Hedge Funds - Role Redefined?

30 November 2009 London, City Location 9.00-12.30

Description

You may be interested in our 2 day Hedge Fund Strategies course - 15-16 October, London & Dubai. Sign for both courses at the same time and receive 10% discount of the full value of the 2 day course. 

Half Day Workshop

Hedge Funds, like many other financial assets, struggled in 2008 as volatility shot up & liquidity selectively disappeared. A large number of managers are now holding high cash balances in order to meet redemption requests. There are also managers with illiquid holdings that, at least in the short term, will prove difficult to convert into cash. Performance issues, delays in redemption payments & a preponderance of ‘Gates’ have combined to leave a bad taste in investors’ mouths.
 
While the absolute return concept has, understandably, been damaged, claims that the asset class is ‘dead’ are premature. With crises there are also opportunities. The playing field will be less crowded going forward & the many surviving funds will find the competition diminished. From an Investor’s perspective, identifying the best managers (those that sailed through 2008 in positive territory for example) will be key.
 
This short but practical workshop investigates recent market changes that have affected hedge funds and their performance. What happened and what went wrong? How has the role of hedge funds changed in the investment portfolios? And finally, what hedge funds have to do in order to regain customers and strengthen risk management function?
 
Use this excellent opportunity to meet your peers and discuss the future of the hedge funds sector.
 

Main Topics Covered During This Workshop

  • Lessons learnt from 2008
  • How big is the Hedge Funds universe now?
  • The latest strategies in the hedge funds industry and how the latest market events affected this sector
  • Should you still have hedge funds in your portfolio and why? Examining pros and cons
  • Benchmarking and due diligence process
  • Risk management for hedge funds: legal, credit, operational, financial and other
  • The roles of prime brokers, custodians and fund managers

Who Should Attend

This workshop aims at anyone who is investing or otherwise involved in the hedge funds universe and want to understand changes that are taking place in this sector.

From Investment Banks, Asset and Fund Managment, Private Banking and Institutional Investors managers and Team Members of:
  • Risk Management
  • Fund Management
  • Sales & Distribution Management
  • Investor Solution Teams 
  • Audit, Legal & Compliance Teams 
  • Pension Fund Managers & Trustees
  • Custodians & Fund Administrators 
  • Prime Brokers
  • Family Office Investors 
  • Hedge Fund Analysts 
  • Structured Products Managers
  • Investment Advisory
  • Investor Relations
  • Investment Risk & Performance
  • Relationship/ Wealth Management
  • Private Investors
  • Lawyers

Workshop Director

Paul Meadows

Paul started his career in 1983 at Royal Insurance in the long-term equity portfolio team. In 1990 he joined Swedish insurer Trygg-Hansa’s London start-up operation to manage its UK Equity exposure.

In 1994 he moved into the Private Client arena, as part of the Investment Unit of Lloyds Private Banking & over a two year period diversified away from an exclusive analytical/Fund Management role to incorporate an extensive presentational package on the Bank’s investment strategy delivered ‘on the road’ to its network of offices around the country.

In 1996 Paul joined Bank of Butterfield to head up the global Equity research effort in London in support of the Bank’s (offshore) private client base. By this time that he had also developed training material covering most aspects of Portfolio Management & the behaviour of institutional investors for delivery (as a freelance consultant) to a wide range of audiences in the UK & abroad. This was subsequently extended to incorporate the Private Client Asset Management area. 

Paul had a spell with an international high-risk security company analysing the operations of quoted oil & mining corporates worldwide. In 2000 Paul moved into full time training with main course providers, specialising in Fund Management, Equity Markets, Private Banking & Hedge Funds. 

Clients trained include Citigroup, Man Investments, Axa Investment Managers, Barclays Global Investors, Brevan Howard, HSBC, Renaissance Capital.

London, City Location

You may be interested in our 2 day Hedge Fund Strategies course - 15-16 October, London & Dubai. Sign for both courses at the same time and receive 10% discount of the full value of the 2 day course. 

8.30 Registration and coffe

9.00 Session 1

Hedge Funds – What are they? 
 
  • Hedge Funds defined. Lock-ups, gates, hurdle rates
  • The pursuit of Absolute Return & performance fees. So what happened in 2008?
  • How big is the Hedge Fund universe? Lesson from 2008: smaller than it was
  • External relationships - Prime brokerage, custodians, fund administrators
  • Tactics - Leverage & short selling. Lesson from 2008: regulatory intervention

Case Study: How do investors choose their Hedge Fund manager?

 10.30 - 11.00 Networking Coffee
 
11.00 Session 2
 
Why Hedge Funds? The Big Issues for Investors
 
  • Rationale for Hedge Funds in an investors’ portfolio. Is it still there?
  • The non-correlated asset class, survivorship bias, drawdown
  • Lesson from 2008. HNWIs leaving the ship, institutions more cautious
  • Lesson from 2008: Liquidity mismatch
  • Benchmarking problems for Hedge Fund investors
Case Study: Exclusion criteria in the due diligence process
 
Session 3
 
Risk Management for Hedge Funds
 
  • Market, leverage and credit risk
  • Political and legal risk
  • Gap and liquidity risk, mark-to-market risk, style drift risk
  • Why do Hedge Funds fail? Do not forget operational risk
  • Due diligence 
  • Tools for the analysis of financial risk – From VaR to stress testing

12.30 End of the Workshop and Networking Lunch

30 November 2009 London, City Location

Price: £235 + VAT till 30 of October

£250 + VAT after that date

3 people - 10% discount. 

You may be interested in our 2 day Hedge Fund Strategies course - 15-16 October, London & Dubai. Sign for both courses at the same time and receive 10% discount of the full value of the 2 day course. 

Discounts

  • Anyone who signs up for one of our workshops will receive special discount for our regular training (to be used within a year).

IN-HOUSE TRAINING

  • This course can be customised and organised in-house at your convenience. Contact one of our advisors to find out more.

                 Call us now on +44 (0) 207 193 5035

or send us an e-mail to: enquiry@eurekafinancial.com