- Edward Patchett led a roundtable discussion on Hedge Fund Investing at the IFEBP Annual Employee Benefits Conference in New Orleans on December 2nd and 3rd. The session started with discussions on the investment objectives of most hedge funds and contrasted them with "traditional" investment management. They then discussed the differences between "absolute" and "relative" return investment objectives. Next the discussion focused on the legal structure and investment characteristics of hedge funds, the ERISA fiduciary status of hedge fund managers and the leverage, transparency and fee structure within this type of investment. Finally they discussed where might hedge funds fit within a plan's asset allocation.
- Gerald Carlisle participated in a presentation on Selecting and Monitoring Investment Managers. This presentation was given twice to audiences of several hundred participants.
- Steven Harding spoke on a panel on fiduciary responsibility to monitor public fund operations.
