“I would recommend this program as active managers need to have a better understanding of passive and factor-based approaches."
Portfolio Manager
Thorpe Abbotts Capital
United Kingdom


Cutting-Edge Asset Management
Traditional asset management is dead - Catch the fast train to New Normal
Overview

CE credits

This program is eligible for 12 CE credit hours as granted by CFA Society VBA Netherlands


Cutting-Edge Asset Management
is a unique training program for asset management professionals. It brings in current market conditions and up-to-date knowledge. The program provides the participants with a greater ability to i) see what the future has in store in that industry and ii) have a well-informed conversation on key topical asset management issues (e.g. factor investing, private equity, fintech). 

The program gives you - as a participant - the big picture to help you understand where all the current conversations are coming from – their ins and outs. It is efficiently structured, covering all relevant topics in just two days. 

Minimal knowledge of financial markets is assumed.


How you will benefit 


  • Get up to date with the latest developments and trends within the asset management industry 
  • Understand the pitfalls of current practices
  • Learn how to allocate assets in a systematic, rigorous and cost-efficient way
  • Understand both the theory and empirical evidence behind the business case of robot investing
  • Understand the unique and serious challenges of illiquid assets
  • Learn how to design superior and coherent benchmarks in liquid and illiquid assets
  • Understand the growth of the ETF industry, of passive investing, of smart beta, and of private equity
  • Gain confidence in investing in this low interest environment 

 

 

Is this the most dangerous man in Private Equity? Listen to an interview with Professor Ludovic Phalippou on the pitfalls of the Private Equity industry, and on being the guy that most people try to avoid at private equity conferences.

You can find the podcast here.

 

 

Content

LIQUID ASSETS

How should financial markets function?

  • Market efficiency
  • Active versus passive management
  • Technical analysis
  • Losers game
  • Evaluation of investment opportunities
  • Arbitrage
  • Short selling
  • Diversification
  • Rebalancing premium

Goal based investing

  • Mean-variance optimization
  • Life cycle portfolios
  • Efficient frontier 
  • Risk parity
  • Asset liability matching
  • Tax optimization
  • Goal based investing
  • Fintech
  • Tailored portfolios
  • Risk management
  • Hedging

Benchmarking liquids

  • Performance evaluation
  • Non-linear risk and benchmarks
  • Closet indexers
  • Survivorship bias
  • Incubation
  • Sharpe ratio
  • Conflicts of interest 
  • ETFs
  • Fintech

Financial markets at work 

  • Factor investing
  • Limits to arbitrage
  • Data mining
  • Back testing
  • Value investing
  • Momentum
  • Asset growth
  • Unexpected earnings and profitability factors
  • Minimum-volatility portfolios
  • Smart beta
  • Factor based investing



ILLIQUID ASSETS

Round-the-world trip of asset allocation strategies

  • Private equity
  • Infrastructure
  • Real assets
  • Real estate
  • Timber
  • Yale endowment model
  • Canadian model
  • Private partnerships
  • In-sourced asset management

Illiquid asset returns

  • Leveraged buyouts
  • Benchmarking illiquid assets
  • Internal rate of return
  • Public market equivalent
  • Factor investing with illiquid assets

Illiquid myths

  • Volatility of illiquid assets
  • Evaluating diversification benefits of illiquids
  • Alignment of interests
  • Fee structures
  • Risk measurement for illiquid assets
  • Performance persistence
  • Illiquidity premium
  • Carried interest
  • Catch up
  • Hurdle rates
  • Limited partnership agreements
  • Portfolio company fees

The Yale model is dead?! Are we all Canadians now?!

  • Disintermediation
  • Co-investment
  • Direct investing
  • Human resource decisions as implicit asset allocation choices
  • Secondary market for private equity fund stakes
  • Fire sales
  • Commitment risk

 

Who should attend

Cutting-Edge Asset Management will benefit a broad range of professionals. The program primarily targets asset owners (family offices, endowments, pension funds) and everyone else with an interest in their issues (from journalists and regulators, to asset managers and other financial intermediaries). 

Minimal knowledge of financial markets is assumed. 

 

Faculty
Ludovic Phalippou 

Ludovic Phalippou is Professor of Financial Economics at the University of Oxford Saïd Business School, and works as an advisor to Blackrock Investment Institute, acting as Global Head of Private Market Research. He authored the best-selling book Private Equity Laid Bare in 2017 and was named as one of “The 40 Most Outstanding Business School Profs Under 40 In The World” by the business education website Poets & Quants in 2014.

Accreditation
Dates & fees
17 - 18 April 2019 € 2,500

Program fee includes all study materials, books and software that are required for the program as well as daily luncheons.
Program fee is exempt from VAT for clients located in the Netherlands. For other EU and Non-EU clients, VAT may be due by client and will not be charged by AIF. Fees may be subject to change.
Testimonials

100% of the attendees in the November 2018 session would recommend the Cutting-Edge Asset Management program to their colleagues.

________________


“It is really cutting-edge instead of just promising to be that."
Marloes van Rijsbergen
Policy Advisor
The Netherlands

 

“I would recommend this program as active managers need to have a better understanding of passive and factor-based approaches."
Portfolio Manager
Thorpe Abbotts Capital
United Kingdom

 

“Just a great course to increase your knowledge."
Business Controller
APG Asset Management

The Netherlands

 

“Good to get academic/objective viewpoint. Thought provoking, makes one reconsider own investment process, gives ideas for development."
Head of Portfolio Management
FIM Asset Management

Finland

 

 

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