Thursday 24th April 2008

08:30 Registration

09:00 Chairman's Opening Remarks

Keith Mullin, Editor-in-chief, IFR

09:15 RISK - Analysing investment risks and asset correlations in emerging markets

• Are EM assets an uncorrelated asset class and if so how might assets become more closely correlated as markets develop?
• What strategies can be deployed to mitigate against countercyclical risks, including commodity and interest rate risks in EM?
• What are the current investment risks in key EM markets and how are those risks best managed?

09:45 DEBT ORIGINATION - Local vs global - domestic and international bond issuance trends for 2008/09

• Examining debt origination trends and the prospects for new issuers in 2008/09
• Local vs global - what are the current pros and cons for borrowers raising capital domestically vs internationally?
• How might the syndicated bond market develop in 2008/09?

10:15 CORPORATES - Reviewing and forecasting EM corporate issuance in volatile global markets

• Analysing current trends in EM corporate bond issuance, notable examples in 2007 and market developments in 2008
• What are the hot EM sectors and corporates in EM likely to issue in domestic or international over the next year
• Identifying convertible bonds issues and hot equity prospects across EM

10:45 Q&A

11:00 Refreshments

11:30 SECURITISATION - Scanning EM securitisation mandates and opportunities for institutional investors

• Reviewing major asset back securitisations in EM in 2007 and forecasting securitisation trends in 2008/09
• Comparing government and corporate securitisations in EM and investor opportunities
• Which EM assets might be considered undervalued and how is EM price and inflation risk best managed

12:00 Securitisation in the emerging markets – recent research findings

12:15 Q&A and discussion

12:30 STRUCTURED PRODUCTS - Identifying EM credit derivative strategies and structured products for EM funds

• Are EM credit derivatives the most efficient method of gaining EM exposure in institutional portfolios?
• What are the current EM structured product trends and EM structured product innovations?
• What are the risks inherent in EM structured products and how are they best managed?

13:00 Lunch

14:00 DECOUPLING - Fresh research on the decoupling of EM economies from US economic cycles and the implications for EM investments

• Which countries are decoupling from US economic cycles, how is this known and what are the implications for emerging market funds?
• What models and methodologies are deployed in the assessment of emerging market country risks - how can such models be benchmarked and how can the reliability of research be measured?
• Highlighting geo hotspots, including China, Asia and specific risk types

14:30 SOVEREIGNS- From debt to surplus – identifying EM sovereign strategies, including Sovereign Wealth Funds, in 2008/09

• Where in EM will capital flows and borrowing activity be most felt - where are the default risks and high yield hot spots?
• As EMs move into surplus positions, what are the prospects for EM deal flow and new issues going forward?
• How might EM Sovereign Wealth Funds influence the strategies of investment banks?

15:00 FX AND CURRENCY PANEL - Examining exotic currency issuance trends by high grade borrowers

• Who benefits from exotic currency issues?
• How can investors best get exposure to EM currencies?
• What are current trends and forecast in exotic FX?15;30 Refreshments

16:00 INFRASTRUCTURE - Mapping EM for large upcoming infrastructure and energy bond issues for institutional and corporate investors

• Where will infrastructure and project finance mandates come from in 2008/09
• Are long dated EM sovereign bond issues for infrastructure projects a solid investment – how much exposure is good for institutional investors?
  How do government infrastructure issues compare with corporate issues across EM?

16:30 OUTLOOK - Macroeconomic outlook across the emerging markets - identifying opportunities and havens for global investment

• How far are emerging markets a haven from current US and developed market volatilities?
• Identifying key factors driving growth in the BRIC economies and the wider EM nations, growth projections for 2008/09 and inflation trends
• What are the likely borrowing requirements in key EM nations and how might this translate into bond issuance in 2008/09?

17:00 Chairman’s Closing Remarks, Questions and Answers

17:15 End of Day 1

Friday 25th April 2008

08:30 Morning Refreshments

09:00 Chairman's Opening Remarks

Keith Mullin, Editor-in-Chief, IFR

09:15 REGIONAL FOCUS - Different strategies for different regions – short papers focusing on key regional investment strategies in EM and new niche opportunities in emergent markets

MIDDLE EAST

• Exploring opportunities in corporate and government bond and loan issues

 AFRICA

• Identifying successful issues such as Ghana in 2007/08 and market growth in sub-Saharan Africa after Kenyan turbulence

Russia and CIS

• Reviewing DCM and ABS activity and market trends in the coming year

CHINA, INDIA AND S.E ASIA

• Analysing adjusted regional growth projections and prospects for sovereign and corporate issuers in 2008/09

BRAZIL, MEXICO AND LATIN AMERICA

• How far might the growth of Mexico and Brazil’s fuel Latin American issues beyond the Brady bond era?

10:30 Q&A and discussion

11:00 Refreshments

11:30 EM  FUNDS PANEL - Surveying the development of EM funds and the benefits for institutional investors

• What are the key benefits of including EM funds in investment portfolios and what are investors currently looking for?
• What are the current EM regional, sector and investment product trends for 2008/09
• Which EM funds can be considered investment grade and how is current market performance influencing long and short positions in EM funds

12:30 Chairman's closing remarks following by lunch