Investing in Liquid Alternatives

Identifying investment opportunities across a growing spectrum of strategies

April 28, 2015 | Convene Conference Center, New York City

This conference has been accepted by the CFP Board for 9 CE credits.
IMCA has accepted this conference for 9 hours of CE credit towards the CIMA®, CIMC® and CPWA® certifications

7:15 – 8:15 - Registration & Breakfast

8:15 – 8:20 - Welcome & Introduction

Don Friedman, Founder & CEO
Joint Venture Events Group

CHAIRPERSON’S OVERVIEW

8:20 – 9:10 - The New Era of Liquid Alternatives: Opportunities & Challenges
Liquid alternatives are the fastest growing segment of the mutual fund industry. Accomplished alternative managers are bringing their strategies from the rarefied world of institutions and private funds to the public realm of mutual funds. Advisors and investors are searching for liquid alternatives that may provide tools for risk management, differentiated returns, or greater diversification for investors. To succeed, professionals must analyze multiple strategies and varied investment approaches within each strategy. This session will survey the current landscape of liquid alternatives, the range of opportunities, and the challenges advisors and investors face in selecting strategies and funds.

Rick Lake, Co-Founder & Co-Chairman
Lake Partners

GLOBAL MACRO

9:10 – 10:00 - The World of Global Macro
Global macro opportunities span not only geography but also asset classes. The divergence of economies and markets worldwide may heighten risks for investors broadly, but may provide new opportunities for global macro managers. Global macro managers highlight how they identify long and short opportunities and hedges across equity, fixed income, commodity, and currency markets.

Tom Clarke, Co-Portfolio Manager
William Blair Macro Allocation Fund

Tam McVie, Investment Director
Standard Life Investments

10:00 – 10:30 - Morning Networking Break

LONG/SHORT EQUITY
10:30 – 11:20 - KEYNOTE PRESENTATION:
Long/Short Value Investing: A Smoother and Smarter Way to be an Equity Investor
Joel Greenblatt, Managing Principal and Co-CIO of Gotham often says, “The best investment strategy is one that an investor can stick with over the long-term.” During this session, Mr. Greenblatt will explain why he believes that diversified long/short equity investing is a smarter way to be a contrarian value investor over the long-term. He will also elaborate on the fundamental valuation principles and disciplined portfolio construction process that he and his partner, Robert Goldstein, have developed over their 50+ years of combined investment experience.

Joel Greenblatt, Managing Principal and Co-CIO
Gotham Asset Management

ARBITRAGE & EVENT-DRIVEN INVESTING
11:20 – 12:10 - Arbitrage Spreads & Corporate Events as a Driver of Returns
Merger and convertible arbitrage funds, seeking consistent returns, were among the first alternative mutual funds. The number and variety of arbitrage and event-driven funds continue to increase in the world of liquid alternatives, as investors seek sources of returns less dependent on market direction. Fund managers will review how they seek to exploit return opportunities from mergers, acquisitions, spinoffs, and restructurings, as well as arbitrage spreads, and how these strategies are implemented in liquid alternative structures.

David Baker, Partner, Portfolio Manager
Perella Weinberg Partners

Roy Behren, Managing Member & Portfolio Manager
Westchester Capital Management

Michael Shannon, Managing Member & Portfolio Manager
Westchester Capital Management

12:10 – 1:10 - Luncheon For Delegates & Speakers

PRIVATE EQUITY

1:10 – 2:00 - Private Equity: Investing Across the Liquidity Spectrum
Private equity and venture capital were among the first alternative investment strategies. Historically, these strategies have sought to exploit the potential illiquidity premium in private markets. New structures seek to enhance the liquidity and accessibility of these strategies. The session will review how this evolution represents new avenues for investors to diversify their alternatives exposure across the liquidity spectrum.

Ryan Levitt, Principal
Pomona Capital

Mark Sunderhuse, Founder, Managing Director & Co-Portfolio Manager
Red Rocks Capital

MANAGED FUTURES
2:00 – 2:50 - The Resurgence of Managed Futures
Managed futures strategies were under pressure in past years as public policy intervention punctuated trends and dynamics within global markets. Recently, performance has strengthened across the spectrum of managed futures funds. Divergent central banks and world economies, declining oil and commodity prices, as well as new trends in currency and financial markets have provided fresh sources of profits for both discretionary and systematic managers. This session will highlight the dynamics leading to a potential renaissance for managed futures, how the sector may complement traditional assets, and the risks that remain.

Keith Black, Managing Director of Exams and Curriculum
CAIA Association

William Marr, Senior Managing Director, Head of Liquid Alternative Investments
State Street Global Advisors

2:50 – 3:15 - Afternoon Networking Break

ALTERNATIVE FIXED INCOME
3:15 – 4:05 - End of the Bond Bull Market & Rise of Non-Traditional Bond Funds
A 30+ year bull market in bonds has left investors with low yields and fears of rising rates and duration risk. Non-traditional and unconstrained bond funds may help navigate the inflection point of today’s fixed income markets, whether investors seek yield, total return, or a “smoother ride.” The session will review the spectrum of strategies, from long/short credit to long/short sovereign bonds and currencies, as well as the varied types of risk in fixed income markets worldwide.

Jeff Gary, Senior Portfolio Manager
Avenue Capital Group

K.C. Nelson, Managing Director, Portfolio Manager
Driehaus Capital Management

R. Ty Powers, Director, Portfolio Management
Hatteras Funds

VOLATILITY
4:05 – 4:55 - Volatility: Risk, Phenomenon, or Investment Strategy?
Practitioners and academics continue to debate the nature of risk and volatility. Now, volatility is not just a phenomenon, but an investment strategy. Managers who have transported volatility strategies into liquid structures will provide an overview of the profit and hedging opportunities, as well as the hazards inherent in volatility investing.

Moderator:
Rick Lake, Co-Founder & Co-Chairman
Lake Partners

Panelists:
Keith Black, Managing Director of Exams and Curriculum
CAIA Association

Anthony Caine, Founder & Chairman
LJM Partners

Rob Guttschow, Senior Portfolio Manager
First Trust Advisors

PUTTING LIQUID ALTERNATIVES TO WORK
4:55 – 5:45 - Asset Allocation & Portfolio Construction with Liquid Alternatives
The conference will conclude with a survey of practical portfolio construction approaches utilizing liquid alternatives. What allocations to liquid alternatives may potentially increase diversification, reduce volatility, or enhance returns for a multi-asset portfolio? Should allocations to liquid alternatives be funded from stocks, bonds, or both? What kind of liquid alternative allocations may be most appropriate for different types of clients?

Moderator:
Rick Lake, Co-Founder & Co-Chairman
Lake Partners

Panelists:
Walter Davis, Alternatives Investment Strategist
Invesco

Tanya Ghaleb-Harter, Director, Alternative Investments
Merrill Lynch

Ryan Tagal, Vice President - Product Management
Envestnet Asset Management

5:45 – 7:00 - Cocktail Reception

JV Events Group reserves the right to alter the agenda without notice, including substitution or cancellation of speakers and/or topics.