Portfolio Management and Investment Analysis

Objectives

• The one week programme in Portfolio Management and Investment Analysis aims to provide delegates exposure to an array of different asset classes together with appropriate techniques for performance management and risk assessment.

Outline

 Quantitative Methods
• Application of statistical techniques to financial markets
• Descriptive statistics (mean, variance, standard deviation, covariance, correlation, skewness, kurtosis)
• Selecting an appropriate chart to represent data
• Regression analysis
 Economics
• Key macroeconomic indicators
• Macroeconomic policy tools
• Exchange rate policy
• Leading indicators and sentiment indicators
 Financial Reporting and Analysis
• A walk through an annual statement: Balance Sheet , Income Statement, Cash Flow Statement
• Ratio Analysis:
 Industry metrics
 Apple v Microsoft
 Next v Tesco
 Corporate Finance
• Corporate Structure: Debt vs Equity
• Corporate Governance
• Mergers and Acquisitions
• Investment Appraisal
• The Dividend decision

 Equity Investments
• Types of equity investments: Ordinary shares, preference shares, ADF’s and ETF’s.
• IPO’s and rights issues
• Market Indices
• International Equity Market Linkages
 Portfolio Theory
• The Markowitz model of Portfolio Risk
• The Capital Asset Pricing Model
• A practical application of the CAPM to a range of companies
 Fixed Income Securities
• Bond pricing
• Bond Duration
• The term structure of interest rates
• The convexity of a bond
• Bond ratings
• Immunizing a bond portfolio
• Structured products
• Money Market Deposits/CD’s/Commercial Paper/Treasury Bills
 Derivative Securities I
• An introduction to the Derivatives Market
 Futures
 Options
• The cost of carry model
• Cash and carry arbitrage
• Reverse cash and carry arbitrage
• Using Futures to provide portfolio insurance
• Using futures to change a portfolios “beta”
• Spread trading:
 Intra-commodity spreads
 Intra-commodity spreads

 Derivative Securities II
• Using Options to provide portfolio insurance
• Option trading strategies.
• Option pricing
• Option Greeks
• Volatility trading
 Alternative Investments
• Opportunities offered by alternative investments:
 Property
 Commodities
 Art & Wine

Who Should Attend ?

Financial market professionals seeking to widen their knowledge base of financial products and investment analysis
Upper middle and senior management who joined the industry 10+ years previously who are looking to update their skill set
Regulators looking to understand current trends in financial markets