Fundamentals of Hedge Funds

Gain a comprehensive overview of the hedge funds market and learn the skills to effectively demystify the increasing complexity of strategies adopted

Course Highlights

An excellent course addressing all the key characteristics of hedge funds including regulation and compliance

F.D., Tudor

The knowledge of the roles and responsibilities of prime brokers, custodians, fund administrators and fund managers
The risk characteristics and structure of hedge funds
The advantages and disadvantages of investing in hedge funds
A clear understanding of the different hedge fund strategies
A clear understanding of the regulation of hedge funds and the legal issues
The latest developments in the hedge fund industry

For details of the course trainer, please download the course brochure

Booking Information

Dates	Prices	Book This Course	Discount
17 - 19 Jun 2009	£ 2199		-

Course Programme

An excellent course addressing all the key characteristics of hedge funds including regulation and compliance

F.D., Tudor

Excellent presentation

Y.M.A., The National Commercial Bank

The best course I've been to!

E.G., Man Investment Products

Day One

Session One: Why hedge funds?

The rise of alternative investments
The market for hedge funds and its recent growth
Benefits of adding hedge funds to traditional portfolios
Hedge fund terminology
Hedge fund products
Investment tools of hedge funds summarised: leverage, concentration and liquidity

The delegates will be able to define an alternative investment vehicle as well as why and how they have become such an important part of the investment world.

Session Two: Structure and Service Providers

Hedge fund managers & management companies
Administrators and custodians
The role of the Prime Broker
How hedge funds manage risk

The delegates will be able to identify the different types of management structure as well as the importance of those bodies providing services to hedge funds.

Session Three: Investors and Hedge Funds

The paradigm shift to absolute return style investing
The evolving hedge fund clientele
Different hedge fund styles for different clients
Understanding the hedge fund selection process of investors
Hedge fund products from a product sponsor viewpoint
Typologies of hedge funds and hedge funds indices
The compelling sales argument for hedge products

Day Two

Session One: Fund Strategies

Global macro
Managed futures
Emerging markets
Behavioural finance

The delegates will have worked through examples to exemplify these hedge fund strategies.

Session Two: Equity Based Strategies

Long/short equity
Short bias funds
Equity market neutral
Small company/Reg S investment
Liquidity in long short strategies
Anomalies in equity markets that allow these strategies to exist

The delegates will have worked through examples of these strategies and will be able to explain how they operate in practice.

Session Three: Fixed Interest Hedge Funds

Credit & capital structure arbitrage
Government bond arbitrage
Mortgage backed securities
CDO and securitised product trading strategies
Other bond hedge fund styles

The delegates will be have worked through examples of these hedge fund styles and be able to explain their workings to clients.

Session Four: Arbitrage Styles

Convertible bond arbitrage
Risk and index arbitrage
M&A arbitrage
Arbitraging between different financial instruments [e.g.ADRs/cash]

The delegates will have worked through examples of these hedge fund styles and be able to explain their use in performance & diversification.

Day Three

Session One: Fund of Hedge Funds, Managed Accounts, or Hedge Fund portfolios

Institutional Investors and the compelling rationale for hedge fund investment
The case for and against fund of Hedge Funds
Structured products on funds of Hedge Funds
Running an internal portfolio of Hedge Funds
Recent developments in fund of funds

The delegates will be able to recognise the advantages in the fund of funds model and contrast and compare them against structured and guaranteed products.

Session Two: Selecting Hedge Funds

The Hedge Fund Manager selection process
The due diligence process
Fund documentation and manager meetings
Ongoing monitoring of a portfolio of hedge funds
Style based analysis of funds

Session Three: Hedge Fund Risk Management

Managing Investment Risk in hedge funds
Regulatory control of hedge funds

The delegates will be able to analyse and understand the recent developments in markets and the impact they will have on the hedge fund industry.

The last section of the course will be devoted to using the material taught to help delegates position their own firm in the field of hedge fund investment.