CFA三级强化班培训项目：投资组合的另类投资管理.docVIP

Alternative Investments for Portfolio Management CFA?????? ???0I_  1-80 Topic in CFA Level III Session Content ETHICS PROFESSIONAL STANDARDS (1)(2) BEHAVIORAL FINANCE Study Session 1-2 Study Session 3 Study Session 4 Study Session 5 Study Session 6 Study Session 7-8 CAPITAL MARKET EXPECTATIONSǐNEWǐ ASSET ALLOCATION AND RELATED DECISIONS IN PORTFOLIO MANAGEMENT DERIVATIVES AND CURRENCY MANAGEMENT ǐNEWǐ FIXED-INCOME PORTFOLIO MANAGEMENT (1)(2) Study Session 9-10 EQUITY PORTFOLIO MANAGEMENT (1)(2) Study Session 11 ALTERNATIVE INVESTMENTS FOR PORTFOLIO MANAGEMENT ǐNEWǐ Study Session 12-13 PRIVATE WEALTH MANAGEMENT (1)(2) ǐNEWǐ Study Session 14 Study Session 15 Study Session 16 PORTFOLIO MANAGEMENT FOR INSTITUTIONAL INVESTORS ǐNEWǐ TRADING, PERFORMANCE EVALUATION, AND MANAGER SELECTION ǐNEWǐ CASES IN PORTFOLIO MANAGEMENT AND RISK MANAGEMENT ǐNEWǐ 2-80 Framework ? SS11: Alternative Investments for Portfolio Management Alternative Investments ? ? R26 Hedge Fund Strategies R27 Asset Allocation to Alternative Investments 3-80 Reading 26 Hedge Fund Strategies 4-80 Overview of Hedge Fund Strategies ? Key features of hedge funds z Lower regulatory and legal constraints (Lack of transparency). z Flexible mandates: Flexibility to use short selling and derivatives. z A larger investment universe. z Aggressive investment exposures. z Comparatively free use of leverage. z Liquidity constraints for investors. z Higher cost structures. ? Types of hedge fund z Single-manager fund 9 One portfolio manager invests in one strategy or style. z Multi-manager fund 9 Multi-strategy fund, in which teams of portfolio managers trade and invest in multiple different strategies within the same fund. 9 FOFs 5-80 Categorization Long/short equity ? O-Chart Equity strategies Dedicated short selling and short-biased Equity market neutral Merger arbitrage Event-driven strategies Distressed securities Fixed-income arbitrage Relative value strategies Opportunistic strategies Hedge Fund Strategies Conv