Philip Best CRO

Barclays Wealth and Investment Management

Ugo Bassi Director,

European Commission, DG FISMA (Financial Services DG)

Vikramaaditya Global Head of Business &

Regulatory Programmes HSBC Global Asset Management

Robert Taylor Head of Investment Management

Financial Conduct Authority

Stéphane Janin Head of Global Regulatory

Development AXA Investment Managers

Andrew Crain MD, Global Head, Regulatory

Engagement and Development BlackRock

Thomas Albert CEO

Oppenheim Asset Management

Robert Baur Chief Global Economist

Principal Global Investors

Christian Pittard Group Head of Product

Opportunities Aberdeen Asset Management

Charles Goodman CEO

Edmond de Rothschild Asset Management (UK)

Furio Pietribiasi CEO

Mediolanum Asset Management

Neil Donnelly Global Head of Compliance

Pioneer Investments

HEAR FROM MORE THAN 50 CEOs, CROs & HEADS OF RISK INCLUDING:

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8-9 MARCH 2017 | FENCHURCH STREET, 8 FENCHURCH PLACE, LONDON

REGULATORY CHANGE & BUSINESS IMPACTSSenior Compliance and Regulatory professionals deliver insights into:

Regulatory Landscape | MiFID II | Regulatory Reporting Execution Risk | Unintended Consequences | PRIIPS

Conduct Risk | Communications & Surveillance

PRODUCT INNOVATION & CLIENT SOLUTIONS

Senior product development and innovation professionals deliver insights into

Active Versus Passive | Smart Beta | Exchange Traded Funds | Delivering Alpha | Scenario Review| Fees Investment Environment | Multi Asset Investing

Alternative Investment | Creative Products

KEYNOTE SESSIONSC-suite Line Up Delivering Insights

Into Strategic Topics Including:

Market Volatility and Events | Systemic Risk A Regulator’s Perspective | Globalisation of the Industry

Technology & Data

LIQUIDITY RISK MEASUREMENT & MANAGEMENT

Senior Risk, Investment Risk and Portfolio Management professionals deliver insights into a

broad range of topics including:

Market Events & Fund Structures | Measuring Liquidity Liquidity & Leverage | Liquidity Regulation | Collateral

Management | Market Conditions | Stress Testing | 40 Act Fund Legislation | Sell Side | Central Clearing

TOPICS ADDRESSED FOR 2017

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WHAT’S BEING COVERED

• Keynote panel discussion with CRO (Barclay Wealth and Investment management), CEO (Edmond de Rothschild Asset Management UK), Head of Risk (Neuberger Berman EMEA), and Chief Global Economist (Principal Global Investors) on the impact of market volatility and events for efficient running of the business

• Head of Global Regulatory Development (AXA Investment Managers) on Systemic Risk and the Asset Management industry

• Head of Investment Management (Financial Conduct Authority) provides a regulator’s perspective on fund management

• CEO (Oppenheim Asset Management) addresses the increasing globalisation of the industry and leveraging resources and opportunities across regions and regulators

• CEO (Mediolanum Asset Management) with insights on gaining competitive advantage in an increasingly technology driven era

INTERNATIONAL FUND MANAGEMENT | 8-9 MARCH 2017 | LONDON

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STREAM ONEREGULATORY CHANGE & BUSINESS IMPACTS• A dedicated regulatory stream running across both days• Including a regulatory landscape panel discussion with Global Heads and Heads, from HSBC Global Asset Management, Principal Global Investors, and AXA Investment Managers.• Focused sessions from M&G, Principal Global Investors, and Standard Life Investments on MiFID II to discover the breadth of change, overall impact across Europe, the effects on fund managers and investors, investor protection and product criteria to distributors, and more.• Presentations and panel discussions across the two days on key risk areas including; PRIIPS, execution risk, regulatory reporting, conduct risk and communications and surveillance.

STREAM TWOLIQUIDITY RISK MEASUREMENT AND MANAGEMENT• A dedicated stream focusing on a range of liquidity risk measurement and management challenges, running across both days• Assess the detrimental impact of market events, such as BREXIT, on fund structures and underlying assets with Heads and Directors of Henderson Global Investors, Aviva Investors, and Principal Global Investors.• Presentations and panel discussions across both days on a range of liquidity risk management topics across a broad spectrum of asset classes, delivered from industry experts from; BlackRock, JP Morgan Asset Management, Swiss Life Asset Managers, Aviva Investors, and many more.

STREAM THREEPRODUCT INNOVATION AND CLIENT SOLUTIONS • A dedicated stream addressing a range of challenges within the product development space, running across both days• Join the active versus passive panel discussion with the Global Head of Product Development at Aberdeen Asset Management, Head of Equities at Hermes Investment Management, and Director iShares/Head of EMEA Product Research and Innovation at BlackRock.• Insights and expert opinion pieces from Aberdeen Asset Management, Vanguard, PIMCO, Barings, UBS Asset Management and many more on defining a product strategy, the investment environment, multi asset investing, alternative investment, creative products and many more.

KEYNOTE SESSIONS FROM CEOs, CROs AND THE FCA

MULTIPLE STREAMS ACROSS BOTH DAYS

#IFM17

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CO- SPONSORS

Please contact the Center for Financial Professionals today to discuss how we can deliver your thought-leadership at the event, help you generate leads, and provide you with unique networking and branding opportunities. Below is an outline of what we can offer, but please contact sales@cefpro.com or call us on +44 (0)20 7164 6582 where a member of the team will be happy to tailor the right package for you.• Deliver a thought-leadership presentation, either as a stand-alone or alongside an existing presenter/ practitioner.• Enjoy a physical presence at the event, in the form of an exhibition stand.• Directly deliver white papers, reports, promotional material small gifts and other any other items of thought-leadership you may have.• Breakfast Briefing; A very exclusive and bespoke opportunity to put forward a thought-leadership presentation, or case study.• Branding and awareness throughout our marketing campaigns and during the events• Opportunity to sponsor the Risk Insights website, newsletter, magazine, and event app.

FE is the UK’s leading investment ratings and research agency. We sit at the heart of the fund management industry, serving asset managers, life & pension providers, financial advisers and platforms through the provision of data, software and investment

advice. Founded in 1996, we believe that availability of clean, reliable and timely data is the key to helping the industry, and investors, make more informed investment decisions. Our goal is to help financial companies unlock the potential in their data, add value to their investment propositions and connect with their clients by providing comprehensive, high quality, independent fund information.

Funds-Axis is a Regulatory Technology (RegTECH) company, with a unique combination of regulatory expertise and best of breed technology. Our focus is on the challenges facing global investment managers in the areas of investment compliance, risk and regulatory reporting. Our clients are leading asset managers, fund administrators and depositary banks in the U.K., Europe and North America. Our

technology solutions support clients to comply with UCITS and 1940 Act regulations, AIFMD and Form PF reporting requirements, and shareholder disclosures. The solutions can be implemented quickly and cost effectively due to our data integrations with 20+ Fund Administrators, Custodians and Prime Brokers, cloud based hosting and fully managed outsourced service.

State Street Corporation (NYSE: STT) is one of the world’s leading providers of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $29 trillion in assets under custody and

administration and $2 trillion* in assets under management as of September 30, 2016, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia.

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KEYNOTE SPEAKERS

www.cefpro.com/ifm | info@cefpro.com | +44 (0) 207 164 6582

Thomas Albert Chief Executive Officer, Oppenheim Asset ManagementThomas Albert has joined Oppenheim Asset Management on September 1, 2011 as Managing Director. In 2014 he became the CEO.

He is in charge of the expansion strategy of the White Label business globally and the development of growth oportunities with external clients as well as within Deutsche Bank’s Asset & Wealth Management division.

Prior he has worked as a Managing Drector at Credit Suisse Asset Management as Head of Retail Distribution in charge of Europe (ex Switzerland and Italy) and Latin America and as a member of the Operating Committee for Germany and Central Europe.

Philip Best Chief Risk Officer Barclays Wealth and Investment ManagementPhilip is Wealth CRO for Barclays. He joined Barclays in June 2015

Philip worked in the financial markets since 1985 and has held a number of positions in risk management. Prior to joining Barclays he was Chief Risk Officer for Columbia Threadneedle and prior to which he Head of Risk at Tokai London. Philip published one of the first books on VAR: Implementing Value at Risk, Wiley, 1998.

Robert Baur Chief Global Economist Principal Global InvestorsBob joined The Principal in 1995 and is now the managing director and chief global economist for Principal Global Investors, and is a vice president for the Principal Financial Group®.

In these capacities, he establishes and directs global economic policy and strategy, oversees and conducts macroeconomic and quantitative research, forecasts economic trends and anticipates market movements, and advises the investment staff in making economically sound investment decisions. Bob also directs macro-economic research for Principal Portfolio Strategies, an asset allocation boutique of Principal Global Investors.

Chrystelle Charles-Barral Head of Risk, Neuberger Berman EMEAChrystelle Charles-Barral, FRM, Senior Vice President, joined the firm in 2005. Chrystelle currently heads the European and Asia Portfolio Analysis & Risk team based in London. Prior to her current role, she managed the Equity Analysis & Risk team (2007-2011) and prior to that she built up the European manager selection platform based in London before transferring in 2007 to New York. Previously, she spent six years at Fortis Investment Management (Luxembourg) as a fund of funds analyst and manager. Chrystelle received a Master’s Degree in Business and Finance from Reims Management School (France). She has been awarded the Financial Risk Management designation.

Andrew Crain MD, Global Head, Regulatory Engagement and Development, BlackRock Andrew Crain, Managing Director, Global Head - Regulatory Engagement and Development, a member of the firms’ Legal and Compliance Senior Leadership and the EMEA Operating and Enterprise Risk Management Committees. Mr Crain’s team is responsible for maintaining positive and constructive relationships with regulators around the globe and identifying, assessing and communicating the implications and requirements of regulatory change within BlackRock.

Mr Crain joined BlackRock in 2011 as Head of International Compliance and was responsible for a major restructuring of the Compliance function. During his tenure he has also served on various risk, controls and project delivery Committees. Prior to joining Blackrock, Mr Crain was with the UK Financial Services Authority with responsibility for the regulatory oversight of Independent and Alternative investment managers.

Neil Donnelly Global Head of Compliance, Pioneer InvestmentsNeil Donnelly was appointed Global Head of Compliance at Pioneer Investments in June 2013. Formerly Neil was Global Co-ordinator for Legal & Compliance at Pioneer Global Asset Management S.p.A. and from 2002 until 2010 Neil was Head of Legal & Compliance with Pioneer Alternative Investments. Prior to joining Pioneer Investments in 2002, Neil was Company Lawyer with Baring Asset Management in London. Prior to this he worked, from 1997 to 2000, for International Law Firm Norton Rose in London and from 1994 to 1997 as a tax adviser with KPMG in Dublin. Neil studied law and holds a BCL Degree from University College Dublin. Following this he studied at Kings Inns in Dublin, obtaining a Barrister at law degree and was called to the Irish Bar in 1994. Neil was a member of the European Commission’s Expert Group on Alternative Investments in 2006 and the Commission’s Working Group on Private Placement of Investment Funds in 2008.

Cora Gibbons Global Head of Product Development, Barings Cora is responsible for Baring’s product development globally. Cora has a depth of technical experience in product management, product development and strategy particularly in Europe and Asia and joined Barings as Head of Product Development in February 2013. Prior to joining Barings, Cora worked in senior Product Strategy and Development roles with several large global asset managers including Invesco and Allianz Global Investors in Frankfurt. Cora began her career in asset management with Bank of Ireland Asset Management where she worked in business development and client services, in Dublin and Frankfurt, followed by Consultant Relations Management at Fortis Investments in Paris. Cora graduated in Law and German from Trinity College Dublin and achieved an Executive MBA from ESSEC and Mannheim Business School.and results for a broader view.

Charles Goodman CEO, Edmond de Rothschild Asset Management UKCharles Goodman has been the CEO of Edmond de Rothschild Asset Management (UK) since 2012. He joined the Edmond de Rothschild Group in 1994, initially as an international bond fund manager, then as a relationship manager specialising in advising pension funds and other institutional investors on risk management issues, and most recently as Head of Institutional Sales in the Geneva office. Prior to that, he was an account executive in Geneva and Chicago for the FFM Group, a Swiss fund manager and derivatives specialist. Charles is a graduate of the University of Pennsylvania.

Stéphane Janin Head of Global Regulatory Development, AXA Investment ManagersStephane was previously Head of the International Affairs division at the AFG, the French Asset Management Association, responsible for international regulatory strategy and promotion.

Prior to that, Stéphane was Advisor to the Managing Director, in charge of Strategy and Risks, at the Autorité des Marchés Financiers (AMF).

At EU level, Stéphane was a Seconded National Expert at the European Commission from 2000 to 2004, and is currently chairing the EFAMA Working Group on European Long Term Investment Funds (ELTIFs) as well as the ICMA Asset Management and Investor Council Working Group on fund liquidity.

At international level, Stéphane is a member of the stakeholders’ panel of the International Organization of Securities Commissions (IOSCO). He was a Member of the Board at the International Investment Funds Association (IIFA) from 2012 to 2014.

Furio Pietribiasi Chief Executive Officer, Mediolanum Asset ManagementFurio Pietribiasi has circa 20 year experience in the industry and he has been in Ireland with Mediolanum since late 1998, covering a number of roles, including Head of Investments, Head of product development in Europe and General Manager. Since 2008 he has been responsible for all Mediolanum asset management, funds and life insurance operations in Ireland and Luxembourg. He started his career in investment management in Mediolanum Gestione Fondi in Milan and prior to that he worked in one of the leading legal and fiscal practice in Italy. Furio holds a MSc in Finance and Economics. Furio’s commitment to innovation and new technologies goes beyond his job with Mediolanum. In fact he has been among the judges of Fintech accelerators. From 2016 Furio is also chairing the Fintech taskforce group of IBEC in Ireland.

Robert Taylor Head of Investment Management, Financial Conduct AuthorityRob Taylor is the Head of Investment Management Department at the Financial Conduct Authority. He has also worked in venture capital and is former chief executive of Kleinwort Benson Bank, the London-based merchant and private-client banking group. He is currently Chair of the University for Creative Arts in Kent and Surrey, Chair of the Whitechapel Gallery and a non-executive director of Trumans Brewery and of the East London NHS Foundation Trust.

He began his career working in American politics and as a financial journalist in New York. He is a public speaker at financial services conferences and is an outspoken supporter of LGBT career opportunities in the City as well.

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INTERNATIONAL FUND MANAGEMENT | 8-9 MARCH 2017 | LONDON

#IFM17

Thomas Albert Robert Baur Philip Best Chrystelle Charles-Barral Andrew Crain Neil Donnelly Cora Gibbons Charles Goodman Stéphane Janin Furio Pietribiasi Robert Taylor

SPEAKERS AT INTERNATIONAL FUND MANAGEMENT

www.cefpro.com/ifm | info@cefpro.com | +44 (0) 207 164 6582

KEYNOTE SESSIONSFROM CEOs, CROs AND FCAThomas Albert Chief Risk Officer Barclays Wealth and Investment Management Ugo Bassi Director, European Commission, DG FISMA (Financial Services DG)Robert Baur Chief Global Economist Principal Global InvestorsPhilip Best Chief Risk Officer Barclays Wealth and Investment ManagementChrystelle Charles-Barral Head of Risk Neuberger Berman EMEACharles Goodman Chief Risk Officer Edmond de Rothschild Asset Management UKStéphane Janin Head of Global Regulatory Development AXA Investment ManagersFurio Pietribiasi Chief Executive Officer Mediolanum Asset ManagementRobert Taylor Head of Investment Management Financial Conduct Authority

STREAM ONEREGULATORY CHANGE & BUSINESS IMPACTSThomas Albert, Chief Risk Officer Barclays Wealth and Investment Management Kyra Brown Senior Regulatory Change – MiFID II and EMIR Specialist Standard Life InvestmentsGhislaine Couvillat Head of Regulatory Oversight Legal & General Investment ManagementAndrew Crain Managing Director, Global Head, Regulatory Engagement and Development BlackRockGail le Coz Head of Regulatory Development M&GVanessa Field Director, Head of Compliance Principal Global Investors (Europe) Ltd Dan Hedley Public Policy Director Fidelity InternationalStéphane Janin Head of Global Regulatory Development AXA Investment ManagersElinor Murray Head of Investment Management Compliance Henderson Global InvestorsWesley Sawkins Head of UK Central Compliance Aviva InvestorsVikramaaditya Global Head of Business & Regulatory Programmes HSBC Global Asset Management

STREAM TWO LIQUIDITY RISK MEASUREMENT & MANAGEMENTJulian Cuisinier Head of Investment Analytics Henderson Global Investors Robert Baur Chief Global Economist Principal Global InvestorsChrystelle Charles-Barral MD, Head of Risk Neuberger Berman EMEAStefano Amato Portfolio Manager JP Morgan Asset Management (tbc) Jan Grunow Executive Director, Head of Risk, Operations and Controlling Swiss Life Asset ManagersMark Cernicky Managing Director, Global Portfolio Management Principal Global InvestorsAnne Lanc Director, International Treasury BlackRockLu Li Head of Investment Risk – Illiquid Assets Aviva InvestorsElinor Murray Head of Investment Management Compliance Fidelity Worldwide InvestmentAntonello Russo Director, Risk and Quantitative Analysis BlackRock

STREAM THREEPRODUCT INNOVATION & CLIENT SOLUTIONS Marco Corsi Director, BlackrockChris Dawe Product Manager Schroder GAIACora Gibbons Global Head of Product Development BaringsJean-Francois Hautemulle Head of Product Strategy, EMEA JP Morgan Asset ManagementAndrew Parry Head of Equities Hermes Investment ManagementChristian Pittard Group Head of Product Opportunities Aberdeen Asset ManagementDaniel Philipson EVP, Head of Product Management PIMCOAdam Smears Head of Fixed Income Research Russell Investments Nick Smith Head of Wholesale Distribution, EMEA UBS Asset ManagementJohn O’Toole Head of Multi-Asset Portfolio Management Pioneer Investments

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INTERNATIONAL FUND MANAGEMENT | 8-9 MARCH 2017 | LONDON

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We love the Center for Financial Professionals because they bring together a community of like-minded professionals at very senior levels covering both risk and finance Oracle Financial Services

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STREAM TWO - LIQUIDITY RISK MEASUREMENT AND MANAGEMENT

PANEL DISCUSSION 11.30 Assessing the detrimental impact of market events on fund structures and underlying assets and a look towards the future • Effects of BREXIT as a trigger: Funds inability to facilitate liquidity requirements • Reviewing fund structure under stress • Fair competition for certain products • Market volatility effect on structure Elinor Murray, Head of Investment Management Compliance, Henderson Global InvestorsLu Li, Head of Investment Risk – Illiquid Assets, Aviva InvestorsMark Cernicky, Managing Director, Global Portfolio Management, Principal Global Investors

STREAM ONE - REGULATORY CHANGE AND BUSINESS IMPACT

PANEL DISCUSSION - REGULATORY LANDSCAPE 11.30 Reviewing the broader regulatory landscape for better management, understanding and compliance • Keeping track of developments • Reviewing changes at an early stage • Analysing effect on business • Implementation plan • Impact of wider regulatory changes on clients • Global rules on distribution Vikramaaditya, Global Head of Business & Regulatory Programmes, HSBC Global Asset Management Vanessa Field, Director, Head of Compliance, Principal Global Investors Stéphane Janin, Head of Global Regulatory Development, AXA Investment Managers Neil Donnelly, Global Head of Compliance, Pioneer Investments

STREAM THREE- PRODUCT INNOVATION AND CLIENT SOLUTIONS

PANEL DISCUSSION - ACTIVE VERSUS PASSIVE 11.30 The industry debate: Blurring the lines of active vs. passive and operating under breakout delineations • Impact on new product design • Navigating through the different options • Case studies and examples • How investors look at options • How fund houses respond • Escaping capabilities • Co-habitation of active vs passive Christian Pittard, Group Head of Product Opportunities, Aberdeen Asset Management Andrew Parry, Head of Equities, Hermes Investment Management Marco Corsi, Director, BlackRock

KEYNOTE PANEL DISCUSSION 9.00 Reviewing the impact of market volatility and events for efficient running of the business and understanding implications on future business decisions

• BREXIT • Effect on conducting business • Effect on UK fund manager’s operation across Europe • Anticipating future cash flows and revenues • Effect on buy-side • Operating under low to negative interest rates • Overcoming interest rate divergence between regions • Impact on financial markets and risk management

Philip Best, Chief Risk Officer, Barclays Wealth and Investment ManagementCharles Goodman, CEO, Edmond de Rothschild Asset Management UKChrystelle Charles-Barral, Head of Risk, Neuberger Berman EMEARobert Baur, Chief Global Economist, Principal Global Investors

KEYNOTE ADDRESS 9.50 Systemic Risk and Asset Management industry: current and forthcoming regulatory developments

• Political and regulatory levels: potential constraints ahead • FSB and IOSCO focus on non-bank systemic risk • Macroprudential policy • Siloed vs holistic regulatory approach• Following market activitiesStéphane Janin, Head of Global Regulatory Development, AXA Investment ManagersFCA KEYNOTE ADDRESS 10.25 A regulator’s perspective: Fund management • An industry overview • What is next • Mapping changes and preparing for the futureRobert Taylor, Head of Investment Management, Financial Conduct Authority

AGENDA | DAY ONE | 8 MARCH

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INTERNATIONAL FUND MANAGEMENT | 8-9 MARCH 2017 | LONDON

11.00 MORNING BREAK & NETWORKING

7.30 REGISTRATION & MORNING COFFEE

8.50 CHAIR’S OPENING REMARKS

#IFM17

AGENDA | DAY ONE | 8 MARCH

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INTERNATIONAL FUND MANAGEMENT | 8-9 MARCH 2017 | LONDON

14.00 Effective collateral management and assessing the impact on pricing and accessibility • Lack of liquidity after investment • Counterparty limitation accepting non cash collateral • Posting collateral in right format • Decreasing banks balance sheets • Posting cash in various margins • Collateral transformation

14.40 Reviewing broader regulation of corporate liquidity of the fund management industry: Crossover with banking regulation • Creative tension across client money rules, regulation and corporate liquidity • Appropriateness for fund industry • Progress on consideration for approach • Treatment of high quality liquid assets • Differences across larger resourced organisations: systemic risk Anne Lanc, Director, International Treasury, BlackRock

STREAM TWO - LIQUIDITY RISK MEASUREMENT AND MANAGEMENT

MEASURING LIQUIDITY 12.20 Understanding methods to measure liquidity to better determine degree of liquidity in portfolios • Delivering risk in P&L • Measuring liquidity in multi-asset class portfolio • Unit of measurement: Equity, fixed income etc. • Calculating measures without observable data: Modelling and capturing third party data • Lack of data within fixed income • OTC: No market data for these instruments • Working around lack of data

Julian Cuisinier, Head of Investment Analytics, Henderson Global Investors

MiFID II 14.00 Understanding the breadth of change within MiFID II and assessing the overall impact on business activity in Europe and other jurisdictions • Lack of clarity of rules: Implementing all under national law • Capacity of market participants, regulators and national authorities • Assumption aligned with PRIIPS • Effect on profitability • Compliance: Record keeping, execution, reporting and transparency Gail le Coz, Head of Regulatory Development, M&G

14.40 Reviewing the changing relationship between fund managers and investors as a result of upcoming regulations • Impact on relationship with distributors and end clients • Need for parts of the chain to work closer together • Changing service expectation that firms have • Institutional perspective: More involved relationship with clients

Vanessa Field, Director, Head of Compliance, Principal Global Investors (Europe) Ltd

STREAM ONE - REGULATORY CHANGE AND BUSINESS IMPACT

REGULATORY REPORTING 12.20 Meeting the ever increasing challenges of risk and regulatory reporting • The regulatory reporting landscape for asset managers • The increasing cost of compliance • How are Regulators making use of all this data • Operational challenges – data aggregation, data quality and calculation challenges • How Managers and Administrators are responding to the challenges faced • Business benefits from streamlined risk and regulatory reporting • RegTech - What role new technologies will play in the asset management industry over the next 10 years

Darren Burrows, Managing Director, Funds-Axis

14.00 Assessing the recent growth in Exchange Traded Funds (ETF) and passive investing as an alternative to active fund management • Growth in ETF and passive investing • Investors using ETF for market exposure or index exposure • Where does it end • How do fund managers respond • Moving from active fund management to ETF • Market share erosion

Axel Lomholt, Head of Product, International, Vanguard

14.40 Delivering alpha to clients in volatile market conditions and balancing quality, value and growth • Type of alpha delivered • Idiosyncratic alpha • Pre defined quality vs pre defined growth • Value of alpha in low return environment

Andrew Parry, Head of Equities, Hermes Investment Management

STREAM THREE - PRODUCT INNOVATION AND CLIENT SOLUTIONS

12.20 An overview of smart beta and ensuring client demands and expectations are met • Product innovation • Active equity managers competition with smart beta • Manufacturing at single digit basis points • Delivering promises to clients Marco Corsi, Director, BlackRock

13.00 LUNCH BREAK & NETWORKING

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AGENDA | DAY ONE | 8 MARCH

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INTERNATIONAL FUND MANAGEMENT | 8-9 MARCH 2017 | LONDON

STREAM TWO - LIQUIDITY RISK MEASUREMENT AND MANAGEMENT

15.50 Effective management of fund portfolios and concentration to mitigate the risk of capital returns • Concentration risk management • Change in institutional client investment trends • Anticipating liquidity constraints in certain asset classes • Customised vehicles as a management approach • Governance

Stefano Amato, Portfolio Manager, JP Morgan Asset Management (tbc)

16.30 Assessment and management of investment risks for illiquid assets • Investors’ expectations on portfolio liquidity • How to assess and monitor investment risks for illiquid assets • Building an effective investment risk framework for your portfolio • Regulatory requirements and challenges ahead

Lu Li, Head of Investment Risk – Illiquid Assets, Aviva Investors

STREAM ONE - REGULATORY CHANGE AND BUSINESS IMPACT

15.50 Reviewing the requirements for investor protection & product criteria to distributors under MiFID II • Cost disclosure and what this means for investors • Systemised and standardized data inputs • Including performance risk and quality of service • Implications of selling outside target markets • Identifying useful information without overwhelming • Product governance Kyra Brown, Senior Regulatory Change – MiFID II and EMIR Specialist, Standard Life Investments

EXECUTION RISK 16.30 Executing risk: Ensuring sufficient resources to action regulatory changes with minimal disruption and cost • Changes to business model • Cost of doing business • Making money when costs rise • Ensuring compliance • Restrictions on certain business areas • Opportunities

Andrew Crain, Managing Director, Global Head, Regulatory Engagement and Development, BlackRock

STREAM THREE - PRODUCT INNOVATION AND CLIENT SOLUTIONS15.50 Scenario review: Understanding the impact of a repeat in both negative equity and bond returns on clients • Cash alternatives to protect portfolios • Reviewing products not affected by decrease • Historical outcome and future impacts

Daniel Philipson, EVP, Head of Product Management, PIMCO

16.30 Defining a Product Strategy in the industry today • Client requirements, regulatory demands, market environment challenges • Fostering a culture of innovation, new idea generation • A look to other industries • Key hurdles to innovation and product development • Owning the Product Lifecycle – focus on rationalisation • Target market identification and client testing

Cora Gibbons, Global Head of Product Development, Barings

15.20 AFTERNOON REFRESHMENT BREAK & NETWORKING

17.10 CHAIR’S CLOSING REMARKS

17.15 END OF DAY ONE & EVENING COCKTAIL DRINKS RECEPTION

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STREAM TWO - LIQUIDITY RISK MEASUREMENT AND MANAGEMENTPANEL DISCUSSION - MARKET CONDITIONS 11.20 Reviewing market conditions and potential structural imbalances in a volatile environment • Effect of negative interest rates on liquidity • Bond markets • Reinvesting funds in equities from bonds • Underlying liquidity in markets • Managing liquidity assets in different market conditions

Mark Cernicky, Managing Director, Global Portfolio Management, Principal Global Investors Julian Cuisinier, Head of Investment Analytics, Henderson Global Investors

STREAM ONE - REGULATORY CHANGE AND BUSINESS IMPACT

PANEL DISCUSSION - UNINTENDED CONSEQUENCES 11.20 Discussing the potential unintended consequences of regulation in the fund management industry and the impact on clients returns • Short term cash on the balance sheet • Impact on leverage and credit worthiness • Assessment of capital under Basel III • Cash off balance sheet: impact on cash flow around the system • Measures of interbank lending • Changes in money market funds • Distortion on bond and treasury markets

Andrew Crain, Managing Director, Global Head, Regulatory Engagement and Development, BlackRock Dan Hedley, Public Policy Director, Fidelity International Neil Donnelly, Global Head of Compliance, Pioneer Investments

STREAM THREE - PRODUCT INNOVATION AND CLIENT SOLUTIONSPANEL DISCUSSION - INVESTMENT ENVIRONMENT 11:20 Assessing the investment environment and product market in an uncertain climate of low interest rates and yields • Time horizon of assessment changes • High distortion after market fluctuations • Falling bond yields • Product market with yields beyond management fees • Investment environment • Low interest rate effect on client returns • Poor quality of liquidity

Christian Pittard, Group Head of Product Opportunities, Aberdeen Asset Management Nick Smith, Head of Wholesale Distribution, EMEA, UBS Asset Management John O’Toole, Head of Multi-Asset Portfolio Management, Pioneer Investments

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INTERNATIONAL FUND MANAGEMENT | 8-9 MARCH 2017 | LONDON

KEYNOTE ADDRESS 9.00 Reviewing the increasing globalisation of the industry and leveraging resources and opportunities across regions and regulators • Best practice globally • Leveraging across regions • Managing investors • Regulatory differencesThomas Albert, Chief Executive Officer, Oppenheim Asset Management

KEYNOTE PANEL DISCUSSION 9.40 Technology and data: Gaining competitive advantage in an increasing technologically driven era • Investment requirements to stay up to date • Managing customer expectations • FINTECH: threats and opportunities • Regulatory requirements • Same day, instant settlement and pricing • Data constraintsFurio Pietribiasi, Chief Executive Officer, Mediolanum Asset Management

EUROPEAN COMMISSION KEYNOTE ADDRESS 10.20 Overview of regulatory developments at European Level • Capital Markets Union – where we are • Regulatory developments relevant for asset managers • MIFID implementation • Money Markets Funds Regulation • PRIIPs • Work on facilitate cross-border fund business • Upcoming reviews on AIFMD and UCITS • Next stepsUgo Bassi, Director, European Commission, DG FISMA (Financial Services DG)

10.50 MORNING BREAK & NETWORKING

8.00 REGISTRATION & MORNING COFFEE | 8 .50 CHAIR’S OPENING REMARKS

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AGENDA | DAY TWO | 9 MARCH

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13:50 Assessing the principles for establishing a liquidity oversight and policy • Core principles • Impact from regulations: SEC, AIFM • Samples of solutions • Open ended funds

Chrystelle Charles-Barral, Head of Risk, Neuberger Berman EMEA

14:30 Assessing central clearing and asset segregation models and their adequacy for the fund management industry • Access to central clearing • Dependency on banks acting as potential clearing brokers • Direct clearing models • Collateral requirements and processes

Jan Grunow, Executive Director, Head of Risk, Operations and Controlling, Swiss Life Asset Managers

PRIIPS – DOUBLE SESSION 13.50 Assessing the application of PRIIPS implementation and gaining clarity on requirements: Policy and practicalities • Implementation timelines • Clarity on requirements • Calculation layout • Granularity of information required • Sheer scale of change • Data transmission • A look at 2019 and beyond

Dan Hedley, Public Policy Director, Fidelity InternationalMikkel Bates, Regulatory Consultant, FE Kii Hub

MULTI ASSET INVESTING 13:50 The future of multi asset investing and understanding the potential benefits of diversification • Types of multi assets investing • Short or long term trend/longevity • Asset solutions for clients • Traditional balance funds • Selling funds to end clients

John O’Toole, Head of Multi-Asset Portfolio Management, Pioneer Investments

ALTERNATIVE INVESTMENT 14:30 Incorporating alternative investment products into portfolios to diversify product offerings • New areas of research and products • Traditional hedge funds vs liquid alternatives • High inflows of liquid alternatives • Performance • Suitability for corporate and institutional investors • Long term results • Future regulatory developments

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INTERNATIONAL FUND MANAGEMENT | 8-9 MARCH 2017 | LONDON

STREAM TWO- LIQUIDITY RISK MEASUREMENT AND MANAGEMENTSTRESS TESTING 12.10 Incorporating a level of liquidity in stress testing for a broader overview of cash flow beyond P&L • Stressing liquidity not just expected loss and P&L • Assessing impact of limited liquidity on funds • Forecasting from investment perspective • Modelling challenges around capital flows • Obtaining data

Antonello Russo, Director, Risk and Quantitative Analysis, BlackRock

STREAM ONE - REGULATORY CHANGE AND BUSINESS IMPACT

CONDUCT RISK 12:10 Embedding conduct risk into the first line of defence within asset management companies • Demonstrating first line of defence has its own controls • Business culture • Controls in place • Appropriate conduct

Wesley Sawkins, Head of UK Central Compliance, Aviva Investors

STREAM THREE - PRODUCT INNOVATION AND CLIENT SOLUTIONS

12.10 Investing in an uncertain environment of low yields and high risks • The role of unconstrained fixed income • Credit: An under-utilised risk premium • The importance of an unconstrained approach • The sweet spot in credit markets • Diversifying credit risk • Investing opportunistically to drive returns

Adam Smears, Head of Fixed Income Research, Russell Investments

12.50 LUNCH BREAK & NETWORKING

15.20 AFTERNOON REFRESHMENT BREAK & NETWORKING

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STREAM TWO - LIQUIDITY RISK MEASUREMENT AND MANAGEMENT

15:40 Understanding the impact of the changing U.S. and global economic environment on liquidity and returns in asset markets • How has today’s economic environment come about? • Bumping against economic constraints? • Central bank policy in a changing world • Liquidity and returns in asset markets

Robert Baur, Chief Global Economist, Principal Global Investors

SELL SIDE 16:20 Evaluating the impact of sell side regulation on liquidity management in the fund industry • Direct impact on fund managers • Basel III and CRD IV requirements • Counterparties management of balance sheets • Impact on fund managers and how they trade

STREAM ONE - REGULATORY CHANGE AND BUSINESS IMPACTEXTENDED SESSION 15:40 Effective communications and surveillance: Sound behavioural analytics to ensure compliance • Market abuse • Regulatory expectations • Lexicons vs behavioural analytics • Effective surveillance techniques • Establishing patterns and effective management

Elinor Murray, Head of Investment Management Compliance, Henderson Global Investors Ghislaine Couvillat, Head of Regulatory Oversight, Legal & General Investment Management

EXTENDED SESSION CONTINUED… 16:20 Effective communications and surveillance: Sound behavioural analytics to ensure compliance • Market abuse • Regulatory expectations • Lexicons vs behavioural analytics • Effective surveillance techniques • Establishing patterns and effective management

Elinor Murray, Head of Investment Management Compliance, Henderson Global Investors Ghislaine Couvillat, Head of Regulatory Oversight, Legal & General Investment Management

STREAM THREE - PRODUCT INNOVATION AND CLIENT SOLUTIONS15:40 The importance of liquid alternatives in a portfolio context • Global hedge fund landscape • Demand for alternatives • Reasons for allocating • Common misconceptions • Diversification benefits • UCITS vs offshore

Chris Dawe, Product Manager, Schroder GAIA

16:20 Industry overview of creative products for investors to ensure an attractive mix for clients • Reviewing asset classes • Solutions for institutional clients • Considerations in current environment • Increased use of derivatives

Jean-Francois Hautemulle, Head of Product Strategy, EMEA, JP Morgan Asset Management

AGENDA | DAY TWO | 9 MARCH

INTERNATIONAL FUND MANAGEMENT | 8-9 MARCH 2017 | LONDON

17.40 CHAIR’S CLOSING REMARKS & END OF INTERNATIONAL FUND MANAGEMENT 2017

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Great range of coverage of areas of financial services industry risk, perspectives of many types not necessarily expected. Quantitative Analyst, Federal Home Loan Bank

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RISK INSIGHTS APP Stay up to date on the latest news, views, articles and Q&As from presenters at International Fund Management 2017 by downloading the Risk Insights App. Search ‘Risk Insights’ on your relevant app store today. The Risk Insights App will also be used to interact with attandees and presneers at the event.

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INTERNATIONAL FUND MANAGEMENT | 8-9 MARCH 2017 | LONDON

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