• Overview of AWM

• Asset Management Products

  • Active Management

  • Passive Management

  • Alternatives

• Wealth Management Products

  • Private Client

  • Family Offices

  • Professional Advisors

• Investor types and Market segmentation

Overview topics

Contextualising asset & wealth management

• Introduction to financial markets:

  • Financing & risk-transfer

  • Infrastructure

  • Regulators

• Structure of the Asset and Wealth Management Industry

• Key concepts in Asset & Wealth management:

  • KYC & suitability

  • Custody

  • Investment funds basics

• Overview of Money Markets

• Money market instruments e.g. Commercial paper versus certificates of deposits

• Interest Rates – Floating versus Fixed Rates

• Interest rate maths, day-counts

• Central Bank rates versus LIBOR, EURIBOR, etc.

• Bond Fundamentals

• Intuitive Pricing

• Yield Curves

• DCM and new issuance

• Other Fixed Income Products

Fixed income products

• Fundamentals of equity products

• Equity Valuation Guidelines

• Price Earnings, growth versus value stocks

• Dividend yield

• Collective Investments

• Equity Indices

• Equity Capital Markets

• Trading venues overview

• How an exchange operates

• Orders & processing

Equity products

• What is an ETF

• ETF issuers and investors

• Understanding how ETF work: creation units, Authorised Participants, NAV calculation

• Comparing ETF and mutual funds

• ETF types: physical & synthetic, leveraged ETF and actively-managed ETF

• Other important ETPs: ETNs

• Using ETFs

• Risks and benefits of using ETF

ETFs

• Delivering a solution to a client

• The various types of wrappers

• Fund wrappers: OEIC, UIT, UCITS, SIF, 40Act fund

• Understanding UCITS: scope, mutual recognition, investment restrictions

• Non-fund wrappers: SPV, managed accounts, ETN, EMTN, structured deposits, Life Insurance contracts

• On shore vs. offshore vehicles

• Credit risk, Legal and tax considerations when choosing a wrapper

Wrappers

• Investment process and investment horizon

• Strategic and Tactical Asset Allocation

• Investment mandate and asset class allocation

• Risk Return

• Fund Selection

• Active vs. Passive

• Core Satellite Approach

Asset allocation

• Team based  on-line simulation based on real historical data

• Simulation with portfolio of indices and individual securities.

Portfolio simulations

Know your Customer

• Mean-Variance framework

• The Markowitz model

• The Black Litterman model

• Portfolio Risk and Return

• Expected Returns

• Measuring Risk

• Normal Distribution, Covariance,

• Correlation

• Systematic versus unsystematic risk, the CAPM

• Diversification in Practice

Portfolio construction

• Calculating returns, time versus money-weighted, arithmetic versus geometric

• Indices, choosing and constructing a benchmark

• Performance measurement, alpha, Treynor & Sharpe ratios

• Attribution analysis

Performance management

• Hedge Fund Strategies

  • Global Macro

  • Relative Value

  • Event Driven

  • Arbitrage

• Differences between a hedge fund and mutual fund

• Fee Structures, high watermark 2/20

• Private Equity

  • Leverage Buy Outs

Hedge funds

• Different Real Estate Valuation Methods

• Income Approach

• Cost Approach

• Market Approach

• Different types of Real Estate and financing attractiveness

• Ways of investing in Real Estate e.g.
  Direct Investment versus REITs

Real estate

• Principles of Valuation

• Enterprise Value versus Equity Value

• Relative Valuation

  • Market Multiples

  • Precedent Transactions

  • Sum of the Parts

• Cost of Capital

  • Cost of Equity

  • Cost of Debt

• Beta – levered vs Unlevered

• CAPM

• Terminal Value

• Gordon Growth Model

• Return on New Invested Capital

• Discounted Cash Flow Modelling

Equity valuation

• Understanding fiduciary duty and best execution

• Internal process and policies; identifying conflicts of interest

• Avoiding execution malpractice, litigation and reputation risks

• Understanding client needs, client segmentation and KYC

• Ascertaining and monitoring product suitability

• Disclosing fees and risks in products

• Assets safeguard and custody

• Product valuation and secondary market

Environmental, social and corporate governance standards

• Spot Markets and Cross Rates

• Forward Markets

• Currency management in a portfolio

• Commodities as an asset class

• Backwardation versus Contango

Currencies and commodities

• Forward Pricing

• Why interest rate forwards are different

• Key features and applications of forwards across asset classes

• Introduction to swaps

   

Forward priced derivatives

• Option fundamentals

• Intuitive pricing and risk management

• Portfolio hedging and optimisation with options

• Non-conventional pay-offs

• Using options in practice

• Collateral management

• Central-clearing & counterparty risk monitoring

Options

• Duration hedging

• Asset and liability matching

• IRS and credit derivatives

• Equity futures and swaps

• Hedging the share classes of a fund using FX forwards

• Understanding the regulatory restrictions on the use of derivatives under UCITS

• Stock-lending, repo and other Efficient Portfolio Management techniques

Using derivatives in portfolios

• Designing structured products

• Risk and Return

• Risk and Return for the client

• Implementing structured products in portfolios using swaps

• Achieving capital protection in a fund:

  • Using options

  • Using CPPI

Structured products