Wealth Management Workshops

Transcription

1 GFM Training co-hosts the Wealth Management Workshop Series with the Hong Kong Society of Financial Analysts for practitioners wishing to deepen their investment expertise and upgrade their product knowledge on the main topics seen in the world of private banking and wealth management. Length: The workshop series is made up of six modules delivered over 3 days. Each module is half a day long (4 hours). Delegates can register for the entire workshop or select individual modules to attend. Due to logistics reasons, priority will be given to delegates wishing to register for the entire 3-day workshop. Prerequisites: None. Some familiarity with private banking, wealth management and financial markets is useful, but is not required. Intended attendees: o Relationship Managers: Private Banking Relationship Managers, Wealth Managers and Financial Planners covering High Networth Individuals (HNI), Ultra High Networth Individuals (UHNI) and families. o Product Advisors: Private Banking Investment Advisors, Wealth Analysts and Product Marketers seeking to deepen their product expertise and broaden their investment skills. o Fiduciaries: Trust professionals and other fiduciaries involved in investment oversight, mandate supervision or asset allocation. o Service Providers: Tax, Legal and accounting professionals serving HNI and UHNI clients o Private Investors: High networth and mass affluent investors interested in developing their knowledge of the main wealth management offerings Format: Course modules are based on common building blocks. Each workshop: o Introduces a real life case or problem faced by private bankers / wealth managers serving a client requirements o o Walks through a series of steps used in solving these case problems Discusses variations, alternatives, and pitfalls faced in similar real scenarios The p rese Remarks: Classrooms are not equipped with computers, participants WILL HAVE to bring their own laptops with Microsoft Excel 2007 (or later) installed. Course material will be distributed through USB memory sticks to load into the laptops. Date: 17 th, 18 th, 19 th March, 2015 (Tuesday, Wednesday, Thursday) Venue: HKSFA Office Room 1802, 18 th Floor, 1 Duddell Street, Central, Hong Kong Time: Morning session: 9am - 1pm Afternoon session: 2pm - 6pm Language: English *Fee: Whole Workshop Series (6 modules) HKSFA CFA Candidate Fees for participants wishing to attend specific modules: HKSFA CFA Candidate (per module) Special Discount: 15% off for those who register for two (or more) half-day modules. (* The fee includes case studies, exercises, spreadsheets and other tools used in the workshop(s).) 4 CPT / CPD / CE hours per half day module Consider applying for HKSFA membership to enjoy member rates and enjoy other benefits. Visit our website at to know more about our Membership.

2 * Advanced - Highly focused technical presenta Wealth Management Workshops Modules Module 1 : Fixed Income Primer (Tuesday, 17 th March, 9:00 am - 1:00 pm) This module introduces the fixed income asset class by walking through a sequence of common real-world questions and decisions faced by bond investors. How to read a quote and termsheet of a bond, and how to calculate accrued interest How to choose between two bonds of the same issuer with different tenors and yields How to evaluate risk / reward between two bonds of different issuers and yields with the same tenor What it means to roll down the yield curve, and how this produces higher returns When to look at bonds with call features or in different currencies What are the common fixed income instruments seen in wealth management platforms (*Rating: General) Module 2 : Asset Allocation and Portfolio Construction Primer (Tuesday, 17 th March, 2:00 pm - 6:00 pm) Asset allocation answers the fundamental question of how and why to divide investment capital between stocks, bonds and other investment assets. This module introduces attendees through the asset allocation and portfolio construction process by answering some of the following questions: Reasons for allocating to cash vs. bonds vs. stocks vs. a combination of the three How to decide on an optimal balance between stocks, bonds and cash depending on the investor s risk profile and cash requirements How to allocate between sub-classes within stocks and bonds o Stocks: Country, Size, Sector, Growth/Value, etc. o Bonds: Currency, Credit Quality, Tenor and Form Introduction to other asset classes: FX, Real Estate, Commodities, Hedge Funds, etc. How to account for allocations to alternative asset classes: real estate, private equity, long/short equity funds, other hedge funds, commodities, etc. (*Rating: General)

3 Module 3 : Primer on Evaluating Popular Structured Products (Wednesday, 18 th March, 9:00 am - 1:00 pm) Structured products received a bad name during the financial crisis, but in several markets continue to provide investors with payoffs in a customized, simple form not available from funds. The structured products universe is far too large and varied to cover in a half-day session, but the following examples introduce attendees to some of the most popular structures, termsheets, and motivations in this space: The Premium / dual-currency deposit Equity linked Reverse Convertible Equity linked Accumulator Credit-Linked Note Callable Libor Range Accrual Note (*Rating: Intermediate) Module 4 : Single Premium Insurance Products Primer (Wednesday, 18 th March, 2:00 pm - 6:00 pm) Single premium insurance products are increasingly popular alternatives to fixed income securities for many wealth management clients, especially in Asia, in part because of attractive financing terms. How to understand and value the insurance / longevity component of a single-term policy How to compare a single-term policy to a fixed income portfolio How to model the financing of the policy on a simple spreadsheet (*Rating: Intermediate)

4 Module 5 : Primer on Evaluating Mutual Funds and Alternative Funds (Thursday, 19 th March, 9:00 am - 1:00 pm) Many investors hold a substantial share of their stock, bond and alternative assets through professionally managed funds rather than directly. This module introduces basic calculations and processes for comparing across many funds on an apples to apples basis and evaluating if the manager is enhancing or destroying returns to the investor through active management and fees: How to select a benchmark How to measure fund performance: Alpha, Beta, Epsilon, Sharpe Ratio and other measures How to identify closet indexing vs. true alpha Common strategies for generating alpha How to interpret and use widely known benchmarks such as the Morningstar style box (*Rating: Intermediate) Module 6 : Primer on Currency Risk Management in Investment Products (Thursday, 19 th March, 2:00 pm - 6:00 pm) Even investors based in single currency are likely to face opportunities or risks originating from currency exposure inside investment products, or due to products explicitly designed for the FX asset class. This module covers two equity examples and two fixed income examples to introduce some common questions for isolating and hedging this FX risk: How to hedge a dim sum bond into US dollars and vice versa How to measure FX sensitivity of USD vs. local currency sovereign bonds How to measure the FX risk component of a foreign stock, GDR or ETF How to hedge / separate currency exposure from FX exposure (*Rating: General) * Ratings 1. General - Material presented will be basic and of interest to a general audience having no background in the area. 2. Intermediate - Material presented will have technical elements requiring a working knowledge of the subject to make full use of the presentation. 3. Advanced - Highly focused technical presentations of interest to participants with a high level of technical knowledge in the subject area. 4. Unrated - HKSFA has yet to receive sufficient information to grade the content of this event. HKSFA is recognized by The Securities and Futures Commission (SFC) as an institution for providing Continuous Professional Training (CPT) Program. Each half-day workshop is qualified for 4 CPT hours. As the recognized institution approved under SFC s CPT Program, the 4 CPT hours of each half-day workshop are to receive due recognition from the Mandatory Provident Fund Scheme Authority (MPFA) as non-core CPD hours. Each half-day workshop is also qualified for 4 Continuing Professional Development (CPD) Hours for Registered Business Valuers (RBV) of Business Valuation Forum (BVF). As a participant in the CFA Institute Approved-Provider of Continuing Education Program, the Hong Kong Society has determined that the above event qualifies for credit for the CFA Institute Continuing Education Program. All three-day workshops are eligible for 24 CE credit hours, or 4 CE credit hours per module.

5 About the Speaker Mr. Anand Batepati Mr. Anand Batepati is a partner at Global Financial Markets Training, and has over 18 years of experience in financial markets. Previously he was Head of Multi Asset Structuring for Asia at Rabobank. He has held prior roles at HSBC, Bear Stearns, JP Morgan and the World Bank. He holds two masters degrees in finance from London Business School and Asian Institute of Management / McGill University. Anand has served institutional clients such as insurance companies, pension funds, asset managers, wealth managers and securities companies with ALM solutions, structured investments and smart beta strategies. He has experience in multiple asset classes, helped set up a Fund of Hedge Funds practice and worked as a private equity investor in the past. He has worked in New York, London and Hong Kong in his career. Mr. Tariq Dennison Mr. Tariq Dennison is partner at Global Financial Markets Training, and has previously worked at Societe Generale, CIBC, JP Morgan, Bear Stearns, Commerzbank, and Andersen Consulting (now Accenture). He earned his Masters in Financial Engineering from the University of California at Berkeley s Haas School of Business and his Bachelor of Science in Mathematics from Marquette University. Tariq is often praised for his ability to explain complex financial concepts in clear and simple terms to both financial experts and lay people, and for his pioneering work in new financial products. He traded the first Thai Baht denominated credit-linked note at Societe Generale, CIBC s only Canadian Dollar structured note in Asia in 2010, and numerous firsts for Bear Stearns, including their first structured FX and Commodity structured notes, their first access product to India, and their first suite of US and Latin American algorithmic strategy indices.

6 Details of workshops: Module Date & Time Workshops 1 Tue, 17 th March :00am - 1:00pm 2 Tue, 17 th March :00pm - 6:00pm 3 Wed, 18 th March :00am - 1:00pm 4 Wed, 18 th March :00pm - 6:00pm 5 Thu, 19 th March :00am - 1:00pm 6 Thu, 19 th March :00pm - 6:00pm Fixed Income Primer Asset Allocation and Portfolio Construction Primer Primer on Evaluating Popular Structured Products Single Premium Insurance Products Primer Primer on Evaluating Mutual Funds and Alternative Funds Primer on Currency Risk Management in Investment Products Registration: 1. Interested parties are requested to register online at 2. Registration is only confirmed upon receipt of payment. 3. For cheque payment, cheques should be crossed and made payable to HKSFA and posted to Room 1802, 18 th Floor, 1 Duddell Street, Central, Hong Kong. 4. A place will be reserved for registrant upon successful online registration with notification of registration details. 5. After completing the online registration and payment process, registrants will receive notifications with registration details. A reminder will also be sent before the event begins. If you have not received the notification and reminder from HKSFA, it is the delegate s responsibility to contact HKSFA to confirm their place. Policy for Substitutions, Cancellations and No Show: 1. Registrations should be paid in full before the commencement of the event. Immediate payment is required upon confirmation. Should the registration fee remains outstanding, HKSFA reserves the right to disallow entrance to the event. 2. Full amount will still be charged for no show or enrolment made after Tuesday, 10 th March 2015, this would include those whose payment mode is by cheque but have not sent in the cheque to complete the payment process. 3. An administration fee HK$50 will be charged for any cancellation of confirmed enrollment made on or before Tuesday, 10 th March All cancellation requests must be made in writing and be confirmed by from HKSFA. 4. Refund of the event fee (less an administration fee of HK$50 per person) will be given for cancellation received on/before Tuesday, 10 th March For payment made by credit card, refund will be handled through the bank, please allow 4 to 6 weeks for processing. The amount will be refunded to the paid credit card account. - For registrants whose payment mode is by cheque, even if the cheque has not been sent to HKSFA in full amount, the HK$50 administration fee is also applicable and must be settled by registrants. - For payment made by cash, HKSFA will arrange the refund cheque sending to registrants by mail, the amount will be the event fee less the administration fee HK$ No refund will be given for cancellation received after Tuesday, 10 th March For registrant whose payment mode is by cheque but have not sent in the cheque to complete the payment process, will still have to settle the event fee in full amount. 6. Substitutions are allowed. Please notify us prior to the event. Non-member rate applies if the substitute is not an HKSFA member. 7. The Society reserves the right to change the venue, date or speaker of the event due to unforeseen circumstances. 8. To be awarded CPT/CPD/CE credit hours, full attendance of all parts of the event is required. No pro-rata credit hours will be awarded.