IBC Global Conferences AIF & UCITS USA 2014latamalternatives.com/Files/FKW52696EMSPK.pdf · How to...

IBC Global Conferences

Investing business with knowledge

Organised by:

Eric NeisnerLEGG MASON

Max RijkenbergPAAMCO

Catherine VaughnHUTCHIN HILL CAPITALChristine WoodhouseTAYLOR INVESTMENT ADVISORS

Rhodri MasonHERMES

Steve BernatLEMANIK AM

C. Todd GibsonREED SMITH

Gerard de BenedettoAN ZHONG IM

Verena CharvetINVESCO

Ricardo KaufmannBTG PACTUAL

Felipe CousinoALESSANDRI & COMPANIA

Jonathan BloomEAGLE RIVER ASSET MANAGEMENT

Christophe GirondelNORDEA AM

Dianna RaedleDEER ISLE CAPITAL

Victor Hugo RodriguezLATAM ALTERNATIVES

Ben AllensworthMANAGED FUNDS ASSOCIATION

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December 13th 2013

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How to Distribute American UCITS & AIFMD Products and Increase Your Assets under Management within Europe, LatAm & Asia

USA 2014AIF & UCITS

Global Asset Raising & Distribution Options for US Managers• UCITS IV, V, VI • International UCITS & AIFs sales trends

• Alternative UCITS• Distributing AIFs

Marketing Non-EU Funds into Europe• AIFMD Application & compliance for US Managers• Reverse solicitation & private placement

• AIFMD is here: What can you do?• Fund set up & structuring

US Funds: Ensuring European Regulatory Compliance• Remuneration restrictions upon US managers• Reporting requirements, fees and sanctions

• Disclosing to investors & regulators • Administrator expectations

Investor Demand in Real Terms • Accessing Asia (inc. China) • Accessing Latin America

(inc. Brazil, Chile & Peru)

• Prevalent existing distribution channels• UCITS: regulator & investor views

• Set-up & administration costs • Gaining first mover advantage

Bringing Your US Fund Onshore • Focus on Dublin • Legal frameworks & authorisation

process

• Service provider expertise• Focus on Luxembourg

• Available fund structures • Role of the regulator

Don’t miss - Post-conference

workshop

February 26th & 27th 2014, Manhattan, New York City, USA

• Ensuring an Efficient and Profitable Operational Setup• Jurisdictional Cross-Border Registration & Regulations• The Role of Platforms Within Your Distribution Strategy

• Suitable Distribution Channels & Strategies• Product Design• Focus on UCITS & AIFMD Distribution

Creating Your Global UCITS & AIFMD Distribution Strategy

Drill down to the essentials of your distribution strategy that must be in place. Dissect and analyse your international distribution strategy to ensure you are reaching all the investors you can.

Led by: Steve Williams, Brook Green Group & Lorcan Murphy, Acolin

Your speakers include:

FUNDSLEGG MASON

HERMES FUND MANAGERS

INVESCO

NORDEA ASSET MANAGEMENT

LEMANIK ASSET MANAGEMENT

GUGGENHEIM PARTNERS

HUTCHIN HILL CAPITAL

PAAMCO

TAYLOR INVESTMENT ADVISORS

EAGLE RIVER ASSET MANAGEMENT

FIR TREE PARTNERS

AN ZHONG INVESTMENT MANAGEMENT

BTG PACTUAL

DEER ISLE CAPITAL

DISTRIBUTION & PRODUCT SPECIALISTS

LATAM ALTERNATIVES

J.P. MORGAN

HSBC SECURITIES SERVICES

BNP PARIBAS SECURITIES SERVICES

LIPPER

REGULATORY EXPERTS

MANAGED FUNDS ASSOCIATION

MAPLES AND CALDER

WALKERS

ARTHUR COX

HOGAN LOVELLS

REED SMITH

A&L GOODBODY

ALESSANDRI & COMPANIA

Register Today Tel: +44 (0) 20 7017 7790 Email: [email protected] Fax: +44 (0) 20 7017 7824For latest programme and to register visit: www.ibc-events.com/GFDUSA

Paper sourced from sustainable forests

Elemental Chlorine Free (ECF)

Register Today Tel: +44 (0) 20 7017 7790 Email: [email protected] Fax: +44 (0) 20 7017 7824 For latest programme and to register visit: www.ibc-events.com/GFDUSA

G L O B A L F U N D D I S T R I B U T I O N U S A 2 0 1 4DAY ONE

9.00 Chairman’s Welcome

9.15 Global Opportunities for US Managers: How Do I Raise Assets?

•Distributionoptionsopentooffshoremanagers •UCITSvs.AIFs: - assessing the demand for UCITS following AIFMD

implementation - knowing whether managers have been adopting the

AIFMD and moving onshore •InvestordemandfromEurope,Asia&LatAminreal

terms •Productsthatareseeingthemostsuccess

Eric Neisner Director LEGG MASON

Rhodri Mason Head of Investment Solutions & Product Strategy HERMES FUND MANAGERS

Christophe Girondel Head of Global Distribution – Member of the Executive Committee NORDEA ASSET MANAGEMENT

Verena Charvet Legal Director of European Regulatory Affairs INVESCO

10.00 UCITS IV, V, VI & Alternative UCITS •Currentinvestorappetite •RegulatoryattitudetowardsAlternativeUCITS •AlternativeUCITS: - compliance & risk management of a UCITS fund - future eligible assets - use of derivatives •Regulatoryimpactuponfunds&distribution: - passporting for US managers - registration - KIID

Sheenagh Gordon-Hart Client & Industry Research Executive, Executive Director J.P. MORGAN

Stephen Carty Partner MAPLES AND CALDER

10.40 Break

11.00 Marketing of Non-EU Funds into Europe: Now That The AIFMD Is Here… What Can I Do?

•Challengesinsettingupadistributionnetwork: - how offshore managers can distribute •UtilisingexistingEuropeandistributionchannels: - private banks - platforms •AnalysinghowmanagershavebeenmarketingAIFscross-

border •Practicalapplication&provendistributionstrategies

Steve Bernat Head of Distribution LEMANIK ASSET MANAGEMENT

Catherine Vaughn Head of Product Strategy HUTCHIN HILL CAPITAL

Rob Jee Senior Legal Counsel, Director GUGGENHEIM PARTNERS

11.40 Marketing of Non-EU Funds into Europe: Distribution: Focus on Reverse Solicitation & Private Placement

•Futurelandscapeforprivateplacementoffunds •Howtorelyonreservesolicitation •Understandinghowdifferentjurisdictionsviewreverse

solicitation: - knowing which countries are more open to reverse

solicitation •Letterboxentitiesexplained •Detailedreportingrequirements

Max Rijkenberg Legal Counsel PAAMCO

Christine Woodhouse General Counsel TAYLOR INVESTMENT ADVISORS

Gayle Bowen Of Counsel WALKERS

12.20 Lunch

Sponsorship opportunities at this conference include:

This event will present an excellent opportunity to network in a relaxed environment with a tightly targeted industry audience. For more information please contact Max Tattersall on +44 (0)20 7017 4673, email: [email protected]


G L O B A L F U N D D I S T R I B U T I O N U S A 2 0 1 413.20 AIFMD: Application & Compliance

Requirements for US Managers •Commonchallengesfacedbymanagers •Workingwithinthegrandfatheringperiod •Meetingthetimescaleforimplementation •Expectedfurtheramendments •AssessingtheimpactofESMA’slikelyintentionsforforced

adoption of the AIFMD •Obligationsforoffshoremanagers

Ben Allensworth Associate General Counsel MANAGED FUNDS ASSOCIATION

Monica Gogna Partner PINSENT MASONS

14.00 Marketing of Non-EU Funds into Europe: Setting Up & Structuring Your Funds

•Impactuponsub-advisorstoEUmanagers •Fundsetup&establishment: - partnering with asset servicers - tapping into distribution channels - structuring your product •Whento: - stay offshore / move onshore - split funds into separate offshore and onshore vehicles •Whentosetupaparallelstructure •Whetherthecostsinmovingonshorewillbeoffsetby

increased investor demand •FocusonMaster/Feedersetup: - understanding when this would be the most appropriate

solution - options for partnering with asset servicers - assessing the costs involved with setting up a structure

Jonathan Bloom Chief Operating Officer EAGLE RIVER ASSET MANAGEMENT

Brian Meyer General Counsel & COO FIR TREE PARTNERS

14.40 Bringing a Fund Onshore: Focus on Dublin

•Establishingclonefundsre-domiciliation •Availablefundstructures •UCITSvQIAIF •ServiceproviderexpertiseinIreland •Newproductdevelopments •Taxconsiderations

Dara Harrington Partner ARTHUR COX

15.20 Bringing a Fund Onshore: Focus on Luxembourg

•LegalframeworkwithinLuxembourg •RoleoftheCSSF •ExternalAIFMsandinternallymanagedAIFs •Authorisationprocess

Pierre Reuter Partner HOGAN LOVELLS

16.00 Remuneration Restrictions upon US Managers

•Scope&reachofremunerationprovisionsundertheAIFMD

•Requirementsforshareownershipwithinthefund •Linkingremunerationwithreporting •Establishment&continuedroleoftheremuneration

committee •Applicationiffundissoldthroughreversesolicitation

C. Todd Gibson Counsel REED SMITH

16.30 Disclosure & Reporting Requirements

•Disclosuretoinvestors: - investment strategies & restrictions - leverage, collateral and prime brokerage arrangements - valuation & liquidity - fees, expenses and side letters •Annualreports •Disclosuretoregulators •Potentialsforfeesandsanctionsiftherequirementsare

not met

Brian McDermott Partner A&L GOODBODY

DAY TWO

9.10 Accessing Asian Investment •Overviewofkeymarkets •Updateonprogresswithmutualrecognitionschemesand

ASEANpassport •Costsandadministrationinsettingupandregistering

Alain Guerard Managing Director MANAGEMENTPLUS

9.50 Focus on China •UtilisingtheHongKong/ChinaMutualRecognitionScheme •Prevalentexistingdistributionchannels:AccessingChinese

investors on the ground •NowthatfundshaveaccesstoChina…doChinese

investors really want UCITS?

Gerard de Benedetto CEO AN ZHONG INVESTMENT MANAGEMENT

10.30 Break


G L O B A L F U N D D I S T R I B U T I O N U S A 2 0 1 4

Sponsorship opportunities at this conference include:

This event will present an excellent opportunity to network in a relaxed environment with a tightly targeted industry audience. For more information please contact Max Tattersall on +44 (0)20 7017 4673, email: [email protected]

Comments from past attendees to IBC conferences:

“All the speakers were very good – very knowledgeable on the subject and coherent

putting their views across”

Rachel White, LCM Wealth

“The experience of the speakers really points a good picture of the industry landscape”

Past Delegate, IBC UCITS Conference

“I appreciated the dynamic approach and concrete facts”

Claude Laurence, Manager Nomura Bank Luxembourg

“International panel session was particularly useful”

Benjamin Lamping, Solicitor, RBS

Previous Fund Attendees Include:Acadian Asset Management • Allfunds Alternative • AllianceBernstein • Artisan Partners Limited Partnership • Attalus Capital • Aviva Investors • Brookfield Investment Management • BTG Pactual • BTS Asset Management • DWS Investment GmbH • Fidelity Investments • Franklin Templeton Investments • Gottex Fund Management Holdings • ING Investment Management • Invesco Perpetual • Isis Asset Management • Jennison Associates • Legg Mason • Lemanik Asset Management • Man Investments • Nippon Value Investors Inc • P. Schoenfeld Asset Management • Polen Capital Management • Potomac Portfolios LLC • Propinquity Advisors LLC • Prospect Capital • Putnam Investments • Pyramis Global Advisors • Schroder Investment Management NA Inc • Shenkman Capital Management Inc • Southeastern Asset Management, Inc • Swiss & Global Asset Management Ltd • T Rowe Price • TCW Funds • Thornburg Investment Management • Transamerica • Vanguard Group • Wellington Management Company LLP • Wells Fargo

10.50 Accessing Latin American Investment

•HowUCITSarecurrentlyviewedbyregulatorsandinvestors

•Stepstakenin2013toencourageinvestmentfromLatAm •Puttingstepsinplacetogainfirstmoveradvantagewhen

the market opens •Understandingwheretheflowsarecurrentlycomingfrom •WhenwillBrazilrelaxitsrestrictionsonUCITS? •TappingintotheChileanandPeruvianmarkets

Ricardo Kaufmann Director BTG PACTUAL

Victor Hugo Rodriguez President & CEO LATAM ALTERNATIVES

Felipe Cousino Partner ALESSANDRI & COMPANIA

11.30 What Managers Expect From Their Administrators & Prime Brokers

•Bestpracticepricingforcustodians,administratorsandlegal counsel

•Understandinghowtheincreasedreportingburdenisreflected within cost

•ComparisonsofexpectationswithinthedomesticUSmarket

•GaugingtheservicesprovidedbyUSassetservicersandexpectationsfromEuropeanpartners

Paul Ellis European Head of Product Strategy HSBC SECURITIES SERVICES

Chris McChesney SVP, Head of Alternative Investor Services Group BROWN BROTHERS HARRIMAN

Dianna Raedle CEO DEER ISLE CAPITAL

David Giannone Vice President, Asset Manager Solutions BNP PARIBAS SECURITIES SERVICES

12.10 Trends & Outlook for UCITS & AIFs Sales Internationally

•Wherearefundflowscomingfrom? •Whichproductsareselling

Detlef Glow Head of Lipper EMEA Research LIPPER

12.50 EndofConference

February 26th & 27th 2014Manhattan, New York City, USA

Workshop

Creating Your Global UCITS & AIFMD Distribution Strategy

Afternoon session February 27th 2014, Manhattan, New York City, USA

A clear, defined and effective distribution strategy is vital to the success of your fund. To ensure steady growth of your AuM and reduce the administrative and operational burden, fund distributors are required to have a clear strategy from the outset. By attending this workshop you will gain all the expertise you require to establish the correct operational set up, overcome the regulatory and administrative complications and launch your product.

Start 2.00pm - Close of Day 5.00pm

Workshop LeadersLorcan Murphy, Director, ACOLIN UK Lorcan is the Managing Partner and CEO of Acolin UK. Formerly responsible for the Wealth Intermediary business for BGI in Europe, he focused on private banks and multi-family offi ces. Lorcan was also responsible for the operational management of 77 funds totalling some $100 bn of AUM, based in Dublin, Luxembourg and Jersey. Lorcan is a member of the Institute of Chartered Accountants of Ireland (ACA), and graduated from Trinity College, Dublin in Economics.

Steve Williams, Managing Partner & CEO, BROOK GREEN CAPITAL, LONDONSteve is the founder of Brook Green Capital. Working in London since 1987, he has focused on institutional sales (Goldman Sachs, Lehman Brothers, Cantor Fitzgerald) and raising investment capital from European and Middle Eastern investors. He co-founded Cadwyn Capital, a global macro hedge fund. Steve holds an MBA from Columbia University, where he was awarded a Congressional Fellowship in International Finance.

Suitable Distribution Channels & Strategies• Aligning and positioning your product with a suitable brand

within the target market• Utilising events to raise profile and awareness• Strategies to ensure growth whilst maintaining customer retention• Relevant knowledge to smooth host country registration• Asset allocation implications within your target market• Operational requirements within your fund selection function• Understanding the requirements of your target jurisdictions i. Best practice sales & marketing ii. Fund Selection Strategies

Ensuring an Efficient and Profitable Operational Setup• Partnering with: i. Transfer Agents ii. Local translators iii. Legal experts iv. Tax efficiency experts• Current industry technology overview• Maintaining ongoing oversight• Best practice reporting & monitoring

Jurisdictional Cross-Border Registration & Regulations• Explore the administrative requirements to ensure cross-border

distribution & marketing• Simplifying and clarifying the notification procedure• Effectively utilising the UCITS passport• Jurisdictional conduct of business rules explained• Requirements for drafting distribution contracts

Product Design• Developing your product structures with the target market in mind• Gauging the regulatory implications alongside tax efficiencies• Improve your knowledge of the local end investor• Understanding: i. Leveraged feeders ii. Hedged wrappers iii. Listed vehicles iv. UCITS• Ensuring effective ongoing product management• Clarifying tactical and strategic product development

The Role of Platforms Within Your Distribution Strategy• Assessing the suitable and role of platforms in your distribution

strategy• Assessing suitable counterparty arrangements• Obligations within platform partnerships• Ongoing relationship management• Distributor obligations when placing a fund on a platform i. Operational setup ii. Administrative impact• Correct pricing and industry best practice

Focus on UCITS Distribution• Honing your UCITS distribution strategy• Understanding the differences within UCITS distribution including

distributor arrangements and platforms• Building a healthy distribution network• Selecting the correct partner• Focus on Absolute Return UCITS distribution• Utilising the UCITS cross-border passport• How the AIFM will impact marketing practices

Register Today Tel: +44 (0) 20 7017 7790 Email: [email protected] Fax: +44 (0) 20 7017 7824For latest programme and to register visit: www.ibc-events.com/GFDUSA

FKW52696February 26-27, 2014

Delegates are responsible for the arrangement and payment of their own travel and accommodation. IBC has arranged a special room rate at a number of hotels. If you wish to book a room, please call Venue Search on +44 (0)20 8546 6166 stating that you are an IIR delegate

WHEN AND WHERE

PERSONAL DETAILS

Venue: venue TBC Manhattan New York City USA

50% discount

Unable to Attend - Event Documentation Nothing compares to being there - but you need not miss out! To order your online documentation simply tick the box, complete your details above and send the form along with payment. q GFD USA Global Fund Distribution - £299 + VAT (20%)Documentation orders can only be processed on receipt of credit card details. To ensure we provide the highest level of security for your credit card details we are unable to accept such payments via email or fax, which ensures that these details are never stored on our network. To make payment by credit card: To make your payment on-line, please enter your credit card details in our secure payments website that you will use when making your documentation purchase via the event website (the event web address is near the top of the booking form). Alternatively call our customer service team on +44 (0) 20 7017 7790 or email your phone number with your documentation order to [email protected] and we will call you.

Global Fund Distribution: USA 2014 FKW52696February 26th & 27th 2014, Manhattan, New York City, USA

Mail: this completed form together with payment to:Nicola RogersInforma Customer ServicesPO Box 406, West ByfleetSurrey KT14 6WL, UK

Web: www.ibc-events.com/GFDUSA

Telephone:Tel: +44 (0)20 7017 7790Please remember to quote FKW52696

Fax:Complete and send this registration form to:Fax: +44 (0)20 7017 7824

Email:[email protected]

Payment should be made within 14 days of registration. All registrations must be paid in advance of the event. Your VIP Code is given above.

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The VAT rate is subject to change and may differ from the advertised rate. The amount you are charged will be determined when your invoice is raised. Savings include Multiple Booking & Early Booking Discounts. All discounts can only be applied at the time of registration and discounts cannot be combined. All discounts are subject to approval (apart from early booking discounts which are available to everyone). Please note the conference fee does not include travel or hotel accommodation costs. 50% Discount for 3rd and subsequent delegates. We are happy to accept a replacement delegate for the whole event, however delegate passes cannot be split or shared between delegates under any circumstances.

Register by December 13th 2013 & SAVE up to $400

Register by January 24th 2014& SAVE up to $200

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Conference and workshop

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TERMS AND CONDITIONS Attendance at this conference is subject to IIR & IBC Finance Terms and Conditions at www.informaglobalevents.com/division/finance/termsandconditions. Your attention is drawn in particular to clauses 6, 8 and 14 of IIR & IBC Finance Delegate Terms and Conditions which have been set out below:

Cancellation Policy: You may cancel your registration in accordance with this Condition 6. You will receive a refund of your fees paid to IIR and IBC Finance (if any): (i) if you cancel your registration 28 days or more before the Conference, subject to an administration charge equivalent to 10% of the total amount of your fees plus VAT; or (ii) if you cancel your registration less than 28 days, but more than 14 days before the Conference, subject to an administration charge equivalent to 50% of the total amount of your fees plus VAT. IIR and IBC Finance regrets that the full amount of your fee remains payable in the event that your cancellation is 14 days or less before the Conference or if you fail to attend the Conference. All cancellations must be sent by email to [email protected] marked for the attention of Customer Services and must be received by IIR and IBC Finance. You acknowledge that the refund of your fees in accordance with Condition 6 is your sole remedy in respect of any cancellation of your registration by you and all other liability is expressly excluded.

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