This two-day conference addresses key issues facing the European pensions and investment industry. It will examine best practices of top pension funds through case studies and panel discussions. Topics will include regulatory changes, risk management techniques, opportunities in emerging markets like Central and Eastern Europe, socially responsible investing, and the impact of new EU legislation. Speakers will represent major financial institutions and government organizations. The goal is to help pensions and investment firms benchmark strategies, understand regulatory impacts, and explore portfolio management approaches.

1. Find your reasons to attend
Accurate investment and regulatory compliance has never been more crucial.
With the value of the state pension falling, private or occupational pensions are
increasingly important and is proving to be a defining time for the European
pensions and investment industry. This two day conference will address the
main obstacles facing European Pensions and Investment with an aim to
tackling pensions head on. It will examine the best practices and strategies
implemented by top pension funds and finance institutions, covering the CEE
aspect of new opportunities for investment in emerging markets…. AND the
latest trends in the European pensions market. Through in-depth case studies and
interactive panel discussions varying factors and new requirements essential to
pensions and investment firms will be examined.
Benchmark your Investment Strategies & Specific Asset
Management Practices
Understand EU Legislation, Directives and Regulatory Policy
Changes
Compare & Analyse your techniques with other EU methods in
Portfolio management and Asset Allocation Strategies
Discover the latest developments in Alternative Investments: Hedge
Funds, Commodities, LDI
Assess different Risk techniques and Methodologies of Risk
Management
Integrate SRI, Corporate Governance & Principles of Investing
Ethically & Effectively
Explore the Possibilities & Challenges In Cross-Border Investment
For Western and Central Europe
Register
now!
Booking line: tel: + 420 257 218506, fax: + 420 257 218508, email: pensions@jacobfleming.com, www.jacobfleming.com
January 31st
– February 1st
2008
Vienna
Your prestigious speaker
panel
Colin Melvin, Hermes Equity Ownership
Services Ltd
Chief Executive Officer
Markus Zeilinger, Bonus Pensionskassen,
Vienna, Austria
Chief Executive Officer
Frank Curtiss, Railpen Investments
Head of Corporate Governance
Robert Parker, Credit Suisse
Vice Chairman - Asset Management
Bernard Delbecque, EFAMA
Director of Economics & Research
Brigitte Miksa, Allianz Global Investors AG
Head of International Pensions
Christoph Eibl, Tiberius Asset Management
Managing Partner & Head of Trading
Robert Sierhej, IMF
Senior Economist
Hafeez Ahmed, ABN AMRO Infrastructure
Capital Management Ltd
CFO & Executive Director
Gregor Hirt, Schroders Investment
Management
Multi-Asset Fund Manager
Denis Panel, BNP Paribas
Head of Risk Allocation
Dr. Gerhard Scheuenstuhl, Risklab Gmbh
CEO
Sanli Bas, Sanli Bas Law (Turkey)
Chief Executive
Dr. Nikolai Slavchev, Allianz Bulgaria
Pension Company AD, Chief Retirement
Schemes Analyst
Peter Schonewille, European Commission
- EU Taxation & Customs Union
Directorate General & Administrator
European Pensions &
Investment Conference 2008
Develop Cross-Border Strategies & Identify Emerging Hotspots
for Growth

2. Day 1 Thursday 31st
January 2008
8:30 Registration and Coffee
9:00 Opening remarks from the chair:
The Current Status and Recent Trends on the Market
Pension Fund Asset Management Across Europe
9:10 KEYNOTE OPENING ADDRESS
Overview of Pension Funds & Social Impact of An
Ageing Population-Old Age Dependency
• The current landscape in the European market & managing
the consequences of the pension fund deficit
• Implementing the differing procedures and investment
strategies from neighboring nations in the EU
• How the varying management concepts differ from country
to country as you head further central
• Q&A
Robert Parker, Credit Suisse
Vice Chairman and Global Head of Credit Suisse Asset
Management
9:50 Alternative investments in Multi Asset Portfolios:
an integrated approach
• Characteristics of Alternative investments: what makes them
so different
• Hidden risks when investing in alternatives
• The “Special Treatment” Required when Combining
Alternatives with Traditional Assets
• Schroders Case Study of Portfolio Optimization Integrating
Alternatives
Gregor Hirt, Schroders Investment Management
Multi-Asset Fund Manager
10:30 Morning Coffee and Networking
11:00 The European Market for DC Pension Schemes: The
Viewpoint of Investment Managers
• The Shift Towards DC in Occupational Pension Provision
• Key Aspects of DC Pension Scheme Design: Investment
Risk, Individual Choice, Governance and Costs
• Role of Investment Managers along the Value Chain of DC
Pension Provision
Bernard Delbecque, EFAMA (European Fund and Asset
Management Association)
Director of Economics & Research
The Role of Risk Management
11:40 New Approaches to Risk Management Applied
by European Pension Plans
• Measuring and Managing Risk Techniques and Risk-base
Supervision – Practical Uses
• The Better Approach for Risk Budgeting and Portfolio Risk
Construction
• Assessing and Controlling the Risk Factors in Retirement
Portfolio Management and Diversification
• Q&A
Denis Panel, BNP Paribas
Head of Risk Allocation
12:20 Implementing a Risk Management Framework Model.
Case Study of BONUS Pensionskasse
• Legal Regulations and Legal Requirements and their Special
Implication to a Risk-Management System (RMS) for an
Austrian pension company
• Best Practice Techniques in Risk Management;
Implementing the RMS at Bonus & How to Benefit from it
• Processes Undergone for Risk Management, Technical
Implementation of An RM-Software (input – technical
challenges; output - calculation of financial ratios, early
warning system)
• Q&A
Markus Zeilinger, Bonus Pensionskassen
Vienna, Chief Executive Officer
13:00 Luncheon
The CEE & Emerging Markets for Pension Funds
14:20 Central and Eastern European Pensions – Challenges
& Opportunities for Pension Investing
• Paths taken by EU member states for pension reform?
• Challenges and Barriers Facing CEE Investments?
• A look ahead at the Future of CEE Pension Investment
Funds
• Q&A
Brigitte Miksa, Allianz Global Investors AG
Head of International Pensions
15:00 The Case of Polish Pension Reform: Reforming
Pension Systems in CEE
• Pension reforms for CEE countries
• Available policy options and CEE approach to pension
reforms
• Pension reforms at work: Pension system conditions,
reshaping the PAYG system, post-reform developments, and
regulatory issues
• Conclusions and policy lessons
• Q&A
Robert Sierhej, IMF
Senior Economist
15:40 Afternoon tea and Networking
16:20 A New But Highly Accelerating Pension Market:
Case Study - Turkey
• The impressive momentum
• Individual Retirement,Savings and Investment Law and the
Fund portfolio restrictions
• Latest regulatory changes
Sanli Bas, Sanli Bas Pension Law
Chief Executive
17:00 Interactive Panel Discussion
The audience has an opportunity to ask questions and
open an interactive discussion with the speakers from the
morning session.
• Innovative Strategies for Portfolio Diversification
• Operations of Pension Funds in Regulated Markets
• Post-Reform Impact on Pension Funds in the CEE
• New Approaches for Risk Budgeting & Portfolio Risk
Construction
Panellists: Speakers from Day 1
17:40 Closing remarks of topics
covered throughout Day 1 from the chair
Speakers and delegates
are cordially invited to attend a
Networking Cocktail reception
Booking line: tel: + 420 257 218506, fax: + 420 257 218508
“And in the end, it’s not the years in your life that count. It’s the life in your years”, Abraham Lincoln

3. Day 2 Friday February 1st
2008
8:30 Registration and Coffee
9:00 Opening remarks from the chair
New Legislation & Its Regulatory Impact:
Directives & Policies Panning the EU
9:10 Elimination of Tax Obstacles To The Cross-Border
Provision of Occupational Pensions
• Tax Relief for Pension Contributions Paid to Pension Funds
in other Member States
• Taxation and the Cross-Border Transfer of Pension Capital
• Discriminatory Taxation of Investment Results of Foreign
Pension Funds
• Q&A
Peter Schonewille, European Commission - DG
Taxation & Customs Union
Directorate General & Administrator
9:50 EU Accession: Catching Up With The European
Retirement Renaissance: Case Study Bulgaria
• Bulgarian Pension System Architecture - Innovative
legal solutions and successful practice in Bulgarian
supplementary retirement provision,
• Challenges of EU legislation, the scheme design and the tax
incentives
• The compliance of Bulgarian pension companies to EU
directives and regulations
• Stages of Accession to EU Single Retirement Market (lessons
to learn from and to be learned)
• Q&A
Dr. Nikolai Slavchev, Allianz Bulgaria
Chief Retirement Schemes Analyst
10:30 Morning Coffee and Networking
SRI, Corporate Governance & Principles of
Responsible & Ethical Investing
11:00 The European Stance on Socially Responsible
Investment: Is SRI Adding Value?
• Case Study: Hermes and the BT Pension Scheme (UN
Principles for Responsible Investment Initiative).
• Q&A
Colin Melvin, Hermes Equity Ownership Services Ltd
Chief Executive
11:40 Corporate Governance & Responsibility: Adopting
Effective and Leading Standards
• Re-Designing the Pension Plan to Improve and Promote
Effective Corporate Governance
• Main Obstacles & Challenges when Implementing the
Corporate Governance Plan
• Monitoring Corporate Governance Performance.
Conducting & Implementing Internal Policies
• Q&A
Frank Curtiss, Railpen Investments
Head of Corporate Governance
Alternative Investments:
Paying Too Much? Is It Worth The Risk?
12:20 Investment Strategies & Asset Allocation:
Transition from Passive to Active – A New Trend or
A New Goal?
• What are the comparable and measurable differences/
benefits of passive vs. active strategies?
• Transitioning from passive to active strategies
• The key to generating alpha
• Tactical asset allocation – looking at active overlay
• Q&A
Christoph Eibl, Tiberius Asset Management,
Managing Partner & Head of Trading
12:20 Luncheon
14:20 Liability Driven Investments: Managing the
Pension’s Impact on the Balance Sheet
• Best-Practice LDI Management Approaches
• Monitoring and assessing your Effective LDI Strategy
Dr. Gerhard Scheuenstuhl, Risklab Gmbh
CEO
15:00 Afternoon Tea And Networking
15:40 Investment in Mature Markets versus Energy
Markets: Are They Good Investments For Pension
Funds?
• The benefits and disadvantages of mature markets in an
ageing world
• How robust and diversified are investment opportunities in
the energy markets?
Hafeez Ahmed, ABN AMRO Infrastructure Capital
Management Ltd, CFO & Executive Director
16:20 Interactive Panel Discussion
The audience has an opportunity to ask questions and
open an interactive discussion joined by key speakers.
• Pension funds role in social security together with their
investment responsibilities
• Opportunities for alternative investments in Emerging
Markets focusing on Real Estate & Hedge Funds
• New EU legislation and regulatory impact (Elimination of
Tax Obslacles)
Panelists: Speakers from Day 2
17:00 Summary of Strategic Interactive Lunch & Closing
Remarks of Topics Covered Throughout Day 2
from The Chair:
• Pension Investment Essentials for 2008 & Looking At The
Next 10 Years in the Pensions Industry
17:20 Farewell Coffee and Networking
I would like to thank everyone who has helped with the
research and organisation of this event, especially the speakers
for their support and commitment.
Caroline Palmer, Conference Producer
Caroline.palmer@jacobflemning.com
email: pensions@jacobfleming.com, www.jacobfleming.com
“Old age is like everything else. To make a success of it, you’ve got to start young”, Fred Astaire