{literal} {/literal}

 

Editor's note
Dear Reader,

With new warnings about hurricane Ivan reaching us this morning, I remember last Friday we already discussed natural catastrophes like hurricanes or earthquakes in the editorial. Some readers contacted me writing there ARE ways to prepare for earthquakes. Remember, this may be vital: just recall the research that we covered saying there is a 90% probability of Tokyo being devastated by a major earthquake until 2050. Besides architectural precautions, one reader wrote, probably the most important preparation is knowing what to do when an earthquake surprises us. You may want to look into an article from Doug Copp that I read again and again to make sure the information enters my mind and memory. You could find that Doug will tell you many things that we have picked up somewhere as the survival behavior for earthquakes will in reality lead to instant death.

Doug Copp is Rescue Chief of the American Rescue Team International www.amerrescue.org and has formulated tips for surviving an earthquake - the result of experiences in 60 countries and two years' work as the United Nations expert in Disaster Mitigation. The information in this article will save lives in an earthquake. Click http://omega.twoday.net/stories/308957 to access the information that we hopefully never need. You may also want to forward this to other persons dear to you.

Do you happen to be in Hong Kong next Monday?
Bartt Kellermann, the inventor of the hedge fund receptions, will be hosting next Monday the Hong Kong Hedge Fund Capital Introductions and Reception. The event takes place on the 68th Floor of the prestigious and high tech International Finance Center #2, Hong Kong’s tallest building and the world’s 4th tallest building. The evening will include over 400 hedge fund industry guests who will enjoy topical speeches by well known alternative industry professionals followed by a cocktail reception and Post Party. This event has been planned in coordination with Hedge Funds World, Asia 2004. Details at www.globalcapitalacquisition.com/cgi-bin/mesh/register. Enjoy and a good weekend to you all.

News

Service

Investment Manager Analysis: A Comprehensive Guide to Portfolio Selection, Monitoring and Optimization

Frank J. Travers
ISBN: 0-471-47886-5
Hardback
384 pages
September 2004

Opalesque is delighted to introduce you to a brand new work of one of your fellow subscribers. Wiley is offering a rebate for Opalesque subscribers, details in the Recommended Reading archive. If you get this newsletter in the text version please paste the following link into your browser to access the links to Wiley: http://www.opalesque.com/main.php?act=recread.

To the Recommended Reading archive

S&P Reports August 2004 Hedge Fund Indices Returns

S&P Indices

Level 1

MTD

YTD

ITD2,3,4

S&P Hedge Fund Index

1,128.36

0.16%

-0.04%

12.84%

S&P Arbitrage Index

1,047.62

0.27%

1.45%

4.57%

S&P Directional/Tactical Index

1,131.40

-0.05%

-3.10%

12.31%

S&P Event-Driven Index

1,204.34

0.26%

1.53%

21.55%

S&P Managed Futures Index

994.065

-0.61%

-8.68%

-0.59%

S&P Equity Long/Short Index

958.879

-0.25%

-

-4.11%

S&P Equity Long/Short Index - US

962.069

-0.35%

-

-3.60%

S&P Equity Long/Short Index - Global Ex-US

955.688

-0.16%

-

-4.62%
1 = Price Index Value
2 = Inception (09/30/02) to Date for S&P HFI and three sub-indices.
3 = Inception (12/31/02) to Date for S&P Managed Futures Index.
4 = Inception (3/31/04) to Date for S&P Equity Long/Short Index and sub-indices. Source

Hennessee Hedge Fund Index +0.17% in August, 2004 YTD +1.16%
Hedge funds produced a positive return of +0.17% in August, bringing the 2004 year to date return to +1.16% for the Hennessee Hedge Fund Index. The broad market indices were mixed for the month, as the S&P 500 DRI Index climbed +0.40% (+0.43% YTD), the Dow Jones Industrial Average increased +0.34% (-2.68% YTD), and the NASDAQ Composite Index fell -2.61% (-8.22% YTD).

"Hedge fund managers we talked to stated a reluctance to make too large a play on market direction as entire sectors experienced wide swings on stock specific news," stated Charles Gradante, Managing Principal of Hennessee Group LLC. "It is one of the toughest markets to play with any conviction and this lack of conviction breeds weakness. Warnings from Homeland Security Secretary Tom Ridge of a "large scale" terrorist attack to disrupt the elections have further weakened conviction in the market." Source: press release. No online Source

20 of 31 comments on SEC registration rule commend the registration initiative
SEC Hedge Fund Comment Period Ends on September 15, 2004. On July 14, 2004 the Securities and Exchange Commission voted to publish for comment proposed new Rule 203(b)(3)-2 that would require hedge fund advisers to register with the Commission under the Investment Advisers Act of 1940. Despite the initial public outcry, CarbonBased Consulting, a research and advisory firm focused exclusively on the asset management industry, is surprised to note that, as of August 31, only forty five comments have been posted, not all issue specific.

Furthermore, a vast majority - 20 of 31 - of the issue specific comments commends the SEC's initiative. These respondents generally agree that the hedge fund industry is in need of some regulation and will increase transparency and provide enhanced investor protection. The relatively few who disagree with the SEC proposal expressed a belief that the "invisible hand" of the market serves as sufficient control. While some respondents also suggested amendments to the proposal, they were fairly narrowly focused. (The full PDF version of this report including a break down of the responses is available by clicking here: http://www.buysidetech.com/fullaccess/SEC%20Hedge%20Fund%20Proposal%20Part%202.pdf)

"In spite of the initial outcry, opponents of the proposal have failed to mobilize their resources and vocalize their opinions to the SEC," said Kenneth M. Neuhaus, Carbon's Executive Vice President and Chief Operating Officer. "While hedge fund managers may have reviewed, they have not commented. This gives the SEC ample ammunition to justify moving forward with virtually universal registration requirements," he said.

Carbon continues to believe (as we detailed in our earlier commentary released on July 21: A Call to Arms; Proposed Hedge Fund Regulations are Flawed - What You Can Do About It) that constructive suggestions can be made that will address SEC concerns without being overly onerous on the industry. The direct link to submit comments to the SEC is as follows: http://www.sec.gov/cgi-bin/ruling-comments?ruling=s73004&rule_path=/rules/proposed/s73004&file_num=S7-30-04&action=Show_Form Carbon Based says: It's not too late! Make your opinions known! Source: press release. No online Source

Mississippi foundation allocates to hedge FOF, will increase alternative allocation from 10% to 25%
PIOnline writes Mississippi State University Foundation, Starkville, hired hedge fund-of-funds firm Pointer Management and two other firms. Source

Hedge fund size isn`t everything, but it helps
Reuters reports high failure rates and the prohibitive costs of starting a hedge fund mean the industry is gravitating towards those who can offer a secure and reliable operating platform. Analysts estimate casualty rates in the industry are running at around 15-25 percent, most of which are among the 2-3 person operations launched with their own and family money.

"It's hard to get started, to attract significant first capital," Jane Buchan, managing director at U.S.-based Pacific Alternative Asset Management Company said. "Probably about 20 percent go out of existence every year." Analysts estimate hedge funds need to be managing assets of more than $100 million within 12 months if they are to take advantage of the economies of scale that allow them to build strong business foundations. Note: you may have to complete a free registration at Reuters to view the full article. Source

Ibbotson announces study on `Buy-Write` investment strategy, covered-call investing can enhance risk/return tradeoff of a portfolio
Ibbotson Associates, a leading provider of asset allocation knowledge and tools, today announced the results of its case study on the "covered-call" investment strategy represented by the CBOE S&P 500 BuyWrite Index (BXM). The study was three-fold: 1) assess risk-adjusted performance of the BXM; 2) evaluate the role of this covered-call strategy in a portfolio; and 3) establish if an investor can implement the strategy.

Ibbotson researchers found that the BXM has had the best risk-adjusted performance of the major domestic and international equity-based indexes over the last 16 years, and that the index enhances the risk-return tradeoff when added to a portfolio. Ibbotson researchers also found that the returns of the Rampart BXM (an investment vehicle that seeks to replicate the index) did closely match those of the CBOE BXM. This is significant because it demonstrates that an investor can implement this covered-call strategy.

The compound annual return of the BXM over its 16-year history was 12.4%--slightly higher than the 12.2% achieved by the S&P 500 and with a third less risk. And the risk-adjusted return for the BXM buy-write strategy was 38% higher than that of the S&P 500. Based on this historical data, when a 15% allocation of the BXM index was added to a moderate portfolio, volatility was reduced by almost a full percentage point with almost no sacrifice of return. Source

Future of energy trading will take a dramatic turn: Financial powerhouses pave way for over 200 hedge funds
From RiskCenter.com: Others are testing the waters. But Merrill Lynch is diving in head first to the energy trading business. With its expected buy of Entergy-Koch Trading for an estimated $1 billion, the future of energy trading will take a dramatic turn.

"This deal is a significant indicator of the next wave in energy trading causing the rapid 'financialization' of energy markets with the participation of financial players with the balance sheet to put more capital at risk," Peter Fusaro, chairman, Global Change Associates. Meanwhile, more than 200 hedge funds, which are privately organized and administered by investment professionals, are trading energy commodities, or financial instruments such as derivatives.

The void could potentially be a profitable one in the $400 billion a year electricity and natural gas industry. The banks are looking to make up for reduced trading revenues in their equity and bond businesses and the power sector does appear ready to accommodate a growing economy. Moreover, volatility in the oil and natural gas businesses provides for even better opportunities. Barclays, Citibank, Deutsche Bank, Goldman Sachs and Morgan Stanley are among those that are working to diversify their commodities positions and to sell electricity products to their institutional and industrial clients. Source

Harvard`s PR problem: How much will the managers of the $19.3 billion endowment make this year?
Boston.com writes the board of Harvard Management Corp., which oversees the billions at the world's richest university, met yesterday on the 13th floor of the Federal Reserve tower in Boston with a new chairman sitting at the head of the table for the first time in 15 years. Next week, annual returns for the $19.3 billion endowment are due, and they will be strong again. That, in turn, will start the annual compensation watch among Harvard Management's critics. The question, as always: How much will Harvard money managers make this year?

Year after year, Harvard Management has delivered among the best returns in the business and paid some of the highest compensation in the business to its managers. Year after year, the people who run Harvard have been willing to take whatever heat comes with those big paychecks. But the ground is shifting, both inside the university and out….Full article: Source

PowerShares offers first Alternative Energy Index ETF
Investing in a portfolio of companies involved in alternative energies such as wind, solar, and hydrogen fuel cells has been challenging, but it is now getting easier. The index, created by San Diego-based index provider WilderShares, will serve as the basis for an exchange traded fund (ETF) offered by PowerShares Capital Management. Source

Emerging markets bond funds in demand
PortfolioInternational.com writes emerging markets bond funds posted net inflows for the fourth week running as fears about the pace and scope of US interest rate hikes continue to moderate, according to Emerging Portfolio Fund Research (EPFR). The 249 funds tracked by EPFR have taken in US$235.6m over the past four weeks. When combined with five straight weeks of positive performance, their total assets under management have nudged up to $16.74bn. Source

Platinum launches fixed income arbitrage Platinum Premier Fund
Platinum Capital Management, the international financial investment group, has announced the launch of the Platinum Premier Fund - a new hedge fund that focuses on producing consistent absolute returns and very low volatility in all market conditions. Premier will invest Long/Short in UK, US, and EU government securities with a short-term interest rate arbitrage overlay to hedge and enhance returns.

Premier’s overlay strategy features a team of proprietary traders that seeks to exploit intra-day distortions in the yield-curve in UK, US and EU sovereign debt. This unusual strategy is similar in concept to the trading undertaken by fixed income market-makers in banks – in effect Premier’s proprietary traders get the benefits of a market-maker without the corresponding obligations. The strategy has proven very successful for the underlying manager. In the in the 4 1/3 yrs from Feb 2000 to end-May 2004, Premier’s underlying manager recorded no losing months and a consistent gains totalling more than 116%.

Of the underlying manager, Craig Reeves, Managing Director, Platinum Capital Management stated, ‘ We have had a professional relationship with Premiere’s underlying manager for over 8 years and we have been profitably investing our own and our clients’ money with the manager for nearly five years, achieving extremely superior returns.’ Platinum Premier is constructed to target returns of 10%-18% per annum net of fees. Source: company press release. No online Source

Asset management back-office deals set to reach 758 million dollars by 2006
IPE.com reports the market for outsourcing back office functions in the European asset management industry will reach 758 million dollars (622.5 million euros) by 2006, says Datamonitor. The market analyst firm said: “This market has emerged in Europe as a series of large-scale lift-out deals, with traditional custodians (for example State Street, Bank of New York, Mellon, JP Morgan, Citigroup, HSBC), demonstrating keen interest in taking over entire back-office operations of asset managers.” Source

Netage Solutions releases version 4.0 of InvestorDynamo, the company`s flagship product for hedge funds
Netage Solutions, Inc., a global provider of front-office software for the alternative assets industry, announces the availability of InvestorDynamo Standard 4.0 - a significant upgrade to the popular suite that improves hedge fund investor relations teams’ productivity through intuitive, Outlook-based communication and compliance tools. The new release builds on the strengths of its predecessor that is already in use at hedge fund industry leaders in the financial markets of New York City, Connecticut, Massachusetts, and California to automate complex mail merge and communication tasks and upload investor documents securely online.

“We anticipate that InvestorDynamoStandard 4.0 will prove to be an indispensable part of hedge fund investor relations and compliance operations and further affirm Netage’s position as a leading provider of front-office software for the industry,” said Mr. Krassen Draganov, CEO of Netage Solutions. Source: company press release. No online Source

Citigroup, electronic trading and the victims of the rapid-fire selling and buying last month still to feel full consequences
The FT writes the rapid selling and buying back of EUR 15bln European government bonds by Citigroup traders within 2 minutes still reverberates within the industry. The world's biggest bank has raised the hackles of European governments and exposed weaknesses at the heart of the eurozone capital markets. The barrage of criticism from its competitors and customers, and the possibility of action from the FSA, are particularly galling for Citigroup: it has promised to keep its hands clean and set exemplary standards of behaviour following huge fines for malpractice in the US.

Citigroup's gain, of course, was someone else's loss. Big trading banks - ABN Amro, Deutsche Bank, Barclays Capital, JP Morgan Chase, UBS - nursed losses estimated at €1m-€2m. "We were hit, but that happens every once in a while," said the head of trading at one bank. "Pretty much all's fair in the inter-dealer market and Citigroup spotted a way to make a quick buck. I guess we just have to say well done to them."

Not everyone saw it that way. Many smaller, local European banks are also signed up as MTS dealers: for these banks a loss of €1m-€2m is more difficult to shrug off. Banks were soon on the telephone to government treasury officials. They, in turn, called Citigroup. "We told Citigroup we didn't appreciate it and felt it was against the spirit of the primary dealer contract,"…Full article: Source

Korea Natl Assembly OKs bills to stimulate investment, allows PE funds
Dow Jones / Morningstar report the South Korean National Assembly Friday approved delayed government proposals to stimulate corporate spending and equity investment. The approved bills include the revision of asset management regulations to allow the establishment of private equity funds with the purpose of acquiring and merging companies. Source

News Briefs: Chief U.S. Bank Regulator Will Step Down, Bob Jenkins, CEO UK fund manager F&C signs off with GBP10 million windfall, ING hires UK head of sales trading, China promotes foreign banking business
Chief U.S. Bank Regulator Will Step Down
The nation's top national bank regulator, John D. Hawke Jr., announced yesterday that he will step down when his term expires next month. Hawke has been under fire from Congress for his agency's oversight of scandal-riddled Riggs Bank. (Washington Post)

CEO Bob Jenkins of UK fund manager F&C signs off with GBP10 m
Bob Jenkins, chief executive of F&C, the fund management group, will sign off from executive duties with a GBP10 million windfall. (Timesonline.co.uk)

ING hires UK head of sales trading
Simon Jeffries joins ING as UK head of sales trading and managing director, responsible for the expansion of sales trading relationships with UK-based institutions and hedge funds. (Reuters)

China Promotes Foreign Banking Business
A top Chinese banking regulator said this week that foreign banks have become an important part of China’s banking industry and plans to further open up the local market to facilitate their growth. (RiskCenter.com) No online Source

GAIM USA Fund of Funds: the largest gathering of hedge FOF and investors
September 20-22, 2004 * The Plaza Hotel * New York City

The Largest Gathering of Hedge Fund of Funds & their investors in the USA in 2004

This new GAIM event will enable debate on the critical strategic, operational and performance related challenges facing the industry in the heart of the fund of funds industry, NYC. With a speaker faculty widely hailed as a Who's Who of the Fund of Funds industry, discussions will draw on pioneering new research, expert opinion and advice from leading consultants, outperforming managers as well as the largest gathering of fund of funds in the USA in 2004.

For more information visit: www.iirusa.com/fundoffunds/index.cfm/link=1/t=m/newsection=yes/prioritycode=XUOPL or call +1-888-670-8200

9th High-Performance Investing Symposium Monte-Carlo – 10% discount for subscribers!
Ninth Annual Symposium on High-Performance Investing
Monte-Carlo, Monaco on September 19-21, 2004.

Information Management Network (IMN) presents this annual event which draws more than 300 attendees to Monaco each year. The venue is the historic Sporting d'Hiver with networking at the elegant Hotel de Paris and Hotel Hermitage hotels in the heart of the Principality.

Our Annual Symposium brings high-level alternative investment experts to beautiful Monte-Carlo for two days of education and excellent networking opportunities with a large investor base from Monaco and the surrounding Countryside. Over the past Eight Years, our Monaco Symposium has featured hundreds of outstanding Speakers and has included Keynote Addresses by: Jacques Attali, Ray Dalio, Mario Gabelli, Dr. Philippa Malmgren, Karl Otto von Pohl and Victor Niederhoffer.

For more information, please contact Lori Jacobs on +1-212-901-0503 or email LJacobs@imn.org. Updated Information is also available at http://secure.imn.org/~conference/im/index2.cfm?sys_code=40920_AI_hpi&header=on.
We are offering a 10% discount for Opalesque subscribers until August 15, 2004.

Italian Hedge Fund Investors' Summit - 10% discount for subscribers!
Italian Hedge Fund Investors' Summit
Hotel Principe di Savoia in Milan September 26-28, 2004

Information Management Network's (IMN's) Italian Hedge Fund Investors' Summit will be held at the Hotel Principe di Savoia in Milan, Italy on September 26-28, 2004. The second in a series of annual events, the Summit will be chaired by Stefano Meloni of HedgeInvest (Milan) and brings together leading Italian, European, and US investors, managers, and intermediaries who will meet, network, and gain valuable investment insights in an intimate setting.

Complementing the topical coverage of key industry developments, the Summit will feature keynote presentations, in-depth analyses, and closed-door private manager/investor roundtables covering the major hedge fund strategies.

For more information, please contact Lora Ballato at 1-212-901-0541 or email Lballato@imn.org. Updated Information is also available at http://secure.imn.org/~conference/im/index2.cfm?sys_code=40927_AI_0001&header=on.
We are offering a 10% discount for Opalesque subscribers until August 15, 2004.

IQPC’s 3rd pan-European forum on Hedge Funds for Nordic Pension Funds - 10% discount!
2 Day conference: 23-24 September 2004, Sheraton Stockholm Hotel & Towers, Stockholm

10% DISCOUNT for Alternative Market Briefing Readers (quote AMB)

Visit: http://www.iqpc.co.uk/GB-2272/AMB for more information - Significant discounts also apply for institutional investors

Finance IQ’s annual forum is widely recognised as the ONLY event dedicated to pension fund managers investing in hedge funds. This year's programme will expand upon core issues from last year, and will tackle the most pertinent challenges which have arisen over the past 12 months. Many Nordic hedge funds doubled their assets under management last year. Hear from the following pension funds & hedge fund experts:

Folksam, Postens Pensionsstiftelse, Finansinspektionen, Skandia Insurance Company, Forsakringsforeningen for det Statliga Omradet (FSO), AP2, Lansforsakringer AB, Hermes Pensions Management, London Business School, Harcourt Investment Consulting AB, Asterias, Swiss Capital Group, EIM, ADI Gestion, AP7, FGS Capital

To guarantee your place visit: http://www.iqpc.co.uk/GB-2272/AMB or email: sonia.pun@iqpc.co.uk or call: +44 207 368 9300 quoting AMB to receive your 10% discount.

European Alternative and Institutional Investing Summit - 25% discount!
European Alternative and Institutional Investing Summit by Opal Financial Group
Sept. 29 - Oct. 1, 2004 Palais Del La Mediterranee Hotel, Nice, France

As we move ahead, the ever-quickening pace of globalization will force investors and managers to continuously look beyond their own borders for innovative solutions to increasingly complex investment decisions. Panel discussions will address a wide range of issues, including European securitization strategies, roles of offshore funds in plan design, global indexing techniques, implementation of manager selection processes, differences in European corporate reporting and Board management and the particular roles of government in European pension plans, and visions of the growing alternative marketplace. We look forward to seeing representatives from some of the largest European funds and other industry leaders at these inaugural events.

Visit: http://www.opalgroup.net/sw
Quote "Opalesque" in field Source Code when registering to get your 25% discount!

HEDGE2004 - THE UK's PREMIER HEDGE FUND EVENT
11-12 October, Inter-Continental Hotel, London

HEDGE2004 is a two-day Hedge Fund conference, providing learning and networking opportunities for Hedge Fund investors and all those connected with the Hedge Fund industry. Following the success of last year's event, we are planning a number of enhancements to expand and enrich the program. The afternoon sessions feature a choice of three streams. 400 Senior investors and global decision - makers, 50 First class industry speakers and academics, 3 Streams (two designed for investors), 2 Showcases - Hedge funds and FOHFs, 1 Gala Dinner and Drinks Reception and 1 Fantastic Park Lane venue.

Our hedge fund conferences attract an unusually high ratio of investors and we intend to build on this aspect and develop it further. Therefore, two of the three streams are aimed at investors, with a third stream focusing on Hedge Fund business development and practice.

HEDGE2004 provides a first-class opportunity to network with potential customers. In order to facilitate better networking we have introduced a Cocktail Reception and Gala Dinner, combined with generous refreshment breaks, to ensure that delegates achieve their full networking potential. We are offering a 10% discount for Opalesque subscribers quote Opalesque when you make your booking. Click on link for more information www.irc-conferences.com

NEW! : 2nd Annual Global Absolute Return Congress (‘Global ARC’) Boston
Global ARC: Where the GLOBAL Pension/Endowment and Hedge Fund Communities Meet
 The Grand Ballroom, Boston Sheraton, Massachusetts • 18th-20th October 2004

Featuring 25 of the World’s leading pension funds and endowments as speakers, Global ARC offers a unique investor-driven perspective on the hedge fund industry.

Pension/Endowment speakers include:

  • from North America: ABP Investments • Alberta Revenue • CDP Capital • City of Philadelphia Public Employees • Emory University Endowment • George Washington University Endowment • MIT Endowment & Retirement Plan • New Hampshire Retirement System • Texas Teachers Retirement System • The Atlantic Philanthropies • University of California Endowment • University of Texas Endowment • Verizon Investment Management • Virginia Retirement System • World Bank Pension Plan
  • from Europe: AP7 Pension Fund • Danish Lawyers & Economist Pension Plan • KLM Airlines Pension Plan • Pension Fennia • Skandia Liv
  • from Asia and Australasia: Commonwealth/Public Superannuation Scheme • Mitsubishi Corporation Pension Fund • New Zealand Superannuation Fund • Retail Employees Superannuation Trust • Victorian Funds Management Corporation
Plus expert analysis from: • AIMA • Equalt • FRM • Northwater • RiskMetrics • State Street

For registration go to www.global-arc.net or contact David Stewart at david@global-arc.net

5th Annual Euromoney Summit, London: The Future of Hedge Funds
Positioning for profitability
20th-21st October 2004, The Carlton Tower, London

Since hedge funds are no longer an investment exclusively reserved for the very rich and mutual funds are offering lower returns, more and more institutional and private investors are looking at alternative investment products.

In response to this rising demand, half of European asset management firms are expected to launch hedge funds over the coming 12 months.

What position will your company adopt to handle this growth? Do you consider the retail market as a major opportunity or a potential hazard? Is the hedge funds bubble on the verge of bursting? And if so, how will your company react to the inevitable industry shake out?

The hedge funds industry has never been so topical and we would like to hear your views on the subject. Join us to debate the hottest topics in the industry at the 5th Annual Summit: The Future of Hedge Funds

More information:
Website: www.euromoneyseminars.com/ohf
Tel: +44 20 7779 8999 or USA Toll Free 1-800 437 997
email: registrations@euromoneyseminars.com

Hedge Funds World Zurich 2004 - 10% discount for Opalesque subscribers!
8 -10 November 2004, Park Hyatt Hotel, Zurich, Switzerland

The dedicated Swiss focused hedge fund event returns for its 7th year:
Network and do business in Switzerland – the home of private banking and Europe’s leading hedge funds investment market

The programme addresses best practice, market developments, transparency, risk issues and importantly the critical success factors that are required in achieving high level investment growth of hedge fund products as required by sophisticated Swiss investors. Hear from over 30 hedge fund experts from Switzerland including:

  • Reto Kuhn, CEO, PFS Pension Fund Services
  • Peter Fletcher, General Manager, Parly Company
  • Hans-Jörg Baumann, CEO & Chairman, Swiss Capital
  • Dr Manfried Janson, Director, Lungerhausen & Janson Family Office
  • Patrick Fenal, CEO, Unigestion
  • Dr Werner Rutsch, Senior Vice President, Bank Hofmann
Further information:
Event website: www.hedgefundsworld.com/2004/hfw_CH
Telephone: +44 (0) 20 7827 5980
E-mail: naheed.sharmin@terrapinn.com

GAIM Invest & Fund of Funds 2004 Geneva
GAIM INVEST & FUND OF FUNDS 2004
The Original Global Asset Allocator's Forum For The World's Most Influential Institutional Investors

16-18 November 2004 President Wilson Hotel, Geneva

The Largest Gathering of Hedge FOF and investors in the world in 2004! 110+ Speakers - 450 Attendees in 2003

What's New For GAIM INVEST 2004?

  1. Unique Focus On Asset Allocator Challenges And Solutions: Hear From Over 110 Of The Most Influential Investors & Advisors
  2. New Insights & Inclusive Workshops From Top Academics In Asset Allocator Issues
  3. More Big Pension Funds & Endowments ... The Groundbreaking US & European Institutions Speak Out
  4. More Big Bank Distributors Of Fund of Funds
  5. More Best Practice From Institutional Grade Fund of Fund Practitioners
  6. More Multi-Manager Success Stories - Strategies For Solving Institutional Capacity Issues
  7. Plus More Best Of Breed Seeded, Emerging & New Funds In Our Early Stage Showcase
Further information:
Event website: http://www.icbi-uk.com/r.asp?uID=159

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