Step Up! Earn the AIF Designation, the Global Standard for ...

ADFIAPfinancing sustainable development

In association with

October 20 and 21, 2011New World Hotel, Makati City, Philippines

FINANCIAL EXECUTIVES INSTITUTEOF THE PHILIPPINES (FINEX)

Step Up! Earn the AIF Designation, the Global Standard for Fiduciary Excellence

Event Overview

About APAFS

The Asia Pacific Association for Fiduciary Studies (APAFS) is formed by a group of fiduciaries from the Asia Pacific Region. The Association is a non-profit educational association which aims to deliver useful insights and information to raise the level of understanding and standards of fiduciaries in the region.

One of the commitments made by the Association in order to meet their goal is to put up an annual conference to provide

The Pacific Region Investment Conference, now on its 11th year, is an annual gathering of fiduciary experts aimed to be the premier investment conference in the region. The 11th PRIC, with the theme: “Step Up! Earn the Accredited Fiduciary Designation, the Global Standard for Fiduciary Excellence,” is the biggest yet investment conference organized by the

Thursday, 20th of October 2011

Friday, 21st of October 2011

Breakfast and Registration

Welcome Remarks

Session 1

Coffee and Refreshment Break

Session 2

Session 3

Featured Luncheon Speaker

Session 4

Session 5


Q&A with Keynote

Session 6

Closing Remarks

End of Program / Cocktails


Recap Day 1 & Intro Day 2

Session 1


Session 2

Session 3

Featured Luncheon Speaker

Session 4

Session 5


Session 6

Raffle

Closing Remarks

End of Program

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educational sessions on topics relevant to the investment and fiduciary sector in the Asia Pacific. It becomes the battleground of ideas for members to share and discuss concepts and experiences and to build relationships.

With aims to continue promoting education among fiduciaries, APAFS partnered with fi360™ bringing along the prestigious AIF® Training this year.

Asia Pacific Association for Fiduciary Studies. The theme is envisioned to teach and educate participants on how they could aspire and step up to have global fiduciary excellence.

APAFS has partnered with fi360™ in bringing the AIF® Training closer to investment executives, trustees, financial advisors and officers. Through this, the conference features, for the first time, one of the most sought after designations in the investment industry – the Accredited Investment Fiduciary® Designation, which cold be earned through the AIF® Training Program. The said training is a 14.5 hour certification program that offers the AIF® Designation to proctored exam passers. More than a sharing of knowledge and experiences, the Conference essentially becomes a venue for the recognition and appreciation of the richness of the cultures and practices that are unique to the Asia Pacific.

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INtroductIoN

Schedule at a Glance

Welcome all delegates!

The Annual Pacific Region Investment Conference, now on its 11th season, is extra special this year with our current theme, “Step Up! Earn the Accredited Investment Fiduciary Designation, the Global Standard for Fiduciary Excellence,” as APAFS partners with fi360™ to offer the prestigious AIF® Training. We believe that it is time for all fellow fiduciaries to step up and enjoin other professionals in

this field to continue in their pursuit of becoming competitive and excellent.

In the 11 years of existence of the PRIC, I am glad to receive the overwhelming support from our sponsors and association partners, as we witness the continuous growth of the number of participants attending this event with various country representation over the years.

We are confident that this year’s conference would be another success. Again, thank you for the relentless support you have given to the association and the conference.

Cheers,

Daniel A. Roland, CIMAExecutive Director

Message from the Chairman

Message from the Executive Director

Hafa Adai! APAFS warmly welcomes all delegates to the much awaited 11th Pacific Region Investment Conference (PRIC).

For the first time in our history, APAFS has brought two back-to-back fiduciary events in one location in the same week this 2011! The PRIC continues to be the best and biggest fiduciary gathering in the region providing the avenue to discuss significant economic topics and best practices concerning the fiduciary industry in the

world today. Prior to the PRIC, we are glad to have also brought in the opportunity for each delegate to earn “one of the ten most wanted designations in the investment industry” according to US Financial Planning Magazine - the Accredited Investment Fiduciary (AIF)™ Designation by fi360™. We are also glad to be joined by fi360™ CEO, Blaine Aikin, AIFA®, CFP®, CFA®, as Keynote Speaker for this year’s conference. He will be sharing major contributions to the development of the Fiduciary Excellence concept with us.

We are confident that the 11th Annual PRIC will deliver a greater impact in everyone’s learning process concerning the region’s fiduciary industry.

On behalf of the Association, thank you for your continuous and overwhelming support!

Gerard A. CruzChairman

3 11th Annual Pacific Region Investment Conference

INtroductIoN

CHAIRMANMr. Gerard A. CruzBoard of TrusteesGovernment of Guam Retirement Fund

VICE CHAIRMANMr. Patrick TelleiPresidentPalau Community College

SECRETARYMs. Anna MendiolaPresidentFSM Development Bank

TREASURERMr. David O’BrienVice President, Administration & FinanceUniversity of Guam

GUAMDavid O’Brien, V.P. Finance & Administration, University of Guam (Current Treasurer)Gerard A. Cruz, Member, Board of Trustees, Gov. of Guam Retirement Fund (Current Chairman)Mary Okada, President, Guam Community College

COMMONWEALTH OF THE N. MARIANA ISLANDSPhillip Mendiola-Long, Member, Board of Trustees, Marianas Public Land TrustMark A. Aguon, Administrator, NMI Retirement FundVincente M. Babauta, Chairman, NMC Foundation

REPUBLIC OF MARSHALL ISLANDMinister Jackson Ading, Ministry of FinanceRon Cenicola, V.P. Finance, RMI Telecommunications AuthorityBenjamin Graham, Business Consultant, Graham Consulting

FEDERATED STATES OF MICRONESIAAnna Mendiola, President, FSM Dev. Bank (Current Secretary)Alexander R. Narruhn, Administrator, FSM Social Security AdministratorAndrew Yatilman, Satawal Trust Fund

REPUBLIC OF PALAUKerai Mariur, Vice President & Minister of Finance, Republic of PalauPatrick U. Tellei, President, Palau Community College (Current Vice Chairman)Mark U. Rudimch, Senate, OEK

MULTI - NATIONALMasa-Aki Emesiochl, Chairman, Board of Regents, College of Micronesia Land GrantPacific Islands Development BankSergie Ferrer, Treasurer, SDA Southern Asia-Pacific Division

U.S. MainlandRaaj Kurapati, University of Alaska

Board of Governors

Blaine F. Aikin, AIFA®, CFA®, CFP®Blaine F. Aikin, AIFA®, CFA®, CFP® is the President and CEO of fi360TM. Prior being on his present position, he also worked as Chief Knowledge Officer and Director of Training for fi360TM. He is also an author of numerous articles on the subjects of fiduciary responsibility and investment management. He was named to Investment Advisor magazine’s IA25 list of the most influential people in the investment advisory community in 2011. Mr. Aikin received his Master of Public Management and Policy degree from the Heinz School of Carnegie-Mellon University.

speakers profIle

Louis Boulanger, CFA®Louis Boulanger, CFA®, is the Founder and Director of Louis Boulanger Now Limited. He is also the author of an e-newsletter started in 2006 entitled “Prosper!” with a goal to educate. He is the founding president of the CFA Society of New Zealand and remains to be an active member of the CFA society. He also actively participates in the continuous development of the

Global Investment Performance Standards® (GIPS®) for over ten years. He earned his Bachelor of Science degree from the Laval University in Canada.

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Gerard A. CruzGerard A. Cruz is Chairman of the Board of Governors of the Asia Pacific Association of Fiduciary Studies. In addition, he serves as Treasurer and a senior member of the Board of Trustees to the Government of Guam State Retirement Fund and as President and CEO of Community First Guam FCU, a full service financial institution. He has provided a number of financial

related seminars and has presented lectures throughout the region. Mr. Cruz received a BA in Economics and an MBA in Finance from the University of San Francisco and has attended the Pacific Coast Banking School at the University of Washington, Seattle.

Wahid Pierre Chammas Wahid Pierre Chammas is Co-Portfolio Manager of Janus Emerging Markets Equity and Janus European Equity strategies. He also serves as an Equity Research Analyst, primarily focusing on Janus’ investments in the leisure and consumer sectors globally. Mr. Chammas was one of the youngest professionals ever to serve as inter-divisional Chief-of-Staff and one of the youngest

to be promoted as Vice President. He earned his Bachelor of Arts degree in Biology, with highest distinction honors, Phi Beta Kappa and summa cum laude, from Amherst College.

John EdwardsJohn Edwards is a Principal and Investment Director. He is responsible for product development and portfolio customization. Mr. Edwards has over 20 years of international investment advisory experience. Prior to joining Newgate, Mr. Edwards was the National Director for Ivory & Simes and Managing Director for State Street Global Advisors. Born in London, Mr. Edwards

has traveled extensively throughout the world and is a frequent speaker at industry conferences, educational seminars and investor forums. He holds a BS in Economics degree from Worcester College in England.

Jeffrey D. Detwiler, CFA®, AAMSJeffrey D. Detwiler, CFA®, AAMS, is a Fixed Income Portfolio Manager at Garcia Hamilton & Associates, L.P. He also worked as Analyst and Portfolio Manager in Cougar Investment Fund, LLC. He has been in the investment industry for 15 years, dating back from 1996. He earned his Bachelor of Science in Finance from the University of South Florida in 2000 and Master of

Science in Finance along with a Graduate Certificate in Financial Services Management from the University of Houston’s Bauer School in 2007.

Simon GodfreySimon Godfrey is the Head of Investment Specialists, Emerging Markets Group of the BNP Paribas Investment Partner. With over 15 years of investment management experience, he is responsible for managing the interface between BNP Paribas Investment Partners Emerging Markets investment centers, customer relationship managers based in BNP Paribas Investment Partners’

international locations and external clients and prospects. He graduated from Manchester Metropolitan University in Business in Europe.

Ross Fowler, AIFA® Ross Fowler, AIFA® is the CEO of fi360™ Pacific LP. He works closely with board trustees, investment committees, family trusts and advisers to ensure effective implementation of fiduciary governance. His primary responsibility is to focus on installation of governance practices. He earned his Diploma in Urban Valuation in Auckland University and completed

Rural Valuation and Farm Management post graduate studies at Lincoln College.

David John David John is the President of ASC Trust Corporation. Staying active in Guam, he is currently a member of the Board of Directors with the Guam economic Development Authority, the University of Guam Endowment Foundation, and the Guam National Tennis Federation. He has always been active in the previous Pacific Region Investment Conferences, presenting and providing the annual state of retirement in the region.

Mark Heath, CFA®, CPA Mark J. Heath, CFA®, CPA is a Senior Vice President and serves as a Portfolio/ Relationship Manager at Metropolitan West Capital Management. Working in the investment management field since 1986, he also served as Chief Financial Officer and Endowment Fund Administrator at the University of Guam. He earned a Bachelor of Science in Business from West Texas A&M

University and a Master of Business Administration from the University of Guam. He is a Certified Public Accountant and also holds a Chartered Financial Analyst® (CFA®) designation by the CFA Institute.

Vivek Ahuja Vivek Ahuja is the Portfolio Manager and Research analyst in Franklin Templeton International Bond Department, responsible for analysis of macroeconomic trends in Asia emerging market economies and financial systems. He also worked in various financial institutions in India in area of Fixed Income Investments and macro research. He earned his Bachelor of Commerce and Master’s degree in Finance from Mumbai University.

Keynote Speaker

speakers profIle


Kamani B. Kuala’au Kamani Kuala’au joined Atalanta Sosnoff Capital, LLC, on August 16, 2010 as Senior Vice President of Sales and Marketing for the Western Pacific Region, Hawaii and the Western United States. Beginning his career in finance with Public Financial Management, he was also previously the manager and senior trust officer of Institutional Client Services at Bank of Hawaii. Mr.

Kuala’au is also a trustee for the estate of King William Charles Lunalilo, Hawaii’s 6th monarch providing a healthy and safe living environment for Hawaiin elders, serving those most in need. Kuala’au is a graduate of Princeton University and Kamehameha Schools.

Jason Miyashita, CRPS®, AIFA®, FPS Jason Miyashita is Senior Investment Management Consultant and Second Vice President – Wealth Management at Morgan Stanley Smith Barney. He is an active member of the Rotary Club of Tumon Bay Guam, Guam Chamber of Commerce, Saipan Chamber of Commerce and The Pacific Club in Honolulu, Hawaii. He graduated from The Wharton School of Business at

the University of Pennsylvania with concentrations in Accounting, Finance, and Strategic Management. He also holds designations from Chartered Retirement Plans Specialist (CRPS®), Accredited Investment Fiduciary Analyst (AIFA®) and Financial Planning Specialist (FPS).

Ruby Menon Ruby Menon serves as a member of Robbins Geller Rudman & Dowd LLP’s advisory team. Her practice focuses on providing a variety of legal and consulting services to single and multi-employer pension funds. She also served as Chief Legal Counsel to two large multi-employer retirement plans. She earned her Juris Doctor degree from Indiana University, School of Law.

Her bar affiliations and court admissions include: District of Columbia; New York; Colorado; Indiana; and the United States Supreme Court.

Patton H. Roark Jr., CFA®

Patton H. Roark Jr., CFA® is a Partner and Portfolio Manager for Richmond Capital Management. Equipped with over 18 years of fixed income money management experience, he leads the firm’s strategy, research and trading effort in the MBS, CMBS and ABS sectors of the bond market. He also served as Executive Vice President and Senior Portfolio Manager for the AFL-CIO Housing

Investment Trust in Washington, D.C. for 10 years. He earned his Bachelor of Science degree in Accounting and Economics at the Shepherd University in 1989. He also holds the Chartered Financial Analyst designation.

Hans SicatHans B. Sicat is the President and Chief Executive Officer of the Philippine Stock Exchange. He is also an independent director of the Philippine Dealing System Holdings Corporation (PDS), a subsidiary of PSE. Mr. Sicat is also the Vice President and a Director of LegisPro Corporation, a Knowledge Process Outsourcing (KPO) firm. Prior to joining the exchange, he was an investment

banker for 22 years. He earned Bachelor’s degree in Mathematics and Master of Arts in Economics from the University of the Philippines. He also holds a Ph.D Economics Program from the University of Pennsylvania.

Bradley SchluterBradley Schluter is a Senior Vice President and the Director of Marketing of the Pacific Income Advisers, equipped with more than eighteen years of investment experience. He also served as Director of Marketing for the Burridge Group LLC. He earned his Bachelor of Science degree in Business from the University of Southern California.

Darren J. RobbinsDarren J. Robbins is a founding partner of the Robbins Geller and Rudman & Dowd LLP. He is a frequent speaker at conferences and seminars and has lectured on a wide-range of topics related to securities litigation. In the past years, he has been named California Lawyer Attorney of the Year and recognized as one of the American Lawyer’s Young Litigators 45 and Under. He

earned his Bachelor of Science and Masters at the University of Southern California and his Juris Doctor degree at the Vanderbilt School of Law.

Andrew Temming, CFA® Andrew Temming, CFA® is a Research Analyst on the International Equity Strategy team in Renaissance Investment Management. Prior his current position, he was an Associate Portfolio Manager and Research Analyst at Cincinnati Financial Corporation. He became a CFA® charterholder in 2006 and had six years of investment experience. Andrew earned his Bachelor

of Science in Business Administration concentrating in Finance and Master Business Administration concentrating in Accounting from Xavier University.

Elizabeth SinnElizabeth Sinn is the Senior Portfolio Strategist at Penjing Asset Management (HK) Limited. With 30 years of industry experience, she worked as Senior Director at HSBC Private Bank; Executive Director in UBS Global Asset Management;Head of PB-Investment Services Unit, ABN, AMRO Bank. She earned her B. Soc. Sc from the University of Hong Kong and M.B.A. from the Chinese University of Hong Kong.

Phillip Mendiola-Long, AIFA®, RFIn 2003, Phillip Mendiola-Long, AIFA®, RF, an honor graduate of Portland State University, was designated as an “Accredited Investment Fiduciary” – a title that makes him one of two people in the Pacific Region who can be accepted in court as an expert witness for Fiduciary responsibilities. In 2004, Phillip opened “Fiduciary Resources, Inc.”, the first full-service fiduciary services firm in the Pacific Region, a subsidiary of Sherman

worldwide. Mr. Long has conducted extensive Fiduciary Training Seminars. He is also on his second term as a trustee for Mariana’s Public Land Trust as well as the President of the Asian Pacific Region of Sherman Worldwide, LLC.

Issa Litton - GarridoIssa Litton-Garrido is a prominent and multi-awarded lifestyle host. She hosts the shows “Kitchen Battles” and “Secrets of the Masters” in QTV11. She was also a UN and UNESCO 2009 awardee as host for community service through media with “She Ka” on NBN 4. She graduated with honours from Ateneo de Manila University with a degree in Communications.

Masters of cereMoNIes

Thursday, 20th of October 2011

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proGraM detaIls

7:00 AM

8:30 AM

8:45 AM

9:45 AM

10:00 AM

11:00 AM

12:00 PM

1:00 PM

2:00 PM

3:00 PM

3:15 PM

3:45 PM

4:45 PM

5:00 PM


Welcome Remarks

Session 1: Capturing Opportunities and Managing Risks in Emerging MarketsWahid Chammas, Janus Capital Group


Session 2: Unlocking Superior Equity Returns In Asia Through High Dividend InvestingSimon Godfrey, BNP Paribas Investment Partners

Session 3: Global Fixed Income Investing: Broadening Opportunities through Geographic Expansion and New Instruments with Specialized Exposures Vivek Ahuja, Franklin Templeton

Featured Luncheon Speaker: Fiduciary Training in AustralasiaRoss Fowler, AIFA®, fi360TM Pacific LP

Session 4: Currencies & the Role of GoldLouis Boulanger, CFA®, BMG & LB Now Ltd.

Session 5: Stepping Up the Standards to Fiduciary Excellence Blaine F. Aikin, AIFA®, CFA®, CFP®, fi360TM


Q&A with Keynote

Session 6: Fiduciary Solutions and Compliance Measures to Protect Plan AssetsRuby Menon, Robbins Geller Rudman & Dowd LLPDarren Robbins, Robbins Geller Rudman & Dowd LLP

Closing Remarks: Summary of Day 1

End of Program / Cocktails

Mistress of Ceremonies: Issa Litton - Garrido Investment Savvy TV Host, Lifestyle Personality

Photos from the 10th PRIC

Friday, 21st of October 2011


proGraM detaIls

7:00 AM

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Recap Day 1 & Intro Day 2Phillip Mendiola-Long, AIFA®, RF, Sherman Consulting

Session 1: Fiduciary Asset Management: Introducing a Discretionary Investment Management Solution for a Challenging Investment EnvironmentJason Miyashita, CRPS®, AIFA®, FPS , Morgan Stanley Smith Barney


Session 2: Defined Contribution Retirement Plans: Defining SuccessDavid John, ASC Trust Company

Session 3: Investing in Early Stage Asian Hedge FundElizabeth Sinn, Penjing Asset Management

Featured Luncheon Speaker: Overview of the Philippine Investment Landscape and the Role of PSEHans Sicat, Director-President-CEO, Philippine Stock Exchange, Inc.

Session 4: Natural Resources: Focus on demandJohn Edwards, Newgate Capital Management LLC

Session 5: Outlook for World Equity MarketsAndrew Temming, CFA®, Renaissance Investment ManagementMark Heath, CFA®, CPA, Metropolitan West Capital Management LLC Kamani B. Kuala’au, Atalanta Sosnoff


Session 6: Outlook for World Bond MarketsJeffrey D. Detwiler, CFA®, AAMS, Garcia Hamilton & Associates, L.P.Patton Roark, CFA®, Richmond Capital ManagementBradley Schluter, Pacific Income Advisers

Raffle

Closing Remarks: APAFS Roadmap: Plans for 2012 and BeyondGerard A. Cruz, APAFS Chairman

End of Program

Master of Ceremonies: Phillip Mendiola-Long, AIFA®, RF President-Managing Director, Sherman Consulting


Atalanta SosnoffAtalanta Sosnoff is an independent registered investment advisor that provides investment advisory services on a discretionary basis to corporations, tax exempt funds such as pension and other plans, charitable organizations such as endowments and foundations, Taft-Hartley funds, governmental entities, broker sponsored wrap programs and high net worth individuals. Founded in 1981, Atalanta Sosnoff is defined by their proprietary investment research, dedicated client service and high standards on corporate ethics.

Morgan Stanley Smith Barney A global leader in wealth management, providing a range of products and services to individuals, businesses and institutions, including brokerage and investment advisory services, financial and wealth planning, credit and lending, cash management, annuities and insurance, retirement and trust services. For further information about Morgan Stanley Smith Barney, please visit www.mssb.com. The Asia Pacific Group of Morgan Stanley Smith Barney’s Guam Office provides institutions and high net worth individuals with customized economic, investment and asset allocation strategies based on their individual financial objectives.

Robbins Geller Rudman & Dowd LLPRobbins Geller Rudman & Dowd LLP is the largest and most accomplished plaintiffs’ securities law firm in the world. With over 650 institutional clients, the firm represents more domestic and institutional investors than all other securities law firms combined. The firm processes approximately $2 Billion of claims in connection with the largest liability verdict ever returned by a jury in favor of a shareholder class inb the pending Household International case.

s I l v e r s p o N s o r s

G o l d s p o N s o r s

ASC Trust Company ASC Trust Corporation is a leader in retirement plan consulting services in the Asia Pacific Region. Founded in 1990 with the objective to service the private sector during a time of unprecedented growth, it later pioneered the design of a retirement plan system that would be supported locally. It currently manages plans in excess of $500 million, representing over 50,000 plan participants of 385 employers with a client base consisting of large multinational corporations, small regional, local companies, as well as government and non-profit organizations. ASC is based on Guam with offices in Manila and Saipan.

BNP Paribas Investment PartnersBNP Paribas Investment Partners is the dedicated asset management business line of the BNP Paribas Group. BNP Paribas Investment Partners offers a full range of investment management services to institutional and retail clients around the world. Central to the way the company works is the concept of partnership – both in terms of how BNP Paribas behaves as a family of companies and its relationships with its clients. Over 1,000 investment professionals work across its network of some 60 investment centres, each of which is a specialist in a particular asset class or type of product. With total assets under management of EUR 533 billion as of 30 June 2010, BNP Paribas Investment Partners is the third-largest asset manager in Europe and the nineth-largest in the world.

Fisher InvestmentsFisher Investments (FI) is a global equity manager with headquarters in the San Francisco Bay Area. Fisher Investments is 100% Fisher family and employee-owned. The firm’s competitive advantages are the stability of its Investment Policy Committee and its unique investment process. Fisher Investments’ portfolios provide meaningful diversification benefits in a multi-manager platform and have outperformed their benchmarks in a variety of market conditions

Garcia Hamilton & Associates, L.PGarcia Hamilton & Associates (formerly Davis Hamilton Jackson & Associates) is an institutional asset management firm founded in 1988. The firm is now 100% employee-owned with almost 75% owned by ethnic minority and women partners. In addition, the firm name is changing to Garcia Hamilton & Associates and will discontinue the use of the old name by January 1, 2011. The firm manages Large Cap Equity, Fixed Income and Balanced strategies utilizing high quality equity and fixed income securities. Its diversified client base includes public funds, universities and endowments, Taft-Hartley plans, religious organizations and corporations.

Income Research & ManagementIncome Research & Management (IR&M), which has been providing investment advisory services for 21 years, focuses on the fixed income arena, specifically concentrating on the US investment grade markets. IR&M’s investment philosophy de-emphasizes macro bets such as interest rate calls and focuses on uncovering value through diligent, rigorous bottom-up security selection in niche areas of the market. They take pride in providing solid, consistent investment results and exceptional client service with the goal of building fruitful, long-standing client partnerships.

Metropolitan West Capital Management LLC Metropolitan West Capital Management LLC is an independent, SEC-registered investment management firm based in Newport Beach, California. The firm also has offices in Guam and Morris Plains, N.J. MetWest Capital manages Value-oriented Equity, Balanced, International and Global portfolios for individual and institutional clients. Its team of senior-oriented investment professionals have been working together since 1992 to manage long term portfolios for their base of US and international clients.

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the spoNsors p l a t I N u M s p o N s o r s

b r o N z e s p o N s o r sLouis Boulanger Now Limited (LB NOW) / Bullion Management Group (BMG) Louis Boulanger Now Limited (LB NOW), founded and directed by Louis Boulanger, is a private company in the business of giving private investment or financial advice. Bullion Management Group (BMG) was initially formed in November of 1998 to offer Canadian investors a convenient and affordable way to invest in precious metals bullion. Today, BMG provides physical bullion-based products (both bullion funds and bullion bars) for investors globally who are seeking innovative and tax-efficient ways to diversify, grow and preserve their wealth. LB NOW is an authorized bullion dealer of BMG.

Milliman Milliman, founded in Seattle in 1947, is among the world’s largest independent actuarial and consulting firms. It is owned and managed by senior consultants whose selection is based on their technical, professional and business achievements. Through consulting practices in employee benefits, healthcare, investment, life insurance and financial services, and property and casualty insurance, Milliman serves the full spectrum of business, financial, government, union, education, and non-profit organizations. It operates according to the guiding principles of their founders, Wendell Milliman and Stuart Robertson.

Newgate Capital Management LLCNewgate Capital Management LLC is an employee owned, privately held global investment advisor located in Greenwich, Connecticut. Founded in 1982 as a quantitative research firm, Newgate began managing portfolios in 1988. The firm’s clients include high net worth individuals, corporations, public funds, foundations and endowments worldwide. While Newgate’s investment process has evolved through the years, it remains a top-down, quantitatively driven, value oriented investment firm.

Payden & Rygel Investment ManagementWith more than $57 billion in assets under management, Payden & Rygel is one of the largest privately owned investment managers in the United States. Founded in 1983, the firm is a leader in the active management of fixed-income and equity portfolios for a diversified client base. The firm advises foundations and endowments, pension plans, corporate operating funds and individuals on their overall investment strategies. Payden & Rygel is committed to cultivating a partnership with our clients to best serve their needs.

Pacific Income AdvisersThe Pacific Income Advisers (PIA), founded in 1986, is an autonomous investment management firm registered under the Investment Advisers Act of 1940. With compliance with the Global Investment Performance Standards (GIPS®), PIA manages a variety of fixed income, equity and balanced assets for primarily United States clients. The firm has managed traditional investment grade fixed income strategies utilizing a disciplined, fundamental investment approach.

Sherman Consulting, LLCSherman Consulting is the region’s premier Fiduciary Services Firm providing Fiduciary Education Training, Third Party Fiduciary Representation, Fiduciary Practice Reviews and Fiduciary Audits for boards, trusts, investment funds and island Governments. The firm is led by Phillip Mendiola-Long who is an Accredited Investment Fiduciary and Registered Master Trustee. Through Mr. Mendiola-Long, Sherman Consulting is also registered with the US Securities and Exchange Commission as an accredited investment fiduciary providing fiduciary services professionally.

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GABELLI FUNDS

Franklin Templeton Investments (Asia) LimitedFranklin Resources, Inc. is a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Mutual Series, Fiduciary Trust, Darby and Bissett investment teams. The San Mateo, CA-based company has more than 60 years of investment experience and over USD603 billion in assets under management as of April 30, 2010.

Janus Capital GroupJanus Capital Group provides access to three experienced and highly specialised asset managers - Janus, INTECH and Perkins - each with distinctive investment approaches. Janus Capital Management seeks to identify strong businesses with sustainable competitive advantages while INTECH, founded in 1987, offers highly disciplined and risk-managed, mathematical investment strategies that attempt to achieve long-term excess returns, while reducing the risk of significant underperformance. Perkins Investment Management is an established a leading value investment firm through a combination of industry experience, thorough research and careful consideration for risk.

Renaissance Investment Management The Renaissance Group LLC, Renaissance Investment Management was founded in 1978 and is a registered investment advisor located in the Greater Cincinnati, Ohio area. Renaissance is a majority owned affiliate of Affiliated Managers Group (AMG), a Boston-based holding company. It offers U.S. domestic and international strategies covering the entire range of market capitalization. Renaissance has managed assets in the Asia Pacific region these past 20 years.

Richmond Capital ManagementRichmond Capital Management is an independent fixed-income only investment advisory firm. Founded in 1982, the firm serves public, corporate and Taft-Hartley retirement funds as well as insurance companies, endowments and foundations throughout the United States and the Pacific region. It focuses on value, using a disciplined process and team approach.

Capital Management llc

Newgate®

11th Annual Pacific Region Investment Conference

the spoNsors

laNyard spoNsor

offIcIal aIrlINe partNer

Gabelli Funds, Inc.GAMCO Investors, Inc. is a well-known diversified asset manager and financial services company. The company’s investment services are primarily offered through its subsidiary GAMCO Asset Management Inc, which manages separate accounts for high net worth individuals, institutions, and qualified pension plans, and through the Company’s role as advisor to a family of Mutual Funds. The company’s asset management businesses are supported by Gabelli & Company, Inc., an institutional broker/dealer that distributes the mutual funds managed by Gabelli Funds and publishes investment research which is one of the key elements of GAMCO Investors, Inc.’s success.

United Continental Holdings, IncUnited Continental Holdings, Inc. is the holding company for both United Airlines and Continental Airlines. Together with United Express, Continental Express and Continental Connection, these airlines operate an average of 5,765 flights a day to 377 airports on six continents from their hubs in Chicago, Cleveland, Denver, Guam, Houston, Los Angeles, New York/Newark Liberty, San Francisco, Tokyo and Washington, D.C. United and Continental are members of Star Alliance, which offers more than 21,200 daily flights to 1,185 airports in 185 countries. United and Continental’s more than 80,000 employees reside in every U.S. state and in many countries around the world.

a decade and a year of successful conferences

The 11th PRIC enjoined its fellow fiduciaries to step

up as trustees, fund and wealth managers, and

investment advisors with its conference theme

“Step Up! Earn the AIF Designation, the Global

Standard for Fiduciary Excellence”

For the first time in its history, PRIC has tied up with

fi360™ which offers the Accredited Investment

Fiduciary® (AIF®) Training Program. The program

was offered in parallel to the PRIC through a

two-day course slated two days prior to the PRIC

proper.

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Accredited Investment Fiduciary®

(AIF®) Training Program

aIf® training programThe fi360™ Training began as the Center for Fiduciary Studies in 1999 with the aim to provide first full-time training focusing on investment fiduciary responsibility and portfolio management.

The Accredited Investment Fiduciary® (AIF®) provides a unique comprehensive overview of fiduciary standards of excellence, asset allocation, preparation of investment policy statements, manager search and due diligence, performance measurement, and other related subjects.

Participants who will attend the AIF® program enables them to be articulate in the legal and regulatory environment impacting the fiduciary; determine the prudent process that an investment fiduciary should follow; conduct a fiduciary review; prepare investment policy statements; implement an investment strategy; conduct due diligence on investment advisers, financial planners and fund managers; implement socially responsible investment strategies; monitor and supervise the activities of an investment program; analyze an investment program’s expenses and fees; deliver performance measurement reports; customize services to different market segments.

The completion of the Course prepares participants to take the AIF® examination which leads to earning one of the most sought after designations in the field of fiduciaries- the AIF® designation. Equipped with the AIF® designation entitled the following benefits:

•Ongoingsupportanddedicationtoservicefromtheteamatfi360™•Continuing advocacy for a culture of fiduciary responsibility from

fi360™’s executive staff and team members.•Discountsonallof the servicesandproductsprovidedbyfi360™,

including publications, tools and the fi360™ annual seminar•ListingsofonlineDesigneeSearchdatabase,accessibletoprospective

clients, potential employers, local media and referrals.


a decade and a year of successful conferences


“It is quite likely that the current synchronized global economic boom and the universal, all-encompassing asset bubble will lead to a colossal bust. Central bankers have become hostage to inflated asset markets. Tight money will be difficult to implement. However, the market participants may from time to time bring about tight monetary conditions by curtailing the availability of credit.” - Marc Faber, 8th PRIC Keynote Speaker

“All investments are subject to certain risks. Generally, investments offering the potential for higher returns are accompanied by a higher degree of risk. Stocks and other equities representing an ownership interest in a corporation have historically outperformed other asset classes over the long term but tend to fluctuate more dramatically over the shorter term. Small or relatively new companies can be particularly sensitive to changing condi-tions due to factors such as relatively small revenues, limited product lines, and small market share. Smaller-company stocks have historically exhibited greater price volatility than larger-company stocks, particularly over the short term. Foreign investing, especially in developing countries, has additional risks such as currency and market volatility and political or social instability.” - Mark Mobius, 9th PRIC Keynote Speaker

“Too much Government Debt Is Like Too Much Private Debt. Credit Crisis from too much private debt like our mortgages leads to a banking crisis as debts go to default. Gov-ernment bailouts take on the Toxic Assets of banks, and spend big deficits to revive the Economy while getting lower taxes in recession. The exploding Government Debt loses confidence of investors causing Sovereign Debt and Currency Crisis.” - Bud Conrad, 10th PRIC Keynote Speaker

PRIC Keynote Sp eakers


[email protected] Plaza Building, 120 Father Duenas Avenue, Suite 102, Hagåtña, Guam 96910

11th PRIC Secretariat | Leigh De Armas Email: [email protected]

Tel. No.: (+632) 501-5090 Fax No.: (+632) 750-6510

BRANDSPEAKASIA6/F Room 610 VGP Center

6772 Ayala Ave., Legaspi Village,1229 Makati City, PhilippinesTelefax +632 750-6510 or +632 501-5090

http://www.brandspeakasia.com

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INSTITUTIONALMEMBERSHIP

ALLIEDMEMBERSHIP$200 $2500

Any public or private benefit fund; endowment or foundation; or any other fund deemed appropriate by the Executive Directors, may apply to become an Institutional Member.

Benefits- Representation on the Board of Governors- Right to request mini-conferences in local jurisdiction on pertinent topics- Access to APAFS website and links

Any corporation or organization wishing to be allied with the Association with an interest in supporting the goals of the Association may apply to become an Allied Member.

Benefits- Right to post relevant services offered on APAFS website and through links- Post approved articles and publications on pertinent topics on website- Inclusion in database for speakers at annual and mini-conferences

Association of Development Financing Institutions in Asia and the Pacific The Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) has currently 105 member-institutions in 41 countries. ADFIAP is also a founding member of the World Federation of Development Financing Institutions composed of regional associations in Africa, Asia-Pacific, Latin America and the Middle East. ADFIAP is an NGO in consultative status with the United Nations’ Economic and Social Council. CFA Society of the Philippines The Chartered Financial Analyst (CFA) Institute is a global, non-profit member organization of financial analysts, portfolio managers, and other investment professionals. The CFA Philippines, or CFAP, promotes ethical and professional standards within the investment industry, encourages professional development through the CFA Program, and facilitates the open exchange of information and opinions.Financial Executives Institute of the Philippines The Financial Executives Institute of the Philippines (FINEX) is a non-stock, non-profit, non-political association. It was formed in response to the need for a professional association devoted to the development of financial management techniques and efficiency in business enterprises. Through the years, FINEX has continuously given its members the latest in concepts, programs and policies of business finance and management.Philippine Stock Exchange The Philippine Stock Exchange (PSE) is the sole stock exchange in the Philippines and is among the largest in Southeast Asia. The PSE Composite Index (made up of 30 stocks) is the key indicator of share price movement in the market’s six sub indices: Financials Index, the Industrial Index, the Holding Firms Index, the Property Index, the Services Index, and the Mining & Oil Index.Trust Officers Association of the Philippines The Trust Officers Association of the Philippines (TOAP) is one of the oldest professional associations in the financial industry. TOAP’s primary objective is to unite, professionalize and promote the Philippine Trust and Investment Management Industry. TOAP is the biggest association of Investment Professionals with over 220 individual members coming from 47 banks and investment houses.

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