Capitalising on Convergence

July 05, 2013  

InvestHedge’s unique combination of the Forum & Awards brings together the best hedge funds and their investors on 24-25 September at the British Museum in London

Davina MacKail
Jay Youngdahl
 
  Ian Prideaux
Institutional investors are helping themselves to hedge funds and the way they are accessing hedge funds has changed. So too have hedge funds that want money from these investors. In this rapidly-changing world, does performance still matter or is it just about risk management and asset gathering?

What investors expect from hedge funds and what they will ultimately receive will depend entirely on their beliefs around hedge funds and their purpose in the portfolio. The annual autumn event that will once again be held in the fabulous setting of the British Museum in London's Bloomsbury area promises to offer the ultimate self-help guide to hedge fund investing.

The InvestHedge Forum, which this year will be themed 'Capitalising on Convergence', has always addressed the issues at the interface between hedge funds and their investors by selecting keynotes and panellists from the hedge fund, funds of funds and institutional investor communities that generously share their ideas and experience providing a forum for curiosity, education and discovery.

While this year will be no different, the event will also focus on the increasing convergence between funds of hedge funds and the consulting community; the convergence between traditional long-only and alternative investing; and the rise of the 'retail' hedge fund investor. Where there is convergence, there is always divergence, and good hedge funds have always been able to take advantage of these idiosyncrasies.

As always the InvestHedge Forum will have high level hedge speakers themed around well-known self-help titles, the InvestHedge Forum will continue to bring a fresh take on classic strategies such as credit, fixed income, equities and CTAs; the latter in a session hosted by NewEdge called You can heal your portfolio: How to add CTAs to the mix. Bill Michaelcheck, chairman and chief investment officer of Mariner Investment Group, will join a panel exploring seeding and incubation.

The two-day event will open with The alchemist, a global macro session, which will include experts in this space such as David Smith from GAM, and explore the golden opportunities for returns. While on day two, Mariner will host Who moved my credit? - a session specifically focused on the ever evolving world of rates, fixed income and credit.

As pension funds buy hedge funds directly, funds of hedge funds have had to evolve. A session entitled The consultant is just not that into you will explore the different strategies that FoHFs are adopting to adapt to the new environment. To fuel the consultant debate further, this year's keynote Jay Youngdahl, from Harvard University, will give a talk based on his recent paper on Investment consultants and institutional corruption.

The art of investing directly is a theme that will be explored in further depth in a session hosted by Aberdeen Asset Management: The hedge fund manager that sold his Ferrari. While Aurora will take an in-depth look at how to implement hedge funds in a custom separate account in a session called Awaken the giant within and Banque Privée Edmond de Rothschild will tackle the tricky and ever present issue of fees in Tipping point: How low can fees go before service is compromised?

Chris Hohn, founder of The Children's Investment Fund, asked the obvious performance question during his keynote at this year EuroHedge Summit in Paris: "Why would you want to have smooth monthly returns instead of making money?" And a session titled The untethered investor: You cannot eat Sharpe discusses this very question. Has performance gone out of fashion or is it the main differentiator between an intelligent investor or a fear-led one? The performance debate is tackled in more depth in a session hosted by Union Bancaire Privée called Invest, hedge, pray: Are hedge funds not performing or are they misused?

What makes an investor successful? This question will be answered in Seven Habits of Highly Successful Investors. As convergence gains momentum, so too does consolidation. Is buying assets better than building assets and can competing cultures work in harmony for a greater good? These will be some of the questions covered in Buyers are from Mars, sellers are from Venus: The rules for getting M&A right.

As the hedge fund world starts to look towards the retail market for new investors, the power of branding and logos will become ever more evident as the race to raising assets will be determined by who the man on the street feels "safe" with. Will it be the hedge fund with the great product or the retail label with a great brand? Davina Mackail, author and alternative brand expert, will give us a rare insight into the power and purpose of the logo in her keynote speech: The logo decoded.

Once again, InvestHedge is holding the InvestHedge Award in conjunction with the InvestHedge Forum, continuing the tradition of hosting the single must-attend event for hedge funds and their investor community that combines education with the recognition of performance excellence.

The InvestHedge Awards will recognise the best risk-adjusted performers globally at a glamorous gala dinner, which like last year, will be held in the magnificent Great Court of the British Museum on the night of the 25 September.

The Awards will continue to recognise risk-adjusted performance that for the majority of categories will be calculated over a five-year period, as well as rewarding long-term excellence in the funds of funds world over 10 and 20 years.

The InvestHedge Awards on 25 September will allow a deeper level of networking, but as with all HedgeFund Intelligence events, the high-quality content of the programme and speakers will be enhanced with informal discussions and the gala cocktails that will be hosted in the Enlightenment Gallery, the oldest gallery in the Museum. During the drinks reception, delegates are invited to a private view of Life and death in Pompeii and Herculaneum in the Reading Room.

As in previous years, the Forum is expected to attract more than 400 delegates from both the hedge fund and investor communities. Demand is expected to be high and delegates are encouraged to register early. Download the booking form online at: www.investhedgeforum.com

InvestHedge Forum Programme Keynotes
Davina Mackail, speaking on The Logo Decoded
Ian Prideaux, Grosvenor Estate
Jay Youngdahl, Harvard University

Speakers confirmed so far
Arie Assayag, Union Bancaire Privée
Alison Clark, Hymans Robertson
Luke Dixon, Universities Superannuation Scheme
Neil Dolby, Aberdeen Asset Management
Lionel Erdely, Lyxor Asset Management
David Kuenzi, Aurora Investment Management
Jon Little, Northill Capital
Damien Loveday, Towers Watson
Roxanne Martino, Aurora Investment Management
Andrew McCaffery, Aberdeen Asset Management
Neil Meadows, Laurentia
Bill Michaelcheck, Mariner Investment Group
Antonia O'Connor, Aberdeen Asset Management
Donald Pepper, Old Mutual
Isabelle Perrault, Aurora Investment Management
Alexandre Pini, Banque Privée Edmond de Rothschild
Jaume Sabater, Banque Privée Edmond de Rothschild
Scott Schweighauser, Aurora Investment Management
David Smith, GAM
Jean-Marc Stenger, Lyxor Asset Management
Mike Weston, DMGT

Sessions
The alchemist: Which base currency assets are turning noble?
The consultant is just not that into you: How FoHFs are adapting to stay in business
The hedge fund manager that sold his Ferrari: Is there life beyond the 'guru'?
You can heal your portfolio: How to Add CTAs to the Mix
Tipping point: How low can fees go before service is compromised?
Awaken the giant within: A case study on how to implement hedge funds in a custom separate account
The power of new: Seeding and incubation stage Investing
The Untethered Investor: You cannot eat Sharpe
Seven habits of highly successful investors
Who moved my credit? Mixing a timely cocktail of rates, fixed income & credit
Invest, hedge, pray: Are hedge funds not performing or are the misused?
Buyers are from Mars, sellers are from Venus: The rules for getting M&A right
The secret: Manifesting assets from the man on the street
Feel the fear and ramp up the risk
The road less travelled: What are the new alternatives?
Outliers: Credit strategies beyond the obvious
Chicken soup for the investor: Can regulation cure all ills?
The Asia Prophecy: Which Asian path is most luminous?
Europe anonymous: 12 steps to Europe's recovery
Blink: Intuition and the art of manager selection

InvestHedge Awards for Performance Excellence: Updated nominations*

Arbitrage • 5 Years
Aberdeen Orbita Capital Return Strategy
Archstone Absolute Return Strategies
Bodleian Partners A
Edmond de Rothschild Prifund Alpha Uncorrelated
NB Offshore Diversified Arbitrage Fund II
Pine Grove Partners
SSARIS Multi-Manager Relative Value
William Blair Green Terrain Fund

Event Driven & Distressed • 5 Years
Antarctica Credit and Distressed Fund
Avenue Strategic Partners

Fixed Income & Credit • 5 Years
GHF Sicav Fixed Income
Lighthouse Credit Opportunities Fund
Permal Fixed Income Holdings
Signet Global Fixed Income Fund

Commodities & Natural Resources • 5 Years
Aurelian Global Resources
Pinnacle Natural Resources

Global Macro & Futures • 5 Years
Crown Managed Futures Seg. Portfolio
GAM Trading II
GHF Sicav Global Macro A
Morgan Stanley AIP Global Macro Fund
Optima Discretionary Macro Fund
Permal Macro Holdings
Trading Capital Holdings
Small/Emerging Manager

Specialists • 5 Years
Alternative Investments Institutional
Kingsbridge Partners
Larch Lane Absolute Return I
Prima Capital Fund
Protégé Partners Fund
Sire Partners

Asian & Emerging Markets • 5 Years
Penjing Asia Market Independent Fund
Persistent Edge Asia Partners Master Fund
Persistent Edge China Partners
SAIL Asia Pacific Managers Fund

European Strategies • 5 Years
European Capital Holdings
European Selection Holdings
Permal European Holdings

Global Equity • 5 Years
ABS Offshore SPC Global Seg. Portfolio
Cerrado Fund
Diversified Absolute Return Fund
Hedge Invest Global Holdings
Lighthouse Global Long/Short Fund
Optima Partners Focus Fund

US Strategies • 5 Years
American Selection Holdings
AP Opportunities Fund
Leveraged Capital Holdings
Lyrical Multi-Manager Fund
Magnitude US Partners
New Providence Associates
Private Advisors Hedged Equity Fund
Voyager Partners
William Blair Blue Terrain Fund

GMS $100m-$500m • 5 Years
Culross Global Fund
Double Eagle Capital Ace Fund
Morgan Stanley Opportunistic Fund
PCAM Blue Chip
Permal Investment Partners
Pluscios Diversified Core
Saguenay Offshore Fund
The Hedged Strategies

GMS $500-$1Bn • 5 Years
Archstone Partners
Aurora Global Opportunities
Cube Global Multi-Strategy Fund
DGAM Unique Strategies Fund
Global Managers Selection Fund
Magnitude Institutional
Morgan Stanley Institutional FoHF
Prisma Spectrum Fund
SAIL Topaz Fund
SkyBridge Legion Strategies

GMS >$1Bn • 5 Years
Aurum Isis Fund
Corbin Pinehurst Institutional
DGAM Diversified Strategies Fund
EnTrust Capital Diversified Fund
Ignis Systematic Strategies Fund
Magnitude International
Private Advisors Stable Value Fund
SkyBridge Multi-Adviser Hedge Fund
SSARIS Multi-Manager Absolute Return

10 Year Award $500m-$1bn
Alternative Investments Institutional
Archstone Partners
Aurora Global Opportunities
Edmond de Rothschild Prifund Alpha Uncorrelated
SAIL Topaz Fund
SkyBridge Legion Strategies
Trading Capital Holdings

10 Year Award $1bn
Aberdeen Orbita Capital Return Strategy
Aurum Isis Fund
Corbin Pinehurst Partners
GAM Trading II
Magnitude International
Permal Fixed Income Holdings
Private Advisors Stable Value Fund
Protégé Partners Fund
SkyBridge Multi-Adviser Hedge Fund
SSARIS Multi-Manager Absolute Return

20 Year Award >$500m
Archstone Partners
Aurora Limited Partnership
Blue Rock Capital Fund
GAM Diversity
Haussmann Holdings
Leveraged Capital Holdings
NS Selection - Columbus
Optima Fund
Permal Macro Holdings

20 Year Award Smaller Manager Specialists ($100m-$500m)
Larch Lane Absolute Return I
Prima Capital Fund
Sire Partners

Institutional FoHF • 5 Years
To be announced prior to the event

Group of the Year • 5 Years
To be announced prior to the event

Absolute FoHF • 5 Years
To be announced on the night





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