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Risk Management
Total risk management is the combination of all the elements of risk management into a consistent strategy...
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Training - Investment Banking
Derivatives in Fund Management:
2 days
The Basics of Futures and Forwards
- What is the underlying asset for these contracts?
- Equity indices, government bonds, foreign exchange, short
term interest rates
- What is the difference between a forward and future?
- Exchange-traded vs OTC
Valuing Contracts
- What is the fair value for a contract?
- Calculating the forward delivery settlement price
- Basis, pricing contracts, ticks
- Calculating the closing settlement price (EDSP)
- Backwardation and contango
Trading Futures Contracts
- The main derivative markets
- Liffe, Eurex, CBOT, CME, Simex
- Electronic vs open-outcry trading
- Opening and closing out positions
- Clearing
- Role of the Clearing House
- Novation, initial margin, guaranteed settlement
- The role of clearing brokers
- Securitising derivatives positions
- Initial margin, cash buffers, using other collateral
- Variation margin
Futures
- Valuing index futures
- How do portfolio managers use index futures?
- Efficient Portfolio Management (EPM)
- Hedging, asset allocation, pre-allocation before the cash is
received
- Pricing and using stock futures
Bond Derivatives
- Change portfolio duration
- Asset allocation: Bonds vs Equities
Currency Contracts
- Using currency derivatives for international portfolio
management
- Currency overlays and hedging
Options
- Using options in portfolio management - hedging, insurance
- Writing options to increase portfolio income
Regulations Governing the Use of Derivatives by Portfolio
Managers
- FSA regulations
- Efficient Portfolio Management
- New UCITS rules
- Trustee regulations
- Client restrictions
HOW YOU WILL BENEFIT
This course provides a fast-track understanding of the main
derivative tools that are available to investment managers. It
introduces the concepts of forwards, futures and options
before exploring their uses in efficient portfolio management.
The course also covers the regulations governing the use of
derivatives; accounting for derivative in portfolios and
performance measurement attribution. Case studies and
workshops form an integral part of the course, to allow the
delegates to consolidate the information and provide the basis
for group discussions.
Course Fees
VAT to be included at the local rate, if applicable. Costs
shown are per delegate inclusive of refreshments, lunches and
seminar materials. Cost of accommodation is not included.
GBP 2500
Certificates of Participation
Certificates of participation are remitted to course
participants upon request. |
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