Programme

Minimising risk and optimising return

8.20	Registration and breakfast
8.50	Chairman’s welcome address Richard Metcalfe, Deputy Regional Director, EMEA, & Head of Policy & Senior Regulatory Adviser, ISDA
9.00	Keynote Address A political perspective on current market conditions Philip Hammond MP, Shadow Chief Secretary to the Treasury
9.30	Keynote Address London in the global financial marketplace of 2008 Sir Mark Weinberg, Chairman, Pension Corporation
10.00	Investment strategist roundtable: Balancing risk and returns in today’s volatile markets The motivations behind derivatives exposure: Hedging, trading, arbitrage Accessing new markets through the Ucits III compliant funds and examining the growing application of derivatives in these harmonised funds Investigating technological innovations sparked by increased use of derivatives in portfolio management Opportunity knocks: Managing exposure in erratic markets through the sophisticated use of derivatives Colin McLean, Managing Director, SVM Asset Management Desmond Fitzgerald, Chief Executive Officer, Equitable House Investments Edwin Meysmans, Managing Director, Pensioenfonds KBC Jez Bezant, Head of Business Management, Morley Fund Management Richard Lacaille, Head of Global Active Equities, State Street Global Advisors Malcolm Kemp, Executive Director, Head of Quantitative Research, Threadneedle Asset Management
10.40	Plenary Address Market Crisis: Lessons learned from the crisis and future opportunities for derivatives Nick Tranter, European Head of Flow Sales, EQD, BNP Paribas Betrand Delarue, Global Head of Product Engineering, EQD, BNP Paribas
11.10	Morning refreshments
	Stream one: The place of derivatives in macro-economic landscape of 2008	Stream two: The value of derivatives for robust portfolio management
11.20	Chairman's opening remarks Richard Metcalfe, Deputy Regional Director, EMEA, & Head of Policy & Senior Regulatory Adviser, ISDA	Chairman's opening remarks Patrik Sandin, Global Head of Structuring, Fixed Income, BNP Paribas
11.30	Derivatives are hedging tools: Ensuring they are not creating risk Incorporating derivatives into portfolio strategy The legal perspective: Using derivatives as part of a global investment strategy Operational risks of derivatives usage: People, processes and systems John Noorlander, Head of Portfolio Strategy, Helvetia Insurance	Vanilla through to exotics: Where does real investor appetite lie? Plain vanilla vs. exotics in efficient risk management Hidden dangers in complex products Why financial institutions missell exotic products Where do we go from here Desmond Fitzgerald, Chief Executive Officer, Equitable House Investments
12.00	The importance of transparency in getting the most out of derivatives Getting banks to improve the transparency of their structuring processes Are risks being correctly valued in the current structuring process? Investors, banks, auditors, rating agencies: Getting the key players working together to deliver transparency Federico Galizia, Monetary and Capital Markets, International Monetary Fund	How to enhance portfolio value through smart derivatives: From portable alpha to financial engineering Francesco Sandrini, Head of Institutional Portfolio Managers and Financial Engineering, Pioneer Investments Global Asset Management
12.30	A political perspective of derivatives markets and their impact on the global economy The role of derivatives markets in fulfilling political agendas of globalisation and anti-protectionism Impact of current legislation changes on European derivative users, and are policymakers heading along the right track? Speaker to be confirmed	The role of hidden assets in hedging strategies Further details to be confirmed An expanding range of hedging innovations and market neutral investment solutions Vega positive products as a hedge for FoF and equity funds Reducing drawdowns for FoF Emmanuel Naim, Head of equity linked structured products, Société Générale
13.00	Lunch
14.00	Executive Address Derivatives for the long run Will derivatives continue to shape, shake and move the rapidly-changing financial landscape? How to deal with the systemic risk consequences of the dark or complex side of derivatives How important is transparency in getting the most out of derivatives (taking into account the needs of investors, banks, auditors, and rating agencies)? Case-study: importance of derivatives for selected market participants in the government bond markets: issuers, investors and intermediaries Hans J. Blommestein, PwC Professor of Finance, Tilburg University and Head of Capital Market Programme, OECD
14.30	Engineering Investment Returns: Role of global derivatives in making portfolio construction modular and efficient The basic building blocks and risk budget optimisation The alpha beta continuum LDI: Déjà vu? Jayesh Bhansali, Managing Director, Head of Global Derivatives Strategies and Trading, TIAA-CREF	East is East and West is West, and never the twain shall meet? Opportunities for the savvy investor in the derivative markets of liquidity rich emerging markets To what extent do fundamental ideas about optimal risk / return profile matter in emerging markets Vanilla vs. exotics: Picking the best instrument for the particular market Marlies van Boven, Head of Quantitative Analysis, Baring Asset Management
15.00	After the tsunami: Reinventing the structured credit market The sins of the past: lessons learned The new phase of credit disintermediation The next step: giving efficient and liquid access to credit performance Expanding the credit derivatives technology: CFXOs, CCOs, EDOs and credit hybrids Lorenzo Isla, Head of Structured Credit, BBVA Global Markets	Designing and implementing a liability driven investment strategy for KBC pension fund Understanding the drivers for restructuring the investment strategy to LDI Use of derivatives in LDI Key areas of new approach : matching and return portfolio Generating on and above target returns using LDI First results Edwin Meysmans, Managing Director, Pensioenfonds KBC
15.30	Afternoon break
15.50	Property Derivatives: a demon of our own making? Further details to be confirmed Gerald Blundell, European Director of Strategy and Research, LaSalle Investment Management	Selecting the right derivative product for your asset allocation strategy Are derivatives necessary for a successful asset allocation strategy? Setting an appropriate risk budgets within overall level of risk appetite What do different combinations of derivatives bring to a portfolio? The associated technology costs of investing in new derivative tools Larry Abele, Managing Partner, Auriel Capital Management LLP
16.20	Using derivatives to construct effective investments in a time of crisis How should investors manage their use of derivatives in a time of liquidity crunch? The impact of recent market events and strategies to consider in mitigating the resulting risk. Real time examples of effective risk management tools in a time of financial uncertainty Daniel W. Wallick, Principal, Investment Strategy Group, Vanguard	People and derivatives expertise – the vital link to increased derivatives usage in the fund management industry Communicating the benefits of derivatives to investors and vendors Bridging the gap between retail and institutional users and derivative usage Transparency, a prerequisite to sustainable use of derivatives The need to deal with investment and marketing issues in one integrated approach Thomas See, Head of Structured Mutual Funds, Schroder Investment Management
16.50	Roundtable A world of opportunity: Derivatives for portfolio optimisation in 2008 and beyond The developing partnership between sell-side and buy-side as a driver for enhanced product innovation The perception of derivatives: Thoughts from investors, fund managers, providers and regulators How derivative products are responding to the new green investment themes Axel Lomholt, Head of ETF Product - Europe & Asia-Pacific x Japan, Barclays Global Investors Bas Peeters, Head of Structured Products, ING Investment Management Daniel Seymour, Senior Managing Director, XL Investment Management Ido de Geus, Head of Treasury, PGGM Investments Karsten Kjeldsen, Senior Portfolio Manager, Investment Department, SEB Pension Philippe Ankaoua, Managing Director, Seven Seas Asset Management
17.30	Chairman’s closing remarks
17.40	Close of summit and cocktail reception