Day 1: 20 October 2011

Day 1: 20 October 2011 »

Day 2: 21 October 2011 »

last modified: 14 October '11

INVESTMENT OPPORTUNITIES

9am

Introduction by Chair

› Mr Thomas R A Coughlin,

Chief Executive Officer, Australian Bullion Exchange Limited

9.10am

Presentation: The commodities mindset: removing the equities-tinted glasses

Understanding the supply and demand dynamics and the structure of the commodities market
What is the basis for commodity risk premia? Impact of the commodity futures curve
Which commodities are investible – what diversification benefits are available from commodity investing?

› Mr Chris Thompson,

Portfolio Manager, Alternative Assets, Advance

9.40am

Keynote Panel: Quantifying the diversification benefits and alpha potential of commodities investment

What do commodities provide for investors, which investors are they most appropriate for and who should avoid them?
Determine what institutional investors are looking for in a commodities exposure
Will commodities continue to display the uncorrelated, inflation-protected returns that they have previously?
Debate the key concerns investors have when incorporating commodities into their portfolio
What impact has increased long-only investment into commodities had on producers & prices?

› Mr Stewart Brentnall,

CIO, OnePath Australia

› Mr Graham Harman,

Director of Capital Market Research, Chair of the Asset Allocation Committee, Russell Investments

› Mr Craig Turnbull,

Chief Investment Officer, LGSS

› Mr Thomas R A Coughlin,
(Moderator)

Chief Executive Officer, Australian Bullion Exchange Limited

10.30am

Speed Networking

11am

Morning refreshments

THE MACRO VIEW

11.30am

Presentation: Managing total portfolio commodities and resources exposures for Australian investors

Deconstructing total exposures to commodities and resources - not enough, too much or just right?
Strategies for effectively diversifying commodities and resource exposure to protect capital and maintain returns
Commodity betas and their place in macro-economics - why it's misunderstood.
How should Australian institutional investors regard commodity risks given local equity bias, the AUD and liabilities of the end investor?

› Mr Tony Day,

Scarce Capital, Future Fund

12pm

Presentation: Determining the optimum exposure to commodities in your asset allocation

Integrating commodities into the existing asset allocation to maximize the benefits of commodities.
Implementing a commodities capability with staffing, integration into existing portfolios and establishing research and information networks
Developing solid risk management strategies to match your exposure
Successful case studies of how commodities contributed to a high-yielding portfolio

› Mr Graham Harman,

Director of Capital Market Research, Chair of the Asset Allocation Committee, Russell Investments

ASSET ALLOCATION

12.30pm

Networking lunch

1.30pm

Back to the Futures: empirical analysis on the rice-futures market in 18th century Japan

Examines the inventory and risk premium commodities pricing models and whether these are supported by the data from the Dojima exchange
Behavioural finance characteristics of rice futures traders
Looks at implications for the pending reintroduction of rice futures in the Japanese market

› Mr Katsunari Yamaguchi,

President, Ibbotson Associates Japan, Inc.

2pm

Presentation: Hedge Funds and Commodities – Current views and implementation

How do hedge funds view commodities
Learn which strategies hedge funds are using to capture commodities beta and trading strategies for gaining alpha
How should investors be approaching hedge funds under different commodity price scenarios
Assessing the quality of commodities funds in a volatile and changing market

› Judith Posnikoff,

Managing Director, Pacific Alternative Asset Management Company

PORTFOLIO PERFORMANCE

2.30pm

Afternoon refreshments

3pm

Panel: Choosing investment vehicles for commodities exposure

Examine the major factors driving an investor’s decision making process when investing in commodities
Are investment vehicles in the Australian and international markets improving the accessibility of commodities for investors?
Assessing managed funds on investor style, manager size, histories and other data
Can investors benefit from managers holding the physical commodity?

› Mr Michael Coop,

Head of Alternative Investments, Ibbotson

› Mr James Dick,

Portfolio Manager & Head of Research, QIC

› Mr Thomas R A Coughlin,
(Moderator)

Chief Executive Officer, Australian Bullion Exchange Limited

› Mr Chris Thompson,
(Moderator)

Portfolio Manager, Alternative Assets, Advance

3.40pm

Presentation: Active vs. passive management: constructing the best commodities portfolio

What investors are looking for from a commodities exposure
Assess the risks and opportunities of active commodity exposure vs. passive commodity investment
Reviewing the characteristics and returns from commodity exposures: roll yields, volatility, market timing etc
Is the existence or otherwise of long-term higher commodities prices relevant for investors?
Comparing different investment vehicles, including direct futures, counterparty swaps, managed funds, ETFs and hedge funds

› Mr James Dick,

Portfolio Manager & Head of Research, QIC

4.10pm