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Thursday 7 February 2008:
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12:30
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Pre-Conference Workshop: (Box Lunch Served)
Keys to Successful Manager Selection
This informative workshop will give practical tips on manager screening and due diligence. In addition, it will give guidance about ongoing hedge fund manager monitoring and what to do when the market goes sour.
Workshop Leader:
Managing Director, PERTRAC FINANCIAL SOLUTIONS
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14:00
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Institutional Investor Closed Door Session
This session is exclusively for end investors to discuss amongst themselves common investment challenges. Each session leader will pose a question or theme for discussion amongst the session leaders and with the audience.
Session Leaders:
President and Chief Executive Officer, ABP INVESTMENTS US, INC.
Deputy Chief Investment Officer, PEARL GROUP LIMITED
Managing Director of Global Public Markets, TIAA-CREF
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15:00
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Co-Chair Welcoming Remarks
Managing Director, ABSOLUTE RETURN CONSULTING (ARC)
Chairman, EUROPEAN PARLIAMENT PENSION FUND
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15:15
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Optimizing the Investor/Manager Relationship
This session will offer investment managers a unique window of insight into the candid views of leading Institutional Investors in regard to the investor/manager relationship. Investors will discuss their preferences in regard to marketing methodologies as well as how to avoid some of the common mistakes made by managers in their efforts to engage investors. Investors will also discuss best practices for maintaining and optimizing successful relationships with managers once allocations have been made.
Session Leaders:
Investment Principal, AON CONSULTING LTD.
Manager of Portfolio & Trading Strategies,
ARIZONA
STATE
RETIREMENT SYSTEM
Executive Director,
CHICAGO
PARK EMPLOYEES' ANNUITY & BENEFIT FUND
Chief Executive, SAUL TRUSTEE COMPANY
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16:15
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Refreshment Break
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16:45
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Striking the Right Balance Between Alpha and Beta in the Institutional Investor Portfolio
• Alpha and Beta Are Frequently Misdefined and Misrepresented. Does This Matter and Should We Mind?
• Is ‘Portable Alpha’ the Way Forward for Investors Seeking Alpha?
• Are Hedge Funds A Good Source of Alpha?
• Can Funds of Funds Provide Sustainable Alpha?
• How Should Investors Seek To Integrate Alpha and Beta Decisions?
Moderator:
Chief Investment Officer, CCLA INVESTMENT MANAGEMENT LIMITED
Panelists:
Chief Executive Officer, APK PENSIONSKASSE AG
Chief Investment Officer, DEUTSCHE BANK PENSION FUND
Senior Manager, KPMG LLP
Head of Investment Consulting Germany, MERCER INVESTMENT CONSULTING
Business Head UK, RMF INVESTMENT MANAGEMENT
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18:00
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Un-Correlated Hedge Fund Strategies: Volatility, Insurance Linked, Weather Derivatives, Asset Based Lending and Investing, and Others
• Why do Traditional Hedge Fund Strategies Correlate in Times of Distress? (August 2007, April/May 2005, Etc)
• What Strategies Consistently Exhibit No, Low or Inverse Correlation to Traditional Hedge Fund Strategies and Why? Volatility Trading, Asset Based Lending and Investing, Insurance Linked Transactions
• What Are the Key Risks in Un-Correlated Strategies? Idiosyncratic Events, Illiquidity, Price Opaqueness?
• How Can Investors Get Exposed to These Strategies?
Moderator:
Chief Investment Officer, VBV PENSIONSKASSE
Panelists:
Managing Director, ABSOLUTE RETURN CONSULTING (ARC)
Managing Director, GOTTEX ASSET MANAGEMENT LTD.
Managing Partner and Chief Investment Officer, INTERNATIONAL INVESTMENT GROUP
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19:00
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Sessions Conclude
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19:00
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Cocktail Reception
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Friday 8 February 2008:
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8:15a
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Continental Breakfast
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8:30
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Co-Chairperson’s Remarks
Managing Director, ABSOLUTE RETURN CONSULTING (ARC)
Chairman, EUROPEAN PARLIAMENT PENSION FUND
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8:45
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Meet the Managers
This session will consist of seven managers with a total of ten minutes each to speak. There will be no Power Point presentations during this session. The seven managers will one by one have an opportunity to discuss their background, strategy, methodology and performance of their funds. There will be a session leader carefully monitoring the ten minute limit. After all seven managers have spoken, we will open the floor to questions from the audience.
Facilitator:
Senior Consultant, WATSON WYATT
Panelists:
Senior Credit Analyst, ALPSTAR
Managing Director, CONTRARIAN CAPITAL MANAGEMENT, LLC
Vice-President-Institutional Bank Loan Relationships, EATON VANCE MANAGEMENT
Chief Executive, EDDINGTON CAPITAL MANAGEMENT LTD.
Managing Partner and Chief Investment Officer, INTERNATIONAL INVESTMENT GROUP
Head of MainFirst Asset Management, MAINFIRST BANK AG
Head of Global Quant Team, Senior Portfolio Manager, SEB ASSET MANAGEMENT
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10:15
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Private Equity Outlook for Institutional Investors
• What Do Credit Crunch and Listed Market Declines Mean for Investors' Private Equity Allocations?
• How Does a Likely Slowdown in Exits Affect Future Allocations?
• Best Areas of
Opportunity
for Private Equity in View of Market Changes
• Biggest Threat to Industry Going Forward
• What Do You Think the Biggest Surprise Will Be in Private Equity Over the Next Five Years?
Moderator:
Investment Director, SL CAPITAL PARTNERS LLP
Panelists:
Corporate Treasurer, CITY OF LONDON CORPORATION
Chief Investment Officer, COUNTY COUNCIL OF GÄVLEBORG
Principal, MERCER INVESTMENT CONSULTING
Director, WILSHIRE PRIVATE MARKETS GROUP
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11:15
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Refreshment Break
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11:45
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Understanding and Implementing an Alpha Generating Global Tactical Asset Allocation Strategy
• What Is the Difference Between a Global Macro/Managed Futures Approach and GTAA?
• Does GTAA Consistently Deliver Alpha to the Investor?
• For Which Strategic Asset Allocations Does GTAA Make Sense and For Which Does it Not?
• What Are the Pitfalls Behind GTAA?
Moderator:
Chief Executive Officer, COMPLEMENTA INVESTMENT-CONTROLLING AG
Panelists:
Director of Finance & Administration, CORAM FAMILY FOUNDATION
Managing Director, KBC PENSIOENFONDS
Head of European Business Development, MORLEY FUND MANAGEMENT
Group Chief Financial Officer, NORDEA LIFE & PENSIONS
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12:45
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The New Environmental Currency: Carbon
• What Are the Price Influence Factors On the EU Allowance Price?
• What Is the Effect of Linking to Other Schemes Outside the EU?
• Is a Voluntary Market a Useful Concept or Do Cultural Differences Invalidate It?
• How Is the Voluntary Market Certified?
• The Role of Nuclear Energy in Cutting Carbon Emissions
• Are the Carbon Markets All a Gimmick Anyway?
Moderator:
Chairman, EUROPEAN PARLIAMENT PENSION FUND
Panelists:
Bernd Mack, Senior Project Manager, EUREX - DEUTSCHE BÖRSE GROUP
Senior Investment Manager, VBV GROUP
Gerry O'Carroll, Senior Consultant, WATSON WYATT
Carbon Finance Coordinator, THE WORLD BANK
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13:45
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Luncheon
Sponsored by: RAMIUS
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15:00
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Asset Liability Management in Alternative Investments
• How do We Define Alternative Within the Framework of Asset Liability Management
• Should We Group Alternative Investments Into "Mainstream" (E.G. Real Estate) and "Exotic" (E.G. Hedge Funds)
• When Modeling, How Should We Deal With Short Histories and How Should Data Be Unsmoothed?
• How Can We Usefully Include Alternatives in the ALM Framework?
• Is ALM Enough or Do We Need Additional Criteria?
• Historical Data Suggests Hedge Funds Experience High Return And Low Risk. ALM Studies Will Suggest Large Allocations to Hedge Funds as a Result
• Why Don’t We do This and What Aspects Are Not Properly Captured By an ALM Study?
Moderator:
Director, Investment Advice, RUSSELL INVESTMENT GROUP
Panelists:
Head of ALM, ABP INVESTMENTS
Chief Executive Officer, ASSET ALLOCATION ALPHA
Head of Alternative Beta, PGGM INVESTMENTS
Senior Investment Analyst, THE
UNIVERSITY
OF
CONNECTICUT
FOUNDATION
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16:00
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Refreshment Break
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16:30
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Strategy Allocation and Manager Selection in Fund of Funds: What Is More Important and What Are the Factors for Success?
Investor Perspective:
• How Do You Select Your Strategies with About 15 Main Strategies in Some 5 Regions?
• How Often Do You Review Your Strategy Allocations: Monthly, Quarterly, Half Yearly or Annually?
• Is Your Review Based on Economic Cycles or Interest Rates or Something Else?
• Do You Review This By Region or Do You Take a Global Approach?
• When You Have Decided on a “New” Approach Do You Look for Qualified Traders for That Specific Area and Strategy and if so, Where Would You Then Go and Look to Find Good Traders for Your Needs?
• When You Decide On New Strategies Like Commodities, Energy Related Fields or SRI, Do You Look at Global Products or Regional Ones and Where Do You Find Traders for These Specific Fields?
Manager Perspective:
• When You Select Managers Is this Based on Either There Skill in a Certain Strategy, Their Regional Know How, or Their Reputation/Performance?
• What Is the Main Driving Force of Your Selection: Track Record, Years in the Biz, Size, Skill or Something Else?
• What Are Absolute No No’s for You When You Meet New Traders?
• To What Degree Do You Talk to and Listen to Your Peers in Trader Selection?
• Do You Specifically Go Out and Find Traders to Fit a Pre-Selected Strategy or Region?
• Do You Use Multi Strategy Trading Groups and if So Why?
• How Should Investors Seek To Integrate Alpha and Beta Decisions?
Moderator:
INDEPENDENT ADVISOR
Panelists:
Senior Portfolio Manager, COMMERZBANK
Portfolio Manager, Alternative Investments, FOLKSAM
Head of External Asset Management, FONDS DE RESERVE POUR LES RETRAITES
Chief Investment Officer,
PAMPLONA
CAPITAL MANAGEMENT
Head of Fund of Funds Services, SMN INVESTMENT SERVICES GMBH
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17:45
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Developing a Diversified Portfolio of Managers and Asset Classes
• Why Should Investors Diversify?
• When Diversifying to Avoid Risk, Are We Considering Hidden Risks?
• What is the Role of Fixed Income in a Diversified Portfolio?
• Is The Role of Alternative Investments Changing in a Diversified Portfolio?
• To What Degree Do Hedge Fund Strategies Diversify a Portfolio?
• How Effective Are Fund of Fund Strategies in Diversification?
• What is the Ideal Composition of a Diversified Portfolio and How Should it Be Managed?
Moderator:
Vice President of Finance & Administration,
LOYOLA
UNIVERSITY
OF
MARYLAND
Panelists:
Chief Executive, ALLENBRIDGEEPIC INVESTMENT ADVISERS
Chief Executive, ASSET ADVISORS
Head of Risk and Asset Allocation, NATIONAL PENSIONS RESERVE FUND
Chief Executive Officer and Chief Investment Officer, RAMIUS
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18:45
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Conference Concludes
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18:45
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Closing Cocktail Reception
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