No.9

09 July 2013 Venue: Chambre de Commerce, Kirchberg, Luxembourg To register: www.alfi.lu

29 March 2012

Dear Fund Industry Professional, ALFI is pleased to announce its latest Leading Edge Conference fully dedicated to analysing how best to implement the AIFM Directive and its consequences for the Asset Management industry. This one day event will combine a thorough legal and regulatory analysis, highly topical research and practical insights and technical workshops in the afternoon. This will provide an ideal opportunity for all industry stakeholders to gain a deep insight on what AIFMD means for them in practice.

AIFM Directive Implementation

An ALFI Leading Edge Conference Endorsed by AIMA and LPEA

9 July 2013

at the Luxembourg Chamber of Commerce, Kirchberg

The conference will be a unique opportunity to hear from and exchange views with industry leading experts on:

• Latest status update on the directive implementation • Management Company Concept: how will it work in practice ? • Distributing alternative and non-alternative funds under AIFMD • Overcoming implementation issues currently being encountered NEW: Program includes afternoon breakout sessions with technical workshops dedicated to: • The evolving role of the Depositary function under the AIFMD • Addressing the challenges of remunerations guidelines • Examining leverage and transparency requirements • Implementing a relevant risk management and governance framework

Please find the conference programme and the registration form on the following pages. We are offering ALFI, AIMA and LPEA members a special attendance fee starting at the early bird rate of €250 for payments made by the 7th of June 2013. The non-member rate is €550. We hope to have the pleasure of welcoming you to the conference. Yours sincerely Camille Thommes Director General

11 December 2012

08.00 Registration & Refreshments

8.30 - 8.35

Welcome Marc Saluzzi, Chairman, ALFI

8.35 - 8.50 Chairperson‘s introduction Michael Ferguson, Partner, Asset Management Leader, Ernst & Young

8.50 - 9.35 Setting-the-Scene T-12, where do we stand with AIFMD?

• The “Knowns” and “Unknowns” • CSSF latest position • Status of EU Member State Implementation • ESMA – the latest

Keith Burman, Senior Managing Director, State Street Global Services Claude Niedner, Partner, Arendt & Medernach

9.35 -10.05 Coffee Break

10.05 - 11.05 Management Company Concept: how will it work in practice?

• Delegation • Governance • Operating Models (Internal, Third Party, Self-Managed) • Substance

Moderator: Olivier Carré, Partner, PwC Luxembourg Panelists: Axelle Ferey, Director, Ernst & Young Alexander Taft, Managing Director, Invesco Real Estate AG, Munich Antonio Thomas, Chairman, RBS (Luxembourg) S.A. Sacha Reverdiau, Risk Manager, Nomura Global Funds Management

11.05 - 12.05 Distribution of AIFs • Passport • Private Placement • Reverse inquiry • 3rd country cooperation agreements • Reporting and Disclosure

Moderator: Christopher Stuart Sinclair, Director, Deloitte Panelists: Alain Dubois, Chairman of the Board, Lyxor Asset Management Jacques Elvinger, Partner, Elvinger Hoss & Prussen Mario Mantrisi, Chief Strategy and Research Officer, KNEIP

12.05 – 13.30 Buffet Lunch

17.05.2013 15:16

11 December 2012

Workshop A

DEPOSITARY ; - Cash Monitoring Contractual Arrangements - Oversight Duties - Custody – Prime Broker Operating Model - Case Study

13.30 - 13.35

Chairperson‘s introduction speaker to be confirmed

13.35 - 14.25 Case Study: Practical Insight from Depositaries with respect to cash monitoring / cash flow

Moderator: Kai Braun, Executive Director, Ernst & Young Panelists: Jean-Marc Crepin, Managing Director, Brown Brothers Harriman Yvan de Laurentis, Head of Depositary Bank & Investment Compliance, BNP Paribas Securities Frank Wassmer, Deputy General Manager, BNY Mellon

14.25 -15.15 T-12 days: Oversight Duties / Custody Network – are you prepared? Moderator: Hermann Beythan, Partner, Linklaters LLP Panelists: Gudrun Goebel, COO Crossborder Fund Processing Services, Société Générale Securities Services Luxembourg Isabelle Goethals, Head of Depositary and Regulatory Affairs, HSBC Securities Services (Luxembourg) S.A. Serge Weyland, Head of Regional Coverage for North America, CACEIS Bank (Luxembourg) other speakers to be confirmed

15.15 - 15.45 Coffee Break

15.45 - 16.30

Case Study: Impact of AIFMD on the Prime Broker / Depositary Relationship

Moderator: Jérôme Wigny, Partner, Elvinger Hoss & Prussen Panelists: Christiane Faltz, Head of Legal EMEA, State Street Global Services Luc de Vet, Managing Director, Citco Fund Services (Luxembourg) S.A. other speakers to be confirmed

16.30 – 17.00 New Depositaries on the block? Moderator: Freddy Brausch, Partner, Linklaters LLP Panelists: Jan Vanhoutte, Managing Director, Vistra Fund Services, Luxembourg other speakers to be confirmed

17.00 – 17.05 Chairperson‘s closing remarks

17.05 -18.35 Cocktail

- simultaneous afternoon workshops

11 December 2012

Workshop B

RISK MANAGEMENT / GOVERNANCE ; - Valuation Delegation - Liquidity Management - Substance, Operating Model, Governance - Case Study - Operational Risk

13.30 - 13.35

Chairperson‘s introduction Thommas Nummer, Managing Director, Carne Global Financial Services

13.35 - 14.25 Case Study: How will your operating model adapt to AIFMD? (substance, operating model, governance) Moderator: Graham Goodhew, Conducting Officer, JP Morgan Asset Management (Europe) Panelists: Christoph Adamy, Chief Risk Officer, Allianz Global Investors Luxembourg Henning Schwabe, Partner, Arendt & Medernach other speakers to be confirmed

14.25 - 15.15 Liquidity Management of AIFs Sven Muehlenbrock, Partner, Financial Risk Management, KPMG Other speakers to be confirmed

15.15 – 15.45 Coffee Break

15.45 - 16.30

Operational Risk for AIFs

Daniela Klasén-Martin, Managing Director, DCG S.A. Ravi Beegun, Partner, KPMG

16.30 - 17.00 Risk Management vs. Valuation Michael Derwael, Head of Risk Management, Lombard Odier Funds (Europe) S.A. Xavier Zaegel, Partner, Deloitte

17.00 - 17.05 Chairperson‘s closing remarks

17.05 – 18.35 Cocktail

- simultaneous afternoon workshops

11 December 2012

Workshop C

REMUNERATION - REPORTING - Propotionality Principles - Disclosure Requirements - Emasurement of Performance - Scope, ex-EU Territorial Impact

13.30 - 13.35

Chairperson‘s introduction Dan Hedley, Head of European Regulatory Policy, Fidelity Investment Managers, London

13.35 - 14.25 AIFMD – Remuneration – Latest update Moderator: Benjamin Collette, Partner, Deloitte Panelists: Dan Hedley, Head of European Regulatory Policy, Fidelity Investment Managers, London Christian Hertz, Managing Associate, Linklaters LLP Gast Juncker, Partner, Elvinger Hoss & Prussen other speakers to be confirmed

14.25 - 15.15 T-12 days: Reporting Obligations Nathalie Dogniez, Partner, KPMG Benjamin Gauthier, Senior Manager, PwC Luxembourg

15.15 – 15.45 Coffee Break

15.45 - 16.30

Case Study: Reporting - Practical Case (AIF & AIFM)

Moderator: speaker to be confirmed Panelists: Leon Schwab-Mulvany, Director, BlackRock (Luxembourg) S.A. other speakers to be confirmed

16.30 - 17.00 Implication of AIFMD Remuneration Rules on an EU and a non EU Asset Manager Moderator: Marie-Elisa Roussel, Partner, PwC Luxembourg Panelists: Geoff Radcliffe, Managing Director, BlackRock (Luxembourg) S.A. other speakers to be confirmed

17.00 - 17.05 Chairperson‘s closing remarks

17.05 – 18.35 Cocktail

v.5

09 July 2013