• Working in the most sophisticated of markets: advantages and challenges
• The value of experience in the market

• Modelling and benchmarking of hedge fund returns
• A new generation of investable hedge fund indices
• The concept of alternative beta strategies

• Assessing the size of the challenge – how serious are liability deficits?
• The impact of IFRS, US GAAP and IAS 39 regulations
• Alternative approaches to LDI: overlay vs. replication
• Hedge funds within a liability-driven investment strategy

• Our view on liability-driven investing
• Why and how are we invested in hedge funds?
• Can hedge funds help in a liability-driven investment strategy?

• New developments in portfolio construction
• Techniques in portfolio insurance
• Challenges of German regulations

• Assessing the appetite for regulatory developments among Swiss alternative investors
• What criteria should be used to define investment guidelines?
• Harmonising regulatory regimes for different Swiss investors
• Learning from international regulatory frameworks (SEC approach, US GAAP, IAS 39 and Solvency II)

• Crowding out: are risk-managed approaches dominating the market?
• How are private investors finding returns to match their risk tolerance?
• Connecting performance to fees: do returns justify the cost?

• Buying equity stakes in funds of funds and single fund managers
• The relative advantages of developing a dedicated in-house capability
• Balancing local and group-wide interests - implications for regulatory freedom and flexibility

• Why institutional investors are looking for alternative assets
• Different core-satellite models for institutional investors: strengths and weaknesses
• Optimal models for investor types

• Defining the hedge fund universe: traditional and alternative beta
• The benefits of alternative, systematic risk premiums (alternative beta) for investors
• Applying alternative beta components in the traditional portfolio management context

• The merits of managed accounts: transparency, liquidity, risk monitoring

• How activist should hedge funds be?
• How does shareholder activism differ across regions and markets?
• What are the limits to activism?
• What is the time horizon needed to realize returns from an activist approach?

• Review of market environment and key factors: winners and losers
• Top picks for 2007

Following Dr. Cottier’s presentation, he will be joined by some leading managers and investors to forecast and discuss the prospects for single hedge fund strategies over the next 12 months.

 Dr. Peter Meier and Hedgegate.com will present the results of his latest research on funds of funds performance and present his key findings on the most successful strategies.

• Are alternatives delivering as promised?: dealing with contamination by market beta
• Is cost pressure squeezing out funds of funds?
• Increasing interest in focused strategy funds of funds
• Regulated vs. offshore 

• Why structured credit?: tightening high yield spreads, higher returns
• Identifying potential risks
• Integrating structured credit into a portfolio

• Quantifying the benefits of commodities in a portfolio
• Fundamental drivers of commodities markets
• Developing an investment strategy for commodity investing

• How do the BRIC markets work: what are the differences?
• Strategic choice: direction / long only or hedge fund approach?
• Choosing the right managers who can navigate market turbulence
• Hedging opportunities in Russia

• Benefits of stable and high cash flow yield; distributing to shareholders
• Long-term nature of asset classes and prospects for demand growth
• Contrasting real estate and infrastructure

• The risks and opportunities associated with climate change
• Risks: more regulation, physical risks, reputation and litigation
• Opportunities: new markets, asset classes and products
• Which asset classes will be most affected by climate change?

For Swiss investors looking to improve portfolio performance, portable alpha looks like a tempting strategy but how practical is it and will it become a long-term feature?

• Deciding risk allocation

• Selecting an efficient beta provider

Structured products have been useful tools for tailoring the risk / return profile on hedge fund investments but how can they fit into a long-term investment strategy?