Page 12 - MONECO Financial Training Catalogue

INVESTMENT MANAGEMENT – ASSET ALLOCATION, PORTFOLIO CONSTRUCTION AND INVESTMENT STRATEGIES
DATES: November 4 – 6, 2024 • PRICES: € 1,950 In-class, € 1,463 Online • LOCATION: Prague and Online

• Overview of Asset Classes Course Description
and Instruments This course provides a broad overview of critical elements in the investment process;
reviewing basic financial instruments and their characteristics, aspects of portfolio
• Asset Pricing Models: construction and quality control as well as forecasting risk and return. The course will
CAPM, APT and also focus on some of the more practical challenges facing industry practitioners today
Multi-Factor Models in managing strategic and tactical portfolios through a wide range of traditional and
alternative asset classes.
• Diversification: Eggs, Although the Investment Management course was designed with professional investment
Baskets, Umbrellas and Ice managers and analysts in mind, its wide-ranging syllabus also offers an excellent guide to
Cream investment management generally. For this reason it can also be used as a knowledge-
building introduction for those needing to better understand practical application of
• Strategic Asset Allocation investment theory and current issues.
and Portfolio Construction Methodologies
The methodology of this course is application oriented, leaving room for discussions and
• Quantitative Portfolio participant questions.
Management
Target Audience
• Tactical Asset Allocation Junior investment professionals, investment committee members, senior management,
relationships and sales professionals.
• Derivative Strategies for Materials
TAA Participants will receive a binder with the slides presented and access to spreadsheets

• Risk Monitoring and containing example calculations for all models and concepts discussed.
Benchmarking

15
MONDAY, NOVEMBER 4 Diversification: Eggs, Baskets, 13 –17 00
00
09 – 09 15 Umbrellas and Ice Cream Bond Analysis and Portfolio
Welcome and Introduction • Diversifiable and Non-Diversifiable Management
15
09 –12 15 Risk • Fixed-Income Securities – general
The Investment Mandate • Effect of Asset Correlations and features of bonds, Government bonds,
• Investment Objective Volatility on Portfolio Volatility Agency bond, Corporate bonds;
• Investment Strategy and Benchmark • Stability of the Variance-Covariance Convertible bonds; Asset-/Mortgage-
• Risk Tolerance, Correlations and Loss Matrix backed securities
• Eligible Instrument Universe • Diversification by Geography and • Bond Analytics – Discounting
• Diversification Constraints Asset Class the expected cashflow (coupons,
• Example: Relative vs. Absolute Return repayment), yield to maturity; price/ytm
Mandates TUESDAY, NOVEMBER 5 relationship
00
09 –12 15 • Yield Measures and Forward Rates
Overview of Asset Classes and Forecasting Asset Class Returns – Sources of return, Traditional yield
Instruments • Valuation Ratios: Price/Earnings, measures, Yield spread measures;
• Cash: Deposits, CD, CP, Bills Reverse Yield Ratio, Earnings Yield Forward rates
• Government Cash Bonds, Futures and Ratio • Measuring Interest Rate Risk
Options • Equity Risk Premium • Fixed-Income Portfolio Strategies –
• Stock/Common Equity and Stock • Dividend Discount Model Selecting the Benchmark, Portfolio
Options parameters, Duration and Yield curve,
• Corporate Bonds and Derivatives: Strategic Asset Allocation and Volatility, International Corporate Bonds
Vanilla, Convertibles, CDS Portfolio Construction
• Stock Index EFTs • Estimating the long-term Variance- WEDNESDAY, NOVEMBER 6
00
• Private Equity, Real Estate REIT Covariance Matrix 09 –12 15
• Commodity ETFs, Indices and Futures • Portfolio Optimisation: Markowitz Corporate Credit Strategies
• Active ETF, Exchange Traded Products • Incorporating Higher Moments: • Investment Grade: Yield Surfaces and
CVaR, Drawdown Comparables
15
12 –13 15 • Constraints, Estimation Error and • High Yield Fixed Income: Bond/Equity
Lunch break Other Practitioner Issues Hybrids
15
13 –17 00 • Identifying the Optimal Portfolio • Using CDS for Tactical Credit Exposure
Asset Pricing Models: CAPM and • Examples: Balanced, Endowment and Hedging
APT Models and Core-Satellite
• Opportunity Set and Efficient Frontier Tactical Asset Allocation
15
• CAPM, APT and Multi-Factor Models 12 –13 15 • Augmenting Strategic Returns with
• Factor Analysis and Principal Lunch break Tactical Alpha
Component Analysis • Tactical Investment Horizon Equilibrium
• Case Study: Factor Identification Breakdown and Crowd Behaviour
12 Hybrid course – both classroom and online training available.