Investment Trends

Summit (platinum series)


September 23-25, 2009
__Four Seasons Resort, The Biltmore, Santa Barbara, CA

PAST CONFERENCE AGENDA (AS OF 9-21-09)______

Senior Analyst, ABU DHABI INVESTMENT CO.
Advisory Manager, AKSIA LLC
Portfolio Mgr in Equities, ARIZONA STATE RETIREMENT SYSTEM
Managing Director, ARLINGTON FAMILY OFFICE
Chief Investment Officer, ARLINGTON FAMILY OFFICE
Director of Traditional Investments, ARNERICH, MASSENA & ASSOCIATES
Director of Business Development, ARNERICH, MASSENA & ASSOCIATES
Director, ASIA ECONOMIC INSTITUTE
Chairman, AUSTIN (TX) POLICE RETIREMENT FUND
President, BACIU FAMILY CAPITAL
Trustee, BALTIMORE (MD) RETIREMENT SYSTEMS
CFO, BAY AREA TOLL AUTHORITY
Deputy Treasurer/Finance, BAY AREA TOLL AUTHORITY
Chairman/Investment Board, BAY CITY (MI) POLICE & FIRE RET. SYSTEM
Trustee, CITY OF BIRMINGHAM (AL) EMPLOYEES RETIREMENT AND RELIEF SYSTEM
Principal, Investment Research, BRISTLECONE ADVISORS (MULTI-FAMILY OFFICE)
President & CEO, CANTERBURY CONSULTING GROUP
Director/Manager of Research, CANTERBURY CONSULTING
Investment Strategist, CHEVRON BENEFIT PLAN INVESTMENTS
Trustee, CITY OF BALTIMORE EMPLOYEES’ RETIREMENT SYSTEM
Member; Board of Directors, CAL POLY POMONA FOUNDATION
Professor of Finance, CAL STATE DOMINGUEZ HILLS
Controller, CENTRAL GEORGIA HEALTH SYSTEM
Chief Investment Officer, UNIVERSITY OF COLORADO FOUNDATION, INC.
Trustee, CHICAGO PARK DISTRICT PENSION FUND
Executive Director, CHICAGO (IL) PARK EMPLOYEES A&B FUND
Vice Chairman, CITY OF ANN ARBOR EMPLOYEES RETIREMENT SYSTEM
Director and Chairman of the Nominating Committee, CLEVELAND STATE UNIVERSITY FOUNDATION BOARD
Investment Committee, COTTAGE HEALTH CARE
Trustee, CITY OF DALLAS EMPLOYEES' RETIREMENT FUND
Trustee, DEKALB COUNTY (GA) EMPLOYEE RETIREMENT SYSTEM
General Counsel/Deputy Attorney, DELAWARE PUBLIC EMPLOYEES’ RETIREMENT SYSTEM
Chief Investment Officer, ELIZABETHTOWN COLLEGE
Director, FIDUCIARYVEST, LLC
Pension Administrator, FORT LAUDERDALE (FL) GENERAL EMPLOYEES RETIREMENT SYSTEM
Executive Director, HEALTH SERVICES RETIREMENT PLAN
President, HEIDT CAPITAL GROUP, LLC (FAMILY OFFICE)
President, HIGHLAND CAPITAL MANAGEMENT (MULTI-FAMILY OFFICE)
Executive Director, HOLYOKE CONTRIBUTORY RETIREMENT
Trustee, HOUSTON FIREMEN'S RELIEF AND RETIREMENT FUND
Trustee, HOUSTON FIREMEN'S RELIEF AND RETIREMENT FUND
Trustee, HOUSTON FIREFIGHTERS RELIEF & RETIREMENT FUND
Chief Investment Officer, THE KOFFLER GROUP (FAMILY OFFICE)
Member of the Finance and Assets Committee, LAKE ERIE COLLEGE
Trustee, PUBLIC EMPLOYEES RETIREMENT SYSTEM OF IDAHO
Fund Administrator, IRON WORKERS LOCAL #1 BENEFIT FUNDS
President, IRVINE HEALTH FOUNDATION
Trustee, JACKSONVILLE (FL) POLICE & FIRE PENSION FUND
Director of Financial Administration, KENT STATE UNIVERSITY FOUNDATION
Trustee, LINCOLN FIREMEN'S & POLICEMEN'S RETIREMENT SYSTEM

Trustee, LINCOLN POLICE AND FIRE PENSION FUND
Chief Investment Strategist, LORING WARD CAPITAL MANAGEMENT (MULTI-FAMILY OFFICE)
Commissioner, LOS ANGELES (CA) FIRE & POLICE PENSION SYSTEM
Commissioner, LOS ANGELES CITY EMPLOYEES' RETIREMENT SYSTEM
Principal & Investment Consultant, MERCER INVESTMENT CONSULTING
Head of Manager Research, MERCER INVESTMENT CONSULTING
President, OAKLAND MUNICIPAL EMPLOYEES' RETIREMENT SYSTEM
Chairman, Board of Directors, ORAL & MAXILLOFACIAL SURGERY FOUNDATION
Trustee, ORANGE COUNTY RETIREMENT SYSTEM
Trustee, ORANGE COUNTY RETIREMENT SYSTEM
Chief Investment Officer, OSBORNE SIEGEL PRIVATE FAMILY OFFICE
Head of Alternative Investments, OSBORNE SIEGEL PRIVATE FAMILY OFFICE
Managing Director / Family Liaison, OSBORNE SIEGEL PRIVATE FAMILY OFFICE
Trustee, PUBLIC EMPLOYEES' RETIREMENT ASSOCIATION OF NEW MEXICO
Principal, PENSION CONSULTING ALLIANCE, INC.
State Treasurer, STATE OF PENNSYLVANIA
Senior Vice President & Chief Investment Officer, PEPPERDINE UNIVERSITY
Acting Supervisor of Elections, Vice Chairman-Trustee, PHILADELPHIA BOARD OF PENSIONS
President, PPCA INC.
President, PRIDECO CAPITAL MANAGEMENT (MULTI-FAMILY OFFICE)
Executive Director, RIO HONDO COLLEGE FOUNDATION
Managing Director, Chief Research Strategist, ROGERSCASEY
Investment Officer, CITY OF SACRAMENTO
Trustee, SAN ANTONIO FIREMEN'S & POLICEMEN'S FUND
Director of Finance and Administration, SANTA BARBARA MUSEUM OF NATURAL HISTORY
CEO, SANTA BARBARA COUNTY EMPLOYEES' RETIREMENT SYSTEM
Secretary, SANTA BARBARA COUNTY EMPLOYEES' RETIREMENT SYSTEM
Trustee, SANTA BARBARA COUNTY EMPLOYEES' RETIREMENT SYSTEM
Trustee, SANTA BARBARA COUNTY EMPLOYEES' RETIREMENT SYSTEM
Chairman, SANTA BARBARA COUNTY EMPLOYEES' RETIREMENT SYSTEM
Senior Vice President & Chief Financial Officer, SOUTH TEXAS COLLEGE OF LAW
Trustee, ST. LOUIS EMPLOYEE RETIREMENT SYSTEM
Deputy Comptroller, CITY OF ST. LOUIS
Vice Chairperson, TEACHERS' RETIREMENT ALLOWANCES FUND
Chairman, Investment Committee, TEXAS PERMANENT SCHOOL FUND
Assistant Director of Equities, TEXAS MUNICIPAL RETIREMENT SYSTEM
Investment Coordinator, UCLA FOUNDATION
Trustee, VENTURA COUNTY EMPLOYEES' RETIREMENT ASSOC.
Fiscal Manager, VENTURA COUNTY EMPLOYEES' RETIREMENT ASSOC.
Administrator/Staff, VENTURA COUNTY EMPLOYEES' RETIREMENT ASSOC.
Board Chair, VENTURA COUNTY EMPLOYEES' RETIREMENT ASSOC.
Trustee, WAYNE COUNTY EMPLOYEES RETIREMENT SYSTEM
Managing Director, WHITE BIRCH ASSOCIATES LLC (FAMILY OFFICE)
Managing Director and Senior Consultant, WILSHIRE ASSOCIATES
Managing Director, WILSHIRE ASSOCIATES
Senior Consultant, WURTS & ASSOCIATES

Wednesday, September 23, 2009

7:30a

GOLF TOURNAMENT

10:00a

Exhibit Setup & Registration Opens

1:30p

Co-Chair Welcoming Remarks

1:40p

“CREATING INSURANCE TO PROTECT AGAINST MARKET LOSSES”

• How to create asset class exposure to World Equity Markets that reduce downside volatility and can provide upside leverage

Speakers:
President, MORTON CAPITAL MANAGEMENT
Director, DEUTSCHE BANK STRUCTURED INVESTMENTS

2:00p

WHAT ARE THE CHALLENGES FACING INSTITUTIONAL INVESTORS/PLANNED SPONSORS IN CURRENT AND FUTURE MARKET ENVIRONMENTS

• Managing pension plans
• Back to basics?
• Building in-house resources or outsourcing for hedge fund investment
• How are governments funding their liabilities: reduction in benefits, bond funded trusts or other capital contributions?
• Inflation versus deflation
• Can smaller funds use the strategies of larger funds?
• Geographically & Economically Targeted Investments
• What degree of flexibility should the investment staff be given in the investment policy?
• What are the most effective methods of educating your board in order to capitalize on using the latest investment
• tools and strategies?

Moderator:
Managing Director and Senior Consultant, WILSHIRE ASSOCIATES 

Panelists:
Chief Investment Officer, UNIVERSITY OF COLORADO FOUNDATION, INC.
Senior Vice President & Chief Financial Officer, SOUTH TEXAS COLLEGE OF LAW
Portfolio Mgr in Equities, ARIZONA STATE RETIREMENT SYSTEM
Trustee, ORANGE COUNTY RETIREMENT SYSTEMS

3:00p

IDENTIFYING PROMISING INVESTMENT OPPORTUNITIES FOR INSTITUTIONAL INVESTORS ARISING FROM THE CURRENT CONDITION OF THE GLOBAL CREDIT MARKET
• Opportunity funds
• Distressed-debt funds
• How to make money in this environment
• Oil & Gas
• Inflation protection
• Keeping a steady cash flow

Moderator:
President & CEO, CANTERBURY CONSULTING GROUP

Panelists:
Independent Director, TORTOISE CAPITAL ADVISORS
Director of Operations, SUNRISE CAPITAL PARTNERS LLC
CEO, VERO CAPITAL
Managing Director, ORE HILLS PARTNER

4:00p

REFRESHMENT BREAK

4:15p

DEVELOPMENTS IN THE FIXED INCOME SECTOR

• Past, Present, Future
• Allocation trends to fixed income

Moderator:
Trustee, CITY OF BALTIMORE EMPLOYEES’ RETIREMENT SYSTEM

Panelist:
Principal, Chief Investment Officer, STW FIXED INCOME MANAGEMENT
Senior Managing Director, GOTTEX SJC
Chief Executive Officer, MJX ASSET MANAGEMENT 

5:15p

REAL ASSETS: THE ROLE OF COMMODITIES IN INVESTMENT PORTFOLIOS

• Investing in Energy
• Precious Metals
• Managed Futures

Moderator:
Executive Director, HOLYOKE CONTRIBUTORY RETIREMENT

Panelists:
CFA, THE MILLBURN RIDGEFIELD CORPORATION
Investment Director – Commodities, OFI INSTITUTIONAL ASSET MANAGEMENT
CFA, RS INVESTMENTS

6:00p

Cocktail Reception

Sponsored by:
MORTON CAPITAL MANAGEMENT

Thursday, September 24, 2009

8:00a

Breakfast Buffet

8:00a

Private Closed Door Breakfast
For Institutional Investors, Planned Sponsors & Consultants Only

Moderator:
Trustee, JACKSONVILLE (FL) POLICE & FIRE PENSION FUND
Trustee, DEKALB COUNTY (GA) EMPLOYEE RETIREMENT SYSTEM

9:00a

Co-Chair Welcoming Remarks

9:20a

YOUR PORTFOLIO’S LARGEST EXPENSE: ARE YOU IGNORING THE OBVIOUS?

• Learn about the real impact of brokerage related costs
• How To/How Not To select the right providers
• Fiduciary Best Practices for management of your fund’s brokerage costs

Speaker:
Managing Director, GTS ADVISORS

9:40a

VALUE-ADDED RETURNS FROM FARMLAND

• Farmland returns vs. other asset classes
• Adding value to farmland
• Costs and benefits for converting to organic farmland
• Selection criteria for acquiring farmland and investing in funds
• Risks and benefits from climate change, carbon capture, energy issues, and economic woes
• Farmland as a Socially Responsible Investment

Speaker:
Managing Partner, FARMLAND LP

10:00a

MANAGER SELECTION-WHAT EVERY INSTITUTIONAL INVESTOR SHOULD KNOW

• What is the best way to identify prospective managers?
• What manager evaluation criteria and process work best?
• What are the key risk factors in manager selection?
• What role do consultants play in the manager selection process?

Moderator:
Director of Traditional Investments, ARNERICH, MASSENA & ASSOCIATES

Panelists:
State Treasurer, STATE OF PENNSYLVANIA
Head of Manager Research, MERCER INVESTMENT CONSULTING
Director, DUFF & PHELPS, LLC

11:00a

Refreshement Break

11:15a

CAPITALIZING ON GLOBAL ECONOMIC TRENDS WITH HEDGE FUNDS/FUND OF FUNDS

• How to adapt to the economic, regulatory and investor conditions
• What’s the optimal role in a portfolio?
• Direct hedge fund investing versus direct traditional manager investing
• Fund of funds vs. multi-strategy
• Performance measurement of hedge funds
• ETFs
• Global market trends
• Do international fund of funds offer an advantage?

Moderator:
Senior Consultant, Wurts & Associates

Panelists:
President & Partner, COGO WOLF ASSET MANAGEMENT
Director, ROCK MAPLE FUNDS
Chief Risk Officer, EIM MANAGEMENT

12:15p

INTEGRATING EMERGING MARKETS INTO INSTITUTIONAL PORTFOLIOS

• Emerging markets opportunities
• Can emerging markets outpace developed markets
• The BRIC economies
• How are there funds performing?
• Which emerging markets are providing the greatest returns?
• Distressed debt opportunities in emerging markets
• How to choose an emerging markets fund manager

Moderator:
Principal, PENSION CONSULTING ALLIANCE, INC.

Panelists:
Partner and Chief Investment Offiver of Asia, MARATHON ASSET MANAGEMENT
Principal Managing Director, Asian Investments, CAPRICORN INVESTMENT GROUP, LLC

1:00p

Luncheon

2:15p

REAL ESTATE

• Where we are now and where are we going?
• US Funds vs. Non-US funds
• Who is investing in Real Estate now?
• How to select a Manager
• Market Trends
• Opportunities to invest in REITS. Where are they today-tomorrow?

Moderator:
Chairman, AUSTIN (TX) POLICE RETIREMENT FUND

Panelists:
Real Estate Investment Manager, GE ASSET MANAGEMENT
Managing Director, Investment & Finance, PREMIER PACIFIC VINEYARDS
Vice President, Investment Affairs and Investor Education, NATIONAL ASSOCIATION OF REAL ESTATE INVESTMENT TRUSTS (NAREIT)

3:15p

EQUITY STYLES & STRATEGIES

• Where do Alternative Investments Fit in the Equity Picture
• Defining a Strategy and Constructing a Portfolio for Optimal Returns
• Quantitative vs. Qualitative

Moderator:
President, OAKLAND MUNICIPAL EMPLOYEES' RETIREMENT SYSTEM

Panelists:
Founder and President, ICON ADVISERS, INC.
President, PPCA INC.
North American Equity Strategist, Executive Director, UBS GLOBAL ASSET MANAGEMENT

4:00p

PRACTICAL ANALYSIS OF STRATEGIC ASSET ALLOCATION AND TACTICAL ASSET ALLOCATION STRATEGIES

• What asset classes will be popular in the upcoming months
• What are some new asset classes
• Incorporating alternatives within traditional
• Minimizing volatility and risk by integrating Structured Products/Notes

Moderator:
Chief Investment Officer, THE KOFFLER GROUP (FAMILY OFFICE)

Panelists:
Managing Director, Chief Research Strategist, ROGERSCASEY
President, MORTON CAPITAL MANAGEMENT
Partner, BAYSWATER ASSET MANAGEMENT
Controller, ALLEGHENY COUNTY

5:00p

PORTFOLIO CONSTRUCTION & RISK MANAGEMENT

• Using technology to address and solve Investor concerns
• Focusing on both individual fund investments and aggregate (entire portfolio) risk analyses
• How “alternative” investment strategies integrate with traditional holdings, and the tools to integrate them

Moderator:
Principal & Investment Consultant, MERCER INVESTMENT CONSULTING

Panelists:
Chief Technology Officer, HEDGEMARK
Investment Committee Member, SANTA CLARA UNIVERSITY
Managing Director, CONNECTICUT INVESTMENTS LLC (FAMILY OFFICE)

5:45p

COCKTAIL RECEPTION
& Wine Tasting
Sponsored By:
PREMIER PACIFIC VINEYARDS

Friday, September 25 2009

8:00a

Breakfast Buffet

8:45a

REGULATORY TRENDS AND DEVELOPMENTS

• Are your current investments in compliance with your plan documents and investment policy statement?
• What questions should be asked besides, “Where do I sign?”
• Has your fund engaged a fiduciary to monitor compliance?
• When is it appropriate to seek legal vs. investment advice?
• Your plan has found an asset class or particular investment that the Board thinks would be appropriate for your
portfolio, what next?
• The role of the consultant

Moderator:
Acting Supervisor of Elections, Vice Chairman-Trustee, PHILADELPHIA BOARD OF PENSIONS

Panelists:
Fund Administrator, IRON WORKERS LOCAL #1 BENEFIT FUNDS
Partner, HANSON BRIDGETT LLP

9:30a

PRIVATE EQUITY OUTLOOK

• What Private Equity Strategies are producing the best returns?

Moderator:
Managing Director, Wilshire Associates

Panelists:
Trustee, Orange County Retirement System
Partner, Head of Real Assets, ALTIUS ASSOCIATES

10:15a

SUSTAINABLE RETURNS: RESPONSIBLE INVESTING AS A DRIVER OF LONG TERM VALUE FOR INSTITUTIONAL INVESTORS

• Trends and Implications
• International Perspective
• SRI and Pensions

Moderator:
Trustee, SAN ANTONIO FIREMEN'S & POLICEMEN'S FUND

Panelists:
Principal, Investment Research, BRISTLECONE ADVISORS (MULTI-FAMILY OFFICE)
First Vice President, THE ARMSTRONG GROUP OF MERRILL LYNCH
CFA, Portfolio Manager, SANTA BARBARA ASSET MANAGEMENT

11:00a

Investor WRAP UP
THE PENSION LANDSCAPE

• Defined Benefit / Defined Contribution
• Public Opinion

Moderator:
Chairman/Investment Commitee, TEXAS PERMANENT SCHOOL FUND

Panelists:
Chairman/Investment Board, Bay City (MI) Police & Fire Ret. System
Executive Director, Chicago (IL) Park Employees A&B Fund
Trustee, Wayne County Employees Retirement System

12:00p

CLOSING REMARKS/CONFERENCE CONCLUDES