Allan Greenblo, Founder and Editorial Director, Today’s
Trustee and Former Managing Director, BDFM (Business Day
& Financial Mail) and Co-founder, Former Director and Editor,
Finance Week, South Africa

• Impact of the global economy
• Balance of payments and the Rand
• Inflation, monetary policy and interest rates
• Short and long-term growth prospects

Rudolf Gouws, Chief Economist
Rand Merchant Bank Limited, South Africa

• The case for active asset allocation within multi-asset class
  portfolios
• Integration versus specialisation in optimising the risk-return
  trade-off

Peter Brooke, Head, Macro Strategy Boutique
OMIGSA, South Africa

This is your turn to un-conference your conference experience!
Personalise your learning by telling us the top 5 concerns that
keep you awake at night – and nominate, from all the speakers
and delegates present, who would give you the best answers!
We will aggregate everyone’s votes – and announce the topics
and speakers for tomorrow’s U-Turn Discussion.

• Current economic trends in global and emerging markets
• Market developments: volatility, inflation rate, interest rate
  and exchange rate changes – impact on asset allocation
  choices, global investor and investment manager
• Asset allocation in an economic slowdown
• The US sub-prime market problems: post mortem
• Global trends in asset allocation and drivers for future change
• Future outlook and strategies going forward

Jim O’Neill, Head of Global Economic Research
Goldman Sachs, United Kingdom (via video conference)

• South Africa versus global markets
• Implications for asset allocation strategies and diversification
• Accessing risks, rewards and opportunities
• Challenges in identifying the best performing asset classes
• Prospects and future growth – where can we go from here?

Moderator
Vimal Chagan, Chief Operating Officer
Advantage Asset Management, South Africa
Panelists
Francois van Wyk, Chief Investment Officer
Cadiz African Harvest Asset Management, South Africa
Tshepo Ntsimane, Chief Executive Officer
Legae Securities, South Africa
Peter Brooke, Head, Group Macro Strategy
OMIGSA, South Africa
Rowan Williams-Short, Chief Investment Officer
Orthogonal Investments, South Africa

• The Government Employees Pension Fund (GEPF) and its
  mandate in the economic landscape in South Africa
• From passive shareholding to active shareholding
• United Nations principles on responsible investing
• Giving real and meaningful effect to socially responsible
  investing
• Managing the dichotomy between profits and sustainability

Martin Kuscus, Chairman – Board of Trustees, Government
Employees Pension Fund (GEPF) and Chief Executive Officer,
South African Bureau of Standards (SABS) and Council
Member, International Standards Organisation (ISO)

• Investment policy and strategy – basis for investors’ decisionmaking
• Trustee duties and challenges regarding asset allocation
• How to ensure that institutional funds are well managed
• How can fund managers respond to the investor preferences
  and demands?
• Factoring in the investment environment and stakeholder
  needs
• Traditional assets versus alternative investments – is it time
  to go back to the basics?

Moderator
John Liackman, Chairman of the Joint Investment
Committees, Mine Employees Pension Fund, Sentinel Mining
Industry Retirement Fund, Mineworkers Provident Fund and
other Mining Industry Retirement Funds, South Africa
Panelists
Martin Kuscus, Chairman – Board of Trustees, Government
Employees Pension Fund (GEPF) and Chief Executive Officer,
South African Bureau of Standards (SABS) and Council
Member, International Standards Organisation (ISO)
William Donovan, Director – Investment and Treasury
Partners HealthCare Inc, United States of America
Willem Myburgh, Principal Officer, Telkom Retirement Fund,
Telkom Pension Fund, Telkom Management Provident Fund
and Trustee, Telemed Board of Trustees, Telemed Pension
Fund and Telemed Provident Fund, South Africa
Ian Smith, Investment Committee Member, Transnet
Retirement Fund and Former Chief Executive Officer, Transnet
Pension Fund Administrators (a division of Transnet Ltd)
and Executive Director, Metropolitan Retirement
Administrators (Pty) Ltd, South Africa

• Retirement fund reform – status and progress
• The National Pension Scheme and impact on asset allocation
• The change from DB to DC and implications for asset
  allocation
• Life staging, member choice, umbrella arrangements and
  asset allocation
• Implications for the investment managers and the institutional
  investor

Moderator:
Rowan Burger, Head – Consulting Strategy
Alexander Forbes Financial Services, South Africa
Panelists:
Elias Masilela, Chief Strategist – Financial Sector Developments
Sanlam, South Africa
David O’Brien, Head – Retirement Reform
Old Mutual, South Africa

• Objectives-based risk budgeting as the key determinant of
  strategic investment decisions
• What’s involved in a total risk budgeting process?
• Analysing total portfolio for risk and return drivers
• Alpha and beta: separate risk from returns
• A coherent total risk monitoring framework

Jarred Glansbeek, Chief Executive Officer
RisCura, South Africa

• SAA and TAA in a volatile market
• Can active asset allocation really add value?
• New developments and new methods in SAA
• What lies between strategic and tactical asset allocation?
• The emergency of dynamic SAA
• SAA trends around the world: key drivers
• Do SA funds need SAA or TAA? Or mix and match for best
  results?

Kirshni Totaram, Head – Institutional Business
Coronation Fund Managers, South Africa

• Value from TAA in the institutional market
• A framework for TAA
• How to benefit from TAA in the current volatile environment
• Valuation of South African asset classes

Graham Mason, Chief Executive Officer
Prudential Portfolio Managers, South Africa

• LDI trends around the world: key drivers
• Common misconceptions and the overlap with active asset
  allocation
• Elements of the process, optimal asset allocation and
  governance
• Identifying various investment risks – interest rate, inflation,
  currency, liquidity, re-investment and market risks
• Alpha versus beta
• Implications for pension funds

Moderator
Brandon Quinn, Portfolio Manager – Liability Driven and Hybrid
Investments, Metropolitan Asset Managers, South Africa
Panelists
Mehluli Ncube, Chief Executive Officer
Applied Risk Consulting, South Africa
Kirshni Totaram, Head – Institutional Business
Coronation Fund Managers, South Africa

Paul Plaatjies, Operations Director, Today’s Trustee and
Independent Trustee, Transnet (Astuence) Umbrella Fund and
Former Principal Officer, Sasol and AECI Retirement Funds,
South Africa

• Which risks to hedge, which risks to take
• The impact of swaps on risk management and asset liability
  modelling
• Approaches to constructing a growth portfolio
• The importance of managing risk through time

Hugh Cutler, Managing Director, Co-Head, Strategic Solutions
Group, Barclays Global Investors, United Kingdom

• Asset allocation strategies
• Capital asset allocation
• Asset allocation based on market exposures
• Beta based allocation
• Hedge fund allocation caps / fund limits criteria

William Donovan, Director – Investment and Treasury
Partners HealthCare Inc, United States of America

• Have traditional assets performed in line with investor
  expectations?
• The challenge of incorporating alternative assets: do they add
  value?
   Private equity, hedge funds, fund-of-funds, unit trusts and
  ETFs
   Commodities, currencies and derivatives
   International investing – offshore and emerging markets
   CDOs and other securitised assets
   Natural resource equities, distressed debt and country
  funds
• Feedback time: have the fund managers delivered in
  performance terms? How about multi-managers, advisors and
  consultants?

Moderator
William Donovan, Director – Investment and Treasury
Partners HealthCare Inc, United States of America
Panelists
Nicolette Erasmus, Trustee, Mine Employees Pension Fund,
Sentinel Mining Industry Retirement Fund, Mineworkers
Provident Fund and other Mining Industry Retirement Funds
and Legal Department, Chamber of Mines of South Africa
Dennis Hurrell, Trustee and Chairman, Investment Committe
Telkom Retirement Fund, South Africa
Paul Plaatjies, Operations Director, Today’s Trustee and
Independent Trustee, Transnet (Astuence) Umbrella Fund and
Former Principal Officer, Sasol and AECI Retirement Funds,
South Africa

You have voted for these topics! Your chosen speakers will
now offer you real-time, spontaneous solutions and
commentary on the issues that keep you awake at night.
Bring your questions to this discussion.

• New approaches to traditional asset allocation
• How much focus should you put on innovation?
• What are the barriers to innovation in practice?
• The convergence between traditional and alternative asset
  management
• Potential conflicts of managing alternative alongside
  traditional portfolios

Patrick Mamathuba, Chief Investment Officer
STANLIB, South Africa

• Can the South African market sustain volumes and returns?
• Domestic versus international considerations
• Gaining exposure to new sectors and regions

Piet Viljoen, Fund Manager
Regarding Capital Management, South Africa

• Hybrid instruments – a debt-equity continuum
• A brief overview of types and uses of hybrid instruments
• International issuance picture
• South African market: regulatory issues and issuance trends
• Investor considerations

Dr Vladimir Nedeljkovic
Head: ETFs and Index Products
Absa Capital

• The latest research into analysing the quality of alpha
• Understanding where returns come from and what the right
  benchmark is
• Why we need to separate alpha and beta
• Portable alpha versus portable beta examples
• Why alpha alone is not going to save us
• The latest on hedge-fund replication
• New-age, top-down active building blocks
• Why TAA and SAA are going to grow relative to stock-picking
  strategies

Roland Rousseau, Director, Quantitative Investment Strategy
and Portfolio Construction, Deutsche Bank, South Africa

• Overview and status of alternatives in South Africa: Real
  estate, private equity, hedge funds, FoF, unit trusts, ETFs,
  currencies (the futures market and carry-trade), derivatives
  and offshore investing (leading and emerging markets)
• How do you incorporate typical risk-return and liquidity
  characteristics?
• Alternative investment managers, costs and benchmarks
• What's in it for institutional investors?
• What will alternative assets and asset allocation be like in
  5 to 10 years?

Moderator
Andrew Davison, Head – Institutional Consulting
ACSIS Limited, South Africa
Panelists
Charles Snyman, Chief Investment Officer
Efficient Group, South Africa
Patrick Mamathuba, Chief Investment Officer
STANLIB, South Africa

• Choosing best investment managers: boutiques versus
  traditional houses
• Factors to consider in manager selection: past performance,
  consistency, track record, infrastructure, flexibility, prowess,
  fees, BEE and more
• How to best utilise diversification to reduce asset, sector,
  market and manager specific risks to optimise risk-adjusted
  returns

Meyer Coetzee, Head – Product Development and Portfolio
Management, SYmmETRY Multi-Manager

• Capitalising on absolute return and guaranteed investing to
  protect capital and maximise risk adjusted-returns
• Supply, demand, performance and fees of strategies
• Managing downside risk while cashing in on the upside with
  derivatives in guaranteed and absolute investing
• Using structured products to provide institutional investors
  with new sources of risk-managed returns

Panelists:
Andrew Wolfson, Head of Investment Products
Cadiz Wealth Management, South Africa
Steven Mills, Head of Absolute Return
Sanlam Investment Management, South Africa
Meyer Coetzee, Head – Product Development and Portfolio
Management, SYmmETRY Multi-Manage