Venue: Palais de la Bourse
Location: Paris
Dates: Tuesday, 28 April 2009 - Wednesday, 29 April 2009
Programme
17.30 -19.30
Wine tasting and pre event registration, sponsored by BNP Paribas
08.00 - 09.15 Doors open, breakfast and registration
09.15 - 10.00 Macro – Where next after the crash of 2008?
Is the storms in global markets and the turmoil in the financial system coming to an end? Or is there worse to come? And what is the outlook for the global economy? Leading economists and macro traders assess the prospects for the rest of 2009 and beyond – and the big-picture challenges and opportunities from a macro investment perspective.
Speakers:
Sushil Wadhwani, Wadhwani Asset Management
Guillaume Fonkenell, Pharo
Colm O’Shea, COMAC Capital
T. Michael Johnson, Paulson & Co. Inc.
Susan Payne, Emergent Asset Management
Chairman: Gavyn Davies, Fulcrum Asset Management
10.00 - 10.45 Industry restructuring – A new world order
The hedge fund industry is undergoing a period of profound change and restructuring as a result of the turmoil of the last year. How will it look from now on? A panel of top industry figures discuss the challenges and the opportunities and how the hedge fund management business will be impacted in the long term by the problems of the past year.
Speakers:
Nagi Kawkabani, Brevan Howard
Emmanuel Roman, GLG;
Antonio Borges, Hedge Fund Standards Board
John Demaine, James Caird Asset Management
Moderator: David Leahy, Credit Suisse
10.45 - 11.15 Coffee break
11.15 - 12.00
Investor perspectives – All’s fair in love and war?
The poor performance of hedge funds and the measures taken to protect funds during the crisis have led to a major upheaval in the industry. A panel of experienced investors in hedge funds will examine the changing balance of power between investors and managers, the opportunities and risks ahead and what they want to see in the future.

Speakers:
Kevin Gundle, Aurum Funds
Jean-Michel Raynaud, Mn Services
Gideon Nieuwoudt, Silver Creek Capital
Hamlin Lovell, Millenium Global
Moderator: Bob Sloan, S3 Partners
12.00 - 12.45 Keynote speaker: Greg Coffey, Moore Europe Capital Management
Introduced by: Neil Wilson, HedgeFund Intelligence
12.45 - 14.00 Lunch, sponsored by Isle of Man
14.00 - 14.45 CTAs and Quant Strategies – Proving their non-correlation?
Managed futures, CTAs and systematic trading strategies were the star performers in 2008, earning big returns at a time when most other strategies suffered. With CTAs now back on the radar screen big-time for investors, leading practitioners will discuss their different approaches, how they generate uncorrelated returns and the case for CTAs.
Speakers:
Harold de Boer, Transtrend
Aref Karim, Quality Capital
Lawrence Staden, GLC
Tim Wong, Man AHL
Moderator: Duncan Crawford, Newedge
STREAM SESSIONS
14.45 - 15.30
STREAM I: Investor protection – The latest best practices in infrastructure, custody, cash management, valuation and risk control
Following a year which featured the seismic shocks of the Lehman collapse and the Madoff megafraud, attention has been focused as never before on what should be the appropriate standard of best practice in hedge funds. A panel of leading practitioners debate the latest thinking on what is required in terms of infrastructure, custody, cash management, valuation and risk control.
Speakers:
Neil McCallum, Capula
Martin Pabari, CQS
Stephen Oxley, Pacific Alternative Asset Management
H.Joseph Leitch, Rubicon Fund Management
Moderator: David Aldrich, The Bank of New York Mellon
STREAM II: Managed accounts - The major source of future assets?
For many years, some of the leading strategies in alternative investing – such as managed futures – have always raised a significant portion of their assets from managed accounts. But following last year’s markets shocks and generally negative performance, a greater proportion than ever seems to be getting channelled via managed accounts. A panel of allocators and managers discuss how much further this trend can go.
Speakers:

Nathanael Benzaken, Lyxor
Tony Gannon, Abbey Capital
Martin Phipps, Gartmore
Peter Coates, Lighthouse Partners
Francois Bonnin, John Locke Investments
Moderator: Amanda Cantrell, EuroHedge
15.30 - 16.00 Coffee break
16.00 - 16.45
STREAM I: Funds of funds: Is the model broken? Do they need to be reinvented – and, if so, how?
After a year of generally negative returns, capped off by the Madoff scandal, many are suggesting that the fund-of-fund model – with its extra layer of fees – cannot survive in its current form. A panel debate whether the model needs to be reinvented – and if so, in what ways it can or should be revised.
Speakers include:
Ian Morley, Allenbridge Hedge
Kate O’Neill, RBS
Denise Hitchens, Kedge Capital
Francois Langlade-Demoyen, Pamplona Capital Management
Moderator: William Keunen, Citco Fund Services
STREAM II: The African opportunity
Africa is not for the faint-hearted, with recent market swings showing how vicious a lack of liquidity can be when investors pull back. But, for many of the continent’s economies, growth rates are forecast to remain robust in 2009. Dedicated African managers - whether in the more mature South
African space or elsewhere on the continent - believe the long-term story warrants attention from global allocators. They are also pioneering ways to manage risk while tapping into growth.
Speakers:
Tony Christien, IDS
David Damiba, Renaissance Investment Management
Peter Balint, Erste Group
Andrew Wolfson, Cadiz
Moderator: Neil Wilson, HedgeFund Intelligence
16.45 - 17.30
STREAM I: In the new world order, which domiciles will win out?
Following the recent G20 Summit, there is attention and pressure as never before for change in offshore financial centres or socalled ‘tax havens’. While it is unclear as yet what changes will be forthcoming, the industry has been evolving for some time already away from the standard structures
– such as a Cayman vehicle with a Dublin listing – used by most European managers. A panel of experts discuss what ways this evolution will now take going forward.
Speakers include:
Peter Astleford, Dechert
Richard Hay, Stikeman Elliott

Jon Mills, KPMG
Mark Slater, Bridge Asset Management
Moderator: Tom Raber, Alvine Capital
STREAM II: New opportunities, new perspectives
The dramatic events and market upheavals of the past year are requiring all hedge fund managers and investors to think and act in new and different ways. A diverse panel of single-strategy and multistrategy managers explore how their perspectives and strategies are evolving as a result – and the opportunities that they see.
Speakers:
David Hoey, ABC Arbitrage
Daniel Moreno, Odyssey Emerging Markets
Henrik Rhenman, Rhenman Healthcare
Karl-Mikael Syding, Futuris Asset Management
Moderator: Mikael Spangberg, SEB Merchant Banking
17.30 Cocktails, sponsored by Newedge
08.30 - 09.15 Doors open and breakfast
09.15 - 10.00
Commodities and energy – Riding the rollercoaster
Commodity and energy markets experienced a wild ride in 2008, first booming and then plummeting.
Some say the commodity bubble has burst. Others believe the super-cycle is still very much alive. A panel of specialist traders in oil, energy and commodity markets will discuss the outlook and their strategies for exploiting these most volatile markets.
Speakers include:
Pierre Andurand, BlueGold Capital
Claude Lixi, Galena Asset Management
Shawn Reynolds, Van Eck Global
Frank Holmes, U.S. Global Investors
Stephen Hedgecock, Altis Partners
10.00 - 10.45
Equity strategies – A bonanza for the survivors?
2008 was a brutal year for most long/short equity managers. But a few came through the storm with flying colours and the opportunities in a less crowded space could be spectacular. A panel of managers will assess the outlook for world markets and how they plan to capitalise on the opportunities on offer while continuing to manage the risk.
Speakers include:
Russell Clark, Horseman Capital
Martin Woodcock, Millgate Capital
Charlie Michaels, Sierra Global Management
Roberto Bogoni, Libra Equity
Ragnhild Wiborg, Consepio
Moderator: Nick Evans, EuroHedge

10.45 - 11.15 Coffee break
11.15 - 12.00
Credit and distressed – The best opportunity for a generation?
The current environment looks tailor-made for distressed investing, with the worldwide credit contraction triggering a severe recession and collapse in corporate earnings. At the same time the bombed-out credit markets look ripe for a rally. Top managers in the credit and distressed space will debate the opportunities and the pitfalls to avoid.
Speakers:
Theo Phanos, Trafalgar Asset Managers
Tim Babich, Fortelus Capital
Bob Paine, Advent Capital
Tom Priore, ICP Capital
Moderator: Richard Ernesti, Citi
12.00 - 12.45
Keynote speaker: Elena Ambrosiadou, IKOS
Introduced by: Sujal Kapadia, Barclays Capital
12.45 - 14.00 Lunch
14.00 - 14.45
Shorting and regulation – Shooting the messenger?
The global crisis will bring sweeping change to every area of the financial industry – and hedge funds will be no exception. Leading industry figures will discuss the likely future course of regulation, the political backlash, the impact of short-selling bans and the need for better understanding of the role that hedge funds play in the financial system.
Speakers include:
Jim Chanos, Kynikos Associates
David Yarrow, Clareville Capital
Andrew Baker, AIMA
Martin Cornish, Katten Muchin Rosenman Cornish
Moderator: Giles Williams, KPMG
14.45 - 15.30 Fixed income and currency funds – back on the radar screen
The massive volatility and loss of liquidity in many market sectors in recent months have re-focused investor attention on the most liquid markets and investment strategies. Fixed-income and currency funds are back in favour. A panel of specialist managers will look at different investment strategies for approaching the fixed-income and currency markets.
Speakers:
Lisa Scott-Smith, Millennium Global Investments
Gerard Gardner, North Asset Management
Alan Burnell, Nylon Capital
Chris Brandon, Rhicon Currency Management
David Lofthouse, Prologue Capital
Introduced by: Niki Natarajan, InvestHedge
15.30 - 16.00
Closing Keynote Address: Paul Ruddock, Lansdowne Partners
Introduced by: Nick Evans EuroHedge
16.15 Closing remarks