• What drives Japan’s financial and economic trends?
• How does the world’s largest credit country Japan impact global asset markets?
• Why will hedge funds managers see a new golden age in Japan?
• What pro-market policies will the new government adopt?

• Analysing why Asia will be the most important arena for future hedge fund developments over the next ten years
• Assessing the re-emergence of Japan as an important market driver and how it will become a pivotal player - Who, How, What, Where and When?
• Understanding why the temptation is to confuse asset class opportunities for strategy opportunities - Searching for alpha?

• Analysing the increased influence of hedge funds on financial markets
• Taking a closer look at the risk-return characteristics of hedge funds
• Central bank’s perspective

• What does it take for hedge funds to succeed in Japan? Assessing the current and future position of the Japanese hedge fund marketand identifying the key drivers of growth and performance
• How can domestic hedge funds in Japan hold their own stance against global rivals invading the nation?
• What type of hedge fund products are currently in demand now and how is this likely to change in the future?
• What is the institutional vs. retail uptake? What are the key strategies to widen the Japanese investor base?
• Discussing Japan’s current hedge fund laws as a catalyst for the hedge fund industry

• Traditional attributes of fund of funds
• Institutional influence on fund of funds
• Emerging challenges
• A new paradigm for fund of funds
  - flexible platform
  - asset allocation engine
  - innovation / cutting edge analytics

• How are hedge funds changing the dynamics of capital-raising and the capital markets in Japan?
• What are the needs and requirements of Japanese institutional andHNWI investors?
• Identifying new capital-raising tactics, distribution channels andinvestor strategies in the industry•Making the distinction between pre-marketing and actual marketing– pinpointing what you can and cannot do in Japan

• Evaluating risk, return and liquidity of investable hedge fund indices, fund of hedge funds and multi-strats
• Are fund of hedge funds really working and are they worth the fees? Can investing in multi-strategy managers do the trick?
• Has the growth in popularity of multi-strategy with institutional investors been at the expense of fund of funds?
• Discussing critical issues such as transparency, manager selection, capacity, due diligence, performance, and independent pricing
• Investigating why a very low correlating asset class will benefit investors portfolio

• Why structuring around hedge funds makes sense
• The various structuring techniques
• New developments in structured hedge fund products

• Evaluating the driving factors in the increase of M&A activities in Japan and the implications for corporate takeovers and shareholder activism
• As Yoshiaki Murakami admitted to insider trading, what are theimplications for Japanese activist funds? And hedge funds?
• Are event-driven hedge funds becoming Wall Street’s new shareholderactivists?
• Forecasting the future of private equity and hedge funds-will the two become one?

• What is trend following?
• Who are the trend followers?
• What is the historical performance?
• Understand how to limit risk, employ discipline, and swing for the home run.
• Decide what to trade, when to trade it, and how much to trade.
• Examine how it’s done: classic case studies from leading trend followers.

• Identifying the key sources of risk and return for a global macro strategy
• Understanding how systematic and discretionary managers work and how they reap profits
• Comparing and contrasting discretionary managers with global macro managers

•     Assessing the investment goals that institutional investors wish to achieve with a hedge fund investment
  - is hedge funds a prudent diversification strategy?
• What type of hedge funds or fund of hedge funds do they want and how do they want it managed? How do hedge fund strategies fit into their overall portfolio?
• How much of the current investment portfolio is allocated to hedge funds or fund of hedge funds? Do investors plan to increase their hedge fund allocation in the near term, by how much and why?
• What are the investment restrictions for various types of investors?
• What can go wrong? Identifying costly mistakes that hedge fund managers have made in the past and can avoid in the future

• Assessing what Japanese investors are investing in now, near future and why?
  - Fund of hedge funds, single strategies or multi-strategies?
  - Japan, Asian, global or emerging markets?
• Identifying the key criteria investors look for in getting allocations to the best managers – Discussing transparency, capacity, track recordand experience
• Constructing a unique framework to achieve optimal asset allocation

• What legal aspects should investors be aware of?
• What are the regulatory implications of hedge funds?
• How does Japanese law treat hedge funds?
• Is the Japanese legal environment hostile against hedge funds?
• The treatment of hedge fund investments under Japanese Basel II regulations.

• Discussing critical issues in operational and structural areas that are relevant to Japanese investors’ investment making process
• Assessing key risk factors that investors should be aware of in the Japanese hedge fund business:
  - Manager organisation
  - Fund structure
  - Back office
  - Valuation process & valuation subjectivity
  - Degree and quality of independent oversight
• What sort of questions should Japanese investors ask their hedge fund manager? Are investors asking the right questions?
• What are the prospective warning signs of trouble? What are the potential blow-up scenarios?

• Foreign exchange exposure - does it matter?
• Hedging FX risk vs. the passive approach
• A fundamental framework to make money in FX markets
• Controlling FX risk: A statistical and pragmatic approach    

• Struggling to find the right emerging Asian manager to add value to investors investment portfolio
• Understanding and evaluating the specific risks associated with young hedge fund entrepreneurs
  - What do investors need to know?
• Discussing early stage managers competitive return profiles relative to their more established peer groups- who will outperform?
• Conducting proper due diligence and careful monitoring in discovering and gaining capacity with emerging hedge fund managers

• Understanding the involvement of seeders in building the next great hedge fund
• Sharing the experience: pitfalls and successes
• Finding the perfect edge with a manager’s investment strategy
• Tackling the key issues of seed capital, track record, infrastructure, regulation and marketing in Japan
• If you had the opportunity of doing it all again, what would you do differently?

This panel will introduce a distinguished group of new Japanese focused hedge fund managers, who have emerged during the past 24 months. Each manager will outline their investment ideas and strategies that define their fund.

• What is the investment process of your fund? How do you generate investment ideas for your specific fund?
• What is your approach to managing risk?
• What differentiates you from other managers in your particular sector?
• How and where do you distribute your fund? What is your current and targeted investor base?
• What is your performance like?
• Do you have any plans for new product / fund launches in the near future?

An opportunity for investors to come face-to-face with Asian/International hedge fund managers, all open to new investments! Fund managerswill discuss why their strategy and market focus will provide Japanese investors the best risk-adjusted returns for their portfolio over the next 12 months. There will be no power point presentations during thissession.

Topics include:

• What events do you expect to see in your sector in the year ahead?How will these changes or events impact your investment portfolio?
• Identifying and managing strategy specific risks for Japanese investors
• Generating alpha in volatile markets
• Which strategy will fare best in the coming year?