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| Alternative Investing Summit |
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| December 4-6, 2011 |
| The Ritz-Carlton, Laguna Niguel, Dana Point CA |
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| 9:00 am |
Exhibit Setup |
| 11:00 am |
Registration |
| 11:30 am |
Pre Conference Workshop (Box Lunch will be served)
"Gold: a unique asset"
Alternative asset allocations have become more common among institutional investors as a means by which portfolio diversification can be enhanced. Examples include hedge funds, private equity, real estate, commodities and, in some cases, gold. However, allocations to gold within a portfolio remain extremely low especially among institutional investors: less than 0.3% of all assets by some estimates. For investors seeking to achieve true diversification, an outright position in gold provides benefits that complement other alternative investments and it cannot be replicated by simply investing in a broad basket of commodities. Research shows that a modest, consistent holding of gold increases long-term risk-adjusted returns complementing more traditional alternative investments and an outright investment in gold reduces risk without diminishing long-term returns. During this presentation, we will discuss gold's role for diversification, risk management and capital preservation as well as the outlook and global perspective on the gold market.
Speaker:
Investment Research Manager, World Gold Council |
| 12:30 pm |
Co-Chair Welcoming Remarks
Managing Member, Agecroft Partners |
| 12:40 pm |
Liquidity & Risk Management Tools within Alternative Portfolios
Speaker:
Director, Societe Generale |
| 1:00 pm |
Speed Bumps, Black Swans and Things that go Bump in the Night - Option Strategies for Risk Management
The presentation will highlight studies by the University of Massachusetts, "Loosening Your Collar: Alternative Implementations of QQQ Collars" by Ed Szado and Thomas Schneeweis and "15 years of RUT buy-write" by Ed Szado and Nikunj Kapadia.
The collar study covers an eleven year period where the authors found that a long protective collar strategy using 6-month put purchases and consecutive 1-month call writes earned almost 185% while QQQ experienced a lost decade – losing 3%. These returns came while reducing risk by almost 65%. The UMass study, "15 Years of Russell 2000 Buy-Write" concludes that a passive buy-write strategy of one month to expiration calls on the Russell 2000 ETF consistently outperformed the index, returning 263% while the return on the RUT was 226%. Over the entire period the risk for the buy-write portfolio was almost 4 ½ percentage points lower than for the RUT portfolio.
Managing Director, Options Industry Council |
| 1:20 pm |
Investing in Credit & Securitization Markets
- Major trends in the credit markets for 2012
- Exploiting inefficiencies in the credit markets
- Benefits of investing in structured products
- How to take advantage of Global credit markets
- Opportunities in the Loan Market
- Discussion of the Maturity Wall
- Profile of Loan Investors
- Quality of New Issue Deal Flow
- State of the CLO Market
Moderator:
Trustee, San Jose Police & Fire Department Retirement Plan
Panelists:
Director of Research, DDJ CAPITAL MANAGEMENT
Managing Director, Capital Markets Group, Anchor Loans, LLC
Co-Founder and Partner, varadero capital L.P. |
| 2:15 pm |
Demystifying Managed Futures - why many institutional investors are taking a serious look at managed futures
- What are managed futures?
- How can managed futures add non-correlated diversification to a portfolio?
- How can managed futures increase the returns or lower the risks in institutional portfolios?
- What are the benefits for institutional investors of allocating to managed futures?
- How are managed futures different from and similar to hedge funds?
- What are some of the various investment strategies in managed futures?
Moderator:
Former Director of Pension Investments Worldwide, Eastman Kodak
Panelists:
CEO, Efficient Capital Management
CEO, Welton Investment Corporation
Deputy Portfolio Manager, Conquest Capital
Commodity Analyst, Galtere Ltd. |
| 3:15 pm |
Refreshment Break
Sponsored by:
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| 3:30 pm |
Alternative Investment Styles and Strategies: Key Investment Opportunities in 2012
- Which sectors and strategies will generate the best returns?
- Which asset classes consistently outperform others
- Which asset classes are being overlooked
- Choosing hedge funds that best complement your portfolio
- Promising sectors to consider
- Alternative styles and strategies, how they have evolved and where are they headed
- How to outperform peers with risk management
- Are some alternative strategies beginning to look a bit too traditional and what are the implications
- What was once old is new again, does this hold true for some Alternative Styles and Strategies
Moderator:
Dean's Executive Professor of Finance, Executive Director, SIFIRM, SANTA CLARA UNIVERSITY
Panelists:
Director of Research, Steelpath Advisors
President and CEO, MONROE CAPITAL
Managing Director, Banes Capital Management, LLC |
| 4:30 pm |
Hedge Fund Opportunities:
- Hedge fund trends: What's Hot, What's Not?
- What additional regulatory and legal changes are expected to take place in the near future?
- What is the industry's perspective on these expected changes and is the industry prepared for the new regulations to take effect?
- What is the Washington-based representation doing on behalf of hedge fund investors?
- Which hedge fund strategies were most successful in 2011
- Which strategies look promising for 2012
- How have hedge funds changed their strategies since the meltdown?
- What makes fund of hedge funds so appealing?
- Can investors find the same security that they expect from brand name asset managers in smaller hedge fund operations?
- Best opportunities for growth
Moderator:
Managing Member, Agecroft Partners
Panelists:
Managing Principal and CIO, Axonic Capital LLC
President, Performance Trust Investment Advisors, LLC
Vice President, Wilshire Funds Management |
| 5:30 pm |
Alternatives Roundtable: The State of Alternative Investing in the Current Economic and Regulatory Climate
The panel will delve in to the differences and similarities in the investors' objectives, concerns and challenges in tapping the sector and discuss what role alternative investments have in an institutional investor's portfolio? Panelists will discuss economic, political and regulatory issues impacting alternative investment managers and their investors.
Moderator:
Managing Director, Asset Consulting Group
Panelists:
Managing Director, BP North America
Director, Public Citizen's Energy Program
Principal, Rothstein Kass |
| 6:30 pm |
Cocktail Reception
Sponsored By:
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| 7:15 am |
Continental Breakfast
Sponsored by: |
| 7:50 am |
Welcoming Remarks
Managing Member, Agecroft Partners |
| 8:00 am |
Global Trends and Outlook
Is the world downshifting into a Renewed Recession?
Global economies are decelerating toward the tipping point of renewed recession. In Europe, the EU faces a critical moment of truth as EU unity is being tested by ever larger bail out payments from the Core to the Periphery.
Volatility in capital markets is once again surging toward record levels, as surging costs for Credit Default insurance on Financial Institutions around the world indicates rising default risk.
Will the second half of 2011 bear witness to more and escalating financial contagion, or are capital markets about to exit the recent storm and head for calmer seas.
In this session, we provide an overview of all current trends and outlook, with focus on key global macro dynamics and a review of major capital markets along with other critical variables
which must be monitored in the challenging weeks ahead.
Executive Vice President, Sierra Investment Management |
| 8:20 am |
Does Opportunity Outweigh Uncertainty in CRE Markets? A Look from 2011—2015
Managing Director, PeachTree Capital & Income Fund I |
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TRACK A |
TRACK B |
| 8:45 am |
International & Emerging Markets Overview
- Latest developments in emerging markets
- What percentage of your portfolio should be allocated to emerging markets
- What position do these assets play in the portfolio at the optimization level?
- What countries are most attractive?
- What are the investment opportunities in the BRIC economies
- Which sectors present the greatest risk and what are the risk factors specific to these markets and other Emerging Markets
- What are the types of investment vehicles available to gain exposure to emerging markets
- Frontier markets – the next emerging markets
- Frontier investing and why it should be a component of your emerging market exposure
Moderator:
Principal, Mercer
Panelists:
Portfolio Strategist & Partner, Prince Street Capital Management
Head of Business Development, UFG Asset Management
Founder & CEO, Pacific Sun Advisors |
Real Assets: Who should invest in this asset class and why?
- Energy investing
- Understanding how timber and timberland could enhance a diversified portfolio
- What are managers doing to hedge against interest rate risk
- What Are the After Tax Implications of Real Assets
- How Do Real Assets Recognize Client Liabilities
- What is the current state of the gold market
- A case for Precious Metals
- Oil and gas
- Infrastructure
- Green Investing
- Agricultural
Moderator:
Entreprenuer-in-Residence, Nevada Institute for Renewable Energy Commercialization (NIREC)
Panelists:
Head of Corporate Development, Tortoise Capital Advisors
CEO, TIMBERVEST
CEO, Guggenheim Aviation Partners LLC
Chief Executive Officer, Wood Creek Capital Management |
| 9:45 am |
Asset Allocation: The Role of Alternative Investments
- What percentage should be allocated to alternative investments
- Realistic expectations moving forward
- How should you diversify across hedge funds, fund of hedge funds, private equity and other alternative asset classes
- Investor concerns for the upcoming year
- Critical considerations for hedge fund allocation
- Selecting the optimum asset allocation for your alternatives portfolio
- The current and prospective global economic trends in asset allocation
- What are the costs of implementing alternative allocation?
- Risks involved
Moderator:
CEO, Northwestern Oklahoma State University Foundation
Panelists:
Managing Director, Blue Harbour Group
Investment Research, World Gold Council
Principal, Platinum Credit Management LP |
The Case for Private Equity: Identifying the most promising opportunities
- Current state of fundraising; where is the smart money going?
- Liquidity in PE: IPO's, secondary markets and exit strategies
- Current state of the secondary market
- Where is this asset class in 5 years?
- How are returns impacted when a hedge fund strategy is blended with a private equity strategy?
- Hedge Funds and Private Equity
- Private equity in real estate
- Private Equity in Infrastructure
- Current trends and emerging opportunities in Private Equity
- How are deals being sourced
- Distressed Investing Secrets
- Risk and return characteristics of private equity, are they changing
- What are the most pressing issues facing the private equity industry today
- Pros and cons of private placement versus going public
- Private Equity in the Public Markets
Moderator:
Managing Director, Pension Consulting Alliance
Panelists:
Senior Consultant - Private Markets, NEPC, LLC
Chief Investment Officer, Performance Trust Investment Advisors, LLC
Principal, NovaFund Advisors |
| 10:45 am |
Refreshment Break
Sponsored by:
Options Industry Council |
| 11:00 am |
Real Estate: Challenges and Opportunities
- Outlook on the path to recovery
- Buying from the banks
- Core vs. Opportunistic
- What significant opportunities and challenges face the Real Estate sector
- How to find and choose a real estate manager that is right for your plan
- What new areas of opportunity are developing
- Private equity real estate investments
- Views on interest rates and the impact on real estate investing
- Understanding different types of real estate private equity investment strategies
- Real Estate investing trends in the U.S
- Distressed real estate opportunities
- International opportunities
- Exit strategies
Moderator:
Executive Director, Colorado Brownfields Foundation
Panelists:
Founder, Vice Chairman & Former CEO, PENSCO Trust Company
Managing Director, Finance & Co-Head Fixed Income Investments, Gemini Real Estate Advisors
Senior Managing Director, Pathfinder Partners, LLC
Partner, West Realty Advisors, LLC |
Fund of Funds
- The current fund of funds landscape and what is in store for the future
- How are Fund of Funds being used today any differently than they have been used in the past?
- What are realistic return expectations for fund of funds given the current market environment
- Is the strategy still viable?
- How are Fund of Funds evolving to sustain performance in a ever changing environment
- How are Funds of Funds reacting to consulting firms entering what some think is an already an overcrowded space
- What should investors be looking for when allocating to Funds of Funds
- What are the benchmarks
- Are Funds of Funds performing sufficient due diligence
- Can fund of funds managers identify and access managers capable of out-performing across market cycles
Moderator:
Vice President Alternatives Consulting Group, Callan Associates
Panelists:
President, Diversified Global Asset Management
Vice President, Balestra Capital
Tradex Global Advisors
Vice President, Custom Funds, Titan Advisors |
| 12:00 pm |
Equity Investing
- Globalization & rise of the BRIC countries
- The international equity market
- The domestic equity market
- Role of the traditional core portfolio
- Where are the best investment opportunities in 2012
Moderator:
Director of Investments, University of Iowa Foundation
Panelists:
CEO, SVRT Corp. (MFO)
Principal & CIO, Grand Slam Asset Management
Trustee, Virginia Retirement System Head of Long/Short Strategies, UBS Global Asset Management |
Investment Trends for 2012
Economic Outlook: An analysis of today’s current markets
- Top concerns for Investors & how they are addressing them
- Asset allocation - expected trends in 2012 & beyond
- A macro-economic outlook on global trends
- A look at the EuroZone and US debt Crisis
Moderator:
Vice Chairman, Delray Beach Police and Fire Pension
Panelists:
Chief Investment Officer, Penn State University
Managing Director, Chief Investment Strategist, Board of Directors, TIAA-CREF
Director, Clontarf Capital |
| 1:00 pm |
Luncheon |
| 2:15 pm |
Consultants Roundtable
Hear experts discuss top opportunities in alternative investing
- Predictions for 2012
- New Era? New Model?
- Merits and weaknesses of the industry.
- Evaluating service providers going forward given recent market turbulence
- Should institutions seek a one stop shop service provider rather than an A La Carte approach?
Moderator:
Trustee, Leukemia & Lymphoma Society
Panelists:
Principal, Asset Strategy Consultants
Managing Principal, Fund Evaluation Group, Inc.
SVP and Senior Consultant, Investment Performance Services, LLC |
| 3:15 pm |
Investing In Alternatives
- Life settlements as an alternative asset class
- How alternatives diversify a portfolio
- How is the global economy and current global events affecting alternative investments
- Top alternative asset classes
Moderator:
Fund Administrative Manager, Automobile Mechanics Local #701 Benefit Funds
Panelists:
GRAY & COMPANY
Senior Managing Partner, Corry Capital Advisors
Managing Partner, Vine Alternative Investments Group, LLC
Senior Managing Director, GRAY & COMPANY
CEO, madison strategic partners |
| 4:15 pm |
Manager Selection
- Choosing a Manager to consistently Beat the Benchmark
- Who is outperforming
- What changes are managers making in their strategies
- Understanding the hedge fund manager
- Understanding the Role of Fees in the Manager Selection Process
- The role of the consultant in the manager selection process
- The top 5 attributes to look for when choosing a manager
- Track Record
Moderator:
President, GenSpring Family Offices (MFO)
Panelists:
Vice Chairman and COO, Macian Wealth Management, LLC (MFO)
Senior Investment Officer, Lebanese American University
Managing Director, Centerwood Partners, LLC |
| 5:00pm |
Cocktail Reception
Sponsored by: |
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Tuesday, December 6, 2011 |
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| 7:30 am |
Continental Breakfast
Sponsored by: |
| 8:20 am |
Welcoming Remarks |
| 8:30 am |
The Crisis in the Eurozone:
The impact of the European debt crisis on the United States
Speaker:
Trustee, Virginia Retirement System |
| 9:00 am |
Risk
- Are hedge funds a sound alternative for asset allocation in the short term
- Managing portfolio tail risk
- Risk management for alternative investment strategies
- Are there some overlaps between operational risk and investment risk?
- How does operational risk vary from investment risk?
- What strategies are being used now
- Risk-adjusted asset allocation
- Risks involved in hiring a hedge fund manager
- How Much Risk are Funds Taking on in their quest for greater returns?
- Managing risk in single-strategy, multi-strategy of fund of fund portfolios
- Performance and risk monitoring
- Global risk and geopolitics
- Where do you allocate risk in a high-fee environment?
Moderator:
Vice President/Director of Research, Marquette Associates
Panelists:
President - Investment Committee, University of California
Trustee, San Jose Police & Fire Department Retirement Plan
CEO, Maple Leaf Capital
President, ProLink Solutions |
| 10:00 am |
Compliance and Fiduciary Responsibility
This session will explore the compliance and fiduciary issues that hedge funds and Fund of Funds are facing in today's current regulatory environment.
- Current Issues in hedge fund litigation and governance Fiduciary responsibility
- Securities Class Action Litigation & Settlement
- Due Diligence: what do investors need from you and what do you have to provide to them?
- Investor protection
- Conflicts of interest
- SEC registration/examinations update
- Enforcement actions
- Responsibilities of directors
Moderator:
Assistant City Attorney, City of Birmingham, AL
Panelists:
Senior Corporations Counsel Enforcement Division, California Department of Corporations
Principal & Co-Founder, InSight Employee Benefit Communications
General Counsel, Delaware Public Employees' Retirement System
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| 10:45 am |
Portfolio Construction: What to look for in a manager
- Which strategies have been benefiting portfolios and where to look in the upcoming year
- What is involved in structuring a well-diversified portfolio?
- What is the role of a consultant?
Moderator:
Chairman of the Board, Krystal Foundation
Panelists:
Chairman, THE WEALTH & FAMILY MANAGEMENT GROUP
Founder & CIO, Anfield (MFO)
Trustee, Oklahoma Firefighters Pension & Retirement System
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| 11:30 am |
Closing Remarks |
| 12:30 pm |
Golf Tournament |
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Untitled Document
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