In association with

Event Overview

About APAFS

Thursday, 7th of November 2013

Friday, 8th of November 2013

Breakfast and Registration

Welcome Remarks

Session 1

Session 2

Networking and Coffee Break

Session 3

Featured Luncheon Speaker

Session 4

Session 5

Networking and Coffee Breake

Session 6

End of Program

Breakfast and Registration

Recap Day 1 & Intro Day 2

Session 1

Session 2

Award Lunch

Session 3

Session 4

Closing Remarks

End of Program

7:00 AM

8:30 AM

8:45 AM

9:15 AM

10:15 AM

10:30 AM

11:30 PM

1:00 PM

2:00 PM

2:45 PM

3:15 PM

4:15 PM

7:00 AM

8:30 AM

8:45 AM

10:15 AM

11:30 AM

12:30 PM

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2:45 PM

Organized by the Asia Pacific Association for Fiduciary Studies and now on its 13th year, the Pacific Region Investment Conference (PRIC) is an annual gathering of fiduciary experts aimed to be the premier investment conference in the region. PRIC remains the largest conference in the region that focuses on the fiduciary marketplace. PRIC gathers numerous fund managers, investment experts, and finance professionals from around the globe to address fresh insights and information about current fiduciary trends, as well as relevant investment issues.

Year after year, APAFS never fails to tackle relevant topics and to provide the best speakers as sources of information. PRIC focused on emerging markets investing and outlook in 2009 having Dr. Mark Mobius as the Keynote Speaker. In 2010, Mr., Bud Conrad, 10th PRIC Keynote Speaker, shared his expertise on how to deal with the financial crisis prevalent worldwide. In 2011 Mr. Blaine Aikin, president of Fi360 introduced as Keynote Speaker, prestigious AIF® Certification Program that seeks to raise fiduciary standards in the region. Last year, Keynote Speaker Alexandria Tracy, Chairman of the ASriA, shared her expertise on sustainable investing with the theme: The Future Steward: Promoting Global Sustainability through social responsible investment.

The 2-Day Conference also tackles current issues such as global capital markets, corporate governance, regional retirement schemes, and other relevant topics. APAFS also presents the Fiduciary Essentials™ Certification (FE®) Program and the Accredited Investment Fiduciary™ (AIF®) Program prior to the conference.

The Asia Pacific Association for Fiduciary Studies (APAFS) is a Guam based 501 (c)3 non-profit educational and charitable association. APAFS was founded in 2000 by representatives from public and private institutional funds from around the Asia Pacific Region.

The goal of APAFS is to raise the level of understanding and standards of practice among fiduciaries in the region, so that they may provide the most prudent stewardship of the funds entrusted to their care.

In order to meet this goal, APAFS has embraced the following objectives:

1. To convene a conference annually, or as determined most appropriate by the Board of Governors, to address issues relevant to organization members and other interested parties, to include fiduciary best practices and investment related subjects. This conference shall be known as the “Pacific Region Investment Conference”.

2. To convene topic specific mini-conferences, each to be known as a “Country Conference”, as requested by members in the various member jurisdictions.

3. To convene educational programs designed to provide education to the region’s future fiduciaries at the college/university level throughout the various member jurisdictions. Each such program shall be known as a “Student Program”.

4. To provide other fiduciary training programs as determined appropriate by the Board of Governors, to include programs designed and offered by third party entities. APAFS currently offers the Accredited Investment Fiduciary™ (AIF®) Certification Course as well as the Fiduciary Essentials ® (FE®) Certificate Program; both designed and instructed by U.S. based Fi360.

5. To serve as a resource to members, by making the expertise of APAFS available for projects that member institutions may wish to undertake.

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I N T R O D U C T I O N

SCHEDULE AT A GLANCE

Hafa Adai!

Welcome to the 13th Annual Pacific Region Investment Conference! Every year APAFS continues to look for ways to remain cutting edge in the midst of a changing investment environment. We also bring back the Accredited Investment Fiduciary™ and the Fiduciary Essentials™ Certificate Training Program as part of this year’s 3 Back-to-Back Fiduciary Education

Programs together with PRIC. These programs represent our commitment to stay true to our mission of educating fiduciary stewards.

This year, we are privileged to have Mr. Lorenzo Tan, CEO and President of Rizal Commercial Banking Corporation (RCBC), as our Keynote Speaker. He will be sharing with us background and prospect of Philippine Investment and Financial Services. As the Philippine market continue to perform well and with the recent investment upgrades granted, we believe that this is the right time to learn what they did right to reach this stature.

Apart from this Keynote session, the Conference will address other timely issues relevant to fund sponsors, trustees and other fiduciaries, such as sovereign debt and country ratings, regional retirement systems, fixed income and global equity markets, global advancement of fiduciary practices, and other significant investment issues.

Again, thank you for joining us. I wish everyone a productive and rewarding conference.

Cheers,

Daniel A. Roland, CIMA®, AIF® Executive Director

Message from the Chairman

Message from the Executive Director

Hello and Welcome!

On behalf of the Board of Governors, welcome to the 13th Annual Pacific Region Investment Conference. This year’s conference brings together top tier speakers from the United States and from throughout the Asian Region to present topics in hopes of stimulating ideas and opportunities for the delegates.

I am excited to hear how we can further broaden our understanding about the existing issues and trends in the fiduciary industry. We shall also be discussing how the Philippines made itself as the second best performing market in Asia. We have been holding the annual PRIC here in the Philippines and it is a great time to talk about how it attained its investment upgrades as well as its evolution of the fiduciary standards.

Also of relevance will bethe discussions about global divergence and uncertainty, DC retirmement plans, and the global equity outlook. We will also be sharing the plans and goals of the Association for 2014 and beyond.

I expect the next few days to be “content rich”. But I encourage you to also take advantage of the cultural richness the Philippines has to offer. This is a beautiful country and the Association is proud to host our conference here.

In closing, thank you for your interest and I look forward to meeting with you as the conference progresses.

Gerard A. Cruz, AIF®Chairman

3 13th Annual Pacific Region Investment Conference

I N T R O D U C T I O N

CHAIRMANGerard A. Cruz, , AIF®Government of Guam Retirement Fund

VICE CHAIRMANPatrick Tellei, Ed.D.Palau Community College

TREASURERDavid O’Brien, AIF® University of Guam

SECRETARYAnna MendiolaFSM Development Bank

GUAMGerard C. Cruz, AIF®, Government of Guam Employees Retirement FundDave O’Brien, AIF®, University of GuamMary Okada, Ed.D. (alternate), Guam Community College

COMMONWEALTH OF THE NORTHERN MARIANA ISLANDSMelchor Mendiola, AIF®, Marianas Public Land TrustAlan Markoff, DDS, Northern Marianas College FoundationSkye Lynn Aldan, (alternate), Commonwealth Ports Authority

REPUBLIC OF THE MARSHALL ISLANDSJames Matayoshi, Rongelap Atoll Local GovernmentJohn Kaiko, Utrik Atoll Local GovernmentFrancis Carlos Domnick, (alternate), RMI Social Security Administration

FEDERATED STATES OF MICRONESIAAnna Mendiola, FSM Development BankAlexander R. Narruhn, FSM Social Security AdministrationJohn Ehsa, (alternate), Pohnpei State Office of the Governor

REPUBLIC OF PALAUPatrick U. Tellei, Ed.D. , Palau Community CollegeElbuchel Sadang, Ministry of FinanceSurangel Whipps, Jr. (alternate), Senate, OEK

MULTINATIONALMasa-Aki Emesiochl, College of Micronesia-Land GrantWilliam Kostka, AIF®, Micronesia Conservation Trust

U.S. MAINLANDRaaj Kurapati, University of Alaska

AMERICAN SAMOAEmey Silafau, American Samoa Community College

BOARD OF GOVERNORS

Adam Grotzinger, CFAAdam Grotzinger is a Vice President, Senior Product Manager based in Singapore and serves as the lead product representative for the Franklin Templeton Fixed Income Group across greater Asia, including Australia and Japan. Prior to Singapore, Mr. Grotzinger was based in London, UK as vice president, senior product manager responsible for product management of Franklin Templeton Fixed Income Group’s Global, European, and

emerging market fixed income strategies. He graduated cum laude from the University of Vermont with a B.S. in International Business. He is a Chartered Financial Analyst (CFA) Charterholder and member.

Lorenzo V. TanMr. Lorenzo Villanueva Tan is the Chief Executive Officer and President of Rizal Commercial Banking Corp, wherein he steered the bank to unprecedented growth on his first 5 years. He is a recipient of the Ten Outstanding Young Men of the Philippines Award for Banking in 1999, the International Association of Business Communicators CEO Excel Award for Insurance in 2006, and the Lifetime Achievement Awardee (2011) in Finance from De La Salle University. Mr. Tan graduated from De La Salle University with a Bachelor of Science degree in Commerce and holds a Master of Management degree from the J.L. Kellogg Graduate School of Management, Northwestern University in Evanston, Illinois, USA.

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KEYNOTE SPEAKER

S P E A K E R S P R O F I L E

Alexander R. Narruhn Alexander Robert Narruhn is the Administrator for the Social Security Program for the Federated States of Micronesia. He assumed the post in the year 2000 and has, for the past 13 years, successfully planned the systematic improvement of services provided by the FSMSSA. He is also a current member of the Board of Governors for APAFS and concurrently sits as the Chairman for both the FSM Banking Board and the FSM Insurance Board.He holds a Masters of

Arts degree in Management from National University in San Diego and certified by the University of San Diego in its post baccalaureate Lawyers Assistant program. Narruhn is a graduate of Micronesia’s prestigious Xavier High School.

Andrew M. Temming, CFAAndrew 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.

David J. 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.

Anton WoutersAnton Wouters is Head of LDI & Fiduciary Management within BNP Paribas Investment Partners, a function he already held when working for both ABN AMRO Asset Management and Fortis Investments. Prior his current position, he also served as Head of Structured Interest Rate Solutions at Structured Asset Management. Anton Wouters studied at Delft University of Technology (TU Delft) in the Netherlands and is a Mathematical Engineer.

Gerard A. Cruz, AIF®Gerard 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.

Hans B. Sicat Hans B. Sicat is the President and Chief Executive Officer of the Philippine Stock Exchange (PSE). 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.

Ador AbrogenaAdor Abrogena is an Executive Vice President and Trust Officer of the Trust and Investments Group of Banco de Oro Unibank, providing trust services to a wide range of clientele. He also served as President of the Trust Officers Association of the Philippines (TOAP). He earned a Bachelor of Science in Chemical Engineering and Masters in Business Administration from De La Salle

University. He also earned a Masters in Business Economics from University of Asia and the Pacific.

Carl Moss M.B.ACarl Moss is the London-based Senior Managing Director, Investments of INTECH’s International Division. Mr. Moss serves as INTECH’s investment specialist responsible for representing INTECH’s proprietary investment process to investors and consultants outside of North America. Prior to joining Janus, Mr. Moss spent 25 years in quantitative research and investment management. He holds an M.A. in Mathematics from the University of Oxford; an M.Sc. in

Mathematics from the University of Warwick; and an M.B.A. with commendation from Cass Business School. Mr. Moss has 30 years of investment experience.

Adilberto Antonio Torres III, CIMA®, AIF®Adilberto Antonio Torres III, CIMA®, AIF® is a Senior Vice President and Regional Director of Pacific Income Advisors, responsible for business development and client management in the Western United States and internationally. He also serves as the Relationship Manager for Broker-Advisor-directed channels. Mr. Torres earned his Bachelor of Science degree from Colorado State University and his Master of Business Administration from the University of Colorado at Boulder.

5 13th Annual Pacific Region Investment Conference

MISTRESS OF CEREMONIES

Jason B. Miyashita, AIFA®Jason Miyashita is Senior Investment Management Consultant and Second Vice President – Wealth Management at Morgan Stanley. 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).

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.

Peng Chen, Ph.D., CFA Peng Chen joined Dimensional in 2012 as chief executive officer of Asia (ex-Japan). In addition to his role as CEO Asia (ex-Japan), Peng is also a member of Dimensional’s Investment Policy Committee, and Chairman, Dimensional SmartNest (Dimensional Retirement). Prior to joining the firm, Peng served as president of Morningstar’s global investment management division. Peng holds a PhD and MS in consumer economics from Ohio State University. Before coming to the

US to pursue his graduate studies, Peng grew up in Harbin, China, and holds a BS in industrial engineering from the Harbin Institute of Technology in China.

Joseph A. NicholsJoseph A. Nichols. ASA, EA, MAAA, MSPA is owner of Nichols Actuarial Consulting, LLC, and has 25 years of experience in the pension industry. Joe has provided actuarial consulting to a variety of clients, from small business plans to statewide plans covering more than 40,000 participants. He also has acted as chief actuary consulting with the Republic of Palau Social Security Administration and Civil Service Retirement System as well

as for the Social Security Administrations of the Republic of Marshall Islands and Federated States of Micronesia. Joe holds a degree from the University of Nebraska-Lincoln with a major in Actuarial Science. He has also been a featured panelist and speaker at numerous pension industry conferences

Presley Etibek, AIF®Presley Etibek, AIF® is the Administrator of the Republic of Palau Civil Service Retirement Fund. He has been with the Fund since May of 2006. Prior to joining the Republic of Palau Civil Service Retirement Fund he served as Dean of Students at Palau Community College for 19 years. Panelist graduated from United State International University in San Diego California earning an MBA degree with concentration in Finance and Management. He holds a designation as an Accredited Investment Fiduciary (AIF®).

Kamani B. Kualaáu 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 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 Hawaii elders, serving those most in need. Kamani is a graduate of Princeton University and Kamehameha Schools.

Raffy AyusteRafael Ayuste is the President of the Trust Officers Association of the Philippines. He has been a Director of National Reinsurance Corp. of the Philippines since June 2012. He attended various seminars to equip himself while serving in the financial field such as Risk Management, Citibank Phils. in 1995; Financial Risk Management, Pi Eta Singapore in 2004; Risk Management, BNP Paribas in 2006 and Corporate Governance at Bankers Association of the Philippines (BAP) in 2007.

Lilian PangelinanSince September 2012, Lillian has been serving as the Acting Administrator of the Northern Mariana Islands Retirement Fund. Prior to assuming its top management position, Lillian served for eighteen months as an Internal Auditor for the Fund. She also spent more than twelve years of experience as a banking regulator with the CNMI Department of Commerce, serving as the Banking Administrator from June 2002 to February 2011 and as a Bank Examiner from June 1994 to June

1998. Lillian attended Chico State University where, in 1991, she achieved a Bachelor of Science in Business Administration (Finance).

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.

Ignatius ChoongIgnatius Choong is a Sales Director for international business development in Southeast Asia and Korea for asset management services and products of Wells Fargo Asset Management. Prior his current position, he also served as Managing Director for Wells Fargo Asia. He started his investment career in 1989 with Wells Fargo. He earned his bachelor’s degree in operations research and industrial engineering from Virginia Tech and received his MBA from University of Texas Austin.

Salve DuplitoMa. Salve Duplito is the Resident Financial Adviser of On The Money, a personal finance show aired on the ABS-CBN News Channel, where she has a regular segment called “Salve Says.” On top of all these, Salve is also a public speaker, communication consultant for organizations like the World Bank and the Asian Development Bank, and a financial planner. She worked for two decades

as a financial journalist for publications and won prestigious awards for her articles like the Jaime V. Ongpin Awards for Investigative Journalism.

Anna BuenaAnna Buena is a DJ, newscaster, and events host. She also writes in-house plugs and special show scripts for radio stations and a regular host for numerous corporate events.

Thursday, 7th of November 2013

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7:00 AM

8:30 AM

8:45 AM

9:15 AM

10:15 AM

10:30 AM

11:30 AM

1:00 PM

2:00 PM

2:45 PM

3:15 PM

4:15 PM

Breakfast and Registration

Welcome RemarksHans B. Sicat, President & CEO, Philippine Stock Exchange

Session 1: Factors that Led the Philippines to be the Second Best Performing Market in AsiaHans B. Sicat, President & CEO, Philippine Stock Exchange

Session 2: Navigating Global Divergence and UncertaintyAdam Grotzinger, CFA, Senior Manager, Franklin Templeton International

Networking and Coffee Break

Session 3: Prudently Managing Risks While Seeking Mandated Target ReturnsCarl Moss, Senior Managing Director, Janus Capital Group

Featured Luncheon Speaker: Inescapable Global Advance of Fiduciary PracticesRoss Fowler, AIFA®, President, fi360 Pacific

Session 4: Panel: Evolution of Fiduciary Standards in the PhilippinesRafael G. Ayuste, Jr., President, Trust Officers Association of the PhilippinesAdor Abrogena, Head of Trust and Investments Group; EVP of Trust Committee, BDO Unibank, Inc.

Keynote: Session 5: Background and Prospect of Philippine Investment and Financial ServicesLorenzo V. Tan, President & CEO, Rizal Commercial Banking Corporation

Networking and Coffee Break

Session 6: Liability Driven InvestingAnton Wouters, Head of LDI & Fiduciary Management, BNP Paribas Investment Partners

End of Program

Mistress of Ceremonies: Salve Duplito Financial Advisor, Public Speaker and Communication Consultant

Photos from the 12th PRIC

P R O G R A M D E TA I L S

Photos from the 12th PRIC

Friday, 8th of November 2013

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7:00 AM

8:30 AM

8:45 AM

10:15 AM

11:30 AM

12:30 PM

1:30 PM

2:30 PM

2:45 PM

Breakfast and Registration

Welcome Remarks

Session 1: Actuarial Funding Basics for Social Security Systems & Public Employee DB Plans Joseph A. Nichols, President, McCloud & Nichols – Session Speaker & Panel ModeratorGerard A. Cruz, AIF®, Board of Trustees, Government of Guam Employees Retirement FundLillian M. Pangelinan, Administrator, Northern Mariana Islands Retirement FundAlexander R. Narruhn, Administrator, Federated States of Micronesia Social Security AdministrationPresley Etibek AIF®, Administrator, Republic of Palau Civil Service Pension Plan

Session 2: DC Retirement Plans: Retirement Income Planning: A New Efficient Frontier & Outcomes Based Investment StrategiesDavid J. John, President, ASC Trust CorporationPeng Chen, PH.D., CFA, CEO, DimensionalFund Advisors PTE, Ltd.

Award Lunch: Founders Award Presented/ RemarksWilfred P. Leon Guerrero, Ph.D., Vice Chairman, Gov Guam Employees Retirement Fund

Session 3: Panel: Fiduciaries Dilemma: Fixed Income in 2013 & Global Fixed Income OutlookJason B. Miyashita, AIFA®, First Vice President, Morgan Stanley – ModeratorJeffrey D. Detwiler, CFA, Senior Portfolio Manager, Garcia Hamilton & AssociatesAdilberto Antonio Torres III, CIMA®, AIF®, Regional Director, Pacific Income Advisors

Session 4: Panel: Global Equity OutlookIgnatius Choong, Sales Director, Wells Capital Management – ModeratorKamani B. Kuala’au, Senior Vice President, Atalanta Sosnoff Capital CorporationAndrew Temming, CFA, Senior Portfolio Manager, Renaissance Investment Management

Closing Remarks: APAFS: Plans for 2014 and BeyondGerard A. Cruz, AIF®, Chairman, Board of Governors, Asia Pacific Association for Fiduciary Studies

End of Program

Mistress of Ceremonies: Anna Buena DJ, Newscaster, and Events Host

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. To learn more about BNP Paribas Investment Partners, visit www.bnpparibas.com.

Franklin Templeton Investments (Asia) LimitedFranklin Resources, Inc. is a holding company that, together with its various subsidiaries, operates as Franklin Templeton Investments®, a global investment management organization offering investment choices under the Franklin®, Templeton®, Mutual Series®, Bissett®, Fiduciary Trust™, Darby® and Balanced Equity Management™ brand names. For more details about Franklin Templeton Investments, please visit www.franklintempleton.com.

ASC Trust Company ASC Trust Corporation was founded in 1990 and was launched when the regional economy was undergoing unprecedented growth in the private sector. At the time there was no retirement system, other than Social Security, to support private sector employees. Over the years, many companies have tried to set up retirement plans using mainland providers to support their plans. More information about ASC Trust can be found at www.asctrust.com.

Atalanta SosnoffAtalanta Sosnoff is a single strategy firm founded in 1981. It is dedicated to achieving outperformance versus relevant benchmarks and peers regardless of the market environment. It is defined by investment research, dedicated client service and high ethical standards. For more information about Atalanta Sosnoff, please visit www.atalantasosnoff.com.

Garcia Hamilton & Associates, L.PFounded in 1988, Garcia Hamilton & Associates (GH&A) offers high quality fixed income, growth equity, and balanced strategies for both institutional and individual investors. Its diversified client base includes public funds, jointly trusteed plans, universities and endowments, religious organizations and corporations. For further details, please visit http://www.garciahamiltonassociates.com.

Income Research & ManagementIR+M is a privately owned investment management firm specializing in managing US fixed income portfolios for institutional and private clients. The firm believes that an open, collaborative culture promotes excellence from an investment team of high energy, curious individuals. For more information, please visit www.incomeresearch.com.

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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, NJ. MetWest Capital manages Value-oriented Equity, Balanced, International and Global portfolios for individual and constitutional clients. Its team of senior-oriented investment professionals have been working together since 1992 to manage long term portfolios for their base of the US and international clients. For further information about Metropolitan West Capital Management LLC, please visit www.mwcm.com.

Morgan Stanley Morgan Stanley Wealth Management is a global leader that provides access to a wide range of products and services to individuals, businesses and institutions, including brokerage and investment advisory services, financial and wealth planning, banking and lending, cash management, annuities and insurance, retirement and trust services. For further information about Morgan Stanley, please visit www.morganstanley.com.

T H E S P O N S O R S

SILVER SPONSORS

GOLD SPONSORS

PLATINUM SPONSORS

Bullion Investment CorporationBullion Investment Corporation (BIC) is based in Hagåtña, Guam. As authorized dealer of Bullion Management Group (BMG), BIC provides precious metals purchase and storage programs for private and public institutional investors throughout the Micronesia region. BIC President and CEO, Ashley K. Roland, AIF®, works with a strong network of investors interested in holding Good Delivery bullion which provides real wealth protection and portfolio diversification beyond traditional asset classes. For more details, please visit www.bmgbullion.com.

Dimensional Fund AdvisorsSince its founding in 1981, Dimensional Fund Advisors has strived to be a leader in translating academic research into practical investment application. Over the last three decades, the firm has aimed to set a new standard in portfolio design, introducing strategies customized to meet a broad spectrum of risk-return preferences. To experience Dimensional Investing, visit www.dimensional.com.

Milliman Consultants and ActuariesMilliman serves the full spectrum of business, financial, government, and union organizations. Founded in 1947 as Milliman & Robertson, the company has over 50 offices in principal cities in the United States and worldwide. Milliman employs more than 2,600 people, including a professional staff of more than 1,300 qualified consultants and actuaries. The firm has consulting practices in employee benefits, healthcare, life insurance/financial services, and property and casualty insurance. Visit www.milliman.com to learn more about Milliman.

Pacific Income AdvisersPacific Income Advisers (PIA) was founded in 1986 as an independent, employee-owned investment advisor specializing in fixed income portfolio management. PIA currently manages $13 billion in fixed income assets for Taft-Hartley Funds, Endowments and Foundations, Corporations, Public Funds, Insurance Companies and Private Clients. To learn more about Pacific Income Advisers, visit www.pacificincome.com.

Nuveen InvestmentsNuveen Investments is guided by a deep commitment to securing lasting value for institutions, high net worth investors, and the consultants and advisors who serve them. Since 1898, the firm founded by John Nuveen has offered a steadfast presence in rapidly changing markets. Evolving over the decades from providing public financing to managing public investment, Nuveen Investments has emerged as an innovator of U.S., global, and international investment solutions. To know more about Nuveen Investment, visit www.nuveen.com.

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Janus Capital GroupJanus Capital Group provides access to three experienced and highly specialized 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. For further details about Janus Capital Group, visit www.janus.com.

Renaissance Investment Management Renaissance Investment Management, founded in 1978, is a registered investment advisor with assets under management of $3.6 billion as of March 2013. Based in Greater Cincinnati, Ohio, the firm serves both institutional and high net worth clientele and offers a variety of investment management strategies. Renaissance’s strategies are based upon a foundation of intensive research and disciplined, process-oriented decision making. The firm serves clients both directly and through financial intermediaries, in the United States and overseas. Visit www.reninv.com for more details.

Robbins Geller Rudman & Dowd LLPRobbins Geller Rudman & Dowd LLP (“Robbins Geller”) has repeatedly been recognized as the world’s largest and most successful plaintiffs’ securities fraud litigation firm. With nearly 200 lawyers (many of whom are former federal and state prosecutors or ex-SEC lawyers) and more than 450 total employees, including forensic accountants, economists, damage analysts, investigators, paralegals, database programmers and computer security experts, Robbins Geller currently advises more than 800 institutional investors, including public and multi-employer pension funds, fund managers, banks and insurance companies. Robbins Geller has offices in San Diego, San Francisco, Washington, D.C., New York, Chicago, Philadelphia, Atlanta, Boca Raton and London. For more details, visit www.rgrdlaw.com.

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.

Gabelli Asset ManagementGAMCO 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.

BRONZE SPONSORS

REGISTRATION

LANYARD SPONSOR

SILVER SPONSORS

13th Annual Pacific Region Investment Conference

The FIDUCIARY ESSENTIALS™ (FE®) Certificate Programme

is a one day, classroom-based course, specifically designed

for high level investment stewards, and provides the

essentials for trustees, investment committee members,

administrators, advisors, attorneys and accountants on

how they can improve their knowledge of their role as

prudent fiduciaries, and to minimize their personal liability.

Fiduciary EssentialsTM (FE®) Certificate Training Program

ACCREDITED INVESTMENT FIDUCIARY™ TRAINING PROGRAM 2012 PHOTOS

ACCREDITED INVESTMENT FIDUCIARY™ (AIF®) Programme

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The ACCREDITED INVESTMENT FIDUCIARY™ (AIF®)

Programme is an in-depth, two day classroom-

based course, which covers all of the components of a

comprehensive investment process and related standards

of care. Successful completion of the programme prepares

interested participants to take the AIF® examination and

enable them to earn the AIF® designation.

3 F I D U C I A R Y E V E N T S I N T H E S A M E W E E KThis year, APAFS is also presenting two more financial educational programs to be held consecutively prior to the PRIC, the Fiduciary Essentials™ (FE®) Certification Program and, the Accredited Investment Fiduciary™ (AIF®) Program.

The FE® Certification Program is a one day, classroom-based course aimed to educate finance professionals in their roles as prudent fiduciaries, and to minimize their personal liability. This is specifically designed for high level investment stewards, and provides the essentials for trustees, investment committee members, administrators, advisors, attorneys and accountants.

The AIF® Training Program is an in-depth, two day classroom-based course, which covers all components of a comprehensive investment process and related standards of care. Successful completion of the program prepares participants to take the AIF® examination and enable them to earn the AIF® designation. Last year, over 30 participants took the AIF® Training Program in Manila, Philippines.

fi360 offers a full circle approach to investment fiduciary education, practice management and support that has established us as the go-to source of investment fiduciary insights. It’s mission is to promote a culture of fiduciary responsibility and improve the decision-making processes of investment fiduciaries. With defined Practices as our foundation, we offer training, tools and resources in support of that mission. Since 1999, fi360 has been supporting the investment fiduciary community both in the U.S. and internationally. We are the first organization dedicated solely to promoting a culture of fiduciary excellence.

11 13th Annual Pacific Region Investment Conference

“The duties of fiduciaries and professional investors become increasingly challenging, as technological change and the breadth of information now available put pressure on established ways of doing business. In addition to traditional financial metrics, long term investors must understand the so-called “externalities” that can impact their portfolios – including environmental, social and governance issues. In the search for alpha, some institutional investors are exploring emerging markets for the first time, or diversifying into new asset classes. Governance is critical to the management of complex investment portfolios, and an appreciation of how sustainability-related risks and opportunities may impact long term returns should be at its heart.” - Alexandra Boakes Tracy, 12th PRIC Keynote Speaker

P R I C Keynote Sp eaker I nsight

Photos from past PRIC

Marc Faber8th PRIC Keynote Speaker

Mark Mobius9th PRIC Keynote Speaker

Bud Conrad10th PRIC Keynote Speaker

Blaine Aikin11th PRIC Keynote Speaker

“The Annual Investment Conference continues to be one of the most anticipated investment conferences in the region as it never fails to tackle relevant issues in the fiduciary industries. We have the FE® Certificate Program aboard for the first time

and bringing for the third straight year AIF® Training Program facilitated by fi360™ “ shares Daniel Roland, APAFS Executive Director. “Holding the Conference in the Philippines this year is very timely and relevant with all the investment upgrades the Philippines has received lately and the continuous improvement of the Philippine economy. This a great time for more Filipinos to participate in the Conference and be equipped by international standards.”

Asia Pacific Association for Fiduciary StudiesCapitol Plaza Building 120 Father Duenas Avenue; Suite 102Hagatna, Guam 96910 USAwww.apafs.orgadmin@apafs.org

13th PRIC Secretariat | Leigh De Armas Email: apafs.pric@brandspeakasia.com

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

6/F Room 610 VGP Center, 6772 Ayala Ave.Legaspi Village,1229 Makati City, Philippines

Telefax +632 750-6510 or +632 501-5090www.brandspeakasia.com

INSTITUTIONAL MEMBERSHIP $200

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• May request a Country Conference on pertinent topics• Access to APAFS website and links

ALLIED MEMBERSHIP$2,500

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• May post link to services offered on APAFS website • May post approved articles and publications on APAFS

website• May be included in speaker database for all

conferences

Membership Dues Payment Methods:

By Check:Asia Pacific Association for Fiduciary StudiesCapitol Plaza Building 120 Father Duenas Avenue; Suite 102 Hagatna, Guam 96910 USA

By Wire Transfer:ABA Routing Number: 321480406 Account Name: Asia Pacific Association for Fiduciary Studies Bank Name: Community First Guam Federal Credit Union Bank Acct. No.: 140066-002

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.

Fund Managers Association of the PhilippinesThe Fund Managers Association of the Philippines or FMAP was established in 1997 with the mission of fostering the development of the capital and financial markets, in particular, the fund management industry. FMAP is an organization that represents the broadest cross-section of fund managers in the country from Trust Departments, Mutual fund companies, Insurance and pre-need firms, to retirement funds, private equity funds, and government-sponsored funds. Its membership has steadily grown over the past fifteen years to 45 member institutions who today collectively manage funds totaling US$ 95 Billion in Assets Under Management (AUM).

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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