AGENDA

THURSDAY 28 MAY

11:00 - 11.30    > Welcome coffee and registration
11:30 - 18:00    > Investor Forum
18:30 - 19:30    > Cocktail Reception
19:30 - 22:00    > Gala Dinner & Awards Ceremony
22:00 - 00:30    > After Dinner Party      

PROGRAMME

Pending agreement from each speakers, the presentations should be available to download online in the next few days.

11.30   Chairman opening remarks
- Professor Piet Eichholtz, Maastricht University

11.35   Keynote: The importance of sustainability in a downturn.
- Liz Peace, CEO, British Property Federation

12.00   Panel: Risk management - more creative and forward thinking risk management is needed and pension funds will need to enhance their capabilities in this area. What are the key challenges in risk management going forward? How much more important has the subject area become since the downturn started?
- Dirk Söhnholz, Managing Partner, Feri Institutional Advisors
- Paul Clark, Director of Investments, Crown Estate Commissioners
- John Forbes, UK Real Estate Industry Leader, PriceWaterhouseCoopers

12.30   Buffet lunch

13.30   Panel: Pension fund governance - are pension funds up to the challenge of the new reality of investing in real estate? How are their internal competencies and systems developing and do they match the capabilities in other asset classes?
- Peter Pereira Gray, Managing Director Invest. Division, The Wellcome Trust
- Georg Inderst, independent consultant
- Richard Balfe, Chairman, MEP's pension fund

14.15   Keynote: The role of valuations - The drought of real estate transactions has brought the role of property valuations into sharp focus. Should valuers turn to market sentiment in absence of comparable data? Are mark-to-marketing assets that are being held in the long-term helpful to investors or does it just create volatility? Should valuations reflect the current price a property would attract if it had to be sold today or a more long-term sustainable value that would apply under normal market conditions?
- Steve Williams, Global Advisor, Real Capital Analytics

14.45   Panel: Retrench or advance? - Should investors focus on safeguarding existing assets and delay new investments until certainty returns to the market, or are they in danger of missing out on unprecedented investment opportunities? How can existing portfolios be strengthened to weather the downturn? Should investors be embracing new investment opportunities to capitalise on mispricing in the market, such as distressed assets, debt or real estate fund secondaries?
- Philip Menco, Managing Director, De Eendragt Pensioen N.V.V
- Tony Key, Professor Real Estate Economics, Cass Business School

15.30   Panel: Alignment of interests - progress to date and new challenges presented by the downturn. Are interests aligned between managers and pension funds? What are the potential and actual conflicts of interest and how can they be resolved? Are alignment models designed during the boom years fit for purpose in a downturn?
- Andrea Carpenter, Research Director, INREV
- Stephen Ryan, Senior Investment Consultant, Mercer
- Hermann Aukamp, Managing Director, Nordrheinische Aerzteversorgung

16.00   Coffee break

16.30   Panel: Have the real estate markets bottomed out?
- Lars Huber, Managing Director, Hines Europe
- Nicolas Simon, CEO, Crédit Agricole AM Real Estate
- Marcel Theebe, Mngr Capital Market Research & Information Centre, ING RE IM

17.00   New opportunities in real estate investments
- Anthony Biddulph, Senior Vice President, AMB Capital Partners, LLC
- Isabelle Scemama, Deputy Head of Corporate Finance, AXA Real Estate IM

17.30   Investor appetite in 2009 – How active do cross-border investors plan to be this year? A recent survey by AFIRE, which represents close to 200 international investors, forecast a marked up-tick in foreign real estate investment during 2009. What markets and sectors will they focus on? How attractive is the US market relative to its counterparts in Europe and Asia?
- James Fetgatter, CEO, Association of Foreign Investors in Real Estate (AFIRE)

18.00   End of investor forum