Agenda

Partner & Managing Director, THE BOSTON
CONSULTING GROUP
Senior Investment Officer, Fixed Income, CALPERS
Professor of Finance, CAL STATE DOMINGUEZ HILLS
Director/Manager of Research, CANTERBURY CONSULTING
President & CEO, COLLIER FAMILY OFFICE
Senior Vice President , CTC CONSULTING INC.
Senior Consultant, Dir MRS, EVALUATION ASSOCIATES
Analyst, FALCON INVESTMENT MANAGEMENT LLC
Managing Director, GENESEE INVESTMENT (FAMILY OFFICE)
Executive Director, HEALTH SERVICES RETIREMENT PLAN
Managing Director, HOWELL FAMILY TRUST (FAMILY OFFICE)
Trustee, INKSTER (MI) POLICE & FIREMEN'S
PENSION BOARD
Fund Administrator, IRON WORKERS LOCAL #1
BENEFIT FUNDS
Trustee, JACKSONVILLE POLICE & FIRE PENSION FUND
Principal, JACOBSON CAPITAL (FAMILY OFFICE)
Principal, KRIEGER FAMILY OFFICE
Trustee, MACDONALD FAMILY FOUNDATION
Trustee, MACDONALD FAMILY FOUNDATION
Associate, MEKETA INVESTMENT GROUP, INC.
Managing Partner, MICHELSEN FAMILY PARTNERS
(FAMILY OFFICE)
Chairman, NEW ORLEANS MUNICIPAL EMPLOYEES’ RETIREMENT SYSTEM
Planning Officer, OKLAHOMA FIREFIGHTERS PENSION & RETIREMENT SYSTEM
Board Member, ONTARIO MUNICIPAL EMPLOYEES RETIREMENT SYSTEM
Chief Investment Officer, PACELINE CAPITAL ADVISORS

Chairman of the Board, Trustee, PHILADELPHIA BOARD
OF PENSIONS
Trustee, PHOENIX FIREFIGHTERS EMPLOYEE BENEFIT TRUST FUND
Trustee, PHOENIX FIREFIGHTERS EMPLOYEE BENEFIT PLAN
Managing Director, PLEXUS PLAN SPONSOR GROUP, INC.
Trustee, POLICEMEN’S ANNUITY & BENEFIT FUND
OF CHICAGO
President, PPCA INC.
Director, Non-U.S. Equity Research, ROGERSCASEY
Chairman, Investment Committee, RUTGERS
UNIVERSITY ENDOWMENT
Senior Philanthropic Advisor, ROCKEFELLER
PHILANTHROPY ADVISORS
Assistant Chief Investment Officer, SAN DIEGO COUNTY EMPLOYEES RETIREMENT ASSOCIATION
Treasurer & Tax Collector, COUNTY OF SAN DIEGO
Chief Deputy Treasurer, SAN DIEGO COUNTY
TREASURER’S OFFICE
Chief Investment Officer, SOUTH CAROLINA RETIREMENT SYSTEMS INVESTMENT COMMISSION
Treasurer, CITY OF SOUTHFIELD MICHIGAN
Chief Investment Strategist, Senior Managing Director,
TIAA-CREF
Vice-Chairman, TULARE (CA) COUNTY EMPLOYEES RETIREMENT ASSOCIATION
President, UNITED PHOENIX FIREFIGHTERS ASSOCIATION
Associate Professor of Finance, UNIVERSITY OF NORTH CAROLINA
General Counsel, WEST VIRGINIA TREASURY

Sunday, February 3, 2008

11:00 a

Registration

12:20 p

Opening Remarks

12:30

CHALLENGES AND DEVELOPMENTS FACING THE ASSET ALLOCATION PROCESS - WHAT STRATEGIES WILL WORK BEST FOR THE FUTURE?

• What role do structured products play in asset allocation?
• Strategic asset allocation
• What is driving liability driven investing?
• Tactical asset allocation
• Using ETFs in TAA strategies
• The evolution of TAA to GTAA
• Dynamic asset allocation
• Tactical vs. strategic asset allocation
• Critical issues regarding absolute returns

Moderator:
Chairman, NEW ORLEANS MUNICIPAL EMPLOYEES’ RETIREMENT SYSTEM

Panelists:
Investment Committee Chair, KOREA INVESTMENT CORPORATION
Chief Economist, FAF ADVISORS INC
Managing Director of Research and Investment Management, RESEARCH AFFILIATES LLC

1:30

Managing Director, WACHOVIA

1:50

MANAGER SELECTION - WHAT TO LOOK FOR, WHO TO AVOID AND WHERE TO FIND THEM

• Manager selection risk factors
• Working with a consultant during the manager selection process
• Qualitative screening and due diligence
• Thresholds for active skill ratios and expected returns
• What should an institutional investor be looking for when selecting a manager?

Moderator:
Chairman of the Board, TRUSTEE, PHILADELPHIA BOARD OF PENSIONS

Panelists:
President, FALCON POINT CAPITAL, LLC
Managing Director, FISHER LYNCH CAPITAL

2:30

THE ROLE OF ALTERNATIVE INVESTMENTS IN THE ASSET ALLOCATION PROCESS
This panel, comprised of industry experts, will examine and discuss challenges and the evolving process of incorporating alternative investments to the asset allocation process.

Moderator:
Planning Officer, OKLAHOMA FIREFIGHTERS PENSION & RETIREMENT SYSTEM
Managing Principal, MEKETA INVESTMENT GROUP

SUPERBOWL PARTY

Monday, February 4, 2008

7:15 a

Continental Breakfast

8:30

Co-Chair Welcoming Remarks

8:40

Director, SG AMERICAS SECURITIES, LLC

9:00

"Finishing +30%: Find Alpha in All Economic Climates"

Managing Member & Portfolio Manager, AURARIAN CAPITAL LLC

GENERAL SESSION

9:20

REAL ASSETS & REAL ESTATE:

• How do real assets fit into a portfolio?
• Is infrastructure truly an asset class?
• Private equity investments in oil and gas
• Creative approaches to investing in real estate
• Which real estate vehicles will perform best given the current environment
• Investing in REITS, public or private
• Timber, how will returns stack up in the future?
• Real Estate, is it still alluring at today’s levels?
• Investing in agriculture; harvesting returns

Moderator:
Assistant Chief Investment Officer, SAN DIEGO COUNTY EMPLOYEES RETIREMENT ASSOCIATION

Panelists:
Trustee, POLICEMEN’S ANNUITY & BENEFIT FUND OF CHICAGO
President & Chief Executive Officer, PENSCO TRUST COMPANY
Founder and CIO, WOODBOURNE MANAGEMENT INTERNATIONAL
Senior VP of Business Development, TIMBERVEST

10:20

FIXED INCOME MARKET OUTLOOK

• Interest rates, where are they headed and why?
• Developments in geopolitical risk - what must fixed income investors be on the lookout for?
• The yield curve and what it means to fixed income investing
• A perfect match, fixed income and liability driven investing
• What should be in your fixed income portfolio?
• "A history of interest rates 2000 BC to present"
• When does 14% = 4%?
• Mortgage backed securities as a source of income
• Investing in structured products and derivatives
• Bond market valuation and pricing
• Fixed income arbitrage

Moderator:
Senior Investment Officer, Fixed Income, CALPERS

Panelists:
First VP Investments, GOODSON, KIEFFER & CARTER ASSET MANAGEMENT GROUP OF WACHOVIA SECURITIES
Principal, Chief Investment Officer, STW FIXED INCOME MANAGEMENT
Managing Director, KBW CREDIT OPPORTUNITY FUND

11:20

Refreshment Break

Sponsored by:
FAF ADVISORS

11:30

THE QUEST FOR ALPHA, WHERE TO LOOK AND HOW TO GET IT

• Alpha strategies for the post-bubble environment
• Identifying managers and strategies with the highest probability of obtaining alpha
• Separating the alpha and beta risk for a more efficient portfolio
• Portable alpha strategies investors should be looking at
• Key determinants and design to successfully implementing portable alpha strategy?
• Optimizing the use of alpha generators
• Sources of uncorrelated alpha

Moderator:
Treasurer & Tax Collector, COUNTY OF SAN DIEGO

Panelists:
Senior Vice President, Head, PLEXUS PLAN SPONSOR GROUP, INC.
KNIGHTSBRIDGE ASSET MANAGEMENT

12:15 p

MANAGING RISK AND RISK DETERMINANTS

• Risk management techniques by means of options, futures and options on futures and swaps
• The adequacy of traditional risk measures versus alternative risk measures, how do they differ?
• Assessing global risk and returns
• The importance of assessing operational risk in hedge fund investments
• Risk measures in a portfolio construction framework
• Top strategic initiatives for risk management
• Revisiting the fundamentals of risk management, do they still apply?
• Pension risk management trends
• Balancing the demands of risk management against time and cost
• Administering Long-term Risk in a Short-term environment

Moderator:
Partner & Managing Director, THE BOSTON CONSULTING GROUP

Panelists:
Chief Financial Officer, CAP FUND, LP
Managing Director, IFS GLOBAL RISK SOLUTIONS

1:15

Luncheon

"Gold as an asset class"
Investment Research Manager, WORLD GOLD COUNCIL

2:30

Consultant Roundtable

Panelists:
Consultant, MEKETA INVESTMENT GROUP, INC.
Managing Director, COMMONFUND
Director, Non-U.S. Equity Research, ROGERSCASEY
President, PPCA INC.
Managing Director, RUMSON CAPITAL ADVISORS

3:45

HEDGE FUNDS

Moderator:
Chief of Deupty Treasurer, SAN DIEGO COUNTY TREASURER’S OFFICE

Panelists:
Investment Committee Member, COTTAGE HEALTH SYSTEMS
Director of Business Development, AVALON CAPITAL ADVISORS

4:15

Afternoon Refreshment Break
Sponsored by:

4:30

PRIVATE EQUITY, OUTLOOK FOR THE FUTURE

• Where to look for future opportunity in private equity
• Secondary private equity market
• Emerging trends and allocation strategies
• The world of mega funds
• PIPES trends and developments
• The correlation between capital supply, demand and private equity returns
• What exit strategies are working best, an which will work best in the future

Speakers:
President & CEO, PERMAL CAPITAL MANAGEMENT
Managing Partner, BLOTT ASSET MANAGEMENT LLC

5:00

ADDING FUNDS OF FUNDS TO AN INSTITUTIONAL PORTFOLIO

• Have fund of funds become the platform of choice?
• How the general partner of the fund of funds birddogs your underlying investments
• Do international funds of funds offer an advantage?
• How are funds of funds allocating capital across numerous hedge fund strategies?
• How can fund of funds remain viable and still demonstrate the value they provide to investors?
• The pros & cons of separately managed accounts vs. co-mingled
• Concentrated, sector specific, niche fund of funds - who is leading in performance?

Moderator:
Chief Investment Officer, PACELINE CAPITAL ADVISORS

Panelists:
Managing Director, MAYERCAP
Associate Director, PACIFIC ALTERNATIVE ASSET MANAGEMENT COMPANY

5:50

PORTFOLIO CONSTRUCTION INCORPORATING ASSET ALLOCATION

• Incorporating alternative strategies within traditional strategies
• Diverse methodologies to hedge against inadvertent risk
• Determining the optimal asset location
• Merging alternative investment portfolios
• The outcome of client driven strategy allocations & custom-made approaches to portfolio construction
• Determining the optimal investment mix
• Designing portfolios incorporating asymmetric risk structures
• Latest methodologies for constructing efficient portfolios
• The advantage of managed accounts in portfolio construction

Moderator:
Chief Investment Strategist, Senior Managing Director, TIAA-CREF

Panelists:
Vice President, RESEARCH AFFILIATES

6:30

Cocktail Reception

Sponsored by:
SG AMERICAS SECURITIES, LLC

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

Director and Senior Portfolio Specialist, EVERGREEN INVESTMENTS

9:00

“Short Selling and Equity Lending for Endowments and Foundations”

Associate Professor of Finance, UNIVERSITY OF NORTH CAROLINA

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 MANAGEMENTDirector, 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
A discussion of 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