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NovEMbEr 2 & 3, 2011 | ThE NEW York AThLETIC CLub | NEW York

AR SympoSium 2011


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New york's premier hedge fund event

The Ar symposium will address the best strategies and opportunities to maintain strong performance and grow your business at a time of global uncertainty.

Network with more than 350 delegates ­ allowing you to be better known, better equipped and better connected.

KEyNOtE spEaKErs

EmmaNuEL rOmaN mItCh JuLIs

Chief operating officer of man Co-founder of Canyon partners

NassIm taLEB

scientific advisor for universa Investments

KEy tOpICs

Investors: What do they want and how do they want it? Credit: Can investors make money when rates are near zero? Are countries in Asia, Latin America and the Middle East poised to break out? Is it finally time for macro managers to shine? What does new regulation mean for hedge funds and how do they adapt their business models?

see inside for the full program and find out who is speaking.

Sponsored by:

BOOK ONLINE at or call +1

212 224 3570

Why attend

Highlights of the AR Symposium 2011

The AR Symposium will address the issues facing the hedge fund industry as economic uncertainty continues.

Should you invest in gold or are bank stocks a better bargain? How can credit investors profit when rates are near zero? Which strategies are institutional investors avoiding? What's one of Kyle Bass's best non-macro investments? A combination of panel debates, keynote speeches and a series of rapid-fire best ideas presentations will seek to answer these questions and many others at the AR Symposium, New York's premier hedge fund event. Now in its 8th year, the AR Symposium attracts a high-quality crowd of more than 350 senior delegates from the international hedge fund community for two days of intensive and high-level discussion and networking. With global markets proving tougher than ever to navigate, and with managers facing an uncertain future, the AR Symposium will bring together leading managers and investors to address the key issues facing hedge funds at a time of intense challenges and far-reaching change. We look forward to seeing you in New York in November.

Michelle Celarier editor, AR Magazine

Don't miss our keynote speakers

Mitch Julis

Canyon Partners

Mitch Julis is co-founder, co-chairman and co-CEO of Canyon Partners, a global alternative asset management firm specializing in credit-oriented investments. Canyon, headquartered in Los Angeles, manages approximately $20 billion in assets. Prior to forming Canyon, Mitch was responsible for distressed and special situation securities at Drexel Burnham Lambert. Mitch will be speaking on Day one at 11:15. Mitch will address "Investing in a complex world" ­ In a world financial system marked by feedback loops, time delays, non-linearities and disruptions, what must a multi-strategy value investor do to preserve and compound capital? Answer: Staying power must be combined with earnings power to generate returns over time.

Nassim Taleb

Universa Investments

Nassim Taleb is the distinguished scientific advisor for Universa Investments and is considered the premier specialist of rare events (`black swans'). He has advised heads of states, top financial institutions and various central banks on tail risks. Nassim is the author of Fooled by Randomness, The Black Swan and The Bed of Procrustes: Philosophical & Practical Aphorisms, which have been translated into over 32 languages. Currently, Nassim is a Distinguished Professor of Risk Engineering at New York University Polytechnic Institute. Nassim will be speaking on Day one at 2:00. One of the country's foremost commentators on risk, Nassim's keynote speech is entitled, "Fragility: What should we do?".

AR Symposium 2011 | November 2 & 3, 2011 | The New York Athletic Club | New York

Interested in sponsoring or exhibiting?

Contact: Sumehr Sondhi Tel: +1 212 224 3275 | Email: [email protected]

Key questions that will be addressed include:

· Investors: What do they want and how do they want it? · Credit: Can investors make money when rates are near zero? · Are countries in Asia, Latin America and the Middle East poised to break out? · Is it finally time for macro managers to shine? · What are the challenges of running a business and preserving capital in today's uncertain markets? · Are managed futures still the best bet for diversification and returns? Turn to page 4 to view the full program. The Ar symposium provides a variety of networking opportunities. With more than 350 delegates expected to attend, the scheduled breaks, lunches and cocktail reception will give you ample opportunity to meet your peers, discuss issues raised during the sessions and make new business contacts.

Don't miss

Exclusive cocktail reception

Wednesday, November 2 from 6:15

All registered delegates are invited to the AR Symposium cocktail reception which will take place in the New York Athletic Club Card Room after the conference on Day one.

Emmanuel Roman


Emmanuel Roman is COO of Man, a group-wide role with prime responsibility for integrating the GLG acquisition. He is also the key link between the sales, investment, product development and operational sides of the combined business. He joined the board of Man in May 2011. Emmanuel previously worked at Goldman Sachs International Limited, which he joined in 1987. Over the years he worked in the fixed income, investment banking and capital markets areas and in 1991 became the co-head of worldwide equity derivatives. In 1996 he became a managing director of Goldman Sachs International Limited and in 1998 he was elected to partnership. In 2001 he was appointed co-head of worldwide global securities services and in 2003 he also became co-head of the European equities division. Emmanuel will be speaking on Day two at 12:00. He will discuss the state of the hedge fund industry.


Day one: November 2, 2011

9:00 9:45 10:00

Doors open, registration and breakfast Introductory briefing View from the top: Hedge fund founders face the future

What are the challenges of running a business, maintaining strong performance and preserving capital in today's uncertain markets? How do firms attract and keep high-quality investors? The founders of several high-profile hedge fund firms will discuss the challenges and opportunities ahead. speakers: ·Ken Brody, Taconic Capital Advisors ·Renée Haugerud, Galtere ·Bruce Richards, Marathon Asset Management ·Brian Taylor, Pine River Capital Management

10:45 11:15 12:00

Coffee break Keynote speaker: Mitch Julis, Canyon Partners

Introduced by: Scott Carpenter, State Street.

Managed futures: Still the best bet for diversification and returns?

During the market crash of 2008, managed futures strategies were often the sole saving grace in investors' portfolios, and they haven't disappointed so far in 2011. Are they still a good bet? speakers: ·Tushar Chande, Rho Asset Management ·Jay Feuerstein, 2100 Xenon ·Roy Niederhoffer, R.F. Niederhoffer Capital Management ·Michael Turner, FRM Hedge Moderator: Keith Johnson, Newedge


Lunch Keynote speaker: Nassim Taleb, Universa Investments Session to be announced Coffee break

Visit for details.

Day one: Program

2:00 2:45 3:30

The program is provisional and subject to change. Please visit for complete details.

AR Symposium 2011 | November 2 & 3, 2011 | The New York Athletic Club | New York


Regulatory changes: What will be the effect on business models?

Following the financial crisis, a slew of new regulatory requirements will affect hedge funds, including Dodd-Frank, FATCA and many other international initiatives, such as the AIFM directive in Europe. A panel will discuss what all of this means in practice and how hedge funds need to adapt their business models. speakers: ·Darcy Bradbury, D.E. Shaw ·Jay Gould, Pillsbury Winthrop Shaw Pittman ·Susan Kim, FX Concepts ·Eric Vincent, Ospraie Management Moderator: Marina Lewin, BNY Mellon


Macro: The end of the world as we know it?

Between Europe's growing debt crisis, the unprecedented downgrade of the U.S.'s credit rating and the likelihood of a double-dip recession, investors could be forgiven for cashing out altogether and heading for their bunkers. Is the end of the world nigh or are we already there? Will this finally be the time for macro managers to shine? speakers: ·Mark Dow, Pharo Management ·Mary Goodman, James Caird Asset Management ·Karthik Sankaran, Covepoint Capital Advisors ·Sushil Wadhwani, Caxton Associates/Wadhwani Asset Management


Credit: Can investors make money when rates are near zero?

Day one: Program

Hedge funds that focus on investment-grade corporate, high-yield and distressed credit posted big gains post-crisis, but with U.S. Treasuries downgraded, can they continue in such an unpredictable market environment? Where does corporate credit stand in the current economic cycle? Will the Fed intervene in the markets once again, and what's the best way to play it? speakers: ·Don Bobbs, Stark Investments ·Tom Shandell, GoldenTree Asset Management ·Geoffrey Sherry, Lucidus Capital Partners ·Stephen Siderow, BlueMountain Capital Management


Cocktail reception

All delegates are invited to attend the AR Symposium cocktail reception.

Main sponsors

Associate sponsors


Day two: November 3, 2011

8:30 9:15

Breakfast Emerging markets: Are countries in Asia, Latin America and the Middle East poised to break out?

With developed markets under pressure for the foreseeable future, emerging and frontier economies are gaining investor attention. What are the potential risks and rewards? Where do managers at work in these markets see opportunity? speakers include: ·Alex Garrard, BTG Pactual Asset Management ·Adrian Landgrebe, Sagil Capital Moderator: Heather James, Federal Street


Investors: What do they want and how do they want it?

With more and more pension funds going direct into hedge funds and all types of investors demanding more from their managers in terms of infrastructure, transparency and costs, it's harder for managers to please them. A group of top investors will debate the best practices and strategies in an uncertain world. speakers include: ·Mustafa Jama, Morgan Stanley Alternative Investment Partners ·Josh Kaplan, CHIMCO ·Deirdre Ypma, APG Asset Management U.S.

10:45 11:15

Coffee break Commodities

Markets in major commodities such as oil and metals, as well as agricultural products, have continued to be on a rollercoaster ride in a risk-on, risk-off global economy. What are the best ways to play them in the short, medium and longer term? A panel of leading managers and investors in commodities discuss. speakers: TbA

12:00 12:45

Keynote speaker: Emmanuel Roman, Man Lunch Best ideas: Top managers give their picks

In this must-attend session, six talented fund managers will each make a case for one of the top investments in their portfolios and share their invaluable investment insights with Symposium attendees. speakers: ·Josh Fink, Enso Capital Management ·Matthew Lindenbaum, Basswood Capital Management ·Ross Margolies, Stelliam Investment Management ·Alex Roepers, Atlantic Investment Management ·Wes Swank, Hayman Capital Management ·Jamie Zimmerman, Litespeed Management

Day two: Program




AR Symposium 2011 | November 2 & 3, 2011 | The New York Athletic Club | New York


Who attends the AR Symposium

More than 350 top industry participants attend the AR Symposium each year. The breakdown of attendees last year was as follows:


Hedge funds


Other industry professionals



Below is a selection of the companies which attended last year:

INVESTORS 1199 SEIU Pension Fund Denver Employees Retirement Plan GE Asset Management (General Electric Motors) Hamren-Larsson Harvard Financial Analysts Club Interlaken Management Los Angeles City Employees' Retirement System Market Street Trust MetLife Investments New York State Common Retirement Fund Novartis Corporation Sawmill Trust The College of William and Mary Foundation The Fruchthandler Foundation The Goldman Family Foundation The Juilliard School The Whitman Foundation Tiedemann Trust Company UJA-Federation of New York Utah Retirement Systems Yale University FUNDS OF FUNDS Advanced Portfolio Management Banque Privée Edmond de Rothschild Bull and Bear Capital Cadogan Commonfund Convergent Wealth Advisors Focus Investment Group Lighthouse Investment Partners M Square Magnitude Capital Meridian Capital Partners Pacific Alternative Asset Management Company Palace Capital Management PMF Private Advisors Quest Trading Managers Ramius Alternative Solutions Sandalwood Securities Vision Asset Management Vision Investment Management Wells Fargo Alternative Asset Management HEDGE FUNDS Arrow Capital Management Atyant Capital AXA Rosenberg Barnegat Fund Management Basso Capital Management Basswood Capital Management Belenos Capital Management BlackRock Blue Ridge Capital Boston Provident Bradesco Asset Management Bresser Asset Management Bridgewater Associates Carlson Capital Copia Capital De Putron Fund Management DEX Capital Diamondback Capital Management Elliott Management Enso Capital Management Everest Capital Galtere Golden Tree Harch Capital Management Hayman Advisors Highbridge Capital Management Hill-Townsend Capital Hunter Global Investors Hylas Capital Management JANA Partners Lansdowne Partners Marathon Asset Management Millennium Management Mudrick Capital Management Sabretooth Capital Management Sandell Asset Management Serengeti Asset Management Shoreview Management Stelliam Investment Management Taconic Capital Advisors Temujin Fund Management Vulcan Capital York Capital Management


at the Ar symposium 2011

The Ar symposium is renowned for its top-level managers and investors. More than 50 leading industry figures will participate on panels and present keynote speeches. speakers confirmed so far include:

Jay feuerstein, CEo and Cio


Mitch Julis, co-founder, co-chairman and co-CEo

Deirdre Ypma, manager

karthik sankaran, managing principal and portfolio manager

Josh kaplan, senior director of hedged strategies

Darcy bradbury, managing director

Alex roepers, founder

Josh fink, CEo and Cio

Matthew Lindenbaum, portfolio manager and principal

heather James, principal and research manager

stephen siderow, co-founder and president

Michael Turner, head of quantitative research and analysis

Alex garrard, partner

susan kim, vice president, legal council and compliance director

Marina Lewin, managing director and global head of sales

renée haugerud, founder, chief investment officer and managing principal

AR Symposium 2011 | November 2 & 3, 2011 | The New York Athletic Club | New York

Tom shandell, founding partner

Wes swank, managing director ­ energy and natural resources

Jamie Zimmerman, founder, chief investment officer and portfolio manager

Mary goodman, managing director

geoffrey sherry, founding partner and co-Cio

Tushar Chande, co-founder and head of research

Emmanuel roman, chief operating officer

Adrian Landgrebe, founder, portfolio manager and CEo

bruce richards, president, CEo and co-founder

Don bobbs, senior portfolio manager

Mustafa Jama, head and chief investment officer

scott Carpenter, senior vice president, global head of client relationship management and strategy ken brody, co-founder and partner

keith Johnson, senior vice president, capital introduction

Eric vincent, president and chief operating officer

Nassim Taleb, distinguished scientific advisor

Mark Dow, portfolio manager

Wadhwani Asset Management LLP

sushil Wadhwani, founder and CEo

Jay gould, partner

Visit for further information on the speakers



brian Taylor, founding partner


roy Niederhoffer, president and founder


On the Day two of the Symposium, six managers will present their best ideas in equities, credit and other strategies, describing their trades in detail. This will provide an inside view of the thinking behind bets which you may not have considered and allow you to question managers about the decisions underpinning their trades.

Josh Fink, Enso Capital Management

Josh Fink is the CEO and chief investment officer of Enso Capital Management. Before founding Enso, he was a managing director at Argonaut Capital Management, where he operated as a portfolio manager and analyst. He has held positions at Tiger Investment Management and Morgan Stanley Asset Management. He is a regular participant in the World Economic Forum in Davos. Josh holds a B.A. from the University of Pennsylvania.

Matthew Lindenbaum, Basswood Capital Management

Matthew Lindenbaum is the portfolio manager and principal at Basswood Capital Management. For the past 20 years, Matthew has been managing family investments and the various Basswood funds, either individually or through Basswood Capital Management and its predecessor entity Basswood Partners. In 1986, Matthew joined the mortgage finance group at Merrill Lynch Capital Markets, where he structured derivative mortgages securities and helped advise banks on their financial strategies. In 1987, Matthew left Merrill to join SNL Securities, where he became a general partner.

Ross Margolies, Stelliam Investment Management

Ross Margolies is the founder/portfolio manager of Stelliam Investment Management. He manages a long-short equity hedge fund and long equity fund for Stelliam. In 2009, Stelliam was named Absolute Return's U.S. Equity Fund of the Year and for 2010 it was named a Barron's Top 100 hedge fund. Over his career, Ross has managed strategies including long-short equity, long equity, long convertibles, asset allocation and multi-strategy arbitrage.

Alex Roepers, Atlantic Investment Management

Alex Roepers founded Atlantic Investment Management in 1988 and has since grown it into a $1.8 billion value-oriented global equity hedge fund firm with offices in New York and Tokyo. The firm's flagship funds, Cambrian Fund with $675 million and the AJR Fund with $506 million, have respectively generated a 19.8% net compound annual return and 13.4% net compound annual return since their inceptions.

Wes Swank, Hayman Capital Management

Speakers include:

Wes Swank is managing director of energy and natural resources at Hayman Capital Management. Responsibilities include sourcing and analyzing investment opportunities across multiple asset classes within the broad natural resources sector. Hayman Capital Management is a Dallas-based investment manager founded by J. Kyle Bass in December 2005. Hayman Capital Master Fund provides investment advisory services to its proprietary global-event fund complex. Prior to joining Hayman Capital Management in March of 2008, Wes worked in the M&A group of Citi's investment bank.

Jamie Zimmerman, Litespeed Management

Jamie Zimmerman is the founder of Litespeed Management, where she serves as the chief investment officer and portfolio manager. Litespeed Management is investment manager to the Litespeed Master Fund, a fund with over 10 years' track record and over $1 billion in assets under management. The fund makes investments across the capital structure focusing on companies undergoing balance sheet events, including balance sheet restructurings, bankruptcies, recapitalizations, divestitures, exchange offers, spin-offs, liquidations and other business combinations, such as mergers, cash tender offers, and leveraged buyouts. Jamie founded Litespeed in October 2000.

AR Symposium 2011 | November 2 & 3, 2011 | The New York Athletic Club | New York

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NovEmbER 10, 2011

Mandarin oriental, New York

ar awards 2011 ­ final nominations

The AR Awards celebrate the best performing U.S. hedge funds based on risk-adjusted returns. More than 350 hedge funds, investors and industry professionals will come together at the most prestigious and accurate awards in the industry.

ARBITRAGE & CONVERTIBLES Glazer Capital Investcorp Silverback Arbitrage Fund Lazard Rathmore Symphony Rhapsody Fund Wolverine Convertible Arbitrage Fund CREDIT & HIGH YIELD Arrow High Yield BlackRock R3 Fund BlueMountain Credit Alternatives Brevan Howard Credit Catalysts Trilogy Financial Partners DISTRESSED Candlewood Special Situations Fund Cerberus International GCA Credit Opportunities Knighthead Master Fund Perella Weinberg Asset Based Value York Credit Opportunities Fund EMERGING MARKETS ARX Long Short FIM GAP Absoluto HG Green JGP Hedge Marathon Master Fund Moneda Latin American Debt EVENT DRIVEN ECF Value Fund JANA Partners Litespeed Partners Pentwater Event Fund Scoggin Capital Third Point Offshore FIXED INCOME & MORTGAGE BACKED BlackRock Fixed Income Global Alpha Fund Halcyon Offshore Asset-Backed Value Fund Pine River Fixed Income Fund Providence MBS SPM Directional Mortgage Prepay Master Fund SPM Structured Servicing Holdings GLOBAL EQUITY JAT Capital JoHo Fund Standard Pacific Capital Tiger Global Viking Global Equities III Wexford Catalyst GLOBAL MACRO Armored Wolf Alpha Bridgewater Pure Alpha Trading Covepoint Emerging Markets Macro Master Fund Galtere International Master Fund MKP Opportunity MANAGED FUTURES Campbell Global Assets Chesapeake Diversified QFS Currency Fund Renaissance Institutional Futures Fund Sunrise Capital Diversified MULTISTRATEGY Atlas Global Investments Millennium USA NWI Explorer Pine River Fund Platinum Partners Value Arbitrage SPM Core QUANTITATIVE EQUITY BlackRock 32 Capital Invesco US Market Neutral Renaissance Institutional Equities Fund SAC MultiQuant SPECIALIST EQUITY Act II Long/Short Fund Coatue Offshore Fund CCI Healthcare Partners Dorset Energy Harvest Small Cap Partners Seligman Health Spectrum Plus U.S. EQUITY Cambrian Hellman Jordan Private Investor Sandler Associates Sprott Capital Trian Partners NEW FUND OF THE YEAR Candlewood Structured Credit Copia Market Neutral Marathon Securitized Credit Pine River Liquid Mortgage Fund Whitebox Asymmetric Opportunities LONG-TERM PERFORMANCE (10 years) D.E. Shaw Composite King Street Capital Millennium International NWI Emerging Currency York Credit Opportunities Fund MANAGEMENT FIRM OF THE YEAR BlackRock Bridgewater Associates Pine River Capital York Capital Management FUND OF THE YEAR Nominees will be announced on the night

CAll +1 212 224 3275

for more information, please contact sumehr sondhi


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