EuroHedge Summit 2012

Venue: Palais de la Bourse
Location: Paris
Dates: Tuesday, 24 April 2012 - Thursday, 26 April 2012

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*


Tuesday, 24 April 2012

17.30         

Wine & Cheese tasting reception
An informal and relaxed get together the evening before the main conference begins.  All delegates of the EuroHedge Summit are invited to taste a selection of French wines and a variety of regional cheeses.  The evening also gives you the opportunity to pick up your badge before the crowds on Wednesday morning!

 




Day One: Wednesday, 25 April 2012

 

08.00         

Doors open, registration and breakfast

 


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

 


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



10.45

Coffee break

 


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


 


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
12.45

Lunch

 


14.00

 

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


 


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


 

15.30

Coffee Break

 


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



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

 


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


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.

 




 

 

Day Two: Thursday, 26 April 2012

 

08.30         

Doors open, registration and breakfast 

 


09.00

Credit/distressed/event - The big opportunity?

The opportunity set in credit, event-driven and distressed investing around the world looks increasingly rich at a time of potentially huge financial, economic and corporate restructuring. But timing these types of strategies is never easy and this is not a normal business cycle. A diverse panel of credit, event and distressed managers will discuss the opportunities and challenges
 
Moderator: Nick Evans, EuroHedge

Speakers:
Dan Arbess, Perella Weinberg Partners
Patrick Brennan, Schroders NewFinance Capital 
Polina Kurdyavko, BlueBay Asset Management;
Andrew Meares, CapeView Capital;
Emmanuel Weyd, Eiffel Investment Group
 
 


10.00

Stream session I:
Emerging markets: Renminbi and other opportunities
The fast-moving development of the offshore renminbi market is arguably the biggest secular change in capital markets of the current era. A panel talk about the evolution of this market and how it will be changing the opportunity set for hedge funds.

Moderator: John Orchard, EuroWeek

Speakers:
Timothy Dingemans, Adelante Asset Management
Paul Gooding, HSBC
Andrew Seaman, Stratton Street Capital
Christopher Watson, Finisterre Capital

 


Stream session II:
Onshore and offshore: How will the hedge fund industry evolve?
The hedge fund industry began mostly as an investment business serving limited partners in the US and offshore companies for international allocators. But in an industry that was already becoming ever more institutional, the financial crisis has spurred the development of a lot more structures onshore – leaving many top firms now offering a panoply of offshore and onshore structures including QIFs and SIFs and UCITS-compliant versions. Where is all this heading? A panel discuss

Moderator: Greg Wojciechowski, Bermuda Stock Exchange

Speakers:
Brian Clavin, KPMG
Peter Hughes, Apex Fund Services
Richard Kobler, smn Investment Services 
Hilmi A Unver, Notz Stucki


10.45

Coffee Break


 
11.15

Stream session I:
Clearing of OTC derivatives – The issues for hedge funds

With regulatory changes post the financial crisis driving some fundamental changes to the operation of the over-the-counter derivatives market – and moving that OTC world towards central clearing – a panel will discuss the practical issues and challenges this raises for hedge funds.

Moderator: Neil Wilson, HedgeFund Intelligence

Speakers:
Suzanne Hubble, Citi
Alison King, Eurex Clearing
Patrick Trew, CQS
Spencer Woodward, BlueBay Asset Management 

Stream session II:
Start-ups, seeding and capital raising 
Capital-raising for hedge funds has never been harder - particularly for smaller firms and start-ups. But there is also more seed capital available than ever before and there is an increasingly broad array of ways in which funds can raise assets - through managed accounts, funds of one, strategic partnerships, seed deals, accelerator capital - and satisfy investors' need for liquidity, transparency and control. How is the investor base changing? And how is the capital-raising environment changing?

Moderator: Niki Natarajan, InvestHedge

Speakers:
Matteo Dante Perruccio, Hermes BPK
Rob Kirkwood, Carrhae Capital
Mikael Spangberg, SEB
Sanjay Tikku, KAUST


 
12.00

Strategy session: CTAs – What is the future(s)?
Prior to the financial crisis in 2008, managed futures accounted for less than 10% of assets in European hedge funds – that figure has since soared to well above 20%. With so much money now in managed futures, can CTAs still deliver the excellent non-correlated returns for which they are now so well known? And, if so, how? A panel of top managers discuss;
 
Moderator: James Skeggs, Newedge

Speakers:
Hans-Olov Bornemann, SEB Asset Management
Peter Hart, Valu-Trac Investment Management
Ali Nejjar, Solaise Capital Management
Karsten Schroeder, Amplitude Capital



 

12.45

Lunch


 
14.00

Keynote speaker
Guillaume Rambourg, Verrazzano Capital
Guillaume Rambourg is the founder and CIO of Verrazzano Capital, a fund management company set up in Paris last October. Guillaume will be responsible for the management of two European equity long/short funds, that will be launched in March 2012. Guillaume spent the first 15 years of his fund management career at Gartmore, where he co-managed the highly successful AlphaGen Capella and AlphaGen Tucana funds, alongside Roger Guy. He is a keen marathon runner. The Verrazano-Narrows Bridge, which marks the start of the New York marathon, was the inspiration for the firm's name.

Guillaume started running money in European Long / Short in 1999 as co-manager of the highly successful AlphaGen Capella. He will provide insights into how long/short investing in Europe has evolved through time, how Verrazzano exploits different market environments, what his outlook is for investing in Europe and the setting up of Verrazzano Capital.

Introduced by: Nick Evans, EuroHedge


14.45

Investors going direct: what are the lessons so far?
A second major panel session focusing on the changing hedge fund investor landscape will discuss the experiences of the growing number of end-investors that are going direct to hedge funds rather than using traditional intermediaries and look at the continued blurring of lines between consultants and funds of hedge fund groups that are increasingly offering advice on bespoke investor portfolios.

Moderator: Niki Natarajan, InvestHedge

Speakers:
Heinz Blennemann, Blennemann Family Investments
Chris Jones, bfinance
Stephen Oxley, PAAMCO
Ken Phillips, HedgeMark International
Larry Powell, Utah State Retirement Fund



15.30

Volatility and tail risk strategies
Markets have started 2012 in a far more positive vein than seemed possible in the dark days of the second half of 2011. But the potential for shocks remains high – at a geo-political, macro-economic and individual market/company level. For all investors, tail risk remains the big concern – and protecting against further big downside moves is a priority, in markets that are likely to remain highly volatile. What kinds of strategies are managers offering that can hedge against – or exploit – tail risk?

Moderator: Neil Wilson, HedgeFund Intelligence

Speakers:
Jerry Haworth, 36 South Advisors
Lee Robinson, Altana Wealth
Paul Sansome, Ferox Capital
Claire Smith, Albourne Partners

 


16.15

Close


 


 


*This programme is provisional and subject to change

 


 
If you would like to suggest a speaker or a topic for the Summit, please contact our event programmers:

Nick Evans - nevans@hedgefundintelligence.com

Neil Wilson - nwilson@hedgefundintelligence.com