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13th Annual European Conference on Alternative Investments

June 3 - 4, 2008
The Four Seasons Hotel
Dublin
9:00 - Keynote Presentation - Counterparty and Prime Broker Risk: The Underestimated Menace to Hedge Fund Investing
Rick Sopher
Managing Director
LCF Edmond de Rothschild Asset Management Ltd

Rick Sopher is Chairman of LCH Investments NV (the first multi-manager fund of hedge funds, which was launched in 1969), and Managing Director of LCF Edmond de Rothschild Asset Management Ltd.

Mr. Sopher heads investment management of the Capital Holdings Funds and is Chairman of the management company of LCH, ECH and TCH and is head of the monitoring centre of the Capital Holdings Group of Funds. Mr. Sopher joined the LCF Rothschild Group in 1993 and is Managing Director of LCF Edmond de Rothschild Asset Management Ltd. Prior to this, he was a partner at BDO Stoy Hayward responsible for corporate finance investigations. He was with that firm from 1981 to 1993, qualifying as a chartered accountant and becoming the youngest ever partner of the firm in 1988. Mr. Sopher graduated from Cambridge University with a BA and MA in Economics in 1981. He was awarded the Chevalier de la Legion d’Honneur in 2007.

9:45 - Family Office Panel
Jane N. Abitanta
Principal
Perceval Associates, Inc.

As a strategic business advisor and professional coach, Jane N. Abitanta has focused exclusively on the financial services industry since 1980. She founded Perceval Associates, Inc. in 1996. From her early days as an investment strategist for Citicorp Investment Management (Chancellor Capital), Ms. Abitanta has built a unique portfolio of management, sales and marketing expertise through positions at Swiss Bank Corporation, Bessemer Trust Company and The Chase Manhattan Private Bank. Her strong track record in successfully managing relationships for these premier organizations, combined with her expertise in marketing brings significant value to Perceval’s clients. Ms. Abitanta is perhaps best known for her ability to help asset management firms develop and more effectively deliver their messages, or “stories” to prospective high net worth and institutional clients. She has served as a charter faculty member of the Institute for Private Investors, a member of the Investment Committee of Women’s World Banking, and director of the Association for Investment Management Sales Executives (AIMSE). She is a director of Green Cay Asset Management, a Bahamas-based alternative investment firm and a former director of Shaking the Tree, a not-for-profit organization that uses interactive theater to illustrate family wealth dynamics. She is also the editor of the AIMSE Advisor.

With an MBA in Finance and Investment Management from Fordham University, and a BA in Economics and Political Science from the University of Delaware, Ms. Abitanta is pursuing an MA in Social-Organizational Psychology and Change at Teachers College, Columbia University.

Caroline Butler
Director
Lord North Street Private Investment Office

Caroline Butler joined as a Director of Lord North Street, Private Investment Office in 2004. Lord North Street provides asset allocation, structural advice, manager selection and implementation on an open architecture basis. It is an independent service for wealthy families, endowments and charities with approximately $4 billion of assets under its stewardship. Ms. Butler was formerly Managing Director and Head of UK Private Wealth Management at Deutsche Bank AG London. She put in place the quantitative asset allocation model used in London. Prior to joining Deutsche Bank in 2001, Ms. Butler was a Partner in a fund of hedge funds within Park Place Capital. An Economist by training, she worked from 1977 in London at NM Rothschild and Sons and at S.G. Warburg & Co and from 1987 in New York at Goldman Sachs and Louis Dreyfus Corporation. Educated at Oxford and the London Business School and the first woman elected to the Board of S.G. Warburg in 1984, her experience includes foreign exchange and debt management, corporate advisory and asset management.

Peter Fletcher
Managing Director
Parly Company SA, Geneva

Peter H. Fletcher is the Managing Director of Parly Company SA, Geneva, Switzerland, a family office which invests internationally in private/direct equity and alternative investment strategies. Mr. Fletcher has over 30 years of international experience covering a broad spectrum of financial management functions in the trust and banking industry in Canada, Australia, Bermuda, Hong Kong and Switzerland. In addition to holding numerous directorships of investment funds and companies, Mr. Fletcher has served on various government financial regulatory bodies. He holds the professional designation of Chartered Financial Analyst.

Daragh Murphy
Head of Wealth Management
Investec Ireland

Daragh Murphy has over 14 years experience in managing client investments. He has advised clients on Equity, Fixed Interest, Alterative Asset Classes, Private Equity and Property Investment opportunities during this period. Investec Wealth Management work with clients and Family Offices offering investment solutions utilising an open architecture platform of world class investment managers. Mr. Murphy joined Investec from Friends First (Eureko), where he was responsible for the distribution and marketing of the investment suite in particular Leveraged Property Funds and Hedge Funds. Before this, Mr. Murphy worked for Davy Stockbrokers for 8 years, specialising in managing investments on behalf of private clients. He was part of the team, which was awarded the mandate to manage the Central Investment Management service for the ILCU, a fund of over €400m. Mr. Murphy is a Qualified Financial Adviser (QFA) and holds a Masters degree in Business Administration (MBA) and a Masters degree in Economics both from University College Dublin.

Paul Ross
CEO
Iveagh, a Private Investment House

Paul Ross started his career in 1985 as a derivatives trader on the London Metal Exchange with Mocatta Commercial. From 1991 to 1997 he worked for a Paris-based placement agency, IFD et Associes, focusing on emerging market fund management. Between 1988 and 1990, Mr. Ross worked as a CTA analyst and allocator with Arbuthnot Stolter, a London based merchant bank. In 1998 he founded fund of hedge funds firm Arundel Partners and oversaw its merger with Iveagh of which he was appointed CEO in 2006.

11:00 - Industrialization of Hedge Funds: The Rise of Operational Due Diligence TM
Walter Zebrowski, JD, CPA
CIO, Hedgemony Partners; Chairman, Regulatory Compliance Association

Walter Zebrowski has served in senior management roles for several alternative investment funds since 1992, including CIO, COO and CFO/CSA. The funds focused primarily on market neutral strategies (i.e. quantitative, convertible, merger & acquisition arbitrage); utilized technical and quantitative models to analyze and evaluate multiple markets and asset classes, or concentrated on private equity investments and transactions. Within the Fund of Funds arena, Mr. Zebrowski analyzed, evaluated and conducted due diligence on hundreds of investment managers using various investment management strategies in multiple asset classes.

Currently, Mr. Zebrowski serves as CIO of Hedgemony Partners, an alternative investment management and technology development firm focusing primarily upon distress and development stage opportunities within the alternative investment management company arena. The firm employs an activist strategy in managing its portfolio of company investments by having members of the firm serve as senior management for portfolio companies. Hedgemony Partners delivers the infrastructure and support of a Multi-Strategy Hedge Fund and the capital sourcing capabilities of a boutique Investment Bank for Hedge Fund Management companies. The Hedgemony model supplies a Manager with comprehensive institutional infrastructure (people, processes, systems and governance) to secure large allocations and mandates while preserving their independent enterprise value and entrepreneurial spirit.

As an avid speaker and author, Mr. Zebrowski has moderated panels and presented to organizations such as Institutional Investor, IIR/GAIM, MarHedge, Global Association of Risk Professionals and the AICPA. As Chairman of the Regulatory Compliance Association’s CCO University, he oversees the entire Masters of Compliance Degree Program. The CCO University curriculum spans over 28 classes, and 192 hours of course work. The faculty of professors includes many blue chip COOs, CFOs, CCOs, GCs, CROs, attorneys and CPAs, as well as senior members of regulatory authorities.

Kip Allardt
COO/CCO
Discovery Capital Management

Kip Allardt brings 30 years of international market-related experience from both the buy and sell side of the financial industry. Mr. Allardt came to Discovery from Sovereign Investment Management and Research a firm he founded to provide investment research and trading advice to institutional clients. Before that, Mr. Allardt managed the emerging markets business at Medley Global Advisors, a Global Macro Political advisor to institutional investors. Mr. Allardt spent 8 years at CSFB managing local market portfolios of sovereign emerging markets debt and was later CSFB's emerging markets sovereign strategist. Prior to CSFB, Mr. Allardt spent 12 years working overseas as a proprietary trader of FX options and local currency denominated bond portfolios for British Petroleum, Continental Grain and Donaldson Lufkin Jenrette. He attended Rochester Institute of Technology and New York University.

Fabrizio Ladi Bucciolini
Portfolio Manager
Reyl Alternative Strategies Fund

Fabrizio Ladi joined Reyl & Cie in 2008 to develop the Alternative Investment selection and due diligence capability of the company as well as to manage the Reyl Alternative Strategies FoF. Before joining Reyl & Cie. Mr. Ladi was a Managing Partner at SAR AG, an independent asset management firm based in Zurich, Switzerland that specialized in alternative investments with emphasis on Funds of hedge funds. During his stay at SAR, Mr. Ladi was a member of the investment and management committees, he was in charge of manager due diligence and actively involved in sourcing investment opportunities. Mr. Ladi has 13 years of entrepreneurial experience in the financial markets. He is registered with the NASD holding Series 7 & 55 licenses. He began managing investments in 1994; in 2001 he founded Renaissance Equity Partners LLP a Statistical Arbitrage hedge fund. From 1997 till late 2003 he also acted as an independent investment advisor. Mr. Ladi read Literature and Philosophy at University of Bologna and graduated at the Edinburgh Academy in the United Kingdom.

Leslie Lake
Managing Director
Invus Financial Advisors, LLC

Leslie L. Lake is a founding Partner of Invus Financial Advisors, LLC., a hedge fund advisory firm founded in 2006 which manages in excess of $1.5 billion. Prior to founding Invus Financial Advisors, Ms. Lake was a Managing Director of The Invus Group, a $4 billion private equity firm which has purchased, and taken public, such notable companies such as Keebler and Weight Watchers. While at The Invus Group, Ms. Lake managed the $1 billion internal hedge fund of funds business from 1995 to 2006. Prior to joining Invus, Ms. Lake was the external Chief Investment Officer to the Mitchell Kapor Family (founder of Lotus 1-2-3) from 1993 to 1998. While acting in her CIO position, Ms. Lake was solely responsible for developing and implementing the investment strategy for the family’s liquid investments. From 1990 to 1995, Ms. Lake was the Executive Vice President and Managing Director of Cofinam, Inc., the family office of the Charles Feeney Family, founder of Duty Free Stores. While at Cofinam, Ms. Lake became primarily responsible for the development and implementation of the liquid asset investment strategy. Ms. Lake began her career as an analyst with Joseph P. Kennedy Enterprises, the family office consortium of the Kennedy, Shriver and Lawford families. Ms. Lake holds a B.A. in Economics from Simmons College. Ms. Lake currently serves as Vice Chairman of the Board of STRIVE National.

11:45 - Socially Responsible Investing in Europe: Impact on Individual Managers and the Hedge Fund Industry
Ulrika Hasselgren
President
Ethix SRI Advisors

Ulrika Hasselgren is Co-founder of Ethix SRI Advisors. Ethix is a Nordic-based consultancy which provides institutional investors with responsible investments-related products and services. Ethix has extensive experience in socially-responsible investment (SRI) research and analyses. It is the pioneer of norms-based screening and a forerunner in SRI emerging markets products. The consultancy’s analyses encompass international humanitarian law, human rights, labor rights, the environment, anti-corruption, and governance issues. Its clients’ total of assets under SRI management exceeds € 200 billion. Ulrika has had eight years of experience in the SRI business. Prior to her current position, she co-founded the Stockholm-based SRI advisory firm Etikanalytikerna. Ms. Hasselgren has also worked for Solving International and McKinsey.

Martin Cech
Fixed Income Fund Manager, Responsible Investments
Erste-Sparinvest

Martin Cech has been with ESPA Financial Advisors and VINIS since 2006. He is a fund manager for Sustainable Bond Funds and Sustainable Cash Funds, advising SRI-concepts and manages for VBV pension fund an Absolute Return Bond fund. ESPA Financial Advisors, part of ERSTE-SPARINVEST is the second largest asset manager in Austria managing some 44 bn. USD and the largest SRI-manager in Austria. Mr. Cech is also portfolio manager of VBV´s redundancy payment group that also refers to sustainable criteria. From 1989-1993, Mr. Cech worked in Institutional sales at Volksbank, in Vienna. Mr. Cech became involved in Private Banking at a regional Austrian bank. From 1998-2005 he served asVBV, deputy Chief Investment Officer, Head of competence centre for fixed income. Mr. Cech graduated from Economic High School in Vienna and received CPM diploma (Certified Portfolio Manager) Level in 2001.

Rebecca Dixon
Associate
Mercer

Rebecca Dixon is an associate in Mercer's investment consulting business in London. She is a member of the Responsible Investment business unit, supporting intellectual capital development and clients mainly in Europe and the Middle East, but also globally. Ms. Dixon joined Mercer in May 2001, firstly in the general consulting business unit where she had private equity specialist research responsibilities and was also involved in preparing "A Climate for Change: A Trustees Guide to Understanding and Addressing Climate Risk". Since April 2007, Ms. Dixon has become a full time member of the Responsible Investment business unit. Prior to joining Mercer, she worked as a credit analyst with BNP Paribas in Bangkok. Ms. Dixon has a Masters degree in European business from ESCP-EAP, a French Grande École, an Honours Bachelor of Science marine science degree from the University of Southampton, and is a CFA charterholder.

Mairead Hancock
Head of Client Services
Ethical Investment Research Services (EIRIS) Ltd

Mairead Hancock is responsible for client relationship management, with a focus on the Benelux countries and assisting pension funds implement their SIPs in terms of “responsible investment”. In addition, Ms. Hancock works closely with FTSE in the provision of data for FTSE4Good family of indices. EIRIS conducts independent research for the benefit of investors. It does not offer financial advice nor manage assets. Ms. Hancock holds a BA in Business Studies from the University of Liverpool. In addition she holds an MA in Applied Linguistics from Birkbeck College, University of London. She is currently studying for an MBA from Warwick.

Susan Payne
CEO
Emergent Asset Management

Susan Payne has worked in the emerging markets on both the sell and buy side for 20 years. After having been called to the Bar in Canada in 1985, Ms. Payne joined JP Morgan in 1986, working on the equities, fixed income and syndicate desks before joining the original eight-person global Emerging Markets Group. During her tenure as Head of Emerging Markets Sales, Europe, the global group grew to number over 250 people and became established as the market leader in emerging markets securities, including both debt and equities for several years in a row. In 1993, Ms. Payne joined Goldman Sachs International as an Executive Director and Head of Sales and Trading responsible for developing its emerging markets debt business in Europe. In 1997, she founded Emergent Asset Management Limited, an award - winning, alternative investment firm, based in the UK, where she is Principal. Her responsibilities include fund management, as well as spearheading the strategic partnerships and distribution division. In October, 2007, Ms. Payne was listed by Financial News as one of the Top 100 Most influential Women in Finance in Europe. She was awarded one of eight Shell UK Women of the Future Awards 2006 and was short-listed by the CBI as the UK’s First Woman of Finance, 2005. Ms. Payne is also Head of the London Chapter of 85 Broads, which is the largest professional women’s network in the world, and is an outspoken advocate of women's issues in the workplace. Ms. Payne began her schooling in Vancouver, Canada and completed it in Rome, Italy. She holds three Honours degrees, including two in law from Oxford University and McGill University, Montreal, respectively. She also studied at St. Andrews University, Scotland, University of Perugia, Italy and University of Tel Aviv, Israel.

12:30 - The Continuing Evolution of the Institutionalization of Hedge Funds
Lisa Fridman
Associate Director
PAAMCO Europe, LLP

Lisa Fridman is an Associate Director at Pacific Alternative Asset Management Company (“PAAMCO”), a fund of hedge funds with $10 billion in discretionary assets. In this role, she is involved in research, due diligence and monitoring of the firm’s European hedge fund investments with a particular focus on risk management. Additionally, Ms. Fridman is responsible for portfolio construction and account management for several of the company’s largest clients. She also runs the UK Investment Analyst program for PAAMCO. Ms. Fridman graduated from University of California, Los Angeles with a BA in Business Economics and received an MBA in Finance from UCLA Anderson School of Management.

Donald Anastasia
Assistant Treasurer
NSTAR Electric and Gas

Donald Anastasia is Assistant Treasurer of NSTAR Electric & Gas responsible for investments, real estate, and risk management. NSTAR is a Boston based utility, serving customers in Eastern Massachusetts and Cape Cod. Mr. Anastasia is a member of the Investment Committee responsible for $2 Billion of employee benefit fund assets. The pension fund is invested 45% alternatives, 23% equities, 20% real estate, and 12% fixed income. Mr. Anastasia has served on the Advisory Board of the Massachusetts Pension Reserves Trust where he worked with a team advising the state Treasurer on asset allocation. Prior to joining NSTAR, he was with Price Waterhouse & Co. as a tax specialist. He is active in energy industry mutual insurance companies, community groups, and as a Director of the Robert F. Kennedy Children’s Action Corps, the largest independent agency for children in the state. Mr. Anastasia received a B.S. and M.S. from Northeastern University and is a CPA.

Jean Keller
CEO
3A - Alternative Asset Advisors

Prior to joining 3A in February 2005, Jean Keller spent 11 years assuming various responsibilities within the Lombard Odier Darier Hentsch (LODH) group in Geneva, New York and London. From 2002 to 2004, he was Chief Executive Officer of LODH Asset Management Ltd in London and member of the group’s Management Committee. He also co-headed LODH’s institutional asset management division and sat on the Asset Management Board, which directed - amongst other activities - the group's alternative investment business.

From 1993 to 2001, Mr. Keller held various positions within LODH Asset Management, first in Geneva, then in London and New York. From 1988 to 1992, he was investment manager and investment analyst with Baring Asset Management in London and Hong Kong, where he was involved in the management of various mutual and institutional funds. Mr. Keller holds a Degree in International Relations from the University of Geneva and a Master of Business Administration from the Wharton School of Business of the University of Pennsylvania, with a major in Finance.

Paul Le Page
Portfolio Manager
Financial Risk Management Limited

Paul Le Page oversees portfolio management for multi-strategy absolute return products and a number of FRM sector portfolios. Prior to joining FRM he was an Associate Director at Collins Stewart Asset Management from 1999 to 2005, where he was responsible for managing the firm’s fund research team, reviewing hedge fund managers and managing hedge fund portfolios. Mr. Le Page joined Collins Stewart in January 1999 after a 12 year career in industrial research and development, latterly as the Research and Development Director for Dynex Technologies (Guernsey) Limited until 1998, where the development of a world leading instrumentation family led to the award of grant which he used to fund an MBA degree from Heriot-Watt University in 1999. Mr. Le Page graduated in Electrical & Electronic Engineering from University College London in 1987. Paul joined FRM in August 2005.

Stephen McCaffrey
Senior Counsel
KeySpan Corporation

Stephen McCaffrey is a Senior Counsel of KeySpan Corporation, a holding company that was created when Long Island Lighting Company merged with Brooklyn Union. KeySpan was acquired by National Grid UK and is now part of the National Grid Family. Mr. McCaffrey is responsible for practice areas involving all aspects of employee benefits related to defined benefit and defined contribution plans as well as executive compensation. He is also responsible for legal matters related to KeySpan's Treasury and Finance department. Mr. McCaffrey became a member of Long Island Lighting Company Legal Department in 1986. Before that, he was a Senior Tax Analyst in the company's tax department, responsible for federal, state and local tax issues. Mr. McCaffrey was appointed to the US Department of Labor's ERISA Advisory Council in March 2007. Mr. McCaffrey is admitted to practice before the Courts of the States of Connecticut, New Jersey and New York, the United States District Court of New Jersey and the U.S. Tax Court. He received his Bachelor's and Master's degrees from St. John's University and his law degree from St. John's University School of Law. Mr. McCaffrey is a member of the American Bar Association. Mr. McCaffrey is also legal counsel for the KeySpan Foundation and the KeySpan Insurance Company.

2:45 - Featured Speaker: Correlation of Uncorrelated Investments
Jeffry R. Haber, PhD, CPA
Controller
The Commonwealth Fund

Jeffry Haber is Controller of the Commonwealth Fund and Associate Professor of Accounting at Iona College. The Commonwealth Fund, among the first private foundations started by a woman philanthropist—Anna M. Harkness—was established in 1918 with the broad charge to enhance the common good. The Fund carries out this mandate by seeking to move the United States towards a high performance health care system that achieves better access, improved quality, and greater efficiency, and focuses particularly on the most vulnerable due to income, minority status, health, or age. The Fund supports independent research on health and social issues and makes grants to improve health care practice and policy. The Fund is a value-added foundation—conducting intramural research; working closely with grantees in designing, publishing, and communicating the results of projects; and conducting a web-based and media-oriented communications program aimed at reaching influential health policy and practice audiences. Annual income derives from its endowment, which has a market value of approximately $800 million, including a significant allocation to alternative investments. Active since 1986 in making alternative investments; The Fund now has approximately 50, including hedge funds, private equity, venture capital, real estate and natural resources. Its annual program and administrative budget is $38 million.

As Associate Professor, Dr. Haber teaches graduate and undergraduate classes in a variety of accounting areas. He also publishes in the areas of investments, anti-money laundering and terrorist financing, earnings quality, ethics, bankruptcy prediction and other areas of financial and managerial accounting. Dr. Haber received a B.S. and M.S. from Syracuse University in May, 1982 and a Ph.D. from Rensselaer Polytechnic Institute in August 1994. He is a CPA, licensed in New York and is active on a variety of professional committees

4:00 - Activist Investing
Christine Woodhouse
General Counsel
The Taylor Companies

Christine Woodhouse is General Counsel to The Taylor Companies, with responsibility for compliance as well as general legal matters, and a member of the Investment Committee of Taylor Investment Advisors.

Ms. Woodhouse is a guest lecturer and has served as Adjunct Professor of Law at the Morin Center for Banking and Financial Law at Boston University. Ms. Woodhouse was previously General Counsel to Hudson Castle Group in Tarrytown, New York, and Senior Corporate Associate at Curtis, Mallet-Prevost, Colt & Mosle, where she represented the Airline Transportation Stabilization Board in designing and implementing its emergency loan guarantee program for the U.S. airline industry following September 11, 2001. Prior to joining Curtis, Mallet, from 1996 until 2000 Ms. Woodhouse served as Attorney-Advisor at the Export-Import Bank of the U.S. From 1990 until 1996, Ms. Woodhouse was an Associate with the firm of Powell, Goldstein, Frazer & Murphy in Washington D.C, where she handled a broad array of federal regulatory and compliance matters. Ms. Woodhouse received her A.B. with honors from Stanford University, and an MA and JD from the University of Virginia. She is admitted to practice in New York.

John Hock
Principal & President
Alexandra Investment Management LLC

John J. Hock joined Alexandra from Tremont Capital Management, a leading fund-of-funds group; where he was Executive Vice President and Head of Global Sales, as well as a member of the Executive Committee. During his five-year tenure at Tremont, Mr. Hock helped to reorganize

Tremont’s global business efforts to include strengthen the firm’s institutional business platform. Prior to joining Tremont, Mr. Hock was a Senior Managing Director and Partner at Alpha Investment Management, where he developed the firm’s global institutional hedge fund-of-funds effort. Prior to that, Mr. Hock headed up institutional marketing efforts at Citibank Global Asset Management and UBS (NY) Asset Management. He was also a Co-Founder and Head of Sales and Marketing for Oak Hall Capital Advisors. Mr. Hock holds a BS and an MBA from Long Island University, which honored him in 2005 with a Distinguished Alumni Award.

Tomas Meerits
Vice President
Cevian Capital

Tomas Meerits is a Vice President of Cevian Capital. Cevian is an investment firm with $5 billion under management, acquiring significant minority ownership positions in a limited number of listed companies in Western Europe, including significant investments in the Nordic region. Pursuing an industrial investment approach, Cevian Capital focuses on enhancing the long term competitive position and value of a portfolio company through active ownership.

Mr. Meerits joined Cevian in 2004 and is responsible for sourcing, evaluating, structuring, managing and exiting Cevian’s active ownership investments. He also works alongside Cevian’s partners to formulate and implement value-enhancing strategies, driving improvements in areas of corporate governance, operations, corporate structure and strategy, and capital structure. He holds an M.Sc. in Economics and Business Administration from the Stockholm School of Economics

4:45 - How Are Funds of Funds Adapting to the Maturation of the Industry?
Sean Cumiskey
Managing Director
Ivy Asset Management Corp

Sean Cumiskey is Managing Director and a member of the firm’s Executive Committee. Mr. Cumiskey and has managerial responsibility for Ivy’s Investment Strategies Group and Capital Markets Group. Mr. Cumiskey is also a member of Ivy’s Investment Committee, Risk Management Committee and Product Development Team. Mr. Cumiskey joined Ivy in May 2004 from Meridian Capital Partners, a $3 billion independent fund of funds, where he was Managing Director responsible for strategic client relationships and was a member of the firm’s risk management committee. Prior to joining Meridian in 2002, he was Director of Portfolio Strategy for myCFO Investment Advisory Services, a multi-family office, where he directed the firm’s hedge fund and private equity investments. Previously, Mr. Cumiskey worked as a Principal at Banc of America Securities (Montgomery Division), where he oversaw the multi-manager product platform, and as a Director with BARRA RogersCasey, where he advised institutional investors on various portfolio management issues. Mr. Cumiskey holds a B.A. from the University of California, Los Angeles and an M.B.A. from Columbia Business School.

Tim Gascoigne
Global Head of Portfolio Management
HSBC Republic Investments Ltd

Tim Gascoigne joined HSBC Alternative Investments Limited in 1996 after spending three years with Mercury Asset Management where he worked as an equity researcher and as part of the company’s strategy team. Mr. Gascoigne now heads portfolio management from London and is the Head of Asian and European research. Mr. Gascoigne has experience in the hedge fund industry since 1996 and earned his Chartered Financial Analyst (CFA) designation in 1997. He has an Honours degree in Monetary Economics (London School of Economics).

Michael Goldman
CEO/CIO
Mazuma Capital

Michael Goldman is Chief Executive Officer, Co-Chief Investment Officer and a director and principal of Mazuma Capital Management Limited. Mr. Goldman was a co-founder of the Momentum Group of asset management companies in 1986, which was acquired in 2002 by Pioneer Global Asset Management S.p.A., a division of the Unicredito Bank Group. Following the acquisition, he became joint Chief Investment Officer of Pioneer Alternative Investments. A former lecturer, Mr. Goldman holds a BA and an MA in English Literature from the Hebrew University of Jerusalem, which he attained in 1981 and 1984, respectively.

Tushar Patel
Co-founder and Managing Director
HFIM

Tushar Patel is Managing Director and Investment Manager at Hedge Fund Investment Management Ltd (‘HFIM’) a London based fund of hedge funds Investment Manager. He manages the HFIM Evolution Funds, a range of funds of hedge funds focused on investing in emerging and newly established hedge funds. HFIM’s investment approach is to capture returns from new and emerging hedge fund strategies that can come from innovation and evolution within the global hedge fund industry. Mr. Patel has more than 12 years' experience in the management of funds of hedge funds and single-strategy hedge fund managers. Prior to HFIM, he worked at GAIM Advisors, Sabre Fund Management, Tachibana Securities and Prudential Bache. He is a qualified Chartered Accountant, a Fellow of the Securities Institute, an alumnus of the London Business School and an Associate member of the U.K. Society of Investment Professionals. He holds an honors degree in Economics and Quantitative methods.

9:00 - Keynote Presentation - Beyond Past Performance: Evaluating Managers on Overall Portfolio Construction
Mick Swift
Research Director
Abbey Capital Limited

Michael Swift is a Director and Principal at Abbey Capital. He is responsible for Risk Management, Manager Due Diligence and selection for Abbey Capital. In 1984, he joined the treasury division of Bank of Ireland where he traded Foreign Exchange and Interest Rate Markets on a proprietary basis. In 1992, he became Head of Interest Rate trading at Bank of Ireland. In 1994, Mr. Swift was appointed Treasurer and EVP at Bank of Ireland’s New York Branch where he ran a trading and sales operation until 1997. Returning to Ireland in 1997, he was appointed Head of Foreign Exchange and Euro Interest Rate Trading for the bank. Mr. Swift joined Allied Irish Capital Management in August 1998 as a director. While at AICM he worked initially in a trading capacity and subsequently on product research and risk management.

9:30 - A Shift in Focus: The Growing Influence of the Middle East and Asia
Grant Ballantine
Senior Consulting Actuary
Government Actuary's Department

Grant Ballantine is a Senior Consultant Actuary in the Government Actuary’s Department in the UK. For the last 13 years, Mr. Ballantine has led the team responsible for giving actuarial advice on occupational pensions, including advice to plan sponsors of unfunded public service schemes and to trustees of funded pension arrangements. An important component of the work is advice on appropriate investment strategy for plan assets, taking account of the nature and term of the liabilities, and advice on investment manager structure. He has provided assistance to some overseas territories on a suitable framework for pension provision, including the interface between social security and private pension provision. Prior to joining GAD, Mr. Ballantine worked for an Edinburgh insurance company, and then enjoyed working in the Far East with an American insurance network.

Joseph Joseph
Head of Hedge Funds
Alternative Investment Group Global Investment House, Kuwait

Mr. Joseph Joseph is the Head of the hedge funds team at Global Investment House Kuwait and has over 12 years of experience in hedge funds, private equity and corporate finance. He has been involved in completing several equity transactions primarily in the GCC / MENA region and also other emerging markets such as India and China. Mr. Joseph’s experience over the last four years has been focused on completing transactions in the GCC / MENA region keeping in mind financial and regulatory constraints, identifying new opportunities across sectors such as retail, hospitality and real estate, education, healthcare and manufacturing. He sits on the investment committee of Global's private equity funds, which collectively has over US$ 1.4 billion assets under management.

Prior to joining Global, Mr, Joseph was with Ernst & Young, India responsible for M&A private equity and transactions advisory services. He was involved in cross-border public and private acquisitions, divestitures, transaction evaluation and advising companies on their IPOs and JVs. He is on the Board of several companies in the region including portfolio companies and is also engaged in supporting portfolio companies with their business plans. He has a degree in Engineering and an MBA from T.A. Pai Management institute, India.

Rob Rahbari
Managing Director
RAS Capital Management LLC

Robert Rahbari is co-founder and Managing Director of RAS Capital Management LLC. Mr. Rahbari is primarily responsible for manager due diligence, operational, legal and compliance areas for RAS. He has also appeared at numerous global conferences focusing on Indian markets, spoken on CNBC and other financial news programs, co-authored several articles on Indian markets for global publications, and been widely quoted in the press for his views on India. Prior to RAS, Mr. Rahbari served as Director and Chief Compliance Officer of Ferro Capital LLC, a global fund-of-hedge-funds management firm based in New York. At Ferro Capital, Mr. Rahbari was responsible for the manager due diligence process as well as various legal and compliance matters for the firm and its underlying managers. His prior experience also includes practicing law in the investment management groups of Skadden, Arps, Slate, Meagher & Flom LLP and Weil, Gotshal & Manges LLP, where he specialized in hedge funds, funds-of-funds and other private investment vehicles and their investment managers. Rob received his JD from the University of Chicago in 1996 and his BA in Economics (Honors) from the University of Michigan in 1993.

Anu Sahai
Managing Principal
Anew Capital Management

Anu Sahai has over 15 years of investment experience spanning convertibles, high yield and equities. Ms. Sahai started Anew Capital Management in October 2006 and is the Portfolio Manager of the Anew India Opportunity Fund, an opportunistic long /short India focused fund that invests primarily in equity and convertible securities. Prior to starting Anew Capital, Ms. Sahai was the Portfolio Manager of the Convertible portfolios at ING for five years. She joined ING in 1997, managing equities, high yield and convertibles portfolios during her career there, in each case outperforming benchmarks significantly. Before joining ING, Ms. Sahai was Head of Indian Research Sales in Hong Kong with Marlin Partners, a London based institutional stockbroker. She started with them as an Indian Equity Analyst and helped develop the research product and methodology for analyzing Indian companies. Ms. Sahai has an MBA from the Indian Institute of Management, Ahmedabad, and a Bachelor of Science degree in Statistics from Bombay University. Ms. Sahai is a member of the CFA Institute and a member of the American Mensa.

Bindesh P Shah
Co-Founder
Amiri Capital

Bindesh Shah was the former head of Islamic finance at Lloyds TSB where he successfully launched the Scottish Widows Shariah compliant mutual fund. At Lloyds TSB he also led the development of a partnership with ICICI Bank, one of India's leading banks. Mr. Shah began his career as a strategic management consultant at LEK consulting and worked as a consultant at McKinsey & Company. He is an Economics graduate of the University of Cambridge and earned an MBA from Wharton.

10:45 - European Pensions: What is Next in the Relentless Pursuit of Alpha?
Edoardo Bounous
COO
Mangart Capital Advisors SA

Edoardo Bounous is COO of Mangart Capital Advisors SA the investment adviser to Mangart Global Fund, the global macro hedge fund founded by Claudio Zampa in May 2000. In this role Mr. Bounous is responsible for the day to day running of the firm including operations, legal, marketing and strategy. Prior to joining Mangart, Mr. Bounous worked at the FTSE 250-listed Euromoney Institutional Investor PLC where he was a member of the executive committee and a main board director. He holds a degree from the University of Economy and Commerce in Turin.

Wolfgang Ettl
Scheme Actuary
APK, Austria

Dr. Wolfgang Ettl is the Reviewing Actuary of the APK (Allgemeine Pensionskasse) in Austria. In this position, Dr. Ettl reviews and supervises the pension fund of APK in all actuarial problems and everyday business on behalf of the beneficiaries. He is the Consulting Actuary for more than 100 medium and large companies in Austria and Germany for pensions and related problems and the Reviewing Actuary for valuations of structured investment products to support auditors. Dr. Ettl received his Dr. Phil in Mathematics from the University of Vienna, his Degree in Actuarial Mathematics from the Technical University of Vienna and his Ph.D. (Venia Legendi) in Actuarial Mathematics from the Technical University of Vienna. He is a fully certified member of the Actuarial Society of Austria, Germany and Switzerland and a member of several statistical and mathematical societies. Consulting Actuaries is involved in reviewing and rechecking the business of the pension fund APK from the actuarial point of view on behalf of the beneficiaries. Additionally, the firm’s staff proposes necessary changes to the technical business and long-term investment strategy to the actuary and the board of the pension fund APK. This pension fund has €2.4 billion under management.

Sheila Gleig
Associate
BESTrustees plc

Sheila Gleig is an Associate of BESTrustees plc and until recently was Chairman or Independent Trustee of several large pension schemes including the British Coal closed schemes and Orange. She remains Chairman of the National Bus Pension Fund and the Bus Employees Superannuation Trust and holds the certificate of Trusteeship from the Pensions Management Institute. Previously she was Director of Pensions at TSB Group plc, having also been Pensions Manager at WH Smith and Ferranti plc.

A former council member of the National Association of Pension Funds and Chairman of its Education Committee, she was a regular contributor to NAPF courses and seminars. Ms. Gleig was a Council member of the Occupational Pensions Advisory Service from its inception until October 1999 and for some years a committee of management member of OPAS the Charity. She served for six years as a member of the Pay Review Body for Nurses and Professions Allied to Medicine. Ms. Gleig was named Pensions Manager of the Year in October 1995 by Pensions Management magazine and the Pensions Management Institute. This was the first occasion a personal award of this type had been made. In the 2004 Honours list, she was awarded a CBE for her work on the British Coal Pension Schemes.

Daniel Peters
Investment Consultant & Actuary
Aon Consulting

Daniel Peters is an investment consultant who has worked for Aon Consulting for 7 years. He advises both trustees and employers on a wide range of investment matters, with a particular focus on helping clients better understand the risks they face and take steps to mitigate them. Having spent time working within the actuarial practice, he utilises his knowledge and understanding of pension scheme liabilities to bring optimal solutions to issues currently facing trustees and employers. Mr. Peters graduated from University College London with a first class honours degree in Statistics. He is a qualified actuary and also holds the Investment Management Certificate (IMC) from the Society of Investment Professionals.

11:30 - Regulatory Outlook Panel
Walter Zebrowski, JD, CPA
CIO, Hedgemony Partners; Chairman, Regulatory Compliance Association

Walter Zebrowski has served in senior management roles for several alternative investment funds since 1992, including CIO, COO and CFO/CSA. The funds focused primarily on market neutral strategies (i.e. quantitative, convertible, merger & acquisition arbitrage); utilized technical and quantitative models to analyze and evaluate multiple markets and asset classes, or concentrated on private equity investments and transactions. Within the Fund of Funds arena, Mr. Zebrowski analyzed, evaluated and conducted due diligence on hundreds of investment managers using various investment management strategies in multiple asset classes.

Currently, Mr. Zebrowski serves as CIO of Hedgemony Partners, an alternative investment management and technology development firm focusing primarily upon distress and development stage opportunities within the alternative investment management company arena. The firm employs an activist strategy in managing its portfolio of company investments by having members of the firm serve as senior management for portfolio companies. Hedgemony Partners delivers the infrastructure and support of a Multi-Strategy Hedge Fund and the capital sourcing capabilities of a boutique Investment Bank for Hedge Fund Management companies. The Hedgemony model supplies a Manager with comprehensive institutional infrastructure (people, processes, systems and governance) to secure large allocations and mandates while preserving their independent enterprise value and entrepreneurial spirit.

As an avid speaker and author, Mr. Zebrowski has moderated panels and presented to organizations such as Institutional Investor, IIR/GAIM, MarHedge, Global Association of Risk Professionals and the AICPA. As Chairman of the Regulatory Compliance Association’s CCO University, he oversees the entire Masters of Compliance Degree Program. The CCO University curriculum spans over 28 classes, and 192 hours of course work. The faculty of professors includes many blue chip COOs, CFOs, CCOs, GCs, CROs, attorneys and CPAs, as well as senior members of regulatory authorities.

Kevin O'Connor, JD
Associate Attorney General
US Department of Justice

Kevin J. O'Connor was appointed by President George W. Bush and unanimously confirmed by the United States Senate as Connecticut's 48th United States Attorney in 2002. Mr. O'Connor also currently serves as Chief of Staff to the Attorney General of the United States. From January to April 2007, Mr. O'Connor served as Associate Deputy Attorney General of the United States. Prior to his appointment as United States Attorney, Mr. O'Connor was a partner in the law firm of Day, Berry & Howard in Hartford, Connecticut. While with Day, Berry & Howard, Mr. O'Connor also served from 1999 to 2001 as Corporation Counsel for the Town of West Hartford, Connecticut. From 1995 to 1997, Mr. O'Connor served as Staff Attorney and Senior Counsel in the Division of Enforcement of the United States Securities & Exchange Commission in Washington, D.C. From 1993 to 1995, Mr. O'Connor was a litigation associate with the law firm of Cahill Gordon & Reindel in New York City. From 1992 to1993, Mr. O'Connor served as a law clerk to the Honorable William H. Timbers of the United States Court of Appeals for the Second Circuit. Mr. O'Connor graduated in 1992 with high honors from the University of Connecticut School of Law and with honors from The University of Notre Dame in 1989.

Michael Robinson
General Counsel
Millennium Partners, UK

Michael B. Robinson is a Managing Director and the General Counsel – International of the Millennium Partners group, a global hedge fund group with over $13 billion in assets under management globally and offices in New York, Greenwich (Connecticut), London, Paris, Luxembourg, Singapore, Hong Kong and Beijing. As such, he is a partner or director of many of the group’s non-US investment managers, and the FSA approved compliance officer of the group’s UK managers. Prior to joining Millennium, Mr. Robinson was a Corporate Attorney with the New York and London offices of Fried, Frank, Harris, Shriver & Jacobson LLP.

Bruce Robson
Manager - Asset Management Sector
FSA

Bruce Robson joined the FSA in December 2000, initially working as a supervisor in one of the FSA's predecessor Self Regulatory Organizations, the Investment Management Regulatory Organization. His focus then was on supervising asset management firms, which has been a core element throughout his regulatory career. Mr. Robson has also supervised stockbrokers, independent financial advisers and various other retail market participants, as well as overseeing a number of significant sectoral issues. Mr. Robson has managed teams throughout his career and currently manages the Asset Management Sector Team, a position he took up in early 2006. Before joining the FSA Mr. Robson had 14 years experience working in a wide range of roles with 2 major UK financial services groups, including stints in Compliance and Internal Audit.

12:15 - FX Investing
Wolfgang Ettl
Scheme Actuary
APK, Austria

Dr. Wolfgang Ettl is the Reviewing Actuary of the APK (Allgemeine Pensionskasse) in Austria. In this position, Dr. Ettl reviews and supervises the pension fund of APK in all actuarial problems and everyday business on behalf of the beneficiaries. He is the Consulting Actuary for more than 100 medium and large companies in Austria and Germany for pensions and related problems and the Reviewing Actuary for valuations of structured investment products to support auditors. Dr. Ettl received his Dr. Phil in Mathematics from the University of Vienna, his Degree in Actuarial Mathematics from the Technical University of Vienna and his Ph.D. (Venia Legendi) in Actuarial Mathematics from the Technical University of Vienna. He is a fully certified member of the Actuarial Society of Austria, Germany and Switzerland and a member of several statistical and mathematical societies. Consulting Actuaries is involved in reviewing and rechecking the business of the pension fund APK from the actuarial point of view on behalf of the beneficiaries. Additionally, the firm’s staff proposes necessary changes to the technical business and long-term investment strategy to the actuary and the board of the pension fund APK. This pension fund has €2.4 billion under management.

Ed Baker
Chairman
The Cambridge Strategy Asset Management

Edward D Baker is currently Executive Chairman of The Cambridge Strategy, a London based hedge fund group. He was the Chief Investment Officer of Emerging Markets Growth Equities at Alliance Bernstein in London until April of 2007. Mr Baker joined Alliance Capital in 1995 and served as head of their Emerging Markets Growth Equity and speciality portfolios businesses and also served as CEO of their London office. Prior to joining Alliance in 1995, Mr Baker worked for Barra, Inc., an investment technology firm. He joined Barra in 1978 and became Director of Marketing in 1986.

Mr. Baker is a member of the board of directors of Bullrun Financial, an investment technology firm. He also serves as Editor-in-Chief of the Investment Management Consultants Association’s Journal of Investment Consulting. He is the Chairman of the Equity Advisory Group of the Institute of International Finance, and a Trustee for the Mathematical Sciences Research Institute, the UC Berkeley Foundation and The Fine Arts Museums of San Francisco. Mr Baker earned an MS Degree in Mathematics from the University of California at Berkeley, where he was a Regents Fellow and completed work there towards a Ph.D in both mathematics and finance.

Demetris Efstathiou
Director
Argo Capital Management Limited

Demetris Efstathiou joined Argo earlier this year from Morgan Stanley where he spent 5 years on the emerging markets proprietary trading desk, responsible for trading emerging market debt, foreign exchange and interest rates. Prior to that he spent eight years at London Forfaiting, originating and trading a variety of debt transactions and was responsible for setting up their Hong Kong office. He has an MBA from the London Business School. Mr. Efstathiou is the fifth member of Argo’s Investment Committee.

Adrian Owens
Manager - JB Currency Fund
Augustus Asset Managers

Adrian Owens joined Augustus Asset Managers Limited in 1995 from Yamaichi International (Europe) Ltd where he was the Bank’s European Economist. From 2001 until 2002 Mr. Owens was based in the Julius Baer New York office where he oversaw the US fixed income investments. Mr. Owens is Lead Manager of the JB Global Rates Hedge Fund and Portfolio Manager for the JB Currency Hedge Fund. He has a Masters degree in Economics from McGill University, Montreal.

Michael Stivala
Co-Portfolio Manager
MKP Capital Management, L.L.C

Michael Stivala joined MKP Capital Management in February 2006. He is Co-Portfolio Manager for MKP Global Futures Fund, and also a Member of the Team of Portfolio Managers for MKP Opportunity. Mr. Stivala previously worked at Financial Risk Management (FRM), where he was a Senior Vice President in charge of their allocations to systematic trading strategies, as well as a Portfolio Manager for FRM's CTA fund of funds (2003-2006). Prior to FRM, Mr. Stivala spent fourteen years at Commodities Corporation, a subsidiary of Goldman Sachs, where he had a number of responsibilities including relative value strategy hedge fund due diligence (2001-2003), Portfolio/Risk Analyst (1989-1993 and 1998-2001), and Proprietary Trader (1994 -1997). He has a B.A. degree in Economics from Rutgers University.

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