Innovative Alternative Strategies

8/9/2019 Innovative Alternative Strategies

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The Premier Alternative Investments Eventdesigned exclusively or fnancial advisors, wealth managers and amily ofces!Featuring Jon Corzine, Roger Ibbotson and Tom Ricketts

Presented by

supplement to july 2010 financial advisor magazine

How Advisors CAn ACHieve Portfolio diversifiCAtion And AlPHA

Innovative Alternative Strategies

july 2728, 2010 westin chicago river north


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Dear Colleague:

Financial Advisorand Private Wealth magazines are delighted to invite you to our rst Innovative Alternative Strategies

conerence. The events o the last ew years have prompted all o us to engage in serious contemplation about investing and

nancial planning.

At this two-day event, weve endeavored to bring together some o the nest minds in the investment world and create a

meeting that will stimulate your thinking. As bets a conerence on alternative investments, our distinguished keynote speak-

ers bring diverse backgrounds and accomplishment to the event.

Roger Ibbotson is founder of Ibbotson Associates, a professor of nance at Yale School of Management and apartner in Zebra Capital Management, which manages long/short equity hedge funds.

Jon Corzine is the chairman and CEO of MF Global, a former governor of New Jersey and a former CEO of

Goldman Sachs.

Thomas Ricketts is the chairman and CEO of Incapital, a leading provider of structured notes, as well as

executive chairman/owner of the Chicago Cubs.

But the list of experts on alternative investing at the conference is long. They include Chuck Stucke, co-CIO of Guggenheim

Investment Advisors; John LaPann, CEO and CIO of Federal Street Advisors; George Walper Jr., president, Spectrem Group; and

David Tice, chief portfolio strategist of Prudent Bear Funds, Federated Investors Inc.

John Brynjolfsson, CIO of Armored Wolf LLC, brings more than a decade of experience in investing in alternative real assets

to the meeting. Rick Lake of Lake Partners has spent several decades consulting for some of the nations largest institutional

investors on how to navigate the alternative space.

The conerence also addresses real-world issues acing advisors, such as accessing alternative investments and deciding what role theyplay within a clients overall asset allocation. In addition to examining investments rom a big picture ramework, some sessions will drill

down and scrutinize various strategies, such as managed utures, and asset classes, including real estate, in detail.

Please join us on July 27-28 at The Westin Chicago River North for a chance to explore new ideas and educate yourself while

networking with your ellow proessionals by registering now at www.altinvconerence.com.

We look forward to seeing you in July.

Evan Simonoff , Editor-in-Chief David Smith, Group Publisher

Welcome

58 | innovative alternative strategies | july 2010 www.altinvconference.com


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july 2010 | innovative alternative strategies | 59

Contents

Financial Advisormagazine is a pure-play on the

independent nancial advisor market, primarily targeting

independent broker-dealers, aliated-nancial planners

and registered investment advisors. Our circulation of

90,000 is 100% qualied and penetrates virtually the en-

tire nancial planning community, including over 30,000

CFPs, 19,000 RIAs, and members of FPA, NAPFA, AICPA-

Personal Financial Planning Division and IMCA. 100%

of our circulation is requested.

60 Seeking Alpha, Avoiding BetaAdvisors turn to alternative investments in search o returns

without the volatility.

63 Speakers

71 Daily Program

79 Sponsors & Exhibitors

85 Registration and Hotel Information

Private Wealth: Advising the Exceptionally Afuent is the

rst and only magazine to exclusively target advisors,

service providers and other centers o infuence who cater

to the nancial, legal, insurance/risk management and

liestyle demands o the ultra-afuent (those with a

minimum net worth o $10 million). These advisors to

the exceptionally afuent collectively wield the greatest

purchasing power in the world and, as a result, are the

most desirable prospects o nancial and legal proessionals,

luxury brands and other elite service providers.

about the conference producers


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Subsequent to the market crash o 08-09, many -

nancial advisors have re-evaluated some o the basic

investing truths theyve held to be sel-evident, such

as modern portolio theory (MPT). While ew doubt

the merits o diversication, which is the oundation

or MPT, more advisors are seeking a broader mix o alternative

asset classes that are less correlated to traditional stocks and

bonds and, in theory, less prone to the gut-wrenching volatility

swings that have seemingly become the norm o late.

And or some advisors and their clients, the recent fash crashhammered home that point. Its almost good to have those

events to use as examples o why we own them [alternatives] in

the portolio, says Daniel Roe, a principal at Budros, Ruhlin & Roe

Inc. in Columbus, Ohio. Its not about keeping up with the upside

o equities in bull markets, its about downside protection and the

chance to outperorm bonds over the next ew years.

Roe says all o his rms clients get an allocation to alternatives

through a combination o one o our dierent strategies they em-

ploy via three open-end, or 40 Act, unds and one private und.

We dont orce these down clients throats, Roe says. They

can exclude them i they want. But we educate them so theyll

hopeully better understand these positions over time.

More Choices

Alternative investments come in many dierent shapes in the

orm o hedge unds and hedge-style approaches that include

long-short, event driven, market-neutral, global macro, merger

and convertible arbitrage, relative value, directional/tactical,

managed utures, distressed debt, short bias and options strate-

gies. Many o these are long-term, illiquid strategies.

Long the domain o institutional investors, as well as qualied

individual investors with the deep pockets to pay minimums

ranging rom $1 million to $5 million, the alternative space has

expanded in recent years thanks to the growing number o 40

Act mutual unds that have brought alternatives to the masses

through low-cost vehicles with daily liquidity.

These unds come with restrictions such as limits on the

amount o leverage and illiquid securities they can use,

which cuts into their potential returns. On the fip side, it

also limits their potential losses since theyre designed to

be less volatile than pure hedge unds.

According to a recent study rom SEI and Strategic Insight, the

U.S. alternative mutual und and ETF space grew rom $90 bil-

lion in assets at year-end 2008 to $168 billion at year-end 2009.There are now roughly 400 such unds in the U.S.

Don Wilson, partner and director o portolio manage-

ment at Brightworth in Atlanta, says the wealth manage-

ment rm started using alternatives in 2003 because it

was dissatised with how stocks and bonds perormed a-

ter the tech wreck. We saw that alternative strategies did

well during that period, and we wished we had some o

that in our portolio, he says.

Brightworth started out with a mutual und employing

a long-short equity strategy. Since then, Wilson says, it has

beeed up its alternative mutual und oerings across a

range o strategies including tactical allocation, real return,infation-protected, hedged equity, market-neutral and dis-

tressed real estate.

And along with mutual unds, Wilson says Brightworth

invests in limited partnerships via unds o hedge unds.

These include long-short, distressed debt, global macro

and various arbitrage strategies.

Theyve given us the returns were looking or over ull

market cycles, Wilson says.

Regarding due diligence, Wilson says 40 Act alternative

unds are airly easy to research because theres a publicly

traded universe to compare them against peers and to identiy

managers track records.

Seeking Alpha,Avoiding Betaadvisors turn to alternative investments in searchof returns without the volatility. | by jeff schlegel



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Feature


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Due Diligence

But as Wilson and others know, perorming due diligence

on unds o unds is more diicult. For starters, there arentreams o public data to pore over because a lot o hedge

unds dont report their numbers.

A lot o the best managers arent ocused on gathering

assets, says Stephanie Lang, senior analyst in the invest-

ment department at Homrich Berg Wealth Management

in Atlanta. Theyre very protective o their inormation and

they arent required to report to databases. To get more

granular inormation, you have to get it rom the manager.

She says the typical portolio or a Homrich Berg client com-

prises roughly 30% alternative assets. O that, about 25% are in

hedged portolios comprising unds o unds or 40 Act unds.

The rest, as much as 7%, is in private equity-like vehicles such

as a private real estate und or a natural resources und.

Lang says her rm has ound good und o hedge und man-

agers through other investors. At times, unds contact her rm

seeking investor money. She says hedge und marketing people all

claim to represent great managers, so advisors planning to investin the space need to dig in and do serious due diligence.

With unds o unds, Lang says her research is ocused on the

people who select the underlying managers. Ater all o the

raud o the past couple o years, its become really important

to understand their operational due diligence, Lang says.

These outts should have a separate team doing opera-

tional due diligence that both veries all o their third-party

service providers and ollows the fow o money to make sure

all o it is there.

A lot o the high-prole rauds occurred because managers

were using aliated or ctitious service providers, Lang says.

Private Funds

Regarding private investment managers, thats a tougher

nut to crack in terms o getting access. Lang says one way to

do that is to work through a placement agent who does und

raising or private investment groups. That said, a lot o suc-

cessul private investment groups dont use placement agents

because they dont need help to raise money.

Diligent, in-depth research is a must beore investing with

private unds. To screen managers, well get their oering doc-

uments, assess their strategy, market opportunity, team and

track record, Lang says. I they still look attractive, well move

orward with additional due diligence.

For example, she adds, i we look at an energy manager and

they buy oil and gas wells, we ask whos making the decision on

buying the wells and whats their experience and track record.And whatre the income risks rom the wells and what are they

doing to hedge that i appropriate?

We ocus a lot on the downside, Lang says. They also have to

have attractive enough returns to lock up money or ten years.

Worth The Price?

Michael Reed, president o M.J. Reed Investment Consulting

in Bridgewater, Conn., says a lot o olks got interested in alter-

native investments several years ago thanks to press coverage

o the investing prowess at the endowments or Harvard and

Yale universities, both o which were heavy into alternatives.

But he says people mightve jumped in at the wrong time.

What happened in 2008 took a lot o wind out o the

sails o what people expected, says Reed, a ormer hedge

und manager in Morgan Stanleys proprietary trading

group who recently set up his own RIA. He says most hedge

und strategiesmanaged utures was a noticeable excep-tioninished 2008 in the red. Various alternative strate-

gies might have outperormed the overall markets during

the crisis, but Reed questions whether their relative outper-

ormance justiied their high ees.

Reed also says that hedge und returns have converged

toward traditional asset classes as alternatives increased in

popularity, a situation making it harder to exploit some o

the ineciencies that made them potentially protable in

the rst place. Convertible arbitrage is a classic example o a

strategy that used to be highly protable but where most o

the alpha has gone away the past ve or so years, he says.

Given their ee structures, I dont know i they have the al-pha to overcome the ees they charge, Reed says.

Still, judging by the growing popularity o hedge-like strate-

gies, its an investment strategy in demand. And based on the

experiences o the advisors interviewed or this story, alterna-

tives can play a constructive role in portolio diversication,

provided one does research and allocates them properly.

Alternatives arent or everyone, Lang says. We wouldnt

do it i we elt it wasnt appropriate or a client in terms o their

liquidity and income needs.

Its hard to time these things, she adds. We want peo-

ple to do multiple unds over multiple years to get good

diversication.

Feature

hedge fund strategies have converged toward traditionalasset classes as alternatives increased in popularity.


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Speakers Tom W. Anderson

Vice Chairman and FounderPENSCO Trust CompanyTom Anderson is a recognized nationalexpert on sel-directed IRAs who hashosted his own radio show, Maximiz-ing Your IRA, and appeared on CNBCsPower Lunch. PENSCO Trust enables itsclients to place non-traded investmentssuch as real estate and private place-ments in IRAs.

Richard ArnitzExecutive Vice President, SalesGrubb & Ellis Securities Inc.Richard Arnitz is responsible or the salesand marketing o the companys publicand private investment programs, includ-

ing public non-traded real estate invest-ment trusts (REITs) and tenant-in-common(TIC) oerings or 1031 exchanges. He hasmore than 23 years o experience in thenancial services industry.

Matthew BalakerSenior Investment Analyst

Mickelson Investment Management LLC

Matthew Balaker is an analyst or Mickel-sons Micro PIPE Fund I. He ormerly servedas an investment ocer at Bristol Capital

Advisors LLC, where he worked or eightyears and participated in over 300 invest-ments. Mr. Balaker speaks at many industryconerences, oten discussing issues relatedto private investments in public equity(PIPE) transactions.

James BittmanSenior InstructorThe CBOEs Options InstituteJames Bittman is the author o ourbooks about options trading and teachescourses on the topic or public andinstitutional investors. He began histrading career in 1980 as an equity op-tions market maker at the Chicago BoardOptions Exchange. From 1983 to 1993, hewas a commodity options member o theChicago Board o Trade.John BrynjolfssonChie Investment Ofcer

Armored Wol LLC (Sub-advisor to Eaton

Vance Commodity Strategy Fund)

Prior to orming Armored Wol, John

Brynjolsson spent 19 years at PIMCO,where he created and grew the RealReturn platorm to $80 billion. He holds abachelors degree rom Columbia Collegeand a masters degree rom the MIT SloanSchool o Management.

Tom CapassePrincipal

Waterall Asset Management LLC

Tom Capasse is a principal o Waterall, aleading asset backed securities and non-

perorming loan manager with $1.3B AUM.A pioneer in the securitization marketas a ounding member o Merrill Lynchsindustry-leading ABS Group (1983-1994),Capasse subsequently managed principalnance groups at Greenwich, Nomura andMacquarie beore co-ounding Waterall.

Innovative Alternative Strategies


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Cleo C. ChangVice President

Wilshire AssociatesCleo Chang joined Wilshire in 2005 andis head o the rms investment researchgroup. She has more than nine years o ex-perience in the asset management industry.Chang is responsible or making strategicand tactical asset allocation recommenda-tions, creating customized investment solu-tions and portolio risk modeling.

Peter CookChie Investment OfcerPerormance Trust Investment AdvisorsPrior to joining PTIA, Peter Cook previous-ly managed assets or Rochester Partners,a long/short equity und, and TempletonGlobal Advisors, and was vice president ininterest rate and currency swaps at UBS.Cook received a bachelor o science in ac-countancy rom University o Illinois andan M.B.A. rom University o Chicago.

Jon CorzineChairman and CEOMF Global Holdings

Jon Corzine is ormer chairman and CEOo Goldman Sachs and a ormer New Jer-sey governor and U.S. senator. Under hisleadership, Goldman Sachs successullyconverted rom a private partnership toa public company. As senator, Corzineco-authored the Sarbanes-Oxley Act o2002 in reaction to a wave o nationalinancial scandals.

Stephen CucchiaroPresident and Chie Investment Ofcer

Windward Investment ManagementStephen Cucchiaro has researched theglobal capital markets or more than 30years. He has a mathematics degree romMassachusetts Institute o Technology andan M.B.A. in nance rom the WhartonSchool. In the late 1970s, Cucchiaro quali-ed or the U.S. Olympic yacht racing teamand was a gold medalist in the 1979 PanAmerican Olympic Games.

Steffan DyeSenior Vice President

Ridgewood EnergyStean Dyes interest in oil and gaseconomics started at an early age, whilehe was growing up in the West TexasOil Patch. Dye and his team have raisedover $500 million or Ridgewoods Energyunds in the last ve years, with invest-ments in some o the largest energyprojects in the Gul o Mexico.

Jack DzierwaGlobal StrategistU.S. Global InvestorsJack Dzierwa evaluates international op-portunities or U.S. Global Investors andperorms analysis o individual companiesand macro-theme development in bothdeveloped and emerging markets. He wasormerly a director in the emerging mar-kets research department at ING FinancialMarkets in London.

Theodore P. EndersVice President and Portolio StrategistGoldman Sachs & Co.

Theodore Enders joined GSAM in 2004,ater developing quantitative tradingmodels and managing a und o undsor a Boston alternative investment rm.From 2000 to 2002, he was an equity re-search analyst at Merrill Lynch, and rom1996 to 2000, he was a corporate strate-gist with Morgan Stanley.

Mark EnmanHead o Global MacroMan Investments

Mark Enman is head o global macro inthe hedge und research area o ManInvestments multi-manager business. En-man, based in New York City, previouslyheaded RMF Investment Managementsglobal macro team. He also has worked atArden Asset Management, a New York-based und o hedge unds, and DresdnerKleinwort, a ormer British-based invest-ment bank.


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Speakers

Michael R. EschmannVice President, Business Development

Direxion SharesMichael Eschmann leads Direxions ETFsales eort and develops and maintainsstrategic relationships with the institu-tional and retail investor base. He hasnearly ten years o experience in sales andtrading, including seven years in institu-tional xed-income sales at Merrill Lynch.

Adam FriedmanVice PresidentIncapital LLCAdam Friedman joined Incapitals Struc-tured Investment Group our years agoater 15 years o industry experience,most recently with Bank o Montreal.He is responsible or the distribution ostructured notes and CDs across all assetclasses, including single stocks, indices,commodities, oreign exchange, creditand xed income.

Philip H. GockeManaging DirectorOptions Industry Council

Philip Gocke has been the managingdirector or institutional education andresearch or the Options Industry Councilsince 2005. He is also president o the op-tions trading rm Brite Sky LLC and waspreviously CEO o VDM Options LLC.

Mark GreenChie Investment OfcerOxord Financial Group Ltd.Mark Green has 20 years o investmentmanagement experience serving private

and institutional clients, and has hadextensive experience with traditional andnon-traditional investment strategies,including hedge unds, private equity, realestate and illiquid investments.

Suzanne HamiltonHedge Fund Manager

Legacy Capital Fund LPSuzanne Hamilton has been managingportolios or 11 years, using her 18 yearso computer security and mathematicsexperience to automate the managemento risk in supporting trading strategies.Prior to ounding Legacy Asset Manage-ment Inc., she was CEO o SECURIX, Inc.

Ryan HarderSenior Portolio ManagerRydex|SGIRyan Harder leads the portolio manag-ers and analysts who manage many oRydex|SGIs alternative unds, as well asthe rms leveraged and inverse unds.Harder was previously an equity researchanalyst and assistant portolio manager atWestLB Asset Management.

Joanne HillHead o Investment StrategyProFunds GroupJoanne Hill is responsible or research,

development and dissemination oinvestment strategies using ProFundsETFs and mutual unds. She was ormerlywith Goldman Sachs or 17 years. Hill haspublished extensively on quantitativeinvestment topics and derivatives, withrecent articles in the Financial AnalystsJournal, Journal o Portolio ManagementandJournal o Trading.

Christopher HoltFounder and Managing Editor

AllAboutAlpha.comChristopher Holt is head o industryrelations in the Americas or the Char-tered Alternative Investment Analyst(CAIA) Association and the ounder andmanaging editor o AllAboutAlpha.com,a Web site covering research, analysisand opinion on alternative investments.He holds an M.B.A. rom Duke Universityand is a CAIA.


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Brian K. HurstPrincipal

AQR Capital ManagementBrian Hurst has been with AQR Capitalsince its inception in 1998. He has morethan 15 years o experience managingmoney or institutional investors in bothtraditional and alternative investmentstrategies . He is currently the head oAQRs Global Trading Strategies group.Prior to AQR, he worked at Goldman,Sachs & Co.

Roger G. IbbotsonFounderIbbotson AssociatesRoger Ibbotson is ounder o Ibbotson As-sociates, a registered investment advisorand wholly owned subsidiary o Morning-star Inc., and a proessor o nance at theYale School o Management. Morningstaracquired Ibbotson Associates in March2006 and Ibbotson now acts in a manage-ment advisory role or Morningstar.

Jeff JosephCo-Founder and Managing Partner

Prescient Capital PartnersJe Joseph is an active angel investor,venture catalyst and nancier. As a ormerRIA and the ounding managing direc-tor o the Alternative Strategies group atRydex Investments, Josephs expertise liesat the intersection o amily oces andalternative investments. Joseph writesa blog or RIAs that allocate to privateinvestments at www.venturepopulist.com.

Edwin Kelly

Director o EducationSterling Trust, an afliate oEquity Trust CompanyEdwin Kelly is a recognized sel-directedIRA expert who has educated thousandso investors, advisors and nancial proes-sionals each year on the concept o sel-directing with alternative assets. He alsoinstructs advisors on strategies or busi-ness expansion and alternative investing.

Samson KooHead o Equity & Funds Structured Markets

Origination, Americas, Barclays CapitalSamson Koo is responsible or a team onancial engineers/structurers who useequity and hybrid derivatives to designsolutions or Barclays clients in theAmericas. He has been in the derivativesindustry or more than ten years and hasocused at dierent times on derivativesin equities, interest rates, currencies andcommodities.

Frederick C. Rick LakeCo-Founder and Co-ChairmanLake Partners Inc.Frederick C. Rick Lake oversees LakePartners research on mutual unds thatutilize alternative strategies and helpsdirect the companys asset allocation,investment research and multi-managerinvestment programs. He has 29 years oexperience in the investment industry.Rick has been quoted in Barrons, TheWall Street Journal, Financial Times andother publications.

Stephanie S. LangSenior Investment AnalystHomrich Berg Wealth ManagementStephanie S. Lang joined Homrich Berg in2005 ater more than two years at Bank oAmericas private bank, where she man-aged over $350 million in assets or indi-vidual and amily trust, charitable trust,oundation and retirement accounts. Shespent six years as an equity research asso-ciate analyst with Robinson Humphrey.

John LaPannPresident and Chie Investment OfcerFederal Street AdvisorsJohn LaPann brings more than 30 years ohigh-level investment and planning expe-rience to his role as president o FederalStreet Advisors. He previously served assenior vice president o Gannett, Welsh &Kotler and spent seven years as vice presi-dent o Pell, Rudman & Company.


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Speakers

Robert D. LeinbachPresident

Walton USARobert D. Leinbach joined Walton in 2005and became the head o operations inApril 2007. He was ormerly a partner inthe law rm o Wole Leinbach P.S., a Seat-tle-based rm specializing in representingcompanies and their executives. Duringthat time, he assisted The Walton Groupwith their entry into the U.S. market.

Alan LenahanManaging Principal/Director o HedgedStrategies, Fund Evaluation GroupAlan Lenahans responsibilities includeserving as portolio manager o FEGsAccess Funds, as well as strategy researchand due diligence management. In 2007,Lenahan was named one o the 20 ris-ing stars in hedge unds by InstitutionalInvestor News.

Robert LindnerCEO, Chairman o the BoardLindner CapitalRobert Lindner earned his undergradu-

ate degree rom Mercer University andhis graduate degree rom the Ameri-can College. He is a licensed CertiiedFinancial Planner. Lindner serves on theexecutive boards o the Atlanta HumaneSociety and the Georgia Chapter o theMarch o Dimes.

Tom LydonEditor and PublisherETF TrendsTom Lydon is editor and publisher oETF

Trends, a Web site with daily news andcommentary about trends in the ETFindustry. He is also president o GlobalTrends Investments, an investment advi-sory rm specializing in the creation ocustomized portolios or high-net-worthindividuals.

Michael L. MastersonExecutive Vice President

Goldman Sachs Trust CompaniesMichael L. Masterson is responsible oroverseeing all aspects o asset manage-ment and representing Goldman Sachspersonal trust investment managementcapabilities to clients, prospects andintermediaries. He was ormerly a seniorportolio manager at Brown Brothers Har-riman in New York.

Michael MasteySVP, Managing Director o AlternativeInvestments, PNC Capital AdvisorsMichael Mastey is in charge o developingand growing PCAs proprietary alterna-tive investment product platorm andis directly responsible or all aspects oproduct management, strategic prod-uct development and risk managementoverlay. He chairs the rms AlternativeInvestment Risk Management Committee.He also plays a strategic role in alterna-tive investment sales development andmarketing or the complex.

W. Bradford McMillanVice President, Chie Investment OfcerCommonwealth Financial NetworkW. Bradord McMillan leads Common-wealths Investment Research, AdvisoryServices, Asset Management and Invest-ment Consulting teams. He is a requentguest speaker at industry conerences,including BMO Capital Markets Non-Traded REITs Forum, the InormationManagement Network Symposium andthe FPA National Capital Area Chapter.

Ed McRedmondSenior Vice PresidentInvesco PowerShares Capital ManagementEd McRedmond works on increasingthe awareness and usage o PowerSharesETFs within various distribution chan-nels, with a ocus on working with ana-lysts, due diligence groups and portoliomanagers who develop ETF portoliosand investment strategies. He oversees ateam that services the institutional and

international channels.


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David MickelsonPresident and Portolio Manager

Mickelson Investment Management LLCDavid Mickelson manages the Micro PipeFund I and is also the president o Mick-elson Capital Consulting. He has morethan 15 years o experience in nancialservices and specializes in advanced estateplanning and investment management.Mickelson lectures on nancial strategieswithin wealth building, estate planningand charitable contexts.

Robert MileffDirector, Alternative InvestmentsFortigent LLCRobert Mile is responsible or research-ing, selecting and monitoring hedge undsand other non-traditional investmentsolutions or client portolios and assistsin Fortigents asset allocation and porto-lio construction processes. Beore joiningFortigent, Mile spent several years atMonroe Vos Consulting.

Trisha MillerNational Sales Manager

Carey Financial LLCTrisha Miller oversees Carey Financialswholesaling team and the internal salesdesk. A 23-year veteran o the inancialservices industry, Miller has extensiveexperience working and developing rela-tionships with nancial advisors inall channels.

Martin MurenbeeldChie EconomistDundeeWealth

Martin Murenbeeld is publisher o theGold Monitor. He has 30 years o researchand consulting experience in gold and pre-cious metals, currency, oreign exchangeand credit markets. He graduated rom theUniversity o Caliornia, Berkeley, in 1972with a Ph.D. in international nance.

Steven QuirkManaging Director, Trader Group

TD AmeritradeSteven Quirk is responsible or the devel-opment o new trading tools and technol-ogy enhancements or TD Ameritradestrading platorm. His 22-year tradingcareer began in 1987 as a Chicago BoardOptions Exchange market maker. Whileat the CBOE, he served on the exchangesIndex Market Perormance Committeeand the Arbitration Committee.

Michael ReedPresidentM. J. Reed Investment ConsultingMichael Reed is president o M. J. ReedInvestment Consulting, an independentregistered investment advisor in Bridgewater,Conn., specializing in investment planning,tactical asset allocation and und selectionor afuent individuals and small institutions.From 1994 until 2009, Reed was a member othe Process Driven Trading group o MorganStanley. Reed has a Ph.D. in electrical engi-neering rom Princeton University.

Carl ResnickManaging Director, Portolio StrategistRydex|SGICarl Resnick provides strategicguidance on product management,new business development and proit-ability or the irms asset allocationand target beta und lineup within theinstitutional marketplace. Previously,Resnick was a national sales manager oETF and institutional sales and a variabletrust wholesaler.

Tom RickettsChairman and CEOIncapital LLCTom Ricketts co-ounded Incapital LLCin 1999. Ricketts previously served as vicepresident o ABN AMRO, where he pio-neered the use o the Internet and othertechnology so that companies could oertheir investment-grade bonds through anetwork o broker-dealers and advisoryrms. In 2009, Ricketts became executive

chairman o the Chicago Cubs.


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Speakers

Dan Roe, CFPPrincipal and Chie Investment Ofcer

Budros, Ruhlin & RoeDan Roe has been advising clients in thenancial services industry or more than20 years. Prior to joining Budros, Ruhlin& Roe in 1996, he owned his own ee-onlywealth management practice in Cincin-nati, Ohio. His primary ocus has beenon portolio management issues, but hisproessional expertise extends to insur-ance, tax and retirement planning.

Kevin M. Snchez, CIMA, CFPVice President Investments,Institutional ConsultantUBS Institutional ConsultingKevin Sanchezs $1.7 billion practice o-cuses on investment policy and portoliodesign or 26 oundations and endow-ments. His team also provides compre-hensive wealth solutions or a limitedgroup o afuent amilies. Kevin hasan MBA in Finance rom the Universityo Oregon and the CIMA designationthrough the Wharton school and IMCA.

Kenneth Settles, CFACo-Portolio ManagerRS Global Natural Resources FundKenneth Settles is a co-portolio managero RS Global Natural Resources Fund.Prior to joining RS Investments, he wasa senior energy analyst or seven years atNeuberger Berman LLC, where he also co-managed the Neuberger Berman PremierEnergy Portolio. Settles holds a B.A. ineconomics rom Williams College.

Luciano SiracusanoChie Investment StrategistWisdomTreeLuciano Siracusano oversaw the cre-ation and development o WisdomTreesproprietary index methodology andother intellectual property. Beore joiningWisdomTree in 1999, he was an equityanalyst at Value Line Inc. Prior to hiscareer in nance, Siracusano served asSpecial Assistant to New York GovernorMario Cuomo. Luciano is a graduate o

Columbia University.

Evan SimonoffEditor-in-Chie and Editorial Director

Financial Advisor andPrivate Wealth magazinesEvan Simono is editorial director oFinancial Advisorand Private Wealthmagazines and is a ounding partner oCharter Financial Publishing Network(CFPN). He has spent more than 20 yearsas an editor and reporter covering thenancial services industry. Simono isa widely recognized expert on personalnance and investments.

Christopher SkardonPortolio ManagerGorelick Brothers CapitalChristopher Skardon has more than15years o trading and investment experi-ence in structured nance securities.Beore joining Gorelick, he was a managingdirector at Banc o America Securities LLC.Skardon has held senior investment andtrading roles at American Capital Access,Prudential Securities and Deutsche BankSecurities. He is a Yale University graduate.

David SmithCo-Founder and Group PublisherFinancial Advisor andPrivate Wealth magazines

David Smith is a ounding partner oCharter Financial Publishing Network(CFPN), a publisher, marketer and distribu-tor o inormation or the nancial servicesindustry. He is co-ounder and publisheroFinancial Advisorand Private Wealthmagazines and other CFPN publications.

Ken StebenPresident and Chie Executive OfcerSteben & Company Inc.Ken Steben ounded Steben & Company Inc.,which specializes in managed utures unds.He is viewed as a pioneer in the managedutures und business, having introducedhundreds o nancial advisory rms to thisinvestment strategy over the last 20 years.


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Speakers

Charles (Chuck) StuckeChie Investment Ofcer

Guggenheim Investment AdvisorsChuck Stucke chairs Guggenheims Invest-ment Committee and leads the PortolioManagement Group. Prior to joiningGuggenheim in 2006, Stucke served as anexecutive director on the Portable AlphaTeam at Morgan Stanley Alternative Invest-ment Partners, where he opened and man-aged the rms London-based Europeanalternative investments research oce.

David W. Tice, CFA, CPAChie Portolio Strategist, Bear MarketsFederated Investors Inc.David W. Tice has been at the oreront obear market investing or more than 20 years,oten taking the role o a Cassandra to warninvestors about the dangers o investing nearthe end o a secular bull market, and hasdebated nearly every bullish Wall Street strat-egist. He launched his own rm in 1988 toprovide clients with hedging or sell disciplineperspectives and recommendations throughhis Behind the Numbers publication.

Mike TimsCEO, mtn-iMike Tims is the ounder and CEO oLondon-based mtn-i, a news service,magazine and database that tracks activ-ity in the structured product and privateplacement bond markets. Since 2006, TheWall Street Journaland Bloomberg haveregularly cited mtn-i or its comprehen-sive coverage o the U.S. markets. Tims isalso an occasional CNBC guest.

Catherine Vaughn Deutsch, CFAManaging DirectorHighbridge Capital ManagementCatherine Vaughn Deutsch is a managingdirector o Highbridge Capital Managementand head o Asset Management. Beore join-ing HCM in April 2006, Vaughn Deutsch waswith Blackstone Alternative Asset Manage-ment, involved with business developmentand product development. Prior to Black-stone, Vaughn Deutsch was a vice presidentwith Banc o America Securities.

George H. Walper Jr.President

Spectrem GroupGeorge H. Walper Jr. is president o SpectremGroup, a research and consulting rm thatspecializes in the afuent and retirementmarkets. Walper has a bachelors degree inbusiness rom the State University o NewYork College at Bualo and an M.B.A. romthe J.L. Kellogg Graduate School o Manage-ment at Northwestern University.

Don Wilson, CFA, CFPDirector o Portolio ManagementPartner, BrightworthDon Wilson is a partner at Brightworth, aleading wealth management rm in Atlanta.His primary responsibilities include develop-ing the rms overall investment strategy,researching investment managers and assetclasses, and leading the investment researchand portolio management team. Prior to hiscurrent role, he was a research analyst andportolio manager or the rm.

Robert L. Worthington, CFAPresident

Hatteras FundsRobert L. Worthington is responsible orday-to-day management and oversight oportolio and risk management, includinginvestment products, personnel and jointventure partner relationships. He also servesas a member on the investment committeeor several Hatteras unds. Prior to joiningHatteras, Worthington was a managingdirector at JPMorgan Asset Management inthe rms Institutional Advisory business.

Marc Zeitoun, CFAManaging Director and Head o DistributionRydex|SGIMarc Zeitoun is head o distribution orRydex|SGI and helps shape the rms stra-tegic direction, with specic emphasis onnancial intermediary and sub-advisorysales. Previously, he was executive direc-tor or Investment Solutions and Fee-Based Platorms and senior vice presidento Investment Process and Integration atUBS Financial Services.


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Pre-Conference Workshop

Present

Innovative Alternative StrategiesThe Westin Chicago River North, Chicago July 2728, 2010

Pre-Conference Workshop July 26, 2010

Platinum SPonSor rydex|SGi

&

Monday, July 26, 2010

Creating a Multi-Family Ofce Practice:Guidelines for Financial Advisors Targeting The Financial Elite

9:00 am 9:15 am Introduction and Overview

9:15 am 9:45 am The Financial Elite

9:45 am 10:15 am The Nature and Appeal o the Family Ofce

10:15 am 10:30 am Break

10:30 am 11:30 am Investment Management Panel

11:30 am 12:30 pm Lunch: Guest Presenter

12:30 pm 1:30 pm Liestyle Services Panel

1:30 pm 2:30 pm Insurance/Risk Management Panel

2:30 pm 2:45 pm Break

2:45 pm 3:15 pm Advanced Planning

3:15 pm 4:00 pm Sourcing the Financial Elite

4:00 pm 4:15 pm Summary, Conclusions and Questions

Mickelson Investment Management

Multi-Family Ofce Workshop Sponsors


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Monday, July 26, 2010

12:00 pm 6:00 pm Advance Registration and Exhibitor Booth Setup

Tuesday, July 27, 2010Session times subject to change

6:30 am 4:30 pm Registration

7:30 am 8:15 am Breakast with Exhibitors

8:15 am 8:30 am Chairperson WelcomeMarc Zeitoun, Managing Director and Head o Distribution, Rydex|SGI

8:30 am 9:45 am CIOInvestment Outlook The CIO general session will address both macro and micro issues. Participants will share their

outlook or both the U.S. and the global economy, as well as the direction o the nancial mar-

kets in a post-crisis world (i we are really in one). Other topics include the psychology o both

individual clients and proessional investors, lessons learned about basic tenets o nance like

MPT and buy and hold, and what role alternative investments play in their clients portolios in

the uture.

Moderator: Evan Simonoff,Editor In Chie, Financial Advisor magazinePanelists: Charles Chuck Stucke, Chie Investment Ocer,

Guggenheim Investment AdvisorsJohn LaPann, President and Chie Investment Ocer, Federal Street Advisors Inc.Mark Green, Client Investment Ocer, Oxord Financial Group

9:45 am 10:15 am Morning Networking Break with Exhibitors

10:15 am 11:15 am Breakout SeSSion aOpportunities In A Turbulent Real Estate MarketAlthough real estate has ailed to bounce back in many markets, specialized investment op-

portunities that can provide upside and/or income streams or your afuent clients are worthconsidering. Nontraded REITs, or one, are using the current environment as a chance to buy

attractive properties at depressed values, positioning themselves or growth as the market

rebounds. Our speakers will describe what they are seeing around the country and where the

pockets o opportunity are.

Moderator: W. Bradford McMillan, Vice President and Chie Investment Ocer,Commonwealth Financial Network

Panelists: Richard Arnitz, Executive Vice President, Sales, Grubb & Ellis Securities Inc.Trisha Miller, National Sales Manager, Carey Financial LLCRobert D. Leinbach, President, Walton USA

Agenda


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10:15 am 11:15 am Breakout SeSSion BThe Role o Alternatives In Asset Allocation

Volatility continues to play havoc with the markets, making it increasingly dicult to buildportolios with more consistent returns. Careully selected alternative investments can providealpha and act as hedges, particularly when dicult market conditions are the order o the day.

Learn what to look or in alternative investments and how they can be used to enhance asset

allocation models.

Moderator: To be announced.Panelists: Christopher Holt, Director and Managing Editor, Chartered Alternative

Investment Analyst (CAIA) AssociationRobert Mileff, Director, Fortigent LLCCleo Chang, Vice President, Wilshire Associates

11:20 am 12:20 pm Breakout SeSSion aUsing Futures and Options To Control Risk

Learn how these instruments work, techniques on how to use them and pitalls to avoid. Thepanel will also review how the current market has impacted price swings and how to use them

to control risk.

Moderator: James Bittman, Senior Instructor, The CBOEs Options InstitutePanelists: Steven Quirk, Managing Director, TD Ameritrade

Philip H. Gocke, Managing Director, Options Industry Council

11:20 am 12:20 pm Breakout SeSSion BLie SettlementsInsurance As An Asset ClassInsurance can be used or both wealth creation and preservation, but many individuals dont

realize that new products also make insurance an asset class. Lie settlement unds, or ex-ample, are similar to proessionally managed mutual unds but are created by securitizing many

complete or ractional lie settlement policies or individuals. Like mutual unds, lie settlement

und shares are sold to investors. How LSFs are structured and key actors associated with

them, including risks and returns, will be discussed.

Moderator: David Mickelson, Portolio Manager, Mickelson Investment Management LLCPanelists: Daniel Sheedy, Director o Capital Markets, GWG Lie

Other panelists to be announced.

12:20 pm 1:30 pm Buet Lunch in Main Foyersponsored by

12:50 pm 1:30 pm Keynote AddressTom Ricketts, Chairman and CEO, Incapital LLCGrand Ballroom A,B,C

Tom Ricketts, executive chairman o the Chicago Cubs and chairman and CEO o Incapital LLC,will share insights on the economy and nancial services. While a vice president o ABN AMRO

during the 1990s, he pioneered the use o the Internet and other technology so that com-

panies could oer their investment-grade bonds through broker-dealers and advisory rms.

In 1999, he ounded Incapital, a Chicago investment bank that underwrites and distributes

xed-income securities and structured notes through more than 900 broker-dealers, banks and

institutional accounts in the U.S., Europe and Asia.

Agenda


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Tuesday, July 27, 2010Session times subject to change

1:30 pm 2:00 pm Dessert Break with Exhibitors

2:00 pm 3:00 pm Breakout SeSSion a Managing Risks With Leveraged ETFs The goal o most leveraged ETFs is to attempt to maintain leverage by rebalancing daily and

capturing daily appreciation or shareholders. But these vehicles may result in a portolio that

ails to track its index precisely. What are the most eective uses or leveraged ETFs and how

can risks be managed?

Moderator: Tom Lydon, Editor and Publisher, ETF TrendsPanelists: Joanne Hill, Head o Investment Strategy, ProFunds Group

Ed McRedmond, Senior Vice President, Invesco PowerShares Capital ManagementMichael Eschmann, Vice President, Direxion Shares

2:00 pm 3:00 pm Breakout SeSSion BManaged Futures

The primary benet o adding managed utures to a diversied investment portolio is thatthey may decrease portolio volatility risk. They are able to reduce portolio risk because o

their low to slightly negative correlation with equities and bonds. Experts discuss their use and

why these contracts based on global investments are growing in popularity.

Moderator: Robert Lindner, CEO and Chairman o the Board, Lindner Capital Advisors Inc.

Panelists: Ken Steben, President and Chie Executive Ocer, Steben & Company Inc.Ryan Harder, Senior Portolio Manager, Rydex|SGIBrian Hurst, Principal, AQR Capital Management

3:00 pm 4:00 pm Breakout SeSSion aGlobal Macro And Emerging MarketsGlobal macro hedge unds trade xed income, equity index utures, commodities, currencies

and equities based on global macroeconomic events. A top-down approach is generally used to

make trades and orecast the direction o currency, xed income and equity indices. Although

macro global unds are a small segment o the hedge und universe, some managers have made

billions by correctly anticipating a major world event.

Moderator: To be announced.Panelists: Mark Enman, Head o Global Macro, Man Investments

L. Bryan Carter, CFA, Vice President and Associate Portolio ManagerArcadian Asset Management

Jack Dzierwa, Global Strategist, U.S. Global


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3:00 pm 4:00 pm Breakout SeSSion BAccessing and Deploying Alternatives

In this session, three advisors rom RIA rms that use alternatives will explain what promptedthem to explore alternatives, how they research the vehicles and where they t into the asset

allocation process. Other topics include liquid alternatives vs. illiquid vehicles and how they

accessed the investments, as well as whether their perormance lives up to expectations.

Moderator: Michael Reed, President, M. J. Reed Investment ConsultingPanelists: Don Wilson, Director o Portolio Management, Partner,

Brightworth Wealth ManagementDan Roe, Principal and Chie Investment Ocer, Budros, Ruhlin & Roe Inc.Stephanie Lang, Senior Investment Analyst, Homrich Berg Wealth Management

4:00 pm 4:30 pm Aternoon Networking Break with Exhibitors

4:30 pm 5:30 pm Breakout SeSSion aCurrencies As An Asset ClassForeign exchange is the largest nancial market in the world, but may be unamiliar to many

advisors. In act, until recently, FX was primarily the domain o large nancial institutions, mul-

tinational corporations and hedge unds. But the Internet has made FX ar more accessible, and

this 24-hour market trades about $2 trillion each day. Panelists will discuss these investments

and how they can be used to hedge and add a new dimension to client portolios.

Moderator: To be announced.Panelists: Dr. Martin Murenbeeld, Chie Economist, Dundee Wealth

Carl Resnick, Managing Director and Portolio Strategist, Rydex|SGILuciano Siracusano, Chie Investment Strategist,

WisdomTree Asset Management Inc.

4:30 pm 5:30 pm Breakout SeSSion BHedge Fund ResearchLeading analysts will share their research on hedge unds and discuss how the nancial crisis

and market volatility have aected perormance. Theyll also describe how survivorship bias

and other issues impact research.

Moderator: Evan Simonoff, Editor In Chie, Financial Advisor MagazinePanelists: Frederick C. Rick Lake, Co-Chairman, Lake Partners Inc.

Alan Lenahan, Managing Principal and Director o Hedged Strategies,Fund Evaluation Group

Michael Mastey, SVP, Managing Director o Alternative Investments,PNC Capital Advisors

5:30 pm 7:00 pm Cocktail Reception with Exhibitorssponsored by

Agenda


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Wednesday, July 28, 2010Session times subject to change

7:00 am 12:00 pm Registration

7:30 am 8:15 am Breakast with Exhibitors

8:15 am 8:30 am Chairpersons Recap o Day 1 & Introduction to Day 2Marc Zeitoun, Managing Director and Head o Distribution, Rydex|SGI

8:30 am 9:10 am Investor AttitudesGeorge Walper Jr., President, Spectrem Group

As president o a leading research and consulting rm specializing in afuent and retirementmarkets, George Walper has unique insight into the attitudes and behavior o investors that

he will share during his presentation and that may guide you on how to enhance relationships

with your clients.

9:10 am 9:50 am Whats The Next Big Short?David Tice, Chie Portolio Strategist, Prudent Bear Funds, Federated Investors Inc.David Tice has long taken the role o a Cassandra to warn investors about the dangers o

investing near the end o a secular bull market and has debated nearly every bullish Wall Street

strategist. He gained national recognition when he was among just a handul o courageous

people who dared short the market. Hell provide his thoughts on what investments may be in

trouble next.

9:50 am 10:30 am Morning Networking Break with Exhibitors

10:30 - 11:30 am Breakout SeSSion aUnderstanding Alternative Investment Structuresand Implementing Them In Unexpected PlacesAlternative investments can be an important addition to trusts, LLCs and retirement plans that

want to include investments with returns that are less correlated or uncorrelated to the overall

equity markets. But some specic considerations need to be weighed to ensure those respon-

sible or investment policy are charting a solid course.

Moderator: Kevin Sanchez, Vice President, UBS Institutional ConsultingPanelists: Edwin Kelly, Director o Education, Sterling Trust,

an aliate o Equity Trust Company

Michael L. Masterson, Executive Vice President, Goldman Sachs Trust CompaniesTheodore P. Enders, Vice President and Portolio Strategist, Goldman Sachs & Co.


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10:30 am 11:30 am Breakout SeSSion BAdvisors Explain Their Own Alternative Strategies

Advisors who have integrated alternative investments into client portolios share their insightson choices theyve made that worked out well and some that were less than stellar.

Moderator: Jeff Schlegel, Senior Editor, Financial Advisor magazinePanelists: Jeff Pavlik, Founder, Pavlik Capital Management LLC

Stephen Cucchiaro, Chie Investment Ocer,Windward Investment ManagementSuzanne Hamilton, Hedge Fund Manager, Legacy Capital Fund LP

11:30 am 12:30 pm Breakout SeSSion aUsing Commodities In Clients PortoliosPrecious metals, oil and minerals are amiliar investments to many advisors, but opportunities

are constantly changing, particularly in the volatile markets o the last couple o years. Portolio

managers on this panel will share their experience in navigating these investments.

Moderator: Catherine Vaughn Deutsch, Managing Director,Highbridge Capital Management

Panelists: Kenneth Settles, Co-Portolio Manager, RS Global Natural Resources FundStephen Dye, Senior Vice President, Ridgewood EnergyJohn Brynjolfsson, Chie Investment Ocer, Armored Wol LLC (Sub-advisor toEaton Vance Commodity Strategy Fund)

11:30 am 12:30 pm Breakout SeSSion BNew $11 Trillion Asset Class: Residential Mortgage DebtResidential mortgage debt has emerged as the latest opportunity or high risk-adjusted returns.

Following the housing collapse, or the rst time since the Great Depression, distressed debtis more than corporates. Hedge und managers will detail the latest trades in residential loan

servicing and mortgage-backed securities.

Moderator: Warren Paddock, Director o Investments at Bluview Wealth ManagementPanelists: Peter Cook, Chie Investment Ocer, Perormance Trust

Tom Capasse, Principal, Waterall Asset Management LLCChris Skardon, Portolio Manager, Gorelick Brothers Capital

12:30 pm 1:30 pm Buet Lunch in Main Foyer

12:50 pm 1:30 pm Keynote Address

Jon Corzine, Chairman and CEO, MF Global HoldingsGrand Ballroom A,B,CJon Corzine, ormer chairman and CEO o Goldman Sachs and ormer governor o New Jersey,

uses his high-level government experience and real-world Wall Street acumen to share insight

on alternative investing, economic policy, nancial regulation and the tough political choices

aced by the Obama administration. He is currently the chairman and CEO o MF Global Hold-

ings, one o the worlds leading cash and derivatives brokerage rms, and an operating partner

at J.C. Flowers & Co., a private equity rm ocused on the nancial services sector.

1:30 pm 2:00 pm Dessert Break with Exhibitors

Agenda


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Wednesday, July 28, 2010

2:00 pm 3:00 pm Breakout SeSSion aStructured NotesPanelists will explain the pros and cons o these hybrid securities, which oer returns that track

an underlying debt obligation and a derivative embedded within it.

Moderator: Mike Tims, CEO, mtn-iPanelists: Sam Koo, Head o Equity & Funds Structured Markets Origination, Americas,

Barclays CapitalAdam Friedman, Vice President, Incapital LLCLarry Wilson, Vice President, JP Morgan, Structured Investments

2:00 pm 3:00 pm Breakout SeSSion B Private Equity / Venture Capital

Opportunities in private equity and venture capital are beginning to pick up again. Invest-

ment managers discuss how they evaluate these opportunities and describe how they assess

risk and reward.

Moderator: Tom Anderson, Vice Chairman and Founder, PENSCO Trust CompanyPanelists: Matt Balaker, Senior Investment Analyst, Mickelson Investment Management LLC

Robert L. Worthington, President, Hatteras FundsJeff Joseph, Managing Partner, Prescient Capital Partners

3:00 pm 4:00 pm Keynote AddressRoger Ibbotson, Founder, Ibbotson AssociatesGrand Ballroom A,B,CRoger Ibbotson has a long history in the investment management and research arena and now

is a partner in Zebra Capital Management, which manages equity long/short hedge unds. In

addition, he has directly managed bond portolios, traded equity securities and managed asset

allocation accounts. He is co-author oStocks, Bonds, Bills, and Infation Yearbook, the standardreerence or inormation on investment market returns. Hear his take on the economy, the

markets and how alternative investments t in to the big picture o investing.

4:00 pm Conerence Ends

Agenda


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AQR Capital ManagementAQR Capital Management LLC is a global provider o investment management services. The rm was

ounded in 1998 and is headquartered in Greenwich, Conn. With a diverse, global institutional client

base, the rm oers a wide range o investment products ranging rom traditional benchmark-driven

investments to pure alpha, absolute return strategies. AQR Funds were created to provide mutual

unds investors access to these alternative and innovative strategies.

Aston Asset Management LLCAston Asset Management, headquartered in Chicago, Ill., is a diversied institutional based

investment management rm. Our subadvisors (investment managers) are inherently ocused on

institutional process and investment perormance. Through our selection o institutional quality

investment managers with disciplined investment processes, our goal over time is to produce supe-

rior returns to our benchmarks with less risk. We oer a broad selection o mutual und products

and share classes or both individual and institutional investors. Separately managed accounts are

also available. Consulting with you, we deliver solutions that you can deliver to your clients.

Barclays Capital

Barclays Capitals Investor Solutions team works with investment advisors, such as RIAs, trustcompanies, and multi-amily oces, to create customized structured investments. The team is also

responsible or the sales , strategy, and product development o iPath Exchange Traded Notes.

Carey Financial LLCW. P. Carey and its non-traded real estate investment trust, Corporate Property Associates 17 Global

(CPA:17 Global), are pleased to be participating in the Financial Advisor/Private Wealth Conerence

on Innovative Alternative Strategies. Founded in 1973, W. P. Carey & Co. LLC (NYSE: WPC) is an invest-

ment management rm and leading global provider o long-term net lease nancing or corporations

worldwide. CPA:17 Global, W. P. Careys sixteenth oering, seeks to provide investors with stable,

rising income and capital preservation by ocusing primarily on tenant creditworthiness and invests in

a broadly diversied portolio o real estate assets by region, property type and industry.

FUNDS

Sponsors&

ExhibitorsPlatinum Sponsor

At Rydex|SGI, we are committed to oering investors greater potential to successully navigate diverse market condi-tions. We believe that providing high-quality investment choices, insightul research and investor education is al-

ways in avor. Oering a wide array o alternative investment strategies in addition to index-based and undamentalstrategiesincluding actively managed global, value, growth and fxed-incomewe endeavor to put our investors frstin all that we do. With more than $22 billion in assets under management, Rydex|SGI oers investors more than 100investment choicesincluding mutual unds and ETFs.


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Chartered Alternative Investment Analyst AssociationThe Chartered Alternative Investment Analyst Association is an independent, not-or-prot global

organization committed to education and proessionalism in the eld o alternative investments.

Founded in 2002, the CAIA Association is the sponsoring body or the CAIA designation. Recognized

globally, the designation certies ones mastery o the concepts, tools and practices essential or under-

standing alternative investments and promotes adherence to high standards o proessional conduct.

Chicago Board Options ExchangeChicago Board Options Exchange, the largest U.S. options exchange and creator o listed op-

tions, continues to set the bar or options trading through product innovation, trading technol-

ogy and investor education. CBOE oers equity, index and ETF options, including the S&P 500

and CBOE Volatility Indexes (VIX). CBOEs Hybrid Trading System incorporates electronic and

open-outcry trading, enabling customers to choose their trading method. CBOEdirect, a propri-

etary, state-o-the-art electronic plat orm, powers CBOEs Hybrid, the CBOE Futures Exchange,

CBOE Stock Exchange and OneChicago. CBOE is home to the world-renowned Options Institute

and www.cboe.com, named Best o the Web or options inormation and education.

DirexionDirexion Funds/Direxion Shares, managed by Raerty Asset Management LLC, is a major provider

o leveraged index unds and ETFs and alternative-class und products or investment advisors and

sophisticated investors who seek to eectively manage risk and return in both bull and bear markets.

Founded in 1997, the company has approximately $6.3 billion in assets under management. The

companys business model is built on continuous product innovation, exceptional customer service

and a commitment to building strategic relationships with distribution partners. For more inorma-

tion, please visit www.direxionunds.com.

DundeeWealth US LPDundeeWealth U.S. oers a broad range o investment strategies to institutional investors and wealth

management rms. We are a division o DundeeWealth Inc., one o Canadas largest and astest

growing investment rms, managing more than $37 billion in client assets. Our platorm includes

more than 50 investment strategies that range rom U.S., global and international equities to more

specialized alternative investment strategies including gold and precious metals, natural resources,

energy income trusts and Canadian equities. Investment oerings are available through separately-

managed accounts, mutual unds, and commingled vehicles.

Eaton VanceEaton Vance is one o the oldest investment management rms in the United States, with a history

dating back to 1924. Eaton Vance and its aliates oer individuals and institutions a broad array

o investment products and wealth management solutions. The Companys long record o provid-

ing exemplary service and attractive returns through a variety o market conditions has madeEaton Vance the investment manager o choice or many o todays most discerning investors.

Federated Investors Inc.Federated Investors has played a pioneering role in the nancial industry since 1955. As one o the

nations largest investment managers, Federated oers style-consistent investment products including

domestic and international equity, xed-income and money market mutual unds as well as a variety

o separately managed account options. Our diversied product line is distributed through a network

o nancial intermediaries and institutions who assist investors in meeting their unique objectives.

Federated understands the importance o diversication and allocation in reducing overall portolio

volatility. We continue to develop competitive and innovative products and create new applications or

existing products to meet investors evolving nancial needs.

TM


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FoliofnFolio Institutional is a division o FOLIOfn Investments, Inc., a sel-clearing broker-dealer and a

direct member o The Depository Trust & Clearing Corporation (DTCC) since 2001. With access

to innovative, patented online brokerage and investing solutions, advisors can maintain diversied

portolios o securities, retain hands-on control over investments, manage tax liabilities, eciently

rebalance portolios, produce reports, promote compliance, and take many other actions or the

clients benet. Folio Institutional provides custody and brokerage services or billions o dollars o

investor assets, and services to hundreds o registered investment advisors.

Fortigent LLCFortigent LLC delivers a ully integrated and customizable business-to-business outsourced wealth

management solution to banks, trust companies, and independent advisory rms. Services include

a comprehensive investment platorm with particular expertise in alternative investments, a fexible

unied managed account program, and consolidated wealth reporting. Fortigents web-based portal

interace allows access to proposal and rebalancing tools, client portolio reporting and accounting,

as well as industry articles, research papers, and other practice management and business develop-

ment resources. For more inormation, visit www.ortigent.com .

Fund Evaluation GroupFund Evaluation Group LLC (FEG) was ounded in 1988 with the goal o assisting organizations in

selecting exceptional investment managers and developing prudent investment programs. Total

client assets under advisement are over $27 billion (as o 9/30/09). Primary services include invest-

ment consulting and research, hedge und management and out-sourced discretionary portolio

management. Clients include institutional investors and nancial proessionals. FEG is a 100%

employee-owned rm and our revenues are derived solely rom our clients, both o which ensure

that FEG remains an objective investment advisor.

Grubb & Ellis Securities Inc.Grubb & Ellis Company is one o the worlds largest and most respected commercial real estate

services and investment management companies. The company is a leading sponsor o real estate

investment programs that provide individuals and institutions the opportunity to invest in a broad

range o real estate investment vehicles, including tax-deerred 1031 tenant-in-common (TIC)

exchanges, public non-traded real estate investment trusts (REITs) and real estate investment unds.

Grubb & Ellis sponsors Grubb & Ellis Apartment REIT, Inc. and Grubb & Ellis Healthcare REIT II, Inc.

For more inormation regarding Grubb & Ellis, please visit equityadvisors.grubb-ellis.com.Hatteras FundsHatteras Funds strives to be a leading provider o unique alternative investment solutions or nan-

cial proessionals. Founded in 2003, Hatteras oers investors the ability to access institutional-quality

alternative investments with condence. Hatteras believes all investors should benet rom the samesophisticated investment approach and portolio management talent as the largest institutions. We

reduce barriers that many investors ace when considering an allocation to alternative investments.

Hatteras oers a suite o alternative investment products designed to oer access to: hedge und

strategies with daily liquidity, hedge unds with 1099 tax reporting, hedge unds and private invest-

ments in one core allocation, global private equity, and venture capital.

Sponsors&Exhibitors


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Incapital LLCIncapital is a leading underwriter & wholesale distributor o xed income securities & structured

notes through a network o more than 900 broker-dealers, advisory rms, banks & institutions. With

a diverse range o new issue and secondary market oerings, Incapital specializes in U.S. Agency

securities, corporate notes, CDs, CMOs, municipal bonds, and structured notes. Incapital also pro-

vides resources or nancial advisors and investors to create income-producing portolios and notes

linked to a wide range o asset classes.

Invesco PowerSharesInvesco PowerShares Capital Management LLC is Leading the Intelligent ETF Revolution through its

amily o more than 110 domestic and international exchange-traded unds, which seek to outper-

orm traditional benchmark indexes while providing advisors and investors access to an innovative

array o ocused investment opportunities. With ranchise assets over $43 billion as o Dec. 31, 2009,

PowerShares ETFs trade on both U.S. stock exchanges. For more inormation, please visit us at

www.invescopowershares.com.

Lindner Capital Advisors Inc.Lindner Capital Advisors is a ederally registered investment advisor that was ormed in 1996 to

provide asset management services through an exclusive group o nancial proessionals and select

broker/dealers. LCA applies an academically sound strategy to portolio construction utilizing the

Nobel-prize winning principles o Modern Portolio Theory, asset allocation and institutional invest-

ing. Our traditional retirement, tax managed and 401(k) portolios are specically designed to meet

each clients investment, risk tolerance and time horizon goals. LCA is registered with CEFEX, an

independent global assessment and certication organization that determines whether the Adviser

conorms to Fiduciary Best Practices in the conduct o its business.

Mickelson Investment Management LLCMickelson Investment Management LLC is a division o Mickelson Capital Consulting LLC; a licensed

RIA rm with more than 17 solid years o experience creating and preserving wealth or our clients. Our

ocus is to provide solutions that are both uncorrelated to traditional markets and have strong return

potential. Our extensive in-house resources include teams o experienced proessionals who represent

Private Investment in Public Equity and sophisticated approaches to lie settlement investing and

monetizing insurance linked assets. Our client-centric ethic infuences how we manage our portolios,

resulting in an emphasis on transparency, investor advocacy, and risk management.

Millennium Trust Company LLCMillennium Trust Company is an industry leader in administrative and custodial services. Mil-

lennium custodies alternative and traditional assets in IRAs, Solo 401(k)s and custody accounts,

oers cost-eective 403(b) solutions , creates customized Automatic Rollover programs, provides

integrated Health Savings Account solutions and designs unique trading platorms or InvestmentAdvisors. Millennium Trust custodies more than 80,000 accounts. For more inormation, please

visit www.mtrustcompany.com.

Multi-Bank Securities Inc.Multi-Bank Securities Inc. (MBS) is an institutional xed-income securities broker-dealer commit-

ted to earning and preserving the respect o our customers by meeting their investment goals with

personal service, institutional investment expertise and progressive technologies. As an independent,

privately-held organization, you can be assured we provide broad market visibility and put your

interests rst. MBS oers a ull array o xed-income products in addition to being both a broker and

underwriter o insured certicates o deposit.

Mickelson Investment Management


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Options Industry CouncilOIC is an industry cooperative unded by the BATS Options, Boston Options Exchange, Chicago

Board Options Exchange, International Securities Exchange, NASDAQ OMX PHLX, NASDAQ Op-

tions Market, NYSE Amex Options, NYSE Arca Options, and The Options Clearing Corporation. OIC

was ormed in 1992 to educate investors and their nancial advisors about the benets and risks o

exchange-traded equity options. OICs resources include: The Options Industry Services Help Desk at

1-888-OPTIONS, educational Web sites at www.OptionsEducation.org, www.OptionsEducation.org/

advisor and www.OICoptions.com, evening seminars throughout the continental United States and

Canada, instructional DVDs and educational literature and sotware.

Pensco Trust CompanyPENSCO Trust Company is a leading custodian and administrator or sel-directed retirement ac-

counts. We specialize in providing services to investors and institutional clients such as RIAs whose

investors are interested in diversiying their portolios to include alternative investments such as

real estate and private equity. For more than twenty years, we have made it our mission to enable

Americans to maximize their retirement savings by inorming them o the true range o allowable

investment options. We strive to be the premier provider in our industry as measured by integrity,

service, and knowledge o alternative investing within retirement accounts.

ProFunds GroupProShares is part o ProFunds Group, the leader in leveraged and inverse unds. ProShares introduced

the rst leveraged and inverse ETFs in the U.S. in 2006. Since 1997, ProFunds mutual unds have

provided investors with access to sophisticated investment strategies.

Ridgewood Energy CorporationThe Ridgewood Energy Funds partner with leading oil companies to drill and develop oil and

natural gas projects in the U.S. waters o the Gul o Mexico. In our 27 year history, Ridgewood

has raised over $2.6 billion rom aluent investors, 80% o which has come rom repeat inves-

tors. The Ridgewood Energy Funds provide the opportunity or accredited investors to receive

monthly cash low rom the sale o any oil and gas that is produced; portolio diversiication

through energy commodities historically low correlation to the equities markets; and tax ben-

eits rom intangible drilling costs, depletion, and depreciation.

RS InvestmentsAt the core o our business are multiple world-class investment management and research teams,

each operating autonomously and oering our clients their unique perspectives. Our specialized

investment teams deliver research-driven value, core, and growth strategies as well as sub-advised

international and xed-income strategies. Staed with experienced proessionals, each team employs

distinct and well-dened investment processes. The dedicated research team approach assures that

our clients benet rom process consistency, investment excellence, and choice across disciplines.Founded in 1986, RS Investments manages separate accounts and mutual unds or individuals and

institutions. Oces are located in San Francisco and New York.

State Street Global AdvisorsState Street Global Advisors is an acknowledged leader in the arena o institutional investing with

$1.9 trillion in assets under management.1 An innovator in the exchange traded und market and

creator o the rst ETF in 1993, we currently manage 89 domestic and 25 international exchange

traded unds with approximately $204 billion worldwide in our SPDR ETF amily.2 Products oered

through State Street Global Markets LLC, member FINRA, SIPC. For urther inormation, including

prospectuses, visit spdrs.com or www.spdrgoldshares.com.1As of December 31, 2009 2As of December 31, 2009

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Steben & Co.For over 20 years, Steben & Company Inc. has specialized in bringing managed utures to sophisticated

investors. An industry leader, Steben uses its experience to help investors and their nancial advisors

understand managed utures and the potential benets to be gained rom adding them to an invest-

ment plan. Steben & Company Inc. is registered with the Commodity Futures Trading Commission

(CFTC) as a commodity pool operator and introducing broker, the Securities and Exchange Commis-

sion (SEC) as a broker dealer and investment advisor, and is a member o the National Futures

Association (NFA) and Financial Industry Regulatory Authority (FINRA).

Sterling TrustSterling Trust, a division o Equity Trust Company, is at the oreront o the sel-directed retire-

ment plan industry specializing in the custody o sel-directed IRAs , qualied business retirement

plans and non-qualied custodial accounts invested in alternative investments. Since 1974, we have

worked closely with nancial advisors and planners, broker-dealers, tax and legal proessionals,

investment product sponsors, mutual und companies, banks and other nancial institutions to help

your clients achieve greater portolio diversication. Today, Sterling Trust and its aliates provide

services to more than 140,000 individuals and businesses nationwide with approximately $10 billion

in assets under custodial and retirement administration.

TD AmeritradeTD AMERITRADE Institutional is a leading provider o comprehensive brokerage and custody services

to over 4,000 independent Registered Investment Advisors (RIAs) and their clients. We deliver smart

operational solutions, innovative technology, customized practice management and fexible invest-

ment solutions, all with one goal in mindimpeccable service. As steadast advocates or independent

advisors, we continually speak out to ensure that RIA needs and the needs o investors are always con-

sidered within the regulatory environment. When you choose to work with us, youll see how deeply

we are committed to your success. Visit us at www.tdainstitutional.com or call us at 800-934-6124.

Walton International Group Inc.Walton is a premier land acquisition, planning, development and management company in the

United States and Canada with approximately 58,000 acres* managed, syndicated, exited, or under

contract. Walton employs leading industry experts to ensure quality asset acquisition and manage-

ment along every step o the land investment process and makes a long-term commitment to the

communities in which it operates in order to create sustainable and livable environments. Walton is

well positioned to execute its all-cash business model in the current economic environment with a

ocus on path o growth investments in strategic Sun Belt sub-markets.

*Approximate as of 2/10/10.

WisdomTree Asset Management Inc.

WisdomTree is an exchange-traded und (ETF) sponsor and asset manager using its own undamen-tally weighted index methodology. WisdomTrees ETF line-up consists o 34 undamentally weighted

equity unds and 8 currency unds. WisdomTree also licenses its indexes to third parties or proprietary

products and oers a platorm to promote the use o WisdomTree ETFs in 401(k) plans. Approximately

$7.4 billion in assets currently are managed by WisdomTree or are managed against WisdomTree

Indexes by third parties under license rom WisdomTree. For more inormation, please visit

www.wisdomtree.com

Member FINRA/SIPC

Sponsors&Exhibitors


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the westin chicago river north

The Westin Chicago River North allows guests a chance

to experience relaxation and renewal while maintaining

access to all o their avorite city activities. In the heart o

Chicagos theater and fnancial district, the hotel provides

guests with easy access to entertainment as well as a

stunning view o the Chicago River. It also is down the road

rom the citys best shopping on Michigan Avenue.

18 miles from Chicago OHare International Airport

12 miles from Chicago Midway International Airport

All guest rooms come with high-speed internet access

Room Block Rate: $179/night (plus applicable taxes) Expires: July 9, 2010Please visitwww.altinvconference.com to reserve your room or call 312.744.1900

and mention the Innovative Alternative Strategies Conference.

sponsor and exhibit opportunities

Showcase your company to an exclusive audience o fnancial and wealth advisors, RIAs, Family Ofce

Principals and other attendees who are specifcally interested in Innovative Alternative Strategies.

Please contact David Smith at 732.450.8866, ext. 26 or [email protected]

Conference Admission

Continuing Education (CE) Credits

Pre-Conference Multi-Family Off ice Workshop July 26, 2010 Rate $149

Financial Advisor Rate: $249 (subject to approval) | Service Provider Rate: $1,495

This program is pending approval by the CFP Board and IMCA.

Discounted conference and pre-conference package available

Cancellations: If you are unable to attend, you may send a substitute delegate at no extra charge. Should you completely cancel, a $200 administration fee will be charged and we must receive a notice

of your cancellation in writing by June 27, 2010. No cancellation refunds/requests will be accepted after June 27, 2010. In the event of the conference being cancelled, Financial Advisor andPrivate Wealth

magazines assume no liability for nonrefundable transportation costs, hotel accommodations or any additional cost incurred by registrants.

who should attend

Financial Advisors RIAs Independent and Wirehouse Reps Private BankersEstate Planners Wealth Advisors Trust Ofcers Family Ofces

Insurance/Risk Managers Accountants Attorneys Other Centers of Inuence

Innovative Alternative Strategies

Documents

Transcript of Innovative Alternative Strategies