AAP LIFE SETTLEMENT ROUNDTABLE January 22 ROUNDTABLE AGENDA nd 2015, SIX Swiss Exchange, Selnaustrasse 30, Zurich/Switzerland 08.30 – 09.00 Registration & Coffee 09.00 – 09.05 Welcome by Beat Hess (AAP) 09.05 – 09.30 State of the life settlement markets, Beat Hess (AAP) AAP collects life settlement transaction data on a multi provider basis. The presentation gives an overview about the current markets with regards to traded volumes, average purchase prices, level of projected IRR in different market segments, actual medical underwriting, market trends and so forth. 09.30 – 10.00 Valuation of life settlements, Prof. Alexander Braun (University of St.Gallen) IFRS 13 and AIFMD require assets to be valued as close to actual market prices as possible. This holds also for life settlements. The study ‘Life Settlement Funds: Current Valuation Practices and Areas for Improvement’ from the University of St.Gallen compares the valuation of life settlement portfolios with actual market prices, and Prof. Braun presents the core findings. 10.00 – 10.25 AAP Investable Life Index, Beat Hess (AAP) Investments in mortality and longevity are largely non-correlated to the financial markets, and a respective investment therefore can improve the risk-reward characteristics of a portfolio. The AAP Investable Life Index mirrors the performance of open-end funds with an exposure to mortality and longevity. 10.25 – 10.50 Life settlements as fixed income investment, Gabriel Mäder (AAP) Investors are looking for yields in today’s low interest environment. Life settlements offer attractive projected IRR however linked to specific risks. AAP presents the framework for a securitization of life settlements which transforms the cash flow streams of a life settlement portfolio into a fixed income investment. 10.50 – 11.00 REGISTRATION DETAILS Q&A, final remarks The number of attendees is limited and a reservation therefore necessary via the homepage of AA-Partners Ltd. (http://www.aa-partners.ch/contact/; key word ‘AAP Life Settlement Roundtable’). After your registration you will receive a confirmation with separate mail. The event is complimentary. AA-Partners Ltd. Witikonerstrasse 36, 8032 Zürich www-aa-partners.ch 1