July 9-11, 2008
Hyatt Regency Newport, Newport, RI
TEXT AGENDA (as of 05-09-2008)

Business Development Manager, ALBOURNE AMERICA LLC
Partner, ALTIUS ASSOCIATES
Executive Director, ARKANSAS TEACHERS RETIREMENT SYSTEM
Chairman, AUSTIN (TX) POLICE RETIREMENT FUND
Trustee, BALTIMORE RETIREMENT SYSTEMS
Trustee, CITY OF BOSTON PENSION FUND
Financial Analyst, BOSTON (MA) WATER & SEWER COMMISSION
Director of Finance, BOSTON (MA) WATER & SEWER COMMISSION
Truste, BRAINTREE RETIREMENT BOARD
Plan Manager & CEO, CAAT PENSION PLAN
Executive Director, CHICAGO PARK EMPLOYEES' ANNUITY & BENEFIT FUND
Chairman, FIRE & POLICE PENSION FUND ASSOCIATION OF COLORADO
Trustee, CONCORD RETIREMENT BOARD
City Controller, CITY OF CRANSTON (RI)
Chairman, EUROPEAN PARLIAMENT PENSION FUND
Vice Chairman, PHILADELPHIA BOARD OF PENSIONS
Chairman of the Board, HAMPDEN COUNTY RETIREMENT SYSTEM
State Treasurer, THE STATE OF IDAHO
State Treasurer, THE STATE OF IOWA
Trustee, JACKSONVILLE POLICE & FIRE PENSION FUND
Executive Director-Administrator, JACKSONVILLE POLICE & FIRE PENSION FUND
Controller, TOWN OF JOHNSTON (RI)
Trustee, KANSAS CITY (MO) EMPLOYEES RETIREMENT SYSTEM
Executive Director, MANCHESTER EMPLOYEES' CONTRIBUTORY RETIREMENT SYSTEM

Vice President, MARQUETTE ASSOCIATES, INC
Board Member, MassPRIM
Director, Retirement Board, MASSACHUSETTS WATER RESOURCES AUTHORITY RETIREMENT
Vice Chairman, MIDDLESEX RETIREMENT SYSTEM
Investment Officer/Hedge Fund Analyst, NEW JERSEY DIVISION OF INVESTMENT
Assistant Comptroller For Pensions, NEW YORK CITY RETIREMENT SYSTEMS
Chairman, NEW ORLEANS MUNICIPAL EMPLOYEES’ RETIREMENT SYSTEM
Secretary, CITY OF NEWPORT
Senior Accountant, CITY OF NEWPORT
Commissioner, NEWPORT'S TRUST AND INVESTMENT COMMISSION
Battalion Chief, Vice Chairman, OMAHA POLICE & FIRE PENSION SYSTEM
Trustee, OMAHA (NE) POLICE & FIRE PENSION SYSTEM
State Treasurer, STATE OF PENNSYLVANIA
Director of Communication, STATE OF PENNSYLVANIA
Vice President, PUNTER SOUTHALL & CO, LLC
State Treasurer, STATE OF RHODE ISLAND
Managing Director, ROGERSCASEY
Vice Chairman & Trustee, SAN ANTONIO FIREMEN'S & POLICEMEN'S FUND
Institutional Director, SMITH BARNEY CONSULTING GROUP
Trustee, VIRGINIA RETIREMENT SYSTEM
Pension/Benefits Manager, TOWN OF WEST HARTFORD PENSION
Trustee, WEST PALM BEACH (FL) POLICE OFFICERS PENSION FUND
Deputy Treasurer, WEST VIRGINIA STATE TREASURER'S OFFICE

Wednesday, July 9, 2008

7:15a

OPAL FINANCIAL AMERICA’S CUP SAILBOAT REGATTA

Sponsored By:

11:00

Registration

12:55p

Co-Chair Opening Remarks

1:00

TBA, STATE STREET GLOBAL MARKETS

1:20

Director of Client Service, GOLDENTREE ASSET MANAGEMENT

1:40

Practices and Techniques for Public Fund Investing In An Evolving Global Economy

Moderator:
Chairman, NEW ORLEANS MUNICIPAL EMPLOYEES’ RETIREMENT SYSTEM

Panelists:
Trustee, VIRGINIA RETIREMENT SYSTEM
Chairperson, VERMONT STATE TEACHERS RETIREMENT SYSTEM

2:45

Traditional vs. Alternative Investment; Are Public Funds Beginning to Shift Their Focus?
• Are the prevailing sources of returns from asset allocation due to benchmark based management?
• Is the definition of the Alternative Investing Sector evolving? If so, how far could it go?
• The evolving definition of the Alternative Investing Sector
• Long Only vs. Long/Short Emerging Markets

Moderator:
Vice President, PUNTER SOUTHALL & CO, LLC

Panelists:
Institutional Director, SMITH BARNEY CONSULTING GROUP

3:30

Refreshment Break

Sponsored By:

3:45

State Treasurer Roundtable

Panelists:
State Treasurer, THE STATE OF IDAHO
State Treasurer, STATE OF PENNSYLVANIA
State Treasurer, STATE OF RHODE ISLAND
State Treasurer, STATE OF IOWA

4:45

Alpha vs. Beta - Are They Shifting in Relative Importance?
• Are investors coming to a realization that relying on easily attainable beta can be a risky proposition?
• While Alpha may be more costly and complex to attain, can it truly be less risky?
• Is Beta loosing its dominance as source of future returns?
• Looking at a range of instruments in achieving and transporting Alpha
• Creating portable alpha with emerging market equities
• Achieving variable beta management and portfolio composition with hedge funds and fund of funds?

Moderator:

Panelists:

5:45

Roundtable Discussion: Trustees, The Evolving Roles, Duties and Continuing Fiduciary Education Requirements
• How to make the most out of your relationships and extract the most value out of your consultants
• Keep up with and interpreting fiduciary responsibilities
• Avoiding and overcoming conflicts of interest
• How to best address the need for fiduciary education
• Increasing trustees role in manager evaluation and selection
• The growing expectations and requirements of trustees serving on Public Fund Boards

Moderator:
Pension/Benefits Manager, TOWN OF WEST HARTFORD PENSION

Panelists:
Chairman, EUROPEAN PARLIAMENT PENSION FUND
Director, Retirement Board, MASSACHUSETTS WATER RESOURCES AUTHORITY RETIREMENT

6:30

Cocktail Reception

Sponsored by:

Thursday, July 10, 2008

7:15a

Continental Breakfast

8:00

STAND ALONE

8:20

An In-Depth Evaluation of 130/30 Strategies and How They Can Benefit Public Funds
• 130/30 Short Extension Strategies
• Do 130/30 strategies capture the single greatest advantage in short selling?
• Where do 130/30 strategies fit in a public pension plan’s portfolio?
• Gaining Alpha through 130/30
• Which managers are best equipped to manage such 130-30 strategies?
• What are the risks involved?

Moderator:
Senior Associate, MERCER INVESTMENT CONSULTING

Panelists:
Managing Director, MERRILL LYNCH
Partner, ALPHA EQUITY MANAGEMENT, LLC

9:15

Hedge Funds, Fund of Funds and Multi-strategy - The differences, Similarities and Advantages. What is in store for the future?
• What criteria are leading FOFs using to select managers? Are the criteria evolving?
• How do FOF and Multi-strategy differ?
• What traditional managers can learn from hedge fund
• Diversification with hedge funds: benefits and trade-offs
• What to consider when choosing a hedge fund manager
• Forecasting trends in the hedge fund industry and the effects of institutionalization
• How can Public Funds ensure they are selecting a FOF that will deliver high value alpha strategies?
• What to look for when choosing the FOF that is right for your Pension Fund?
• What presently makes up best practice in FOF and Multi-strategy risk management?

Moderator:
Investment Officer/Hedge Fund Analyst, NEW JERSEY DIVISION OF INVESTMENT

Panelists:
Principal, MUIRFIELD CAPITAL MANAGEMENT LLC
Managing Director, MERIDIAN CAPITAL PARTNERS

10:15

Developments in the Fixed Income Sector
• Fixed Income’s role in a Public Pension Plan’s Portfolio
• The Economics of Interest Rates
• Interest Rates - what and where next? Pitfalls to avoid!
• Event Risk and the implications for corporate bondholders
• International Fixed Income
• How today’s economic environment affects your portfolio
• Evaluating Fixed Income Strategies and predicting future trends
• Projecting defaults and default rates

Moderator:
Managing Director, ROGERSCASEY

Panelists:
President, Director of Research, MIDWEST ASSET MANAGEMENT, INC

11:00

REFRESHMENT BREAK

11:15

Latest Trends in Private Equity and How They are Impacting Public Funds
• Should public funds be investing in first time funds
• Are hedge funds able to compete in a PE operational format?
• Distressed Investing in today’s economy
• The impact of globalization on limited partner and general partner relationships
• Exit Strategies which are hot: Buyouts, Roll-ups, M&A and IPO's,
• Fund Raising For Private Equity Funds
• Fund Commitment Decision Making, and Due Diligence Process

Moderator:
Trustee, CITY OF BOSTON PENSION FUND

Panelists:
Partner, ALTIUS ASSOCIATES
County Treasurer, NORFOLK COUNTY RETIREMENT BOARD

12:15P

Real Estate & Real Assets - What’s in Store for the Future?
• Which areas are producing the greatest returns?
• Investing in Real Estate today and tomorrow
• Distressed Real Estate, today’s distressed market vs. the past
• 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?
• What’s sparking all the excitement in Timber
• What is infrastructure and how can it fit in an Pension Plans portfolio?

Moderator:
Chairman, AUSTIN (TX) POLICE RETIREMENT FUND

Panelists:
Principal, PALISADES FINANCIAL LLC
CEO, INTERCONTINENTAL REAL ESTATE CORPORATION
Senior Vice President, NEW BOSTON REAL ESTATE INVESTMENTS

1:00

Luncheon

Speaker:
Investment Research Manager, WORLD GOLD COUNCIL

2:15

Manager Selection
• Identifying advantages & risks when choosing a fund manager
• Common Mistakes
• What does the research on Emerging Managers show?
• Emerging Managers - what to look for and where to find them?
• 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?
• Is Direct Investment prudent for a first time Emerging Manager investor?
• What function do consultants play in Emerging Manager selection and oversight?

Moderator:

Panelists:
Executive Director, ARKANSAS TEACHERS RETIREMENT SYSTEM
Partner, NORTH POINT ADVISORS

3:15

Indexing 101: Trends & Developments
• Innovations in indexing for the coming year
• Alternative Channels of Index Product Distribution
• Role of indexed products in beta risk allocation
• Are ETFs always the most efficient indexing vehicle for individual and/or institutional investors?
• When is it appropriate/how do indices add value?

Moderator::

Panelists:

4:15

Refreshment Break

Sponsored by:

4:30

Ethics and Fiduciary Responsibility Facing Plan Sponsors Today
• Examining the Fiduciary Obligations of Trustees
• Class Action/Securities Litigation
• Key responsibility issues facing Fund Managers today
• Re-examining Trustee Ethics
• What constitutes “Conflicts of Interest”
• Changes in Investment Policy & Development

Moderator:
Executive Director, HOLYOKE CONTRIBUTORY RETIREMENT

Panelists:
General Counsel, NYC POLICE PENSION FUND
President, Board of Trustees, CITY OF AURORA POLICE MONEY PURCHASE PENSION PLAN

5:30

Equity Investing
• Domestic vs. International Equity
• Enhanced equity strategies
• What to look for when selecting an equity manager

Moderator:
Portfolio Manager, NEW MEXICO STATE INVESTMENT COUNCIL

Panelists:
CFA, Director, Portfolio Manager, CLEARBRIDGE ADVISORS

6:30

Cocktail Reception

Friday, July 11, 2008

7:15a

Continental Breakfast

Sponsored by:

7:45

Co-Chair Welcoming Remarks

8:45

STANDALONE

9:00

CONSULTANTS ROUNDTABLE

Panelists:
Vice President, MARQUETTE ASSOCIATES, INC
President, PENSION FUND EVALUATIONS
Senior Institutional Consultant, CITIGROUP CONSULTING

10:00

The Evolving Landscape of the Pension Fund Sector
• Congressional and Regulatory Outlook
• Impact of SEC Adviser Registration
• Class Action/Securities Litigation
• How can pension plans remain independent from their state's deficit problems
• Best practices and compliance concerns for the hedge funds and fund of funds
• New federal legislation and regulatory developments
• What should pension funds be on the look out for when investing in offshore funds

Moderator:
Trustee, DEKALB COUNTY (GA) EMPLOYEE RETIREMENT SYSTEM

Panelists:
Vice President, mCAPITOL MANAGEMENT

11:00

Socially Responsible Investing

Panelists:
Chairman, EUROPEAN PARLIAMENT PENSION FUND

11:45

Co-Chair Closing Remarks / Conference Concludes