SCI's 8th Annual Securitisation
Pricing, Investment and Risk Seminar

London, 12 December 2014

Location: 20 Primrose Street, Reed Smith office, EC2A 2RS

SCI's 8th Annual SCI conference focuses on issues affecting investment and trading of securitised bonds, and in light of the various on-going regulatory actions, the likely implications for primary market issuance, market risk, and valuations.

Panel discussions look at where relative value lies in investment opportunities, particularly in light of the ECB's ABSPP; Regulatory Capital Trades; Distressed Assets & NPLs; and how the CLO market might look in 2015. We also take an in-depth look at pricing and data challenges, and this year provide even more networking opportunities.

This event was kindly sponsored by:

AGENDA

07:45 REGISTRATION & BREAKFAST

08:45 KEYNOTE SPEAKER
Looking into 2015 - an overview of the global economic outlook
Keynote Speaker:
Neil Williams, Group Chief Economist, Hermes Investment Management Bio

09:15 REGULATIONS: ISSUANCE & INVESTMENT IMPLICATIONS
This discussion will take an in-depth look at regulations that have recently come to bear and their longer-term impact on transparency, structuring and investment appetite. How is the ECB's purchase programme affecting sentiment? What else is in the pipeline and what is the industry doing to assess their likely impact?
Moderator:
Nick Stainthorpe, ReedSmith Bio
Panel includes:
Rob Ford, TwentyFour Asset Management Bio
Richard Hopkin, AFME Bio
Andrew Currie, Fitch Ratings Bio
David Covey, Nomura

10.00 BREAK

10:30 RELATIVE VALUE OPPORTUNITIES: TRADERS' ROUNDTABLE
After a year of relatively stable economic news and compressing spreads, where does value exist across the capital structure, and in which asset classes? What issues does the market face in relation to liquidity, transparency and pricing? A panel of traders discusses market trends and offers their top picks in today's environment.
Moderator:
Miten Amin, Moody's Analytics Bio
Panel includes:
Shammi Malik, StormHarbour
Peter Nowell, BNP Paribas Bio
Laila Kollmorgen, Raymond James Bio
Paolo Binarelli, Banca IMI Bio

11.15 BREAK

11.35 INVESTOR PANEL
Hedge fund and institutional investors share their opinions on the market outlook and opportunities heading into 2015.

Moderator:
Ian Robinson, Kinson Capital Bio
Panel includes:
Miguel Ramos Fuentenebro, Fair Oaks Capital Bio
Mark Hale, Prytania Group Bio
Greg Branch, SCIO Capital Bio

12.20 - Two Streams:

Stream A: REGULATORY CAPITAL RELIEF TRADES
Banks need to lighten their balance sheets by an estimated $250bn globally under new regulatory capital requirements, making the partnership between specialist funds buying non-core assets and the banks needing to dispose of them a significant one. How are risk transfer deals being structured and priced? Should investors still be attracted to funds active in the sector and are excess returns possible in the long term?

Moderator:
Olivier Renault, Stormharbour Bio
Panel includes:
Hubert Tissier de Mallerais, Chenavari Bio
Biagio Flavio Giacalone, Banca IMI Bio
Jack Meeus, Christofferson Robb Bio

Stream B: DISTRESSED ASSETS & NPLs
Interest in European non-performing loans continues to increase, with more than just large private equity firms now bidding for assets. In which assets and jurisdictions does value remain, and what are the barriers to entry? How is the securitisation exit for distressed assets evolving?

Moderator:
Alan Packman, Stifel Bio
Panel includes:
Vittorio Savarese, Banca IMI Bio
Tamara Box, ReedSmith Bio
Peter Denton, Starwood Bio
Alessio Pignataro, DBRS Bio

13.10 LUNCH

14.00 EUROPEAN CLOs - PROSPECTS FOR 2015
A panel of experts discusses the CLO market from an investor and regulatory perspective. What are the limitations on the market going into 2015? Is sufficient loan level collateral available; is regulatory uncertainty retreating? What is the current make-up of the investor base in European CLOs, and is this expected to change?

Moderator:
David Matson, IKB Fund Management Bio
Panel includes:
Chandrajit Chakraborty, Pearl Diver Capital Bio
Dushy Puvan, BNP Paribas Bio
Barry Lane, 3i Bio

15.00 RECEPTION: PROSECCO & PANETTONE, care of BANCA IMI