Professional Course

Investment Management Academy

Euromoney Learning, In London
5 days
5,295 GBP
Next course start
6 November, 2023 See details
5 days
5,295 GBP
Next course start
6 November, 2023 See details
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Course description

Investment Management Academy

Whether you invest in domestic or international markets for institutions, pension-holders or private clients, the Investment Management will equip you with the skills required to increase returns, reduce risk, and retain investors.

Through structured study, group exercises and investment simulations, this interactive course will equip you with the tools you need to apply what you have learnt to real-world investment activities immediately on your return. You also have the unique opportunity to network with industry peers worldwide.

Upcoming start dates

1 start date available

6 November, 2023

  • Classroom
  • London

Training content

Day 1

Asset Allocation and Portfolio Optimisation

New Paradigms in Asset Allocation

  • The changing world of asset allocation
  • The demise of risk-free assumptions
  • Assets are undergoing structural change
  • Risk-on, risk-off mentalities
  • Why new approaches are needed
  • Relative Vs Absolute Vs Unconstrained investment approaches
  • How ETFs are disrupting the old landscape
  • Capturing risk premiums as cheaply as possible

Case Study: Introducing a complex case study – initial steps in asset allocation

Asset Allocation Theory

  • Inputs to the asset allocation decision
  • Models with alternative risk definitions
  • Correlations and the covariance matrix
  • Efficient frontiers and optimal portfolios
  • Utility functions and indifference curves
  • Static approaches to asset allocation – strategic asset allocation
  • Dynamic approaches to asset allocation – integrated, tactical and insured
  • Asset allocation rebalancing approaches

Case Study: Quantitative exercises in asset allocation

Asset Allocation, Asymmetric Returns and Post Modern Portfolio Theory

  • Asymmetric investment returns and how to achieve them
  • What fund managers need to know about PMPT
  • Applying the principles of PMPT to portfolios
  • The search for assets with asymmetric return distributions
  • Downside deviation and the minimum acceptable return
  • Target rate of return and upside potential ratio

Case Study: Applying the principles of PMPT

Dynamic Asset Allocation and Unconstrained Investment Approaches

  • The move towards more dynamic portfolio management
  • Multi-asset and multi-manager approaches
  • Constant active management and conviction driven decision making
  • Active risk budgets and volatility management
  • Downside risk management
  • Portable alpha and alpha transportation
  • Capturing the upside whilst controlling the downside

Case Study: Structuring the portfolio for an Asset Allocation

Day 2

Quantitative Equity Investing, Relative Value Investing and Investing in Private Equity and Venture Capital

Quantitative EPM Strategies

  • Principles guiding quantitative equity portfolio management
  • Moving beyond Markowitz mean-variance optimisation
  • Insights from Black-Litterman and Bayesian approaches
  • Factor choice, factor exposure and factor forecasting
  • Quantitative portfolio construction and management in emerging markets – challenges and pitfalls
  • Quantitative unconstrained portfolio management when conviction is high
  • Minimum-variance portfolios, construction and performance
  • Portable alpha in theory and practice
  • 130/30 strategies
  • ETFs – the vehicle of choice?

Day 3

Fixed Income Portfolio Management – Tools of the Trade

Sovereign Bond Analysis Today

  • The changing character of sovereign debt
  • Sovereign bonds and risk-free returns
  • Key drivers of sovereign credit quality today
  • Sovereign risk analysis and CDS spreads

Trainer Led Discussion: Reassessing sovereign debt risk in light of the credit crisis

Interest Rates, Yield Measures and Yield Curves

  • Overview of yield measures – current yield, yield-to-maturity, horizon yield
  • Nominal yields, real yields, index linked yields and inflation
  • Factors affecting bond yields and the term structure of interest rates
  • Overview of sovereign term structure theories
  • The treasury yield curve and how to interpret it
  • Analysis and interpretation of spot, forward, par and swap curves
  • The importance of the forward curve and forward rates
  • Interest rate and yield curve modelling

Day 4

Risk and Performance Measurement and Investing in Infrastructure

Risk Management and Modelling in Portfolio Management

  • Identification of risks in asset management
  • Integrating risk into the investment process
  • Different types of risk and how to measure them
  • Tracking error, VaR, downside risk, shortfall probability
  • Defining acceptable risk levels
  • Extreme event distributions
  • Exposure based risk models
  • The total level of active risk in the portfolio
  • Active risk and active risk budgeting

Day 5

Exchange Traded Funds – The New Building Blocks

Characteristics of ETFs

  • A brief history of the evolution of ETFs
  • Stimulants and catalysts behind the growth of ETFs
  • Why the ETF market is poised for further growth
  • An overview of the different types of exchange traded product
  • An overview of what is needed to create an ETF
  • Key differences between ETFs and tracker funds
  • Key differences between ETFs and open-ended mutual funds
  • Key differences between ETFs and closed-ended funds


Course fee: £5295 + VAT

Certification / Credits

How will this course will assist you?

  • On Completion of this 5-day course, you will be able to:
  • Devise asset allocation strategies for a post-credit crunch environment
  • Alpha analysis and information ratios in theory and practice
  • Learn and apply the principles of post-modern portfolio theory
  • Construct superior equity portfolios using behavioural finance theory
  • Reassess hedge fund investing in light of recent events
  • Learn how to implement portable alpha strategies via practical applications
  • Assess the opportunities offered by emerging alternative assets
  • Develop frameworks to accommodate real and tangible assets in portfolios

Why choose Euromoney Learning?

4.6/5 rating on course check for service

60,000 professionals trained across public courses

80+ countries where training is delivered

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Euromoney Learning

At Euromoney Learning, we understand that learning doesn’t start and end when you leave the classroom. We know that the financial markets never stand still, and that technology has both simplified and added complexity at a break-neck pace. That’s why...

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