Day 2 – 12th November

Day 2 – November 12th 2008

08.45 Registration and coffee

09.00 Chairman’s welcome address

09.10 Searching for Alpha in MENA

• Should investors look for Alpha in the MENA markets?
• Strategies to achieve long term Alpha in the MENA markets
• Pre-requisites to successfully execute such strategies
• Means to managing risk in the MENA markets

Tarek J. Sakka, CEO, AJEEJ CAPITAL

09.50 Alternative Asset Allocation: Investing like the Harvard and Yale Endowment Funds

• Does Asset Allocation really account for 90% of return/risk
• Modern Portfolio Theory: Still valid after 50 years?
• Index Investing: Are 90% of actively managed funds outperformed by the Index?
• Alternative Asset Classes: What benefits and risks do these asset classes bring?
• Case Study: The Harvard and Yale Endowment Funds

Mike Azlen, CEO, FRONTIER CAPITAL MANAGEMENT

10.30 Morning coffee and networking break

10.50 Shariah Supervision of the Al Safi Trust: A moderated question and answer session with members of the Al Safi Trust Shariah Supervisory Board

• What factors contribute to platform transparency?
• What criteria are used in the Shariah screening of equities?
• Which hedge fund strategies are compliant?
• How does the Arboon short sale solution work?
• What does the ability to hedge mean to Islamic finance?

Moderator: Shaykh Yusuf Talal De Lorenzo, Chief Shariah Officer, SHARIAH CAPITAL
Shaykh Nizam Yaquby (Bahrain)
Dr. Daud Bakr (Malaysia)
Dr. Abdur Rahim Al Olama (UAE)

11.30 Is a Shariah compliant hedge fund solution a compelling marketing strategy for gathering assets?

Dr. Frank Gerhard, Head of Fund-linked Derivatives Product Strategy, BARCLAYS CAPITAL

11.50 Individual fund presentations by Al Safi Platform Managers

Moderator: Dr. David Rutledge, CEO, DUBAI MULTI COMMODITIES CENTRE AUTHORITY
Russell Lucas, Co-Founder and Managing Member, LUCAS CAPITAL MANAGEMENT
John Hathaway, Portfolio Manager, Senior Managing Director,
TOCQUEVILLE ASSET MANAGEMENT

12.50 Lunch

14.00 Opportunities in Russia and the CIS

- Russian investment case: Political and economic overview
- Hedge funds industry in Russia
- Use of hedging tools
- Investment themes

Peter Halloran, CEO, PHAROS FINANCIAL GROUP

14.40 Opportunities in emerging markets

- Strategies to benefit from dislocated markets
- Emerging market credit – equity returns for fixed income risk

Uday Patnaik, Senior Investment Officer, GIB UK
Azhar Hussain, Head of Fund Products, GIB UK

15.20 Panel: The future of hedge fund investing in the Middle East

• What developments can we expect in the short to mid term
• How will the risk appetite of investors develop?
• Will the region be able to compete on a global level?

Zeeshan Ali, Senior Fund Manager, MENASA, RENAISSANCE INVESTMENT MANAGEMENT
Eric Meyer, President, Chief Executive Officer, and Executive Chairman, SHARIAH CAPITAL
Bindesh Shah, Co-Founder, AMIRI CAPITAL

16.00 Chairman’s closing address

16.10 Close of conference