KN GAIM COVER 2010:Layout 1 16/3/10 09:48 Page 1

EndFree Investors For

Grimaldi Forum, Monaco 14 June: UCITS & Managed Accounts Summit www.icbi-gaim.com 15-17 June: Main Conference NEW Achieve Your Business Goals At The World’s Largest Hedge Fund Event Academic Hedge Fund Manager Benefits Investor Benefits & Industry • Meet 300+ Active Investors In The • Discover 2010’s Top Performing Hedge Funds Research Alternatives World In Just 4 Days & Hedge Fund Strategies For 2010 • Use Our Unrivalled Structured Networking • Take Part In Our Structured Networking To To Meet The Right Investor For Your Fund Meet Funds Of Interest To You

• Learn From The Top Hedge Fund Brands • Benefit From Our New Investor-Driven & & The Renowned Industry Stars Comprehensive Programme Professor Randy Cohen MIT SLOAN Author Of New Research On Meet Over 300 End Investors & Asset Allocators Asset Allocation

Danny Truell Michael Powell Gerlof de Vrij Tony Broccardo Theodore Economou Larry Kochard Ricardo Weiss Diego Icaza THE WELLCOME UNIVERSITIES ALL PENSIONS BARCLAYS PENSION CERN PENSION GEORGETOWN FAPES-BNDES BBVA PRIVATE TRUST SUPERANNUATION GROUP (APG) FUND FUND UNIVERSITY PENSION FUND PENSION FUND, SCHEME BRAZIL PERU Nassim Taleb UNIVERSA ASSET MANAGEMENT Hear From The Industry’s Biggest Stars Author Of New Research On Crowd Behaviour & Risk Perception

Mike Novogratz Bernard Oppetit Byron Wien Rick Sopher Elena Ambrosiadou Peter Clarke Hugh Hendry Steve Friedman FORTRESS CENTAURUS CAPITAL BLACKSTONE LCF ROTHSCHILD IKOS MAN GROUP PLC ECLECTICA ASSET EOS PARTNERS INVESTMENT GROUP ADVISORY SERVICES ASSET MANAGEMENT MANAGEMENT NEW Lawrence MacDonald Join Our UCITS & Managed Accounts Investor Summit Lehman Eyewitness Author Of The Exclusive Benefits Of Attending Meet New Hedge Fund Investors At The Summit “A Colossal Failure of 14 June 2010  Meet NEW Investors & Asset Allocators Active In Common Sense” Answering The Needs Of UCITS & Managed Accounts The Post-Crisis Investor:  Discover How To Fine-Tune Your Strategy New Thinking On  Pitch Your Fund During The UCITS & Managed Accounts QuickFire Showcase Liquidity & Transparency Mario Therrien Olivier Couvreur Jose Galleano Mussie Kidane  Receive An Exclusive Pass To The Investor Drinks CAISSE DE DÉPÔT AA ADVISORS 3A & 3A ASIA PICTET In Hedge Fund Investing Reception & Meet The GAIM Investor Community ET PLACEMENT DU In Advance Of The Main Conference QUÉBEC

Yariv Itah CASEY QUIRK & What’s New For 2010? ASSOCIATES Author Of New  More Institutional Investors Than Ever Before – Meet more  Hone Your Business Skills At 3 New Inspiring Mini-Workshops: Research On endowments, pension plans and foundations than at any other 1. How to deliver the perfect pitch for investment; 2. Mastering the Key Industry Trends alternatives event. art of rational decision making under pressure and 3. Using For 2010  New Special Focus Investor Groups – Hear from Latin American behavioural indicators to detect deception & uncertainty. Investors, Nordic Investors, Middle-Eastern Investors, Retail  New Range Of Hedge Fund Strategies In Focus: Including Global Distributors & Fund Platforms. Macro, Fixed Income, CTAs, Systematic Trading, Credit, Distressed  New UCITS & Managed Account Investor Summit – This Debt, Environmental, SRI & Commodities. separately bookable summit (14 June) focuses on the new  New Academic Research On Hedge Fund Asset Allocation By Gold Sponsor generation of liquid and transparent products renowned Hedge Fund Expert Professor Randy Cohen Of MIT  New Asset Allocation & Manager Selection Focus Day – Discover SLOAN how top end investors (Wellcome Trust, Barclays Pension Fund,  New Enhanced Ways of Connecting & Promoting Your Fund CERN Pension Fund) are changing their asset allocation. (please turn over for more information)

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www.icbi-gaim.com KN GAIM 2010 br:FLAME A2 06 16/3/10 09:44 Page 3

GAIM International 2010: Meeting The Needs Of The Global Alternatives Community

CONNECTING INVESTORS WHAT’S NEW FOR 2010?

& FUND MANAGERS MORE Investors Attending Than Ever Before GAIM International’s Unique Structured Networking Offering: GAIM International really is making a name for itself as the investor’s favourite alternatives conference! For 2010 we have more investors (including many more Ensuring You Connect With The Right People institutional investors) than any other hedge fund event.

• Daily Investor Speed-Networking NEW Strategic Insights From The Big Hedge Fund Brands Sign up for a guaranteed introduction and networking with 25 investors in each For 2010, not only do we have the top brands from previous years returning, we session. also have top brands on board that are new to the event including • Fortress Investment Group • Bluecrest Capital Management • Hard Copy Asset Manager Listings • Centaurus Capital • EOS Partners Investors will receive hard copy listings of all the asset managers in attendance so • Blackstone Advisory Services • Man Group Plc they can look through and see who is active in strategies relevant to them. Ensure • Gartmore • LCF Edmond De Rothschild Asset your fund strategies are listed so the investors hear about them. Management Ltd

• Hard Copy Investor Strategy Search Listings: NEW UCITS & Managed Accounts Investor Summit: When you arrive at the event you will be given a hard copy of all the investors in Today, liquidity is now king and transparency is a pre-requisite, so this Summit is attendance and in-depth data on what strategies/vehicles they are actively specifically designed to answer the needs of the post-crisis investor & to offer investing in. There will be over 500 separate search listings to look through. No new thinking on the importance of liquidity & transparency in hedge fund other conference is able to offer you such tailored and useful information on the investing. At this summit you will: • Meet new investors & asset allocators active in UCITs & Managed Accounts investors in attendance. • Discover how to fine-tune your strategy • Pitch your fund during the UCITs & Managed Accounts Quickfire Showcase • MyGAIM 2010 – Your Event Linked-In • Receive an exclusive pass to the investor drinks reception & meet the GAIM This networking site allows you to view who will be attending and make contact International investor community in advance of the main conference with them in advance-perfect for scheduling meetings! You can use it as a tool to upload your profile, promote your business and make contact with potential NEW Asset Allocation & Manager Selection Focus Day clients. This takes place during The Main Conference to make sure you are up to speed with the new criteria! The focus day is called: • Delegate Quickfire Showcase 2010 Sign up to pitch your fund to our investor panel and a friendly watching crowd full CREATING A NEW ASSET ALLOCATION & of investors. There are 30 slots available throughout the event. You will be MANAGER SELECTION MODEL: prompted to sign up in advance two weeks prior to the event. For 2010, you will Fresh Perspectives For Post Credit-Crunch Investment Management receive friendly allocator feedback. It is guaranteed fun, informal and effective. During this day you will: • Discover how top end investors are changing their asset allocation. Hear from • Meet The Investor Roundtables the Wellcome Trust, Barclays Pension Fund, CERN Pension Fund among others Hear from and meet the specific type of investor you are interested to work with: • Meet and quiz the investors on their strategies during our investor lunch tables • Private Banks • NEW for 2010: Sovereign Wealth Investors • Hear about new trends in manager selection from top industry FOFs including • Family Offices • NEW for 2010: LATAM Institutional Investors Arden Asset Management, Olympia Capital Management, and EIM • Institutional Investors • NEW for 2010: Hedge Fund Retail Distributors NEW Hone Your Business Skills At 3 Special Mini-Workshops • Investor Strategy Roundtables These unique workshop sessions are designed to give you access to the experts Attend small group roundtables hosted by investors on their preferred strategies. that can really improve the way you do business. Hear what they want and what they look for in: Emerging Markets, CTA, Global Macro, Distressed Debt, Fixed Income, Alternative Benefit from expert insight into: Alternatives, Commodities, Energy, Environmental, Asset based lending. • How To Give The Perfect Pitch To Investors - Explore what you can do to improve your current pitch • Top Performing Fund CapIntro Showcases • How To Detect Deception And Uncertainty In A Potential New Business Profile your fund in front of our investor community. Each session offers 5 Partner - This workshop is led by an expert with a previous career in the U.S. interesting & top performing funds the opportunity to discuss their fund for 10 intelligence community! minutes. These slots are pre-bookable so please email [email protected] if • How To Perfect The Art Of Rational Decision Making - Learn how to interpret you would like to take part. risk and manage fear and greed

MEET OVER 300 INVESTORS & 500 TOP MANAGERS IN ONE PLACE AT ONE TIME The Investor’s Event Of Choice For Meeting The Winning Funds Of 2010 Allow Us To Streamline Your Meeting Schedule & Your Entertaining Expenses: At GAIM International This Year You Will Meet & Network With More Investors & Asset Allocators Than Ever Before! With Over 75 Investors & Asset Allocators Already Confirmed, GAIM 2010 Looks Set To Bring Together The Largest Investor Community So Far. We Are Predicting Over 300 Investors & Asset Allocators In Attendance!

Institutional Investors Already Confirmed Include: Danny Truell, The Wellcome Trust • Michael Powell, Universities Superannuation Scheme • Tony Broccardo, Barclays Pension Fund • Larry Kochard, Georgetown University • Ricardo Weiss, FAPES- BNDES Pension Fund, Brazil • Theodore Economou, CERN • Mario Therrien, CDPQ • Niels Oostenbrug, MN Services • Peter Meier, Personalvorsorge-Stiftungen Der Sv Group • Guan Seng Khoo, Temasek Holdings • Gerlof De Vrij, All Pensions Group (APG) • Digeo Icaza, BBVA Private Pension Fund Perú, AFP Horizonte • Nancy Blunk, Permanent Fund Alaska • Sassan Zaker, Julius Baer Pension Fund • George Moss, CIO, LSU Foundation Family Offices Already Confirmed Include: Nikos Latsos, Alpheus Advisors • Luis Rodriguez, The Manhattan Family Office • Steen Ehlern, Ferguson Partners Family Office • Candice Beaumont, L Investments • Lionel De Saint-Exupery, CDIB Capital • Brunello Nucci, White Birch Associates • Roberto Tronci, Starfin • Eric Debonnet, HDF Finance • Cedric Van Rijckevorsel, IDS Capital • Anthony Gordon, Gordon Family Office • Egon Vorfeld, The Forum Finance Group • Bernard Saint-Donat, Saint Donat & Co • Russell E. Lundeberg, Barrett Capital Management • Ghislain De Castelbajac, Applied Business Intelligence • Amin Al- Rashid, CEO, AR Investment Partners • Novaar • Gordon Grant Curtis, Ci Investments Private Banking & Wealth Management Already Confirmed Include: Minka Nyberg, Bank Julius Bär • Mussie Kidane, Pictet Wealth Management • David Miller, Cheviot • Mark Schindler, Clariden Leu • Cedric Kohler, Lombard Odier Darier Hentsch & Cie • Dino Sola, Monaco Investment Research, S.A.R.L. • Tony Gannon, Abbey Capital • Dieter Kaiser, Feri Institutional Advisors Gmbh • Fabrizio Ladi Bucciolini, Reyl & Cie • Karim Shariff, Majlis Managers • Thomas Fekete, Barclays Wealth • Richard Tomlinson, Tomlinson Investment Consulting • Maria Boyazny, Siguler Guff • Laurent Chevallier, Eurofin Capital • Katia Coudray Cornu, UBP • Borja Largo, Allfunds Bank • Miguel Tiedra, BCV • Faraz Sultan, HSBC Private Bank Fund Of Funds Already Confirmed Include: Jose Galleano, 3A • Omar Kodmani, Permal • Maarten Nederlof, PAAMCO • Shakil Riaz, Arden Asset Management • Jaime Castan, Man Investments • Dennis Rhee, Treesdale Partners • Peter Coates, Lighthouse Partners • Olivier Couvreur, AA Advisors • Rick Sopher, LCF Edmond De Rothschild Asset Management Ltd • Paolo Barbieri, Pioneer Alternative Investments • Mustafa Jama, Morgan Stanley Alternative Investment Partners • Ingrid Nietsch, FRM • Niels Jenson, Absolute Return Partners • Guido Bolliger, Olympia Capital Management • Nicholas Verwilghen, EIM • Roman Berri, AXA Investment Managers • Reza Vahabzadeh, JP Morgan Alternative Asset Management • Nicholas Hannan, Oakley Alternative Investment Management Ltd

To Promote Yourself To This Fantastic Audience Contact Brenda Cunningham [email protected] +44(0) 20 7017 7219 KN GAIM 2010 br:FLAME A2 06 16/3/10 09:44 Page 4

Day 1 Focus: Recalibrating The Business Model For The New Financial Decade

GAIM International 2010 – Day One – Tuesday 15 June 2010

08.00 Registration BRAND NEW RESEARCH THE GAIM LAUREATE ADDRESS Crowd Behaviour & Risk Perception 08.45 A Redefined Hedge Fund Industry Reveals Itself: 12.00 Why It Is Easier To Fool A Million People Than To Fool A Single Person Identifying The Key Trends To Watch Over The Next 12 Months Nassim Nicholas Taleb, Principal, UNIVERSA INVESTMENTS L.P., Yariv Itah, Partner, CASEY QUIRK & ASSOCIATES Distinguished Professor NYU-POLYTECHNIC INSTITUTE & The Author Of The Black Swan. Challenge 1 Winning Business Models In Light Of New Investor And Regulatory Pressures Operating In A World Of Greater Liquidity; Transparency; Changed Fee Arrangements & New Hedge BUFFET LUNCH IN THE EXHIBITION AREA - Fund Structures 09.15 Moderator: Dan Shapiro, Partner, SCHULTE ROTH & ZABEL PLUS YOUR CHOICE OF LUNCHTIME EVENTS Panellists: Byron Wien, Vice Chairman, BLACKSTONE ADVISORY SERVICES 12.30 - 12.50 Rick Sopher, Chairman, LCH INVESTMENTS NV & Managing Director AN AUDIENCE WITH…Nassim Taleb LCF EDMOND DE ROTHSCHILD ASSET MANAGEMENT LTD An informal 20 mins Q&A session Peter Shoenfeld, Managing Director, PSAM Plus Final Speaker To Be Confirmed 13.00 - 13.25 DELEGATE QUICKFIRE FUND SHOWCASE NEW STRATEGIC THINKING Sponsored by The GAIM International Industry Health Check 2010 Measuring The Strengthening Pulse Of The Industry In Light Of Ongoing 10.00 Restructuring, Consolidation & M&A And Determining Who Is Coming Out On Top? Kerry Stirton, Partner, RED MOUNTAIN CAPITAL PARTNERS With Live Manager Selector Feedback Plus Former Senior Member, GOLDMAN SACHS' GLOBAL INVESTMENT GROUP Come, listen and cheer on ten brave funds with two minutes each, convincing the 12.30 asset-allocating judges - strictly off-the-cuff with no props or Powerpoint. EXTENDED NETWORKING BREAK & MORNING COFFEE: GAIM International CAPINTRO SESSIONS 10.30 GAIM INTERNATIONAL SPEED NETWORKING SESSION 1 In each showcase, hear and meet five different portfolio managers from some The First Structured Speed-Networking Session With Asset Allocators (limited places) of today’s top performing funds. Each fund has 10mins in total for presentation and questions Challenge 2 GLOBAL ECONOMIC STRATEGY 13.30 - 14.30 13.30 - 15.30 What Strategies & Opportunities Should We Be Pursuing & How Can The Hedge Fund Industry Showcase A Showcase B Ensure That It Delivers In All Markets & Conditions? SEB CAPINTRO SHOWCASE - GAIM INTERNATIONAL PRE-BOOKABLE Moderator To Be Announced Theme INDEPENDENT SHOWCASE - Strategies With A Strong Opportunity Set Theme 11.20 Panellists: Steve Friedman, Managing Partner, EOS PARTNERS Line-Up To Be Announced End Of April Top Performing Funds & New Launches Peter Clarke, CEO, MAN GROUP PLC Current Line-Up Listed Below Bernard Oppetit, Chairman, CENTAURUS CAPITAL Leda Braga, President, BLUECREST CAPITAL MANAGEMENT Would you like your fund to join the line up and present to Dr Chris Jones, Chief Investment Officer, KEY ASSET MANAGEMENT (UK) LIMITED our investor community? If so, please get in touch Member Of The SEB GROUP

MEET THE INVESTOR STREAM Expert Faculty Discussion + Your Say Q&A + Focussed Networking Our independent Capital Introduction Session Profiles THE INTERACTIVE CIRCUITS DAY 1: 10 Top Performing Funds & New Launches in the market over 2 hours. Each fund has 10 minutes to describe the Stream A INVESTORS Stream B Stream C fund advantagesStream D in detail MEET THE INVESTOR INVESTMENT STRATEGIES MAKING THE MODEL WORK GAIM13.30 International -14.30 Investor Strategy Roundtables Global Macro Reinventing Fund Of Funds CAPINTRONordic Energy SESSIONS Trading Henrik Wennberg, PLENUM POWER SURGE FUND 14.30 14.30 • Each Roundtable Is Hosted By At Least One Investor GAIM THINKPIECE Our independent CapitalCredit Introduction Session Profiles EXPERT FACULTY DISCUSSION Loic Fery, CHENAVARI INVESTMENT MANAGEMENT • Choose Three Roundtables Per Session Investing In An Era Of Sovereign Risk: What Are The Challenges? Reinventing The Value Proposition Of Fund Of Funds In A 10 Top Performing Funds & New Launches in the market • Roundtables Last 20 mins & Are Repeated Three Times In Dino Sola, MONACO INVESTMENT RESEARCH over 2 hours. Each fund14.30 has - 15.3010 minutes to describe the Post-Madoff World To Give Investors Safe Access To fund advantages in detail Each Session Niche Hedge Funds & The Opportunity To Diversify CTA/Systematic Trading 14.40 Alexei Checklov, SYSTEMATIC ALPHA Any Good Strategy x 2 Hosted by Family Office EXPERT FACULTY DISCUSSION 13.30 -14.30 Moderated by: EuropeanNordic Focused Energy Energy Trading Trading Global Macro x FX Hosted By Multi-Family Office Understanding The Recent Strength Of Global Macro Strategies & How Can We Ensure Good Performance Continues? Kenneth Phillips Sorin KjærHenrik Petersen, Wennberg, NEAS PLENUM POWER FUND Managed Futures & Systematic Trading Asset Allocators HEDGEMARK INTERNATIONAL, LLC Credit 14.30 Hosted by Private Client Asia Equity Long/Short Tony Gannon, ABBEY CAPITAL FUND OF Adrien Gheur,Loic APSFery, ASSET CHENAVARI MANAGEMENT Intermediary Vehicles x 2 Gerlof De Vrij, APG With Expert Faculty: FUNDS Omar Kodmani, PERMAL 14.30 - 15.30 (Fund-of-Funds/Managed Accounts/Multi-Strategy) Opportunities In US RMBS & ABS Asset Managers Maartin Nederlof, PAAMCO CTA/Systematic Trading Hosted by Corporate Treasury Mustafa Jama W. GregoryAlexei Drennen, Checklov, IMC SYSTEMATIC ASSET MANAGEMENT ALPHA MORGAN STANLEY ALTERNATIVE Cedric Kohler, LOMBARD ODIER Energy & Environmental/ Commodities Plus 2 more showcase slots available. Hosted By Family Office INVESTMENT PARTNERS Nicholas Hannan, European Focused Energy Trading Elena Ambrosiadou, IKOS OAKLEY ALTERNATIVE INVESTMENT If you haveSorin a Kjær top performing Petersen, NEASfund & POWER would like FUND to join the Emerging Markets Hosted By Private Client MANAGEMENT LTD showcase, please contact [email protected] plus 2 Asset Managers tbc end of April 2010 The final lineup to be announced end of April. If you have a Equity Strategies Hosted By Multi-Family Office top performing fund please contact [email protected] 15.20 - YOUR SAY Q&A 15.20 - YOUR SAY Q&A 15.30 EXTENDED NETWORKING BREAK & Afternoon Tea – INVESTOR SPEED-NETWORKING Session 2 of 3 - The second of 3 fun sessions designed to enable you to meet a lot of Investors fast! You will be able to swap business cards and briefly explain your interests before moving onto the next contact. 16.20 Stream D Stream B Stream C Stream A NEW PRODUCTS INVESTMENT STRATEGIES MAKING THE MODEL WORK MEET THE INVESTOR Liquid Vehicles & Changing Regulation To Meet CTAs & Syst. Trading Risk Management & Due Diligence Business & Investor Needs

PwC Launch Their Whitepaper On “The Regulation, Taxation FAMILY OFFICES 1 Was 2009 An Atypical Year For CTAs Or Was It Just Part Of EXPERT PANEL DISCUSSION And Distribution Of Hedge Funds Around The Globe” Overcoming The Disconnect Between Risk & Return: The Cycle & How Can Investors Use A CTA In A Large Rethinking Risk Management & Good Governance 16.20 How Are Both Large & Small Family Offices From Around Diversified Portfolio? Olwyn Alexander, PRICEWATERHOUSECOOPERS (Ireland) The World Rethinking Their Portfolios, Moderated by: & And How They Wish To Invest In The Future? Asset Allocators: Mike Hartwell, DELOITTE Robert Mellor, PRICEWATERHOUSECOOPERS (UK) Moderator: Miguel Tiedra, BCV Dori Dana-Haeri, ACROSTIC Laurent Chevallier, EUROFIN CAPITAL Panellists: Panellists Nikos Latsos, ALPHEUS ADVISORS Asset Managers: Luis Rodriguez, MANHATTAN FAMILY OFFICE Empowerment And Control: Steen Ehlern, FERGUSON PARTNERS FAMILY OFFICE Guan Seng Khoo, TEMASEK HOLDINGS Understanding The Key Benefits And Limitations Of Liquidity. 16.45 Anthony Gordon, GORDON FAMILY OFFICE 5 Asset Managers tbc by the end of April 2010 How Can Asset Allocators Use, Optimize And Supplement Egon Vorfeld, THE FORUM FINANCE GROUP plus 2 Asset Managers tbc end of April 2010 Managed Accounts In Their Portfolio Allocations? Nicolas Hirsch, AMUNDI HEDGE

UCITS – Hedge Funds & Their Administrative NEW RETAIL DISTRIBUTORS & FUND PLATFORMS Effectively Marrying Qualitative And Implementation: 17.10 How Comfortably Will The New Generation Of Liquid & Quantitative, Trend Following, CTAs & Quantitative Due Diligence The Dark Side Of The Moon Transparent Hedge Fund Products Fit Into Global Macro Showcase Meredith Jones, PERTRAC FINANCIAL SOLUTIONS Traditional Retail Platforms? Serge Dollendorf, ALCEDA FUND MANAGEMENT Moderator: Hear from the top performing quantitative funds & Amy Bensted, PREQIN understand the underlying strategies behind their success NEW The final lineup to be announced end of April. INVESTORS NEW GAIM THINKPIECE Panellists: If you have a top performing fund in this strategy How Efficient Product Servicing Can Support Alternative Re-aligning Your Strategy To Meet With Investor Needs: Mussie Kidane, PICTET please contact [email protected] Investments In A Regulated Environment 17.35 Borja Largo, ALLFUNDS Vincent Beaujeu-Dumontel Which Product Appeal To The Investor Now & Why? Paolo Barbieri, PIONEER ALTERNATIVE INVESTMENTS CACEIS INVESTOR SERVICES Speaker Tbc

18.00 A Reception For All Delegates - 20.00 THE GAIM INTERNATIONAL 2010 DRINKS RECEPTION

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2 W www.icbi-gaim.com • T +44 (0) 20 7017 7200 • F +44 (0) 20 7017 7807 • E [email protected] KN GAIM 2010 br:FLAME A2 06 16/3/10 09:44 Page 5

Day 2 Focus: Reforming The Hedge Fund/Investor Relationship

GAIM International 2010 - Day Two – Wednesday, 16 June 2010

08.45 Welcome Coffee

THE INTERACTIVE CIRCUITS DAY 2: GAIM Thinkpiece + Expert Faculty Discussion + Your Say Q&A + Focussed Networking

Stream A - WINNING INVESTMENT STRATEGIES Stream B - TOP PERFORMING STRATEGIES Stream C - MAKING THE MODEL WORK 09.15 Emerging Markets Fixed Income Attracting Alternative Capital & Seeding Models

09.15 09.15 SPECIAL FOCUS LATIN AMERICAN INVESTORS 09.15 GAIM THINKPIECE Where Are We On The Evolution Towards Greater Flexibility On Asset Allocation GAIM THINKPIECE Seeding In Practice Case Study: Exploring The Reality Of The Process & On Shore/Off Shore Regulations? Charting The Rise & Rise Of Fixed Income Seeder: Moderator: Al Samper Brunello Nucci, WHITEBIRCH ASSOCIATES Patric de Gentile-Williams, FCA LATAM Seeded Firm: Panellists: INVESTORS 09.25 Ralph Nacey, WESTSPRING ADVISORS Ricardo Weiss, FAPES-BNDES PENSION FUND BRAZIL EXPERT FACULTY DISCUSSION Digeo Icaza, BBVA PRIVATE PENSION FUND PERÚ, AFP HORIZONTE After A Promising 2009, How Can We Ensure That Fixed Income Is 09.35 Melvin Escudero, PERUVIAN INSURANCE SUPERINTENDENCY The Darling Of 2010-2011? EXPERT FACULTY DISCUSSION What Are The Benefits & Downsides For These Different Approaches From 09.45 Asset Allocators: The Investor & Manager Perspective? EXPERT FACULTY DISCUSSION Brunello Nucci, WHITEBIRCH ASSOCIATES Moderator: Michael Landau, UOB GLOBAL CAPITAL Are Emerging Markets Decoupling From The Western Economies, Dennis Rhee, TREESDALE How Have They Stood Up To The Crisis & Can We Reconcile Liquidity With Panellists: Emerging Market Strategies? Asset Managers: Mona Aboelnaga Kanaan, PROCTOR INVESTMENT MANAGERS LLC Moderator: Ed Rogers, ROGERS INVESTMENT ADVISORS Jeff Kronthal, KLS DIVERSIFIED Patric de Gentile-Williams, FCA plus 3 Asset Managers tbc end of April 2010 Ronnie Wu, PENJING ASSET MANAGEMENT Panellist: Mikael Spångberg, SEB Ajay Jani, GRAMERCY 10.05 - YOUR SAY Q&A plus 2 Asset Managers tbc end of April 2010 10.05 - YOUR SAY Q&A

10.15 EXTENDED NETWORKING BREAK & MORNING COFFEE: GAIM INTERNATIONAL SPEED NETWORKING SESSION 3 The final of 3 fun sessions designed to enable you to meet a lot of Investors fast! You will be able to swap business cards and briefly explain your interests before moving onto the next contact. CHAIRMAN DAY 2 ADDRESS NEW INVESTOR RESEARCH 10.55 New Institutional Investor Research From US and Europe: The Evolving BUFFET LUNCH IN THE EXHIBITION AREA Landscape For Hedge Fund Products, Client Concerns, Key Selection Criteria - PLUS YOUR CHOICE OF LUNCHTIME EVENTS And New Considerations When Developing Your Distribution Strategy. Rodger Smith, Managing Director, GREENWICH ASSOCIATES (via Satellite) 13.40 -14.05 - DELEGATE QUICKFIRE FUND SHOWCASE Sponsored by Life Settlements: 11.20 The Appeal Of An Uncorrelated Asset Class In All Market Conditions Michael T. Crane, Managing Director, Capital Markets, COVENTRY CAPITAL

LEADING MINDS INTERVIEW with Live Manager Selector Feedback How Does The World’s Largest Sovereign Wealth Fund View Alternatives In Their Portfolio? Come, listen and cheer on ten brave funds with two minutes each, convincing the 11.45 Al Samper, Former Chairman, VIRGINIA RETIREMENT SYSTEM asset-allocating judges - strictly off-the-cuff with no props or Powerpoint. In Discussion With The CHINA INVESTMENT CORPORATION speaker tbc end of April 2010 Followed By: 13.30 14.05 - 14.35 - GAIM THINKPIECE Reforming The Hedge Fund / Investor Relationship Learning From A Chess Master: Applying Game Strategy To Systematic Trading Achieving Better Liquidity, Understanding Fee Flexibility & Determining What Tailored Ron Henley, RWH ADVISORS Solutions The Hedge Fund Should Be Offering The Post-Credit Crunch Investor 14.15 - 15.15 - GAIM International CAPINTRO ALLIANCE SESSIONS Moderator: Al Samper, Former Chairman, VIRGINIA RETIREMENT SYSTEM In each showcase, hear and meet five different portfolio managers from some of Panellists: 12.10 today’s top performing funds. Michael Powell, Head of Alternative Assets, USS Niels Oostenbrug, Director, Alternative Investment Programme, MN SERVICES Each fund has 10mins in total for presentation and questions Theodore Economou, Chief Executive, Pension Fund Management Unit, CERN Showcase A: Showcase B: Larry Kochard, Chief Investment Officer, GEORGETOWN UNIVERSITY UBS CAPINTRO SHOWCASE PRE-BOOKABLE SHOWCASE Gerlof De Vrij, Chief Investment Officer, APG Theme: tbc Theme: Line-Up To Be Announced End Of April Top Performing Funds & New Launches THE GAIM INTERNATIONAL 2010 Debate The final lineup to be announced end of April. 12.50 The Gap In The Curtain – How Great Minds Disagree If you have a top performing fund please Mike Novogratz, Principal & Member Of The Board, FORTRESS INVESTMENT GROUP contact [email protected] & Hugh Hendry, CIO & Co-Founder, ECLECTICA ASSET MANAGEMENT

Stream C Stream B Stream D Stream A MAKING THE MODEL WORK INVESTORS INVESTMENT STRATEGIES INVESTMENT STRATEGIES MEET THE INVESTOR Credit Achieving Best Practice Hedge Fund Operations & Commodities & Natural Resources Utilising Volatility Strategies

Investor Strategy Roundtables Efficient Volatility Trading The Commodities Boom: Will This Continue & How To Make Using VIX & VSTOXX Products To Hedge Equity & 15.15 • Each Roundtable Is Hosted By At Least One Investor The Most Of The Opportunities? Credit Portfolios • Choose Three Roundtables Per Session. Moderator To Be Announced • Roundtables Last 20 mins & Are Repeated Three Times In Joshua Spitz, BARCLAYS CAPITAL COMMODITIES Each Session Asset Allocators: Credit/Distressed – Jose Galleano, 3A Any Good Strategy x 2 TBC Hosted By: Private Bank “The Best Opportunity Of A Niels Jenson, ABSOLUTE RETURN PARTNERS Emerging Managers Hosted By: Family Office Lifetime” Redux Asset Managers: Intermediary Vehicles (FOFs/Managed With the significant rally in credit instruments since 2008, Threats & Opportunities For Offshore Domiciles Henrik Wennberg, PLENUM 15.40 Accounts/Multi-Strategy) Hosted By: Multi-Family Office how and where are managers finding attractive Speaker tbc Courtenay Wolfe, SALIDA CAPITAL CTA, Global Macro & FX Hosted By: Corporate Treasury risk-adjusted returns? BUSINESS BERMUDA Frank Holmes, MERIDIEN FUND MANAGERS Credit Strategies Hosted by: Private Client plus 1 Asset Managers tbc end of April 2010 Moderator: Peter M. Lupoff, TIBURON CAPITAL MANAGEMENT INVESTMENT STRATEGIES PRIVATE BANKING & WEALTH MANAGEMENT Asset Allocators: Environmental & SRI How Are The Winning Distribution Networks & Asset Russell E. Lundeberg, Jr, How To Perform A Due Diligence On A 16.05 Allocators Of The Future Re-Assessing Due Diligence & BARRETT CAPITAL MANAGEMENT, LLC Managed Account Platform 10 mins - GAIM THINKPIECE - Family Office Perspectives Manager Selection Strategy? Socially Responsible Investments Without Return Sacrifice Ingrid Nietsch, FRM Nathanaël Benzaken, LYXOR AM Gordon Grant Curtis, CI INVESTMENTS Moderator To Be Announced Asset Managers: Investing With A Conscience plus 5 Asset Managers tbc end of April 2010 Can Returns & Environmental Awareness Really Go Hand In Hand? Panellists Moderator: Robert Levin, EMERGING STAR VENTURES Fabrizio Ladi, REYL & CIE Exploring The Benefits Of Shared Infrastructure Asset Allocators: 16.30 Dieter Kaiser, FERI INSTITUTIONAL ADVISORS Platforms Vs Front & Back Office Systems Candice Beaumont, L INVESTMENT Gordon Grant Curtis, CI INVESTMENTS Speaker tbc Faraz Sultan, HSBC PRIVATE BANK Asset Managers: Irakli Menabde, I2BF plus 3 Asset Managers tbc end of April 2010 16.55 Afternoon Tea - USER SMART ROUNDTABLES Stream A Stream B Stream C Stream D MEET THE INVESTOR MEET THE INVESTOR MIDDLE INVESTMENT STRATEGIES EAST ALTERNATIVE ALTERNATIVES Family Offices Middle Eastern Investors INVESTORS Distressed Debt & Private Equity Leveraging Manager Relationships To Create Investment The Gulf Investment Paradigm - Understanding The Benefits Of Accessing Distressed Debt, A Showcase of Unusual Top Performing Funds Opportunities Shifting Sands, Shifting Time. Leveraged Loans & High Yield Strategies Using Private Equity What Effect Has The Global Crisis, The New Normal, And Its Structures Vintage Cars Family Office Discussion Aftermath On Gulf Investors And Their Global Allocations Moderator: Dietrich Hatlapa, HISTORIC AUTOMOBILES GROUP Moderator: And Strategies 17.25 Alberto Maria Finali, SYMPOSIUM CAPITAL MANAGEMENT Moderator: Karim Shariff, MAGLIS MANAGERS Stephen Ziff, COLLER CAPITAL Catastrophe Derivatives Dirk Lohmann, SEQUAERO ADVISORS Panellists: Panellists: Asset Allocator: Roberto Tronci, STARFIN Ghislain de Castelbajac, APPLIED BUSINESS INTELLIGENCE Maria Boyazny, SIGULER GUFF Fine Art Philip Hoffman, THE FINE ART FUND Lionel De Saint-Exupery, CDIB CAPITAL Amin Al-Rashid, AR INVESTMENT PARTNERS Asset Managers: Bernard Saint-Donat, SAINT DONAT & CO Speaker tbc, NOVAAR plus 4 Asset Managers tbc end of April 2010 plus 2 Asset Managers tbc end of April 2010 18.15 - GAIM INTERNATIONAL ’2010 Drinks Reception 20.00 W www.icbi-gaim.com • T +44 (0) 20 7017 7200 • F +44 (0) 20 7017 7807 • E [email protected] 3 KN GAIM 2010 br:FLAME A2 06 16/3/10 09:44 Page 6

Day 3 Focus: Creating A New Asset NEW UCITS & Managed Accounts Investor Summit: Allocation & Manager Selection Model NEW Fresh Perspectives For Post Crisis Investment Management Monday 14 June 2010 SUMMIT GAIM International 2010 Answering The Needs Of The Post-Crisis Investor: Day Three – Thursday, 17 June 2010 New Thinking On Liquidity & Transparency In Hedge Fund Investing Chairman’s Introduction 09.15 10.00 Registration & Morning Coffee Sassan Zaker, Head Of Alternatives, JULIUS BEAR NEW RESEARCH - Expanding Distribution Channels NEW NEW ASSET ALLOCATION RESEARCH BRIEFINGS Which New Distribution Channels Will Offer The Greatest Opportunities For THINKING! 10.30 15mins - Pension Fund Research The Hedge Fund Industry? Just How Are Pension Plans & Endowments Planning To Allocate To Alternatives Moving Forward? Joe Nicholas, Founder & Chairman, HFR Jonathan Haugh, Head Of Pension & Endowment Strategy 09.30 INVESTOR PERSPECTIVE PANEL BOFA MERRILL LYNCH GLOBAL RESEARCH Determining The Appeal & The Potential Downsides Of Investing In The New Generation 15mins - Behavioural Finance Research Of Liquid & Transparent Products. Which Products Appeal Most & Why? Exploring The Impact Of Behavioural Issues & Heuristics In Portfolio Construction Moderator: Bob Jenkins, CEO, COMBINATORICS & Former Chairman Mark Schindler, Portfolio Manager, Alternative Investments, CLARIDEN LEU 11.0 0 INVESTMENT MANAGEMENT ASSOCIATION, UK Panellists: INVESTORS BIG PICTURE ASSET ALLOCATION Olivier Couvreur, CIO & Head Of Alternatives, AA ADVISORS Determining The Role Of Alternatives In Asset Allocation Going Forward & Redesigning Your Jaime Castan, Head Of Hedge Fund Research, MAN INVESTMENTS Portfolio Strategy To Fit With The New Realities Of Current Liabilities David Miller, Head Of Alternative Investments, CHEVIOT Moderator: Dr. Nadja Pinnavaia, Founding Partner, ARITY ASSET MANAGEMENT 10.00 Panellists: REGULATORY UPDATE Danny Truell, CIO & Member Of The Executive Board, WELLCOME TRUST UCITS & Hedge Funds – The Reality Of On-Shore Regulation 11.40 Tony Broccardo, CIO, BARCLAYS PENSION FUND Grellan O’Kelly, Derivatives & Risk Management Policy Unit, Thomas Thygesen, Chief Strategist, SEB X-Asset Strategies Team, SEB FINANCIAL INSTITUTIONS AND FUNDS AUTHORISATION, IRELAND Final Panellist tbc 10mins - FOCUSSED ASSET ALLOCATION Q&A 12.05 Extended Networking Lunch INDUSTRY BRIEFING: UCITS 3 Morning Coffee - Plus: 10.50 - 11.15 GAIM THINKPIECE How do investor’s view UCITS 3? How can I fine-tune my UCITS strategy? New Research Into FOHF Manager Selection: Which investors are looking at UCITS funds? Measuring Alphas And Factor Exposures Of FoHF 10.50 Afternoon Summit Chairman: Stuart MacDonald, GEMS ADVISORS Peter Meier, Centre for Alternative Investments & Risk Management, ZURICH UNIVERSITY OF APPLIED SCIENCES & Member Of The Board, BVG-STIFTUNG DER SV GROUP PENSION FUND Exploring The First Fund Of UCITS Hedge Fund & SWISSBROKE VORSORGESTIFTUNG PENSION FUND • What has been the investor response? 13.20 • Can returns meet expectations with an extra layer of fees? Exploring New Trends In Portfolio Construction For Institutional Investors • What is the selection process for the Fund Of Fund? • Effective risk management strategies • Preferences for asset classes and geographies Jose Galleano, CIO, 3A SA & 3A ASIA LTD • Managing liquidity • Keeping an eye on liabilities UCITS IN ASSET ALLOCATION • Challenges of active management 15mins - Setting The Agenda - What Do End Investors Really Expect From UCITS Funds? Moderator: Join A Panel Of Small Family Offices & HNWI’s To Set Out Their Aims & Goals 11.10 Sorina Givelichian, Former National Director, Institutional Solutions For Investing In UCITS Funds RUSSELL INVESTMENTS Line Up To Be Announced End Of April Panellists: INVESTORS Nancy Blunk, Board Of Trustees, PERMANENT FUND ALASKA 35mins - Asset Allocator Response INVESTORS George Moss, CIO, LSU FOUNDATION • Can UCITS funds really live up to investor expectations & how? plus 2 Investors tbc end of April 2010 • Onshore vs Offshore: Can you really achieve expected returns with the increased layer of fees? • Does the regulation of UCITS 3 funds really address and mitigate operational risks? 11.50 HONING YOUR SKILLS – Special Workshop Sessions 13.40 • Can UCITS Funds really out perform hedge fund replicators? How Will The Asset Allocator Utilise UCITs..? Keeping It Real… Detecting Deception & The Perfect Pitch: Moderator To Be Announced The Art Of Rational Decision Uncertainty During Interviews Top Tips To Make You Stand Out Panellists: Making Effective Diligence & Investment Understand the psychology of Mussie Kidane, Head Of Fund Selection, PICTET Understand the way your brain Analysis buying, learn what tricks work – Thomas Fekete, Managing Director, Investment & Product, BARCLAYS WEALTH interprets risk. Learn why ‘smart’ Discover a proprietary behaviour and what doesn’t & utilise how Minka Nyberg, Executive Director, Head Alternative Investments, BANK JULIUS BEAR isn’t enough and how ‘fear and assessment methodology originally pitch checklists to reduce risk and Katia Coudray Cornu greed’ aren’t the demons you think developed in the US intelligence improve success rate Executive Vice-President, Head of Advisory Desk and Multi-Management they are! community Benjamin Ball UNION BANCAIRE PRIVÉE Denise Shull BUSINESS INTELLIGENCE BENJAMIN BALL ASSOCIATES TRADERPSYCHES ADVISORS 25mins - The Practicalities Of UCITS Mini-Workshop How To Incorporate UCITS As Part Of Your Business Strategy: The Challenges & The Opportunities 12.50 BUFFET LUNCH IN THE EXHIBITION PLUS LUNCHTIME EVENTS Marilyn Ramplin, CEO, RAMPLIN CAPITAL Founder Of UCITS FOR HEDGE FUNDS & UCITS UNIVERSITY 13.20 - 13.50 30mins - UCITS Panel Discussion DELEGATE QUICKFIRE FUND SHOWCASE Examining The Pros & Cons Of UCITs As A Business Strategy: Sponsored by 14.30 Determining The Trade Off Between Increased Distribution Opportunities & Returns Moderator: Sophie Van Straelen, President, ASTERIAS Panellists: 12.50 -13.20 Greg Taylor, Head Of European Marketing & Global Product Development, FRM Meet The Investor Lunchtables & Live Manager Selector Feedback Marilyn Ramplin, CEO, RAMPLIN CAPITAL Founder Of Come, admire and cheer on ten brave funds UCITS FOR HEDGE FUNDS & UCITS UNIVERSITY with two minutes each, convincing our panel of Eric Debonnet, Head Of Research, HDF FINANCE asset-allocating judges of their Unique Selling plus final panellist tbc end of April 2010 Proposition-strictly off-the-cuff with no props or powerpoint. Afternoon Tea - Plus: 15.35-16.10: UCITS & Managed Accounts QUICKFIRE SHOWCASE 15.25 Promote Your Fund In A Friendly, Informal Environment MANAGER POST-CRISIS THINKING IN MANAGER SELECTION 10 Slots Available For Delegates Registered To The Summit. SELECTION 40mins INDUSTRY BRIEFING: MANAGED ACCOUNTS Determining The Important Factors Impacting Manager Selection In Our Post-Crisis World & INDUSTRY BRIEFING: MANAGED ACCOUNTS Are These Changes Long Lasting? What do investors want? What structure suits your strategy best? What are the drawbacks? Moderator to be announced Which Managed Account Business Model Is Most Attractive To Investors & Why? INVESTORS Panellists: Using A Preferred Platform Or Creating One Privately With A Fund… Shakil Riaz, Managing Director & Member Of Arden Investment Committee Moderator: ARDEN ASSET MANAGEMENT Richard Tomlinson, Managing Director, TOMLINSON INVESTMENT CONSULTING Panellists: 13.50 Guido Bolliger, Chief Investment Officer, OLYMPIA CAPITAL MANAGEMENT 16.10 Nicholas Verwilghen, Partner, Member of the Executive Committee, The Institutional Perspective: Mario Therrien, SVP, Funds - Private Equity, CDPQ The Private Bank Perspective: Member Of The Investment Committee, Chief Product & Solutions Officer, EIM Minka Nyberg, Executive Director, Head Alternative Investments,BANK JULIUS BEAR Roman Berri, Portfolio Manager, Fund Of Hedge Funds The Family Office Perspective: Cedric van Rijckevorsel, Managing Director, IDS CAPITAL AXA INVESTMENT MANAGERS SWITZERLAND The Platform Perspective: Martin Gagnon, CEO, INNOCAP Reza Vahabzadeh, Head Of Hedge Fund Advisory JP MORGAN ALTERNATIVE ASSET MANAGEMENT Aligning Business & Investor Needs In A Holistic Managed Account Strategy How To Balance Meeting Investor Requirements With Ensuring You Have The Correct Managed Account Architecture In Place For Your Fund? 10mins - FOCUSSED FUND OF FUNDS GROUP NETWORKING Moderator: Richard Tomlinson, Managing Director, TOMLINSON INVESTMENT CONSULTING NEW RANDY COHEN HEDGE FUND INVESTING MASTERCLASS 16.50 Panellists: 40mins - New Academic Research Peter Coates, Investment Analyst & Head Of The European Office Identifying Key Indicators Of Out-Performing Hedge Fund Managers LIGHTHOUSE PARTNERS 14.40 Gabriel Bousbib, Head Of Managed Accounts, GOTTEX In The Evolving Financial Marketplace Martin Phipps, Head Of European Alternatives, GARTMORE Randolph B Cohen, Visiting Associate Professor, MIT SLOAN SCHOOL Kenneth Phillips, CEO, HEDGEMARK INTERNATIONAL, LLC 10mins - Q&A 20mins - FOCUSSED ASSET ALLOCATION GROUP NETWORKING Managed Account Platform Selection What Do Platforms Look For In A Fund, How Can You Get Your Fund Selected & What Are The THE GAIM OPENMINDS KEYNOTE 17.25 Benefits/Downsides To Joining A Managed Account Platform? Manager Selectors From Top Platforms: LEHMAN BROTHERS EYEWITNESS & THE UNPUBLISHED SECRETS Line Up To Be Announced End Of April 2010 The Vice President Who Blew The Lid Off Lehman Brothers. Lawrence McDonald, 16.00 The Bestselling Author Of “A Colossal Failure of Common Sense” Now Reveals What Couldn't Be 18.00 Published - EXCLUSIVE TO SUMMIT DELEGATES: Pre-Investor Dinner Drinks 20.00 Network with the Investors with your exclusive invitation to the drinks before the Investor only dinner An Insider’s Unpublished Account Of Astonishing Global Recklessness: The Implications For The Future Of Finance THE 5th ANNUAL GAIM INTERNATIONAL INVESTOR ONLY DINNER Lawrence G McDonald, Former Vice President, LEHMAN BROTHERS 20.00 End Investors - Family Offices, Pension Funds, Endowments, Corporate Treasury, Private Clients: Your Opportunity To Meet Your Peers From Around The World Prior To The Event and Compare Notes, Swap Ideas In A Friendly, 16.40 GAIM INTERNATIONAL 2010 LEAVING DRINKS Informal Environment. Places Are Limited, So Register Now

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Monday 14th June 2010 D New Monday NEW UCITS & Managed Accounts Investor Summit Summit

The Exclusive Benefits 11.40 Katia Coudray Cornu, Executive Vice-President, IDS Capital SA, he was a Senior Portfolio Manager at 3A - Bank Syz, REGULATORY Head Of Advisory Desk & Multi-Management a Geneva, Switzerland based major player in the Alternative Of Attending This UCITS & Hedge Funds – UPDATE Investment business. At 3A -Bank Syz, Cedric van Rijckevorsel ran a UNION BANCAIRE PRIVÉE USD 200 million fund of hedge funds along side multiple institutional Summit The Reality Of On-Shore Regulation investment portfolios dedicated to hedge funds. Prior to 3A - Bank • Why UCITS? What is a UCITS fund? 14.30 Syz, Cedric van Rijckevorsel was an Assistant Vice President at As well as providing a valuable opportunity fine Lombard Odier, based partly in Geneva and Hong Kong. tune your UCITS or Managed Accounts Strategy & • Comparison to AIFM learn from leading asset allocators and fund • Regulatory safeguards 25mins The Platform Perspective: managers, this new summit offers you a host of • Re-domiciliation considerations The Practicalities Of UCITS Mini-Workshop Martin Gagnon, Co-CEO, INNOCAP • UCITS IV update Martin joined Innocap in 2003. As Co-Chief Executive Officer, he exclusive benefits. How To Incorporate UCITS As Part Of Your focuses on strategic issues, hedge fund manager relations as • UCITS – product strategies and the importance Business Strategy: The Challenges & The well as business development for Innocap’s different alternative investment solutions. Innocap is a world leader in managed EXCLUSIVE BENEFIT: Meet The New of risk management Opportunities Grellan O’Kelly, Derivatives & Risk Management account platform providers for hedge fund investments. Built in Generation Of Investors Interested In Accessing Marilyn Ramplin 1996 by and for institutional investors it is now jointly owned by Policy Unit, FINANCIAL INSTITUTIONS AND National Bank of Canada and BNP Paribas. Prior to joining Hedge Funds Through UCITS & Managed CEO, RAMPLIN CAPITAL Founder FUNDS AUTHORISATION, IRELAND UCITS FOR HEDGE FUNDS & UCITS Innocap, Martin was Vice-President in the international equity Accounts During The Summit Day We Have a Grellan works in the Funds Authorisation area of the Irish Financial division of Goldman Sachs. Regulator, primarily specialising in the development and UNIVERSITY wealth of Investors & Asset Allocators Specifically Marilyn Ramplin is the CEO of Ramplin Capital and Founder of implementation of regulatory policy on derivatives, risk management 16.50 Interested In UCITS & Managed Accounts Funds and structured products. Grellan is also heavily involved in European UCITS for Hedge Funds & UCITS University. Ramplin Capital advises on risk, derivatives, safety of assets and Newcits Speaking. initiatives on fund regulation and post-trading. He is a current member of the CESR task force on UCITS Risk Measurement, structuring and distribution. The holistic safety of assets risk Aligning Business & Investor Needs In A CESR’s standing committee on Post-Trading and the EU framework developed by Ramplin Capital is an operating model Holistic Managed Account Strategy for investment managers to ensure not just return ON assets, but EXCLUSIVE BENEFIT: Be The First To Meet & Commission’s Derivatives & Market Infrastructures Member States How To Balance Meeting Investor working group. also return OF assets to investors. Previously Executive Director Network With The Whole GAIM Investor in JPMorgan Investment Bank, she was the strategic advisor to Requirements With Ensuring You Have The both European and US hedge funds and traditional asset Community. Attending The Summit Grants You An 12.05 Extended Networking Lunch managers helping managers structure and distribute UCITS Correct Managed Account Architecture In Exclusive & Rare Pass To Attend The Investor Drinks hedge funds. Place For Your Fund? Reception. It Is The Chance To Meet With All The Industry Briefing: UCITS 3 30mins Moderator: Richard Tomlinson, Managing Director Investors Attending GAIM In One Place, At One TOMLINSON INVESTMENT CONSULTING Time And Before The Other Fund Managers Arrive! How do investor’s view UCITS 3? How can I Examining The Pros & Cons Of UCITs As A fine-tune my UCITS strategy? Which investors are Business Strategy: Determining The Trade Bio can be found to left EXCLUSIVE BENEFIT: Get On Stage & Raise looking at UCITS funds? Off Between Increased Distribution Panellists: Awareness Of Your Fund In Front Of UCITS & Opportunities & Returns Peter Coates, Investment Analyst & Head Of The Managed Accounts Focussed Investors Afternoon Summit Chairman Moderator: European Office, LIGHTHOUSE PARTNERS Stuart MacDonald, Director Of Investor Relations Sophie Van Straelen, President, ASTERIAS Peter heads the European investment and research office of Attending The Summit Gives You The Opportunity GEMS ADVISORS After 15 years in banking, Sophie van Straelen founded Asterias Lighthouse Partners, based in London. He is a member of the To Sign Up & Pitch Your Fund During The UCITS & Stuart MacDonald joined Gems Advisors as Director of Investor Limited in 1999 to respond to a growing need for independent investment team, and the Relative-Value and Equity investment committees, focusing his efforts on identifying investment strategy Managed Accounts QuickFire Showcase. Relations in 2007. Prior to this, he was Director of Alternative market analysis and education in hedge funds. She is the editor of Investments at Shore Capital and Director of Hedge Funds at svs-blog.com, her dedicated blog on asset management. Sophie van opportunities, and the sourcing, analysis, and monitoring of Take The Opportunity To Present Your Fund To Our Henderson Global Investors. His earlier hedge fund experience Straelen has ben listed by Efinancial News as one of the top 100 managers in Europe. Peter has worked globally in the investment Enviable Investor Community At Our Special included positions with West Merchant Bank and Buchanan most influential women in Finance. management industry for more than 13 years, with 7 of those in the Partners. fund-of-hedge-fund sector. Prior to joining Lighthouse in 2007, Peter UCITS & Managed Accounts QuickFire Showcase. Panellists: spent 4 years as a Portfolio Manager of a range of alternative- investment funds and managers, in addition to identifying 13.20 Greg Taylor investment strategy opportunities and managers in Asia, and was a Head Of European Marketing & senior member of the executive team of an alternative-investment Answering The Needs Of The Exploring The First Fund Of UCITS Hedge Global Product Development, FRM asset management business in Australia. Fund Greg Taylor, CFA, is responsible for business development in Europe, Post-Crisis Investor: New Thinking Middle East and Australia and the development and promotion of Gabriel Bousbib, Head Of Managed Accounts • What has been the investor response? investment products globally. Previously, Greg was a Managing GOTTEX On Liquidity & Transparency In • Can returns meet expectations with an extra Director in the Alternative Asset Group at RBC Capital Markets. Mr. Bousbib currently serves as Chief Executive Officer of Gottex Greg’s other experience includes HSBC where he was an Associate Solutions Services. He is also a member of the Executive Hedge Fund Investing layer of fees? Director of the Alternative Assets Unit in the Investment Bank based Committee of Gottex. Prior to joining Gottex in June 2005, and until • What is the selection process for the Fund Of in London and previously a Business Development Manager for their December 2004, he served as President and Chief Executive Officer financial services business in the Cayman Islands. of PlusFunds, a hedge fund managed account platform. From 1996 10.00 Registration & Morning Coffee Fund? to 2001, Mr. Bousbib held a number of operating and corporate José Galeano, Chief Investment Officer Marilyn Ramplin, CEO, RAMPLIN CAPITAL development positions with the Reuters Group, including Managing 3A SA & 3A ASIA LTD Director of business development as well as Senior Vice President 10.30 Founder of UCITS FOR HEDGE FUNDS & UCITS NEW Prior to joining 3A in April 2005, José was Head of Alternative UNIVERSITY and Chief Operating Officer in the risk management division. RESEARCH Investments at Banque Cantonale Vaudoise, where he started Expanding Distribution Channels up and developed this activity during three years. Prior to that, Bio can be found above Martin Phipps, Head Of European Alternatives Which New Distribution Channels Will he was Portfolio Manager within the Lombard Odier Darier Eric Debonnet, Head Of Research & Risk GARTMORE Offer The Greatest Opportunities For The Hentsch alternative asset management group. Previously, he Management, HDF FINANCE Martin has 25 years investment experience in both portfolio Hedge Fund Industry? worked five years at Arthur Andersen in the Audit and Financial Eric joined HDF in 2005 as Deputy Chief Investment Officer – Fixed management and business management roles. Since 2000, Joe Nicholas Risk Management divisions. José holds a MSc. in Management Income and Relative Value. In 2008, he was appointed Head of Martin has had a number of business management roles, (Major in Finance) and a Master's Degree in Banking and Research and Head of Risk Management. He is a member of the including Head of International Client Service & Sales, and Founder & Chairman Finance from HEC Lausanne. Management Board and of the Investment Committee. Before joining was appointed Head of Hedge Funds in 2000. He has been HFR HDF, he worked as Chief Investment Officer for the hedge funds instrumental in growing Gartmore’s hedge fund business. He The HFR companies specialize in alternative investments, 13.40 branch of Credit Agricole Group, CPR Equalt Alternative is now the Head of Alternative Distribution, Europe. providing investment products and advisory and research Management(2001-2005) and at Calyon as Co-Head of Global Fixed services.HFR Asset Management was named Fund of Funds INVESTORS Income (2000-2001). Leader of the Year at the 2004 Hedge Fund Industry Awards. Mr. UCITS In Asset Allocation Kenneth Phillips, Founder & CEO Nicholas is author of Hedge Fund of Funds Investing (Bloomberg 15mins - Setting The Agenda - Final Panellist tbc HEDGEMARK INTERNATIONAL, LLC Press; December 2003); Market Neutral Investing (Bloomberg HedgeMark International, an US based investment advisor Press: August 2000); Investing in Hedge Funds: Revised and What Do End Investors Really Expect From specializing in managed account hedge fund platforms and 15.25 Afternoon Tea Updated Edition (Bloomberg Press: August 2005) among others. UCITS Funds? risk management systems. Between 1998 and 2008 Mr. Join A Panel Of Small Family Offices & HNWI’s To Plus: 15.35 - 16.10: UCITS & Managed Phillips was the Chief Investment Officer of RCG Capital 11.0 0 INVESTOR Set Out Their Aims & Goals For Investing In UCITS Advisors, an investment advisor specializing in the PERSPECTIVE Accounts QUICKFIRE SHOWCASE management of diversified hedge fund portfolios. Prior to PANEL Funds Determining The Appeal & The Promote Your Fund In A Friendly, Informal forming RCG, Mr. Phillips was the managing member of Potential Downsides Of Investing In The Line Up To Be Announced End Of April Environment. There are 10 Slots Available For Money Management Partners, LLC, a consulting firm New Generation Of Liquid & Transparent Delegates Registered To The Summit. providing strategic advisory services to established and start- 35mins up investment management companies in the United States Products. Which Products Appeal Most & Asset Allocator Response and abroad. Between 1984 and 1998, Mr. Phillips was the Why? • Can UCITS funds really live up to investor Industry Briefing: Founder, President and CEO of Portfolio Management Moderator: expectations & how? Consultants (“PMC International”). During that time PMC Bob Jenkins, CEO, COMBINATORICS Managed Accounts was responsible for the design, development and & Former Chairman • Onshore vs Offshore: Can you really achieve management of comprehensive, “white label”, managed a expected returns with the increased layer of What do investors want? What structure suits your account platforms for many firms including Ernst & Young, INVESTMENT MANAGEMENT strategy best? What are the drawbacks? ASSOCIATION, UK fees? Fidelity, Chase Manhattan, Republic New York Bank, and Combinatorics Capital, LLC, is a NY based hedge fund manager • Does the regulation of UCITS 3 funds really Charles Schwab. PMC grew to become the largest specializing in global macro trading strategies. Prior to his recent 16.10 independent managed accounts platform in the US, with appointment at Combinatorics, Mr. Jenkins spent 16 years in trading address and mitigate operational risks? assets in excess of US$10 billion when he left. In 1985 Mr. and 17 years in investment management. He ran trading rooms for • Can UCITS Funds really out perform hedge Which Managed Account Business Model Phillips was a founding member of the Wilshire Cooperative, Citigroup in Dubai, Bahrain, Switzerland and Japan. He then moved fund replicators? Is Most Attractive To Investors & Why? affiliated with the investment consultant firm Wilshire to the “buy side” where he ran investment management businesses Associates. Mr. Phillips has been an active member of the for Credit Suisse in Japan and UK. Between 1997 and 2009 Mr. Using A Preferred Platform Or Creating Jenkins was responsible for F&C Asset Management – first as CEO How Will The Asset Allocator Utilise One Privately With A Fund… Investment Management Consultants Association, ("IMCA") and later as Chairman. He has Chaired the Investment Management where he served as a Member of its Advisory Board for Association of the UK. UCITs..? Moderator: Richard Tomlinson INVESTORS more than a decade. Moderator To Be Announced Managing Director Panellists: TOMLINSON INVESTMENT CONSULTING 17.25 Olivier Couvreur, CIO & Head Of Alternatives Panellists: Richard has over ten years consulting and investment management AA ADVISORS Mussie Kidane, Head Of Fund Selection, PICTET experience and specialises in hedge fund investment solutions. Managed Account Platform Selection: Olivier started his career in 1992 at Capital Fund management Mussie Kidane’s team at Pictet comprises six-members and is Formerly, Richard was head of Old Mutual’s London based hedge What Do Platforms Look For In A Fund, How Can where he held different positions before being responsible for the responsible for selecting best-in-breed mangers across all asset fund managed account business and his expertise covers the research team from 1994. In 1996 he moved to Natixis' CTA and classes and caters to Pictet Wealth Management division globally. creation, management and distribution of absolute return investment You Get Your Fund Selected & What Are The was responsible for Trading and Research during five years. He The team is also responsible for selecting managers for sub-advisory products. Benefits/Downsides To Joining A Managed subsequently moved to the Fund of Funds industry and joined agreements on the behalf of Pictet funds. Besides, Mussie manages AAAdvisors in 2003 to take the charge of the Alternative a US$420 million absolute return fund-of-fund. Prior to joining Pictet Panellists: Account Platform? Investments of the company. He was later appointed Head of in 2006, Mussie was analyst & portfolio manager within the fund The Institutional Perspective: Manager Selectors From Top Platforms: Line Up To manager selection in 2005 and CIO in 2010. selection and multimanagement team at LODH & Cie. He joined LODH in 2000 as a quantitative analyst reporting to the Investment Mario Therrien, SVP, Funds - Private Equity Be Announced End Of April 2010 Jaime Castán Review Board on mutual funds and key institutional mandates. CDPQ Head Of Hedge Fund Research Mario Therrien was appointed Senior Vice-President, Fund 18.00 - 20.00 Thomas Fekete, Managing Director, Investment & Management, with the Private Equity group on June 15, 2009. In MAN INVESTMENTS this capacity, he manages the teams responsible for investments in Jaime Castán is Head of Hedge Fund Research of, Switzerland. Prior Product, BARCLAYS WEALTH EXCLUSIVE TO SUMMIT DELEGATES: Thomas’ team is in charge of developing performance driven external private equity funds, including venture capital funds in the to his current responsibilities at Man Investments’ multi-manager information technology and life sciences sectors, leveraged buyout Pre-Investor Dinner Drinks business based in Pfäffikon, Jaime was Head of Hedge Fund investment products for Barclays Wealth’s client base. There are funds and hedge funds. Mr. Therrien has a solid financial Network With The Investors with your exclusive Research of RMF Investment Management as well as Managing three main types of Investment Products under Thomas’ background. He joined the Caisse’s Alternative Tactical Investments invitation to the drinks before the Investor only Director of RMF Investment Management (USA) Corp. He was also responsibility: Structured Products, Mutual Funds and Alternative team in 1992 as a financial analyst and was successively promoted a member of the Management Committee of RMF Investment Investments. Prior to joining Barclays Wealth, Thomas was a to Assistant Manager and Manager. He was then assigned to the dinner Management. Prior to joining RMF in 2006, Jaime was Managing Managing Director at UBS Wealth Management in London position of Vice-President of Varan Tactical Asset Management, a Director and Global Head of Risk Management for Vega Asset fund specializing in global tactical investments, until 2002. Management, where he built and integrated the multistrategy risk where he coordinated the offering of investments, lending and 20.00 management infrastructure of Vega and the Vega Plus platform. tax structuring solutions after having headed the structured products group. The Private Bank Perspective: THE 5th ANNUAL GAIM INTERNATIONAL David Miller Minka Nyberg, Executive Director, Head INVESTOR ONLY DINNER Minka Nyberg Head Of Alternative Investments Alternative Investments, BANK JULIUS BEAR End Investors - Family Offices, Pension Funds, CHEVIOT Executive Director, Head Alternative Investments Bio can be found above Cheviot is among the UK’s largest independently owned BANK JULIUS BEAR Endowments, Corporate Treasury, Private Clients: discretionary investment firms, managing client assets in excess Dr. Nyberg has over ten years experience in the alternative The Family Office Perspective: Your Opportunity To Meet Your Peers From Around of £3bn. Cheviot was formed in May 2006 following the investment and fund industry. In prior functions, she worked for recruitment of 92 investment professionals and support staff family office organizations in Switzerland, and for the alternative Cedric van Rijckevorsel, Managing Director The World Prior To The Event and Compare Notes, from UBS. Cheviot typically invests in listed or tax efficient hedge investment department of UBS Private Bank. Her areas of expertise IDS CAPITAL Swap Ideas In A Friendly, Informal Environment funds and fund of hedge funds as the majority of the majority of include manager selection, fund structuring and product Cedric van Rijckevorsel, CFA is responsible for the day-to-day Places Are Limited So Register Now. their clients are onshore UK domiciled and tax sensitive management for hedge funds and private equity. investment and operating decisions of IDS Capital as well as investors. managing the long-term strategy of the business. Before founding

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DAY Day 1 – Tuesday 15 June 2010 1 GAIM International 2010 Day 1 Focus: Recalibrating The Business Model For the New Financial Decade

08.00 Registration & Morning Coffee investment industry. Prior to his investment career, Mr. 12.30 SAM’s flagship Systematic Alpha Futures Fund Ltd. employs Stirton was a senior executive with Bombardier, and a former a mix of market-neutral, high-frequency quantitative 08.45 McKinsey & Company consultant. BUFFET LUNCH IN THE EXHIBITION strategies utilizing the approach that focuses on contrarian, mean-reversion trading in a diversified mix of most liquid BRAND NEW RESEARCH 10.30 - 11.20 AREA - PLUS YOUR CHOICE OF global equity and currency markets. 24-hour trading is fully LUNCHTIME EVENTS automated, and is diversified across various markets, sub- A Redefined Hedge Fund Industry Reveals EXTENDED NETWORKING BREAK strategies and time frequencies, with an average trade Itself: & Morning Coffee: duration being 6-8 hours 12.30 - 12.50 Identifying The Key Trends To Watch Over The Next GAIM INTERNATIONAL SPEED European Focused Energy Trading 12 Months NETWORKING SESSION 1 AN AUDIENCE WITH… Søren Kjær Petersen Yariv Itah, Partner The first of 3 fun sessions designed to enable you Nassim Taleb Head of Markets CASEY, QUIRK & ASSOCIATES to meet a lot of Investors fast! An informal 20 mins Q&A session NEAS Since joining the firm in 2001, he has worked With over 20 years of commercial and trading on more than 100 projects, including projects 11.20 Challenge 2 13.00 - 13.25 knowledge Søren Kjær Petersen heads an for global industry leaders, focused specialist unrivalled team at Nordjysk Elhandel A/S firms, and startups in markets around the DELEGATE QUICKFIRE FUND SHOWCASE (NEAS) – a major Scandinavian energy world. Yariv’s client experience includes GLOBAL ECONOMIC STRATEGY Sponsored by company with 200 employees. As well as being a market corporate strategy, economic What Strategies & Opportunities Should leader in carbon emissions and alternative energy services, alignment,distribution and sales, business combinations, We Be Pursuing & How Can The Hedge NEAS have an impressive 7 year audited proprietary track capability assessment, and cost control. Yariv has substantial record in the European power markets. The NEAS Power Fund experience with hedge funds and fund of hedge funds Fund Industry Ensure That It Delivers In All launched on 1st October 2009 with seed capital from NEAS. managers. Yariv is a key member of our thought leadership team Markets & Conditions? The strategy is liquid with over 95% of underlying instruments and was the lead author of several of Casey Quirk’s key Moderator To Be Announced being exchange traded and benefits from being managed whitepapers, including: The Brave New World: Winning Product With Live Manager Selector Feedback - within Denmark, a transit country between the hydro driven Strategies for a Changing Global Market, the annual Consultant Panellists: Classic HF Strategies Scandinavian market and the thermal/nuclear driven German Search Forecast, and the quarterly Institutional Product Review. Steve Friedman Quick Fire Showcase Area - market. The history and development of NEAS’s commercial activities enables the fund to trade both markets effectively. A Managing Partner Come, listen and cheer on ten brave funds with 09.15 Challenge 1 EOS PARTNERS highly institutionalised set up and significant day one Steven M. Friedman has served as a Managing two minutes each, convincing the asset-allocating resources have proven to give this fund an edge in the Winning Business Models in Light of New Partner of Eos Partners since its formation in judges– strictly off-the-cuff with no props or European power markets. Investor and Regulatory Pressures: 1994. Eos invests in credit, private equity, and Powerpoint. public equities through various investment Asia Equity Long/Short Operating In A World Of Greater Liquidity; Adrien Gheur Transparency; Changed Fee Arrangements vehicles. Prior to co-founding Eos in 1994, he 13.30 - 14.30 was a general partner and co-head of the private investment Portfolio Manager & New Hedge Fund Structures business of Odyssey Partners between 1983 and 1993. Before GAIM International CAPINTRO SESSIONS APS ASSET MANAGEMENT Moderator: Dan Shapiro, Partner joining Odyssey, he was a vice-president at Citibank in Here we profile two Capital Introduction Adrien Gheur has 12 years of portfolio SCHULTE ROTH & ZABEL leveraged finance. Steve has a BA and MBA from the management experience. Adrien is currently University of Chicago (1976, 1977) and a J.D. from Brooklyn Showcases running parallel, straight after the part of the investment team at APS Asset INTERNATIONAL LLP Management in Singapore and specifically Dan has advised hedge funds for over thirty Law School (1983). Quick Fire Showcase. In each showcase, hear and meet five different portfolio managers from some responsible for co-managing the APS Asia-Pacific Hedge years, and he lectures and writes extensively Peter Clarke Fund. Prior to APS, he was a Portfolio Manager with on all aspects of the hedge fund business. In CEO of today’s top performing funds. Concordia Advisors in Singapore where he managed the September 2008 he also joined the London MAN GROUP PLC Deep Value Long/Short and Event Driven portfolios for the office of Lincoln Vale, a multi-product alternative investment Concordia Asia-Pacific Multi-Strategy Fund. Prior to platform. Peter joined the Man Group in 1993, ahead of Each fund has 10mins in total for presentation and the company’s flotation on the London Stock questions Concordia, Adrien was a Proprietary Trader with RMB International in London and an equity research analyst with Panellists: Exchange in 1994. He subsequently rose Showcase A: Byron Wien, Vice Chairman, through the ranks to become Head of Lehman Brothers. He began his career in the principal Corporate Finance and Corporate Affairs in 1996, was appointed SEB CAPINTRO SHOWCASE - investments division of Goldman Sachs. BLACKSTONE ADVISORY Group Company Secretary in the same year, and joined the Man Theme: SERVICES Group Board in 1997. He became Finance Director in May 2000 Opportunities In US RMBS & ABS Byron Wien is a Senior Managing Director in Strategies With A Strong Opportunity Set and Deputy Group Chief Executive in November 2005. Line-Up To Be Announced End Of April W. Gregory Drennen the Corporate and Mergers and Acquisitions Head Of US Structured Debt Team Advisory Group and acts as a senior adviser to Bernard Oppetit IMC ASSET MANAGEMENT both the Firm and its clients in analyzing Chairman Showcase B: Mr. Drennen joined IMC asset management economic, social and political trends to assess CENTAURUS CAPITAL in 2008 as a Managing Director and is the the direction of financial markets and thus help guide INDEPENDENT PRE-BOOKABLE Bernard Oppetit founded Centaurus Capital in SHOWCASE - Senior Portfolio Manager for the US investment and strategic decisions. Prior to joining Blackstone, 2000. Prior to that, Mr Oppetit joined Paribas in MBS/ABS portfolios. Prior to joining IMC Mr. Wien was Chief Investment Strategist for Pequot Capital 1979, in the Information Technology Theme: asset management, Mr. Drennen was a Senior Portfolio and before that served for 21 years as Chief (later Senior) U.S. Department, and moved to the Merchant Top Performing Funds & New Launches Manager at Clinton Group in New York. During his nearly nine Investment Strategist at Morgan Stanley. In 1995, Mr. Wien co- Banking and Finance Division in 1981. In 1987, he was See Line Up So Far & Description below years at Clinton, Mr. Drennen was in charge of all aspects of authored a book with George Soros on the legendary investor’s seconded to Paribas North America in New York, as a Risk the MBS/ABS business including residential credit securities, life and philosophy, Soros on Soros--Staying Ahead of the Curve. Arbitrage trader. In 1990, he became head of the Risk Arbitrage 13.30 - 14.30 CMBS, Commercial/Consumer non-mortgage securities, and In 1998 he was named by First Call the most widely read Department in the US, and started a European activity in 1993. CDOs. From 1994 to 2000 Mr. Drennen was a Vice President analyst on Wall Street and in 2000 was ranked the No.1 In 2000, he resigned from BNP Paribas to launch Centaurus Nordic Energy Trading at Goldman Sachs where he headed the Agency CMO strategist by SmartMoney.com based on his market calls during Capital, one of the largest European hedge fund managers, trading effort. From 1985 to 1994 Mr. Drennen was a Vice that year. Mr.Wien was named to the 2004 Smart Money Power Henrik Wennberg, Head Trader dedicated to “event-driven” and credit strategies. PLENUM POWER SURGE FUND President at Citicorp. There he traded various mortgage 30 list of Wall Street’s most influential investors, thinkers, products and went on to be Head of all Mortgage Trading enforcers, policy makers, players and market movers. He Leda Braga (A Nordic Energy Trading Hedge Fund) from 1990 to 1994. Mr. Drennen began his career in appeared in the “Thinker” category. In 2006, Mr. Wien was President The Plenum Power Surge Fund is managed by mortgages in 1983 at North American Mortgage Co. where named by New York Magazine as one of the sixteen most BLUECREST CAPITAL MANAGEMENT a highly experienced team.The dominant he worked in the construction lending department. influential people in Wall Street. The New York Society of BlueCrest Capital Management, a global alternative asset influences in the Nordic power market are the Security Analysts (NYSSA) presented Mr. Wien with a lifetime management firm with around $16 billion of assets under weather, the thermal cost production and the The final lineup to be announced end of April. achievement award in 2008. He is a Supervisory Director of management and offices in London, New York, Boston and producer's management/distribution of power. The Plenum team If you have a top performing fund please contact George Soros’ Quantum Funds. Singapore. In BlueCrest, Leda runs the Systematic Trading unit has more than 40 years of combined market experience and is especially outstanding in the areas of weather research and [email protected] Rick Sopher, Chairman, LCH with three main strategies and approximately $9 billion of assets under management. In addition to the Systematic Trading producer behaviour, arguably the two most important price INVESTMENTS NV & Managing activities, Leda oversees all of the modeling work across drivers in the Nordic power market. With consistent positive Director, LCF EDMOND DE BlueCrest’s various non-Systematic funds. Leda joined returns over the years the Plenum Power team has established ROTHSCHILD ASSET BlueCrest in October 2001 from Cygnifi Derivatives Services (a itself as one of the key players in this market and continually MANAGEMENT LTD JP Morgan spin-off). At Cygnifi she was part of the aims to stay one step ahead of the rest. Stream A: MEET THE INVESTOR Rick heads investment management of the Management Team. Capital Holdings Funds and he is Chairman of Credit 14.30 the investment advisory company of LCH, ECH and TCH. Dr Chris Jones Loic Fery, Managing Partner Rick joined the LCF Rothschild Group in 1993 and is Chief Investment Officer CHENAVARI INVESTMENT Investor Strategy Roundtables Managing Director of LCF Edmond de Rothschild Asset KEY ASSET MANAGEMENT MANAGERS Management Ltd. Prior to this, he was a partner at BDO Stoy (UK) LIMITED In Late 2007, Loïc Fery founded Chenavari • Each Roundtable Is Hosted By At Least One Hayward responsible for corporate finance investigations. He Member Of The SEB GROUP Investment Managers, a London-based Investor was with that firm from 1981 to 1993. Chris has been investing in hedge funds in a alternative manager focused on credit asset- • Choose Three Roundtables Per Session. class. Chenavari (www.chenavari.com), with Peter M. Schoenfeld, CEO, MD, & professional capacity since 1994, previously • Roundtables Last 20 mins & Are Repeated running the hedge fund of funds business at Sanlam. Prior to 500M USD AUM, has since then established itself as one of Three Times In Each Session Portfolio Manager, PSAM this, he has worked in trading and asset management the best performing credit hedge-fund managers (34% Prior to his current role, Mr. Schoenfeld served capacities at Société Générale and Crédit Lyonnais. Chris has annualized return and 6.5% volatility since inception, no Any Good Strategy x 2 as Vice Chairman of Schroder Wertheim & Co. published numerous papers on trading and risk management negative monthly performance), and is advising several Inc. from1989 through 1996 and was a and a book on hedge funds of funds, published by Wiley. He European institutional investors on credit investment Hosted by Family Office member of the Firm’s Executive Committee is a Fellow of the Judge Business School at the University of opportunities. Loic Fery has been working in credit markets since 1983. Beginning in 1978, Mr. Cambridge, where he lectures on hedge funds. Chris has a since 1996. Prior to setting up Chenavari, Loïc Fery was Global Macro x FX Schoenfeld managed the proprietary trading activities at BA in Mathematics from Oxford University and a Ph.D. in Managing Director, Global Head of Credit Markets for Hosted By Multi-Family Office Wertheim and from 1986 to 1989 he served as Managing Mathematics and Finance from the University of Cambridge. CALYON, the investment bank of the Credit Agricole group, Director of Schroder Wertheim. Prior to joining Schroder where he was responsible globally for over 230 credit Managed Futures & Systematic Trading Wertheim, Mr. Schoenfeld managed the arbitrage department 12.00 professionals in Trading, Structuring and Sales, including 85 Hosted by Private Client of White Weld & Co. for six years as First Vice President. credit traders. Plus Final Speaker To Be Confirmed THE GAIM LAUREATE ADDRESS Intermediary Vehicles x 2 14.30 - 15.30 (Fund-of-Funds/Managed Accounts/Multi-Strategy) 10.00 Crowd Behaviour & Risk Perception: Hosted by Corporate Treasury Why It Is Easier To Fool A Million Than To CTA/Systematic Trading Alexei Checklov, Portfolio Manager Energy & Environmental/Commodities NEW STRATEGIC THINKING Fool A Single Person and Head of Research Nassim Nicholas Taleb Hosted By Family Office SYSTEMATIC ALPHA The GAIM International Industry Health Principal MANAGEMENT Check 2010: Assessing The UNIVERSA INVESTMENTS L.P., Emerging Markets He earned his PhD. in Applied & Hosted By Private Client Strengthening Industry In Light Of Distinguished Professor Computational Mathematics from Princeton Investment Strategy Evolution, NYU-POLYTECHNIC INSTITUTE & University in 1995. Prior to co-founding Equity Strategies the author of THE BLACK SWAN SAM, Dr. Chekhlov worked for Wexford Management Consolidation And Rotation In The Hosted By Multi-Family Office Winners Circle Nassim N. Taleb is combination of a scholar (Quantitative Analyst, options pricing and trading), BNP of risk and model error, literary essayist, and derivatives trader. Paribas (Proprietary Trader, quantitative global fixed-income Kerry Stirton, Partner He is known for a multidisciplinary approach to the role of the futures trading, Fixed Income Swaps Desk) and TrendLogic RED MOUNTAIN CAPITAL high-impact rare event - across economics, philosophy, finance, Associates (Assistant Director of Research, global futures PARTNERS engineering, and history. He is also known for putting his ideas and equities strategies). Throughout his career in science 15.30 - 16.20 Kerry Stirton’s investment and advisory in practice with his “Black Swan” investment strategy. Taleb is, and finance, certain results of Alexei's work were published experience has included leadership positions among other books and research papers, the author of the NYT in leading physics and finance periodicals. At the present EXTENDED NETWORKING BREAK at fund of hedge fund Stellation Asset Bestseller The Black Swan: The Impact of the Highly Improbable. time, Dr. Chekhlov also serves as an adjunct professor at the & Afternoon Tea – Management, Goldman Sachs’ Global His books have more than two million copies in print, making Columbia University Mathematics Department. Systematic INVESTOR SPEED-NETWORKING Equities Group, and Sanford C. Bernstein, in New York. Mr. him the most read and most translated living essayist. He is Alpha Management, LLC (SAM) is a fully systematic, Session 2 of 3 Stirton’s research on hedge funds and multi-national currently Distinguished Professor in Risk Engineering at New quantitative short-term CTA. SAM's objective is to deliver corporations has been widely published by leading journals York University Polytechnic Institute and Principal at Universa uncorrelated absolute returns while offering superior liquidity and print media, and he is currently co-authoring a book with Investments -Black Swan Protection Protocol. terms and high degree of transparency to its investors. Professor Randolph Cohen of M.I.T. on the alternative

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DAY Tuesday 15 June 2010 1 GAIM International 2010 Day 1 Focus: Recalibrating The Business Model For the New Financial Decade

16.20 Asset Allocators: of 20-25 managers, with a bias towards investment INVESTORS Stream B: INVESTMENT STRATEGIES Miguel Tiedra, Vice-President, Head managers with assets of less than $2bn. Since inception, FAMILY OFFICES 1 of the Alternative Investment Team, OAR has had an annualised return of 7.5% with an annualised standard deviation of 4.7%. Overcoming The Disconnect Between Risk 14.30 BCV (BANQUE CANTONALE VAUDOISE) 15.30 - 16.20 & Return Miguel has Lengthy banking experience in How Are Both Large & Small Family Offices From GLOBAL MACRO fundamental equity analysis and portfolio EXTENDED NETWORKING BREAK Around The World Rethinking Their Portfolios, And management. He has been head portfolio 14.30 & Afternoon Tea - How They Wish To Invest In The Future? manager of BCV’s fund of hedge funds since May 2006. Before GAIM THINKPIECE joining BCV, he was a senior advisor for hedge funds at INVESTOR SPEED-NETWORKING Moderator: Dori Dana-Haeri, Founder/ Director Investing In An Era Of Sovereign Risk: Lombard Odier Darier Hentsch & Cie, in Geneva. Previously, Session 2 of 3 ACROSTIC What Are The Challenges? Miguel was a senior sell-side analyst on the brokerage arm of Acrostic is a small investment banking firm specialising in Dino Sola, Director Lombard Odier. 16.20 alternative asset classes. Prior to her current role, Dori was a MONACO INVESTMENT General Partner of Eden Ventures, a £130M fund investing in Laurent Chevallier early stage software technology companies in the UK and RESEARCH Head of Alternative Research & RISK MANAGEMENT & Dino Sola is the director of Monaco Investment Ireland. Dori was instrumental in raising the funds for Eden Portfolio Management DUE DILIGENCE Ventures. In addition to fund raising she had the responsibility, Research (MIR), a new firm that provides research and advisory services to institutional EUROFIN CAPITAL as part of the investment committee, for marketing due Laurent oversees the management of the EXPERT PANEL DISCUSSION diligence for investment companies. Prior to Eden Ventures investors, specializing in asset allocation, risk management, alternative investments, due diligence and firm’s multi-manager hedge fund portfolios and is in she was a seed investor actively advising start up companies, charge of developing single hedge fund strategies, Rethinking Risk Management & Good and entrepreneurs and helping them to raise follow up funds. financial market intelligence. He is also the scientific director of the Master in Financial Engineering at the International with an emphasis on Multistrategy macro funds. Mr. Chevallier was Governance Panellists: University of Monaco (IUM). He teaches several graduate previously Executive Director and Head of Manager Selection & Moderated by: Mike Hartwell Nikos Latsos, Head of Alternative courses at IUM, including a course on Hedge Fund Investments at Unigestion in Geneva, where he was in charge of a Partner Audit Services Investments, ALPHEUS ADVISORS Management and a course on Hedge fund Strategies. 12 man team of analysts and researchers managing USD 3.5 billion in Between 2004 and 2007, Nikos was a hedge fund portfolios with top decile rankings. DELOITTE Mike leads Deloitte Dublin’s multi disciplinary Managing Director at IKOS. Key functions 14.40 investment management team which provides included hedge fund portfolio & risk Asset Managers: EXPERT FACULTY DISCUSSION audit and assurance, tax, consulting and management, and strategy consulting for the 5 Asset Managers tbc by the end of April 2010 Understanding The Recent Strength Of regulatory advise to all aspects of the hedge fund business. Prior to IKOS, Nikos investment management industry. Mike's area of expertise is spent 4 years as a senior hedge fund analyst at Merrill Lynch Global Macro Strategies & How Can We 17.10 serving the investment management industry, with particular and Schroders in London. Ensure Good Performance Continues? focus on alternative investment funds and mutual funds. Mike Asset Allocators 50mins Steen Ehlern, Managing Director has also assisted a number of international financial institutions Tony Gannon, CEO, ABBEY CAPITAL Quantitative, Trend Following, CTAs & on a number of special assignments including, accounting FERGUSON PARTNERS FAMILY OFFICE Abbey Capital is a leading alternative Dr. Steen Ehlern is Managing Director of a private multi-client Global Macro Showcase investigations, risk reviews and regulatory compliance reviews. investment firm focused on managed futures Mike currently serves on the council of the Irish Funds Industry Family Office in London and Zurich and editorial advisor to the and foreign exchange. Founded in 2000, Dublin Hear from the top performing quantitative funds & Private Wealth Management magazine. He is currently advising Association along with representing the firm at the Dublin -based Abbey Capital allocates over $2 billion to understand the underlying strategies behind their meetings of the Alternative Investment Managers Association. families, U-HNWIs, family offices and specialist advisors on the the Commodity Trading Advisor (CTA) sector set-up of family office solutions, selection of multi-client family success After completing his training with Deloitte in Australia in 1995, through its multi-manager, managed accounts The final lineup to be announced end of April. Mike moved to Dublin and has since worked in Deloitte Dublin’s offices and various providers, real estate projects, hedge funds, platform. With over 20 years of experience in managed futures, family businesses, co-investments and strategic family matters. financial services group. Mike holds a commerce degree from macro and foreign exchange investment, Tony brings both a the University of Queensland and is a member of both the trading and fund management perspective. institute of chartered accountants in England and Wales and the Anthony Gordon, Principal 18.00 - 20.00 GORDON FAMILY OFFICE Gerlof De Vrij, Head of Global Tactical institute of chartered accountants in Australia. Anthony Gordon as principal of Gordon Family Office, provides Asset Allocation & Managing Director A Reception For All Delegates bespoke custom solutions by creating and striking the right Panellists optimal balance in asset allocation, wealth preservation and Absolute Return Strategies, THE GAIM INTERNATIONAL 2010 Luis Rodriguez, Chief Risk Officer growth, manager selection, idea generation, financial and estate ALL PENSIONS GROUP (APG) COCKTAIL RECEPTION MANHATTAN FAMILY OFFICE implementation, philanthropic direction, family education and In addition to his current roles Gerlof de Vrij is Luis works as a risk manager for the governance for long lasting health of people and their assets. also Chairman of EPFIF’s Benelux Advisory Manhattan Family Office (MFO). The MFO is Committee, a member of the Expert Panel of Stream C: MAKING THE MODEL WORK an advisor to a single family who holds a Egon Vorfeld, Managing Partner the Norwegian Government Pension Fund-Global and member portfolio of investment funds now totaling over THE FORUM FINANCE GROUP of the Investment Committee of the Heineken Pension Fund. In $2.5 billion in both the US and Europe. The The Forum Finance Group (FFG), a Geneva 1990 he joined ABN Amro’s Economics Department and moved 14.30 MFO advises the US portfolio, approximately $1.5 billion. The based company, founded in 1994, that provides on via Asset Management to the Dealing room as Head of Risk Management platform developed by Luis, manages the comprehensive wealth management services International Bond Research. In 1999, Gerlof became Head of REINVENTING FUND OF FUNDS risk for 30 long only mandates, 30 single strategy hedge to a global clientele. Egon has 20 years of Strategy & Research at Philips Pension Fund and in 2003 he funds and 2 multistrategy hedge fund platforms. experience in finance, holds a MSc in Business became Head of Strategy & Research of PGGM Investments. EXPERT FACULTY DISCUSSION Economics from Erasmus University Rotterdam and is a Fellow Guan Seng Khoo, Senior Director, of the Chartered Institute for Securities and Investment (UK). Asset Managers Reinventing The Value Proposition Of Fund Risk Management Mustafa Jama, Head & Of Funds In A Post-Madoff World To Give TEMASEK HOLDINGS 17.10 Chief Investment Officer, Investors Safe Access To Niche Hedge GS Khoo joined Temasek Holdings from MORGAN STANLEY ALTERNATIVE Standard Chartered Bank in May 09, where he NEW RETAIL DISTRIBUTORS & INVESTMENT PARTNERS Funds & The Opportunity To Diversify headed the global team performing all global Mustafa is head and chief investment officer of Moderated by: Kenneth Phillips, Founder & CEO risk models validation for Basel 2 and BIPRU FUND PLATFORMS Morgan Stanley Alternative Investment Partners HEDGEMARK INTERNATIONAL, LLC compliance – including AIRB credit risk models and other Pillar How Comfortably Will The New Generation Fund of Hedge Funds; he is also a Bio can be found on Page 5 1 and 2 risk models. At Temasek Holdings, he focuses on member of the Morgan Stanley AIP Fund of Hedge Funds developing novel investment, performance and portfolio risk Of Liquid & Transparent Hedge Fund Investment Committee. He joined Morgan Stanley AIP in 2004 With Expert Faculty: management metrics, applicable across the whole spectrum of Products Fit Into Traditional Retail and has more than 16 years of relevant industry experience. Omar Kodmani investment asset classes and horizons. Before joining the firm, Mustafa was a managing director and Platforms? Senior Executive Officer Plus one other panelist tbc Amy Bensted, Manager, head of manager sourcing for Glenwood Capital Investments, PERMAL INVESTMENT Hedge Funds, PREQIN LTD and was a director and portfolio manager at Deutsche Bank 15.20 - YOUR SAY Q&A Absolute Return Strategies; both are fund of hedge funds MANAGEMENT SERVICES LIMITED Amy Bensted joined Preqin in 2006 where Mr. Kodmani joined the Permal Group in managers. Prior to that, he managed client capital at Bankers 17.10 she now heads the Hedge Fund team. The 2000. Mr. Kodmani is responsible for hedge fund team conducts research into all Trust / Deutsche Bank, utilizing option strategies in equities, fixed income, currencies and commodities and also managed monitoring Permal's international investment 25mins areas of the asset class from institutional activities as well as asset gathering initiatives. Previously, he investor appetite through to fund structures Deutsche Bank's proprietary capital. Mustafa received a B.S. in Effectively Marrying Qualitative and civil engineering from Southern University, Baton Rouge and an was with Scudder Investments in London and New York for and manager compensation. Using its database of 2,500 seven years where he developed the firm's international Quantitative Due Diligence institutional investors in hedge funds and its relationships M.S. in civil engineering from the University of Southern California. He received an M.B.A. from Harvard Business School. mutual fund business. Prior to joining Scudder, Mr. Kodmani Meredith Jones, Managing Director with managers, Preqin produces unbiased and up to the worked for four years at Equitable Capital (now part of PERTRAC FINANCIAL SOLUTIONS minute research into all aspects of the hedge fund arena. Elena Ambrosiadou Alliance Bernstein). Meredith Jones joined PerTrac Financial Panellists: CEO, IKOS Solutions in December 2001. Ms. Jones Elena Ambrosiadou founded IKOS in 1991 as Maarten Nederlof, Managing currently serves as a managing director and the Mussie Kidane, Head Of Fund Selection, PICTET one of the first independent Hedge Funds in Director & Head Of Portfolio head of global marketing. Ms. Jones has Bio can be found on Page 5 Europe. Today, IKOS operates a global Solutions, PAAMCO written articles and book chapters for a infrastructure with execution sites/offices and number of financial publications, including the Borja Largo, CEO, ALLFUNDS In addition to his role at PAAMCO, Maarten research facilities in New York, Tokyo, Vienna, is a member of the Investment Management Alternative Investment Management Association Journal, ASFR ALTERNATIVE & CIO London, Cyprus and Monaco. With 70 professionals and an and Risk Management Committees. Prior to magazine, Alternative Investment Quarterly and the Managed ALLFUNDS BANK asset base of approximately $1.5bn, IKOS is listed among joining PAAMCO, Maarten held various Funds Association Reporter. Her research has appeared in The Allfunds Alternative was founded in year 2008 Europe’s 30 largest single manager Hedge Funds (Financial positions ranging from Managing Director and Global Co- Wall Street Journal, Bloomberg Wealth Manager, the Economist, and is developing relations with institutions News September 2009). The firm is a specialist in global Head of the Hedge Fund Capital Group to Global Head of the SmartMoney.com and other publications. Prior to joining PFS, worldwide. He is also the Chief Investment quantitative trading of all asset classes using strategies which Pension Strategies Group at Deutsche Bank Securities, Inc. Ms. Jones was vice president and director of research for Van Officer of Allfunds Bank where he has direct apply the scientific method to investment management. Elena and Deutsche Asset Management. In addition, he was a Hedge Fund Advisors International, Inc., a global hedge fund responsibility over the Fund Research, Portfolio Advisory and was ranked among the most influential women in the City of Managing Director and Portfolio Manager at K2 Advisors, consultant. There, she led a staff of ten research analysts in Product Specialist teams. He joined Banif (the Santander Group London and named by The Business as one of its Thirty Top LLC. manager selection, evaluation and ongoing monitoring. Ms. Private Bank) in 1999 as a fund analyst until 2000 when he Women in the City list in 2006. Elena was ranked as one of the Jones conducted quantitative and qualitative due diligence, became one of the founding members of Allfunds Bank as a Top 50 Leading Women in Hedge Funds (The Hedge Fund Cedric Kohler, Head of Hedge Fund Advisory onsite visits and portfolio construction, as well as a number of spin off of Banif´s third party fund department. Journal in association with PwC, February 2010). In 2007 and LOMBARD ODIER other research functions. 2008 Ms Ambrosiadou was listed amongst the FN 100 list of Cédric Kohler launched his professional career in 1994 at UBS. Paolo Barbieri the most influential women in European finance. IIn 2002, he was promoted to be the Managing Director for 17.35 Chief Investment Officer, PIONEER Merrill Lynch's Prime Brokerage unit margin & risk ALTERNATIVE INVESTMENTS Other Asset Managers tbc department. In 2004, he joined Citadel Investment Group in How Efficient Product Servicing Can Paolo Barbieri is Chief Investment Officer for 15.20 - YOUR SAY Q&A Chicago. Mr. Kohler then joined Lombard Odier Darier Hentsch Support Alternative Investments In A Pioneer Alternative Investments (“PAI “) Funds & Cie in 2007 and in 2008 was named Head of the Funds of Regulated Environment of Hedge Funds. He is responsible for 15.30 - 16.20 Hedge Funds team and is now responsible for the Hedge Fund managing the full range of PAI Funds of Advisory team. • Supporting asset managers through changing Hedge Funds domestic and off-shore, leading a team of 20 EXTENDED NETWORKING BREAK times investment professionals located in London, New York and Nicholas Hannan, Founding Partner & Afternoon Tea - • Moving on-shore to boost product distribution Milan. He is a member of the investment committee with & CIO, OAKLEY ALTERNATIVE • Running flexible and alternative investments responsibility for manager selection, portfolio construction and INVESTOR SPEED-NETWORKING INVESTMENT MANAGEMENT LTD risk management. Paolo has over 24 years experience within Session 2 of 3 Oakley is a steadily growing alternative asset while complying with the rules the industry. Prior to joining Pioneer Investments in 2003, Paolo management business based in London. At Vincent Beaujeu-Dumontel was Founder and CEO of Akros HFR Alternative Investments 16.20 Oakley, Nicholas manages the Oakley Institutional Sales SGR S.p.A., one of the first firms in the Italian hedge funds Absolute Return fund (OAR). Previously, CACEIS INVESTOR SERVICES industry. CTAS & SYST. TRADING Nicholas was Head of Research for LCF Rothschild (London) Vincent is a French national with over ten years' Asset Management, a fund of funds business with $3.6bn experience in the European investment Was 2009 An Atypical Year For CTAs Or AUM. Nick was involved with the selection of new industry. He has in-depth knowledge of the 18.00 - 20.00 Was It Just Part Of The Cycle & How Can managers, performed due diligence and on-going monitoring industry as a whole, and particular expertise in of managers, and also invested across asset classes. The Alternative Investment and Private Equity. Vincent is a sales A Reception For All Delegates Investors Use A CTA In A Large Diversified investment approach of the OAR fund is to always maintain a manager at CACEIS Bank Luxembourg, part of the CACEIS THE GAIM INTERNATIONAL 2010 Portfolio? focus on capital preservation, with the aim of generating banking group, dedicated to servicing institutional and corporate DRINKS RECEPTION annual compound returns of 8-10% over any five year period clients through offices in Europe, North America and Asia. Prior with low volatility and little correlation to financial markets. to this role, Vincent directed the product development of the The fund invests across asset class, strategy, style and group's hedge fund business. cyclical themes to create true diversification amongst a group

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DAY Tuesday 15 & Wednesday 16 June 2010 1&2 GAIM International 2010 Day 2 Focus: Reforming The Hedge Fund / Investor Relationship

18.00 - 20.00 Panellists: 08.45 Welcome Coffee Day Two Ajay Jani, Managing Director, A Reception For All Delegates Wednesday, 16 June 2010 Emerging Markets Portfolio THE GAIM INTERNATIONAL 2010 Stream C: MAKING THE MODEL WORK: Management, GRAMERCY Attracting Alternative Capital & DRINKS RECEPTION Ajay G. Jani, CMT manages the Gramercy 08.45 Welcome Coffee Emerging Markets Macro fund, and is also Seeding Models 15.30 - 16.20 responsible for the macro hedging of the firm’s credit portfolios. Prior to joining 09.15 EXTENDED NETWORKING BREAK Gramercy in June 2009, Mr. Jani managed a quantitative & Afternoon Tea & Session 2 of 3 Stream A: WINNING INVESTMENT emerging markets macro strategy for London Diversified GAIM THINKPIECE STRATEGIES: Emerging Markets Fund Management. From 1999 - 2005 Mr. Jani worked for INVESTOR SPEED-NETWORKING BNP Paribas, first as head of the emerging markets external Seeding In Practice Case Study: Exploring debt trading group in Europe, and then as a manager of The Reality Of The Process proprietary bank capital investing globally in emerging market Seeder: Stream D: NEW PRODUCTS 09.15 assets. Mr. Jani has also invested in emerging market Patric de Gentile-Williams, COO Liquid Vehicles & Changing Regulation securities for Banker’s Trust International in London and FRM PARTNERS To Meet Business & Investor Needs SPECIAL FOCUS ON LATIN Lehman Brothers in both New York and London. Mr. Jani has Patric de Gentile-Williams joined FCA in AMERICAN INVESTORS been active in several sovereign restructurings including August 2007 as Chief Operating Officer to 16.20 Panama, Peru, and Russia. focus on assisting new managers in Where Are We On The Evolution Towards Other Panellists To Be Announced End Of April establishing their businesses. Previously, PwC Launch Their Whitepaper On “The Greater Flexibility On Asset Allocation & Patric was CEO of PCE Investors Ltd, a Hedge Fund Platform. As founder of the business in January 2004, Patric was Regulation, Taxation And Distribution Of On Shore/Off Shore Regulations? 10.15 Hedge Funds Around The Globe” responsible for business strategy, manager selection as well Moderator: INVESTORS as risk management and day to day implementation of the A panel of experts, including Olwyn Alexander (PwC Ireland) and Al Samper EXTENDED NETWORKING BREAK Rob Mellor (PwC UK), discuss the main issues facing the hedge company’s business plan. Former Chairman Of The Board Of & Morning Coffee fund industry including the implications of the latest iteration of Seeded Firm: the AIFMD, the move to onshore products such as UCITS and Trustees GAIM INTERNATIONAL SPEED the increasing demand for transparency. VIRGINIA RETIREMENT SYSTEM NETWORKING SESSION 3 Ralph Nacey, Principal Olwyn Alexander, Partner, Al Samper is former Chairman of the Board WESTSPRING ADVISORS Mr. Nacey is a Principal of WestSpring PRICEWATERHOUSECOOPERS of Trustee of the Virginia Retirement System 08.45 Welcome Coffee and former Chairman of the Board of the Advisors, LP. Previously, he was Chief (Ireland) Virginia College Building Authority. He also serves on the Investment Officer of Brigadier Capital Olwyn Alexander is an Audit Partner and Head advisory board of the Mid-Atlantic Hedge Fund Association. Management, LLC. Prior to Brigadier, Mr. of Alternative Investment Funds Practice in Al was Director of Public Sector Marketing at Wachovia Nacey worked for Merrill Lynch, where he headed two PwC Ireland. Olwyn works with an extensive Stream B: TOP PERFORMING Securities. Before that he served as Assistant State different business efforts. First, Mr. Nacey built a North range of alternative investment clients in Treasurer, Virginia Department of the Treasury. He earned his STRATEGIES: Fixed Income American derivatives structuring desk. Second, he headed a Ireland promoted by European and US investment managers. BS in economics from Virginia Tech in 1975 and his MBA in long/short proprietary trading effort that focused on corporate Olwyn qualified as a Chartered Accountant in November 1993 finance from Virginia Tech in 1978. He is a 1990 graduate of credit and structured finance. Prior to Merrill Lynch, Mr. and obtained her Chartered Financial Analyst Charter in the Virginia Executive Institute, and the Wharton Pension Nacey worked at Credit Suisse First Boston in the November 2003. She is a member of the AIMA EMEA Regional 09.15 Fund and Investment Management Institute. Investment Banking Division, where he worked on M&A, Advisory Committee and is a director of Chartered Financial debt, and equity offerings. Analysts Institute of Ireland. Olwyn has published a number of Panellists: GAIM THINKPIECE articles on Alternative Investments, co-chaired the AIMA Guide Ricardo Weiss Charting The Rise & Rise Of Fixed Income 09.35 to Sound Practices for Hedge Fund Valuation and was a member Brunello Nucci, WHITEBIRCH ASSOCIATES of the expert working panel for IOSCO’s Principles on Hedge Investment Managing Director FAPES-BNDES PENSION FUND, Brunello has has a 40 year career in finance. He has worked EXPERT FACULTY DISCUSSION Fund Valuation. with the Bankers Trust Company, Lehman Brothers and BNL. What Are The Benefits & Downsides For BRAZIL He set up White Birch Associates 15 years ago to assist a Robert Mellor, Partner, Ricardo Weiss is Presently Investment small group of international families on strategic asset These Different Approaches From The PRICEWATERHOUSECOOPERS (UK) Managing Director at FAPES-BNDES Pension allocation and risk management. Investor & Manager Perspective? Robert Mellor is a Corporate Tax Partner and is Fund. He is also a Member of the Moderator: Michael Landau the Financial Services Tax Markets leader in the Investment Committee at ABRAPP – Brazilian Pension Fund 09.25 UK. Rob has led PwC's hedge fund and private Association and the Benchmarks Committee and Securities Co-Managing Director, UOB GLOBAL CAPITAL equity tax teams within the Investment Committee at ANBIMA - Brazilian Association of Financial EXPERT FACULTY DISCUSSION Michael Landau is the co-managing director of UOB Global Management team for the last eight years and and Capital Markets Entities. Ricardo has published several Capital which has a strong role in seeding funds. (see has taken a lead in establishing and driving PwC’s European articles in books and magazines and he has been member of After A Promising 2009, How Can We www.uobglobal.com. He has held various senior roles with alternatives tax network. Rob is responsible for a number of the Board at OI and FAPES. Previously Ricardo has worked at Ensure That Fixed Income Is The Darling Of asset management and investment banking firms in New York, asset management, private equity, hedge fund and alternative BNDES, Patrimônio / Salomon Smith Barney and Icatu Asset 2010-2011? London and Paris. Prior to co-founding UOB Global Capital in 1998, he was managing director in the AIG Global Investment investment clients and is experienced in addressing issues such Management Banks. Asset Allocators: as Fund, Management team and portfolio structuring, transfer Group based in Paris, responsible for AIG’s third party asset pricing and residency, application of the UK's Investment Digeo Icaza Brunello Nucci, WHITEBIRCH ASSOCIATES management activities in Europe and the Middle East. He Management Exemption and tax authority investigations. Chief Of Strategy & Research Bio can be found above joined the AIG group in 1991 and was chief investment officer BBVA PRIVATE PENSION FUND for the insurance companies in both Western and Eastern Dennis Rhee 16.45 PERÚ, AFP HORIZONTE Europe. He was a member of the AIG commitment committee AFP Horizonte has more than USD 5.5 billions Co-Founder & Managing Member and a board member of a number of AIG and third party Empowerment And Control: Understanding of assets under management distributed TREESDALE PARTNERS investment vehicles in Europe including mutual, real estate and The Key Benefits And Limitations Of between three diversified funds with different Dennis Rhee sits on the executive investment and risk private equity funds. management committees of the Treesdale Funds. He has over Liquidity. How Can Asset Allocators Use, risk objectives. He worked on AFP Horizonte since 2003 and is responsible for the design of the investment strategy for each twenty years of Wall Street experience in roles ranging from Panellists: Optimize And Supplement Managed fund and the asset allocation between asset groups like: management, fixed income sales and trading, derivatives Mona Aboelnaga Kanaan, President Accounts In Their Portfolio Allocations? Emerging Market equities, Fixed Income, Alternative structuring, portfolio and risk management, and the design of and CEO bond trading systems. Most recently, Mr. Rhee served as head Nicolas Hirsch Investments, and structured products. He is a voting member of PROCTOR INVESTMENT Business Development Manager the investment committee. He participates as a professor on the of Mortgage Backed Securities trading at Pedestal, the electronic trading startup sponsored by Reuters and Deutsche MANAGERS LLC AMUNDI HEDGE Lima Stock Exchange training center on Fundamental analysis, Mona oversees Proctor's strategic Risk management and Portfolio Management courses. Bank. Prior to that, Mr. Rhee worked at Deutsche Bank in MBS- Nicolas Hirsch is a Business Development TBA trading and its electronic trading efforts. development and acquisition program. Before Manager for Amundi sales teams promoting co-founding Proctor, Mona co-founded Overture the Amundi Hedge Managed Account Platform Melvin Escudero Head Of Investment Risk Supervision Asset Managers: Asset Managers, LLC. As Senior Managing Director and Head (formally known as Crédit Agricole Jeff Kronthal of Strategic Development and Acquisitions for Overture, Mona Structured Asset Management, CASAM). Previously, Nicolas PERUVIAN INSURANCE spearheaded acquisitions and partnership agreements with was in charge of Prime Broker and OTC counterparty SUPERINTENDENCY Managing Partner & Co-Chief Investment Officer affiliate and partnership firms. Previously, Mona was a Senior relationships within the managed account platform team of Mr. Escudero is an economist with more Vice President at Communications Equity Associates and prior CASAM from Sept 2005 to Aug 2007. From 2001 to Sept 2005, than 18 years of experience in portfolio KLS DIVERSIFIED ASSET to joining CEA, Mona was a Vice President and Portfolio he worked at Lyxor Asset Management where he held a similar management and institutional investments MANAGEMENT LP Manager at Siguler Guff & Company. position overlooking all prime brokerage and OTC counterparty including origination, structuring, placement and valuation of Jeff is the co-Founder and co-CIO of KLS relationships. He primarily focused on business, legal and liquid and illiquid financial products. He also has extensive Diversified Asset Management, a fixed Patric de Gentile-Williams, COO operational issues. Nicolas started his career in the alternative experience in regulation and supervision. From 2000 to 2009, income investment advisor in New York. He has over 30+ FRM PARTNERS industry at Bear Stearns International in London where he was a Mr. Escudero was the head of the Pension Fund Investments years of experience in fixed income and investment Bio can be found above hedge fund relationship manager in the prime brokerage Supervision within the Banking, Insurance and Pension Funds banking, including 17 years at Merrill Lynch. When he left department from 1997 to 2001. Prior to that, he worked in Superintendency in Peru, with regulatory, supervisory and Merrill Lynch in the summer of 2006 he was a Senior Vice Ronnie Wu, Founder & numerous financial institutions. Nicolas is a graduate from IPAG development responsibility over more than US$ 22 billion in President, a member of the firm's Operating Committee Chief Investment Officer Paris business school and holds a Master’s degree with a assets under management. Since seven months ago, he is in and was head of Global Credit, Real Estate and Structured PENJING ASSET MANAGEMENT specialisation in Bank and Insurance. charge of the investment risk supervision of the Peruvian Products in the Global Markets & Investment Banking LTD insurance industry. Among the most relevant division. In that capacity, he was responsible globally for Penjing Asset Management Ltd is a HK- 17.10 accomplishments of Mr. Escudero is the design and trading and principal investments in credit, commercial and based firm with 24 professionals. Ronnie implementation of the new regulation that allowed the residential real estate, and asset backed securities. He was focuses on hedge fund research and 25mins Peruvian multi-fund private pension system to make new also responsible for the origination activities in mortgages, selection, overall portfolio construction and macro overlay. UCITS – Hedge Funds & Their investments in alternative assets like venture capital, private asset backed and commercial real estate including As a key management partner, Mr. Wu is also responsible for Administrative Implementation: The Dark equity, real estate, infrastructure, project finance and hedge commercial real estate investment banking. In addition, Jeff the overall business direction of Penjing. Mr. Wu was the co- funds; which is considered to be one of the most modern was responsible for many of the investment and lending founder of Vision Investment Management Ltd (VIM) in June Side Of The Moon and advanced regulations in the emerging market world. activities in the Merrill Lynch Bank Group, including Serge Dollendorf 2000. As Head of Investment, he led a team of 8 investment investment and mortgage portfolios. He also co-headed professionals, composed of 6 research analysts, a Director Legal/Set-Up Plus one other panelist tbc Merrill Lynch's middle-market lending business called quantitative analyst and a risk manager. In this capacity, he ALCEDA FUND MANAGEMENT Merrill Lynch Capital. Jeff previously headed Global Debt oversaw all investment related activities, such as due Serge has been the Director of Set Up & Legal 09.45 and Credit Derivatives which included Commodities and diligence, manager selection, asset allocation, portfolio for ALCEDA FUND MANAGEMENT S.A. since U.S. Liquidity businesses. He also has headed the firm’s construction, performance analysis, and risk management. 2007. this role involves the setting up of EXPERT FACULTY DISCUSSION Global Debt eCommerce business and it's Structured undertakings for collective investments Are Emerging Markets Decoupling From Transaction Review Committee. Prior to Merrill Lynch, Jeff Mikael Spångberg, Head Of The (UCITS/UCI), investment companies in risk capital (SICAR) and The Western Economies, How Have They was Head of Fixed Income at L.F. Rothschild and a member Alternative Investment Team, SEB specialised investment Funds (SIF) EU-wide Notification of the firm's Executive Committee. Jeff started his career Since 2007, Mikael Spångberg has been the procedures. Serge has also been a Director of ALCEDA STAR Stood Up To The Crisis & Can We Reconcile at Salomon Brothers as one of the initial members of the head of the alternative investment team Issuing of Luxembourg based issuer risk free certificates since Liquidity With Emerging Market Strategies? firm’s Mortgage Department, where he served as a within SEB. The team has a long history of 2007. Prior to that he was responsible for the Set Up/Legal & Moderator Managing Director. seeding and incubation hedge fund Distribution at DZ Bank International between 2005-2007. Ed Rogers managers. His team also manages a couple Other Panellists To Be Announced End Of April of alternative investment strategies e.g. two funds with a 17.35 CEO & CIO dedicated market neutral focus. Mikael has been active in ROGERS INVESTMENT ADVISORS 10.05 - YOUR SAY Q&A the alternative industry during the last 10 years. He started NEW GAIM THINKPIECE Ed Rogers is CEO of Tokyo headquartered his career at the equity finance desk and since then he has Rogers Investment Advisors and is an Asian 10.15 had several senior positions within the banking industry Re-Aligning Your Strategy To Meet With expert. Mr. Rogers Asian career began in 1987 including senior credit analyst and portfolio manager. Investor Needs: Which Product Appeal To when he was awarded a Princeton in Asia Fellowship. Mr. EXTENDED NETWORKING BREAK Rogers worked in Tokyo for two years at NKK, formerly the 10.05 - YOUR SAY Q&A The Investor Now & Why? second largest steel company in Japan, followed by eight & Morning Coffee Speaker tbc years at MW Marshalls in Tokyo and Hong Kong working in GAIM INTERNATIONAL SPEED currency forward swap trading. RIA advises on the Wolver Hill NETWORKING 10.15 18.00 - 20.00 Japan Multi-Strategy Funds that invest solely in Japanese Hedge Funds. SESSION 3 EXTENDED NETWORKING BREAK A Reception For All Delegates & Morning Coffee THE GAIM INTERNATIONAL 2010 GAIM INTERNATIONAL SPEED DRINKS RECEPTION NETWORKING SESSION 3

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DAY Wednesday 16 June 2010 2 GAIM International 2010 Day 2 Focus: Reforming The Hedge Fund / Investor Relationship

10.55 Theodore Economou 14.15 - 15.15 Panellists: Chief Executive Officer Roberto Tronci NEW INVESTOR RESEARCH CERN PENSION FUND Showcase A: Chief Investment Officer New Institutional Investor Research From Theodore Economou, CFA, is chief executive of UBS CAPINTRO SHOWCASE STARFIN US and Europe: The Evolving Demand the pension fund management unit of CERN, Roberto has been working at Starfin since 2000 the European Organization for Nuclear Landscape For Hedge Fund Products, 14.15 - 15.15 at Starfin. He started as an Investment Officer Client Concerns, Key Selection Criteria And Research, based in Geneva, Switzerland. The and then, 2003, became the Chief Investment fund has approximately 4 billion Swiss Francs in assets, Showcase B: Officer. Starfin is the Family Office of one of New Considerations When Developing managed both internally and externally. CERN, funded by 20 the most reputable European Industrial Families and it is mainly Your Distribution Strategy European member states, is the world's leading laboratory for AN INDEPENDENT SHOWCASE focused on Investments (traditional and Alternatives), Tax & particle physics and currently operates the world's most Rodger Smith Theme: Top Performing Funds & New Legal and Corporate Finance activities. Starfin employs 13 Managing Director powerful nuclear particle accelerator. Prior to joining CERN, Mr. people and provide its services also to other HNWI and/or GREENWICH ASSOCIATES Economou spent 16 years with New York-based ITT Corporation. Launches families. Previously, from 1999 to 2000, Roberto served as a Senior Portfolio Manager (Bonds and Equities) at Banco di Desio (via Satellite) Larry Kochard, Chief Investment The final lineup to be announced end of April. At Greenwich Associates, the international If you have a top performing fund please contact (Bloomberg: BDB IM) and prior to that he worked for 5 years as Officer, GEORGETOWN Proprietary eurobonds dealer and Government Bonds trader, business strategy consulting firm, Rodger is the UNIVERSITY [email protected] senior consultant in the firm’s investment cash and derivatives, within the Banca Popolare di Milano In addition to serving as CIO, Larry Kochard Group (Bloomberg: BPM IM). management practice, covering the pension markets in the teaches investment courses for the United States, the United Kingdom, continental Europe, and McDonough School of Business at Stream A : MEET THE INVESTOR Lionel De Saint-Exupery Canada. Before joining Greenwich Associates in 1976, Rodger Georgetown. Previously, Larry was Managing President & Co-Founder was Vice President of investments for Allis-Chalmers, where he Director of Equity and Hedge Fund Investments for the Virginia CDIB CAPITAL managed the firm’s pension fund and managed equity assets Retirement System and Adjunct Professor of Finance for the 15.15 internally, and supervised a group of external investment CDIB Capital (International) Corporation is the McIntire School of Commerce at the University of Virginia. Prior investment arm of China Development management firms and custody banks. As a consultant at to joining VRS, he was a full-time faculty member at UVA. His INVESTOR STRATEGY ROUNDTABLES Greenwich Associates, Rodger has worked with investment Financial Holdings controlled by the Koo teaching has included courses in investments, fixed income and • Each Roundtable Is Hosted By At Least One family. Prior to CDIB Capital, Lionel was as a managers in the United States for nearly 30 years on overall corporate finance. Before his return to academia, Larry Investor strategy, product positioning and articulation, strategies to senior investment banker at Lehman Brothers where he accumulated over ten years of experience in corporate finance • Choose Three Roundtables Per Session. worked on more than US$25 billion of M&A and Capital improve service to clients, and franchise building initiatives in and capital markets, most recently as Vice President with local markets and globally. • Roundtables Last 20 mins & Are Repeated Markets transaction. Prior to Lehman Brothers, Lionel was a Goldman Sachs. member of the Global M&A practice of Booz-Allen & Three Times In Each Session. 11.20 Hamilton. Lionel is a Director of Ecofin, Cube Capital and Gerlof De Vrij, Head of Global Tactical Asset Any Good Strategy x 2 TBC SEP. He also serves on the advisory boards of a number of Allocation & Managing Director Absolute Return INVESTORS Life Settlements: The Appeal Of An Hosted By Private Bank funds including AIF, Carlyle Asia Partners, CX Partners, Strategies, ALL PENSIONS GROUP (APG) Emerging Managers Samara Capital and Tenaya. Uncorrelated Asset Class In All Market Bio can be found on Page 7 Conditions Hosted By Family Office Bernard Saint-Donat The convergence of insurance and capital markets 12.50 Intermediary Vehicles (FOFs/Managed Founder presents institutions with an opportunity to access Accounts/Multi-Strategy) SAINT DONAT & CO THE GAIM INTERNATIONAL 2010 Debate Hosted By Multi-Family Office Bernard Saint-Donat was trained as a professional a thriving market for longevity and mortality risk. mathematician. He studied at the University of Paris and at The fastest growing segment of this market The Gap In The Curtain – How Great Minds CTA, Global Macro & FX the Institute of Advanced Scientific Studies in Bures-sur- centers around life settlements. Disagree Hosted By Corporate Treasury Yvette, France, before going to Harvard University as • Overview of the US life insurance market Mike Novogratz, Principal & Member Credit Strategies Research Fellow. He holds a Doctor ès Sciences degree (Habilitation) from the University of Paris-Orsay. He held • The evolution of life settlements Of The Board, FORTRESS Hosted by Private Client INVESTMENT GROUP academic positions at Columbia and then Yale University, • Opportunities for counterparties in the US where he taught courses and directed PhD theses. Mike Novogratz is a principal and a member of 16.05 longevity asset class the board of directors of Fortress Investment Subsequently, Bernard Saint-Donat joined the Lehman • The role of a provider, structurer and servicer Group LLC and Co-Chief Investment Officer of PRIVATE BANKING & WEALTH Brothers investment banking division in New York before the Fortress Macro Fund and the Drawbridge going to Lazard Frères in New York, where he held various Michael Crane MANAGEMENT investment banking and principal investment positions for Managing Director, Capital Markets Global Macro Fund. Mike joined Fortress in 2002 after an 11- year career at Goldman Sachs where he was elected partner in How Are The Winning Distribution over fifteen years. COVENTRY CAPITAL 1998 and was the head of trading and risk management for Based in Coventry’s London office, Mr. Crane Networks & Asset Allocators Of The Future fixed income, currency and proprietary risk in Asia from 1995- Re-Assessing Due Diligence & Manager 18.15 - 20.00 plays a senior role in the global expansion of 1999, and the president of Goldman Sachs, Latin America. Mr. Coventry’s industry-leading longevity Novogratz received a BA in Economics, Princeton University, Selection Strategy? GAIM INTERNATIONAL ’10 Drinks distribution platform and is responsible for and previously served in the US Army Moderator To Be Announced developing strategic relationships with capital markets firms Reception throughout Europe. Mr. Crane joined Coventry from Deutsche & Panellists Bank AG where he served as a Managing Director and Global Hugh Hendry, CIO & Co-Founder, Fabrizio Ladi Bucciolini, Senior Fund Stream B: INVESTMENT STRATEGIES: Head of Distribution for the bank’s longevity derivatives ECLECTICA ASSET MANAGEMENT Manager – Alternative Strategies business. Previously, he was with Gen Re Securities, a Hugh co-founded Eclectica Asset Fund (ASF), REYL & CIE Credit subsidiary of Berkshire Hathaway, as well as Credit Suisse First Management in 2005 and leads the Fabrizio Ladi Bucciolini joined REYL & CIE in Boston and Barclays Capital. management of the FSA authorised Agriculture, Europe and Continental 2008 to develop the Alternative Investment 15.15 11.45 European equity UCITs funds as well as The selection and to manage the Reyl Alternative Eclectica Fund, a global, multi-asset hedge fund founded in FoF. Before joining REYL & CIE, he was a Credit/Distressed – “The Best Opportunity LEADING MINDS INTERVIEW 2002. Having started his career at Baillie Gifford, Hugh left Managing Partner at SAR AG, an independent asset management firm based in Zurich, specialized in alternative of a Lifetime” Redux How Does The World’s Largest Sovereign to become an associate director of CSAM, leaving there in With the significant rally in credit instruments 1999 to become a partner of Odey Asset Management investments. He was a member of the investment and Wealth Fund View Alternatives In Their management committees, in charge of manager due since 2008, how and where are managers finding diligence. Portfolio? 13.30 attractive risk-adjusted returns? Al Samper, Former Chairman, VIRGINIA Dieter Kaiser Moderator: RETIREMENT SYSTEM BUFFET LUNCH IN THE EXHIBITION Director Investment Management Peter M. Lupoff Bio can be found on Page 8 AREA - PLUS YOUR CHOICE OF FERI INSTITUTIONAL ADVISORS Founder, CEO and Portfolio Manager, In Discussion With The Dieter is responsible for managing hedge funds TIBURON CAPITAL MANAGEMENT CHINA INVESTMENT CORPORATION LUNCHTIME EVENTS portfolios and the selection of funds of hedge Peter formerly was a Managing Director at Details to be announced end April 2010 funds as well as commodity funds. From 2003 Millennium Management, the New York 13.40 -14.05 to 2007 he was responsible for institutional based Multi-Strategy hedge fund where he 12.10 research at Benchmark Alternative Strategies GmbH in managed a portfolio of investments in distressed and special DELEGATE QUICKFIRE FUND SHOWCASE Frankfurt, Germany. Feri is manages around USD1bn of situations. Previously he was Managing Director and Senior Alternative Assets. Reforming The Hedge Fund / Investor Sponsored by Portfolio Manager of the Robeco WPG Distressed Special Relationship Achieving Better Liquidity, Faraz Sultan, Managing Director, Situations Fund. During the course of Peter's more than Understanding Fee Flexibility & twenty-year investment career, he can be credited with Global Head of Advisory Services initiating some of the meaningful advances that have taken Determining What Tailored Solutions The Alternative Investment Group place in the distressed and high yield markets. Hedge Fund Should Be Offering The Post- HSBC PRIVATE BANK Credit Crunch Investor with Live Manager Selector Feedback. Come, Faraz joined HSBC Private Bank early in 2006 to Asset Allocators: listen and cheer on ten brave funds with two set up and run its Hedge Fund Advisory Russell E. Lundeberg Moderator: business in London. He relocated with the Al Samper, Former Chairman, VIRGINIA minutes each, convincing the asset-allocating Jr, Principal & Chief Investment Bank to Geneva in mid 2007, initially has co-head of the Geneva Officer RETIREMENT SYSTEM judges– strictly off-the-cuff with no props or desk and then subsequently taking global responsibilities for the BARRETT CAPITAL MANAGEMENT, Bio can be found on Page 8 Powerpoint. HSBC Hedge Fund Advisory business. Prior to that he spent a number of years at Atlas Capital, a boutique alternative fund of LLC Panellists: Followed By: funds manager as an analyst and portfolio manager responsible Mr. Lundeberg has overall responsibility for Michael Powell for hedge fund investments with respect to their Wealth developing and implementing the investment strategy for member families. Responsibilities include Head of Alternative Assets, 14.05 – 14.35 Management business. oversight of due diligence, manager selection, top-down UNIVERSITIES SUPERANNUATION GAIM THINKPIECE 16.55 Afternoon Tea strategy research, and portfolio management. Mr. Lundeberg SCHEME (USS) has nearly 15 years of experience in the alternative Mike joined the Universities Superannuation Learning From A Chess Master: Applying investment industry. Barrett Capital Management, LLC is a Scheme (USS) in September 2006 as the Game Strategy To Systematic Trading private multi-family office that allocates investment capital to Head of Alternative Assets to build the 17.25 external managers across a broad range of strategies and Ron Henley, International Grandmaster Of Chess INVESTORS alternatives investment programme. USS is the second & President, RWH ADVISORS asset classes. largest pension fund in the UK with approximately £26 billion As President of RWH Advisors, International Grandmaster FAMILY OFFICES 2 in assets under management for UK Universities. USS has Ron Henley acts as Special Consultant to Ultra High Net Ingrid Neitsch targeted a 20% allocation of total assets into alternatives Director Worth Individuals and Family Offices. From 1985 thru 2001, Leveraging Manager Relationships to over the medium term and currently has approximately £2 Mr. Henley was an American Stock Exchange Member, as a FINANCIAL RISK MANAGEMENT (FRM) billion invested across private equity, infrastructure, hedge trader, market maker and specialist, Mr. Henley traded Create Investment Opportunities Ingrid Neitsch manages investments in Credit managers at funds and commodities. Prior to joining USS, Mike spent the extensively in Phillip Morris, Wells Fargo and Teva Moderator: Financial Risk Management (FRM), a global fund of hedge majority of his career at Shell Pensions Management Pharmaceutical. He recently served as Head of Execution for funds group managing $9 billion. Ingrid is responsible for Services Limited in a variety of investment roles, latterly as Alberto Maria Finali a New York based high frequency news driven strategy with Founder & Managing Director, FRM's $2 billion allocation to credit strategies and advises on the Head of Strategy. connectivity to the execution algorithms of Goldman Sachs FRM's credit sector funds, including FRM Credit Alpha, a SYMPOSIUM CAPITAL Niels Oostenbrug and Credit Suisse. Mr. Henley is a FIDE International London-listed fund, and FRM Credit Strategies and FRM MANAGEMENT Long-Short Credit, FRM's open-ended portfolios. Previously Director, Alternative Investment Grandmaster of Chess and has won international events in Columbia, Mexico, Switzerland and Indonesia Mr. Henley In 2006, Mr. Finali founded Symposium Capital she was a management consultant at Central Europe Trust Programme, MN SERVICES was Chief Trainer to World Chess Champion Anatoly Karpov Management LLC, an alternativeasset and held investment and trading positions at firms including Niels Oostenbrug is the head of alternative for nine World Championship matches throughout the 1990s. management concern catering to established North American HSBC, Credit Suisse and Barclays. investments at Mn Services. He joined MN and European family offices with the mandate to invest Services in 2002, where today he is 14.15 - 15.15 primarily, but not exclusively, alongside private equity sponsors Asset Managers: responsible for all its alternative investments, and hedge fund managers. Mr. Finali developed specific Panellists To Be Announced End Of April including private equity, infrastructure, commodities, hedge GAIM International investment strategies in a wide array of asset classes, managing funds, gtaa and special investments. Niels started his career portfolios of both liquid and illiquid investments. From 2003 to trading derivatives and bonds, before he joined the asset CAPINTRO ALLIANCE SESSIONS: In each showcase, hear and meet five different 2005, Mr. Finali founded and co-managed Southaven Investors 16.55 Afternoon Tea & management department of Fortis Bank in 1998. LLC, a value oriented hedge fund. Prior to that, Mr. Finali spent portfolio managers from some of today’s top fifteen years at Lehman Brothers Inc., both in New York and in USER SMART ROUNDTABLES performing funds. Each fund has 10mins in total London as a senior member of the Merchant Banking and M&A for presentation and questions groups, respectively.

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DAY Wednesday 16 June 2010 2 GAIM International 2010 Day 2 Focus: Reforming The Hedge Fund / Investor Relationship

15.40 Asset Managers: Asset Managers: Stream B: MEET THE INVESTOR: Henrik Wennberg, Head Trader Irakli Menabde, Fund Manager,Partner, I2BF Middle Eastern Investors 25mins PLENUM POWER SURGE FUND Previously, Irakli worked as a portfolio manager at Shell Asset Threats & Opportunities For Offshore Henrik Wennberg has been managing capital Management Company, the asset management arm of Royal in the Nordic Power Market since 1997. Dutch Shell plc, where he was responsible for creating, 17.25 Domiciles Speaker tbc, BUSINESS BERMUDA Wennberg is an expert on Atlantic and implementing and monitoring a diverse number of active, European weather patterns and their impact quantitative and thematic investment strategies in long/short The Gulf Investment Paradigm - Shifting on the Scandinavian hydrological balance. equity context in excess of 1B USD exposure. Georgian- 16.05 Sands , Shifting Time. Has invested more than 40 000 hrs studying 70 years of Danish, Irakli holds an MSc in Energy, Trade and Finance from What Effect Has The Global Crisis , The 25mins data. He has a superior understanding of the underlying Cass Business School, London, and another MSc in Finance New Normal, And Its Aftermath On Gulf fundamental parameters of the NordPool market. Wennberg & Strategic Management from Copenhagen Business School, How To Perform A Due Diligence On A Managed started developing his market approach by back testing more Denmark. Irakli is also a holder of BSc in International Investors And Their Global Allocations And Account Platform than 50 years of weather data in the late 1990‘s. He later Economics and BA (ASB in Denmark / HKUST in China) in Strategies Nathanaël Benzaken solidified his ideas into a well defined trading methodology addition to his studies of International Political Economy at Moderator: Karim Shariff, Founder Head of Managed Account and he has been successful in delivering positive LSE in London. MAGLIS INVESTMENT Development performance consistently over the last 13 years. Henrik MANAGEMENT LY XO R earned a B.A., Cum. Laude degree in International Affairs at Other Panellists To Be Announced End Of April Majlis Investment Management is a Gulf- Nathanaël Benzaken is Head of Managed Northern Arizona University. based, innovative, independent, privately- Account Development for Lyxor, overseeing 16.55 Afternoon Tea & owned, investment firm with a deliberate focus its strategic development on a global basis. Courtenay Wolfe, President & Chief on providing multi-strategy, multi-asset class Nathanaël joined Lyxor in March 2001 as head of the Executive Officer, SALIDA CAPITAL USER SMART ROUNDTABLES investment capabilities to substantial public and private clients Long/Short Equity desk. He was promoted to Managing As President and Chief Executive Officer of across the Middle East, Africa, and Asia. MAJLIS is an Arabic Director and Head of the Hedge Fund Research and Salida Capital, Courtenay oversees existing term meaning gathering or assembly and the Firm’s goal is to Selection department in January 2005, where he was in business lines and the strategic direction of the Stream D: assemble a number of like-minded regional clients—with similar charge of the construction and management of the managed company. Courtenay joined Salida Capital as a ALTERNATIVE ALTERNATIVES investment goals, liability and liquidity concerns, wealth account platform, including due diligence, selection and risk Managing Director in March 2008 and was later preservation goals, and investment horizons—so as to provide a management of hedge funds. He was appointed Head of elected to President and Chief Executive Officer in October that sophisticated, full-service, cost effective, specialist investment Managed Account Platform Development in June 2009. Prior same year. Courtenay brings over 16 years of business A Showcase Of Unusual Top experience to Salida along with a successful track record in the platform. Mr. Shariff was formerly a senior professional within to joining Lyxor, he was Manager of the Financial Risk Performing Funds the Principal Investments Division, the proprietary, multi-strategy consulting division at Andersen (Luxembourg) and Treasurer areas of leadership, corporate strategy, and business investment arm, within SHUAA Capital—a UAE-based at Crédit Agricole for three years. Nathanaël graduated from development. Prior to joining Salida Capital, Courtenay was Vintage Cars investment banking firm established in 1979 and regulated by Marseille Business School (France) and holds a Master’s Senior Vice President of Tricycle Asset Management, one of Canada’s largest private alternative investment management Dietrich Hatlapa, Founder the United Arab Emirates Central Bank and listed on the Dubai degree in Finance from Toulouse University (France). HISTORIC AUTOMOBILES GROUP Financial Market. companies. Courtenay joined the firm in its infancy in 2002 and 16.30 was instrumental in building the firm’s assets from under $100 INTERNATIONAL Panellists million to more than $1 billion in less than 3 years. In 1996, Dietrich Hatlapa is the founder of Historic INVESTORS Ghislain de Castelbajac 25mins Courtenay was brought in to head up Dell Canada’s online Automobile Group International (HAGI) and Managing Partner business division. By 1998, she had grown it into the largest e- has been developing its HAGI classic car index Exploring The Benefits Of Shared commerce business in Canada and 50% of Dell Canada’s universe since 2007 together with his partners APPLIED BUSINESS INTELLIGENCE Infrastructure Platforms Vs Front & Back revenues. from the financial industry and the classic car sector. He has Mr. de Castelbajac has 14 years of experience Office Systems 18 years experience in finance as a Managing Director at in consulting and advising for governments, Frank Holmes, CEO, CIO, U.S. Baring Securities, ING, Macquarie and later in managing his international organizations, sovereign funds, GLOBAL INVESTORS, INC., & own fund. Dietrich has been collecting and racing historic semi-sovereign family offices and large Speaker tbc Investment Team Leader automobiles since 1993. corporations in the Middle East, Latin America and Europe. He was a member of the French Prime Minister.s National Security MERIDIAN GLOBAL FUNDS 16.55 Afternoon Tea & U.S. Global Investors is a registered investment Catastrophe Derivatives Council (SGDN) as a Chargé de Mission from 1996 to 1998, and adviser that manages approx. $2.5 billion in 13 Dirk Lohmann reported to SGDN.s Council.s daily briefings on various classified USER SMART ROUNDTABLES no-load mutual funds and hedge funds; the Managing Partner trans-national economic and political issues. He lived five years Meridian Global Resource Funds. The company has extensive in Abu Dhabi from 2000, serving as a special advisor for the SEQUAERO ADVISORS Stream C: INVESTMENT STRATEGIES expertise in managing natural resource portfolios and Federal Government of the United Arab Emirates. In Abu Dhabi Dirk Lohmann is Managing Partner of established the first no-load gold fund in the U.S. in 1974. U.S. he was co-founder of a dedicated systemic risk analysis model Secquaero Advisors Ltd., a specialist boutique Global Investor’s funds have won more than two dozen Lipper dedicated to the regional banking system, and trained senior DISTRESSED DEBT & PRIVATE EQUITY based in Freienbach, Switzerland focussed on Fund Awards for consistent performance since Mr. Holmes governmental officials. Mr. de Castelbajac is now based in Dubai insurance risk securitization and enterprise risk became CIO in 2000. In 2006 Mr. Holmes was named since 2005, advising governmental and semipublic Understanding The Benefits Of Accessing management issues relating to the optimal and most efficient “International mining fund manager of the year” by Mining clients on large projects. management and due diligence. He is Distressed Debt, Leveraged Loans & High use of capital. Secquaero launched its first ILS fund in May Journal. He is co-author of: “The Goldwatcher: Demystifying a partner in Dubaibased consultancy firm ABI. Yield Strategies Using Private Equity 2008. Dirk Lohmann has over 29 years of management, Gold Investing", and a regular guest commentator on CNBC, underwriting and consulting experience in the insurance and Amin Al-Rashid, CEO Structures Bloomberg and CNNfn. reinsurance industry. He worked at several leading companies in AR INVESTMENT PARTNERS Moderator: senior capacities (Hannover Re (EVP), Zurich Financial Services Mr. Al-Rashid works with Family Offices, Stephen Ziff Plus other panelist to be confirmed (Group Executive Board), Converium (CEO)). During his career, including Royal Families in the Middle East Investment Principal he was a pioneer in developing insurance-linked capital market and financial institutions globally on their 16:05 products. This resulted in a number of firsts; namely, the first COLLER CAPITAL transfer of catastrophe event risk to investors in the form of private equity investments. Mr. Al-Rashid Stephen is an Investment Principal was formerly the Head of Private Equity for ENVIRONMENTAL & SRI insurance linked notes through a private placement in 1994 responsible for origination, execution and (Kover), the first inclusion of aviation risk in an insurance linked the Family Office for the Ruler of Dubai, and has co-invested monitoring of secondary investments. In alongside several sovereign wealth funds and institutional securitisation (K-2 Swap 1996), the first multi-peril, multi-region addition to LP fund portfolios, he is responsible for many of 10mins catastrophe bond (Trinom 2001) and the first multi-peril, multi- investors globally on several billion dollar private equity the firm’s secondary direct transactions. investments. Prior to that he managed the private equity GAIM THINKPIECE region second event only catastrophe bond (Helix 04). Family Office Perspectives Socially investments for a number of high net worth families in Asset Allocator: Fine Art Europe, out of London. Maria Boyazny, Managing Director Responsible Investments without Return Sacrifice Philip Hoffman, CEO Speaker tbc, NOVAAR and Portfolio Manager, THE FINE ART FUND GROUP SIGULER GUFF Gordon Grant Curtis, Portfolio Manager & The Fine Art Fund was the first fund of its type Siguler Guff & Company, a New York-based Executive Director, CI INVESTMENTS to invest in art as an asset class worldwide. CI Investments is a Single Family Office allocated for up to 1 18.15 - 20.00 private equity firm with assets under Since the launch of the first fund, Philip has management of more than $7.5 billion. She billion Euros for targeted capital deployments. The SFO uses overseen the launch of The Fine Art Fund II, The GAIM INTERNATIONAL ’10 Drinks oversees Siguler Guff's flagship Distressed Opportunities Fund, unique direct investment strategies that have resulted in double- Chinese Fine Art Fund and The Middle Eastern Fine Art Fund. digit returns or higher since 2004. Under the third party Reception which has assets under management of more than $4 billion Philip has worked in the art world for twenty years and is the and is one of the largest institutional fund-of-funds focused on leadership of Gordon “Grant” Curtis, the office has amassed founder of The Fine Art Fund. Previously, he spent over a distressed and turnaround investing around the world. Boyazny considerable new wealth in addition to its previous asset base. decade working for Christie’s, which he joined from KPMG and Stream C designs fund strategy, identifies investments and negotiates Through a combination of market neutral strategies and short- at 33, he became the youngest member of the Christie’s terms and conditions. She is a member of Siguler Guff's term private equity transactions, the SFO has out performed International Management Board. MAKING THE MODEL WORK Investment Committee and serves on the advisory boards of both its peers and other money managers throughout the most ` Achieving Best Practice Hedge Fund many firms investing in restructuring and distressed situations in challenging market conditions. Mr. Curtis has designed a Plus other unusual funds to be announced Operations & Utilising Volatility the United States, Asia and Europe. proprietary method to trading contract markets incorporating a combination of strategies with limited downside volatility and 18.15 - 20.00 Strategies Asset Managers: non-beta correlation. The result is a significant performance Panellists To Be Announced End Of April enhancement with lowered risk akin to that of arbitrage funds. 15.15 GAIM INTERNATIONAL ’10 Drinks Reception 25mins 18.15 - 20.00 40mins Efficient Volatility Trading: Investing With A Conscience: GAIM INTERNATIONAL ’10 Drinks Can Returns & Environmental Awareness Using VIX & VSTOXX Products to Hedge Reception Equity & Credit Portfolios Really Go Hand In Hand? Manager Feedback From Joshua Spitz, Director, Head of Moderator: European Index Derivatives Trading, Stream D: INVESTMENT STRATEGIES Robert Levin, Managing Director GAIM International 2009 BARCLAYS CAPITAL EMERGING STAR VENTURES Robert Levin is a leading expert on emerging In his current role, Josh makes markets and 15:15 “I have not participated in an event which trades listed, OTC options and light exotic markets-focused environmental technology and was as well run as this. You made it a very index volatility products (variance swaps, ESG/SRI investments. He has over 20 years options on variance, VIX Futures & Options, COMMODITIES & experience as a global asset allocation manager valuable gathering for all. Yes, this is a VIX Exchange Traded Notes, barrier options, outperformance NATURAL RESOURCES focusing on alternative investments in technology, hedge funds tough climate. But, there was an overall options, etc). Josh was instrumental in the development of the and currencies. In addition, he is the founder and CEO of positive feeling with which I left” The Commodities Boom: Transclick, Inc., the developer of Transclick™, the award-winning, new iPath S&P 500 VIX Futures Exchange Traded Notes (tickers David R. Koenig, Chief Executive Officer VXX & VXZ). Prior to trading index flow volatility products, Josh Will This Continue & How To Make The patented mobile application that provides real-time, instant- THE GOVERNANCE FUND, LLC was a trader on the exotics desk where he priced and traded Most Of The Opportunities? translation of SMS and Blackberry messages, in 18 languages, the full spectrum of exotic equity derivatives. for the global consumer, corporate, government and counter- Moderator To Be Announced terrorism and intelligence markets. “Well done on organising such an GAIM International 2009: Asset Allocators: Asset Allocators: impressive event in such extraordinary Investor Feedback José Galeano, Chief Investment Officer Candice Beaumont times. I enjoyed myself and all I spoke to 3A SA & 3A ASIA LTD Managing Director also enjoyed themselves” “Thank you for a great event. It was very Bio can be found on Page 5 L INVESTMENT Daniel Broby, Chief Investment Officer L Investments is a family office with a vast easy to find the managers I needed to Niels Jenson, Founding Partner & SILKINVEST meet and some unexpected ones too. “ portfolio of public and private equity that is Chief Executive Partner primarily focused on commodities. She ABSOLUTE RETURN PARTNERS oversees all capital allocation decisions for the “An outstanding conference. The caliber of Jan Willem Baan, Director of Investments Niels Clemen Jensen has 25 years of fund of funds as well as the direct investment portfolio. She is speakers, the quality of the program, from DOCTORS PENSION FUNDS SERVICES investment banking, private banking and also a financial consultant to Genoil Inc, (www.Genoil.net) an the choice of topics to the mix of activities asset management experience. Whilst at emerging heavy oil technology and portfolio company of L and discussions. As someone who has “Its the best hedge fund conference Lehman Brothers, he developed the concept Investments. of investing that has now been put into effect at Absolute been to many of these over the years and around, there's great variation and we Gordon Grant Curtis have selected several managers for Return Partners. In December 2006 Niels was appointed as a does not impress easily, you are absolutely Director of Trafalgar House Trustees Limited, advising one of Portfolio Manager & Executive Director to be commended” potential investment” the UK's leading corporate pension funds on its investment CI INVESTMENTS strategy. Bio can be found above David Molner, Founder & Managing Director Margarite Maduz, Product Manager, EFG BANK SCREEN CAPITAL INTERNATIONAL

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DAY Thursday 17 June 2010 3 GAIM International 2010 Day Three Focus: Creating A New Asset Allocation & Manager Selection Model: Fresh Perspectives For Post Credit-Crunch Investment Management

09.15 strategy and allocation at BankInvest, the Danish fund Denise Shull, CEO, TRADERPSYCHES Roman Berri management house, for two years before rejoining SEB in Denise K. Shull, M.A. is a globally recognized theoretician in Portfolio Manager, Fund Of Hedge Funds Chairman’s Introduction 2008 to help launch the X-asset strategies project. how the human brain perceives uncertainty. A bit of a polymath, AXA INVESTMENT MANAGERS SWITZERLAND Sassan Zaker, Head Of Alternatives, she is most well known for her practical applications of Roman Berri is responsible for AXA IM’s funds of hedge funds JULIUS BEAR PORTFOLIO Final Panellist tbc Behavioral and Neuroeconomic research. Recently profiled by portfolio management. Prior to AXA IM, Roman worked for 47 MANAGEMENT & Investment Bloomberg Markets Magazine and The Financial Times, Shull is Degrees North where he was Head of Portfolio Management, 10mins CEO of The Re-Think Group, a consultancy dedicated to Manager For Alternative Assets, FOCUSSED ASSET ALLOCATION Q&A managing an emerging managers portfolio. Roman started his JULIUS BAER PENSION FUND improving decision making performance. The Re-Think Group is career at RMF in Switzerland where he worked as an Analyst also the parent of Trader Psyches and counts hedge funds, Sassan Zaker joined Bank Julius Baer & Co. and Risk Manager for the hedge fund seeding team. His primary international banks and professional traders among its clients. Ltd. in 2004 as Head Alternative Products and 10.45 Morning Coffee responsibility was the due diligence on seeding candidates, term She is working on a book entitled Risky Business; It Isn’t What Advisory. He assumed different responsibilities as manger of sheet negotiations as well as the ongoing monitoring of the You Think. Ms. Shull received her master’s degree in institutional portfolios in non-traditional mandates. His last 10.50 - 11.15 seeded managers. neuropsychoanalysis from The University of Chicago. She is a responsibility was head of Fund of Hedge Funds. Before graduate of Harvard’s executive education program in Reza Vahabzadeh, Head Of Hedge Fund Advisory, joining Julius he was head Alternative Investments at GAIM THINKPIECE “Investment Decisions and Behavioral Finance”. Swisscanto. Before he managed global macro and derivative New Research Into FOHF Manager JP MORGAN ALTERNATIVE ASSET style portfolios at Finfunds Management AG for 5 years. Selection: Measuring Alphas And Factor MANAGEMENT Detecting Deception & Uncertainty During Mr. Vahabzadeh’s group provides Manager Selection, Portfolio Exposures Of FoHF Interviews Effective Diligence & Investment 09.30 Construction and Risk Management services to 74 UHNW Peter Meier Analysis clients of JP Morgan Private Bank with HF assets in excess of Centre for Alternative Investments Discover a proprietary behaviour assessment $2.5B. Prior to joining the team in 2001, Mr. Vahabzadeh worked NEW ASSET ALLOCATION & Risk Management at Union Bancaire Privée from 1998 to 2001 where he was a RESEARCH BRIEFINGS ZURICH UNIVERSITY OF APPLIED methodology – originally developed in the US hedge fund research analyst in charge of the U.S. and Global SCIENCES & Member Of The Board, intelligence community – to measure the long/short equity and macro sectors. From 1994 to 1998, he was 15mins BVG-STIFTUNG DER SV GROUP transparency & overall reliability of information employed at Republic National Bank of New York where he was Pension Fund Research PENSION FUND & SWISSBROKE provided during interviews instrumental in the development of Republic's alternative product range. Just How Are Pension Plans & VORSORGESTIFTUNG PENSION FUND BUSINESS INTELLIGENCE ADVISORS Endowments Planning To Allocate To His research, consulting and teaching experience range from 10mins About The Session Alternatives Moving Forward? economics to finance and particularly banking, portfolio FOCUSSED FUND OF FUNDS GROUP management, mutual funds and pension funds. Since 2000 he Participants will be introduced to BIA’s proprietary John Haugh, Head Of Pension & NETWORKING published regularly about alternative investments and hedge behaviour assessment methodology – originally Endowment Strategy funds. Peter Meier is also member of investment committees of BOFA MERRILL LYNCH GLOBAL a pension plans and member of the boards of asset managers. developed by BIA’s founders in the US national 14.40 RESEARCH intelligence community and refined in the Mr. Haugh, who joined the company in 2006, 11.10 investment arena since 2001 – to measure and NEW RANDY COHEN HEDGE FUND provides thought leadership in the Pensions & INVESTORS assess the transparency, completeness, and overall Endowment space. He regularly works with the Exploring New Trends In Portfolio INVESTING MASTERCLASS largest pension plan sponsors in the world providing expertise in reliability of information provided during interviews. all areas of pension plan management. Mr. Haugh has over 12 Construction For Institutional Investors 40mins years of pension experience, and has published several widely- Moderator: Instructor New Academic Research cited research papers. Sorina Givelichian, Former National BIA training sessions are led by BIA’s Behavioral Identifying Key Indicators of Out- Intelligence experts. These experts average 20 15mins Director, Institutional Solutions Performing Hedge Fund Managers in the years of experience in the US intelligence Behavioural Finance Research RUSSELL INVESTMENTS Evolving Financial Marketplace Sorina Givelichian is a 15 year veteran of the community and have collectively conducted over Randolph B Cohen Exploring The Impact Of Behavioural Issues investment industry with significant experience 10,000 interviews in 40 countries. Visiting Associate Professor & Heuristics In Portfolio Construction in risk management, asset allocation and MIT SLOAN SCHOOL Mark Schindler, Portfolio Manager, alternative investments. She was formerly National Director, About BIA Dr. Cohen, has published working papers on Alternative Investments Institutional Investment Solutions at Russell Investments the subjects of Alternative Investment providing strategic investment advice to top institutions in Founded in 2001, Business Intelligence Advisors CLARIDEN LEU (BIA) is a leading independent investment research Management, Asset Pricing, and Finance and Mark Schindler is the author of "Rumors in Canada as well as their international affiliates. is a member of the American Finance Financial Markets: Insights into Behavioral and advisory firm. BIA’s clients in the financial Association and the European Finance Association. Dr. Panellists: services industry rely on BIA to systematically Finance", published by John Wiley & Sons in Nancy Blunck Cohen joined the MIT Sloan School Faculty in 2009 as a March 2007. The book is based on his PhD analyze and measure the Quality of Information Visiting Associate Professor of Finance. From 1998-2009, he Member Of The Board Of Trustees, research which he conducted at the Institute for Empirical provided by potential business partners using a taught at Harvard Business School, most recently as Research in Economics, University of Zurich, Before writing PERMANENT FUND ALASKA Associate Professor of Finance. He currently teaches his PhD, Mark worked for several years at Arthur Andersen in Nancy Blunck is a Certified Financial Planner® proprietary behavior assessment methodology, Investments, an elective course for MIT Sloan MBA the area of Financial and Commodities Risk Consulting. and owner of Blunck Financial, an Anchorage- Tactical Behavior Assessment® (TBA). students. Professor Cohen received his AB in Mathematics based financial planning and investment from Harvard College, and completed a Ph.D. in Finance at 10.00 management firm. She had previously worked 12.50 the University of Chicago. Before coming to HBS, Professor in public policy planning: at the Anchorage Borough as Cohen worked as an actuarial management consultant BIG PICTURE ASSET ALLOCATION transportation planner, for the U.S. Interior Department on D-2 BUFFET LUNCH IN THE EXHIBITION specializing in pension plan asset/liability analysis. Professor legislation implementation, and for the Alaska Public Forum, Cohen lectures worldwide on Investment Management and 35mins NEW established by Governor Hammond to provide a neutral PLUS LUNCHTIME EVENTS valuation of "hard to value" assets. THINKING! mechanism for public participation regarding the Permanent Expert Panel Discussion Fund. In that role, she traveled statewide to listen to Alaskans 10mins 12.50 - 13.20 Determining The Role Of Alternatives In about the Permanent Fund, subsistence, and funding state Q&A Asset Allocation Going Forward & government when oil revenues decline. Ms. Blunck was Meet The Investor Lunchtables Redesigning Your Portfolio Strategy To Fit appointed to the APFC board in September, 2007 by Governor 20mins Palin, for a four-year term. With The New Realities Of Current 13.20 - 13.50 FOCUSSED ASSET ALLOCATION GROUP Liabilities George Moss, CIO NETWORKING Moderator: Dr. Nadja Pinnavaia LSU FOUNDATION DELEGATE QUICKFIRE FUND SHOWCASE Founding Partner George Moss began his career in the Sponsored by 16.00 investment industry with Merrill Lynch. In ARITY ASSET MANAGEMENT 2000, he began working for the LSU THE GAIM OPENMINDS KEYNOTE Nadja Pinnavaia is a former Managing Director Foundation. After nearly six years of service with Goldman Sachs. She worked at Goldman with the LSU Foundation, George was given & Live Manager Selector Feedback Sachs from 1995 to 2007. From 2001-2007, the opportunity to open and manage Braeburn Capital, a Come, admire and cheer on ten brave funds with she worked within GSAM, ultimately LEHMAN BROTHERS EYEWITNESS & THE subsidiary of Apple, Inc., in which he was charged with two minutes each, convincing our panel of asset- UNPUBLISHED SECRETS managing the Hedge Fund Strategies business for Europe and overseeing the investment of Apple’s multi-billion dollar Asia. Nadja served on the Investment Committee from 2002- excess-cash portfolio. In 2008, George was elected as the allocating judges of their Unique Selling Proposition The Vice President Who Blew The Lid Off Lehman 2007. From 2007 to 2009, Nadja founded and was Chief LSU Foundation’s first Chief Investment Officer. As an Officer – strictly off -the -cuff with no props or powerpoint. Brothers. Lawrence McDonald, Executive Officer of Principalis Asset Management, a firm of the LSU Foundation Board of Directors, George oversees focused on deal-by-deal thematic investments. The Bestselling Author Of “A Colossal Failure of the entire investment operation of the LSU Foundation. 13.50 Common Sense” Now Reveals What Couldn't Be Recently, George served as an instructor in the Finance Panellists: Department of the E. J. Ourso College of Business. Published. Danny Truell, CIO & POST-CRISIS THINKING IN Member Of The Executive Board Plus 2 Other Investors tbc MANAGER SELECTION An Insider’s Unpublished Account Of WELLCOME TRUST Astonishing Global Recklessness: The 40mins The Wellcome Trust, the largest charitable 11.50 Implications For The Future Of Finance foundation in Europe with assets exceeding £ Determining The Important Factors Impacting Lawrence G McDonald 12 billion invested in a broad range of HONING YOUR BUSINESS SKILLS Manager Selection In Our Post-Crisis World & Former Vice President investments including public equities, private Are These Changes Long Lasting? LEHMANS BROTHERS equities, property, venture capital and hedge Special Workshop Sessions Lawrence G. McDonald has written a book on funds. The Wellcome Trust gained the IFR Sterling Bond of the Moderator to be announced the fall of Lehman Brothers, with Patrick Year award for its inaugural £ 550 million 30-year AAA bond The Perfect Pitch: Panellists: Robinson, the #1 New York Times best selling issue in 2006 and was named Non-Profit Fund of the Year by Top Tips to Make You Stand Out author of Lone Survivor. “A Colossal Failure Global Money Management in 2007. He joined the Trust in Shakil Riaz, Managing Director & Member Of Understand the psychology of buying, learn what of Common Sense - the Inside Story of the Collapse of September 2005, having previously been a Managing Director Arden Investment Committee Lehman Brothers,” was published by Random House 7/21/09, of Goldman Sachs & Co. in its investment management tricks work – and what doesn’t & utilise pitch ARDEN ASSET MANAGEMENT and hit the New York Times bestseller list in its first week. It is division. Danny is also an Advisory Partner of the Pension checklists to reduce risk and improve success rate Mr Riaz joined Arden in July 2009. He is responsible for now one of the bestselling business books in the world, Corporation where he chairs the Asset/Liability Committee and leading investments in the Arden PropPartners Diversified, Benjamin Ball, Managing Director translated into 12 different languages. Mr. McDonald is a is a member of the Investment Committee. BENJAMIN BALL ASSOCIATES Global Macro & Equity Long/Short funds. Prior to joining Arden, Mr Riaz was the CIO of J.P. Moregan PropPartners Managing Director at Pangea Capital Management LP, based Benjamin Ball spends his time helping management teams win in New York City. From July 2004 through September 2008, Tony Broccardo, CIO pitches and communicate effectively in investor presentations. Management Corp. Prior to this, Mr Riaz was the CIO for the BARCLAYS PENSION FUND Capital Markets Investment Program. Mr. McDonald was a Vice President of Distressed Debt and Recently he has run sessions for senior management at Statoil, Convertible Securities Trading at Lehman Brothers. He ran an Barclays Pension Fund is a circa £15 billion Premier Oil, Linklaters, BNP Paribas, & Doughty Hanson (Sterling) Fund is highly diversified and global. Guido Bolliger, extremely successful joint venture between the firm’s fixed amongst others. He has helped them with messaging, income and equity divisions. He was the most profitable Tony’s team is responsible for the asset presentation performance and pitch winning workshops. Chief Investment Officer allocation process, investment management, OLYMPIA CAPITAL MANAGEMENT trader on the convertible securities department 2006 and implementation and risk budgeting of the Prior to become CIO of Olympia Capital Management (OCM), 2007. In early 2006, Mr. McDonald was part of a faction that About The Session called the subprime crisis, then he made over $46 million for Fund. The Fund utilizes a significant number of external asset Benjamin Ball Associates are presentation experts, Guido Bolliger was Co-CIO and Risk and Quantitative Analysis class specialists. Tony’s previous experience includes being an Managing Director in OCM. Guido Bolliger began his career in the firm during its implosion. Mr. McDonald was highly Executive Director and CIO for F&C Asset Management PLC, specialised in helping businesses with investment 1995 at the Banque Cantonale Vaudoise (Lausanne, Switzerland) regarded as one of the most consistently profitable traders at and as a Global Partner and Institutional CIO for INVESCO pitches and communications. Their experienced as a mutual Fund Manager. Then he worked for two years as an Lehman with over $83 million in trading profits during his time Asset Management Inc. In both roles, over a period of fifteen Index Fund Manager and Quantitative Analyst at Synchrony S.A. with the firm. More interestingly, Mr. McDonald was an team and highly effective processes are why integral part of a faction within Lehman Brothers that years, he chaired the Global Asset Allocation Committee. leading businesses use them to ensure fund raising From 2004 to 2005, he worked for Julius Baer Investment Fund Services as a Senior Quantitative Analyst in Zurich. passionately tried in vain to stop the firm from heading down Thomas Thygesen, Chief Strategist, presentations and pitching teams are on top form. the road to destruction. SEB X-Asset Strategies Team, SEB Nicholas Verwilghen, Partner, Member of the Thomas Thygesen holds an Msc in economics Keeping It Real… Executive Committee, Member Of The Investment 16.40 from the University of Copenhagen and has The Art Of Rational Decision Making Committee, Chief Product & Solutions Officer, EIM more than 20 years experience as an Understand the way your brain interprets risk. As Chief Product and Solutions Officer for the Group, Nicholas GAIM INTERNATIONAL 2010 economist and strategist in the financial Learn why ‘smart’ isn’t enough and how ‘fear and Verwilghen is responsible for developing and expanding EIM’s LEAVING DRINKS sector. He headed the macro & strategy team offering. In addition to developing EIM’s solution efforts he at SEB Enskilda Securities for 8 years and was head of greed’ aren’t the demons you think they are! also serves as a member of the Investment Committee.

11 W www.icbi-gaim.com • T +44 (0) 20 7017 7200 • F +44 (0) 20 7017 7807 • E [email protected] KN GAIM 2010 br:FLAME A2 06 16/3/10 09:45 Page 14

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Deutsche Bank’s Alternative Fund Services group, part of provided Lyxor with an in-depth knowledge and insights For more information please visit our the Bank’s Global Transaction Banking division, provides a into asset allocation strategy and research. website:www.vistra.com Our considerable expertise in Alternative Investment full range of administrative and banking services to hedge

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Grimaldi Forum, Monaco 14 June: UCITS & Managed Accounts Summit 15-17 June: Main Conference www.icbi-gaim.com NEW Achieve Your Business Goals At The World’s Largest Hedge Fund Event Academic Hedge Fund Manager Benefits Investor Benefits & Industry • Meet 300+ Active Investors In The Alternatives • Discover 2010’s Top Performing Hedge Funds & Research World In Just 4 Days Hedge Fund Strategies For 2010 • Use Our Unrivalled Structured Networking To Meet • Take Part In Our Structured Networking To Meet The Right Investor For Your Fund Funds Of Interest To You • Learn From The Top Hedge Fund Brands • Benefit From Our New Investor-Driven & & The Renowned Industry Stars Comprehensive Programme

Professor Randy Cohen MIT SLOAN Meet Over 300 End Investors & Asset Allocators Author Of New Research On Asset Allocation

Danny Truell Michael Powell Gerlof de Vrij Tony Broccardo Theodore Economou Larry Kochard Ricardo Weiss Diego Icaza THE WELLCOME TRUST UNIVERSITIES ALL PENSIONS GROUP BARCLAYS PENSION CERN PENSION FUND GEORGETOWN FAPES-BNDES PENSION BBVA PRIVATE SUPERANNUATION (APG) FUND UNIVERSITY FUND BRAZIL PENSION FUND, PERU SCHEME

Nassim Taleb Hear From The Industry’s Biggest Stars UNIVERSA ASSET MANAGEMENT Author Of New Research On Crowd Behaviour & Risk Perception

Mike Novogratz Bernard Oppetit Byron Wien Rick Sopher Elena Ambrosiadou Peter Clarke Hugh Hendry Steve Friedman FORTRESS INVESTMENT CENTAURUS CAPITAL BLACKSTONE ADVISORY LCF ROTHSCHILD ASSET IKOS MAN GROUP PLC ECLECTICA ASSET EOS PARTNERS GROUP SERVICES MANAGEMENT MANAGEMENT NEW Join Our UCITS & Managed Accounts Investor Summit

Lawrence MacDonald The Exclusive Benefits Of Attending EXCLUSIVE: Meet New Hedge Fund Investors At The Summit Lehman Eyewitness  Author Of 14 June 2010 Meet NEW Investors & Asset Allocators Active In UCITS “A Colossal Failure of Answering The Needs Of & Managed Accounts Common Sense” The Post- Crisis Investor:  Discover How To Fine-Tune Your Strategy New Thinking On Liquidity  Pitch Your Fund During The UCITS & Managed Accounts QuickFire Showcase & Transparency In Hedge Mario Therrien Olivier Couvreur Jose Galleano Mussie Kidane  Receive An Exclusive Pass To The Investor Drinks CAISSE DE DÉPÔT ET AA ADVISORS 3A & 3A ASIA PICTET Fund Investing Reception & Meet The GAIM Investor Community In PLACEMENT DU QUÉBEC Advance Of The Main Conference

Yariv Itah What’s New For 2010? CASEY QUIRK & ASSOCIATES  More Institutional Investors Than Ever Before – Meet more endowments,  Hone Your Business Skills At 3 New Inspiring Mini-Workshops: Author Of New pension plans and foundations than at any other alternatives event. 1. How to deliver the perfect pitch for investment; 2. Mastering the art of rational decision making under pressure and 3. Using behavioural indicators Research On  Key Industry Trends New Special Focus Investor Groups – Hear from Latin American Investors, to detect deception & uncertainty. For 2010 Nordic Investors, Middle-Eastern Investors, Retail Distributors & Fund Platforms.  New Range Of Hedge Fund Strategies In Focus: Including Global Macro, Fixed Income, CTAs, Systematic Trading, Credit, Distressed Debt,  New UCITS & Managed Account Investor Summit – This Environmental, SRI & Commodities. separately bookable summit (14 June) focuses on the new generation of liquid and transparent products  New Academic Research On Hedge Fund Asset Allocation by renowned Free For Hedge Fund Expert Professor Randy Cohen Of MIT SLOAN  New Asset Allocation & Manager Selection Focus Day – Discover how top End end investors (Wellcome Trust, Barclays Pension Fund, CERN Pension Fund)  New Enhanced Ways of Connecting & Promoting Your Fund (please turn over Investors are changing their asset allocation. for more information)

Gold Sponsor SEB is a Northern-European banking group for companies, institutions and private individuals, with a 150 year history and strong franchise in investment banking and asset management. With over 30 years experience with leading European & US Hedge Funds, SEB is one of the largest Prime Brokers in Europe on Equity Strategies and the leading provider of Equity Finance products for Hedge Funds in the Nordic market. SEB Enskilda is the number one on all stock exchanges in the Nordic Region. Furthermore SEB offers high performance Direct Market Access to more than 40 global equities and futures markets.

With AuM of SEK 1,356bn SEB is one of the largest asset managers in Northern Europe and has a leading position within alternative investments with SEK 178,2bn AuM including Private Equity, Real Estate Funds and Funds of Hedge Funds. Year end 2009, SEB had 21.000 employees and total assets of SEK 2,308bn. www.sebgroup.com W www.icbi-gaim.com • T +44 20 7017 7200 • F +44 20 7017 7807 • E [email protected] KN BACKREG 2010:Layout 1 16/3/10 09:47 Page 1

Register Now – Five Easy Ways! “An unbeatable meeting place for 1. Fax this form on +44 20 7017 7807 2. Post this form to: GAIM International Conference Administrator, alternative investments discussion ICBI, 8th Floor, 29 Bressenden Place London SW1E 5DR, UK 3. Telephone us on +44 20 7017 7200 and information." 4. Email: [email protected] 5. Via the website: www.icbi-gaim.com Professor Edward I. Altman, Max L. Heine Professor Of Finance Always quote your VIP CODE when registering. NYU STERN SCHOOL

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14 June: UCITS & Managed 3 Day Main Conference Accounts Summit The Grimaldi Forum, Monaco, BP 2000 15-17 June: Main Conference 10, avenue Princess Grace MC 98001 Monaco Cedex Tel: +323 7 9999 2000 www.icbi-gaim.com Fax: +33 7 9999 2001 Download hotel booking forms at Web: www.grimaldiforum.com/eng www.icbi-gaim.com New UCITS & Managed Account Summit Le Meridien Beach Plaza 22, Avenue Princesse Grace Monte Carlo, MC 98 000 Monaco

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END INVESTORS (pension plans, endowments, foundations, single family offices & treasury): subject to authorisation. FREE FREE FREE Please email [email protected] to apply Savings include Multiple Booking & Early Booking Discounts. All discounts can only be applied at the time of registration and discounts cannot be combined. All discounts are subject to approval. Please note the conference fee does not include travel or hotel accommodation costs. £200 discount for 3rd and subsequent delegates. PAYMENT DETAILS G Please use this form as our request for payment. Fax and phone bookings should be made with a credit card number, or Please debit my Mastercard Visa Eurocard American Express CVV Number followed up by a posted registration form. Places are only guaranteed by full payment, which must be received before the conference. I will pay by: Card Number  Cheque/bankers draft made payable to ICBI for £...... 3 digit security code on the  Invoice to be sent to my company Expiry Date / with the sum of £ reverse of card, 4 digits for  Bank transfer - full details of bank transfer options will be given with your invoice on registration. AMEX card Signature

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