Day ONE

Profiting from Pension Privatization in Latin America

April 22-23, 1998

Windows on the World, World Trade Center
107^th Floor
New York, NY 10048-0202
Phone: (212) 524-7008

Day ONE, Wednesday April 22, 1998

7:45 Registration and Continental Breakfast

• Exploring privately administered, national system of mandatory retirement savings
• Determine the relationship of pension funds and investment retirement savings
• Assessing the impact of competition for contributors money: what are the results?
• Creating pension privatization free from government management
• Implementing a public coalition to support sound economic policies and eliminate inflation

Pedro Corona Bozzo, Chairman, FEDERACION INTERNACIONAL DE ADMINISTRADORAS DE FONDOS DE PENSIONES, FIAP

• Chile as a benchmark model for Privatization
• What do participants require from a pension system?
• The explicit and implicit drawbacks of the "Chilean Model" and its different versions.
• Latin America regulators recent response to implementation challenges.
• Future developments for greater efficiency

Rogelio C. Marchetti, Regional Vice President–Pensions Latin America
AIG Global Pensions

The real benefits of having a fund rated
Factors considered in the assignment of a rating

• Outlook for the expanded use of risk assessment in Latin America

Parry Young, Director, Standard & Poor’s

• Increase profitability opportunities globally
• Growth within the domestic markets: and how will it effect foreign investments?
• Building a solid infrastructure to secure investors savings
• Evaluating money flows into pension funds
• Examine the savings rate of the domestic society

Examining the exchange rate and its effect of share pricing
The impact that the Balance of Trade has on government policies

• Forecasting GDP growth

• The impact of the domestic market on pension funds
• Strategies to secure and retain capitalization

Isaac Cohen, Director, U.N. Economic Commission for Latin America

12:10 Luncheon for Delegates and Speakers

• Exploring regulatory issues effecting outsourcing
• Examining tax implications
• Uncovering regulatory issues detrimental to growth of pension funds
• Likely impact of international litigation

Dr. Ignacio Kruguer, Gerente General, Superintendencia de Administradoras de Fondos de Jubillaciones y Pensiones.

• A panel of representatives from Chile, Argentina and Peru

Discussing Risk and Reward, the dangerous of pension privatization, the satisfaction of pension privatization, management styles and techniques, the importance of capital markets, the future of privatization.

Pedro Corona Bozzo, Chairman, FIAP/ Jorge Ramos, Manager of Investment and Finance, Integra AFP/ Dr. Ignacio Kruguer, Gerente General, Superintendencia de Administradoras de Fondos de Jubillaciones y Pensiones

3:00 Afternoon Break

4:15 End of Day One

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