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Public Funds Summit East
"NAVIGATE THE FUTURE" |
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| July 18-20, 2011 |
| Newport Marriott, Newport, RI |
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| 8:00a |
AMERICA'S CUP REGATTA
Sponsors: |
| 8:00a |
Exhibit Set-up |
| 11:00a |
Registration |
| 12:30p |
Opening Remarks
Trustee, Boca Raton (FL) Police & Fire Retirement Assoc. |
| 12:40p |
Gold:"a commodity like no other"
Commodity allocations have become more common among investors as a means by which portfolio diversification can be enhanced. (Globally, commodity assets under management more than doubled between 2008 and 2010 to nearly US$380 billion). However, gold's physical attributes, the sheer diversity of its application and the size of the global gold market set it apart from other commodities. Gold is not only different from other commodities with respect to its performance, volatility, correlation and its composition of demand and supply, the gold market is also very large and liquid. For investors seeking to achieve true diversification, an outright position in gold provides benefits that cannot be replicated by simply investing in a broad basket of commodities. A modest, consistent holding of gold increases long-term risk-adjusted returns in a way that a commodities basket alone does not and an outright investment in gold reduces risk without diminishing long-term returns.
Investment Research, WORLD GOLD COUNCIL |
| 1:00p |
ActiveBeta Indices: High-Efficiency Characteristic Indices
- The positive side of traditional active management: high exposures to stock characteristics that have been shown to deliver market outperformance in the long run
- The negative side of traditional active management: 1) general lack of stock selection skill, 2) overly concentrated portfolios, 3) high management fees
- Investors can create more efficient overall portfolios by unbundling characteristics selection from stock selection and implementing characteristics selection passively
- ActiveBeta Indices provide an efficient, transparent, low-cost and high-capacity passive alternative to capture characteristics-based returns
Speaker:
CEO and CIO, Westpeak Global Advisors |
| 1:20p |
Investor outlook: The State of the U.S. Retirement System
Moderator:
Sr. Consultant, Marco Consulting Group
Executive Director, Minnesota State Board of Investment
Panelists:
Board Member, State of Rhode Island
Trustee, VERMONT STATE TEACHERS RETIREMENT SYSTEM
Chairman,Atlanta Firefighters Pension Fund
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| 2:30p |
Equity Investing
- Domestic vs. International Equity
- Global strategies
- New opportunities ahead?
- Enhanced equity strategies
- What to look for when selecting an equity manager
Moderator:
Vice President, J.P. Morgan Investment Analytics & Consulting Group
Panelist:
Managing Director/Senior Investment Strategist, RIDGEWORTH
CIO, Global Wealth Allocation
Vice President, Intech |
| 3:30p |
Afternoon Refreshment Break
Sponsored by: |
| 3:45p |
Hedge Funds
- What is the value added by hedge funds (alpha)?
- What are their systematic market exposures (betas)?
- How much leverage is too much?
- Should your fund invest directly or through fund-of-funds?
- How much transparency do you need?
- Are hedge fund fees justified?
- Do hedge funds increase or reduce risk for pension funds?
- Changing economics for hedge fund managers
- How will hedge funds fit into an institutional investor's portfolio
- Which hedge fund strategies will thrive in the current market environment?
- Legal issues
- Manager incentives associated with hedge funds
- Performance measurement of hedge funds
Moderator:
Investment Committee Member, City of Richmond Retirement System
Panelists:
Chief Investment Officer, Rhode Island Employees Retirement System
Chairman, WR Platform Advisors
Director of Marketing, Brigade Capital Management
Director of Research, Liongate Capital Management |
| 4:45p |
New Investment Opportunities: Styles & Strategies
Moderator:
Trustee, Tampa Fire & Police Pension Fund
Panelists:
Managing Director, Investment Strategist, Mellon Capital Management
Co-Founder & Managing Director, LM CAPITAL GROUP
Managing Director, Advent Capital Management |
| 5:45p |
State Treasurers' Roundtable
Moderator:
Senior Vice President, State Street
Panelists:
State Treasurer, The State of Idaho
State Treasurer, The State of Iowa
State Treasurer, State of Utah
State Treasurer, STATE OF RHODE ISLAND
State Treasurer, State of Delaware |
| 6:45p |
Cocktail Reception
Sponsored by:
Westpeak Global Advisors
Beer provided by:
Narragansett Brewing Company |
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| 7:15a |
Continental Breakfast |
| 8:15a |
Opening Remarks
Trustee, Boca Raton (FL) Police & Fire Retirement Assoc. |
| 8:30a |
Investing in Troubled Waters
- Sovereign debt in Europe
- Near term future of the US economy
Trustee, Virginia Retirement System |
| 9:00a |
Real Estate
- What significant opportunities and challenges face the Real Estate sector
- What new areas of opportunity are developing
- Commercial vs. Residential
- The current state of the international and domestic REIT market, public & private understanding different types of real estate private equity investment strategies
- A closer look at International Real Estate trends
- Distressed Real Estate Strategies
Moderator:
Principal, THE TOWNSEND GROUP
Panelists:
General Partner, Bainbridge ZKS
Managing Director, Metropolitan Real Estate Equity Management, LLC
Managing Director, JP Morgan Asset Management
MHC/RVP Specialist, Westfield Realty Group |
| 10:00a |
New Strategies in Alternative Investments
- How alternatives diversify a portfolio
- Key mistakes to avoid
- How is the global economy and current global events affecting the public funds space
- Where is the growth in alternatives
Moderator:
Executive Director, Holyoke Contributory Retirement
Panelists:
Managing Director, SkyBridge Captial
Managing Director, US Research and Portfolio Management,FRM Americas
Managing Director, Prisma Capital Partners
Managing Director, JPMorgan Alternative Asset Management |
| 11:00a |
Refreshment Break
Sponsored by: |
| 11:15a |
Real Assets Investing
- Who should be investing in Real Assets and why?
- What are the real return characteristics of Real assets?
- Direct vs. Indirect Investments
- Risks involved
- Investing in Timber
- Diversifying with Agriculture
- Oil & Gas
- Precious Metals
Moderator:
Chairman, CITY OF AUSTIN POLICE RETIREMENT FUND
Panelists:
Chief Executive Officer, TIMBERVEST
Co-Director of Research, Portfolio Manager, Senior Energy Analyst, Clearbridge Advisors
Investment Executive, Alvery Bartlett Group
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| 12:00p |
Asset Allocation
- What asset classes will perform best in the next 12 months
- The role of hedge funds in asset allocations
- What new asset classes are worth considering?
- Incorporating alternative strategies within traditional strategies
- Determining the optimal investment mix
- Latest methodologies for constructing efficient portfolios
- Pros and cons of risk parity strategies
- Tactical asset allocation
Moderator:
Trustee, SAMBA FINANCIAL GROUP-UK PENSION SCHEME
Panelists:
Partner, NEPC, LLC.
Chief Investment Officer, AllianceBernstein
Partner, Windhaven Investment Management, Inc
Portfolio & Risk Manager, Security Global Investors |
| 1:00p |
Luncheon
Sponsor:
Labaton Sucharow
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| 2:15p |
Investing in the credit markets
Moderator:
Trustee, FARMINGTON PENSION BOARD, CT
Panelists:
Managing Director, Golub Capital
Portfolio Manager & Principle, Pinebank Asset Management
Trustee, Virginia Retirement System |
| 3:00p |
Private Equity Outlook
- What Private Equity Strategies are producing the best returns?
- How the private equity market has faired since the crash
- Asset allocation decisions and up and coming trends
- Pros and cons of private sale versus going public
- How to build a new private equity program and take it to mature stage - length and phases of the development
- The convergence of Private Equity and hedge funds
Moderator:
Vice Chairman, Delray Beach Police and Fire Pension
Panelists:
Principal, Coller Capital Management
Managing Director, Fisher Lynch Capital
Trustee, Boca Raton (FL) Police & Fire Retirement Assoc.
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| 3:45p |
Refreshment Break
Sponsored by:
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| 4:00p |
Legal issues facing public pension plans
- Recent developments
- Shareholder activism
- Investor protection
- Best practices and compliance issues for the hedge funds and fund of funds
- Conflicts of interest
- Outcome of current legislation and regulations
- SEC update
Moderator:
Assistant City Attorney, City of Birmingham, AL
Panelists:
Partner, Labaton Sucharow LLP
Partner, Hanson Bridgett LLP
Counsel, Delaware Public Employees' Retirement System |
| 4:45p |
Economic Outlook: An analysis of today's current markets
Moderator:
Chairman, Daytona Beach Police and Fire Pension Fund
Panelists:
Chairman, City of Pontiac General Employees Retirement System
Managing Director,Pension Consulting Alliance
Managing Partner, Chief Investment Officer, Veritas Partners, LLC |
| 5:30p |
Cocktail Reception
Sponsored by:
Saxena White
Narragansett Brewing Company
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| 8:00a |
Continental Breakfast
Sponsored by:
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| 8:50a |
Welcoming Remarks |
| 9:00a |
A look at Pension Consultants and their role in the investment process
Moderator:
President, Board of Trustees, City of Aurora Police Money Purchase Pension Plan
Panelists:
Senior Consultant, Segal Advisors, Inc.
Consultant, Meketa Investment Group
Chairman, NEPC, LLC
Principal, Consulting Actuary, Buck Consultants |
| 10:00a |
Challenges Facing Plan Sponsors
Moderator:
Senior Vice President of Investor Relations, Paulson & Co Inc.
Panelists:
Trustee, Policemen's Annuity & Benefit Fund of Chicago
President & Trustee, NEW YORK CITY UNIFORMED FIREFIGHTERS ASSOCIATION
Trustee, City of Danbury (CT)
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| 11:00a |
The DB/DC debate --still affecting pension plans?
- Differences between a 401k in the corporate world vs. a 401a in the public sector.
- What is the current pay differential between corporate and governmental employment
- The probability of success in individual saving vs. pooled funds.
- The cost to continue funding a DB plan while also supporting individual plans.
- Ways to decrease cost of DB plan: (increase age and/or years to retire and employee contribution.)
- Administrative and fiduciary responsibility of a DC plan to the employer.
- Collective bargaining impacts and changes: Unions vs. management, Unions vs. Legislators
- Experiences of other states with DC plans: W. Virginia, Alaska, Florida, etc
Moderator:
Chairperson, Old Saybrook Retirement Board
Panelists:
President,Oakland Municipal Employees' Retirement System
Chairman, Orlando Police Pension Fund
Trustee, New Hampshire Retirement System |
| 12:00p |
Closing Remarks |
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Untitled Document
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