The primary components of portfolio construction for stocks and other equity-related products will be covered in this course. The suitability of the many different equity instruments for investors with different risk appetites and investment horizons is analyzed.
An extensive discussion of the many types of strategic and tactical allocation techniques, returns forecasts, and portfolio optimization approaches is a key component of the course. Additionally, there is a focus on performance attribution and a ton of examples from actual situations showing how risk management and hedging strategies may be used with equities portfolios.
At the end of this course, participants will be able to:
Show that you have a thorough understanding of the asset class of stocks, By comparing the various models that have been used to derive corporate valuations, determine the "fair value" of stocks.
Analytical skills should be used to evaluate the importance of fundamental corporate performance analysis and stock valuation utilizing financial information.
Recognize the fundamental ideas and takeaways from various approaches to asset allocation and portfolio management, including novel ones developed in the wake of the 2007–2008 financial crisis.
Show proficiency with equity-based derivatives and an understanding of how to use them to your advantage as hedging instruments.
who are engaged in both the buy side and sell side of asset management and trading
who wish to expand and refine their knowledge of global equities, the markets/platforms upon which they are traded and techniques for portfolio construction and management.
For fund managers whose mandate entails a significant risk exposure to emerging market equities.
How does equity ownership compare to other financial claims?
Position of equity vis à vis other elements in corporate capital structure
Review of equity capital from an accounting perspective
Characteristics of ordinary, bearer and registered shares
Cumulative, participating, and convertible preference shares
Ranking for dividends and liquidation
Overview of the primary issuance of Equity Securities
Equity Markets and Trade Execution
Order driven/quote driven platforms
Warrants and Covered warrants
Contracts for Difference (CFD’s)
Overview of equity based collective investment vehicles
Listing securities – the regulatory framework, investor disclosures
Structure and stages of an initial public offering (IPO)
Alternative routes for going public - direct listings, SPAC's
Role of intermediaries, book building, pricing
Benefits for the issuer and investors
Role of exchanges in providing secondary market facilities, platforms
Alternative Trading Venues
Multilateral Trading Facilities and dark pools
The meaning of ‘books closed’, ‘ex-div’ and ‘cum div’, cum, special ex, special cum, and ex rights
Explanation of the nature and objectives of High Frequency Trading (HFT)
Principles of Delivery versus Payment (DVP) and Free Delivery
International Central Securities Depositories (ICSD)
Examination of the role of Custodians/Nominees
Purpose, requirements and implications of securities lending SBLI’s
Short selling, collateral management, re-hypothecation etc.
Principal indices/exchanges
Emerging and frontier markets
Classification systems of global equity markets – MSCI, FTSE
Historical survey of performance of main global equity indices
Historical P/E ratios
Regulatory and supervisory environment
Shareholder protections etc.
Structure and size of markets, volumes
Liquidity and transparency
Trading characteristics e.g. prevalence of off exchange activities
Purpose, structure and use of balance sheets, income statements and cash flow statements
Key classes of financial ratios:
Profitability, Liquidity, Asset turnover, Gearing
Key Investor ratios
Earnings Per Share (EPS), P/E Ratios (historic and prospective), Price/Earnings-to-Growth (PEG) ratio
Dividend yield, Dividend/interest cover
Advantages and challenges of performing financial analysis
Comparing companies across and within sectors
Accounting for Corporate Actions
Stock and cash dividends
Rights issues, open offers, offers for subscription and for sale
Calculation of theoretical effect on the issuer’s share price of bonus/scrip, consolidation, rights issues
Fundamental equity valuation – Discounted Cash Flow (DCF) techniques
Models based on calculating the Present Value of future dividend flows
Simple Model
Multi-stage model
Comparing valuations across different sectors
What discount rate should be used in DCF models?
Determining the Weighted Average Cost of Capital (WACC)
What multiples should be used for individual companies, for overall market?
How to value high growth enterprises with no dividends
Sustainability of profits and commercial disruptions
Relationship of corporate valuations to underlying interest rate environment
Return on Equity (ROE) measurements – including risk-adjusted return on capital (RAROC)
Risk Adjusted valuations – incorporating beta into valuation methods
Importance of changes in the regulatory environment on valuation forecasting
Examine arguments for and against ESG in relation to investment performance and effectiveness
Analyze how ESG can create both risks and opportunities for investors
Review case studies and actual examples of decision making regarding ESG
Review of the logic behind smart beta – risk factor asset allocation models
Examination of the performance of various widely used smart beta ETF’s
Crowding and herding issues with smart beta strategies
Are the promises provided by smart beta ETF sponsors warranted?
Explanation of risk premia – excess return or compensation for not holding riskless assets
Risk as a scarce resource and how to allocate exposures according to risk premia and expected returns
Statistical distributions for modelling probability structures
Benchmarks and tracking errors – active versus passive risk
Recognizing importance of drawdowns - holding periods, needs for liquidity
Expected returns from a risk-budgeting perspective
Obligations to market – trading book, Basel III approaches
Calculations and mechanics of standard deviation / tracking error/ M 2 / beta
Value at Risk – methodologies, Expected Shortfall, Extreme Value Theory
Examination of how capital flows into emerging markets are influenced by the intention of central banks especially Federal Reserve to push asset managers into risk assets
Globalization of resourcing and capital flows has invalidated much traditional macro-economic theory regarding economic cycles
Differentiation between EM economies which have trade surpluses/deficits
Examination of negative feedback loops for EM markets when advanced economies reduce their accommodative monetary policy
Examination of ETF’s which provide exposure to emerging market equity and debt
Analysis of correlation between emerging market equities and commodities
Challenges and strategies for hedging and managing risk of emerging market equities because of lack of depth in markets for hedging exotic currencies
Risk Factor Asset allocation strategies – reversing the trend of MPT and focusing on specific factors which “account” for asset class behaviour
Identifying key risk factors as drivers of asset prices
Insights from behavioural finance – risk seeking versus risk aversion
Long term correlations amongst asset classes – mean reversion
Contrarian indicators – sentiment, positioning of traders, hedge funds
This course gives essential and in-depth practical techniques that will enable you to excel in your workplace. In this course, you will learn multi-disciplinary best practices such as how to be a better business writer and a master communicator
Over time important business documents, such as letters, contracts, or project documentation, can reach significant volumes and take up precious and expensive storage space. Moreover manually searching for relevant data can consume an untold amount of employees’ time. this course helps organizations to save on facility costs, reduce working hours, and significantly speed up business processes by converting business documents into digital records that can be electronically archived, efficiently managed, and easily accessed.
You can learn the skills you need to help a company implement, manage, and maintain a disaster recovery plan by taking a Disaster Recovery Manager training course. You will also receive a comprehensive understanding of best practices for disaster recovery during this training course.
You can take the exam and submit an application for a "Certified Disaster Recovery Manager" credential once you have mastered all the principles required for Disaster Recovery procedures. You can prove that you have the professional skills and practical knowledge necessary to implement and manage disaster recovery processes in a business by having a disaster recovery manager certificate.
In this course, participants will be sensitized to the recent trends in public relations and develop their skills to carry out contemporary roles and practice of public relations and to identify the structure of the optimal organization and responsibilities of employees of the public relations departments, planning and follow-up work in public relations departments, develop and motivate the performance of employees, planning and organizing a ceremony of reception and bidding Visitors and VIPs, develop effective communication with customers and employees, how to arrange concerts, seminars, and banquets.
This program is concerned with the development of the skills and abilities of the Public Relations Manager. Therefore, the program offers a set of training and concepts necessary to build constructive relationships inside and outside the institution based on scientific bases in building this relationship and planning it and study the extent of the institution's place in the hearts of employees on the one hand and the surrounding community. The program is concerned with providing the man of communication skills and effective communication with others as one of the elements of building relationships and what are the means to improve the internal structure of the institution and the network of formal and informal relations.
The program also provides the trainee with the skills required to make presentations and to negotiate partnerships with relevant institutions through meetings, presentations and cooperation, and partnership agreements.
All businesses in the current environment need a competitive edge. This can be gained through innovative and exciting products and services, or effective and efficient world-class employees. Top performing organizations are passionate about their most valuable resource - their staff. To maintain their high standards a large proportion of their time and energy is spent on continuous professional development, not only of their employees but of their business. This course investigates the tried and trusted management processes, procedures, and methodology used by many blue-chip companies. They use the tools to develop high levels of performance from their staff. This in turn ensures the future and reputation of their companies through innovative development, service, and evaluation. This course offers participants practical solutions to work-related issues.
Implementing an anti-bribery management system (ABMS) based on ISO 37001 has a number of advantages, including helping the organization avoid or reduce the costs, risks, and damage of being involved in bribery, fostering trust and confidence, encouraging due diligence and morally righteous business practices, etc. You must have the knowledge and abilities necessary to establish, implement, manage, maintain, and continuously enhance an ABMS in order to reap these benefits for your firm. The ISO 37001 Lead Implementer training course is where you should be for that. The training program aims to give participants a thorough understanding of ISO 37001 requirements as well as the best methods and techniques for setting up and maintaining the management system.