1. finance
2. investing
3. funds
4. hedge fund

PRESENTED BY
PRO G R AM G UI DE · NO VEMBER 3 -4, 2014 · #HEDG EO POLI S
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Connecting Industry Leaders. Inspiring Opportunity.
Founded in 1996, the Hedge Fund Association, HFA, is a leading global nonprofit trade and nonpartisan
lobbying organization devoted to advancing transparency, development, education and trust in alternative
investments. Membership in HFA includes hedge fund firms, global financial institutions with hedge fund
offerings including private banks, asset management firms and broker dealers, investors including funds of
hedge funds, family offices, public and private pension funds, endowments and foundations, high-net-worth
individuals, allocators and service providers including prime brokers, administrators, custodians, auditors,
attorneys, risk managers, technology firms, third party marketers and other industry consultants.
HFA seeks to help craft public policy and foster opportunities in the global hedge fund and alternative asset
management industry. It acts as an advocate for members by issuing policy statements and position
papers to investors, the media, regulators and legislators. Members of the HFA also serve their
communities by supporting philanthropic causes.
In the U.S., the HFA has chapters in the Northeast, Southeast, Midwest and Southwest. Internationally, the
HFA has chapters in Europe, Asia, Australia, Latin America and the Cayman Islands. HFA works on behalf
of the entire hedge fund industry, including more than 11,000 hedge funds in the U.S. and abroad which
collectively manage in excess of $2.6 trillion in assets.
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Award Winning Hedge Fund Marketing Firm.
Agecroft Partners is a global, award-winning hedge fund consulting and marketing firm that has won 21
awards as the hedge fund Marketing Firm of the Year. Agecroft strives to be a thought leader in the hedge
fund industry and frequently writes white papers relative to trends they see in the hedge fund industry by
leveraging the knowledge they gain through the thousands of investors they are in contact with on a regular
basis. Additionally, Agecroft has emerged as one the most sought after firms by industry conferences and
the media for the company’s views on the hedge fund marketplace and institutional investors. Members of
the Agecroft Partners team have spoken at over 80 alternative investment conferences, have appeared in
hundreds of industry articles and are regular guests on business television including Bloomberg, CNBC,
Reuters Insider, Fox Business News and CCTV.
AGEND A - MONDAY, NOVEMBER 3
11:30 -1:00pm
Registration & Networking
1:00-1:30 pm
Conference Chairman opening remarks
Don Steinbrugge, CFA, Chairman, Agecroft Partners
Director, Hedge Fund Association
1:30-2:30pm
Hedge fund consultants round table
• What are the most important metrics consultants consider when evaluating a hedge fund?
• What specific research process do consultants use to evaluate hedge funds?
• What hedge fund strategies are clients currently looking for?
Panelists:
Adam Perez, Investment Director, Cambridge Associates
Neil Sheth, Partner, NEPC, LLC
Kevin Conroy, Senior Research Analyst - Hedge Strategies, Fund Evaluation Group
Alan Kosan, SVP, Head of Alpha Research, Segal Rogerscasey
Moderator:
Ron Geffner, Partner, Sadis & Goldberg LLP
Vice-President, Hedge Fund Association
2:30-3:30pm
Forecasting expected returns from various hedge fund strategies given current
valuations
• What returns should investors expect over the next 12 month and 36 months?
• How much additional return do you expect from best of breed managers in each strategy?
• What niche strategies investors should be focusing on?
Panelists:
David Saunders, Founding Managing Director, K2 Advisors
Andrew McCaffery, Global Head of Alternatives, Aberdeen Asset Management
Clark Cheng, CFA, FRM, Managing Director, Head of US Manager Research, HSBC
Sourav Sengupta, Vice President, Portfolio Manager AIG
Moderator:
David Friedland, President, Magnum U.S. Investments, Inc.
Chairman, Hedge Fund Association
3:30-4:00pm
Fireside Chat with Anthony Scaramucci
Anthony Scaramucci, Co-Managing Partner and Founder, SkyBridge Capital
Mitch Ackles, President, Hedge Fund Association and CEO, Hedge Fund PR
4:00-4:30pm
Networking Break
4:30-5:30pm
Understanding the benefits and pitfalls of investing in emerging managers
• What are the advantages of investing in smaller managers?
• What do you need to do differently in evaluating an emerging manager?
• Opportunities in seeding acceleration and first loss funds
Panelists:
Scott Schweighauser, Partner, President and Portfolio Manager, Aurora Investment
Management
Ted Seides, CFA, President and Co-CIO, Protégé Partners, LLC
David Katz, President and COO, Larch Lane Advisors LLC
Craig Bergstrom, CIO, Corbin Capital Partners
Moderator:
Brian Lasher, Principal, Investment Research, Federal Street Partners
5:30-7:30pm
Cocktail Reception & Networking
AGEND A - TUESDAY, NOVEMBER 4
7:30 -9:00am
Continental Breakfast & Networking
9:00-10:00am
Managing a hedge fund portfolio in an uncertain macro environment
 Where to find and/or how to manufacture uncorrelated returns? CTAs? Global macro? Other?
 How should institutional portfolios address Tail Risk (and other types of) Hedging?
 How does one balance risk, return and liquidity today?
Panelists:
Darren Wolf, CFA, Managing Director and Head of Research, Arden Asset Management
Chris Solarz, Managing Director, Head of Global Macro Strategies, Cliffwater, LLC
Jon Blumenfeld, Portfolio Manager, Permal Asset Management
Andrew Fisch, Chief Investment Officer, SSARIS
Moderator:
Peter Fell, Senior Vice President & Director of Investment Due Diligence, Kenmar Olympia
10:00-11:00am
Opportunities in fixed-income oriented hedge fund strategies
Panelists:
Tom Williams, CFA, Chief Investment Officer, Pine Grove Asset Management
Ronan Cosgrave, Managing Director at Pacific Alternative Asset Management Company
Vincent Matsui, Global Head of Credit Strategies, EIM Management
Chris Acito, CEO, Gapstow Capital Partners
Moderator:
Kenneth Heinz, CFA President, Hedge Fund Research Inc.
11:00-11:30am
Networking Break
11:30-12:30pm
Adding value in long short equity
Panelists:
David Storrs, President and CEO, Alternative Investment Group
Scott Merkel, CFA, Director and Head of Equity Strategies, Lyxor Asset Management
Chris Umscheid, Director, Head of Hedge Fund Research Group, Deutsche Bank Securities Inc.
Ohm Srinivasan, Managing Director, Atlantic Trust Private Wealth Management
Moderator: Leslie Lake, CIO of Invus Financial Advisors, LLC
12:30-2:00pm
Lunch & Networking
2:00-3:00pm
How to source and screen top quality managers
Panelists:
Daniel Schatzman, Head of Research for the Wolfson Group
Mark Graham, President, Blue Alternative Asset Management
Thad S. Glowacki, Partner, Mangham Associates
Bei Saville, Director of Alternatives, Helmsley Trust
Moderator:
Lawrence Delevingne, Enterprise Reporter, CNBC
AGEND A - TUESDAY, NOVEMBER 4
3:00 -4:00pm
More on Emerging Managers
• Do they have a performance advantage over larger managers?
• What strategies do they have the greatest investment edge?
• What is more important between the size of the fund and newness of firm?
• What trends are you seeing relative to founders share class?
Panelists:
Paul Zummo, CIO, JP Morgan Alternative Asset Management
Timothy G. Berry, CFA, Partner and Head of Hedge Funds, Private Advisors, LLC
Susan Webb, CEO and CIO, Appomattox Advisory
Alifia Doriwala, Senior Partner and Managing Director, Rock Creek Group
Moderator:
Ronen Schwartzman, Founder, CIO, Ten Capital Advisors LLC
4:00-4:30pm
Networking Break
4:30-5:30pm
Investor viewpoints from endowments, foundations, pensions and family offices
Panelists:
Colin Ambrose, Chief Investment Officer, UJA-Federation of New York
Rob Blandford, CFA, President & Chief Investment Office, Spider Management/University of
Richmond
Jonathan Hook, Chief Investment Officer, The Harry and Jeanette Weinberg Foundation
Katherine Molnar, CFA, Senior Investment Officer, Fairfax County Retirement Systems
Moderator:
Michael Hennessy, Co-Founder and Director of Investments, Morgan Creek Capital
Management
5:30-6:30pm
Cocktail Reception & Networking
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