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Alternative Investments GAIM Fund of Funds Forum 2003 18-20 November, 2003 - Geneva, Switzerland The 2nd annual GAIM Fund of Funds Forum is the only event entirely focused on building scalable, sustainable and profitable hedge fund of funds businesses for fund of funds, their hedge funds and institutional distributors.

The following key concerns in fund of fund strategy will be addressed:

Fund of Fund Business Models Advanced Manager Selection Seeding Strategies
Evaluation Strategies Far East Fund of Funds Enterprise Value
Talent Development Innovation Early Stage FOFs
Risk Management New Products Open Architecture
The German Market Distribution Strategies NAV Best Practice
Managed Accounts European Regulation Standardised Reporting
Dynamic Asset Allocation Conflicts of Interest Structured Products
Institutional Grade Niche Fund of Funds Latest Portfolio Construction
Transparency Winning Strategies Best Practice FOF Strategies
Scalability Sustainability Profitability

Noël Amenc, Professor of Finance at Edhec, will be presenting an exclusive preview of the results of the Edhec European Alternative Multimanagement Practices Survey conducted with the support of Fimat, and Lionel Martellini, Research Director at the Edhec Risk and Asset Management Research Centre, will be presenting Edhec's response to the problems of heterogeneity and bias in hedge fund indices at the event.

Link to the presentation by Lionel Martellini - The Brave New World of Hedge Fund Indices


Tuesday, 18th November 2003
Day One (Optional): Winning Strategies for Seeding & Early Stage Fund of Funds

Weighing up the benefits of different seeding and early stage strategies: What are the pros and cons of each approach for both hedge funds and fund of funds and which is the optimum approach?

A unique opportunity to hear from, meet and have an in depth debate with the industry's leading seeders and early stage experts in a high interactivity format.

Wednesday, 19th November 2003
Day Two: Main Conference

Registration & Coffee

Chairman’s Opening Address
Alex Ehrlich, Managing Director, UBS Investment Bank

Gaim Fund of Funds 2003 View From The Top:
If Research Shows Most Fund of Funds' Performance Is Similar Over Time, Then What Will Be The Differentiation Factors In Successful Fund of Funds Of The Future ?
Rainer-Marc Frey, Member of the Executive Board, Head of Strategic Developments, MAN Investments

Special Guest Address:
The Gaim Fund of Funds 2003 Global Economy Outlook Talk
The Five Key Socio/Political And Economic Changes Of New Investment Regime Of The 2001-2015 Period: Strategies For Making Money
Dr H. "Woody" Brock, President & Founder, Strategic Economic Decisions Inc. Outstanding Economist

Morning Coffee

Assessing The Changing M&A Environment For Fund Of Funds: What Does The Future Hold And Assessing How Fund of Funds And Hedge Funds Businesses Can Maximise Their Value
Donald B Truesdale, MD, Global Head, Asset Management Investment Banking & COO, Financial Institutions Group, Investment Banking Division, Goldman Sachs & Co, New York
Andrew Dodd, Executive Director, Head of European Asset Management Investment Banking, Goldman Sachs International, London

Integrating Quantitative & Qualitative Approaches In Fund of Funds Investing: Identifying When To Stress Which Strategy And Why
Matthew Nurick, Co-CIO Funds of Hedge Funds, Pioneer Alternative Investments

Gaim Fund of Funds 2003 Leaders Strategy Panel 1:
Chaired By: Alex Ehrlich, Managing Director, UBS Investment Bank
To What Extent Is There A Real Threat Of Dis-intermediation By Niche Funds of Funds Or Single Hedge Funds In The Funds of Funds Business Model?: Is Fund of Funds Performance Moving Towards Institutionalised Mediocrity And Where Is The Added Value To Justify Institutional And HNW Investors’ Assets And Fees ?

  • Alistair Altham, Executive Director, Morgan Stanley Alternative Investments
  • Sean McGould, President & Chief Investment Officer, Lighthouse Partners
  • Roxanne Martino, CEO, Harris Associates
  • Joel Krueger, Director, Global Derivatives, Structured Finance, Prudential PLC
  • Jean Karoubi, President & CEO, The Longchamp Group, Inc.

Stream Sessions:
  • Stream A: Winning New Product Development Strategies
  • Stream B: Understanding the Institutional Distributor
  • Stream C: Best Practice Risk Management
Afternoon Tea Break

Stream Sessions continue

End of Day

GAIM Fund of Funds Cocktail Party

Thursday, 20th November 2003
Day Three: Main Conference

Coffee & Registration

Chairman’s Opening Address

Exclusive to Gaim Fund of Funds 2003: A Preview of the Results of the First Major Survey of the Techncial, Professional and Commercial Challenges Facing European Alternative Multimanagers: The Edhec European Alternative Multimanagement Practices Survey
  • Surveying the practices of more than 70 European alternative multimanagers
  • Examining the results: positioning in a global context
  • Key academic and technical issues facing industry leaders
  • What are the key professional issues of Europe's alternative asset managers?
  • Future challenges and opportunities
Prof. Noël Amenc, Professor of Finance, Edhec Business School

The Edhec European Alternative Multimanagement Practices Survey, conducted with the support of Fimat, to be published in November 2003, surveys the practices of more than 70 European alternative multimanagers. This is an exclusive preview of the fascinating results of where the industry sees itself. As well as his academic position, Noël Amenc is also Research and Development Manager with Misys Asset Management Systems S.A.

Radical New Fund of Funds Thinking 2003:
Why Traditional Asset Allocation Methodology Doesn't Work Anymore In Institutional And Private Portfolios: Examining The Role Of Risk Indices To Drive Asset Allocation And Fund of Fund Performance In The New Environment
Lisa K. Polsky, Co-Founder, L Squared, President, Lisa Polsky Partners New Thinking

Groundbreaking Innovation From One of The Year’s Highest Growth Fund of Funds:
How Do People Normally Trade And Why And When Do They Change Across All Hedge Fund Strategies?: Ground Breaking Behavioural Risk Management: How To Understand, Implement And Statistically Manage A Behavioural Risk Management Strategy Across Your Fund of Funds Portfolio
Jane Buchan, Managing Director, Pacific Alternative Asset Management (PAAMCO)

Morning Coffee

The Gaim Fund of Funds Leaders Strategy Panel 2:

A Critical Examination Of Different Approaches To How Dynamic Risk Factors In Fund of Funds Portfolios Can Be Effectively Understood & Managed – Without Sacrificing The Up-Side
  • The Institutional Investor
    Ross Dunlop, Chairman, Highway Insurance PLC
  • Niche Fund of Fund
    Dennis Rhee, Co-Founder & A Managing Partner, Treesdale
  • Hybrid FOF Managed Account
    Denis Beaudoin, CEO, Finaltis
  • Pure Managed Account
    Jean-Marie Barreau, Managing Director, Global Head of Xavex Alternative Investments, Deutsche Bank AG
  • Classic Fund of Fund
    Peter Rigg, Head of Alternative Investments, HSBC Republic

Stream Sessions:
  • Stream A: Newest Research: Portfolio Construction and Asset Allocation Master Sessions
    Chaired by Olivier Le Marois, CEO, RISKDATA
  • Stream B: Best Practice Manager Selection and Due Diligence
  • Stream C: The Stars - Off the Record Informal Roundtables
Afternoon Tea

  • Correlation Master Session

  • Fund of Fund Indices Master Session:
    The Heterogeneity and Biases of Alternative Indices: New Research into the Comparative Management and Construction of Different Indices: A Critical Requirement for Institutional Investors

    • The qualities of a valid benchmark in a long-only universe
    • The difficulties and specificities of benchmarks in the hedge funds universe (active versus passive indexes, lack of representativity, index biases)
    • Solutions for the improvement of HF index construction (cluster, passive replication, resampling, index of index, etc.)
    • Edhec methodology for index of index building

    Lionel Martellini, Professor of Finance, Edhec Business School

    Lionel Martellini is Professor of Finance at the Edhec Business School and at USC Los Angeles. Lionel is member of the editorial board of the Journal of Alternative Investment. Lionel is also Research Director at the Edhec Risk and Asset Management Research Centre where he is in charge of the "Benchmarking and Indexes" Research Programme.

    Link to the presentation by Lionel Martellini - The Brave New World of Hedge Fund Indices
End of GAIM Fund of Funds 2003

One for the Road: Goodbye Drinks

Event Details
  When   Between 18/11/2004 08:30 AM and 20/11/2004 05:00 PM
Where   Noga Hilton Hotel, Geneva, Switzerland
Contact Details
E-mail   icbi_registration@icbi.co.uk
Phone   +44 (0)20 7915 5103
  Presentation by Lionel Martellini - "The Brave New World of Hedge Fund Indices"