Re-birth of ‘AIF Insider'
As Managing Director of Amsterdam Institute of Finance, I am proud to introduce the first electronic version of our newsletter ‘AIF Insider.' After having published a paper version of ‘AIF Insider' for the past four years, we believe that this e-version will be a quicker and more efficient tool to bring our alumni and other interested parties up-to-date on the latest developments here at AIF. We plan to use this newsletter to inform you of our latest courses being launched, new professors teaching at AIF, recent happenings in the financial world, and other matters we may find of interest to you. It is our intent to send this newsletter twice per year. At AIF we strive to provide the latest of developments, together with the highest of quality and service, in the transfer of financial knowledge to our clients. Please let us know how we are doing in these respects – we welcome your suggestions. Ideas for future features in this newsletter are also welcome. I hope you enjoy this first edition and we look forward to providing you with many more to come.
Brenda L. Childers
Finance for Lawyers
AIF recently expanded its course portfolio with Finance for Lawyers, offered successfully for the first time in September 2003. This course, designed with feedback from the market, is aimed at lawyers who deal with financial terms and concepts as part of their daily practice. Professors Kevin Kaiser (INSEAD) and Piet Eichholtz (Maastricht University) discuss topics such as corporate finance and valuation, the basics of investments and derivatives, corporate governance and deal structuring, and the due diligence process. Accredited by the Dutch
Bar Association
and the Belgian "Orde van de Vlaamse Balies", the course will be offered again on September 30 – October 6, 2004.
M&A Activity Re-emerging?
In a recent Wall Street Journal article (1-4-04) the possibility of the M&A market re-emerging was visited. First-quarter comparisons of European M&A activity indicate a 30% increase in the monetary value of deals, 2004 vs. 2003. This is however countered by a 9.6% decrease in the total number of deals announced. Important indicators for a resurgence are the number of big deals and the increase in hostile takeovers, both of which suggest an increase in the confidence level of corporates and investors. The industry seems to be taking a ‘this too shall pass' attitude with respect to the downturn, while all the time thinking ‘the sooner the better'. AIF courses dealing with this topic are Mergers & Acquisitions and Strategic M&A Analysis.
“Europeans Embrace Hedge Funds”
Europe typically has a reputation for lagging behind the U.S. in financial innovation and market openness, but this may be changing. According to a recent Wall Street Journal article (15-4-04), European countries are “allowing forms of the potentially high-risk, high-return investments to be offered to investors at far lower thresholds than in the U.S. or the U.K., where they remain firmly in the purview of only the wealthiest individuals or institutions.”
On September 13-14 Professor Pierre Hillion of INSEAD will be leading AIF's new course Hedge Funds. The course will focus on different types of hedge funds, including their performance and risk, and analyze the usefulness of hedge funds as a diversification vehicle. The course is designed for asset managers, (pension) fund managers and advisors, and portfolio managers for private clients. |
