FORUM - Euromoney Institutional Investor PLC

Speaker ProfilesAlan AlbertLK AdvisersAlan Albert has over 30 years experience of managing investments on behalf of both private individuals andinstitutions. For the past seven years, Alan has been CIO of the Mittal Family Investments, one of the largestfamily offices in the UK. Previously, he was a senior managing director of Merrill Lynch Asset Management.Robert FairbairnBlackRockRobert Fairbairn is chairman of BlackRock’s business in EMEA and Australia and was previously a senior vicepresident of Merrill Lynch, and head of MLIM’s EMEA Pacific region. In this role, he had managementresponsibility for all MLIM’s business outside the US. Prior to joining MLIM, Robert worked for LazardInvestments and GT Management.Kevin GundleAurum FundsKevin Gundle is senior executive officer of Aurum Funds, a director of several of Aurum’s Bermuda listedoffshore funds and Knightsbridge Information Services Ltd – the research arm of the Aurum Group. Kevin hasbeen investing in the alternative investment markets for more than 16 years and is a founding member ofAurum Fund Management Ltd.Stephan HowaldtHermes Focus Asset Management EuropeStephan Howaldt runs Hermes’ flagship $3 billion shareholder engagement investment fund – the EuropeanFocus Fund. He is also a member of the Hermes Group Executive Committee. Stephan has substantialexperience as a change agent in public companies improving returns for shareholders. Before Hermes, Stephanworked in investment banking at UBS Warburg and as a senior member of Siemens’ M&A team.Chris MansiWatson WyattChris Mansi is a senior investment consultant with Watson Wyatt. He provides consulting advice to a broadrange of institutional clients, and works with a number of pension funds with assets in excess of £1 billion. Chrisis also head of Watson Wyatt’s UK research team covering fund of hedge funds. Chris joined Watson Wyatt in1999, having previously worked at Aon Consulting.ConfirmedSpeakersAlan Albert, LK Advisers LimitedJohn Angell, RMF InvestmentsChris Bouckley, Caliburn CapitalRobin Bowie, Dexion CapitalBill Browder, Hermitage Capital ManagementMark Cecil, MAB PartnersJennifer Coffey, HRJ CapitalRob Fairbairn, BlackRockChristophe Gruenig, Harcourt Investment ConsultingKevin Gundle, Aurum Fund ManagementEdward Horner, Eden Rock Capital ManagementStephan Howaldt, Hermes Focus Asset ManagementRobert Howie, MercerPhil Irvine, Liability SolutionsLars Jaeger, Partners GroupVera Kaeppler, Saad Financial ServicesJason Kellman, Pinnacle Asset ManagementNikos Latsos, AlpheusChris Mansi, Watson WyattPaul Marshall, Marshall Wace Asset ManagementCarl Mauritzon, Dartmouth Capital PartnersPaul Myners, ErmitageAndrew Shrimpton, Kinetic PartnersDavid Smith, GAMThomas Strauss, Ramius HVB PartnersJim Vos, Aksia Research and ManagementAlex Ypsilanti, Merrill LynchFor further speakers please see the websitePaul MynersErmitagePaul Myners is chairman and a significant shareholder in Ermitage Limited, a Jersey fund of hedge fundsmanager. He is also chairman of Land Securities, the Trustees of Tate and a member of the Court of the Bank ofEngland, and former chairman of Gartmore and Marks & Spencer.

A unique event in association with EuroHedge for anyone who needsto know what the world of hedge fund investors is looking for next.It is a chance to mix with some of the largest hedge fund investorsin the world with assets totalling more than $250 billion*Whyattendthe InvestHedgeForum 2007?Comprehensive programme for a “New worldof hedge fund investing”The investor packed agenda will look at what thedifferent types of investors, including familyoffices and pension funds want, latest productinnovations and whether or not funds of fundshave had their day, as well as hot hedge fundissues such as shareholder activism that affect allparts of the hedge fund investment universe.Top industry speakersLeading investors and managers are lined up tospeak, including keynote speeches fromDavid Smith of GAM and Paul Marshall ofMarshall Wace.Guest moderator Paul Myners of Ermitage will bemoderating what could be a highly charged panelon shareholder activism. Joining him are BillBrowder of Hermitage, Tom Strauss of Ramius HVBPartners and Andrew Shrimpton of Kinetic Partners.Other panellists include Kevin Gundle of AurumFunds, Chris Bouckley of Caliburn Capital,Chris Mansi of Watson Wyatt, and Lars Jaegerof Partners Group. For further speakerssee overleaf….Run your business betterNot only will you be able to debate with industryleaders in the conference sessions, but theconference is complimented by a state-of-the-artexhibition showcasing a wide range of marketleadingproducts and services that will help yourun your business better.Quality audienceIf you want to meet leading hedge fund investorsand managers, then this is the conference to beat. Over 500 delegates are expected to attend. Inprevious years more than two thirds of delegateshave been hedge fund managers and investors.We expect at least a similar attendance this year,with only a limited number ofnon-manager/investor tickets available.*Total assets of the investors that attended the EuroHedge & InvestHedge Forum in 2006Previous AttendeesABN AMRO Asset Management | Absolute Return Objective | ADI | Alternative Leaders France | Alvine Capital Management | Amber Capital | Apeiron GestionAlternativa | Argent Financial Group | Argenta RF | ArteFact Partners | Arundel Iveagh Investment Management | Aspect Capital | Athena Partners | AtlanticPhilanthropies | Aurum Fund Management | Autonomy Capital Research | AXA Investment Managers | Banca Del Ceresio | Banca Intesa | Banca Lombarda |Banca Profilo | Baring Asset Management | Bear Stearns Asset Management | Belgravia Capital | Bennelong Asset Management | BlackRock | Bluecrest CapitalManagement | Bourne Park Capital | Brevan Howard Asset Management | Bryan Garnier Asset Management | Caliburn Capital Partners | Cambridge Place InvestmentManagement | Cameron Consultancy | Campbell & Company | Cantab Capital Partners | Cantillon Capital Management | Capita plc | Capital Fund Management |Capula Investment Management | Carbon Capital Markets | Cassian Capital | Cedar Fund | Cedrus Capital | Cevian Capital | Chamberlain Davies Asset Management |Channel House Trustees | Christofferson, Robb and Company | Citation Capital Management | Clareville Capital | Comac Capital | Constellar Capital | CQS Management |Crédit Agricole Structured Asset Management | Cumulus | CypressTree | CZ Capital | Dalton Strategic Partnership | Danske Capital | Dawnay | Day Olympia | DB AbsoluteReturn Strategies | De Putron Fund Management | Deephaven Capital Management | Dosrobles Capital | Duemme Hedge SGR | Dumas Capital | Dynamic Stability | EcofiInvestissements | Ecofin | Eden Rock Capital Management | EDF | Ermitage | Ferox Capital Management | FIM Advisers | Financial Risk Management | Focus CapitalInvestors | Fortis Banque | Four Capital Partners | GAM (UK) | Gartmore Investment Management | Generali Asset Management | Generali Investimenti Alternativi | GLGPartners | Goldman Sachs Asset Management | Goldman Sachs JB Were | GROW Investimentos | Guggenheim Alternative Asset Management | Hamren-Larsson | HanoverInvestors Management | Hatteras Investment Partners | Hawkwood Capital | Henderson Global Investors | HR Strategies Inc. | HSBC Alternative Investments | Hyde ParkInvestment | ING Investment Management | Insight Investment | Itochu Finance (Europe) | Ivy Asset Management | JP Morgan Private Banking | Jupiter Asset Management |JWM Partners | K2 Advisors | Kairos Investment | Key Asset Management | Krom River Partners | Lansdowne Partners | Lazard Asset Management | LCF Edmond de RothschildAsset Management | LEGO Holding A/S | Lionhart Investments | LNG Capital | Lord North Street | M One | M&G Investments | MainFirst Bank | Man Global Strategies |Mangart Capital Advisors | Mangart Global Fund | Marathon Asset Management | MAX Capital partners | Meditor | Mercer | Merebis Capital Management | Merrill LynchInvestment Managers | MMA | Morgan Stanley Principle Strategies | MPC Investors | New Star Asset Management | NewFinance Capital | NewSmith Capital Partners |Nomos Capital Partners | Nordea Investment Managment | Nucleus Financial Advisors | Observatory Capital Management | Oceanwood Capital Management | OldMutual Asset Managers | Omega Asset Management | Optimal Investment Services | Orchid Advisory | Pacific Alternative Asset Management Company | PantonCapital Group | PCE Investors | Pequot Capital | Permal Investment Management Services Limited | Plenum Investments | PMA | Polar Capital | PolygonInvestment Partners | Pragma Wealth Management | Prologue Capital | Protégé Partners | Prudential | Psolve Alternative Investments | Quest TradingManagers | RAB Capital | Regent Pensions | Renaissance Institutional Management | RMF | Rochester Capital | Rock Capital | Royal Bank of Scotland | RubyCapital Partners | Sabre Fund Management | Sanctum FI | Sandell Asset Management | Schroder Investment Management Limited | SG Private Bank |SGAM Alternative Investments | Signet Capital Management | Silver Point Europe | South Yorkshire Pensions Authority | Spectrum Global FundAdministration | Spencer House Capital Management | Standard Bank | Stoneworks Asset Management | Systeia Capital Management | TCI Fund |Tell Investments | THALÌA SA | Thames River Capital | Thayer Brook Partners | Theta Capital Management | Threadneedle Asset Management |Tiburon Partners Ltd | Trafalgar Asset Managers | Tremont Capital Management | UBS | Whitebeam Capital Management | Winton CapitalManagement | Zen Asset Management | Zisne Capital

programmeTuesday 18 September 200708.00 - 09.00 Doors open and registration09.00 - 09.15 Welcome and introduction09.15 - 10.00 How will hedge funds fit into the asset management landscape of the future?Hedge funds are becoming part of the mainstream asset management industry withlong only firms launching hedge funds and hedge fund firms entering the long onlyarena, as well as the influx of hybrid alpha extension products such as the 130/30funds. As everyone finds a way to participate in the quest for alpha are the investorsgetting value (and alpha) for their money or simply getting confused? Can hedge fundsbe a big part of the asset management landscape or will capacity limit them? And ifthey are not, what hybrid will really soak up the flood of assets looking for alpha?10.00 - 10.45 What do investors want from hedge funds and are they getting it?In the past investors simply accepted that if they wanted alpha they got what they weregiven on the terms that the hedge fund decided. Today investors are far more savvyand there are far more product providers, so investors can to a certain extent dictatewhat they want, whether it is a particular structured product, a set liquidity or riskreturn profile. So what do investors want from hedge funds? Are they getting it? Andwhere are they getting it from? Who is really offering the end investors what they want?10.45 - 11.15 Break11.15 - 12.00 Keynote Speaker: David Smith, GAM12.00 - 12.45 Are funds of hedge funds living on borrowed time?Funds of hedge funds have always had a hard time defending their role in the hedgefund arena with fee justification one of the primary topics of discussion. It seems thatevery time a new product turns up on the market, such as investable indices, multistrategyfunds and now the hedge fund replicators, the future of funds of funds seems tohang in the balance. Funds of funds manage about half the hedge fund assets globallyat the moment, but is their future in danger as investors become more sophisticated? Orwill there always be a new investor looking for a fund of funds? Is the rise of alternativebeta providers a real threat to the funds of funds industry?12.45 - 14.00 Lunch14.00-14.45 Keynote Speaker: To be confirmed14.45 - 17.30 Stream sessions to include:• Is portable alpha still in vogue?• Credit investing• Is listing still the answer to asset raising?• Due diligence pitfalls to avoid• Is 130/30 a fad or the future?• Risk management – what’s new?• Structured products – crucial tool or expensive con?• Commodity investing• Exotic assets17.30 - 20.00 CocktailsDavid SmithGAMDavid Smith is chief investmentdirector for GAM Multi-Manager. He isresponsible for GAM's multi-strategyinvestments and co-manages severalsingle strategy portfolios. Prior tojoining GAM in 1998, David was headof investment research andmanagement at Buck Consultants. Hejoined Buck in 1992 from the actuarialinvestment consultancy division of aleading firm of consultants. David holdsa BA (Hons) in Economics and hasassociate qualifications from IIMR andthe Securities Institute."Education is key to the industry'shealthy growth and InvestHedgeaims to use the deep-rootedinformation resources of EuroHedgeto assist in this process. TheInvestHedge Forum is the only placethat all investors in hedge fundshave a chance to discuss the topicsclose to their hearts. By comingtogether each year to exchangeideas and find out what works,InvestHedge aims to empowerinvestors to use the hedge fundstools for maximum impact"Niki Natarajaneditor, InvestHedgeInvestHedge is the leading commentator on investors in hedge funds globally,providing quality news, analysis and data to managers and investors

programmeWednesday 19 September 200708.00 - 09.00 Doors open09.00 - 09.15 Welcome and introduction09.15 - 10.00 Opportunities facing the UK’s institutional investorsIn the first six months of 2007, UK institutional investors invested more than $2 billioninto hedge funds. The UK investor market is finally ready to look at the opportunities inthe absolute return investing arena. What is it that UK investors are buying? What doproviders need to do to tailor their offering to satisfy this growing market? Who are theUK institutional investors turning to for their opportunities?10.00 - 10.45 How are consultants adapting to the increasing hedge fund appetite?Traditionally, consultants have always been the gatekeeper to the institutional investormarket. As the hedge fund market starts to gain momentum, many believe that theirtraditional advisors are no longer equipped to help them in this new and fast-growinghedge fund market. Is this the case? Or are the consultants adapting to their clientsgrowing hedge fund needs and how are they doing this?10.45 - 11.15 Break11.15 - 12.00 Keynote Speaker: Paul Marshall, Marshall Wace Asset Management12.00 - 12.45 Extracting returns from funds of funds: are niche funds the answer to keepingreturns buoyant?With some 500 fund of funds management companies and thousands of products onthe market, how are firms maintaining an edge and their returns? A number of moreadventurous groups are starting to launch opportunistic or strategic funds of funds, whileothers are entering exotic areas like asset based lending, energy, or emerging markets tolook for returns. Is this the future of the funds of funds industry?12.45 - 14.00 Lunch14.00 - 14.45 Hedge fund activists: The shareholders friend or foe?The rapid rise of shareholder activism is arousing strong and very divided opinions and isalso increasingly attracting the attention of market regulators. Chaired by Paul Myners thepanel will include Stephen Howaldt at Hermes; Bill Browder from Hermitage as well as TomStrauss of Ramius HVB Partners and Andrew Shrimpton, the former head of the UK FSA’shedge fund group.14.45 - 15.30 What is the smart family office looking for?Family offices were among the first investors in hedge funds as the wealthy havealways been looking for ways to preserve and enhance their hard earned money. Ashedge fund returns are starting to be eroded, just what are these family offices puttingtheir money into these days? Are they still looking at hedge funds?15.30 - 16.00 Break16.00 - 16.45 Routes investors can take to enter the hedge fund marketAs the first time investor starts to look and consider hedge funds seriously, many areoverwhelmed by the size and variety of offering on the market. Additionally each advisorgenerally has a particular area of expertise, so how does an investor decide whether togo direct or via funds of funds, or should an investor save money and buy an investableindex or replicator, and what is the difference?16.45 ClosePaul MarshallMarshall WacePaul Marshall is chairman of MarshallWace LLP, one of Europe’s leadinghedge fund groups with over $11.5billion under management in equitylong/short strategies, which he cofoundedin 1997. It manages anumber of award-winning fundsincluding the Eureka Fund. Paul is afounder partner of Marshall Wace andwas formerly a director of MercuryAsset Management (MAM) where hewas chief investment officer forEuropean Equities.BUY 2 TICKETS GETTHE 3RD FREEAvailable to hedge fundmanagers and investors only(Not applicable to any other discounts)BOOK EARLY & SAVE.... book now online atwww.euromoneyplc.comor complete the form overleafProgramme is subject to change. Please see website www.hedgefundintelligence.com for up to date programmePublished by HedgeFund Intelligence. For moreinformation visit www.euromoneyplc.com

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