·         Latest regulatory status and prospective developments

·         Early assessment of the shape of the Spanish hedge fund industry

·         Review of first funds of hedge funds launches and new products

·         Industry pioneers’ forecasts on industry developments

·         How have the main market players adapted to the new framework?

·         Have any new problems or issues emerged?

·         What further regulatory or market developments may be necessary?

·         Prospects for single hedge fund launches

·         Comparison with other European markets

·         Mutual funds: who will use their 10% hedge fund allocation and how?

·         Pension funds and insurance companies: prospects for regulatory developments

·         How hungry are institutional investors for hedge funds?

·         What levels of transparency and risk control are necessary?

·         Assessing the most appropriate investment vehicles for institutional investors

·         How well do private banks understand hedge funds?

·         What is the appetite for hedge fund investing among private bank clients? What are their risk constraints?

·         Which type of hedge fund products will private banks offer?

·         Beyond distribution – what capabilities will private banks need to develop?

·         Evaluating the demand for hedge fund products among retail investors

·         What are the unique characteristics of this market including risk tolerances?

·         How important are liquidity and lock up periods for retail investors?

·         Potential impact of European regulations

·         Domestic demand for alternative investments

·         CAAM global offer in alternative investment

·         Green Way Managed Account

·         How important is transparency, liquidity and risk control for Spanish investors?

·         What are managed accounts – are they flexible enough?

·         Learning how to use managed accounts

·         Exploring the range of passive vehicles available in Spain

·         Comparing passive performance with actively managed funds

·         When and how should indices and ETFs be used?

·         What criteria should be used to select an investment advisor?

·         Deciding the scope of the advisor’s role and responsibility

·         Developing in-house management capabilities

• Understanding the different sources of risk faced by Hedge Funds investments
• Risk managements in a fund of funds
   - measuring returns and risk on hedge funds
   - hidden risk of hedge funds
   - risk adjusted performance analysis
• Monitoring fund of hedge funds allocations

·         Critical consideration of the establishment of single funds and funds of funds in Spain

·         Regulation, custody and depot bank

·         Supporting the end to end trading process and related administration

·         Which types of funds will need prime brokers?

·         Examining the critical terms for collateral agreements between managers and prime brokers

·         Prospects for the Spanish industry

·         Benefits and risks of leveraging your portfolio

·         Evaluating current market practices

·         Deciding the appropriate financing structure

·         Understanding investor requirements

·         Winning investor selection processes

·         The distribution landscape in Spain

·         Is it necessary or desirable for Spanish managers to emerge?

·         How likely are Spanish investors to invest directly in single managers?

·         The required ingredients to develop Spanish managers

·         Review of market environment and key factors: winners and losers

·         Top picks for 2007

·         Directional and relative fixed income strategies

·         Directional and relative equity strategies

·         Multi-asset class strategies

An opportunity to hear presentations by single fund managers on their investment experience, strategies and styles.

·         What do funds of funds have to deliver for the Spanish market? Liquidity? Risk control? Structuring?

·         Domestic versus international players: how will the balance evolve?

·         How will funds of funds develop their distribution capabilities?

An opportunity to hear presentations by funds of hedge fund managers on their investment experience, strategies and styles.

·         Setting clear objectives and parameters for a hedge fund investment programme

·         Establishing benchmarks

·         Incorporating multiple asset classes

·         Incorporating single strategy funds of funds into investment portfolio

·         Investing in single managers

·         Advanced risk management techniques

·         Event driven or M & A strategies: when and where is the money made?

·         Short-selling strategies: how can they fit into a fund of funds?

·         Natural resource and commodity strategies: what are the important differences?

·         CTAs: how do they perform and integrate into a portfolio

·         Structured credit: understanding the underlying risks

·         Emerging managers: compensating for a lack of track record

·         Most common investment challenges

·         The 3 “AIMS” of alternative investments

·         The fundamentals of hedge fund strategies

·         Latest developments and performance by strategy

·         Why the “multi” – concept in hedge fund investing?

·         Ways to invest in hedge funds

·         The funds of hedge funds investment process

·         Sustainability of alpha in light of the explosion in the number of hedge fund managers

·         Reducing exposure to homogenous strategies and the need for innovation

·         They keys of the risk management process

·         Are hedge fund returns unavoidably diminishing?

·         Are managers that generate alpha skilled or lucky?

·         Searching for alpha with funds of funds

·         Are there far too many hedge funds and far too many funds of hedge funds in the world?

·         The fee overlay discussion – what are the alternatives?

·         Where are there new opportunities to be exploited?

·         Are there many new “Amaranths” to be expected?

·         Where do the key risk management challenges lie?