D TE M DA rA UP Og IDE Pr InS

nOVEMBEr 1 & 2, 2012 | 10 On THE PArk | nEW YOrk

Absolute Return
SYMPOSIUM 2012

New York’s premier hedge fund event
The Absolute return Symposium will consider the outlook for the hedge fund industry and financial markets, and examine specific opportunities, challenges and risks across a range of alternative strategies.

KEYNOTE SPEAKERS INCLUDE: DINAKAR SINGH, TPG-Axon Capital
Participants will share their opinions about the wider economic outlook and their favorite individual trades. Macro managers will address ongoing fears of a further contagion from the sovereign debt problems in the Eurozone. leading credit managers are set to discuss what some have called a perfect opportunity to invest in beatendown mortgage assets. Top institutional investors and family offices will opine about the most and least desirable hedge fund strategies. The most promising trades, both long and short, will be presented by a variety of managers during a rapidfire series of Best Ideas presentations.

KEY TOPICS

See inside for program >

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BOOK ONLINE at www.absolutereturnsymposium.com or call +1 212 224 3570

Why attend

Highlights of the Absolute Return Symposium
The Absolute Return Symposium will address the numerous issues facing the hedge fund industry as economic uncertainty continues.
Held in Manhattan every fall since 2004, the Absolute Return Symposium attracts more than 350 of the hedge fund industry’s elite managers and investors, providing a forum for sophisticated debate among the most successful in the field. The event provides an outlook for the hedge fund industry and financial markets, while focusing on the opportunities, challenges and risks across a range of investment strategies. Past speakers include such notable investors as Bill Ackman, Cliff Asness, Kyle Bass, Peter Briger, Frank Brosens, Leon Cooperman, Jamie Dinan, David Einhorn, Izzy Englander, Michael Hintze, Marc Lasry, Dan Loeb, Eric Mindich, John Paulson, David Shaw and many others. At this year’s event, participants will share their opinions about the wider economic outlook, including ongoing fears of a further contagion from the sovereign debt problems in the Eurozone, the debate over whether we will see years of slow economic growth and deflation, or whether global governments’ vast economic stimulus programs will create destabilizing inflation, and the effects that continued growth in emerging markets will have on financial markets worldwide. There will be plenty of networking opportunities during the two-day conference, including a drinks reception at the end of the first day on Thursday, November 1. I look forward to seeing you at the Symposium. Josh Friedlander Editor, Absolute Return

Keynote speakers confirmed so far include:
Dinakar Singh
TPG-Axon Capital
Dinakar Singh is the founding partner of TPG-Axon Capital, a leading global investment firm. Through offices in New York, London, Hong Kong and Tokyo, TPG-Axon invests across global markets and asset classes. The firm was founded by Dinakar in late 2004, in partnership with Texas Pacific Group. He serves on the Yale University Investment Committee, Trilateral Commission, and the boards of the New York Public Library, Columbia University Medical Center, The Rockefeller University and Cold Spring Harbor Laboratories. Dinakar will be speaking on Day one at 9.45.

Register before September 14 and receive 20% off the standard rates BOOK ONLINE at www.absolutereturnsymposium.com or call +1 212 224 3570
Absolute Return Symposium 2012 | November 1 & 2, 2012 | 10 on the Park | New York

Interested in sponsoring or exhibiting?
Contact: Sumehr Sondhi Tel: +1 212 224 3275 | Email: ssondhi@absolutereturn.net

Discounts

Buy one ticket, get one free
If your firm lists performance data in the HedgeFund Intelligence database, register yourself and bring a colleague for free!

Don’t miss
Exclusive cocktail reception
Thursday, November 1 from 17.40
All registered delegates are invited to the Absolute Return Symposium cocktail reception, which will take place after the first day of the conference.

20% Early bird discount
Register before September 14 and receive 20% off the standard rates. That’s a savings of $400 for asset managers, $300 for asset allocators and $770 for all others.

50% Start-up firm discount
If your asset management firm has started within the past two years, receive 50% off the standard rates.

End investors
Register for free! Email events@hedgefundintelligence.com

Pre-Event Networking
Once you have registered, you will be sent a link to the Absolute Return Symposium private networking group on LinkedIn. You will receive regular event updates, be able to see who else is attending and arrange meetings before the event.

Venue

10 on the Park, New York
Time Warner Center North Tower, 10th Floor 60 Columbus Circle New York, NY 10019 Right in the heart of Midtown Manhattan, 10 on the Park is located on the 10th floor of the Time Warner Center, overlooking New York’s skyline and Central Park. It is conveniently located above The Shops at Columbus Circle and steps away from the subway. Extensive parking is located within two blocks of the venue. www.10onthepark.com

www.absolutereturnsymposium.com

Program
Day one: Thursday, November 1
8.00 Doors open, registration and breakfast 8.45 Welcoming remarks and introductory briefing: Josh Friedlander, editor, Absolute Return 9.00 Macro
Ongoing economic uncertainty continues to create massive risks and potentially large rewards. Our speakers will explore global pitfalls and opportunities related to governmental intervention in markets; sovereign debt and currencies; trends in commodities, corporate debt and equities; and the best risk/reward trades and markets. Speakers: Jason Bonanca, partner, head of strategy and research, MKP Capital Management; Adam Fisher, co-founder, chief investment officer, Commonwealth Opportunity Capital; Richard Howard, managing director, global strategist, Hayman Capital Management; Paul Podolsky, senior portfolio strategist, Bridgewater Associates. Moderator: Josh Friedlander, editor, Absolute Return.

9.45 Keynote speaker: Dinakar Singh, founding partner, TPG-Axon Capital Management
Introduced by Paul Germain, Credit Suisse

10.20 Coffee break 10.50 Family offices
How is the continuing divergence of the hedge fund industry into giant firms and everyone else affecting family office investing? Which strategies are considered the most promising for the coming year, what strategy weightings are considered optimal, and which strategies are being avoided? How are family offices using new disclosures and transparency in making decisions? Speakers: Terri Chernick, chief investment officer, The Koffler Group; Howard Cooper, chief executive officer, Cooper Family Office; Kerrie Juras, president, Knickerbocker Group; Dan Schatzman, director, Wolfson Family Office. Moderator: Lawrence Delevingne, staff writer, Absolute Return.

11.35 Credit

A group of industry experts will discuss profiting from the risks in sovereign debt, the resurgence of mortgage securities, and global deleveraging. Speakers include: Steve Kuhn, partner and head of fixed income trading, Pine River Capital Management; Steven Tananbaum, managing partner and chief investment officer, GoldenTree Asset Management; David Warren, chief executive officer, DW Investment Management and manager, Brevan Howard Credit Catalysts Master Fund; Josh Weintraub, senior managing director, head of U.S. mortgage securities and trading, Cerberus Capital Management. Moderator: Christopher Garnett, director, HedgeFund Intelligence Conferences.

12.20 Lunch and networking 13.35 Keynote speaker: To be announced 14.05 Regulatory change in Europe: What’s the impact on global managers?
While hedge funds in the U.S. have been grappling with implementation of domestic rule changes following DoddFrank, there have also been a slew of regulatory change in the works in Europe, including the Alternative Investment Fund Managers (AIFM) Directive and UCITS IV. As Europe still remains a hugely important market for distribution to investors for many global alternative investment managers, a panel from a group of leading firms will discuss what they need to do to keep up with the new rules. Speakers: Bruce Karpati, chief of the asset management unit, enforcement division, U.S. Securities and Exchange Commission **; Michael Neus, chair of the Investment Adviser Committee, Managed Funds Association (MFA) and general counsel, Perry Capital; Greg Robbins, chief operating officer, general counsel and senior managing director, advanced strategies, Mesirow Financial; Paul Roth, founding partner and chair of the investment management group, Schulte Roth & Zabel. Moderator: Marina Lewin, head of global business development, BNY Mellon Alternative Investment Services.

Program

14.05 Workshop: Topic to be announced 14.50 Coffee break
**invited subject to final confirmation

Absolute Return Symposium 2012 | November 1 & 2, 2012 | 10 on the Park | New York

15.10

You don’t know what your hedge funds are doing

The panel will discuss how to demand the right levels of transparency, avoid style drift and track expenses — and stop exorbitant expenses from being charged to the fund. Learn how to determine which managers are talented and which have simply been lucky. Speakers include: Kenneth Phillips, founder and chief executive officer, HedgeMark. Moderator: Josh Friedlander, editor, Absolute Return.

15.10 16.00

Workshop: Topic to be announced Managing a hedge fund: View from the top
What are the challenges of running a business, maintaining strong performance and preserving capital in today’s uncertain markets? The COOs of several high-profile hedge fund firms will discuss the challenges and opportunities ahead. Speakers: Putnam Coes, chief operating officer, Paulson & Co; Gregory Heyman, chief operating officer, Kensai Asset Management; Jeffrey Kaplan, chief operating officer, Appaloosa Management; Andrew Rabinowitz, partner and chief operating officer, Marathon Asset Management.

16.00 16.50

Workshop: Topic to be announced Commodities: Where are we now in the ‘super-cycle’?
What is the outlook for energy, metals, softs and agriculturals in an era of conflicting concerns about inflation and deflation amid stalling markets and global deleveraging? What will be the impact of China going forward? And of renewed stimulus on the commodity markets? A panel of leading experts and players will debate these and other topics. Speakers include: George ‘Beau’ Taylor, founder and chief investment officer, Taylor Woods Capital Management.

17.4019.301

Cocktail reception

Day two: Friday, November 2
8.30 Registration and breakfast 8.55 Opening remarks: Josh Friedlander, editor, Absolute Return 9.00 Keynote speaker: To be announced 9.30 Hedge fund authors
Hedge funds are rapidly moving from a niche industry to a vital part of the global investment landscape. Authors who have charted the history and growth of the industry will discuss these changes, including the focus on pension allocations, retiring of the old guard that made hedge funds famous, and how perceptions of hedge funds may shift in the coming years. Speakers include: Steven Drobny, author, ‘The Invisible Hands’ and ‘Inside the House of Money’; Simon Lack, author, ‘The Hedge Fund Mirage’, and founder, SL Advisors; Jack Schwager, author, ‘Hedge Fund Market Wizards’ and ‘Stock Market Wizards’.

10.15 Institutional investors

Leading investors will discuss the proper balance of direct versus intermediary-based investments to hedge funds, how the emergence of more liquid alternative structures will affect allocations, and which hedge fund strategies look attractive for the coming years. They will discuss how recent short-term reversals in hedge fund performance could affect the long-term trend of institutions increasing their allocations to the industry. Speakers include: Nick De Monico, chief executive officer, hedge fund strategies group, Commonfund; Seema Hingorani, head of public equities and hedge funds, Bureau of Asset Management, NYC Office of the Comptroller. Moderator: Lawrence Delevingne, staff writer, Absolute Return.

11.00 Coffee break 11.25 Best ideas presentations
In this must-attend session, six talented fund managers each make a case for one of the top investments in their portfolios, and share their invaluable investment insights with Symposium attendees. Speakers include: Brett Jefferson, founder and chief investment officer, Hildene Capital Management; Ross Margolies, founder and portfolio manager, Stelliam Investment Management; Michael Masters, founder and managing member, Masters Capital Management; Jonathan Neiss, assistant portfolio manager, Contrarian Capital Management; Patrick Wolff, founder and managing member, Grandmaster Capital. Moderator: Josh Friedlander, editor, Absolute Return.

Program

12.55 Lunch 14.00 Close
Absolute Return/HedgeFund Intelligence reserve the right to amend the program and is not responsible for cancellations due to unforeseen circumstances. Absolute Return/HedgeFund Intelligence accepts no responsibility for statements made orally or in written material distributed by any of its speakers at its conferences. In addition, Absolute Return/ HedgeFund Intelligence is not responsible for any copying, republication or redistribution of such statements.

www.absolutereturnsymposium.com

Speakers
On the second day of the Symposium, a selection of talented fund managers each make a case for one of the top investments in their portfolios. They will share their invaluable investment insights with Symposium attendees in this must-attend session.

Brett Jefferson, Hildene Capital Management
Brett is president and chief investment officer at Hildene Capital Management and oversees all firm investment decisions and strategies. Before founding Hildene, Brett was a managing director and senior portfolio manager at Marathon Asset Management, where he was responsible for CDO, CBO, and CLO investments in the Marathon Structured Finance Fund. Brett has 15 years of experience in the structured finance market and five years of experience in the option arbitrage industry.

Ross Margolies, Stelliam Investment Management
Ross is the founder/portfolio manager of Stelliam Investment Management. He manages both a long/short equity hedge fund and long equity fund for Stelliam. In 2009, Stelliam was named Absolute Return’s U.S. Equity Fund of the Year. In 2010 and 2011 it was named a Barron’s Top 100 hedge fund. Over his career, Ross has managed strategies including long/short equity, long equity, long convertibles, asset allocation and multi-strategy arbitrage. Before Stelliam, Ross had been a Barron’s Top 100 equity manager for six consecutive years, Lipper 5 Year Award winner for two years and Morningstar 5 star manager. 

Michael Masters, Masters Capital Management
Michael W. Masters is founder and managing member of Masters Capital Management, Inc. He has been chief investment officer – portfolio manager since its inception in 1994. Masters Capital Management, LLC, is the Atlanta based investment manager of the Marlin Fund, investing in U.S. equities and listed equity options. Its strategy is centred on themes and investor behaviour. Michael is the founder of DC based ‘Better Markets’, which promotes public interest in transparency, accountability and financial market oversight. He has presented expert testimony to the U.S. Congress, CFTC, Financial Crisis Inquiry Commission and other foreign governments. He has also presented to institutions including: OPEC; Hyman P. Minsky Conference; Energy Information Administration; Harvard Kennedy School; MIT and Georgia Tech.

Jonathan Neiss, Contrarian Capital Management
Jonathan Neiss joined Contrarian in 2004 and serves as assistant portfolio manager. In his role at Contrarian, he is focused on sourcing and managing distressed investments in U.S. corporate loans, bonds and trade claims. Jonathan is currently a board member of Exam Management Services and has served on a number of ad hoc creditor committees in large corporate bankruptcies including Adelphia, Calpine Corp., Charter Communications, Federal Mogul, Loral Space & Communications and Sea Containers. Before joining Contrarian, he was a distressed debt analyst with Murray Capital Management. From 2000 until 2002, he was an associate in the investment banking division at Salomon Smith Barney. From 1997 to 2000, he was an analyst in the investment banking division at Chase Securities. Jonathan graduated from Yeshiva University receiving his BA degree with honours in Economics.

Speakers include:

Patrick Wolff, Grandmaster Capital
Patrick is the founder and managing member of Grandmaster Capital. His business career started in 1997 at Mercer Management Consulting where he worked as a strategy consultant. From Mercer, Patrick went to Silicon Valley where he worked for two internet startup companies. In 2001, Patrick went to Capital One where he worked for four years in marketing and M&A roles. Patrick joined Clarium Capital Management in 2005 and served as a managing director and as a member of the firm’s investment committee. Between 1989 and 1995, Patrick played chess professionally. He is a Grandmaster, was twice the U.S. chess champion, and is the author of several books on chess.

Absolute Return Symposium 2012 | November 1 & 2, 2012 | 10 on the Park | New York

Attendees
More than 350 delegates from industryleading firms attend the Absolute Return Symposium. The breakdown of attendees last year was as follows:
Other 1% Hedge funds 33% Service providers 20% Funds of funds and investors 46%

Below is a selection of the companies that attended last year:
INVESTORS Academy Asset Mgmt Acceleration Capital Group ADP Alban Row Investments Alphasource Capital Securities APG Asset Mgmt Bernstein Global Wealth Mgmt Bessemer Trust Blue Heron Capital Boothbay Family Office Chemetals Inc CHIMCO Circle Wealth Mgmt Commonfund Convergent Wealth Advisors DuFresne Family Office Edgewood Mgmt EJA Foundation Fidelity Family Office Gemini Family Office General Atlantic Glenwood Capital Gordon Family Office Harvard University Helvetica Wealth Management Partners Heyman Family Office Houston Firefighters Retirement Fund Indianapolis Museum of Art Krusen Capital Management Levitt Family Office Market Street Trust Company MetLife Nawbatt Family Office New York City Retirement Systems New York University Newport Wealth Mgmt Northwestern Mutual NYC Patrolmen’s Benevolent Association PGGM Investments Principia College Private Investor Rockefeller Capital Partners SC Capital Advisors Shoreview Management Tenth Avenue Holdings The College of William & Mary Foundation The Fruchthandler Foundation The Gemma Foundation The Goldman Family Foundation The Jordan Family Office The University of Connecticut Foundation The Whitman Foundation Tiedemann Trust Company Topwater Investment Management Turtle Creek Investment Advisors UBS Wealth Management UJA-Federation of New York UN Joint Staff Pension Fund UNC Management Company UNConsulting Washu Endowment Yale University Yeshiva University FUNDS OF FUNDS AC Investment Mgmt Advanced Portfolio Mgmt Amundi Alternative Investments Asset Alliance Corp Federal Street Partners FRM Goldman Sachs Asset Mgmt Investcorp Lazard Asset Mgmtt Lombard Odier Asset Mgmt Lyxor Asset Mgmt Man GLG MAP Alternative Asset Mgmt Meridian Capital Partners Morgan Creek Capital Morgan Stanley AIP PineBridge Investments Prelude Capital Quest Trading Managers Ramius Alternative Solutions Sandalwood Securities Schroders NewFinance Capital Silver Creek Capital Mgmt Sire MgmtCorp. Telluride Asset Mgmt Terrapin Asset Mgmt van Biema Value Partners Zurich Alternative Asset Mgmt HEDGE FUNDS 2100 Xenon 5:15 Capital Abraham Trading Arrowhawk Atlantic Investment Mgmt Atyant Capital Basso Capital Basswood Capital BHR Capital BlueMountain Capital Boston Provident Brown Bear Capital BTG Pactual Canyon Capital Advisors Chichester Capital Citadel Asset Mgmt Clemens Square Covepoint Capital Advisors CQS Daiwa Asset Mgmt Geosphere Capital Glazer Capital Goldentree Asset Mgmt Gotham Asset Mgmt Greenheart Capital Partners Hayman Capital Hermitage Capital Holding Capital Group Ivory Capital Partners James Caird Asset Mgmt Levin Capital Strategies Litespeed Mgmt Longbow Capital Partners Lucidus Capital Man GLG Marathon Asset Mgmt Martin Currie Investment Mgmt Millennium Mgmt Niederhoffer Capital NuWave Investment Omega Asset Mgmt Pine River Capital Prosiris Capital Rho Asset Mgmt Sagil Capital The D.E. Shaw Group The Rohatyn Group

For a full list of attendees visit: www.absolutereturnsymposium.com

www.absolutereturnsymposium.com

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