EuroHedge Summit 2010

Venue: Palais de la Bourse
Location: Paris
Dates: Wednesday, 21 April 2010 - Thursday, 22 April 2010

Held in Paris every Spring, the EuroHedge Summit is a major hedge fund event which attracts the industry's elite from around the globe. The event offers incisive and topical content about hedge fund strategies and addresses the overall outlook for the hedge fund industry and financial markets, as well as the opportunities, challenges and risks across a range of investment strategies.


 

PROGRAMME CHANGES – EUROHEDGE SUMMIT 2010

CORRECT AT TIME OF GOING TO PRESS – TUESDAY 4PM GMT

The majority of our speakers have been unaffected by the ongoing travel restrictions throughout Europe.  However there are some who have had difficulty. Many are still attempting travel, but some have let us know that their attendance is impossible. The programme remains largely unchanged and we are replacing speakers where possible.  The below is correct at the time of going to press – 4pm Tuesday 20th April.

Tuesday20 April 2010


17.30 -19.30                            


Drinks reception
Pre conference wine tasting reception at the Palais de la Bourse.


 

Wednesday 21 April 2010

08.00 - 09.00

Doors open, registration and breakfast


09.00 - 09.15

Introduction


09.15 - 10.00

Macro – Where next on the rollercoaster?

** THIS SESSION WILL NOW BECOME A KEYNOTE SPEECH FROM GAVYN DAVIES OF FULCRUM ASSET MANAGEMENT DUE TO CONTINUING UNCERTAINTY OVER THE ABILITY OF PANELLISTS TO FLY TO PARIS FROM THE U.S.  **


10.00 - 10.45

Investors – Back in love with hedge funds?
The ravages of the financial crisis appeared to do at least one good thing for investors – at least for a while, it gave them more bargaining power with hedge funds. But has this extra power translated into an industry that is now more investor-friendly and run with better practices? And what are investor views of the best opportunities going forward?

Speakers:

  • Alexandre Col, Banque Privée Edmond de Rothschild [NO CHANGE]
  • Mike Powell, USS [NO CHANGE]
  • Kevin Gundle, Aurum Fund Management [NO CHANGE]
  • Jarkko Matilainen, Varma Mutual Pension Insurance Company [UNABLE TO TRAVEL]

Moderator: Jon Mills, KPMG [NO CHANGE]


10.45 - 11.15

Coffee Break


11.15 - 12.00

Hedge fund CEOs – Ingredients for success in today's market
While many hedge funds struggled during the financial crisis, there were also many that coped admirably well. But since net inflows have started coming back, the lion’s share has gone to big brand names. Is the industry set to become ever more corporate and ‘institutional’? Will there still be a place for the entrepreneurial boutiques? And what other challenges and opportunities does the industry face as a result of the crisis?

Speakers:

  • Caroline Hoare, GLC [NO CHANGE]
  • Paul Marshall, Marshall Wace [NO CHANGE]
  • John Webster, Altima Partners [NEW ADDITION]
  • Malcolm Butler, COMAC Capital [NEW ADDITION. ATTEMPTING TRAVEL]
  • Paul Ruddock, Lansdowne Partners [UNABLE TO TRAVEL]
  • Douglas Shaw, BlackRock [UNABLE TO TRAVEL]

Moderator: Nick Roe, Citi [NO CHANGE]


12.00 - 12.45

Keynote speaker: Leda Braga, BlueCrest Capital Management

Introduced by: David Wertz, Credit Suisse [REPLACING PATRICK FLAHERTY OF CREDIT SUISSE]


12.45 - 14.00

Lunch


14.00 - 14.45

Keynote speaker: Aziz Nahas, 1798 Global Partners ** SATELLITE LINK NOW IN PERSON! **

Introduced by: Nick Evans, EuroHedge [NO CHANGE]


14.45 - 15.30

Stream Sessions


14.45 - 15.30

STREAM I: The crisis has changed hedge funds for good

A panel of leading investors discuss the latest research findings on what it is that investors are wanting now from hedge funds – such as onshore UCITS versions and/or managed accounts – and how much further these trends will go?

Speakers include:

  • Eric Bissonnier, EIM [NO CHANGE]
  • John Godden, MAG Consultants [NEW ADDITION]
  • Peter Harrison, RWC Partners [NO CHANGE]
  • Dr Bernhard Steege, Albourne Partners [NO CHANGE]

Moderator: Deborah Thompson, Deutsche Bank [REPLACING SEAN CAPSTICK OF DEUTSCHE BANK]


STREAM II: New opportunities in catalyst and event-related strategies
A panel of leading managers talk about their different approaches in the current market, post the credit crunch and financial crisis, to the changing shape of corporate Europe.

Speakers:

  • David Hoey, ABC Arbitrage Asset Management [NO CHANGE]
  • Fredrik Juntti, Montrica Investment Management [NO CHANGE]
  • Lee Robinson, Trafalgar Asset Managers [NO CHANGE]
  • Tom Sandell, Sandell Asset Management [NO CHANGE]

Moderator: Attila Olesen, SEB Merchant Banking [REPLACING MIKAEL SPANGBERG OF SEB MERCHANT BANKING]


15.30 - 16.15

STREAM I : Meeting investor requirements: What’s state of the art in reporting, transparency and disclosure?
Following the financial crisis and the huge Madoff fraud, investors have significantly stepped up their due diligence efforts and the information they require from managers. A panel of speakers from leading allocators and management firms discuss how far standards have moved on as the industry has recovered in the past year and outlook ahead.

Speakers:

  • Stan Chaudhry, Thames River Capital [NO CHANGE]
  • Christopher Fawcett, Fauchier Partners [UNABLE TO TRAVEL]
  • Berouz Fatemi, Credit Suisse [NEW ADDITION]
  • Patrick Fenal, Unigestion [NO CHANGE]
  • Sven Lidén, Man Investments [NO CHANGE]

Moderator: David Aldrich, BNY Mellon [REPLACING BRIAN RUANE OF BNY MELLON AIS]


STREAM II: Commodities

Investor interest in commodities is increasing fast, with managers now able to provide access to a growing range of strategies targeting all the various sectors of the commodities markets. A panel of managers and investors will look at the big-picture outlook for commodities, trends in institutional investor asset allocation to the asset class and some individual strategies that managers are deploying in different areas of the commodity markets.

Speakers inlcude:

  • Paul Netherwood, Beach Horizon [NO CHANGE]
  • Colin O'Shea, Hermes [NO CHANGE]
  • Christiaen van Lanschot, VOC Capital Management [NO CHANGE]
  • Markus Weigl, Superfund Consulting [UNABLE TO TRAVEL]

Moderator: José Santamaria, RBC Dexia Investor Services [NO CHANGE]


16.15 - 16.45

Coffee Break


16.45 - 17.30

STREAM I: The rise and rise of managed accounts
What strategies are most appropriate? Why are managers more interested than before? Is there a choice between managed accounts and UCITS III – or should managers and investors be looking at both? How much transparency is needed – is there a limit?

Speakers:

  • Alain Dubois, Lyxor Asset Management [REPLACING NATHANAEL BENZAKEN OF LYXOR ASSET MANAGEMENT]
  • Diego Fluxa, Rothschild & Cie [NO CHANGE]
  • Borja Largo, Allfunds Alternative [UNABLE TO TRAVEL]

    § 

  • Martin Phipps, Gartmore [NO CHANGE]
  • Tom Sargeant, Tudor Group [UNABLE TO TRAVEL]

Moderator: Niki Natarajan, InvestHedge [REPLACING SUSAN BARRETO OF INVESTHEDGE]


STREAM II: Using the lessons learned from Lehman: Building trust and transparency into prime brokerage models
The collapse of Lehman Brothers highlighted the issue of counterparty risk as never before, leading to the development of new prime brokerage models. Experts discuss the lessons of Lehman, the pros and cons of these models and the practical issues they raise on matters such as custodianship and valuation.

Speakers include:

  • Stephen Foster, Credit Suisse Alternative Investments [NO CHANGE]
  • Darren Ketteringham, PricewaterhouseCoopers [NO CHANGE]

Moderator: Neil Wilson, HedgeFund Intelligence [NO CHANGE]


17.30 - 18.15

STREAM I: UCITS III: At the centre of hedge fund and mainstream convergence

The growth of UCITS III hedge fund strategies has already become much more than just the replicating of offshore funds in an onshore format, but a whole new segment of the asset management world – with powerful forces from the regulatory environment to the need for new distribution channels continuing to drive it forward. A panel of leading players discuss not just why but how it will grow further.

Speakers:

  • Elena Ambrosiadou, IKOS [NO CHANGE]
  • Michele Gesualdi, Kairos Group [NO CHANGE]
  • Eric Le Coz, Carmignac Gestion [NO CHANGE]
  • Richard Pettifer, KPMG [NO CHANGE]

Moderator: Eric Personne, Bank of America - Merrill Lynch [NO CHANGE]


STREAM II: How can funds of funds enhance their asset allocation by using managed accounts?
Post the financial crisis, debate surrounding the fund of funds business has moved on – from the question of whether they can survive, to what is the best model for them to do so in future?

Speakers include:

  • Guido Bolliger, Olympia Capital Management [NO CHANGE]
  • Andre Havas, Optimized Portfolio Management [UNABLE TO TRAVEL]
  • Nicolas Hirsch, Amundi Hedge [NO CHANGE]

Moderator: Niki Natarajan, Investhedge [NO CHANGE]


18.15 - 20.00

Cocktail reception


 

Thursday 22 April 2010

 

08.30 - 09.15

Doors open and breakfast


09.15 - 10.00

Emerging markets – Can they really drive the global economy?
Emerging market equities got pummelled in the financial crisis in 2008 but then came back strongly in 2009, while emerging market debt and currencies came through the whole period relatively unscathed. Where next for these increasingly important asset classes? How best to trade and invest in them?

Speakers:

  • Jamil Baz, GLG [NO CHANGE]
  • Paul Crean, Finisterre [NO CHANGE]
  • Michel Danechi, Armajaro Asset Management [NO CHANGE]
  • Lars Dollmann, Adelphi Capital [NO CHANGE]
  • Sudeep Singh, Matrix-Redux [NEW ADDITION]

Moderator: Nick Evans, EuroHedge [NO CHANGE]


10.00 - 10.45

Event-driven and arbitrage – The best way to invest in 2010?
Event-driven and arbitrage strategies are back on investors’ radar screens in a big way after a long period out of favour. With the massive reduction in risk capital and bank prop trading, the competition is much diminished at a time of high and growing opportunity. A panel of seasoned event-driven and other arbitrageurs will look at the prospects.

Speakers:

  • Tony Chedraoui, Tyrus Capital [NO CHANGE]
  • Randel Freeman, Centaurus Capital [NO CHANGE]
  • Georges Gedeon, Mereor Investment Management and Advisory [NO CHANGE]
  • Michael Humphries, Polygon CB Partners [UNABLE TO TRAVEL]

Moderator: Simon Parrott, J.P. Morgan Cazenove [NO CHANGE]


10.45 - 11.15

Coffee break


11.15 - 12.00

Equity strategies – Beyond leveraged beta?
While equity long/short managers had to be heavily short to succeed in 2008, they then had to be heavily net long in 2009. What will it take to succeed in 2010? While value-based strategies have been shown to work over time, in the short term is a more opportunistic approach needed?

Speakers:

  • Paul Casson, Henderson Global Investors [UNABLE TO TRAVEL]
  • Theron de Ris, Eschler Asset Management [NEW ADDITION]
  • Magnus Spence, Dalton Strategic Partnership [REPLACING LEONARD CHARLTON FROM DALTON STRATEGIC PARTNERSHIPS]
  • Russell Clark, Horseman Capital Management [NO CHANGE]
  • Ton Tjia, Ratio Asset Management

Moderator: Nick Evans, EuroHedge [NO CHANGE]


12.00 - 12.45

Keynote speaker: Joseph Oughourlian, Amber Capital  [ATTEMPTING TO TRAVEL, FURTHER ANNOUNCEMENTS WILL BE MADE LATER]

 


Introduced by: Neil Wilson, HedgeFund Intelligence
12.45 - 14.00 Lunch
14.00 - 14.45

Quant – Crossing the credibility gap
Systematic strategies such as those run by trend-following CTAs were the heroes of the crisis, though most went on to be the ‘zeroes’ of the recovery in 2009. But the best of breed at least appear to have crossed the credibility gap among investors – proving both non-correlation and absolute returns over the cycle. How will they evolve going forward?

Speakers:

  • Stanley Fink, International Standard Asset Management [NO CHANGE]
  • Zbigniew Hermaszewski, Altis Partners [UNABLE TO TRAVEL]
  • Melissa Hill, Sabre Fund Management [NO CHANGE]
  • Karsten Schroeder, Amplitude Capital [NO CHANGE]
  • Michel Boiron, Numbers SA [NEW ADDITION]

Moderator: Duncan Crawford, Newedge [NO CHANGE]


14.45 - 15.30

Credit – Still good times ahead?
A
 year ago, panellists were predicting – rightly as it turned out – that bombed-out credit markets were ripe for a rally, with particularly good opportunities in the distressed arena. But what is in the crystal ball for the year ahead? A group of highly experienced credit and distressed managers will debate the opportunities and risks.

Speakers:

  • Mark Benson, Ravenscourt Capital Partners [NO CHANGE]
  • GJ Koomen, Sothic Capital Management [NO CHANGE]
  • Alistair Lumsden, CQS [NO CHANGE]
  • Simon Thorp, Liontrust Investment Services [NO CHANGE]

Moderator: Patrick Brennan, NewFinance Capital [NO CHANGE]


15.30 - 16.15

The future of the industry

After coming through the credit crisis battered and bruised, but having for the most part survived pretty well, hedge funds are still facing a host of challenges for the future – including not least a new regulatory regime in Europe under the proposed Alternative Investment Fund Managers (AIFM) Directive. A panel discuss the state of play on the Directive and the many other challenges facing the industry more broadly.

Speakers:

  • Andrew Baker, Alternative Investment Management Association [UNABLE TO TRAVEL]
  • Christen Thomsen, Alternative Investment Management Association [REPLACING ANDREW BAKER]
  • Cyril Julliard, Europanel Research and Alternative Asset Management [NO CHANGE]
  • Ian Morley, Allenbridge Hedge [NO CHANGE]
  • Paul Govier ,Maples & Calder [NEW ADDITION]
  • Martin Cornish, Katten Muchin Rosenman Cornish [UNABLE TO TRAVEL]

Moderator: Neil Wilson, HedgeFund Intelligence [NO CHANGE]


16.15 Close

 

This programme is provisional and subject to change.

 

Programmers

Our events are known for their strong content, which unlike many other industry conferences is put together by editors who are closely linked to the industry.  The experienced and dedicated journalists of EuroHedge ensure that the Summit covers only the most important industry issues.

 

 

Neil Wilson – editorial director, HedgeFund Intelligence
Neil has over 20 years of experience as a financial journalist. He has overall responsibility for the editorial content of EuroHedge, AsiaHedge, InvestHedge, and AR: Absolute Return + Alpha, as well as their associated online weekly news services, special reports and events.


 

Nick Evans, editor, EuroHedge
Nick has been a financial journalist since 1987, covering capital markets, investment banking and asset management. For 12 years he was editor of EuroWeek. He was also editor-at-large of Euromoney magazine and editor of Global Agenda, the magazine of the World Economic Forum in Davos.