Rethinking Strategic Asset Allocation: Considering Liquidity and Risk Management

1. Register by
1/29/2010 &
Presents Save $1,399
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for details.
INVESTMENT SUMMIT TM
Rethinking Strategic Asset Allocation:
Considering Liquidity and Risk Management
March 24-25, 2010 New York, NY
• Pinpointing the asset classes that suffered the biggest losses over the past 18 months
• Dissecting what opportunities are available for foundations and endowments in the
post-2008 investing environment
• Debating whether the prospects for alternatives in foundations and endowments are as
good in the future as they have been in the past
• Learning how to shift portfolios from outdated investment strategies to asset allocations
that will better meet set investment objectives and achieve better liquidity
CONFIRMED SPEAKERS:
• Elaine Chan, Senior Investment • Cathleen Rittereiser, Co-Author, • Abel Mojica, Head of Corporate
Analyst-Private Equity Investments, Foundation and Endowment Investing: Development, Tortoise Capital
Robert Wood Johnson Philosophies and Strategies of Top Advisors
Foundation Investors and Institutions
• Frank Cullity Wilson, Executive
• Don Steinbrugge, • Nathan Fischer, Former CIO, The Chairman, TFS Corporation Ltd.
Investment Committee Member, Lumina Foundation for Education
Science Museum of Virginia • Susan Mangiero, President and CEO,
Endowment Fund • Stephen Viederman, Former Investment Governance, Inc.
President, Jessie Smith Noyes
• Kevin A. Edwards, Associate Vice Foundation • Georgeanne Perkins, Former Director
President for Treasury Services, of Private Equity, Stanford University
University of Connecticut • David J. Brophy, Director, Center for
Foundation Venture Capital and Private Equity • Mark Faro, Managing Editor,
Finance-Stephen M. Ross School of Foundation & Endowment Money
• Sonali Dalal, Associate Director of Business, University of Michigan Management
Investments, Penn State
University • Stewart Hudson, President, Emily • Thomas E. Flanagan, Managing
Hall Tremaine Foundation Director, New Providence Asset
• Jeff Pippin, Portfolio Manager, Management
Pepperdine University • Juan Carlos Artigas, Investment
Research Manager, World Gold • Lance R. Odden, Managing Director,
• Michael Lent, Trustee, The Council New Providence Asset Management;
Edward W. Hazen Foundation Former Headmaster, Taft School
Sponsors:
Media Partners:
WWW.FOUNDATIONSANDENDOWMENTSSUMMIT.COM

2. ATTEND AND NETWORK
WITH:
• Chief Investment Officers
• Treasurers
• Directors of Investment
• Chairs of Investment Committees
• Portfolio Managers
• Trustees
• Senior Investment Analysts
• Investment Managers
• Heads of Private Equity
INVESTMENT SUMMIT TM
•
•
•
Hedge Fund Managers
Finance Directors
Heads of Alternative Investments
• Index and ETF Providers
Dear Colleague, • Legal Experts
• Directors at Rating Agencies
• Senior Investment Consultants
Foundation and endowment portfol
ios have been deeply impacted by
the tumultuous economy over the
past two years, resulting in
significant losses. The Foundation
s & Endowments Investment ABOUT THE ORGANISER
Summit is the premier conference
designed to equip institutional
investment executives with the too
ls they need to explore the latest
trends in strategic asset allocation
and risk management. We are
gathering experts to discuss opportu Finance IQ and IQPC provide business
nities in alternative investments,
how endowments are approaching executives around the world with tailored
diversification in the rebounding practical conferences, large scale events,
economy and how to minimize risk topical seminars and in-house training
. programs, keeping them up-todate with
industry trends, technological developments
The Foundations & Endowments and the regulatory landscape. Finance IQ and
Investment Summit is the perfect IQPC’s large scale conferences are market
platform for institutional investors
to hear from their peers, leading leading “must attend” events for their
policymakers and top investment exec respective industries. IQPC produces more
utives. Attendees will share ideas than 1,500 events annually around the world,
through tailored interactive roundtab and continues to grow. Founded in 1973,
les, benchmark their portfolios
through case studies, and network IQPC now has offices in major cities across six
with fellow investment professiona continents including: Berlin, Dubai, London,
ls.
New York, Sao Paulo, Singapore, Stockholm,
Please take a few minutes to read Sydney, and Toronto. IQPC leverages a global
through the agenda, and visit our research base of best practices to produce an
website- www.foundationsandendo unrivalled portfolio of conferences.
wmentssummit.com for the latest
information on additional speakers.
I look forward to meeting you in
New York this March.
SPONSORSHIP AND
Kind regards, EXHIBITION
OPPORTUNITIES
Sponsorships and exhibits are excellent
opportunities for your company to
showcase its products and services to high-
level, targeted decision makers attending
the Corporate Health & Wellness Summit.
IQPC helps companies like yours achieve
Jenna Gottlieb important sales, marketing and branding
objectives by setting aside a limited number
Director, Foundations & Endow of event sponsorships and exhibit spaces –
ments Investment Summit all of which are tailored to assist your
Conference Producer, Finance IQ organization in creating a platform to
T : 212-885-2754 maximize its exposure at the event.
jenna.gottlieb@iqpc.com For more information on sponsoring or
exhibiting at this or other upcoming events,
please contact Mario Matulich at (212)
885-2719 or sponsorship@iqpc.com
2 WWW.FOUNDATIONSANDENDOWMENTSSUMMIT.COM

3. MAIN CONFERENCE DAY ONE
WEDNESDAY, MARCH 24, 2010
8:00 Registration & Coffee 1:50 Case Studies: Endowments Discuss Hedge Funds
• Pinpointing the concerns and risks associated with hedge fund
8:45 Chairperson’s Opening Remarks investing after the trauma of 2008
• Determining the appropriate hedge fund allocation in
9:00 Lessons Learned: Strategic Asset Allocation Then foundation and endowment portfolios and how to measure risk
and Now • Addressing liquidity and volatility concerns with sponsored
• Analyzing portfolio construction and investment themes, and funds, fund of funds, and discretionary accounts
determining where costly mistakes were made
Don Steinbrugge
• Pinpointing the asset classes that suffered the biggest losses
Investment Committee Member
over the past two years
Science Museum of Virginia Endowment Fund
• Debating whether alternative investments were worth the risk
and discussing asset allocation going forward and the need for
liquidity 2:50 Impact Investing Trends and Expected Returns
• Detailing opportunities in SRI, green and mission-based
• Providing an overview of asset allocation portions and how it is
investments including energy, cleantech, timber, and infrastructure
changing • Comparing SRI returns versus traditional models for foundations and
Jeff Pippin endowments as well as the long-term benefits and risks involved
Senior Vice President and Chief Investment Officer • Reviewing the rise of “terror-free” funds for faith-based
Pepperdine University foundations including SEI’s funds for Jewish organizations that
restrict investments in Iran and Syria
Georgeanne Perkins
Former Director of Private Equity Stephen Viederman
Stanford University Former President
Jessie Smith Noyes Foundation
Mark Faro
Managing Editor Michael Lent
Foundation & Endowment Money Management Trustee
The Edward W. Hazen Foundation
9:50 Investment Opportunities in the Infrastructure
Sector 3:40 Networking Break
• Discussing the strengths of infrastructure investing including low
operating costs and inflation-linked revenues 4:10 Asset Class Spotlight: Interactive Roundtable
• Reviewing the risk/return profile and the most attractive investment Discussions
opportunities for private and institutional investors The Foundations & Endowments Investment Summit is a great
• Understanding valuation and how large a role infrastructure assets opportunity to get a better handle on some of the alternative asset
should play in a diversified portfolio classes that may be of interest to you. Each roundtable discussion lasts
Abel Mojica one hour, and is led by an expert in that particular field. The uniquely
Head of Corporate Development informal format of the session enables you to brainstorm with your
Tortoise Capital Advisors peers regarding the suitability of that particular asset class for your
investment portfolio. Asset classes under the spotlight include:
• Hedge Funds
10:40 Networking Break • Private Equity
• Emerging Markets • Real Estate
• Commodities
11:10 Investing In Forestry: Another Means of Diversification • Infrastructure
• Forestry
• Pinpointing the advantages of investing in forestry such as achieving • Distressed Debt
• ETFs
traditional equity returns with fixed income volatility
• Measuring the risk associated with these asset classes and discussing
Juan Carlos Artigas
portfolio optimization strategies for family offices, foundations and Investment Research Manager
endowments World Gold Council
• Comparing forestry with other alternative asset classes, noting that the
(Confirmed for Commodities roundtable)
commodity has outperformed other commodities in both high and
low inflationary environments Abel Mojica
Head of Corporate Development
Frank Cullity Wilson Tortoise Capital Advisors
Executive Chairman (Confirmed for Infrastructure roundtable)
TFS Corporation Ltd.
Frank Cullity Wilson
12:00 Networking Luncheon Executive Chairman
TFS Corporation Ltd.
1:00 The Strategic Case for Investing in Gold (Confirmed for Forestry roundtable)
• Discussing that, on a risk-adjusted basis, gold performed better
than other assets such as domestic and international equities 5:00 End of Conference Day One
• Reviewing opportunities that are available for institutional and
private investors
• Exploring new vehicles including Gold Exchange Traded Funds,
which continue to attract new funds
Juan Carlos Artigas
Investment Research Manager
World Gold Council
3 Sponsors:

4. MAIN CONFERENCE DAY TWO
THURSDAY, MARCH 25, 2010
8:00 Registration & Coffee 1:30 Implementing Formal Liquidity Policies
• Analyzing the advantages of an increasing number of
8:30 Chairperson’s Opening Remarks endowments putting formal liquidity policies in place, similar to
investment policy statements
8:40 Re-Evaluating the Appetite for Risk • Outlining how policies are created, what’s included and the
• Addressing how steep market losses have led foundations and percentages behind them
endowments to re-examine how they measure risk • Hearing a case study of an endowment that recently instituted a
• Determining how much risk to take on and the use of stress tests formal liquidity policy and learn of their results
•
Examining asset mixing as a way to minimize risk to foundation and
Elaine Chan
endowment portfolios
Senior Investment Analyst-Private Equity Investments
• Reflecting on how smaller endowments have followed the ivy league
Robert Wood Johnson Foundation
approach, but underestimated the risks
David J. Brophy 2:20 Examining the Role of Alternatives after a Crisis
Director, Center for Venture Capital and Private Equity Finance-Stephen M. • Debating whether the prospects for alternatives in
Ross School of Business foundations and endowments are as good in the future as
University of Michigan they have been in the past
• Discussing private equity and venture capital investing, return
9:30 Charting the Road to Recovery and Managing expectations and where the best opportunities exist
Expectations • Explaining the long-term drivers for foundations and
• Learning how to shift portfolios from outdated investment strategies endowments to invest in emerging markets
to asset allocations that will better meet set investment objectives
• Dissecting what opportunities are available for foundations and Cathleen Rittereiser
endowments in the post-2008 investing environment and outlining Co-Author, Foundation and Endowment Investing:
the specific asset classes to consider allocating to over the next 18 Philosophies and Strategies of Top Investors and Institutions
months Susan Mangiero
• Weighing how the need for liquidity will impact investment decisions President and CEO
Kevin A. Edwards Investment Governance, Inc.
Associate Vice President for Treasury Services
University of Connecticut Foundation 3:10 Benchmarking: Critical to Effective F&E Portfolio
Management
Sonali Dalal • Simplifying the methods behind portfolio benchmarking and how
Director, Investment Strategy & Research to measure appropriately
Penn State University • Learning about hybrid benchmarks, some of which could consist
of up to seven indices
10:20 Networking Break • Addressing that size matters—many smaller endowments based
performance on the largest university endowments, but did not
10:50 Examining Outsourcing Trends and the Co-Fiduciary make adjustments for differences in risk
Model Nathan Fischer
• Determining when outsourcing is a good option for foundations
Former CIO
and endowments and reviewing the different business models The Lumina Foundation for Education
available such as a single model portfolio or a more customized
approach 4:00 Close of Conference
• Dissecting the compliance and fiduciary issues when outsourcing
including complex transition issues
• Hearing a case study of an endowment that recently outsourced its
CIO role POST CONFERENCE
Thomas E. Flanagan
Managing Director
New Providence Asset Management
WORKSHOP
4:15-5:45 (Registration 4:00)
Lance R. Odden
Managing Director Changing Investment Managers:
New Providence Asset Management Making the Process Less Painful
Former Headmaster After a jam-packed day of big picture panel discussions, case studies, and
Taft School presentations, the Foundations & Endowments Investment Summit gives you the
chance to meet and brainstorm with a small group of your peers during our
11:40 Pinpointing and Preparing for Future Operational post-conference workshop session. This is a great opportunity to dive into the
Challenges tricky details of a critical topic: changing investment managers.
• Discussing how to address potential investment issues including inflation
• Learning how to create an investment policy that allows investment What you will learn:
managers the flexibility to protect foundations and endowments from • Identify the communication difficulties between consultants, investment staff,
significant losses, without making the policy too broad and board members that can hamper effective decision making
• Understand the importance of qualitative expertise as a pre-requisite for
•
Sorting out what's real and what's not--how policy shapes investment
opportunities in the clean tech/natural resource space and how this will entering new markets and asset classes
• Create a clear, comprehensive checklist
play out at a federal, state and local level 2010-2011
Stewart Hudson How you will benefit:
President • Create effective, transparent procedures for introducing new asset classes into
Emily Hall Tremaine Foundation your portfolio
• Enhance communication between consultants, investment staff and board
12:30 Networking Luncheon members
• Strengthen the due diligence process and invest with greater confidence
4 WWW.FOUNDATIONSANDENDOWMENTSSUMMIT.COM

5. ABOUT OUR PARTNERS
SPONSORS
Founded in 1987, the World Gold Council, the marketing organisation formed and funded by the world’s
leading gold mining companies, represents 23 companies and more than 40% of private sector production.
The World Gold Council is an international, not for profit organisation, with offices in India, China, Japan, the
Middle East, Turkey, Western Europe and North America. As the gold industry’s key marketing body, we work closely with jewellery retailers,
manufacturers, wholesalers, banks, investment companies and distribution specialists to promote the use of gold in all its forms, be it jewellery, investment
or industrial applications.
Our work in the investment sector focuses on three core areas: research, communication and facilitating gold investment by improving the ease of access.
The World Gold Council does extensive work on communicating the investment case for gold to investors. We have built up a body of research that is
highly regarded and used by pension fund advisors, fund managers, precious metals analysts, private client advisors and central banks.
Our website, www.gold.org is the prime medium for publishing this research and statistics, as well as providing exhaustive information about gold.
TFS Corporation Ltd (ASX: TFC) is an owner and manager of Indian sandalwood plantations in the east Kimberley region of
Western Australia. As part of its vision to be a vertically integrated producer of finished sandalwood products, TFS owns a
significant proportion of the plantations in its own right and in 2008 acquired Mount Romance Australia (Mount Romance), the
Albany-based sandalwood processor and oil distributor.
TFS was founded in 1997 to exploit the success of government trials into the plantation growth of Indian sandalwood in the Ord River Irrigation Area
(ORIA) of north-east Western Australia.
TFS’s first planting was in 1999 and it now manages the largest area of Indian sandalwood plantation in the world, with 2,500 hectares planted in the
ORIA. The majority of the TFS plantations are managed on behalf of investors in Managed Investment Schemes.
TFS has a land bank of over 2,600 plantable hectares for future sandalwood plantings in the ORIA and at its Kingston Rest property 65 kilometres south of
the ORIA.
The company listed on the Australian Stock Exchange in December 2004 and is currently capitalised at over $200 million.
TFS is committed to adopting and maintaining the highest environmental and ethical standards in all aspects of its business. All plantations are grown on
land that has previously been used for agricultural or horticultural production. As the first ORIA land owner to recycle its water, TFS was the winner of the
2006 State Regional Water Award.
TFS was recently ranked as an industry leader in ethical and sustainable practices by Oekom Research, a leading international ratings agency.
In 2009, TFS entered the prestigious Forbes Asia Pacific's ‘Best Under a Billion’, which recognises the Top 200 companies from more than 25,326 publicly-
listed firms in the Asia/Pacific region with revenue of less than US$1 billion.
Tortoise Capital Advisors, LLC was founded in 2002 by an experienced team of investment professionals to provide energy
infrastructure MLP investment management services to individual and institutional investors. Our professionals pioneered and
refined a distinct strategy of investing primarily in diverse midstream oil and gas pipeline companies that charge a service fee
to transport energy products from production points to end users. Our MLP investments offer stockholders low commodity
risk, a high level of total return with an emphasis on reliable distributions. We manage four publicly-traded closed-end funds,
two privately held funds and separately managed accounts. Our "yield, growth and quality" objectives determine every investment decision we make. We
further diversify our investments among issuers, geographies and energy commodities to achieve a stable distribution yield that performs competitively
when compared to other business models with similar risk characteristics. As of Dec. 31, 2009 we had approximately $2.8 billion of assets under
management.
BLOOMBERG TRADEBOOK® is a leading global agency broker used by institutional traders, broker-dealers, hedge fund
managers, market-makers and portfolio managers worldwide. Tradebook provides a comprehensive front-toback execution,
clearing and settlement solution for equities, futures, options and FX instruments. Founded in 1996, Tradebook is a leading
electronic consolidator of global liquidity, offering its global customer base with trading solutions in over 60 global markets via
eight offices on five continents. Many leading buy-side institutions and broker-dealers have come to rely on Tradebook’s commitment to customer service
and unique blend of innovative trading algorithms and algorithmic trading strategies to help them seek best execution on one integrated platform.
New Providence Asset Management’s mission is to preserve and enhance the inter-generational wealth of tax-
exempt organizations and select high net worth clients by providing the complete services of a full-time investment
office. New Providence assumes responsibility and accountability for manager selection, asset allocation, and portfolio performance. A relationship with
New Providence is one of collaboration, partnership, and complete transparency. Our team has over 150 years of combined experience investing as
principals and invests substantial personal capital with the same managers and on the same terms as our clients. New Providence is an SEC Registered
Investment Adviser with close to $2.0 billion under management.
MEDIA PARTNERS
6 WWW.FOUNDATIONSANDENDOWMENTSSUMMIT.COM

6. Register by
1/29/2010 &
Presents Save $1,399
See page 5
for details.
INVESTMENT SUMMIT TM
Rethinking Strategic Asset Allocation:
Considering Liquidity and Risk Management
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2 Call: 1-800-882-8684
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