Day Two - Friday 7th November 2008

New challenges for sovereign wealth managers in Asia

08.20 Registration and breakfast

08.50 Chairman’s opening remarks

Heung Sik Choo, Lead Financial Officer, Sovereign Investments Partnership, World Bank Treasury and formerly Head of Planning Team, Reserve Management Department, Bank of Korea

09.00 Managing Chinas sovereign wealth: Current trends and future possibilities

He Fan, Director of World Economy and Policy Research, China Academy of Social Sciences and Advisor, China Ministry of Finance

09.30 Panel discussion Liquidity and beyond: New uses for central bank reserves in emerging economies

• Causes and nature of Asia’s rapid foreign exchange reserve build-up
• Extent of “excess reserves” in Asia
• Macroeconomic implications of spending reserves on domestic projects
• Prospects of Asian countries’ sovereign wealth funds to use their reserves more productively
• Impact of Asian SWF investment activity on host countries and international financial stability

Heung Sik Choo, Lead Financial Officer, Sovereign Investments Partnership, World Bank Treasury and formerly Head of Planning Team, Reserve Management Department, Bank of Korea
Sinan Al-Shabibi, Governor, Central Bank of Iraq
Donghyun Park, Senior Economist, Asian Development Bank
Ramgopal Agarwala, Senior Adviser, Research and Information System for Developing Countries, New Delhi

10.10 Managing foreign exchange risk in official/sovereign portfolios

Arjan Berkelaar, Principal Investment Officer, World Bank Treasury

10.40 Morning refreshments

11.10 Optimising Asia’s sovereign wealth

• Managing pension reserves in selected Asian countries

Mukul G Asher, Professor of Public Policy, Lee Kuan Yew School of Public Policy, National University of Singapore

• Establishing a future fund for Hong Kong

Alan Lung, Chairman, Hong Kong Democratic Foundation

12.10 Panel discussion Charting the future path for the management of sovereign wealth

• To what extent can sovereign wealth funds help central bank reserve mangers to get rid of unwanted foreign exchange risk?
• Are sovereign wealth funds bringing about a deepening of the markets?
• What is the optimal relationship between sovereign wealth managers and other real money investors

Moderator Kirk West, Managing Director, Principal Global Investors East Asia
Alan Sheppard, Chief Manager, Reserves, Foreign Exchange Division, Bank of England
Arié Flack, Advisor to the President, Caisse des Dépôts et Consignations
Takatoshi Ito, Professor, Faculty of Economics and Graduate School of Public Policy, University of Tokyo and member of the Council on Economic and Fiscal Policy