The purpose of this seminar is to give you a hands-on understanding of the state-of-the-art methods and tools for managing investment portfolios in a post-crisis investment landscape.
First, we discuss the challenges that face investors and investment managers in the aftermath of the global financial crisis. We discuss how these challenges can be taken into account when formulating investment objectives, policies and benchmarks. We also discuss the increasing impact of “behavioral” (non-rational) considerations in investment decision making, and we explain how this may lead markets becoming increasingly non-efficient, in violation of many of the assumptions behind “modern” portfolio theory.
We then explain and demonstrate how an investment policy statement (IPS) for a private or institutional investor can be prepared and how this IPS can be subsequently used as a practical guideline for asset allocation, portfolio construction and performance evaluation.
We present a toolkit for portfolio construction and implementation of investment strategies, and we explain how portfolios should be monitored and rebalanced. We also explain how portfolio performance is measured and appraised and how this feed-back can be used to improve and/or realign the risk-return characteristics of the investment portfolio.
The seminar is designed as a “workshop”, which means that you gain hands-on experience with all aspects of the investment process.
Global Investment Performance Standards™ a GIPS® jsou registrovanými ochrannými známkami CFA Institute