Are Hedge Funds a separate asset class? Its 2008 and still many say we there is no definitive answer
• Why not to confuse any complex strategy with a hedge fund strategy, what are the major differences?
• Are hedge funds an absolute return strategy or is it just another source of portable alpha?

Moderator:
Member of the Finance and Assets Committee, LAKE ERIE COLLEGE

Panelists:
Managing Director, AMBIT FUNDING

8:40

President & CEO, PERMAL CAPITAL MANAGEMENT

9:00

9:20

FUND OF FUNDS - DO THEY HAVE AN EDGE? IF SO, CAN THEY MAINTAIN IT?

• Performance and structural trends
• Adding top-down alpha to fund of hedge funds
• Fund of fund product characteristics and trends
• Examining fees, liquidity, transparency
• Do specialists fund of funds hold an advantage?
• Are fund of funds being forced to take on unwarranted risks?
• What are fund of funds doing to keep on top of their game?
• How are fund of funds practicing risk management in the current volatile market environment?
• Is there a convergence occurring between consultants and fund of funds? If so, where could this lead?

Moderator:
Chief Investment Officer, Paceline Capital Advisors

Panelists:
Investment Committee Member, COTTAGE HEALTH SYSTEMS
Director, GORDON ASSET MANAGEMENT
Director, OPTIMA FUND MANAGEMENT
Vice President, DIVERSIFIED INVESTMENT ADVISORS

10:20

OPPORTUNITIES IN REAL ESTATE & REAL ASSETS, WHY NOW MORE THAN EVER?

• Understanding developments in real estate investment & how to select a real estate manager
• Which areas are producing the greatest returns?
• Investing in real estate today and tomorrow
• Are there opportunities in international real estate? If so, how to invest
• Effective strategies for investing in REITS
• Looking to the future with renewable energy technologies
• What are the risk-return and return prediction characteristics of real assets?

Moderator:
Chairman of the Investment Committee, ALLEGHENY COLLEGE

Panelists:
Vice President of Business Development, RMK TIMBERLAND GROUP
Director and Chairman of the Nominating Committee, Cleveland State University Foundation Board
Managing Director of Mutual Funds, WELLS REAL ESTATE FUNDS
Founder and CIO, WOODBOURNE MANAGEMENT INTERNATIONAL

11:20

Refreshment Break

Sponsored By:
WELLS REAL ESTATE FUNDS

11:30

ENDOWMENTS AND FOUNDATIONS, WHAT IS INSTORE FOR THE FUTURE AND WHAT PRECAUTIONS ARE THEY TAKING IN THE EVENT OF CONTINUED UNSTABLE MARKET CONDITIONS

Moderator:
Managing Director & CEO, ANCHOR POINT CAPITAL, LLC

Panelists:
Chief Financial Officer, SIERRA HEALTH FOUNDATION
Chief Investment Officer, EDYTH BUSH CHARITABLE FOUNDATION, INC.
Chief Operating Officer, THE AMATEUR ATHLETIC FOUNDATION OF LOS ANGELES
Managing Director, VULCAN CAPITAL

12:30 p

INNOVATIVE ALTERNATIVE PERSPECTIVES ON FIXED INCOME MARKETS

• How to best manage a fixed income portfolio in the current interest rate environment
• Hedging of credit spread risks in intensity models
• Correlation between interest rates and credit spreads
• Prices and Liquidity
• What effect does mortgage refinancing have on interest rate volatility?
• Opportunities in global fixed income
• Innovative alternative perspectives on Fixed Income Markets

Moderator:
President, CEO, RANCHO CAPITAL MANAGEMENT, INC. (FAMILY OFFICE)

Panelists:
Principal, Chief Investment Officer, STW FIXED INCOME MANAGEMENT
Co-Founder & Managing Director, LM CAPITAL GROUP
Managing Director, AMBIT FUNDING

1:15

Luncheon
"Gold as an asset class"

Investment Research Manager, WORLD GOLD COUNCIL

2:30

PRIVATE EQUITY MARKET OUTLOOK, WHERE ALL THE ACTION IS AND WHAT TO STAY CLEAR FROM

• Convergence of private equity and hedge funds
• Trends, sustainability and issues of 'hybrid' funds
• Searching for new investment opportunities
• What is the pulse of the real estate private equity market?
• How do the evolution of large cap private equity and the future drivers of superior returns?
• Large-cap private equity players differentiate themselves as they search for robust investment opportunities globally
• How are private equity firms producing returns from companies that linger just below the radar screen?
• How do private equity investments create value in turnaround/distressed situations?

Moderator:
Senior Research Analyst, HAMMOND ASSOCIATES

Panelists:
Principal, RCP ADVISORS
Vice President, Private Equity, NORTHERN TRUST GLOBAL INVESTMENTS
Managing Member, BREEZE VENTURE MANAGEMENT

3:15

ALPHA GENERATION - THE CHALLENGES OF BUILDING A SOLID ALPHA PORTFOLIO CAPABLE OF NAVAGIATING THROUGH A TURBULENT ECONOMIC ENVIORMENT

• Generating alpha in a time of mounting risks
• Activist investing as a route to alpha
• Is alpha being squeezed out of the market? Fact or fiction?
• Are fund of funds capable of providing sustainable alpha?
• Are investor’s expectations of sustained alpha unrealistic given the current market environment?
• What challenges are investors facing when constructing an alpha portfolio?
• Are hedge funds a good source of alpha?

Moderator:
Trustee, VIRGINIA RETIREMEMT SYSTEM

Panelists:
Chief Executive, ARLINGTON CAPITAL INVESTORS
Portfolio Manager, LATEEF INVESTMENT MANAGEMENT

3:55

“FUNDAMENTAL INDEXING – INVESTING MORE INTELLIGENTLY”
Vice President, Endowments & Foundations, FTSE AMERICAS

4:15

Refreshment Break

Sponsored By:
LATEEF INVESTMENT MANAGEMENT

4:30

WHAT ARE CONSULTANTS VIEWS REGARDING THE ENDOWMENT & FOUNDATION SECTOR? WHAT ADVICE ARE THEY GIVING THEM AND WHAT SHOULD MANAGERS BE ON THE LOOKOUT FOR?
This lively panel, conducted in roundtable format, will attempt to answer prevalent and insightful questions regarding endowments and foundations from a consultant’s perspective.

Roundtable Participants:
Managing Director, Commonfund
Director/Manager of Research, Canterbury Consulting
Managing Director - Director of Foundation and Non-Profit Consulting, Citi Institutional Consulting

5:00

RISK - GAINING A BETTER UNDERSTANDING THROUGH ACTIVE MANAGEMENT

• Enhancing portfolio performance through active risk management
• Multi-dimensional risk management
• Asset allocation and the influence of downside risk
• Harnessing asymmetry to improve risk adjusted returns

Moderator:
Professor of Finance, Cal State Dominguez Hills

Panelists:
Senior Vice President, CITIGROUP / SMITH BARNEY
Director of Research, QIS ADVISORS
Equity Portfolio Manager, FAF ADVISORS

5:40

MANAGER SELECTION - ART, SKILL, SCIENCE OR A LITTLE BIT OF EACH

• What are the key determinants when selecting a manager?
• Is manager selection becoming more challenging given the ever growing pool of managers? If so, why?
• How are endowments and foundations choosing managers? What are the foremost determinants they searching for?
• Defining and managing investment manager styles
• What are the most effective quantitative and qualitative methods for selecting managers?
• Does it matter how you select managers?
• Is it possible to consistently choose managers that surpasses the benchmark; if so, what is the secret?

Moderator:
Managing Director, GOTTEX FUND MANAGEMENT

Panelists:
Managing Partner and CIO, Ocean Endowment Fund, LLC and Former Managing Director, Stanford Management Company
Chair, Investment Committee, OBERLIN COLLEGE
CFRE, Vice President for Institutional Advancement, ADAMS STATE COLLEGE FOUNDATION

6:30

Cocktail Reception

Sponsored by:
FTSE AMERICAS

Tuesday, February 5, 2008

7:15a

Continental Breakfast
Sponsored by:

7:45

Co-Chair Welcoming Remarks

8:00

President/Principal, ORE HILL PARTNERS, LLC

8:30

9:00

9:30

TRANSITION MANAGEMENT: AVOIDING THE PITFALLS AND ACHIEVING A SEAMLESS CONVERSION
• Understanding the transition process before, during and after
• Steering clear of the pitfalls of transitions and setting appropriate benchmarks
• Living up to the expectations of your clients? Assuming responsibility
• Transition manager selection, how to choose and what to look for
• Index strategies for transitions and asset allocation shifts
• Essential fiduciary responsibilities of the transition manager

Moderator:
Trustee, INKSTER (MI) POLICE & FIREMEN'S PENSION BOARD

Panelists:
Director, BLACKROCK MERRILL LYNCH TRANSITION MANAGEMENT
Director, MELLON TRANSITION MANAGEMENT SERVICES

10:00

LIAIBLITY INVESTING FOR PUBLIC FUNDS

Principal & Consulting Actuary, BUCK CONSULTANTS

10:30

ENVIRONMENTAL INFRASTRUCTURE; WETLANDS, WILDLIFE AND REAL ESTATE/PRIVATE EQUITY
Discussion on their latest project “Investing in Environmental Infrastructure; Wetlands, Wildlife and Real Estate/Private Equity”.
Learn about the economics of protecting and restoring the environment through wetland mitigation and habitat conservation banking.

Senior VP of Business Development, TIMBERVEST

11:00

“DARLINGS OF THE DOW: HOW TO IMPROVE YOUR ALPHA"
• Unique research
• Limited selection
• Defined performance period

Speaker:
CIO & Research Director, CFA, PENSION MANAGEMENT COMPANY

11:20

CHALLENGES AND DEVELOPMENTS FACING SOCIALLY RESPONSIBLE INVESTING

Moderator:
Financial Officer, CALVERT FOUNDATION

Panelists:
CFA, Senior Vice President, COMMUNITY CAPITAL MANAGEMENT
Director, CTS STRATEGIC INVESTMENTS
Senior Philanthropic Advisor, ROCKEFELLER PHILANTHROPY ADVISORS
Director, DEUTSCHE ASSET MANAGEMENT

12:20 p

Co-Chair Closing Remarks / Conference Concludes

12:40

Golf Tournament