7th annual Nordic Investors Forum, 7-8 September 2010 Growing returns by effective diversification and reading the future financial landscape After a challenging year and a half, confidence is returning to Nordic institutional investors, who have spent the last year redressing their investment strategies to suit the changed economic landscape. Yet with positive global economic forecasts for 2010, this is the right time to start planning for the upturn and invest in future areas of growth. ➔ Roubini predicted the recession in 2006; hear what its economists have to say about the recovery in the global markets and how it will affect the Nordic region ➔ Find out how the coming Solvency II rules and financial reporting will affect asset allocation, with the Senior Advisor to PRI Pensiongaranti ➔ Gain an understanding of where future opportunities will lie in various asset classes from commodities and private equity to real estate ➔ Hear from successful investors in the region on how they have made gains in the current climate, with case studies by CIO’s of PP Pension and APG ➔ Benchmark your investment, manager selection criteria and asset allocation strategies against those of your peers, with SPP, Folksam, Skandia Liv, and Nordea Find out more at www.nordicinvestorsforum.com

1. Free for pension
presents the 7th Annual funds until 25th June*
Nordic Investors
Forum 2010
Growing returns by effective
Your VIP 2010 speaker
faculty includes:
Ronald Wuijster,
Head of Strategy and
Research, APG Investments
diversification and reading the Cecilia Thomasson
Blomquist,
future financial landscape Chief Investment Officer, PP
Pension
7 – 8 September 2010 | Hilton Slussen Stockholm Staffan Hansén,
Investment Director, SPP
➔ Roubini predicted the recession in 2006; hear what its Mikael Dahlin,
economists have to say about the recovery in the global Head of Alternative
markets and how it will affect the Nordic region Investments, Folksam
Birgir Stefánsson,
➔ Find out how the coming Solvency II rules and Investment Manager,
financial reporting will affect asset allocation, with Pension Fund for State
Employees LSR
the Senior Advisor to PRI Pensiongaranti Heli Huhtala,
➔ Gain an understanding of where future opportunities Head of Investments, Bank of
Finland
will lie in various asset classes from commodities and Peter Lindblad,
private equity to real estate Senior Advisor and
former President, PRI
➔ Hear from successful investors in the region on how Pensionsgaranti
they have made gains in the current climate, with case Per Lindgren,
studies by CIO’s of PP Pension and APG Head of Manager Selection,
Skandia Liv
➔ Benchmark your investment, manager selection Lars Frisell,
criteria and asset allocation strategies against Chief Economist,
those of your peers, with SPP, Folksam, Skandia Liv, Finansinspektionen Swedish
FSA
and Nordea Svante Bergstrom,
Fund managers, Brummer
www.nordicinvestorsforum.com and Partners
Arnab Das,
Managing Director, Roubini
Global Economics
Jerome Booth,
Head of Research, Ashmore
Investment
Patrik Safvenblad,
Investment Partner, Harmonic
Capital
Sponsors Jauri Hakka,
Executive Director, Fund &
Manager Selection, Nordea
h and Investment Management
“Speakers were good and the content was fres
of participants” Lars Lovgren,
relevant. Good event and good mix
Man aging Director, rBS Head of Hedge Funds, DnB
NOR Asset Management
“Good quality attendees - keep it up!” Yngve Jordal,
General Partner, West LB Director of Hedge Funds,
Orkla Finans
Fabio Quaradeghini,
Media Partners Senior Fund Manager,
Landsbanki
Jesper Kirstein,
Chief Executive Officer,
Kirstein Finans
Jan Bernhard Waage,
Managing Director, Wassum
T: +44 (0)20 7368 9300 F: +44 (0)20 7368 9301 E: enquire@iqpc.co.uk Investment Consulting

2. www.nordicinvestorsforum.com
Chairman’s note:
On behalf of Finance IQ, I am delighted to welcome you all to the 7th annual Nordic Investors Forum in Stockholm. I am sure that those
of you who have attended the conference before recognise this event as one of the most interesting and rewarding in the region.
We have experienced one of the most challenging and turbulent periods in financial history. As a consequence, many Nordic
Investors are reviewing their investment strategy and challenging long held investment beliefs. Our goal has been to create a
forum to discuss some of the most pertinent issues for the investment community today. Emerging markets, asset allocation
strategies, new regulations, alternative investments and ETF’s are some examples. Some of the industry’s thought-leaders and
most renowned speakers will be there to share their best ideas and experiences including probably some war wounds from the last two years. When
you add this insight to some of the best networking opportunities in the region, you get a conference which is, without doubt, one of the best ways
to gain new ideas for the next 12 months.
See you in Stockholm in September!
Jan Bernhard Waage, Managing Director, Wassum AB
Wassum provides investment sourcing services to institutional investors. The services include strategic advice, manager research, administrative support,
financial education and responsible investment research.
Day One Agenda: 7 September 2010
08:30 13:50
Registration and Coffee Practitioners Perspective: Will a new regulatory framework change
09:00 the asset allocation of pension funds?
Chairman’s Opening Remarks r Defining the future landscape in 2012
Jan Bernhard Waage, Managing Director, Wassum Investment Consulting r Has the risk appetite of pension funds changed?
r Does financial reporting have an impact on asset allocation?
LOOKING INTO THE CRYSTAL BALL – GLOBAL CuES ON THE r Prudent regulation strikes a balance between security and costs: has
RECOvERY AND BEYOND the financial crisis shifted the balance?
r Risk sharing between individuals and generations - a powerful tool
09.05 r Insolvency guarantees and contingent assets can be a cost efficient
The Macro picture: Where are the markets now? way of increasing security
r U, V and W – what will the recovery look like? Peter Lindblad, Senior Advisor and former President, PRI Pensionsgaranti
r What is the biggest threat – inflation or deflation?
r Where are future yields likely to come from? AN AFTERNOON OF ExAMINING THE POST RECESSION
Arnab Das, Managing Director, Roubini Global Economics INvESTMENT POTENTIAL OF ALTERNATIvE ASSET CLASSES
09.30 14.45
PANEL I Emerging Markets: A source of growth in an Panel II The Hedge Fund debate – are they an essential
uncertain environment? component of an ‘all weather portfolio’?
r What is the risk appetite for emerging markets? r How have they adapted to a post recession world?
r What currently constitutes ‘fair-value’ in emerging market equities? r Transparency, liquidity and understanding their investors objects – are
r Investment opportunities in the credit markets – which way are the hedge funds delivering on these counts in 2010?
spreads headed? r Hedge fund beta replication – a good strategy?
r Emerging markets that are likely to see issuance in the short term r Is investing in hedge funds compatible with SRI?
Moderator: Jan Bernhard Waage, Managing Director, Wassum Moderator: Jan Bernhard Waage, Managing Director, Wassum
Investment Consulting Investment Consulting
Speakers: Jerome Booth, Head of Research, Ashmore Investment Speakers: Lars Lovgren, Head of Hedge Funds, DnB NOR Asset
Arnab Das, Managing Director, Roubini Global Economics Management
10.20 Networking Coffee Break Yngve Jordal, Director of Hedge Funds, Orkla Finans
Svante Bergstrom, Managing Director Fund Manager, Brummer and Partners
THE CHANGED MARKETPLACE – HOW WILL IT AFFECT INvESTORS
15.30 Networking Coffee Break
10.50 16.00
After the crisis: Rethinking liability driven investment Commodities – Solidity to bank on?
r What went wrong with traditional asset allocation r What is the best way to gain exposure?
r How to deal with non-normal returns and time-varying characteristics r Trends in demand, supply and price of energy, metals and softs
of asset returns r How are commodities correlated to the markets?
r How to deal with liquidity – or the lack of it?
r The importance of a forward-looking approach 16.30
Heli Huhtala, Head of Investments, Bank of Finland Private Equity – New model, new opportunities
r Profit from the paradigm shift in power between manager and investor
11:50 r Reading debt negotiations to pick winners over the next 5 years
Real Estate Securities – their role in a diversified portfolio r Investment exits – the new performance benchmark?
r What is the case for an allocation to global real estate securities?
r Is it necessary to sacrifice liquidity and transparency for real estate exposure? 17.00
r Should a securities allocation replace or sit alongside other real estate Panel III What next for Iceland?
investments (e.g. direct property, private equity)? r Future outlook on the Icelandic Kroner, interest rates and
r How can different real estate asset classes be best used for tactical banking system
and strategic allocations? r What are the pension funds doing to cover liabilities
r What is the current outlook for the various forms of global real estate r Long term strategy for the markets in Iceland – is there a way out?
investments? Speakers: Birgir Stefánsson, Investment Manager, Pension Fund for
Alan Supple, Senior Portfolio Strategist - Urdang Capital Management State Employees LSR
Products, BNY Mellon Asset Management International Fabio Quaradeghini, Senior Fund Manager, Landsbanki
12.45 Luncheon 17.30 Chairman’s Closing remarks
17.45 Evening Networking Drinks Reception
Sponsored by BNY Mellon
T: +44 (0)20 7368 9300 F: +44 (0)20 7368 9301 E: enquire@iqpc.co.uk

3. www.nordicinvestorsforum.com
Day Two Agenda: 8 September 2010
08:30 Moderator: Jesper Kirstein, Chief Executive Officer, Kirstein Finans
Registration and Coffee Speakers: Patrik Safvenblad, Investment Partner, Harmonic Capital
Jauri Hakka, Executive Director, Fund & Manager Selection, Nordea
09:00 Investment Management
Chairman’s Opening Remarks Per Lindgren, Head of Manager Selection, Skandia Liv
Jan Bernhard Waage, Managing Director, Wassum Investment
Consulting 11:50
The regulatory landscape – A supervisory perspective
STRATEGIES THAT TESTED WELL IN THE DOWNTuRN r An update on Basel III
r How will it affect liquidity, cost of credit and asset prices?
09.05 r How will institutional investors be affected?
Case study: APG Lars Frisell, Chief Economist, Finansinspektionen Swedish FSA
Balancing risk and return to a new equilibrium
r Why the fund needs to be managed actively? 12.45 Luncheon
r Future directions
r Corporate governance 13.50
Ronald Wujister, Director or Strategy and Research, APG Portfolio strategies with Exchange Traded Funds
r Will leveraged ETF’s be the next asset class to go toxic?
09.30 r ETF’s as alternatives tools to derivatives
Case Study: PP Pension r Index trackers versus active managed portfolio of shares
r Best ways to implement ETF’s strategies
r Constructing a portfolio that optimises risk and return objectives
r Dealing with volatility, uncertainly and market sentiment 14.35
r PP pensions fund platform system – how and why it works PANEL v So where does this leave the asset
Cecilia Thomasson Blomquist, Chief Investment Officer, PP allocation debate?
Pension r Diversification has been in vogue yet it did not protect investors from
the credit crisis – so what should be done next?
10.20 Networking Coffee Break r Should allocation decisions be hedged?
r Has illiquidity been underpriced – what effect will a correction have
METHODS TO IMPROvE EFFICIENCIES AND PERFORMANCE on mandates
r Which positions are likely to generate alpha
10:50 Speakers: Staffan Hansén, Investment Director, SPP
Panel Iv Picking a winning team – are external managers the Mikael Dahlin, Head of Alternative Investments, Folksam
way forward?
r Advantages of in-sourcing versus outsourcing 15.30 Chairman’s Closing remarks
r What criteria to use in the absence or failure of quantitative strategies?
r Roles of fees
SPONSOrSHIP OPPOrTUNITIeS three easy ways to get involved
1 Thought Leadership: With an expected audience of senior finance customers and decision makers from across the globe, Finance IQ events enable you to build your reputation as
a market –leader in your chosen domain through speaking sessions and subject specific conference streams, workshops and focus days
2 Branding: We bring together buyers and suppliers in a tailored location with unbeatable facilities for on-site branding and exposure. Furthermore, our dedicated marketing team
can help you achieve your promotional aims in the months leading up to the conference with dedicated mailings to cover 50,000 contacts through brochure drops, extensive e-mail
campaigns and tailored web coverage
3 Featured Networking Events: Focused and high level, our events will provide you with the perfect environment to initiate new business relationships and achieve face to face
contact that overcrowded tradeshows cannot deliver. Sponsorship opportunities range from exhibition stands to sponsored lunches, cocktail receptions, gala dinners and a host of
informal social networking events.
For further details, or to discuss which option is best for your organisation, please call Sean Mcveigh on +44 (0)207 368 9500 or e-mail sponsorship@iqpc.co.uk
Sponsors Founded in 1741, Wegelin & Co. is Switzerland’s oldest bank and ties with leading universities worldwide.
currently manage assets of over CHF26 billion. As a limited partnership, Wegelin Asset Management has developed several research-driven,
Wegelin & Co. is one of the few remaining banks whose managing active quantitative investment strategies – the Active Indexing® equity
partners have unlimited liability. strategy being the best known of these. We also offer products in several
Wegelin Asset Management, the bank’s institutional investment arm, is other asset classes, such as volatility, currencies and fixed income.
one of Switzerland’s leading active quant managers and maintains close
BNY Mellon is a global financial services company focused on helping clearing services and treasury services through a worldwide client-
clients manage and service their financial assets, operating in 34 focused team. It has US$22.4 trillion in assets under custody and
countries and serving more than 100 markets. administration, US$1.1 trillion in assets under management.
BNY Mellon is a leading provider of financial services for institutions, Additional information is available at www.bnymellon.com
corporations and high-net-worth individuals, providing superior asset
management and wealth management, asset servicing, issuer services,
Media Partners
T: +44 (0)20 7368 9300 F: +44 (0)20 7368 9301 E: enquire@iqpc.co.uk

4. Nordic Investors Forum 2010 5 WAYS TO REGISTER
CONFERENCE: 7 – 8 September 2010 Freephone: 0800 652 2363 or
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visit www.nordicinvestorsforum.com
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