08:40  Keynote opening address: Spanish macroeconomics in a global context Key elements in the global macro picture Spain as a special case in the European context The short and longer term outlook Juan Laborda Herrero, Chief Economist, BBVA & Partners (Spain)
12:00  Panel discussion: risk analysis on mono-strategy hedge funds The case of a US fund of hedge funds The case of a US multistrategy fund The point of view of a structuring team (IXIS) Michael Litt, Portfolio Strategist, Frontpoint Multistrategy, Frontpoint Partners (USA)
Beata D. Kirr, Manager, Business Development, Aurora Offshore Fund Ltd, Harris Alternatives LP
Pierre Henri Moulard, Managing Director, Champs, Celestar Capital Advisors, LLC
13:40  Operational risk and liquidity Standards within the operational process Key operational risk parameters Minimising risk Increasing liquidity Key case studies Pierangelo De Bona, Marketing Manager, Citco Bank Nederland N.V. (The Netherlands)
16:20  Top-down aspects of hedge fund strategy allocation  Derek Stewart, CEO, Mellon Global Alternative Investments
16.50 Portfolio construction of funds of hedge funds The Hedge fund universe (sectors and strategies) Asset/manager allocation Manager evaluation process/criteria Identification of manager risks and business control points Ongoing monitoring- typical milestones Steven L. Bossi, Head of Funds of Hedge Funds, DB Absolute Return Strategies
DAY TWO
09:00  Chairman’s opening remarks Sasha Evers, First Vice President, Mellon Global Investments
12:00 John Kremer, Lehman Brothers
16:20  Case study: a local hedge fund’s experience in managing risk Risk management in a multistrategy hedge fund group Quantitative risk management:beyond VaR Market risk in a global macro strategy Jaime Castán, Managing Director, Vega Asset Management (Spain)