the risk conference for the hedge fund community and hedge funds review are pleased to introduce...

• Regulation

• Risk ManageMent

• MaRket Risk

• opeRational Risk

• liquidity

• poRtfolio ManageMent

• investMent stRategies

• valuation

Risk and Hedge Funds Review are pleased to introduce RiskHedge London - the premier risk management event for the hedge fund industry.

Weak market conditions, a toxic combination of geopolitical challenges, a mountain of new regulations and the shrinking ambitions of many market participants have battered the financial industry. A new world order where nimble, forwarding thinking hedge funds can provide finance to other parts of the market is emerging. But where alpha is created, so new risks emerge.

Bringing together some of Europe’s leading thinkers and practitioners in risk management and regulation, the extended agenda for this year’s event will include multiple streams and additional special sessions showcasing new research.

the Risk confeRence foR the hedge fund

coMMunity

#Riskhedgeldn

Hosted by:

REVIEWTHE VOICE OF THE GLOBAL ALTERNATIVE INVESTMENT INDUSTRY

Supporting partner:Exhibitor:

the Risk confeRence foR the hedge

fund coMMunity#Riskhedgeldn

editoR’s letteRDear Delegate,

I am delighted to announce the RiskHedge London conference will take place on 24th September 2015 in London.

One trend being observed in a world in which traditional banks are beating a hasty retreat from capital intensive business lines, is that hedge funds stand ready to capitalise on opportunities in market finance, as banks are driven away by shrinking profit margins and a mountain of new regulation.

But hedge funds are also facing their pressures. Regulators have their eyes on so-called ‘shadow banks’, and understanding their concerns will be crucial to survival in the new world of market finance. Regulation, coupled with geopolitical, counterparty and cyber risks, are giving risk managers at hedge funds more to think about than ever.

RiskHedge London will provide expert insight and practical guidance on these key issues facing the sector.

Featuring some of the leading thinkers and practitioners in the sphere of risk management and regulation, the event will provide a forum for sharing best practice and cutting-edge solutions to industry challenges.

The conference will focus on key issues such as:

• Understanding the role of hedge funds as lenders and financiers in the new world order

• How to develop a risk matrix for new investment strategies

• Markets, risk versus return and regulation - how should hedge funds respond to major changes and evolving investor demands?

• In-depth analysis and debate on topics including:

- Identifying crowded trades - Managing liquidity risk - Stress testing and risk measures - Resolving valuation challenges - Overcoming financing and leverage risk - Enhancing cyber resilience in your firm

With a blend of lively debate and incisive commentary, delivered through panel discussions, practical case studies and in-depth presentations, RiskHedge London is not to be missed.

I look forward to welcoming you in September.

Yours sincerely, luke clancy Editor, Hedge Funds Review

Reasons to attend:• Listen to the best practices from leading Chief Risk

Officers in hedge funds on trends and risks that keep them awake at night

• Gain the opportunity to ask the questions you want answered

• Discuss the role of hedge funds as financiers in the new world order

• Improve your approach to liquidity risk and understand how to measure and hedge liquidity risk in complex portfolios

• Face the challenges of properly managing leverage risk and educate yourself about solutions to overcome this existential risk for the business

• Learn statistical techniques for detecting crowded trades and associated risk management strategies

• Enhance your knowledge and understand how to navigate your business within the world of increased financial regulation impacting hedge funds

• Share ideas, meet and network with industry representatives from across Europe

Who should attend? At RiskHedge London you will get the opportunity to meet senior risk professionals working within hedge funds from across Europe. Just some of the delegates you can expect to meet at the conference include:

The conference will also be of interest to investors, law firms, consultancy firms and vendors



keynote: loïc feRy Chief Executive Officer CHENAVARI INVESTMENT MANAGERS

laRRy abele Chief Executive Officer AURIEL CAPITAL

olivieR Zeyssolff Chief Credit Officer TUDOR CAPITAL EUROPE

JiRi kRol Deputy CEO Head of Government and Regulatory Affairs THE ALTERNATIVE INVESTMENT MANAGEMENT ASSOCIATION

olivieR kintgen Chief Investment Officer ERAAM

Judith posnikoff Managing Director and Founding Partner, PAAMCO

speakeRs include:spenceR Rhodes Alternative Investments Global Business Manager ALLIANZ GLOBAL INVESTORS

nicolas Rousselet Managing Director Head of Hedge Funds UNIGESTION

vasilios siokis Partner & Chief Risk Officer CHEYNE CAPITAL MANAGEMENT

patRick tReW Chief Risk Officer and Partner CQS

eRic veZie Deputy Chief Risk Officer BREVAN HOWARD

daRRel yaWitch Chief Risk Officer AHL

pRogRaMMe:08:00 sponsoRed bReakfast bRiefing

(by invitation only) Topic to be confirmed

08.00 RegistRation and RefReshMents

08:50 chaiRMan’s opening ReMaRks

09:00 keynote: neW euRopean stRuctuRed finance oppoRtunity in deleveRaging enviRonMentloïc fery, Chief Executive Officer, CHENAVARI INVESTMENT MANAGERS

09:40 cRo panel: tRends and Risks that keep you aWake at night • Geopolitical, counterparty and regulatory risk• Understanding the shape of risk and reward- increasing the effectiveness and transparency of risk management in changing markets

• Planning for Illiquidity in the market. How to structure a defence against sudden market upheaval. The roles and types of leverage.

• Cost of capital, establishing the proper funding profile; meeting regulatory requirements without busting your budget

• Fruitful collaboration, or unmitigated disaster: understanding the interplay between risk and portfolio manager. How to integrate risk and business processes within your fund.

• Reporting and compliance requirements. How do you evolve a culture of compliance? How do you demonstrate that culture to regulators and investors?

• Where are structural market risks at the moment and where are asset bubbles building?

vasilios siokis, Partner & Chief Risk Officer, CHEYNE CAPITAL MANAGEMENT eric vezie, Deputy Chief Risk Officer, BREVAN HOWARD darrel yawitch, Chief Risk Officer, AHL david lee, Chief Risk Officer, Alternative Investments, CREDIT SUISSE ASSET MANAGEMENTpat trew, Chief Risk Officer, CQS

10:20 MoRning coffee and netWoRking bReak

10:50 panel: MaRket, Risk, RetuRn and Regulation - hoW should hedge funds be Responding to MaJoR RegulatoRy changes and Risk-aveRse investoR deMands?•How is regulation changing the world of risk managers?• How to deal with the operational risk aspects of implementing regulatory requirements

• AIFMD and its global impact. Are regulations hurting the investors as well as the funds?

• How to use regulatory changes to improve your investment processes

• “Buy versus build” to satisfy regulatory requirements• Electronic trading vs dealers – what does it mean from risk

perspective?• Central counterparties – a force for good or another systemic risk?

Jiri krol, Deputy CEO, Head of Government and Regulatory Affairs, THE ALTERNATIVE INVESTMENT MANAGEMENT ASSOCIATION patrik säfvenblad, Investment Partner, HARMONIC CAPITAL PARTNERSchristopher gibson, Chief Risk Officer, RBR CAPITALlouis d. thorne, Chief Operating Officer, Managing Director, FORTRESS - LIQUID MARKETS olivier Zeyssolff, Chief Credit Officer, TUDOR CAPITAL EUROPE

11.30 tRading places - the Role of exchanges in pRoviding hedge funds a coMpetitive advantageExploring the new products that allow hedge funds to replicate the OTC spaceSpeaker to be confirmed, please visit the event website for further updates

12:00 hedge fund lions den live! Three emerging managers each have five minutes to present their start-up fund to our panel of hedge fund investor lions and receive live feedback on stage from the lions and the audiencetHE lionS natasha Reeve-gray, Founder/Principal, ALTIS PARTNERS JERSEYFurther speaker to be confirmed, please visit the event website for further updates

12:40 lunch

13:4013:45

CHAIRMAN’S OPENING REMARKS FOllOwEd by valuation challenges facing alteRnative investMent ManageRs• How best to use pricing services and when to use outside

pricing experts• Is matrix pricing appropriate for your asset class?• What if 2008 happens again?• Ensuring your fiduciary duty to investors and satisfying

your auditors• Navigating the minefield of Level III asset valuationsSpeaker to be confirmed, please visit the event website for further updates

CHAIRMAN’S OPENING REMARKS FOllOwEd by best pRactices foR Managing counteRpaRty and soveReign Risk • Primary and secondary sources of counterparty risk faced by

a Hedge Fund• Sources of sovereign risk • What are the best early warning indicators for a default• Steps a Hedge Fund can take to reduce or eliminate risks • Blue Sky technology solutions to manage and report

counterparty risksben tibbalds, Head of Financial Risk, MAN GROUP

14:20 tail Risk, Risk pReMia and excess RetuRns • What is a risk premium and what is not?• Can we compare different risk premia in a meaningful way?• What is tail risk, and can an investor get paid for taking it?• If yes, how muchZoltan eisler, Portfolio Manager - Directional Strategies, CAPITAL FUND MANAGEMENT

panel: financing and leveRage Risk• Examining bank funding in the current environment• Managing risk and capital: banks’ views on allocating capital and

external financing • Dealing with the new prime brokerage paradigm• How have hedge funds’ expectations of prime brokers evolved?• Getting financing; what primes are looking for from hedge funds• Alternatives ways to get fundinggianluca squassi, CEO and CRO, LINDENGROVE CAPITALkristina Åkerberg, Group Risk Manager, EAST CAPITAL Romain peltier, Head of Performance Analysis & Risk Control, PICTET ASSET MANAGEMENT

14:55 afteRnoon bReak

KEY: stReaM 1 stReaM 2



pRogRaMMe:15:25 investoR/ hedge fund panel:

Relationship counselling • Trust: how to build trust between an investor and a manager• Communication: how to communicate risk to an investor• Understanding: what are investors’ and hedge funds’ risk priorities

and how do they both assess risk?• What do investors look for when assessing whether a hedge

fund’s senior management has a commitment to best practice risk management

larry abele, Chief Executive Officer, AURIEL CAPITALnicolas Rousselet, Managing Director, Head of Hedge Funds, UNIGESTION giles White, Chief Investment Officer, RAMPART CAPITAL nicolas gaussel, Chief Investment Officer, LYXOR ASSET MANAGEMENT

360 debatesThe final section of the conference will play host to two interactive debates. Each debate features guest speakers who will state their views on the topic before the discussion is handed over to the audience. Each table will be asked to discuss their views on the subject before the moderator asks for audience feedback at the end of the session.

16:10 debate #1 MaRket finance: capitaliZing on oppoRtunities in the neW WoRld of MaRket finance • Should hedge funds be aggressively pursuing these new

business opportunities?• Are innovations in market and trade finance the key to

enshrining hedge funds importance and acceptance in the global financial system?

• How can risk professionals get to grips with the plethora of potential holdings now in a hedge fund portfolio?

Matthew halperin, Senior Vice President, Independent Global Risk Officer, MFS INVESTMENT MANAGEMENTerik vynckier, Chief Investment Officer, ALLIANCEBERNSTEIN olivier kintgen, Chief Investment Officer, ERAAM louis gargour, Chief Investment Officer, LNG Capital

16:45 debate #2 liquid alteRnatives best pRactices - hoW to tRansition and pRopeRly evaluate the alteRnative investMent oppoRtunities • Are UCITs funds able to fulfil the expectations of investors? What

makes for a successful product?• How can distribution best be achieved and when should hedge

funds consider broadening out their investor bases by reaching out to retail investors?

• Will risk professionals be able to sleep at night if draw-downs occur in liquid products?

spencer Rhodes, Alternative Investments Global Business Manager, ALLIANZ GLOBAL INVESTORS Judith posnikoff, Managing Director and Founding Partner, PAAMCOanna hull, Director of Risk, ASPECT CAPITAL

17:20 chaiRMan’s closing ReMaRks

17:30 chaMpagne Roundtables1. Macro risks led by

William de vijlder, Group Chief Economist, BNP PARIBAS

2. best practices for liquidity risk led by Matthew halperin, Senior Vice President, Independent Global Risk Officer, MFS INVESTMENT MANAGEMENT

3. volatility and risk led by angel serrat, Partner & Chief Strategist, CAPULA INVESTMENT MANAGEMENT

4. portfolio construction and diversification challenges led by patrik säfvenblad, Investment Partner, HARMONIC CAPITAL PARTNERS

5. stress testing and risk measures: vaR, scenario analysis and new techniques led by Speaker to be confirmed, please visit the event website for further updates

6. cybersecurity: enhancing cyber resilience led by Speaker to be confirmed, please visit the event website for further updates

18:00 cocktail Reception



sponsoRs:

axioMaAxioma is the leading provider of innovative risk-management and portfolio-construction solutions to financial institutions worldwide. With an emphasis on innovation, outstanding service and open-platform technology, Axioma gives its clients more choice, greater flexibility and increased performance. Founded in 1998, Axioma is headquartered in New York, with offices in Atlanta, Geneva, Hong Kong, London, San Francisco and Singapore. axioma.com

aiMaAs the global hedge fund association, the Alternative Investment Management Association (AIMA) has over 1,500 corporate members (with over 7,000 individual contacts) worldwide, based in over 50 countries. Members include hedge fund managers, fund of hedge funds managers, prime brokers, legal and accounting firms, investors, fund administrators and independent fund directors. AIMA’s manager members manage a combined $1.5 trillion in assets (as of March 2014). aima.org

exhibitoR:

suppoRting paRtneR:



With an audience of over 100 hedge fund risk professionals, RiskHedge London is the perfect place to meet senior executives and share with them details of your product or service.

We have a limited number of places available for vendors and service providers to participate in the conference – if you would like your firm to be represented at the event please contact Ben Cronin on:

inteRested in sponsoRing Riskhedge london?

[email protected]

+44 (0)20 7316 9751

Leading success through innovation

8th September 2015Marriott Grosvenor Square, London

Conference highlights 2015:

• Gain industry insight through a detailed and researched agenda that has been put together with the help of our esteemed Advisory Board members

• 2 stream format - concurrent sessions allow us to cover more niche topics in depth and provide more choice for attendees

• Hear from an unparalleled line-up of industry heavyweight

Hosted by:Accredited by: Sponsored by:

FOR INFORMATION ON SPONSORSHIP OPPORTUNITIES,

CONTACT: scott.harris@

incisivemedia.com

booking details

pRicing list:

[email protected]

020 7316 9152

Riskhedge.net/london

venue details: hoW to book:

the WaldoRf hilton aldWych london Wc2b 4dd united kingdoM

020 7836 2400

(30 June -14 August)

(30 March – 29 June)

(15 August onwards)

book noW book noW

book noW book noW

book noW book noW

all otheR attendeeshedge funds, assetManageRs & investoRs



£499 £1199

£649 £1399

£799 £1499

the risk conference for the hedge fund community and hedge funds review are pleased to introduce...

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