124 West Capitol, Suite 400Little Rock, AR 72201

www.apers.org/es30

Duncan BairdExecutive Director

The Capital HotelLittle Rock, Arkansas

Tuesday, October 22, 2019

LaSalle Investment Mgmt Matthew Walley Joe MunozLazard Asset Mgmt Tony Dote Robert FaillaLSV Asset Mgmt Scott KemperMacKay Shields Heather Howell Stephen Cianci Steven BuckleyMellon Investments Corporation Todd BaileyNewton Investment Mgmt Suzanne Hutchins James Blake Daniel WalshPGIM Fixed Income Rupal Shah Michael CollinsPinnacle Timberland Mgmt, Inc. Barry Beers Hank PageSSI Investment Mgmt, Inc. Wambui Lynch Florian Eitner George DouglasStephens Investment Mgmt Group John Keller Patrick WhiteTA Realty Jim Raisides

Wellington Mgmt Zander Grant

Wells Fargo Asset Mgmt Jon Cangalosi Amanda Leong

AQR Capital Mgmt Ryan RampersaudArtisan Partners Aaron Roberts Ryan WoodBaillie Gifford Joe Faraday Fraser ThomsonBlackstone Lucy GoodlingBNY Mellon Carlos Pacheco Michael McDermott Nina CarusoCallan Associates Brianne Weymouth John Jackson Avery RobinsonCastleArk Jerry Castellini Kevin DolsenDoubleLine Christine Chun Barbara ZieglerGabriel Roeder Smith & Co. Heidi Barry David Hoffman

Heitman Anne Westbrook Jenny May Blaise Keane Tom McCarthyHorrell Capital Mgmt, Inc. Kim Horrell Scott HorrellINTECH Adam Craig Leanne SchmittInvesco Core Real Estate Bill Grubbs Max Swango

30th Annual

EducationalSeminar

www.apers.org/es30

Attendees

11:15 a.m. to 11:45 a.m. Discussion - International Equities

Session adjourns

Lunch (Baxter Parlor)

8:00 a.m. to 8:45 a.m. Breakfast (Baxter Parlor)

8:45 a.m. to 9:00 a.m. Welcome – Opening Remarks

9:00 a.m. to 10:00 a.m. Discussion Panel - “What’s going on?”

10:00 a.m. to 10:15 a.m. Break

10:15 a.m. to 11:15 a.m. Discussion Panel - “What’s going on in Real Estate?”

Mr. Duncan Baird Executive DirectorMr. Carlos Borromeo Chief Investment OfficerMs. Laura Gilson Chief Legal CounselMs. Usha Doolabh Investments Operations Mgr

APERS Board of Trustees

APERS Staff

Seminar Agenda

Ms. Candace Franks, ChairState Employee Representative

Mr. Larry Walther, Vice ChairEx-Officio, Chief Fiscal Officer of State

The Honorable Joe HurstMunicipal Employee Representative

The Honorable David HudsonCounty Employee Representative

The Honorable Andrea Lea Ex-Officio, Auditor of State

The Honorable Dennis Milligan

Ex Officio, Treasurer of State

Mr. Daryl BassettState Employee Representative

Mr. Gary CarnahanMunicipal Employee Representative

Mr. Dale DouthitState Employee Representative

This discussion will focus on the current allocation for the APERS international equities asset class.

Real Estate has been a solid performer for the APERS portfolio over the past few years. This discussion panel will provide insight regard-ing the current state of the real estate market. All real estate (core, value add, and opportunistic) are fair game to be discussed.

Panel members will be as follows: • Mr. Tom McCarthy, Heitman Investment Management• Mr. Joseph Munoz, LaSalle Investment Management• Mr. William Grubbs, Invesco Real Estate• Mr. James Raisides, TA Realty Associates

A discussion regarding all the events that are currently taking place in the global markets. Subjects ranging from Brexit, to the rate cuts from the Federal Reserve Bank, to terrorism in the oil markets, to tariff threats. Panel members will be as follows:• Mr. Jerry Castellini, CastleArk Management LLC• Mr. Michael Collins, PGIM Fixed Income• Mr. Rob Failla, Lazard Asset Management• Ms. Suzanne Hutchins, Newton Investment Management