Fundamentals Of Fund Management

Theory and practice explained at an introductory level

Course Highlights

I do not deal with asset allocation directly, but my gained knowledge will help me have a better view and be able to advise customers

A.C., Alpha Bank

Different types of fund management and investment styles
Various investment products and their respective markets
Asset allocation within the investment decision making process
Benchmarking and risk control
Investment performance measurement and verification

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

Booking Information

Dates	Prices	Discount
08 - 10 Jul 2009	£ 2099	-
30/Nov - 02/Dec 2009	£ 2099	-
12 - 14 Apr 2010	£ 2099	-

Course Programme

I do not deal with asset allocation directly, but my gained knowledge will help me have a better view and be able to advise customers

A.C., Alpha Bank

“The trainer is a professional speaker with a vast experience, which is vital when training delegates with a wide range of experience.”

I.P., Gartmore

I received a good theoretical base that will help me to be more rational in my day-to-day practical work in equity management

C.K., Lloyds TSB

Understanding the fundamentals of investment

Investors: their requirements and objectives
Understanding risk, diversification and inflation
Examining investment assets

characteristics
historical returns
projecting returns

Examining types of funds and investment products

Explaining different types of funds and their characteristics

conventional funds
pension funds
mutual funds and unit trusts
collective investment schemes (OEICS)
tracker / index funds
hedge funds
money market funds

Examining investment products and their applications

equities - domestic and overseas
bonds
commodities
derivatives: futures

Understanding the fund management process

Understanding the theory behind fund management
Role and responsibilities of fund managers
Planning for optimal portfolio returns

setting investment objectives
the constraints of the fund manager
strategic asset allocation to enhance portfolio performance

Implementing strategies to maximise performance

mandate definition
how and why benchmarks must be specified

Effective management for ultimate results

tactical asset allocation
securities selection

Controlling the process

performance measurement
attribution analysis

Linkage between economic activity and investment markets

The key drivers
The business and investment cycles
A cyclical approach to investment
Sentiment, excesses and crashes

Analysing fund management styles

Examining the most common styles fund managers use to achieve their investment objectives:

asset class and geographic diversification
active strategies
passive strategies
top down approach
bottom up approach
sector rotation style
growth investing
value investing
momentum style
small capitalisation style

Comparing fund management styles

Fixed income fund management

Mastering the concepts of duration and convexity
Understanding bonds pricing
Learning the theory and practice of portfolio switching
Bond portfolio management of annual returns
Examining bond swapping techniques

Equity fund management

Understanding the fundamentals of equity analysis

financial analysis
key accounting and valuation ratios
interpretation of valuation ratios
qualitative considerations

Comparing active vs passive equity fund management
Examining index funding or tracker funds

Examining other types of fund management

Cash fund management
Money market funds
Alternative investment

real estate
venture capital
unlisted equities

Asset allocation within the investment decision making process

Determining clients aims and objectives
Asset / liability management
Strategic and tactical asset allocation
The decision making levels:

assets
currencies
countries
sectors
stocks

Understanding modern portfolio theory

Evolution, insights and applications
Understanding mean-variance analysis

expected returns
historical variances
historical correlation

The benefits of diversification across portfolios
Controversies and weaknesses arising from the application of MPT to fund management practice

Investment performance evaluation

Successfully measuring investment returns
Risk adjusted measures to optimise portfolio strategy
Benchmarks - what are they and when should they be used
Attribution analysis to ensure effective measurement and control
The importance of client reporting
GIPS