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08.00 |
Doors open, registration and breakfast
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09.00 |
Macro: where next in this crisis-stricken economic cycle?
2012 has so far seen a much brighter note returning to global markets after the gloom of 2011. But markets remain in the grip of macro and political events – in Europe, the US, China and elsewhere – and high levels of uncertainty remain about economic, financial and geo-political prospects. A panel of economists and managers will debate the big-picture outlook - and the upside and downside risks.
Moderator: Gavyn Davies, Fulcrum Asset Management
Speakers:
Jeffrey Brummette, Onewall Advisors
Charles Dumas, Lombard Street Research
Jens Nystedt, Moore Europe Capital Management
Sushil Wadhwani, Wadhwani Asset Management
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| 10.00 |
Hedge fund CEOs: dealing with a world full of challenges
Macro uncertainty, political interference, regulatory reform, mounting compliance and operational burdens, investor unease and counterparty risk are all adding to the challenges facing hedge fund CEOs as they steer their firms through these turbulent waters. How is the industry changing? What will be the next big opportunities and risks? A panel of top CEOs will tackle the big industry issues.
Moderator:
Robert Mirsky, KPMG
Speakers:
Barry Goodman, Millburn Ridgefield
Jonathan Lourie, Cheyne Capital Management
Emmanuel Roman, Man GLG
Sir Paul Ruddock, Lansdowne Partners
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| 10.45 |
Coffee break
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| 11.15 |
Are investors getting what they want from hedge funds?
Do investors know what they want from hedge funds? Do managers know what investors want? Are the investors getting it? How are their needs changing? How well are the interests of managers and investors really aligned? What most annoys, worries, pleases or excites investors? And what are the key developments and changes that they would most like to see in hedge funds in the near term?
Moderator:
Neil Wilson, HedgeFund Intelligence
Speakers:
Christopher Fawcett, Fauchier Partners
Nicola Meaden Grenham, Alpha Strategic
Niels Oostenbrug, Mn Services
Jim Vos, Aksia
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| 12.00 |
Keynote speaker
Persio Arida, BTG Pactual
Persio Arida is a managing partner and chairman of the asset management of BTG Pactual and a member of both Brazil and Global management committees. Prior to joining the bank, Persio worked in a variety of roles in the private and public sectors. He was governor of the Central Bank of Brazil, president of the National Economic and Social Development Bank (BNDES), director of the board of the Central Bank of Brazil and special secretary of social-economic coordination, ministry of planning, budget and management. In the private sector, Persio was a board member of Banco Itaú Holding Financeira SA, Banco Itaú SA and of Sul-América SA He was director of Opportunity Asset Management Ltd., board member of Unibanco SA and special adviser for the presidency and director of Brasil Warrant Ltd. Since the 1970s, he has also worked as an economic and financial consultant.
Persio will focus on two main themes: building a fast-growing entrepreneurial global business (in terms of culture, business model and risk management); and the opportunities and risks in today’s fast-changing global market for a growth business like BTG Pactual.
Introduced by: Nick Evans, EuroHedge
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| 12.45 |
Lunch
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14.00
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Transparency and hedge funds: Shifting standards to a new paradigm
A panel looks at how the industry is moving on from delayed reporting to active risk management & optimized portfolio construction, towards position level transparency against homogenous risk factors, and discusses the case for institutional investors: Does more transparency help increase asset allocation into hedge funds?
Moderator: Sophie van Straelen, Asterias
Speakers:
Nathanaël Benzaken, Lyxor Asset Management
Mark Geene, PGGM Investments
Jean-Pascal Porcherot, Lombard Odier
Larry Powell, Utah State Retirement Fund
Matt Roberts, Towers Watson
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| 14.45 |
Stream session I:
Business and counterparty risk: What’s the latest thinking?
In the financial crisis of 2008, following the collapse of Lehman Brothers the issue of counterparty risk soared to the top of the agenda for hedge funds. It then seemed to wane in importance during the following recovery – at least until the threat of contagion from the eurozone sovereign debt crisis started to rise again. Where does this leave the current best practice on this issue for hedge funds? A panel debate.
Moderator: Marina Lewin, BNY Mellon Alternative Investment Services
Speakers:
Malcolm Butler, Comac Capital
Heath Davies, Signet Capital Management
Pat Trew, CQS
Simon White, Man Group
Stream session II:
Commodities and energy: Potential for shocks?
Investor demand for exposure to commodities is growing apace, with new types of commodity and energy-related strategies starting to broaden the ways that investors can access this increasingly important asset class. But there is also a growing view that commodity and energy markets could also have the potential for big shocks - with the rising oil price being one major concern. A panel will looks at the opportunities and risks for investors in commodity and energy strategies.
Moderator: Ian Morley, Allenbridge Epic and Wentworth Hall Consultancy
Speakers:
Peter Brewer, PCE Investors / Cumulus
Brad George, Investec Asset Management
Anuraag Shah, Tusker Capital
David Yarrow, Clareville Capital
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| 15.30 |
Coffee Break
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| 16.00 |
Stream session I:
Equity market neutral and quant strategies
While 2011 was a tough year for hedge funds in general, the equity market neutral and quant space was generally up again, with some funds delivering exceptional returns. A panel of managers talk about their approaches, and what makes them work.
Moderator: Otto Francke, SEB
Speakers:
Sven Bakker, Saemor Capital
Inigo Lecubarri, Abaco
Stefan Nydahl, Brummer & Partners/Archipel Asset Management
Lawrence Staden, GLC
Stream session II: **This session will be held in French**
Quel avenir pour la gestion alternative en France ?
En pleine crise de la dette, face à l’arrivée prochaine des directives AIFM ou Solvabilité II, et après une année 2011 mitigée en termes de performance, la gestion alternative doit convaincre de sa capacité de rebond et d’adaptation. Plus que jamais en recherche d’alpha et de décorrélation, soumis à de fortes contraintes réglementaires, quelles solutions d’investissement pour la place de Paris (plateformes de comptes gérés, UCITS, fonds AIFM)? Quid du mouvement d’onshorisation ? Quelles stratégies privilégiées ?
What does the future hold for the alternative asset management in France? In the face of the European sovereign debt crisis and the arrival of the new AIFM and Solvency II regulations, the industry has to demonstrate its capacity to rebound and adapt, following a year of mixed performance. While seeking strategies to decorrelate and generate alpha, how should French investors confront these new regulatory regimes? What investment solutions are available specifically for Paris? How will efforts to onshore funds change the playing field? What will be the best strategies to move forward?
Moderator: Jerome Sutour, CMS Bureau Francis Lefebvre
Speakers:
Laurence Boursican, Conatus Finance
Sylvie Dehove, Amundi Alternative Investments
David Lenfant, Laffitte Capital Management
Francois Marbeck, La Banque Postale
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| 16.45 |
Regulation: the good, the bad and the downright stupid
The financial services world is facing a tidal wave of new regulation in the aftermath of the crisis – and hedge funds are no exception. The list of new and proposed global regulations is lengthening all the time – and the consequences (whether intended or unintended) for all managers, investors and counterparties could be deep and far-reaching. What is the purpose and where it is all leading to?
Moderator: Nick Evans, EuroHedge
Speakers:
Andrew Baker, AIMA
Darcy Bradbury, The D. E. Shaw Group/MFA
Martin Cornish, K&L Gates
Thomas Deinet, Hedge Fund Standards Board
Leonard Ng, Sidley Austin
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| 17.30 |
Keynote speaker
Kyle Bass, Hayman Capital Management
Kyle Bass is the principal of Hayman Capital Management LP. Hayman Capital Management serves as the investment manager to the Hayman Capital Master Fund, LP and Japan Macro Opportunities Master Fund, LP. Kyle is a member of the board of directors of The University of Texas Investment Management Company. He is a founding member of the Serengeti Asset Management Advisory Board and serves on the board of directors of the Troops First Foundation, Business Executives for National Security, and Texas Ranger Association Foundation. Kyle has testified as an expert witness before the US House of Representatives, US Senate and Financial Crisis Inquiry Commission.
Kyle is expected to speak on best opportunity for new capital and biggest risk for all capital.
Introduced by: Josh Friedlander, AR
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| 18.15 |
Cocktail reception
All delegates are invited to the official Summit cocktail party held at the end of the first day of the conference. Enjoy an evening of discussion and debate after the first day of conference sessions and keynote speeches.
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