Opal Financial Group - Investment Education Symposium 2009 Agenda

Institutional Investors'

Congress

11-12 May 2009
Silken Gran Havana Hotel , Barcelona, Spain

_PAST CONFERENCE AGENDA (as of 5-08-09)


	2009 Participants Include:
	Chief Executive, ALLENBRIDGEEPIC INVESTMENT ADVISERS Trustee, VIRGINIA RETIREMENT SYSTEM Executive Director, CHICAGO (IL) PARK EMPLOYEES A&B FUND Head of Sustainability, APG INVESTMENTS Chief Executive Officer and President, ASSET4 Managing Director, CITY CAPITAL Director of Finance & Administration, CORAM FAMILY FOUNDATION Principal, DALRYMPLE FINANCE European Partner, MERCER HUMAN RESOURCES CONSULTING Director, DAWNAY DAY QUANTUM LIMITED Executive Director, EIRIS Principal, EMERGING MARKET STRATEGIES COMPANY Chairman, EUROPEAN PARLIAMENT PENSION FUND Managing Director, FERI INSTITUTIONAL ADVISORS GMBH Managing Director, GOTTEX FUND MANAGEMENT Managing Partner, HEDGES CAPITAL, INC. Director of Asia/Pacific and European Corporate Engagement, HERMES INVESTMENT MANAGEMENT LIMITED Investment Director, IBM PENSIONKASSE AG INTERNATIONAL PENSIONS ADVISOR Partner, KROM RIVER TRADING AG Executive Vice President of Global Equities, KUWAIT INVESTMENT OFFICE Vice President for Finance and Treasurer, LOYOLA UNIVERSITY OF MARYLAND Senior Investment Manager, VBV GROUP Director, WILSHIRE PRIVATE MARKETS GROUP Trustee Director, SAUL TRUSTEE COMPANY Managing Director, ABSOLUTE RETURN CONSULTING GMBH Managing Director, PENSION FUND OF EARLY CHILDHOOD TEACHERS (PBU) (DENMARK) Chief Investment Officer, ASSET ADVISORS Senior Consultant, WATSON WYATT Head of Asset Management, BONUS PENSIONSKASSEN Professor Investment Banking Emerging Markets, RIGA GRADUATE SCHOOL OF LAW Executive Director, UNITED NATIONS PRINCIPLES FOR RESPONSIBLE INVESTMENT Chairman, CAMCO INTERNATIONAL Managing Partner & President, SIMRAN CAPITAL MANAGEMENT LLC Investment Principal, AON CONSULTING LTD. Global Director of Consulting, MERCER INVESTMENT CONSULTING Executive Vice-President, AFA INSURANCE Gen. Inspector of Social Security, MINISTERE DE LA SECURITE SOCIALE Professor of Finance, IMDEA & IE BUSINESS SCHOOL Non Executive Director, ANTARES, GRUPO TELEFONICA Adjunct Directeur Institutional Clients, CORDARES General Manager, GESTEFIN S.A. Analysis Director, GESTEFIN S.A. Consultant, BFINANCE UK LIMITED Consultant, CLONTARF CAPITAL CAPITAL PARTNERS LLC Vice President Sustainable Investments, KBC ASSET MANAGEMENT IRELAND	Senior Manager, KPMG LLP Director, CLONTARF CAPITAL Chairman of the Board, MARS PENSION FUND INDEPENDENT ADVISOR Chief Executive Officer, ALPHA GLOBAL ADVISORY Investment Funds Director and President, L CAPITAL – LOUIS VUITTON-MOET HENNESSY Director, SDB PENSION FUND PRIVATE INVESTOR Co Head of Responsible Investment, UNIVERSITIES SUPERANNUATION SCHEME Senior Associate, MERCER INVESTMENT CONSULTING CIO, DIP (THE DANISH PENSION FUND FOR ENGINEERS) Chief Executive Officer, JAUFFRET CONSULTIVA Head of Environmental Finance, TRUCOST Head of Fund Advisory, IXIS CIB Head of Corporate Development, TORTOISE CAPITAL ADVISORS Managing Partner & President, SIMRAN CAPITAL MANAGEMENT LLC Director, Finance & Investments, THE CANADIAN MEDICAL PROTECTIVE ASSOCIATION Consultant, CLONTARF CAPITAL Senior Advisor, KIEGAR AG Investment Director, CAJA INGENIEROS GESTION, SGIIC, SAU Managing Director/Partner, CAPITAL INVESTORS INTERNATIONAL (Foundation) Alternative Investment Manager, ACTIVE-ADVISORS SA Senior Analyst, ACTIVE-ADVISORS SA Senior Manager and Head of Asset Allocation and Quantitative, WORLD BANK Managing Partner, IFA CONSULTING SRL Managing Director, FERGUSON PARTNERS FAMILY OFFICE Consultant, INVENSURE A/S CEO, TRESSIS, S.V. Partner, ATRIUM INVESTIMENTOS SFC, SA Head of Markets, EURONEXT (Lisbon) Chief Investment Officer, ASSET ADVISORS Partner, CIO, ECLECTICA ASSET MANAGEMENT Chief Investment Officer, INARCASSA Chief Executive Officer, GOLD TRUST AG Founding Partner, EURO FAMILY OFFICE S.L. Treasurer, NEW YORK CITY BENEVOLENT ASSOCIATION Planning Services Director, BAA PENSION FUND Financial Markets Strategist, PSA PEUGEOT CITROEN Founding Partner, EURO FAMILY OFFICE S.L. Executive Board President, RAIFFEISEN MANDATORY PENSION FUND Financial Analyst, ALENA S.A. PRIVATE INVESTOR (Monaco) Head of European Marketing, HERMES INVESTMENT MANAGEMENT LIMITED Member of the Pension Board, SWISS STEEL AG PENSION FUND President, DIVERSIFIED GLOBAL ASSET MANAGEMENT Managing Director, DIVERSIFIED GLOBAL ASSET MANAGEMENT Managing Director, PRONOVA (Vorsorge) AG


Monday 11 May 2009:
	All Sessions Are Panel Discussions - Power Point Presentations Are Prohibited

13:15	Co-Chair Welcoming Remarks Chairman, EUROPEAN PARLIAMENT PENSION FUND

13:30	What Is the Future of the Institutional Investment Industry? • What Is the Future of the Institutional Industry in a World Without the Outsize Profits and Outsize Risk of • Investment Banks? • Who Will Step in to Take Their Place? • Is Credit the New Equity Opportunity? How Can This be Reconciled with the Increasing Allocation that Pension • Funds Have Made to Fixed Income?• What Is the Future for Hedge Funds Which Have Historically Carried a Lot of Risk? • Will Boutique Firms Be Better or Worse Equipped to Adjust to the New Environment? • Which is More Stable Now: The New Investment/Commercial Hybrids or Lots of Diversification and Small Players? • Will Pension Funds as Buyers Be More Prudent or More Aggressive? It Seems That Some Dynamically Managed • Pension Funds Are Increasing Their Strategic Allocation to Equities. • Will Pension Funds Increase or Decrease Their Allocation to Alternative Investments, More Particularly to Hedge • Funds and Private Equity? Moderator: Chief Executive, ALLENBRIDGEEPIC INVESTMENT ADVISERS Panelists: Principal, DALRYMPLE FINANCE Vice President Institutional Bank Loan Relationships, EATON VANCE MANAGEMENT Managing Director, DIVERSIFIED GLOBAL ASSET MANAGEMENT Chief Executive Officer, JAUFFRET CONSULTIVA

14:30	Are Renewable Energy, Climate Change and Clean Tech Companies a New Asset Class? Moderator: Co Head of Responsible Investment, UNIVERSITIES SUPERANNUATION SCHEME Panelists: Chief Executive Officer, ALPHA GLOBAL ADVISORY Vice President Sustainable Investments, KBC ASSET MANAGEMENT IRELAND Head of Environmental Finance, TRUCOST Chairman, CAMCO INTERNATIONAL	`

15:30	Fixed Income: Is It the Answer in an Uncertain Environment? • Should You Raise The Proportion of Your Funds in Bonds? • The Better the Rating the Lower the Real Return. Discuss. • What Proportion of Junk Can a Fund Risk? • Are Junk Default Rates Exaggerated? • Is Distressed Debt a Worthwhile Option? Moderator: Chairman, EUROPEAN PARLIAMENT PENSION FUND Panelists: Senior Investment Manager, VBV GROUP Managing Partner & President, SIMRAN CAPITAL MANAGEMENT LLC Investment Principal, AON CONSULTING LTD. Chief Investment Officer, AMAS BANK

16:30	REFRESHMENT BREAK

16:45	Do Global Market Events of the Last Year Present Institutional Investors with Greater Challenges or Greater Opportunities? • The Need for Income in a Low Return Environment • The Rise of Global Inflation • The Rise of Protectionism • Will the European Union’s Euro Survive or Will Some Members Leave? • Can Alternative Assets Continue to Generate Alpha to Justify their High Costs? • What has become of the Commodity Super Cycle? • How Are Institutional Investors Adressing Deferred Contribution Challenges? Moderator: INTERNATIONAL PENSIONS ADVISOR Panelists: WILSHIRE PRIVATE MARKETS GROUP European Partner, MERCER HUMAN RESOURCES CONSULTING Managing Director, FERGUSON PARTNERS FAMILY OFFICE Senior Vice President, Business Development, COVENTRY LIFE SETTLEMENTS

17:45	Has Capitalism Has Failed? Live Debate Oxbridge Rules. No Sacred Cows Protected. Debate Chairman: Director, DAWNAY DAY QUANTUM LIMITED Panelists: PRIVATE INVESTOR Consultant, CLONTARF CAPITAL Planning Services Director, BAA PENSION FUND Consultant, ALPHA INVESTMENT MANAGEMENT ( Monaco ) Trustee, VIRGINIA RETIREMENT SYSTEM

18:30	Sessions Conclude

18:30	Cocktail Gala

Tuesday 12 May 2009:
8:30	Continental Breakfast

8:30	Institutional Investor Roundtable Discussion- INVESTORS AND CONSULTANTS ONLY Discussion Topic: What Impact Has the Current Global Markets Crisis Had on Your Investment Strategy and What Steps Are You Taking to Adjust? This session is exclusively for end investors. Participants will be divided into small groups, each with a discussion leader. All groups will hold a roundtable discussion on the above topic. Discussion Group Leaders: Chairman, EUROPEAN PARLIAMENT PENSION FUND Senior Consultant, WATSON WYATT

9:30	Opening Remarks Trustee, VIRGINIA RETIREMENT SYSTEM

	All Sessions Are Panel Discussions - Power Point Presentations Are Prohibited

9:40	Meet the Managers There will be no Power Point presentations during this session. The 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 time limit. After all managers have spoken, we will open the floor to questions from the audience. Moderator: Chairman, EUROPEAN PARLIAMENT PENSION FUND Panelists: Head of Corporate Development, TORTOISE CAPITAL ADVISORS Head of Credit Fund Management, INTERMEDIATE CAPITAL GROUP PLC Partner, TRESSIS, S.V. Partner, ATRIUM INVESTIMENTOS SFC, SA CEO & Managing Partner, ASK INVESTMENT MANAGERS PRIVATE LIMITED President, DIVERSIFIED GLOBAL ASSET MANAGEMENT Managing Director, MADRID INTERNATIONAL FINANCIAL CENTRE

11:00	Equities Markets: How Much of Current Market Volatility Can Be Attributed to Investor Behavior and How Much to Actual Fundamentals? Moderator: Director, SAUL TRUSTEE COMPANY Panelists: Director of Finance & Administration, CORAM FAMILY FOUNDATION Head of Markets, NYSE EURONEXT Consultant, CLONTARF CAPITAL

11:45	Refreshment Break

12:00	Effectively Using Global Tactical Asset Allocation Strategies for Institutional Investors • Is Mean Variance Optimization no Longer Trusted for Asset Allocation? • Is There More Reliance on Prevailing Market Valuations? Moderator: Senior Manager, KPMG LLP Panelists: Managing Director, FERI INSTITUTIONAL ADVISORS GMBH CIO, ALADDIN CAPITAL Project Manager, Hedge Fund Centre, LONDON BUSINESS SCHOOL Managing Director, GTAA and Multi-Strategy, MILLENNIUM GLOBAL INVESTMENTS

13:00	Sustainable Returns: Responsible Investing as a Driver of Long Term Value for Institutional Investors Moderator: Executive Director, UNITED NATIONS PRINCIPLES FOR RESPONSIBLE INVESTMENT Panelists: Chief Executive Officer and President, ASSET4 Executive Director, EIRIS Commercial Director, HERMES INVESTMENT MANAGEMENT LIMITED

13:45	Luncheon

15:00	Long Term Opportunities in Emerging Markets • Is there a case for relative decoupling of emerging markets in the current turmoil? • Are China and India the only emerging markets that matter in the current context extended periods of time? Latin America? East/central Europe? Africa? • Is the western buy-out, controlling interests, model appropriate? (PIPEs, minority positions, growth capital?) • Do fund structures and terms need to change to reflect the market conditions? Moderator: Managing Director, CITY CAPITAL Panelists: Principal, EMERGING MARKET STRATEGIES COMPANY Managing Partner, HEDGES CAPITAL, INC. Professor Investment Banking Emerging Markets, RIGA GRADUATE SCHOOL OF LAW Trustee, LEHMAN COLLEGE FOUNDATION

16:00	The Evolution of the Fund of Hedge Funds Industry as Institutional Investors Demand Fee Structures Reflective to Value Added Moderator: Non Executive Director, BLACKROCK ABSOLUTE STRATEGIES FUND and ANTARES, GRUPO TELEFONICA Panelists: Managing Director, ABSOLUTE RETURN CONSULTING GMBH Managing Director, Institutional Sales, GOTTEX FUND MANAGEMENT Vice President Institutional Sales, ERMITAGE GROUP

17:00	Liability Driven Investing Strategies in the Spotlight: Are These Strategies Meeting the Expectations of Institutional Investors? Moderator: Senior Manager and Head of Asset Allocation and Quantitative, WORLD BANK Panelists: Adjunct Directeur Institutional Clients, CORDARES Director, SDB PENSION FUND

17:45	Conference Concludes

18:00	Cocktail Gala