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The Changing Face of the Global Funds Industry Funds Forum 2011

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The Changing Face of the Global Funds Industry Funds Forum 2011 Guernsey Events Funds Forum 2011 The Changing Face of the Global Funds Industry Wednesday 11th May Grange St Paul’s Hotel, 10 Godliman Street, London EC4V 5AJ Association partners: Media partners: The Association of Investment Companies Lower Conference Level2 Exhibition FloorPlan Toilets Primary sponsors Coffee / Lunch Stand 16: Grant Thornton 2 3 4 5 6 12 Stand 15: Collas Crill 10 Stand 14: Mourant Ozannes Stand 13: Kleinwort Benson 1 Coffee / Lunch 7 8 15 Secondary sponsors 13 Stand 12: Praxis Fund Services 16 Stand 10: Anson Registrars Lifts Stand 08: Dextra Registration Stand 07: Ogier Main Funds Forum Hall Stand 06: KPMG 14 Stand 05: Bedell Group Stand 04: Butterfield Bank Stand 03: BNP Paribas Coffee / Lunch Stand 02: Deloitte Stand 01: HSBC Securities Services Coffee station & Lunch Cloakroom Today’s programme 12:30 Buffet Lunch & Registration – Lower Level 2 13:30 Conference starts Welcome by Peter Niven, Guernsey Finance 13:35 Alastair Stewart, OBE, Moderator 13:45 Session One AIFM - Should I stay or should I go? Panel Members: • Jarrod Cowley-Grimmond, Commerce & Employment Department (States of Guernsey) • Carl Rosumek, Guernsey Financial Services Commission • Benoit Le Bret, Gide/European Private Equity & Venture Capital Association (EVCA) • Anne Holm Rannaleet, IKARE Ltd/EVCA • Guy Rainbird, Association of Investment Companies (AIC) Q & A Session 14:50 Session Two Building BRICs - Raising capital for emerging ecomomies Panel Members: • Tomas Olsson, Prosperity Capital Management • Andy Rothery, Deloitte • Joe Winkley, Oriel Securities • Darko Hajdukovic, London Stock Exchange Q & A Session 15:50 – 16:20 Exhibition & Coffee Break 16:20 Session Three Better Alternative Asset Classes - Strategy for the next decade Panel Members: • Jon Moulton, Better Capital • Stephen Foster, Credit Suisse Asset Management • Jon Macintosh, Saltus • Matthew Arkinstall, Greenpark Capital • Charles Murphy, Matrix Q & A Session Thanks and closing remarks – Peter Niven 17:30 Drinks Reception – Exhibition area Primary sponsors: Welcome I am pleased to welcome you to the Guernsey Funds Forum 2011. Writing the welcome note to last year’s forum I commented on how the so-called ‘offshore’ financial centres had come under increased scrutiny but Guernsey’s status in the premier division had been confirmed by the OECD white listing at the conclusion of the G20 summit in April 2009. I am extremely delighted to be able to report that our position as a well-regulated, respected and tax transparent jurisdiction has been further reinforced by two more notable sets of reports published at the start of this year: • IMF evaluation reports commended Guernsey’s high standards of financial regulation, supervision and stability along with its robust criminal justice framework. • The OECD’s Global Forum endorsed Guernsey’s continued commitment to transparency and exchange of information for tax purposes. Of course, the financial crisis and its aftermath have also borne more sector-specific initiatives, for instance the EU’s Alternative Investment Fund Managers (AIFM) Directive. It was commented that this could prove the death knell of our funds industry but this has proved unfounded. Indeed, the joint work of government, industry and regulator has informed and educated the community in Brussels about our finance industry and in particular the funds sector. The resulting agreement for the framework of the Directive not only provides some certainty but also places Guernsey in a good position going forward. There is still much work to do and government, industry and regulator are continuing to ensure that Guernsey is represented in the most appropriate ways during the next stages of the process. We are confident that the outcome will be positive for the future of our funds industry. There are other challenges. For example, the ‘zero-10’ corporate tax regimes of the Crown Dependencies have come under scrutiny. We are undertaking a review at the moment and will be consulting again in the coming months but Guernsey has been clear from the outset that we will ensure our regime is both compliant and also competitive. Fundamental to our continued competitiveness is continued tax neutrality of financial services products and as such, the fund industry’s exempt company status is not under threat. In addition, I can also say that we are only reviewing corporate tax and there will remain no capital gains tax in Guernsey. There is also much more on the agenda where Guernsey needs to make its interests known and we have been enhancing our network in both London, Europe and beyond to ensure we are appropriately represented. For example, I have personally committed a significant amount of time and energy building and developing relations in Westminster and the City, we now also have a joint Channel Islands Brussels Office (CIBO) and there is a growing emphasis on taking the Guernsey name to the ‘emerging’ economies of Brazil, Russia, India and China - the so-called BRICs. As I am sure you will hear more about today, Guernsey will continue to take all steps possible to ensure the success of our funds industry well into the future. Enjoy the Forum! Lyndon Trott Chief Minister States of Guernsey Sponsored by Carey Olsen Keynote Speaker & Moderator ALASTAIR STEWART presents a range of news and current affairs programmes on the ITV network including “The ITV Evening News” , “The ITV Lunchtime News” and “News at Ten”. In April 2010, he moderated the first ever live TV debate between the Party Leaders, ahead of the General Election. His career started in 1976 with ITV’s Southern Television, in Southampton. He was a reporter, industrial correspondent, presenter and documentary maker. He recorded one of the last interviews with Lord Mountbatten, and even spent six weeks in Ford Open prison to make a half hour documentary. Alastair joined ITN as an industrial Correspondent in 1980 and had his first taste of newscasting one year later. He originally joined New at Ten in May 1989 from ITN’s News at 5.40, which he presented from September 1986. Before that, he spent three years as a presenter and reporter with ITN’s Channel 4 News. He also presented ITN’s “The Parliment Programme” for Channel Four. He is one of the very few people who has, at one time or another, presented all of ITN’s main news programmes. In 1990 he was appointed ITN’s Washington Correspondent, an assignment abruptly interrupted by the first Gulf War. He was sent to Dhahran, Saudi Arabia, to anchor ITN’s coverage. He presented News at Ten, live from Saudi Arabia, for two months. At the end of February 1991, Alastair was the first British television reporter to broadcast, live, from the liberated Kuwait City. He presented News at Ten from Kuwait for a week before returning to the UK. Alastair subsequently presented Scottish TV’s special coverage of the gulf War Service of Thanksgiving, attended by HM the Queen, for the ITV network. Away from ITN, in 1994, he presented “Alastair Stewart’s Sunday” for BBC Radio 5 before moving to host Alastair Stewart’s Sunday Programme for GMTV which he presented until July 2001. From 1993 until 2009, he presented ITV London’s “London Tonight”. He returned to ITV News as an anchor on the ITV News Channel for the 2003 Iraq War, the channel’s Local Government Elections coverage and a special programme on the European Single Currency. He went on to present his own news and interview strand “Live with Alastair” for which he won the Royal Television Society’s Presenter of the Year Award in 2005. ITN’s network coverage of the 1992 Budget saw the ninth year of Alastair’s involvement in the presentation of this special programme for ITV. It was his fifth year anchoring the programme having taken the role from Sir Alastair Burnet. Since his return to ITV News, he has been a regular presenter of Budget programmes. Alastair anchored the 2010 General Election for ITV having co-anchored the 1987 General Election with Sir Alastair Burnet, the 1992 General Election with Jon Snow; and the 1997 and 2005 General Elections with Jonathon Dimbleby. He has presented many of ITN’s other special programmes on the ITV network including the State Openings of Parliament, numerous by-elections, State Visits and for the Royal Weddings of the Prince and Princess of Wales and Duke and Duchess of York. Alastair provided live coverage of the Space Shuttle Challenger disaster as the details of the tragedy unfolded. A two minute news-flash became an unscripted, one hour special programme. He also anchored, with Sandy Gall, ITN’s award winning coverage on the night of the bombing of the PanAm jet over Lockerbie; he also presented ITV’s network coverage of the Memorial Service for the victims. He anchored the ITV Network coverage of the funeral of Pope John Paul II and of the resignation of Tony Blair. In July 2006, at the out-break of the Israeli-Lebanon conflict, he presented all three ITV News network bulletins, for five days, from Beirut. He jointly presented “Cities at War” and “Legacy of War” with the late Walter Cronkite for ITV and America’s Public Service Broadcasting network. Alastair Stewart studied economics, politics and sociology at Bristol University and was Deputy President of the National Union of Students, 1974-76. In the charity world and voluntary sector, Alastair is Vice President of both Action for Children and Homestart. He is also a Patron of the Lord Mayor Treloar College for disabled students; the disability charity Scope; the mental health charity Sane; the medical research charity, Hope; the Crimestoppers Trust; Kids4Kids; the brain tumour Samantha Dickson Research Trust; Just A Drop; the Loomba Trust; and Momo Helps, Mo Mowlam’s charitable trust; he is a vice Patron of The Zito Trust and The Mental Health Foundation and an Ambassador for Investors in People, Crisis – the homeless charity - and Care International.
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