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Day One Tuesday 21 October 2008
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8.30am | Registration and refreshments
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9am | Chairman's opening address
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| THE DECOUPLING OF RUSSIA FROM THE GLOBAL ECONOMY – FACT OF FICTION? |
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9.10am | Opening keynote address: energy-rich Russia – red carpet or red tape for investors?
- Measuring Russia's progress toward the rule of law, an independent judiciary, and the transparency of the country's markets
- Assessing whether Russian investment in infrastructure is sufficient to sustain the economic boom
- Whither the Putin surpluses and the use of the growing reserves
- Is Russian risk too hot-handled?
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9.50am | Keynote address: has Russia really decoupled from the global economy?
- Finding the right balance between risk and return in Emerging Markets
- How does Russia fare against the rest of BRIC?
- Analysing the competitive advantages and disadvantages of exposing your portfolio to Russia & CIS
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10.20am | Panel session: assessing the Russian and CIS investment climate: opportunities vs challenges
- Which sectors are posting the highest returns? How vulnerable are they to the global credit crunch?
- Which ‘frontier sectors’ are currently on investors’ radar in Russia & CIS?
- Addressing major end investor concerns: transparency, corporate governance and volatility
- Where to look for major alternative investment opportunities in the near future?
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| | Mr Gregg Robins, Regional Head, Russia & Eastern Europe, Union Bancaire Privée Mr Erik L. van Dijk, Chief Investment Officer and Chief Executive Officer, Compendeon Investment Advisors
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11am | Morning refreshments and networking
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| RUSSIA’S ‘NEW ECONOMIC POLICY’ AND THE RISE OF ALTERNATIVES |
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11.30am | Matching strategic needs of the State with investor appetite
- Which economic sectors is the Russian government keen to make particularly investor-friendly?
- Investment opportunities presented by the country’s ailing infrastructure
- The present and future role of the International Financing Institutions
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12pm | Analysing the Russian & CIS alternative investment landscape
- Why alternatives? What do they provide? The benefits and opportunities
- Exciting opportunities within the alternative investment space still available
- Infrastructure, Pre-IPO, Banking/Finance, Distressed assets, Utilities
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| | Mr Sergey Bubnov, Head of Alternative Products Group, Renaissance Investment Management
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12.30pm | Networking lunch
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| ASSESSING MATURITY OF RUSSIAN AND CIS PRIVATE EQUITY: WHERE IS IT HEADING?
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2pm | Afternoon keynote address: putting Russia and the CIS in context: Emerging Markets private equity in 2008 and beyond
- How has the emerging markets private equity landscape evolved over the last few years?
- How have Russia and the CIS evolved relative to other markets
- Where is the industry headed?
- How will the “R” in BRIC fare in the future?
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2.30pm | LPs panel session: Russia and CIS vis a vis other private equity markets
- Is the region outperforming other private equity markets and how sustainable is such a stellar performance in the future?
- What are the risks and profit constrains?
- What criteria do LPs use when choosing a private equity fund?
- What elements HNWI and mid-market institutional investors would be looking for in order to start investing in private equity in the region?
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3.10pm | Panel session: alternative ways of gaining exposure to Russian and CIS private equity & venture capital
- Investing in funds or investing directly?
- Listed private equity and pre-IPO funds
- Beyond the capital cities: looking at emerging trends in the regions
- What does the government’s legislation programme mean for private equity investors?
- Accessing most lucrative opportunities in the medium-size market
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3.50pm | SPEED NETWORKING sponsored by REGIONGAZFINANCE Asset Management
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4.30pm | Afternoon refreshments and networking
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4.50pm | Roundtables: sector-focused interactive discussions
Table 1: soft commodities: buying into farmland
Table 2: growth of the retail and manufacturing sectors
Table 3: hi-tech and nanotechnology
Table 4: power generation and renewable energy
Table 5: healthcare system
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5.50pm | Chairman’s closing remarks
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6pm | Networking cocktail reception
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7.30pm | Gala dinner in support of OXFAM
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Day Two Wednesday 22 October 2008
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8.45am | Morning refreshments and networking
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9.10am | Chairman’s opening remarks
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| BEYOND RUSSIA: GAINING EXPOSURE TO THE MOST LUCRATIVE CIS MARKETS |
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9.20am | Special opening keynote address: Georgia - libertarian economic policies at work
- Analysis of Georgia's robust economic performance following the liberalisation and tax cuts of 2004-2007
- Turning Georgia into a regional trade and financial center and tax-efficient jurisdiction
- Key investable sectors
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9.50am | Opening keynote address: Ukraine's competitive advantages in the global marketplace
- How far is Ukraine from becoming a truly European state? What still needs to be done to speed up this process?
- Investor rights: the latest government initiatives and the status quo
- How likely is Ukraine to avoid the consumer credit crisis?
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10.10am | Advantages of investing in Central Asia’s capital markets
- Economic and investment climate in Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan and Turkmenistan
- New investment ideas: having China next door and energy resources abundance
- How much alpha can be generated through exposure to local capital markets?
- What returns can be expected in the next ten years?
- How does the region compare to similar markets around the world?
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10.30am | Panel session: snapshot of other regions with high investment potential: the Caspian, Ukraine and Georgia
- Investment climate and political risks
- Could these countries be the next tax paradise for foreign investors?
- Best ways to gain exposure with minimal risks
- Which industries to watch and what returns to expect?
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11.10am | Morning refreshments and networking
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11.30am | Comparing legal frame and investment climate within CIS countries
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| SEEKING ALPHA IN RUSSIA AND CIS |
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12pm | The evolution of Russian and CIS hedge funds
- Key trends in the region’s hedge fund market over the last year
- How different are Russian and CIS hedge funds to their global peers?
- How many single funds and fund of funds have been launched to date?
- Capital-raising environment for newcomers
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12.30pm | Case study: manager selection for emerging hedge funds in emerging markets
- Hedge fund life-cycle: case for emerging hedge funds
- Investment universe: where do emerging hedge funds fit in Emerging Markets?
- Investment process: sourcing, tracking emerging universe, analysis and fund selection, investment, monitoring, and re-allocation
- Mitigating “emerging” fund risks
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| | Mr Tushar Patel , Managing Director and Investment Manager, Hedge Funds Investment Management
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1pm | Networking lunch
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2pm | Panel session: practical guide to the Russian and CIS fund manager selection
- Conducting due diligence: main hurdles and solutions
- Pros and cons of selecting offshore and onshore funds
- What strategies work best in Russia & CIS?
- Taking a deeper look at the counterparties and their impact on the returns
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| | Mr Tushar Patel , Managing Director and Investment Manager, Hedge Funds Investment Management
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| BEATING THE BETA: KNOW YOUR OPTIONS |
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2.40pm | Portable alpha: desired by many, achieved by few
- Alpha returns generated by dynamic beta
- Case study 2006: a Eurohedge winner fund
- Alpha returns underpinned by fundamental value
- Case study 2007/2008:a 130/30 UCITS fund
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3.20pm | Afternoon refreshment and networking
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3.50pm | Panel session: debating advantages of gaining exposure to Russia and CIS via hedge funds
- Are the high fees and lack of liquidity really worth it?
- How clear and transparent is a tax framework for hedge funds in Russia and CIS
- The emergence of local ETFs: to what extend are they a good alternative for end investors?
- Applying quantitative strategies: esuring a high probability of meeting portfolio’s risk/return objectives
- A move towards specialised and hybrid funds
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| | Mr Johan Kretz, Senior Portfolio Strategist, Danske Capital Asset Management
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| REAL ESTATE AND INFRASTRUCTURE |
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4.10pm | Successfully including Russia and CIS into your real estate portfolio
- How protected is Russian and CIS real estate from the global credit crunch?
- Are Western pension funds finally ready to invest in Russian real estate?
- Examining different ways to gain exposure
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4.40pm | An introduction to investing in Russia and CIS infrastructure
- The current state of the market - is now the right time to be investing in Russian infrastructure?
- Accessing investment opportunities and maximising value
- The booming PPP industry in Russia: public-private partnerships in the transport sector
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5.10pm | Chairman’s closing remarks
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Special focus day Thursday 23 October
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| Investing in infrastructure assets in Russia and CIS |
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9am | Chairman’s opening remarks
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9.10am | Opening keynote address: investment appeal of the Russian and CIS infrastructure
- Investment needs and range for Russia and CIS infrastructure?
- Will the chronic economic and social need for new infrastructure override political change at the top?
- State initiatives to attract investors to infrastructure
- Public Private Partnerships – the wealth of new opportunities
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9.40am | Panel session: what attracts international investors to the Russian and CIS infrastructure?
- The motivation – why Russian & CIS infrastructure?
- What’s its impact it makes on the rest of your investment portfolio?
- What size allocation do investors anticipate? Will they come from or remain a part of their equity allocation?
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10.20am | Debating the myth of infrastructure as a protected asset in Russia and CIS
- Is there a limit to the market’s growth? Too much money chasing too few projects: myth or reality?
- How efficient is the concession structure?
- Questioning the practicality of long concession terms: too many restrictions and over/under regulation
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11am | Morning refreshments
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11.30am | The essential investor kit: getting involved in infrastructure projects in Russia and CIS
- Establishing a good working relationship with the local government
- Confronting corruption as a step to developing sustainable infrastructure projects
- Is finding a reliable local partner key to success?
- Investing in talent: where to find experienced people to manage your infrastructure assets?
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12pm | Panel session: which sectors promise the highest returns?
- Winning the battle on the environmental front: can Russia learn from the experience and mistakes of other countries?
- Comparing timelines and ROI in energy infrastructure, roads, rail, municipal utilities, social infrastructure and more
- Analysing available investment vehicles
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12.30pm | Networking lunch
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2pm | From theory to practice: understanding the practicalities of PPP projects
- Where is the government financing already in place?
- What are the main threats to funding?
- political instability and collapse in energy prices
- lack of the investor’s practical experience
- unresolved tax issues and insufficient legal framework for private investment in public utilities
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2.30pm | Understanding the regulatory and legal framework
- What do you need to know before entering the market?
- Looking into Public Private Partnerships and assessing main principles of cooperation
- The specifics of the Russian integrated investment projects in Russia
- Comparing a regulatory environment of CIS countries outside Russia
- Legal prerequisites for implementation
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3pm | Country case studies
- What projects are in the pipeline?
- Reviving St. Petersburg: the Orlovsky tunnel and the Western High-Speed Diameter toll motorway
- Euro 2012:opportunities in Ukraine’s infrastructure
- Sochi-2014: the next Monte-Carlo?
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4pm | Chairman's closing remarks
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4.10pm | End of conference
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Pre-conference workshops Monday 20 October
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| Morning workshop. IPO Academy for Russian & CIS companies |
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9am | Equity capital markets outlook – global, Emerging Markets, CIS
- Public offerings in the difficult market conditions
- Decoupling of Emerging Markets – will the trend continue?
- Outlook for CIS markets: public offering pipeline and investor interest
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10am | Specific choices in public offerings
- Alternatives of fundraising
- Deciding on a listing platform
- Selection of the right instrument – Ordinary Shares vs DRs
- Listing vehicles incorporation
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11am | Coffee break
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11.30am | IPO readiness assessment
- Key challenges of a floatation for CIS companies
- What investors are looking for
- Corporate governance considerations
- Management remuneration – current trends
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12.30pm | Case studies and Q&A session
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1pm | End of workshop
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| Afternoon workshop. Successful communication and fundraising strategies for Emerging Markets funds |
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2pm | Building up an effective fundraising structure
- Fund of funds selection process: what every fund manager should know?
- What returns are expected of the newcomers?
- Growing importance of co-investment fundraising
- Optimising successful fund closure
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3pm | Implementing effective communication strategies
- Ensuring proactive outreach and dialogue
- Broadening the reach of fund’s communications
- Using external interactive networking platform
- The role of the Executive Board
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4.30pm | Coffee break
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5pm | Brand management techniques for emerging funds
- Availability and accessibility of information cultivating media publicity
- The importance of reputation management
- Crisis communication management
- International communications: what works and what doesn’t
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5.30pm | End of workshop
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Lado Gurgenidze
