The German economy has had a challenging year, but despite the market turmoil, for beneficial owners there remains an atmosphere of optimism. Stringent regulation and a conservative attitude to investing mean that allocations of monies to “risky” asset classes may not exceed even 35%.

Significant legislative change, including the 2009 Financial Standard Reform Act (Bilanzrechtsmodernisierungsgesetz), and the increased insolvency insurance premiums for German companies currently being implemented make for increased stability.

In the securities lending realm Germany experienced of one of the most extraordinary transactions in 2008 - Volkswagen/Porsche, the biggest short squeeze of the year. This combined with the forthcoming launch of a Central Counterparty in November 2009 make it a market in flux.

As recovery in financial markets begins now is a time where every basis point counts, securities lending can generate additional revenues for beneficial owners and asset managers. Will liquidity return to the market? How can beneficial owners manage risk?

GSL seeks to explore attitudes to securities lending in Germany and provide a forum for the concerns of owners, agent lenders, consultants and trustees - as well as visit opportunities of the new financial age.

Join GSL for a lunch and an afternoon’s detailed discussion at Villa Kennedy in Frankfurt in April, 2010