8:00am – 9:00am

Breakfast

9:00am – 9:10am

Argyle Executive Forum Opening Remarks

9:10am – 9:50am

Panel Discussion

“A Look at the Role of Alternative Investments in 2011”

Session topics include but are not limited to:

• How should ‘alternatives’ be defined in 2011? What do you consider to be an ‘alternative’ investment: Underlying characteristics? Risks? Correlations?
• Thoughts on the fundamental value proposition of investing in alternatives?
• There seems to be revived interest in the hedge fund and private equity spaces. Would you agree with that, or do you think they’ve lost their shine?
• How can you effectively, and objectively bench-mark PE or hedge fund investments?

Moderator:
Peter Carey
Managing Director
SkyBridge Capital

Panelists:
Alan Biller
President and Founder
Alan D. Biller & Associates Inc

Ronald Peyton
Chairman & Chief Executive Officer
Callan Associates Inc.

Jeff Pippin
SVP & Chief Investment Officer
Pepperdine University

Jennifer Urdan
Managing Director
Cambridge Associates Inc

9:55am – 10:35am

Panel Discussion

“Emerging Markets”

Session topics include but are not limited to:

• Emerging Markets are rapidly becoming a driving force in the market. Are even the most developed (e.g. China, LatAm) too risky for institutional investors or do they offer attractive opportunities/returns?
• What kinds of vehicles have you used, or would you consider using to access Emerging Markets?
• Where specifically do you see opportunities in ‘emerging markets’? Do you consider investments on the geographical or sector level primarily?
• Within EM do you think debt or equity is a more interesting/profitable bet?
• How closely do you think the global markets are correlated? What kinds of trends do you look for?
• Are EM investments limited to larger investment offices that have the capacity to travel to conduct due diligence, or can smaller offices access that market as well?

Moderator:
Nathaniel Baker
Editor
Bloomberg LP

Panelists:
Ron Albahary CFA
Chief Investment Officer
Convergent Wealth Advisors

Robert Horrocks
Chief Investment Officer and Portfolio Manager
Matthews International Capital Management

William Deu Lee
VP, Pension & Foundation Investments, Chief Investment Officer
Kaiser Permanente

Lee Partridge
CIO/Portfolio Strategist
Salient Partners/SDCERA

10:40am – 11:00am

Thought Leadership Spotlight presented by World Gold Council

“The Strategic Case for Gold: Rediscovering an Asset Class"

Session topics to include, but not limited to:

• Review of gold as a strategic asset, over and above just an inflation/currency hedge.
• How investments in gold can play into institutional portfolio risk management strategies.
• A look at the drivers of price/performance, both recently and over the last decade.

Juan Carlos Artigas
Investment Research Manager
World Gold Council

11:00am – 11:30am

Coffee Break

11:30am – 12:10pm

Panel Discussion

“A Look at Market Trends Affecting Investors in 2011”

Session topics include but are not limited to:

• How does macroeconomic research play a role in your investment process or is your approach more opportunity specific? What kinds of trends in the market do you pay closest attention to?
• What framework do you apply in your assessment of investment opportunities for possible inclusion in your portfolio: time horizon, return objective, risk level?
• Managing Risk is always on investor’s minds, what are your thoughts on trends towards LDI strategies, and risk parity, vs. other more traditional approaches.
• What are your thoughts on Public Policy risks as it relates to your portfolio (monetary, fiscal, and/or legislative)?
• How can you inoculate your portfolio against an inflationary and deflationary environment? Is it a worthwhile exercise?

Moderator:
Don Stracke
Senior Consultant
New England Pension Consultants

Panelists:
Keith Mote
Partner
Hammond Associates | Mercer

Michael Rosen
Chief Investment Officer
Angeles Investment Advisors

Dale Wallis
Vice President, Chief Financial Officer and Treasurer
The Aerospace Corporation

12:15pm – 12:45pm

“State Treasurer’s Perspective on the Investment Environment”

Session topics include but are not limited to:

• Outlook on the future and context of California’s budget crisis, as well as other states facing similar crises.
• Discussion of political environment/challenges for 2011 and how investors will be affected: thoughts on the current situation in Wisconsin and the fight over collective bargaining.
• A look at recent reforms to California’s state funds and ongoing efforts to restore public confidence.

The Honorable Bill Lockyer
Treasurer
State of California

12:45pm – 1:45pm

Lunch

1:45pm – 2:25pm

Panel Discussion

“Public Funds Roundtable”

Session topics include but are not limited to:

• A look at regulations affecting public plans in 2011 and best practices for managing the changes. Thoughts on the role of the SEC or other agencies in managing pension plans, and will greater regulation sufficiently address the most pressing problems?
• How do you think fiduciary responsibility and investment ethics affect investment decisions differently at a public plan vs. an endowment, foundation or for a plan sponsor?
• Thoughts on risk parity as a risk management strategy from the public plan perspective.
• A look at what macro/market trends  are most important influences on your investment choices/strategies
• A look at how (or if) allocations have changed since 2008, and what a “diversified” portfolio should look like for a public fund, as well as discussion of where you see returns in 2011. 
• What role should investment committees or board have when it comes to investment decisions? How do you think an investment committee should be made up?

Moderator:
Nathaniel Baker
Editor
Bloomberg LP

Panelists:
Gene Canzano
Board Chair
Los Angeles City Deferred Compensation

Bob Hullinghorst
Treasurer
Boulder County

John Mumma
Director
Los Angeles Police Protective League

2:30pm – 3:00pm

“Portfolio Construction and Risk Management under Non-Normality”

Session topics include but are not limited to:

• A look at portfolio management best practices in an imperfect world.
• Thoughts on the ‘new normal’ investing environment.
• Discussion of how to apply comprehensive risk management strategies throughout a portfolio.

Ho Ho
Portfolio Manager
CalPERS

*This session is off the record

3:00pm – 3:10pm

Argyle Executive Forum Closing Remarks

3:10pm – 4:10pm

Closing Reception

 

 

*Agenda is subject to change