Bermuda To Host Major Hedge Fund Summit
Bermuda will be hosting the Institutional Investor/Alpha Hedge’s 18th Annual Global Hedge Fund Summit from April 15-17, a major gathering of local and international industry leaders.
Being held at the Fairmont Southampton Hotel, sessions at the Global Hedge Fund Summit will allow investors to dive deeply into today’s most critical portfolio issues.
“The rules of successful investing have been rewritten in recent years as investors continue to respond to widespread uncertainty and once-in-a-hundred year Black Swan events that seem to come one right after the other,” said a conference spokesman. “Yet within this context of uncertainty and risk there is opportunity, and institutional investors must remain focused on dynamic, effective asset allocation and portfolio construction strategies.
“The Bermuda summit will provide a comprehensive examination of the vital issues that investors must understand in order to preserve capital, manage their liabilities, and properly assess the investment opportunities in this, our new economic and financial reality.”
Among the topics which will be addressed are:
- Preserving capital: How can portfolio managers first do no harm? What is the forecast for inflation/deflation and the other macroeconomic factors that can potentially gut a portfolio?
- Managing liabilities: Which strategies will be most effective in delivering the necessary risk-adjusted returns? What asset allocation is optimal in the current volatile environment?
- Assessing the opportunities: With every crisis comes opportunity. Which strategies are best for investors to achieve alpha without sacrificing the holy grail of liquidity? Which managers are likeliest to provide that alpha?
Over the course of the summit’s programme, investors, managers, and those who provide services to them will hear from a variety of outside experts as well as their peers who will share their knowledge, experience, and expertise about investing successfully.
Through panel discussions, keynote addresses, presentations and workshops, the summit will assist institutional investors seeking to construct a well-diversified, effective portfolio and to improve their understanding of the varied opportunities available globally.
Institutional Investor/Alpha Hedge’s 18th Annual Global Hedge Fund Summit will feature:
- 100+ High profile speakers including expert keynotes, panel discussions from out-performing funds and leading allocators
- 30+ sessions offer insight into the strategies, markets, sectors, policies and regulatory regimes on which funds depens
- 16+ hours of dedicated networking activities including cocktail receptions, lunches, breaks, breakfasts, golf and tennis tournaments and a sailing excursion
- 500+ industry kaders attend this event each year
- 75+ investors discussing how they will be allocating capital in the year ahead
Keynote speakers are David Villa, Chief Investment Officer, State of Wisconsin Investment Board; Lee Partridge, Chief Investment Officer, Salient Partners; and Sebastian Mallaby, Director of the Maurice R. Greenberg Centre for Geoeconomic Studies and Paul A. Volcker Senior Fellow for International Economics and author of “More Money Than God: Hedge Funds and the Making of a New Elite.”
The full conference agenda appears below:
SUNDAY, APRIL 15, 2012
8:00 a.m. Golf Tournament at Port Royal Golf Course
12:00 p.m. Glass Bottom Boat Tour
1:00 p.m. Bermuda Scenic Island Tour
4:00 p.m. Registration Opens
Poinciana Foyer6:00 p.m. Welcome Reception Poolside
Southampton PoolMONDAY, APRIL 16, 2012
7:45 a.m. Registration & Breakfast
Poinciana Foyer8:15 a.m. Welcome Remarks
Poinciana 2 & 3
- Diane Alfano, Chairman, Institutional Investor
- Harvey Shapiro, Conference Chair, Institutional Investor
8:20 a.m. Keynote: David Villa, Chief Investment Officer, State of Wisconsin Investment Board
Poinciana 2 & 39:00 a.m. Macroeconomic Picture
Poinciana 2 & 3
The macroeconomic scene continues to dominate every investment decision. No one lives in a bubble–and no one invests in a vacuum. What are the latest predictions for the global economy and how will these prognosis impact asset allocation and portfolios?
Moderator: Craig I. V. Bridgewater, CA, CIA, Lead Partner, Investments & Banking, KPMG in Bermuda
Panelists:
- Jason Bonanca, Partner & Head of Strategy & Research, MKP Capital Management, LLC
- Dean Curnutt, President, Macro Risk Advisors
- Jeff Kronthal, Co-Founder and Co-Chief Investment Officer, KLS Diversified
- Vivin Oberoi, Head of Global Macro, Telluride Asset Management, LLC
9:45 a.m. Outsourced CIOs
Poinciana 2 & 3
Some of the most innovative investment funds are now led by outsourced CIOs. What can they do differently than their in-house peers? What are the lessons learned and best practices emerging in this growing arena?
Moderator: Gillian Scott, CA, CFA, Partner, Beaumont Advisors
Panelists:
- Chris Bittman, Partner, Perella Weinberg Partners
- Sheryl Johns, Executive Vice President, Houston Endowment Inc.
- Jeffrey MacLean, Chief Executive Officer, Wurts & Associates
10:30 a.m. Coffee Break
Poinciana Foyer11:00 a.m. Keynote: Sebastian Mallaby, Director of the Maurice R. Greenberg Center for Geoeconomic Studies and Paul A. Volcker Senior Fellow for International Economics and author of “More Money Than God: Hedge Funds and the Making of a New Elite.:
11:45 a.m. CONCURRENT SESSIONS
TRACK A: Overcoming Boards & Trustee Resistance to Hedge Funds
Poinciana 2 & 3
How can CIOs and consultants best communicate the utility and the opportunities of hedge funds to reticent boards and trustees? What best practices have proven most effective to educate about alternatives?
Moderator: Von Hughes, Managing Director, Pacific Alternative Asset Management Co. (PAAMCO)
Panelists:
- Ellen J. Ellison, CFA, Executive Director of Investments, University of Miami
- David J. Holmgren, Chief Investment Officer, Hartford HealthCare
- Michael Stambaugh, Chief Investment Officer, American University in Cairo
TRACK B: Does 2/20 Still Work?
Gardenia 1
Previously, the 2% management fees plus 20% incentive fee compensation structure was accepted as a given and investors had no appeal. But does this structure still work? Did it ever make sense? Can investors justify these fees to their boards anymore? This panel will explore the pros and cons to 2/20 as well as discuss alternative compensation schemes.
Moderator: Daniel Solomon, CFA, CAIA, President, Lyford Group International, Ltd.
Panelists:
- Darren Feld, Vice President, Mesirow Advanced Strategies, Inc.
- Randy M. Klein, Head of Operational Risk, GM Asset Management
- Apurva Mehta, Director of Investments, Cook Children’s Health Care System
- Paul Zummo, Chief Investment Officer, J.P. Morgan Alternative Asset Management
TRACK C: China: How to Capitalize on It?
Gardenia 2
The China story is an undeniably important one today–but beneath the headlines, how can investors access the real successes without being burned by corruption, misinformation and government intervention? And what about that bubble?
Moderator: Jack Miller, Member, Advisory Committee, Helmsley Charitable Trust
Panelists:
- Sam DeRosa-Farag, Managing Director, Morgan Creek Capital Management
- John Liu, President and Chief Investment Officer, HAN Capital Management, LLC
- Michael van Biema, Founder and Chief Investment Officer, van Biema Value Partners, LLC
12:30 p.m. Lunch
Windows on the Sound Restaurant (off the main lobby)2:00 p.m. CONCURRENT SESSIONS
TRACK A: Esoteric Strategies
Gardenia 1
When correlations rush to 1, what are the real out-of-the-box strategies keeping investors diversified? How can they be benchmarked? Can they handle the capacity? And when does esoteric become just weird?
Moderator: Hilde J. Hovnanian, CFA, Partner – Investment Management, SkyView Investment Advisors LLC
Panelists:
- Chris Acito, Chief Executive Officer and Chief Investment Officer, Gapstow Capital Partners
- Raphaelle Moysan, CFA, Client Portfolio Manager, Aviva Investors
- Romek Pawlowicz, Senior Partner, CIO and Founder, Orthogonal Partners LLP
- Pete Vloedman, Chief Executive Officer, Anchor Risk Advisors
TRACK B: Global Macro & CTA
Gardenia 2
The darlings of high volatility and non-correlated returns have found themselves quite in demand in recent years. How can investors separate the best from the pack?
Moderator: Karsten Schröder, Chairman and Head of Research, Amplitude Capital
Panelists:
- Ray Carroll, Chief Investment Officer, Breton Hill Capital
- Alexei Chekhlov, Partner and Head of Research, Systematic Alpha Management, LLC
- Jay Feuerstein, Chief Investment Officer & Chief Executive Officer, 2100 Xenon Group
- Michael S. Harris, Director of Trading, Campbell & Company, Inc.
TRACK C: Best Practices in Risk Management: Perspectives throughout the Trade Cycle
Gardenia 3
In today’s markets, increasingly characterized by algorithms and quant trading, investors need to be more aware than ever before of how their managers effectively utilize risk management to safeguard customer funds. Which questions should investors be asking? What innovations are members of the industry launching to more proactively monitor risk? In this lively discussion, you’ll hear from panelists who have varied perspectives on risk management including traders, risk managers, third-party vendors and exchanges. They will share best practices on liquidity, protection of assets, managing collateral and different segregation models. You’ll hear about ideas for minimizing risk throughout the trade cycle.
Moderator: Harvey Shapiro, Conference Chair, Institutional Investor
Panelists:
- Chris Dopp, Senior Vice President, Eurex
- Jeffry Haber, Controller, The Commonwealth Fund
- Steve Kahn, Head of Operations, Talpion
- Brian J. Tsai, Chief Operating Officer, IMC Asset Management Inc.
2:45 p.m. CONCURRENT SESSIONS
TRACK A: Insider Trading Liability: Protecting Your Firm
Gardenia 1
The US Securities & Exchange Commission and US Attorneys Offices have always been focused on insider trading cases but their emphasis on this important area has increased greatly over the past few years, with several high profile investigations and prosecutions. What are the insider trading issues that are of the greatest interest to securities regulators and prosecutors? How can you protect your firm to the maximum extent possible and reduce the chances that you will get caught up in an investigation? What should you do if you are contacted by regulators?
Moderator: Harry S. Davis, Partner, Schulte Roth & Zabel LLP
Panelists:
- Matt Auriemma, Head of Operational Risk Management, UBP Asset Management, LLC
- Lance Friedler, Partner, Sadis and Goldberg LLP
- Edward Klees, General Counsel, University of Virginia Investment Management Company
- Suzan Rose, Chief Compliance Officer, Marshall Wace North America LP
TRACK B: Commodities: Real Assets
Gardenia 2
Investors’ appetite for commodities was traditionally satiated with exposure to derivative financial instruments rather than real assets. With increased inflationary fears and an ever-expanding demand on limited resources, many investors now want to articulate their commodity allocations through hard assets. What are the options available–futures, ETFs, funds, direct purchases of timberland and farm land, others? Are commodities a core asset class or a tactical opportunity?
Moderator: Harvey Shapiro, Conference Chair, Institutional Investor
Panelists:
- Benjamin Alimansky, Director of Manager Research, Glenmede
- Hugh R. Lamle, President, M.D. Sass Investors Services, Inc.
- Steven C. Mathews, CFA, Chief Investment Officer/Portfolio Manager, Flintlock Capital Asset Management, LLC
3:30 p.m. Coffee Break
Poinciana Foyer4:00 p.m. Time at Leisure
6:00 p.m. Beach Reception
Whaler Inn Beach
(Transportation to the beach is provided by the trolleys at the main hotel entrance)TUESDAY, APRIL 17, 2012
7:45 a.m. Registration & Breakfast
Poinciana Foyer8:10 a.m. Welcome Remarks
Poinciana 2 & 3
- Harvey Shapiro, Conference Chair, Institutional Investor
8:15 a.m. Keynote: Lee Partridge, Chief Investment Officer, Salient Partners
Poinciana 2 & 38:45 a.m. Keynote: Joseph McAlinden, Chairman & Chief Executive Officer, Catalpa Capital Advisors LLC
Poinciana 2 & 39:15 a.m. Crystal Ball: The Hedge Fund Industry in 2017
Poinciana 2 & 3
The industry has spent enough time in the rearview mirror, with an obsession on the financial crisis of 2008. This panel will take on a far more challenging task: looking forward. This is an opportunity for industry pros to discuss and debate the most meaningful changes happening across the industry and to predict which changes will have the greatest impact–over the next 5 years.
Moderator: Jennifer S. Tribush, CAIA, Vice President, Business Development, State Street Alternative Investment Solutions
Panelists:
- Ricardo L. Cortez, CIMA, President, Global Distribution and Senior Portfolio Specialist, Broadmark Asset Management, LLC
- Jaeson Dubrovay, CPA, CAIA, Managing Director, Head of Portfolio Solutions, HedgeMark Advisors, LLC
- Jason Huemer, President, Visium Asset Management
- David Kupperman, Managing Director, Neuberger Berman Group, LLC
10:00 a.m. Lost Decade
Poinciana 2 & 3
Are we heading into a lost decade? If yes–what strategies work in that environment? And if not, what makes the current US interest rate, unemployment and growth environment different from countries like Japan.
Moderator: Brian F. Moss, CFA, Managing Director, Optima Fund Management LLC
Panelists:
- Mark Kuper, Principal, Telluride Asset Management, LLC
- Larry Morgenthal, Chief Executive Officer and Chief Investment Officer of Alternatives, UBP Asset Management
- Shachi Shah, Managing Director, Head of Barclays Capital Fund Solutions (BCFS) and BCFS Americas
- John Trammell, Global Co-Head, Cantor Fitzgerald Investment Advisors (CFIA)
10:45 a.m. Coffee Break
Poinciana Foyer11:15 a.m. CONCURRENT SESSIONS
TRACK A: Catch a Tiger by the Tail (Risk)
Poinciana 2 & 3
These funds are designed to soar when others crash and burn. What role should a tail risk allocation play in a portfolio? At what price?
Moderator: Harvey Shapiro, Conference Chair, Institutional Investor
Panelists:
- Jenny Chan, Investment Officer: Hedge Funds, Doris Duke Charitable Foundation
- Jeremy Tennenbaum, Chief Executive Officer, Spouting Rock Consulting
TRACK B: Liability Driven Investing
Gardenia 1
What is the mandate of the average pension or non-profit CIO? Is it to beat an arbitrary benchmark? Is it to be judged against Harvard and Yale? Or should investors swing–not for the fences–but for their own short and long-term liabilities? Is this the wave of the future and how will be measured?
Moderator: Christine Woodhouse, General Counsel, Taylor Investment Advisors
Panelists:
- Mebane T. Faber, Chief Investment Officer, Cambria Investment Management
- David W. Moore, Partner, NEPC, LLC
- Susan Slocum, Treasurer, Children’s Hospitals and Clinics of MN
12:00 p.m. CONCURRENT SESSIONS
TRACK A: Credit: Finding Blue Water
Poinciana 2 & 3
With so many illustrious credit managers crowding into the same popular trades, how are credit managers differentiating themselves and seeking unusual opportunities? What role is Europe playing in the credit scene? And how can investors benchmark performance when so much is distressed?
Moderator: Mark Kenyon, Chairman & Chief Investment Officer, KStone Partners LLC
Panelists:
- Frank Barbarino, Senior Research Consultant, NEPC, LLC
- Mihir Meswani, Chief Portfolio Strategist, Sandalwood Securities, Inc.
- Howard Needle, Managing Partner & Chief Executive Officer, Acuity Capital Management
- Christian Picot, Managing Partner, Odyssey Investment Management, LLC
TRACK B: Emerging Markets
Gardenia 1
With much of the emerging world in better fiscal shape than the developed world, an allocation to emerging economies is no longer “if” but “how much?” And for many, those allocations are increasingly sizeable and significant. How are investors finding economies truly uncoupled from first world problems?
Moderator: Spencer H. Edge, CFA, CAIA, Vice President, Tiedemann Wealth Management, LLC
Panelists:
- Shaka Kariuki, Portfolio Manager & Head of Emerging Markets, Deseret Mutual Benefit Administrators
- Michelle Kelner, Partner and Portfolio Strategist, Prince Street Capital
- Michael Sloyer, General Counsel, Ruane, Cunniff & Goldfarb Inc.
12:45 p.m. Lunch
Windows on the Sound Restaurant (off the main lobby)1:45 p.m. The Crossroads of Law & Finance
Poinciana 2 & 3
Never has the investment world been so constrained by an ever-evolving legal landscape. Are managers still able to trade their best ideas? Can they effectively invest globally? What are the hard questions being posed by investors to determine the genuine investment impact of the new regulatory environment?
Moderator: Jay B. Gould, Partner, Pillsbury Winthrop Shaw Pittman LLP
Panelists:
- John P. Hornbostel, General Counsel, K2 Advisors
- Brendan R. Kalb, General Counsel, AQR Capital Management, LLC
- Jonathan P. Koerner, Assistant Investment Counsel, Utah Retirement Systems
2:30 p.m. Managing under a Microscope
Poinciana 2 & 3
Between Dodd-Frank and the UK’s FSA, managers are having to operate much more under a public spotlight than ever before. Media coverage has quadrupled in the last two years with more than 10,000 articles written every year by major financial publications and wire services, from the Financial Times to Institutional Investor magazine. How should managers function in this environment, and what can they do, within the legal and regulatory constraints, to operate their businesses and attract and retain investors.
Moderator: Harvey Shapiro, Conference Chair, Institutional Investor
Panelists:
- Jan Alexander, Senior Writer, AR Magazine
- Stevenson Jacobs, Director of Marketing, Visium Asset Management, LP
- Ed Rowley, Head of Corporate Communications, Financial Risk Management (FRM)
- Scott Tagliarino, Managing Partner, ASC Advisors LLC
3:15 p.m. Conference Concludes
