40 act alternative Fund - FRA, LLC

Financial Research Associates Proudly Presents The 2nd

E s ta b l i s h i n g a

'40 Act Alternative Fund The Ultimate Guide to Tapping into the Growing Liquid Alternative Space September 17 - 18, 2014

The Princeton Club, Midtown Manhattan

New Distribution Opportunities

Increased Investor Base Enormous Growth Rate

FACT:

Liquid Alternative F u n d s

Effectively Managing Liquidity Demands Analyzing Proper Costs and Fees Sub-Advising Your Strategy

Liquid alternative mutual funds grew at a rate of 51% in 2013, and are continuing to grow faster than any other segment of the mutual fund industry

As investor demand continues to drive MAJOR growth for liquid alternatives, ensure that you’ve got the blueprint to successfully prevail in this space!

D a y

1

Delves deep into the operational implications of a ’40 Act alternative fund

D a y

2

Focuses on how to boost your fund’s distribution opportunities

Attend day 1, day 2, or get the maximum level of insight and attend both days! Whether you’re looking at getting into the space or are already there and looking at further growth, then you can’t afford to miss out on this one-of-a-kind event! Silver Sponsors

To Re g i s t e r : C a l l 8 0 0 - 2 8 0 - 8 4 4 0 o r v i s i t u s a t w w w. f r a l l c . co m

Bronze Sponsors

Demand for ’40 Act alternative funds is at an all-time high! In just the first quarter of this year alone, there was $2.7B in net-inflows

The Conference Organizer Financial Research Associates provides the financial community with access to business information and networking opportunities. Offering highly targeted conferences, FRA is a preferred resource for executives and managers seeking cutting-edge information on the next wave of business opportunities. Please visit www.frallc.com for more information on upcoming events.

Top Reasons to Attend •

in the multi-alternative category. Liquid alternatives are growing much faster than any other segment of the mutual fund industry. This is the

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new frontier of investment management and gaining a solid competitive

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edge plays an essential role in the pursuit of prosperity. This is why our

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Establishing a ’40 Act Alternative Fund conference truly can’t be missed! Whether your fund is up and running or you’re looking at getting

•

into the game, this program delivers a fine mix of practical guidance with

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cutting-edge insight and strategy from some of the key players in the

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liquid alts universe. •

Gain useful tips on how to successfully distribute your fund in the retail market Learn which products and strategies are truly having the most success in the liquid alternative space Develop an effective and cost-efficient operational blueprint that will allow your fund to thrive Position yourself for success by truly understanding key investor and platform selection criteria Find out how performance is being measured in the liquid alt space Evaluate the pros and the cons of sub-advising your strategies to other funds Compare various distribution channels to understand what methods will work best for your fund’s strategies Explore different fee and pricing structures

What’s especially unique about this program is the design. On day one Successfully Operating a ‘40 Act Alternative Fund - we’ll take a deep dive into what it takes to efficiently run a fund in this space. On day two - ‘40 Act Alternative Fund Growth Strategies - we’ll explore the overall marketplace and how to distribute your fund through various lucrative channels. Attend day one, day two, or for optimum value and substance attend both days! As investor demand continues to call for lower fees, greater transparency and sophisticated strategies, ensure that your fund has the ultimate plan

Who Should Attend? This program is designed for asset management professionals who want to explore the vast opportunities in the growing liquid alternative space. This includes the following: • • • •

Hedge fund professionals Mutual fund professionals Registered investment advisors Fund distribution professionals

• • • • • •

Broker dealers Commodity trading advisors Investment advisors Fund administrators Compliance professionals Attorneys

in place to deliver. Register today and get ready to network with key players in the space while getting tips and techniques on how to truly cultivate success!

Sponsorship and Exhibit Opportunities Enhance your marketing efforts through sponsoring a special event or exhibiting your product at this event. We can design custom sponsorship packages tailored to your marketing needs, such as a cocktail reception or a custom-designed networking event.

Sincerely,

Erin Busch Erin Busch, Conference Director FINANCIAL RESEARCH ASSOCIATES, LLC

To learn more about sponsorship opportunities, please contact Menna Lloyd-White at 704-341-2440 or [email protected]


Successfully Operating a ‘40 Act Alternative Fund

DAY ONE: WedNesday, Sept. 17, 2014

8:00 – 9:15 Continental Breakfast and Registration 9:15 – 9:30 Chairperson’s Welcome Chairperson: TBD

2:10 – 3:00 Evaluating the Costs and Fees of a Liquid Alternative Fund •

• •

Analyzing the costs – what is the breakeven point? ŘŘ Internal and external costs ŘŘ Operating as cost-efficiently as possible ŘŘ Legal fees Structuring fees in the mutual fund space ŘŘ Trends in fee structures – is there a standard? ŘŘ 12(B)1 fees Series Trusts ŘŘ Different versions ŘŘ Pros and cons

9:30 – 10:40 Understanding Legal and Compliance Aspects of Launching and Operating a Liquid Alternative Fund

Gregory Parcella, Director LONG SHORT ADVISORS

In this session we will break-down the various regulatory and compliance considerations in this space. We’ll discuss:

Mike Beattie, Managing Director SEI

• • • • • • •

3:00 -3:20 Refreshment break sponsored by

The Investment Company Act of 1940 – The basic rules of the road Leverage and segregated asset coverage Liquidity and valuation issues Compliance and risk management considerations CFTC and other regulatory matters Pre-trade compliance and post-trade compliance Board-related matters

Alan Gedrich, Partner STRADLEY RONON STEVENS & YOUNG, LLP James Hannigan, Vice President THE BLACKSTONE GROUP

• • • • •

Shannon Behara, Partner ACA COMPLIANCE 10:40 – 11:00

3:20 – 4:10 Sub-Advising Your Strategies to Other Funds – A Cost-Friendly Alternative?

Refreshment break sponsored by

Cost considerations and profitability considerations Portfolio management and construction – what strategies work in this space? The due diligence process of selecting managers ŘŘ How to win mandates ŘŘ How to lose mandates Preserving performance in a multi-manager environment Compliance requirements to become a sub-advisor

Moderator: Kenneth Beitler, CFA, Investment Specialist METLIFE

11:00 – 12:00 ’40 Act Primer – A Comprehensive Overview of the ’40 Act Space and How Alternatives Can be Integrated in

Speakers: Andrei Marinich, CFA, CIMA, Vice President, Portfolio Construction PRUDENTIAL INVESTMENTS LLC

• • • • •

Frederick C. “Rick” Lake, Co-Founder, Co-Chairman LAKE PARTNERS

Which strategies fit under the ’40 Act umbrella and which do not? Friends and foes – a look at players in this space Closed end vs. open end funds Challenges to development and delivery of funds Staffing considerations

Brad Balter, CFA, CEO and Portfolio Manager BALTER LIQUID ALTERNATIVES LLC W. Bradford McMillan, CFA, Chief Investment Officer COMMONWEALTH FINANCIAL NETWORK Ryan Tagal, Vice President – Product Management ENVESTNET | PMC 12:00 – 1:10

Networking Luncheon

1:10 – 2:10 The Mechanics of a Successful BackOffice – Managing Daily Operational Challenges Affecting ’40 Act Alternative Funds •

Daily NAV best practices ŘŘ Who should be responsible for what? ŘŘ Managing daily cut-off times • The tri-party agreement ŘŘ Effectively managing the relationship between your PB and custodian • Daily reporting ŘŘ What all needs to be done and by when? ŘŘ How do you effectively manage the reporting process? • Managing the operational hurdles of derivatives • Custody issues to be on the lookout for and how to address them R. Jeffrey Young, Senior Vice President HUNTINGTON ASSET SERVICES

Amy Duling, Head of Product Development NATIONWIDE

Sean Crawford, Manager Research and Selection BROWN BROTHERS HARRIMAN

4:10 – 5:00 Key Start-Up Issues: Lessons Learned From Established Funds We’ll hear from those who have gone through the process of launching their alternative strategy into a ’40 Act mutual fund. • • •

What went right? What went wrong? What were the big surprises while going through the process?

Moderator: Joel L. Weiss, Managing Director/US Fund Accounting and Administration BNY MELLON ASSET SERVICING Speakers: Doug Fincher, Portfolio Manager IONIC CAPITAL MANAGEMENT Thomas Kirchner, Portfolio Manager QUAKER FUNDS Nadine K. Haidar, Head of Liquid Alternatives Platform Management RAMIUS LLC

5:00

Networking Reception

To sponsor the reception contact Menna Lloyd-White at 704-341-2440 or email [email protected]

Boris Onefater, President and CEO CONSTELLATION INVESTMENT CONSULTING


‘40 Act Alternative Fund Growth Strategies

DAY TWO: Thursday, Sept. 18, 2014

8:00 – 9:00 Continental Breakfast and Registration 9:00 – 9:10 Chairperson’s Welcome Chairperson: TBD

12:20 – 1:30

Networking Luncheon

1:30 – 2:30 Keys to Drawing Independent Channels for Distribution With so many mutual funds out there, how do you get your fund on advisors’ radars? There’s really not really a “one-size-fits-all” methodology. This panel will provide insight on what RIAs, IBDs and family offices are looking for from an alternative mutual fund Moderator: TBD

9:10 – 10:10 State of the Market – How Alternative Strategies are Making Their Way into the ’40 Act Space

Speakers: Matthew Andrulot, Director of Asset Strategy HIGHTOWER ADVISORS

• • • • •

Richard Bregman, CFA, Investment Advisor, CEO MJB ASSET MANAGEMENT LLC

Current research findings and data on alternative mutual funds Where’s the market going and where will the trends be? What strategies fit under the ‘40 Act umbrella? What have been the drivers of interest? How closely are ’40 Act alternatives performing to their hedge fund counterparts?

Josh Charlson, Director, Alternative Funds Research MORNINGSTAR

Dennis Bowden, Assistant Director, U.S. Research STRATEGIC INSIGHT

10:10 – 11:00 Measuring Performance in the Liquid Alternative Space How are alternative mutual funds being evaluated? Calculating qualitative and quantitative assessments Understanding which benchmarks to use Use of peer group benchmarks – pros and cons

Justin Frankel, Portfolio Manager RIVERPARK STRUCTURAL ALPHA FUND Ryan Tagal, Vice President – Product Management ENVESTNET | PMC 11:00 – 11:20

Refreshment and Networking break

11:20 – 12:20 The Ins and Outs of the Distribution Process • • •

• • • • •

2:30 – 3:00

A look at the various distribution channels and their pros and cons What are the major wirehouse platforms looking for from alternatives? Best practices for approval on investment platforms ŘŘ What investment strategies are in-demand? ŘŘ What are the minimum requirements for approval? ŘŘ What are the best practices for introducing your fund? ŘŘ How do you offset the fees in this space? What is the due diligence process like in this space and how does it differ among platforms? What is the best way to distribute a brand new fund? Building in-house marketing/sales capabilities vs. third party marketing Track records vs. assets under management: the right combination Marketing modified: qualified investors vs. retail investors

Moderator: Paul Weisenfeld, Partner PERELLA WEINBERG PARTNERS Speakers: James Langham, Managing Director, Mutual Fund Products UBS FINANCIAL SERVICES

Refreshment break

3:00 – 4:00 The Formula for Success - Optimizing Your Sales and Marketing Team •

David Eisenberg, CFA, Partner MERCER

• • • •

Scott Crenshaw, CFA, Member SOUNDRIVER ADVISORS

• • • • •

How are successful funds customizing their sales and marketing strategies in the alternatives space? Use of third party marketing How do you measure certain sales strategies? Innovations in marketing materials Tips on how to convey your alternative strategy in layman’s terms Effective use of social media

Moderator: Brian Haskin, CEO ALTERNATIVE STRATEGY PARTNERS Speakers: Gui Costin, Managing Director DAKOTA FUNDS GROUP Stephen Kaplan, Head of Product Strategy Americas J.P. MORGAN FUNDS Christine Johnson, Managing Director – Head of Alternative Product Management ALLIANCEBERNSTEIN

4:00 – 5:00 Space • • • • • • • •

Opportunities in the Retirement

The state of the DC market – current trends and outlook of what’s ahead How are alternatives being used in the retirement space? What type of strategies are retirement platforms open to (and why)? How to package How are 401k plans managing their exposure to alternatives? Cash flow timing in a retirement income context Fitting in: how your strategy supplements core investments Lifecycle funds – how do you get your fund into that space?

Moderator: TBD Speakers: James Macey, Portfolio Manager ALLIANZ GLOBAL INVESTORS Marc Pester, Senior Vice President, Institutional Solutions PRUDENTIAL FINANCIAL

Benjamin Huneke, Managing Director MORGAN STANLEY WEALTH MANAGEMENT

Mark Fortier, CFA, Head of Global DC Research and Product Development STATE STREET GLOBAL ADVISORS

Ricardo L. Cortez, CIMA, Co-Chief Executive Officer BROADMARK ASSET MANAGEMENT LLC

5:00

Day Two Sessions Adjourn


IMPORTANT INFORMATION To Register: Fax: 704-341-2641 Mail: Financial Research Associates 18705 NE Cedar Drive Battle Ground, WA 98604 Phone: 800-280-8440 Online: www.frallc.com Establishing a ’40 Act Alternative Fund September 17-18, 2014 The Princeton Club 15 West 43rd Street, New York, NY 10036 (212) 596-1200 If you require overnight accommodation for this conference, please contact any of the following nearby hotels to check their best available corporate rate over this time frame, or consult your local travel agent. Please note that FRA has not negotiated rates with any of these hotels.

Area Hotels: Mansfield Hotel – (212) 944-6050 Algonquin Hotel – (212) 840-6800 City Club Hotel – (212) 921-5500 Royalton Hotel – (212) 869-4400 Iroquois Hotel – (212) 840-3080 Sofitel Hotel – (212) 354-8844

FEES AND PAYMENTS The fee for attendance at the Establishing a ’40 Act Alternative Fund is: $1295 for Day 1- Successfully Operating a ‘40 Act Alternative Fund Only (Sept. 17) (B933A) $1295 for Day 2 - ‘40 Act Alternative Fund Growth Strategies - Only (Sept. 18) (B933B) $1995 BEST VALUE for BOTH informative days (B933) Please make checks payable to Financial Research Associates, and write code B933 on your check. You may also pay by Visa, MasterCard, Discover, or American Express. Purchase orders are also accepted. Payments must be received no later than September 10, 2014. Team Discounts: • Three people will receive 10% off. • Four people will receive 15% off. • Five people or more will receive 20% off. In order to secure a group discount, all delegates must place their registrations at the same time. Group discounts cannot be issued retroactively. For more information, please contact Kathie Eberhard, 704341-2439 or [email protected] REFUNDS AND CANCELLATIONS For information regarding refund, complaint and/or program cancellation policies, please visit our website: www.frallc.com/thefineprint.aspx

CPE Credits

Silver Sponsors Stradley Ronon is nationally recognized for having one of the premier investment management practices in the United States, representing investment management clients with more than 1,000 separate mutual funds and assets under management approaching nearly $2 trillion. With over 50 professionals, our practice group is exclusively dedicated to representing SEC-registered funds (including those funds containing “alternative investments”), investment advisers, hedge fund sponsors, managers, administrators, directors/ trustees, underwriters/distributors and unregistered funds. www.stradley.com “At Huntington, we understand asset managers endeavor to protect and grow their brand for their shareholders. These goals are achieved through maximizing performance to optimize asset gathering within a risk-averse environment. Huntington Asset Services welcomes the opportunity for a close, consultative relationship, leveraging our Midwestern colleagues, our institutional platform, and our unique distribution model to your advantage. Grounded in 50 years of service experience, we provide integrated accounting, administration, distribution, custody and Series Trust solutions, targeted to help you achieve your goals, and supported by extensive industry knowledge, leading technology, and a strong focus on compliance.” SEI’s Investment Manager Services division provides comprehensive operational outsourcing solutions to support investment managers globally across a range of registered and unregistered fund structures, diverse investment strategies and jurisdictions. With expertise covering traditional and alternative investment vehicles, the division applies customized operating services, industry-leading technologies, and practical business and regulatory insights to each client’s business objectives. SEI’s resources enable clients to meet the demands of the marketplace and sharpen business strategies by focusing on their core competencies. BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of March 31, 2014, BNY Mellon had $27.9 trillion in assets under custody and/ or administration. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK) Citco is a global leader in the provision of administration and financial services to the alternative investments industry. Citco Mutual Fund Services is dedicated to helping alternative managers launch and operate 40 Act funds. Services include fund administration, accounting, transfer agency, custody, and distribution support. Citco’s administration business currently administers more than 2,000 funds with net assets exceeding $800 billion and offers full service fund administration from a global network of strategic centers.

Bronze Sponsors

Media Partners

Financial Research Associates, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www. learningmarket.org. The recommended CPE credit for this course is 6.5 credits (For each day of attendance) in the following field of study: Management Advisory Services For more information, visit our website: www.frallc.com/thefineprint.aspx


alternative assets. intelligent data.

The 2nd Establishing a ’40 Act Alternative Fund

Financial Research Associates 200 Washington St. Ste 201 Santa Cruz, CA 95060

The Ultimate Guide to Tapping into the Growing Liquid Alternative Space

To Register: Fax:

(704) 341-2641

Call:

(800) 208-8440

Online:

www.frallc.com

Mail:

Attention Mailroom:

If undeliverable, please forward to the

Chief Operating Officer

Financial Research Associates 18705 NE Cedar Drive

Battle Ground, WA 98604

Please Mention This Priority Code When Registering Yes! Register me for BOTH days: $1995 (B933) Yes! Register me for Day 1- Successfully Operating a ‘40 Act Alternative Fund - Only (September 17): $1295 (B933A) Yes! Register me for Day 2 - ‘40 Act Alternative Fund Growth Strategies - Only (September 18): $1295 (B933B) Please call me; I’m interested in a group discount for my team. Please call me; I’m interested in exhibition or sponsorship opportunities at this event. I wish to receive updates on FRA’s upcoming events via fax, email and phone. Signature: Name

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Financial Research Associates Proudly Presents The 2nd

E s ta b l i s h i n g a

'40 Act Alternative Fund The Ultimate Guide to Tapping into the Growing Liquid Alternative Space September 17 - 18, 2014 New Distribution Opportunities

Increased Investor Base Enormous Growth Rate

The Princeton Club, Midtown Manhattan

Liquid Alternative F u n d s

Effectively Managing Liquidity Demands Analyzing Proper Costs and Fees Sub-Advising Your Strategy
