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Day One, Wednesday 25 July 2007
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| 07.45 | Registration and welcome coffee
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| 08.20 | Opening remarks from the chair
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| GLOBAL RACE FOR OUTSTANDING RETURNS |
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| 08.30 | Keynote panel discussion
Global outlook and growth in alternative assets
- Rising acceptance of alternatives as mainstream
- Diversification opportunities
- Investment efficiency
- Execution of absolute return mandates
- Alpha separation and integration
- Potential hurdles for future growth
- Forecast of top performing strategies for 2007
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| 09.10 | Keynote address
The double-digit return experience of a superannuation fund
- Fund overview
- Rationale for heavy allocation to alternatives
- Board reactions to heavy allocations
- Outstanding returns
- Due diligence
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| | Tim Hughes, Chief Investment Officer, Catholic Superannuation Fund
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| 09.40 | The alternative investment experience of an industry super fund
- Fund objectives
- Diversification objectives
- Problems to consider when considering liquidity
- Issues to consider before investing in alternatives
- Corporate governance and risk
- Future projects
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| | Greg Nolan, General Manager, Investments, CARE Super
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| 10.10 | Keynote address:
How to expand your investment horizon with alternatives
- The VFMC investment strategy
- Moving towards in-house alpha and beta capabilities
- Alternative allocations
- Sources of outstanding returns
- Due diligence
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| | Leo de Bever, Chief Investment Officer, Victorian Funds Management Corporation
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| 10.50 | Morning tea and coffee
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| 11.20 | Panel discussion
The big picture: institutional investor demand for alternatives
- Diversification and absolute returns
- Broadening acceptance and understanding of techniques
- Market correlation
- Lower expected returns from traditional investments
- Longer-term horizons through illiquid alternative assets
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| | Tim Hughes, Chief Investment Officer, Catholic Superannuation Fund David Cannings, General Manager, Investment Services, Anglican Church, Diocese of Sydney Greg Nolan, General Manager, Investments, CARE Super
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| 12.00 | Alternative investing in Asia
- Why should you be allocating to Asia
- Managing risk exposures in Asia
- Quant investing in Asia – the next frontier
- Dealing with the issues: liquidity, short selling
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| 12.20 | Networking lunch
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| EVOLUTION OF HEDGE FUNDS INVESTING |
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| 13.30 | Keynote address
Attractive returns though Hedge Fund strategies
- Understanding the potential of hedge funds
- Search for alpha
- Rationale for pursuing hedge fund strategies
- Portfolio construction
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| | Carl Dunning-Gribble, Senior Vice President, Credit Agricole Asset Management Alternative Investment, Paris
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| 14.00 | Using absolute returns to diversify your portfolio
- Potential returns in rising and falling markets
- Diversification into non-traditional financial instruments and management techniques
- Returns from both income and capital appreciation
- Are you getting high alpha or repackaged beta strategies
- Investment techniques used by absolute return funds
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| 14.30 | Evaluating transparency and access issues before allocating to hedge funds
- Risks budgeting and transparency
- Diversifying risks
- Manager selection
- Latest strategies
- Trend: lower risk premiums for high risk assets
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| 15.00 | Afternoon tea and coffee
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| HEDGE FUNDS PERFORMANCE REPLICATION STRATEGIES |
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| 15.30 | Attack of the clones: synthetic hedge funds
- Understanding and replicating hedge fund strategies
- How is it done?
- Sources of returns
- Risk-adjusted returns
- Limitations of synthetic hedge funds
- Which returns can’t be accounted for?
- Where should you look for pure alpha?
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| | Harry Liem, Senior Associate, Mercer Investment Consulting
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| 16.10 | Top five considerations before hedge fund replication investing
- Pitfalls to avoid when specifying risk premia
- Human intervention vs fully automatic replication
- Minimising model risk
- How quickly do hedge funds move?
- Fee structures: what exactly are you replicating?
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| | Toby Chapple, Director, Head of Hedge Fund Replication, Deutsche Bank AG
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| 16.40 | Panel discussion
What do institutional investors think about synthetic hedge funds?
- Replicating hedge fund returns synthetically: are they clones?
- Fee structure: no pre-alpha fee
- Impact of shifts in markets on their dynamics
- Risk analysis: liquidity and transparency
- Selecting beta over alpha
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| | Andrew Frankling, Deputy Chief Investment Officer, Anglican Church, Diocese of Sydney Ben Bowler, Managing Director, Co-Head of Global Equity Linked Research, Merrill Lynch, Hong Kong
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| 17.20 | Closing remarks by chair and close of Day One
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| 17.30 | Networking drinks
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| 18.30 | Exclusive gala dinner sponsored by Crédit Agricole Asset Management
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Day Two, Thursday 26 July 2007
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| 08.15 | Welcome coffee
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| 09.00 | Opening remarks from the chair
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| NEW APPROACHES TOWARDS ALTERNATIVE INVESTMENTS |
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| 09.10 | Keynote address
Multi asset class investment strategy
- What is multi asset class investing?
- The Yale endowment model
- Rise of multi-asset class structured products
- Use of alternative beta factor portfolio to adjust exposure to risk
- Identifying high quality active management opportunities
- Pick of top five asset classes
- Reducing risks and increasing returns
- Model portfolio for pension funds
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| 09.40 | Using structured products to access off-shore investments
- Latest developments in captial guaranteed products
- How to incorporate structured guaranteed products
- Deferred purchase agreements
- Tax & compliance issues
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| 10.10 | Speed Networking
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| 10.40 | Morning tea and coffee
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| 11.10 | Panel discussion
Strategies for alternative allocations
- Asset allocation to alternatives
- Access to top investment managers
- Direct versus indirect investment
- Benchmarking
- Factors for manager selection
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| | Jon Addison, Fund Manager, Meat Industry Employees' Superannuation Fund, Australia
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| 11.50 | Interactive round table discussions -
Concurrent round table discussions on the hottest alternative asset classes
Roundtable 1: Carbon funds, carbon markets - a new frontier
Martijn Wilder, Partner, Baker & Mackenzie
Round table 2: Access to top managers in commodities
David Lee, Senior Investment Consultant, Mercer Investment Consulting, Australia
Round table 3: Access to top managers in non-traditional property sectors
Ken Atchison, Managing Director, Atchison Consulting, Australia
Round table 4: Access to hedge fund mangers and portfolio construction – managing risk in single-strategy, multi-strategy of fund of fund portfolios
Terrence Kwan, Hedge Fund Analyst, MQ Specialist Investment Management, Australia
Round Table 5: Replicating hedge fund returns synthetically: theory and practice
- What are the most important benefits of synthetics over traditional HFs?
- What are the risks of synthetics?
- Why synthetics will change the way investors think about and invest in hedge funds
- The importance of having more than one approach to replication.
- Who are the early adopters of synthetics and how are they using them?
Ben Bowler, Managing Director & Global Head - Linked Research, Merril Lynch, Hong Kong |
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| 12.40 | Networking lunch
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| NEW INVESTMENT VEHICLES AND OPPORTUNITIES |
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| 14.00 | The new investment management paradigm
- Atomistic approach to optimizing alphas and betas separately to synthesize investment returns
- Strategies for sourcing cheap and efficient betas (such as equities, credit, interest rates & commodities) organic vs. the synthetic route
- The alpha soup: Alpha (pure) at what cost?
- Hedging liability beta, LDI, Surplus optimization
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| | Jayesh Bhansali, Managing Director, Head of Global Derivatives Strategies and Trading, TIAA-CREF, USA
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| EVALUATING HIGH PERFORMING ASSET CLASSES: COMMODITIES |
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| 14.40 | Investor perspective: investing in commodities
- Supply and demand of key commodities
- Strategies for entry and exit
- Existence of risk premiums
- New investment options
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| | David Lee, Senior Investment Consultant, Mercer Investment Consulting
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| 15.10 | Panel discussion
Australia and commodities
- Australia’s position in the global commodities boom
- How to invest in commodities
- Taking advantage of market inefficiencies
- Benefits of an active management strategy versus passive futures approach
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| | Moderator: David Lee, Senior Investment Consultant, Mercer Investment Consulting Bill Evans, Global Head of Economics, Westpac Economics
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| 15.50 | Afternoon tea and coffee
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| EVALUATING HIGH PERFORMING ASSET CLASSES: PRIVATE EQUITY |
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| 16.20 | Panel discussion
Private equity investment strategies and outlook
- Performance overview
- Direct versus indirect investment
- Challenges in manager selection
- Exit strategies and execution
- Asset allocation to private equity
- Future outlook
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| | Moderator: Les Fallick, Founder and Managing Director, Principle Advisory Services
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| EVALUATING HIGH PERFORMING ASSET CLASSES: INFRASTRUCTURE |
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| 17.00 | Panel discussion
Superannuation funds and infrastructure investments
- Is it a good fit?
- Benefits of investing in infrastructure
- Risk analysis and information
- New opportunities
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| | David O'Sullivan, Chief Executive Officer, Building Unions Superannuation Scheme (QLD)
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| 17.40 | Closing remarks by chair
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| 17.50 | Close of conference
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