The Asset Management Industry

Introduction

This course is designed for delegates who wish to obtain a thorough understanding of the asset management industry, both from a front office and a compliance perspective. The programme examines fund marketing strategies, market anomalies research and fixed income case studies. It addresses regulatory requirements from the Financial Conduct Authority, the effects of Liability Driven Investments, MiFID compliance, Brexit implications, and fund accounting standards including equalisation practices.

Suggested Delegates

• Investment advisors
• Investment managers
• Compliance staff
• Sales and marketing managers
• Regulators

Agenda

Front office perspective

Market anomalies, fixed income and negative interest rates, ECB policy, swaps, derivatives, bond mispricing, foreign exchange risk and fund pricing.

Need for regulation

Leverage, split capital funds, and depository structure overview.

FCA

FCA rulebook overview, conduct of business rules, prudential versus consumer rules, Basel 2 and Solvency regulations, fund structures (OEIC/UT/ACS/SICAV), asset settlement and depository roles.

Liability Driven Investments

Lessons from recent market events, initial and variation margin, leverage applications, and equity versus bond investment comparisons.

Challenges facing the asset management industry

Active versus passive funds, competition concerns, benchmarking, and risk-adjusted capital returns.

MiFID

Fee structures, exchange operations, trade reporting, market impact, and regulatory reporting requirements.

Funds benchmarking

Transfer pricing, VaR, correlation, volatility analysis, asset types, risk management policies and various investment categories.

Market developments

Pension schemes (defined contribution and defined benefit), interest rate impacts, and trustee considerations.

Dilution / equalisation and accounting

Investment accounting, benchmarking reporting, charges and performance metrics.