“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 

 

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 Associate Professor of Finance at the Saïd Business School, University of Oxford. In 2014 he was named as one of the 40 best business school professors in the world under 40. In 2016 he was listed among the 20 most influential people in private equity. He has advised the Norwegian sovereign wealth fund and the largest Dutch pension funds. He seats on the investment committee of a $400 million endowment and he is a renowned academic at the forefront of academic research. He is routinely cited in leading financial newspapers (e.g. Financial Times, Wall Street Journal) and has written a report for the Dutch ministry of finance about the Dutch pension funds asset management strategies.

 

 

Accreditation
Dates & fees
19 - 20 November 2018 € 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

88% of the attendees in the November 2017 session would recommend the Cutting-Edge Asset Management program to their colleagues.

________________


“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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