Emerging Managers  

Summit


June 7-9, 2009
__Chicago Marriott Downtown Magnificent Mile, Chicago, IL

PAST EMERGING MANAGERS SUMMIT AGENDA (as of 6-05-09)

Assistant Comptroller For Pensions, NEW YORK CITY RETIREMENT SYSTEMS
Portfolio Manager, Emerging & Minority Managers, ILLINOIS STATE BOARD OF INVESTMENT
President and CEO, ROGERSCASEY
Executive Director, CHICAGO TEACHERS PENSION FUND
Director of Economically Targeted Investments, NEW YORK CITY RETIREMENT SYSTEMS
Managing Director, MARYLAND STATE RETIREMENT & PENSION SYSTEM
Investment Analyst, Emerging and Minority Managers, ILLINOIS MUNICIPAL RETIREMENT FUND
Senior Investment Analyst, STATE RETIREMENT AGENCY OF MARYLAND
County Controller, ALLEGHENY COUNTY
Vice Chair of the Investment Committee, DISTRICT OF COLUMBIA RETIREMENT BOARD
Senior Investment Analyst, ENNIS KNUPP & ASSOCIATES
Managing Director - Public Markets, N.Y.C. COMPTROLLER'S OFFICE
MERCER INVESTMENT CONSULTING
Chairman, Investment Committee, TEXAS PERMANENT SCHOOL FUND
Trustee, KANSAS CITY (MO) EMPLOYEES RETIREMENT
Executive Director, CHICAGO (IL) PARK EMPLOYEES A&B FUND
Investment Analyst, CHICAGO TEACHERS PENSION FUND
Investment Analyst, CHICAGO TEACHERS PENSION FUND
Vice Chair, CITY OF FRESNO FIRE & POLICE RETIREMENT SYSTEM
Investment Analyst, MUNICIPAL EMPLOYEES' ANNUITY & BENEFIT FUND OF CHICAGO
Executive Director, MUNICIPAL EMPLOYEES' ANNUITY & BENEFIT FUND OF CHICAGO
Deputy Director, MUNICIPAL EMPLOYEES' ANNUITY & BENEFIT FUND OF CHICAGO
Associate, BECKER, BURKE ASSOCIATES
Planning Officer, OKLAHOMA FIREFIGHTERS PENSION & RETIREMENT SYSTEM
Director of Investments/Pension Policy, NYCERS TRUSTEE, NYC PUBLIC ADVOCATE
Trustee, BOCA RATON (FL) POLICE & FIRE RETIREMENT ASSOC.
Director, CLONTARF CAPITAL
Trustee, FIREMEN'S ANNUITY & BENEFIT FUND OF CHICAGO (IL)
Chief Investment Officer, FIREMEN'S ANNUITY & BENEFIT FUND OF CHICAGO (IL)
Trustee, CHICAGO (IL) TEACHERS PENSION FUND
Chairman, AUSTIN (TX) POLICE RETIREMENT FUND
President, BARRINGTON POLICE PENSION FUND
Trustee, BARRINGTON POLICE PENSION FUND
Trustee, CHICAGO PARK EMPLOYEES' ANNUITY AND BENEFIT FUND
President, ARLINGTON HEIGHTS POLICE PENSION FUND
Trustee, ARLINGTON HEIGHTS POLICE PENSION FUND
Trustee, ARLINGTON HEIGHTS POLICE PENSION FUND
Trustee, ARLINGTON HEIGHTS POLICE PENSION FUND
Sr. Investment Research Analyst, HEWITT INVESTMENT GROUP
Finance & Investment Manager, CHICAGO (IL) TRANSIT AUTHORITY RETIREMENT
Consultant - Director of Traditional Manager Research, ELLWOOD ASSOCIATES
Senior Vice President, Head, PLEXUS PLAN SPONSOR GROUP, INC.
Founder, IRENE'S HOME (CITY OF CHICAGO DEPARTMENT OF SOCIAL SERVICES)
Investment Analyst, PUBLIC SCHOOL TEACHERS’ PENSION AND RETIREMENT FUND OF CHICAGO

President & CEO, CONSULTIVA INTERNACIONAL, INC.
Chair, Investment Committee, OBERLIN COLLEGE
Manager of Investment Search, DIMEO SCHNEIDER & ASSOCIATES, L.L.C.
Trustee, POLICEMEN`S ANNUITY & BENEFIT FUND OF CHICAGO
Alternatives Analyst, DIMEO SCHNEIDER & ASSOC, LLC
Executive Director, COOK COUNTY (IL) ANNUITY & BENEFIT FUNDS
Investment Research Analyst, COOK COUNTY (IL) ANNUITY & BENEFIT FUNDS
Director of Investments, COOK COUNTY (IL) ANNUITY & BENEFIT FUNDS
Benefits Analyst, UNIVERSITY OF CHICAGO HOSPITALS
General Counsel and Chief Compliance Officer, ILLINOIS STATE BOARD OF INVESTMENT
Executive Director, LABORERS' ANNUITY AND BENEFIT FUND OF CHICAGO
Chief Financial Officer, POLK BROS. FOUNDATION
Managing Director, BEACON POINTE ADVISORS, LLC
Trustee, CHICAGO (IL) POLICEMEN'S ANNUITY & BENEFIT FUND
Trustee, BALTIMORE (MD) RETIREMENT SYSTEMS
Managing Director, DISABATO ADVISERS, LLC
President, OAKLAND MUNICIPAL EMPLOYEES' RETIREMENT SYSTEM
Vice President, CHICAGO (IL) POLICEMEN'S ANNUITY & BENEFIT FUND
Vice Chairman-Trustee, PHILADELPHIA BOARD OF PENSIONS
Chairman, UNITED AIRLINES UNITED PILOTS' RETIREMENT SYSTEM
Trustee, UNITED AIRLINES UNITED PILOTS' RETIREMENT SYSTEM
Trustee, UNITED AIRLINES UNITED PILOTS' RETIREMENT SYSTEM
National Pension Investment Coordinator, UNITED AIRLINES UNITED PILOTS' RETIREMENT SYSTEM
Manager, Equity, MARCO CONSULTING GROUP, INC.
Executive Director, CHICAGO POLICEMEN'S ANNUITY & BENEFITS FUND
Trustee, ST. LOUIS EMPLOYEE RETIREMENT SYSTEM
Director, ASIA ECONOMIC INSTITUTE
President, CHICAGO POLICE SERGEANTS ASSOCIATION
Investment Committee, COTTAGE HEALTH CARE
Trustee, DEKALB COUNTY (GA) EMPLOYEE RETIREMENT SYSTEM
Partner, CURRAN FAMILY LIMITED PARTNERSHIP
Investment Officer, CURRAN FAMILY LIMITED PARTNERSHIP
Portfolio Manager, CURRAN FAMILY LIMITED PARTNERSHIP (FAMILY OFFICE)
Director of Research, CLEARBROOK INVESTMENT CONSULTING
Executive Director, MWRD RETIREMENT FUND
Accountant Analyst, MWRD RETIREMENT FUND
Financial Analyst, MWRD RETIREMENT FUND
Trustee, COOK COUNTY EMPLOYEES A&B FUND
Treasurer, TTX CO.
Finance Director, PROVIDENCE EMPLOYEES' RETIREMENT SYSTEM
Manager of Business Diversity, UNIVERSITY OF CHICAGO MEDICAL CENTER
Director of Strategic Research, EMPLOYEES RETIREMENT SYSTEM OF TEXAS
Director of Business Development, ROGERSCASEY
Managing Director-Investment Consulting, ROGERSCASEY
Executive Vice President & Chief Financial Officer, TERRA FOUNDATION FOR THE AMERICAN ARTS
Trustee, POLICEMEN`S ANNUITY & BENEFIT FUND OF CHICAGO
Trustee, COUNTY EMPLOYEES' ANNUITY & BENEFIT FUND OF COOK COUNTY

Sunday, June 7, 2009

9:00a

Exhibit Setup

11:00a

Registration Desk Opens

12:30p

Co-Chair Welcoming Remarks

Assistant Comptroller for Pensions, NEW YORK CITY RETIREMENT SYSTEMS
Principal & Managing Director, CAPITAL PROSPECTS LLC
Chairman, Investment Committee, TEXAS PERMANENT SCHOOL FUND

12:45p

Keynote Speaker:


Henry Cisneros, Executive Chairman, CityView

1:20p

"Today's Market: The 30s, The 70s, The 80s, or Something Different?”

PhD, CEO, Chairman, Portfolio Manager, MASTRAPASQUA ASSET MANAGEMENT

1:40p

“Small Funds’ Edge: Exploiting the Niche”

Managing Director, GRUNWALD FUND LP

2:00p

WHAT OPPORTUNITIES ARE EMERGING MANAGERS UNCOVERING AS A SOLUTION FOR INSTITUTIONAL INVESTORS?

Moderator:
Vice Chairman, City of Ann Arbor Employees Retirement System

Panelists:
Chief Executive Officer, GENERAL EQUITY REAL ESTATE, LLC
President & CIO, PUNCH & ASSOCIATES
CEO, CLAREMONT INVESTMENT PARTNERS
Managing Partner, DFG Investments

3:00p

Refreshment Break

3:15p

Investor Roundtable
Hear Institutional Investors explain their reasoning for investing in Emerging Managers: Where are they allocating and why?

• What is the current state of emerging manager programs
• What are Investors looking for in an Emerging Manager?
• How do institutional investors who have Emerging Managers programs define “Emerging Managers?”
• Are the characteristics of an emerging manager changing?

Panelists:
Trustee, CALPERS
Assistant Comptroller for Pensions, NEW YORK CITY RETIREMENT SYSTEMS
Chair, Investment Committee, OBERLIN COLLEGE

4:00p

Meet the Emerging Managers

This session will consist of Emerging Manager firms with a total of eight minutes each to speak. There will be no power point presentations during this session. The eight firms will one by one have a chance to discuss their background, strategy, methodology and performance of their funds. There will be a session leader carefully watching the eight minute limit. After all eight firms have presented, we will open the floor to questions from the audience.

Moderator:
Trustee, POLICEMEN`S ANNUITY & BENEFIT FUND OF CHICAGO

Panelists:
CFA, STRATEGIC GLOBAL ADVISORS, LLC
Founding Member and CO-Chief Investment Officer, OAKBROOK INVESTMENTS, LLC
Portfolio Manager for WCM Focused Growth International Equity, WCM INVESTMENT MANAGEMENT
Managing Director, HARVEST TECHNOLOGY PARTNERS
Chairman, EMC CAPITAL MANAGEMENT
CEO & CIO, PAVLIK CAPITAL MANAGEMENT
Chief Executive Officer, COZAD ASSET MANAGEMENT
President and Chief Investment Officer, GAME CREEK CAPITAL

5:30p

Investing in emerging managers. What does the research really show?

• Equities
• Private Equity
• Hedge Funds

Moderator:
Finance Director, PROVIDENCE EMPLOYEES' RETIREMENT SYSTEM

Panelists:
Director of Marketing, CORNERSTONE INVESTMENT PARTNERS
Managing Director, PERTRAC FINANCIAL SOLUTIONS
CEO, VERO Capital Management LLC
CEO, Kabouter Management, LLc

6:30

Cocktail Reception

Monday June 8, 2009

7:30a

Continental Breakfast

8:10a

Co-Chair Welcoming Remarks

Assistant Comptroller for Pensions, New York City Retirement Systems
Principal & Managing Director, Capital Prospects LLC
Chairman, Investment Committee, Texas Permanent School Fund

8:20a

“Finding Credit Value in a Volatile Market”

Partner, POINT CLEAR CAPITAL MANAGEMENT

Track 1

Track 2

8:40a

Private Equity Outlook: Do emerging managers have an edge?
In an economy where most investors are focused on large private equity firms, this panel will explain what emerging managers have to offer that these large shops cannot.

• What to look for in an Emerging Private Equity Manager?
• How does an Emerging Private Equity managers
  performance differ from an established manager in the
  event of a capital cycle downturn?
• Where to look for the best talent?
• What is more important as an emerging manager,
  beating indexes or beating the competition?
• What new strategies might an emerging manager
  employ?

Moderator:
Senior Investment Analyst, ENNIS KNUPP & ASSOCIATES

Panelists:
Partner, INDUSTRY CAPITAL
Chief Investment Officer, CYAN PARTNERS, LP
Managing Partner & CEO, ENTREPIA VENTURES

Fixed Income: Why now more than ever?

• A case for an Emerging Fixed Income manager
• What should investors be looking for in an Emerging Fixed
  Income manager and what to avoid

Moderator:
Chairman, Investment Committee, TEXAS PERMANENT SCHOOL FUND

Panelists:
Managing Partner, President, SIMRAN CAPITAL MANAGEMENT LLC
CFA - Managing Director, Portfolio Manager, Utendahl Capital Management, LP.
President and CIO, PUGH CAPITAL MANAGEMENT
TBA, SW ASSET MANAGEMENT

9:45a

Fund of Funds: What impact have they had on emerging hedge funds and can they sustain current performance?

• What do fund of funds look for in an emerging
  hedge fund?
• How does an emerging hedge fund’s performance
  compare to that of a non emerging fund?
• Can fund of funds continue to identify emerging
  managers capable of out-performing across market
  cycles?
• What are realistic return expectations for fund of funds
  that allocates heavily to emerging hedge funds?
• Funds of emerging managers
• Emergence of opportunities in sector specific fund of
  funds
• Active trading as an asset class/ investment strategy

Moderator:
Investment Committee Member, CITY OF RICHMOND RETIREMENT SYSTEM/AGECROFT PARTNERS

Panelists:
Chief Investment Officer, VERITAS PARTNERS
Managing Director, London & Capital
Trustee, Virginia Retirement System

"Simultaneously Running and Doing the Business"
Institutional investors hear “pitches” at least 5-10 times a day. How can you get your firm to stand out? Should you hire a third party marketer or have an internal marketing person? What should you highlight about your team and your fund? What kinds of things should you avoid discussing on a first meeting? What is the best way to ensure a second and then, third meeting

• How to market your fund
• Business challenges that face leaders today

Moderator:
County Controller, ALLEGHENY COUNTY

Panelists:
Managing Director - Public Markets, N.Y.C. COMPTROLLER'S OFFICE
Founder and Managing Partner, SKYBRIDGE CAPITAL, LLC
Managing Director, REVERE CAPITAL ADVISORS
CEO, Capital Z Asset Management, LLC

10:45a

Refreshment Break

11:00a

How are Emerging Managers making their Styles & Strategies Successful in today’s competitive environment?
Which ones are outperforming the rest, and which will work best for the future?

Which ones are outperforming the rest and which will work best for the future

• “Back to Basics”
• Venture Capital
• Hedge Funds
• Domestic Equity – Small/Mid/Large Cap
• Emerging Managers in Emerging markets
• International Investments
• International Equity
• How to best analyze their performance

Moderator:
Trustee, CITY OF SOUTHFIELD

Panelists:
Portfolio Manager, STARK INVESTMENTS
CFA, Managing Director, WAYNE HUMMER ASSET MGMT LLC
Founder, D5 ADVISORS
Managing Member and Co- Founder, HUDSON CAPITAL GROUP, LLC

ASSET ALLOCATION:

Over the past 12 months, most asset classes experienced their worst returns ever. This panel will help your fund determine how much of your portfolio should be allocated to an emerging manager and explore what asset classes will be most popular in the next 12 months.

• Longevity/Mortality as an Asset Class

Moderator:
Investment Committee, COTTAGE HEALTH CARE

Panelists:
Director, CREDIT SUISSE
Director, MBIA ASSET MANAGEMENT
Managing Director, ICAP CAPITAL MARKETS LLC
Chief Operating Officer, Fractal Advisors, LLC

12:00p

Investment Styles and Strategies

• What equity strategies are emerging managers using to
  stay ahead of the curve?
• Why the lack of liquidity and supply/demand imbalance
  in small and mid cap is creating attractive credit
  opportunities?
• Large cap, mid cap, small cap, international: Where are
  the best returns coming from
• Where to find the best value and growth managers and
  what to look for?

Moderator:
Commissioner, LOS ANGELES (CA) FIRE & POLICE PENSION SYSTEM

Panelists:
CIO, BEACON TRUST COMPANY
Managing Principal, VICTORY PARK CAPITAL ADVISORS, LLC
CFA, Managing Member & Portfolio Manager, TETRA CAPITAL MANAGEMENT, LLC
TBA, RBC CAPITAL MARKETS

Economically Targeted & Socially Responsible Investing

• Learn how public plans and other institutional investors
  are adopting economically-targeted investing (ETI)
  strategies
• Evaluating ETI strategies from both financial and
  community impact perspectives
• The screening process
• Economic stimulation: job creation, business creation,
  and improvement of infrastructure

Moderator:
President & CEO, CONSULTIVA INTERNACIONAL, INC.

Panelists:
Director of Economically Targeted Investments, NEW YORK CITY RETIREMENT SYSTEMS
Managing Director, BENCHMARK CAPITAL
Director of Responsible Investing Research, EVALUATION ASSOCIATES LLC
CFA, Senior Vice President, Institutional Marketing & Consultant Relations, COMMUNITY CAPITAL MANAGEMENT

1:00p

AWARDS CEREMONY & LUNCHEON

2:15p

“The Importance of Independent Fund Administration for Emerging Managers, Eliminating One More Red Flag”

• Independent Fund Administrators: Why Emerging
  Managers should hire one
• Governance: How the world will change from an
  oversight standpoint from the regulators’ view as well
  as potential investors
• What to look for in a Fund Administrator: Checklist
• How your marketing efforts can be enhanced with the
  security of an administrator acting as third party
  valuation source

Moderator:
President & CEO, CAPITAL INNOVATIONS, LLC

Panelists:
Managing Director, CORTLAND CAPITAL MARKET SERVICES LLC
Managing Member, INTERNATIONAL FINANCIAL ADMINISTRATION USA
Managing Director, Apex Fund Services

"Investing in Emerging Markets"

This panel will discuss the importance of investing in Emerging Markets, how much of your portfolio should be allocated to the next “Frontier” markets, and what is the outlook over the next 12 months for Emerging Markets.

Moderator:
Vice Chairman-Trustee, PHILADELPHIA BOARD OF PENSIONS

Panelists:
Vice President, Global Equity Index Services, STANDARD AND POOR’S
CEO, NANKING ROAD CAPITAL MANAGEMENT
Partner, EverKey Global Partners

3:15p

Real Estate

Moderator:
Chairman, AUSTIN (TX) POLICE RETIREMENT FUND

Panelists:
Principal, LBG REALTY ADVISORS, LLC
CEO, Davis Capital Group
Co-Founder and Managing Member, LAKRITZ ADLER DEVELOPMENT, LLC
Principal/COO, ALLIANCE COMMERCIAL PARTNERS, LLC

Manager Selection, “What every investor should know”

• Finding managers that consistently outperform through
  different economic cycles
• Quantitative vs. Qualitative

Moderator:
Managing Partner, PROTOCOL CAPITAL MANAGEMENT

Panelists:
President & CEO, ROGERSCASEY
Managing Partner, CRITICAL VALUE ADVISORS
Founder & CEO, Marvic Capital Co.
Head of Risk and Operations, Stockade Asset Management

4:15p

RISK:
This panel will explore the risks involved when investing in an emerging manager.

Moderator:
Executive Director, CHICAGO (IL) PARK EMPLOYEES A&B FUND

Panelists
President, QUALITY MANAGER CONSULTANTS LLC
President, PRISM CAPITAL
Vice President, Northern Trust Global Advisors

Emerging Brokers and their evolving role

• How do Brokers Add Value
• Expertise in Institutional Trading with Creditable Client
  References
• Global Trading Capabilities
• When do you need to hire?
• Membership in a National or Regional Exchange
• Access to New Issue Products
• Investment in Technology
• Market Structure Changes and the Impact on US Equity
  Strategies

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

Panelists:
Director of Trading, TERRA NOVA FINANCIAL LLC
Director of Capital Markets, M. RAMSEY KING SECURITIES, INC
Managing Director, Prime Services, Lighthouse Prime Services

5:00p

Cocktail Reception

Tuesday, June 9, 2009

7:30a

Continental Breakfast

8:15a

Co-Chair Welcoming Remarks

Assistant Comptroller for Pensions, New York City Retirement Systems
Principal & Managing Director, Capital Prospects LLC
Chairman, Investment Committee, Texas Permanent School Fund

8:30a

“Why Small is still Beautiful.” The benefits of “keeping it little.”
Evidence has shown that over time, emerging managers perform as well, if not better, than traditional firms. Are Investors overlooking the best talent in the marketplace? This panel will discuss the benefits of integrating emerging managers into your investment strategy.

• True or False: Small = Innovative Creativity and Big = Bureaucracy? Does this still hold true
• Measuring emerging firms performance in a down market
• Depth of Resources
• Business Risk: What is the Best Way to manage it?
• Screens
• Fund Infrastructure

Moderator:
Senior Managing Director, ATTUCKS ASSET MANAGEMENT

Panelists:
Director, CLONTARF CAPITAL
Partner, CURRAN FAMILY LIMITED PARTNERSHIP (FAMILY OFFICE)
Vice Chairman, CITYVIEW
Managing Director, Prime Services, LIGHTHOUSE PRIME SERVICES
Founder and President, Carrelton Asset Management

9:30p

Consultants Roundtable
What impact will consultant have throughout the next calendar year. and to what extent should investors rely on their advice during this time.

Moderator:
Trustee, CITY OF BIRMINGHAM (AL) EMPLOYEES RETIREMENT AND RELIEF SYSTEM

Panelists:
Managing Director, ROGERSCASEY
Principal, The Townsend Group
Principle, CFA, Mercer Investment Consulting
Associate, Ennis Knupp & Associates, Inc.
Director of Manager Research, Marquette Associates, Inc.

10:30a

Compliance in a Regulatory Environment

• The SEC's New Anti-Fraud Rule
• Hedge Fund Trading Practices
• Side-by-Side Management
• Soft Dollar Arrangements - Conflicts of Interest and Disclosure
• "Hedge Fund Hotels"
• Compliance of a Manager from a Managers viewpoint
• Utilizing compliance resources
• Administering your compliance program

Moderator:
President, OAKLAND MUNICIPAL EMPLOYEES' RETIREMENT SYSTEM

Panelists:
Director Absolute Return Strategies, WITENBERG INVESTMENT COMPANIES, INC.
Partner, LEVENFELD PEARLSTEIN, LLC
Senior Compliance Officer, NORTHERN TRUST GLOBAL INVESTMENTS
Chief Compliance Officer, Credo Capital Management

11:30a

Emerging Managers Wrap-up Discussion

Moderator:
Principal & Managing Director, CAPITAL PROSPECTS LLC

Panelists:
Assistant Comptroller for Pensions, NEW YORK CITY RETIREMENT SYSTEMS
Chairman, Investment Committee, TEXAS PERMANENT SCHOOL FUND