Investment Performance Measurement

Course Description This practical one day training run by a former senior City banker has been designed for anyone who needs to understand the fundamentals of measuring investment performance.  The course explores all aspects of performance measurement including the calculation of returns, impact of different benchmarks and adjusting performance for risk taken. Through the analysis of the best current industry practice you will learn how to set up, maintain and improve performance measurement systems within your organisation.

What Will You Learn By the end of the course you will be able to:  Calculate money and time weighted returns Understand the benchmarks and indices and use them to measure performance Calculate and measure risk Track errors in performance  Apply portfolio attribution Understand and apply Global Investment Performance Standards Present performance results and prepare reports

Main Topics Covered During This Training Calculating money and time weighted returns Dealing with currencies and fees Using benchmarks Risk calculation Portfolio attibution Presenting performance Global Investment Performance Standards (“GIPS”)

Who Should Attend Professionals who need to understand and calculate financial performance from the following types of institutions and departments: Corporates Business Valuation Portfolio Management Investment Management Equity Sales & Research Fund Management Pension Funds Insurance Institutional Investors Banking

Performance Measurement - A One Day Programme

Course Registration 9.00

Course start 9.15

Calculating returns    

• The fundamentals of calculating returns
• Money weighted returns
• Time weighted returns
• Unit pricing
• Dealing with currencies and fees

 

Morning break 10.45

The use of benchmarks    

• Relative and absolute benchmarks and their treatment
• Indices and composite indices, how are they constructed?
• How to chose peer groups, does it make a difference?
• Calculating excess returns

 

Lunch break 12.30-13.30

Calculating risk

• Defining risk
• The various measures of risk
• Absolute risk measures
• Relative risk measures
• Downside risk measures

 

Afternoon break 15.15

Portfolio attribution

• Fama decomposition calculation
• Portfolio attribution calculation  

 

Presenting performance

• Global Investment Performance Standards (“GIPS”)
• Other presentation issues

 

Course finish 17.00

Mike Corless

The course director is a qualified chartered accountant who begun his career in Grant Thornton International and since 1986 worked in  Ernst & Young as a senior manager in the corporate advisory team, working on major acquisitions, disposals, IPOs and insolvency/restructuring transactions.

In 1989 he joined Threadneedle Asset Management as an analyst, becoming a fund manager specialising in income funds in 1991. In 1996 he joined Scottish Widows Investment Partnership as a director in the UK Equity team, again specialising in income funds. On becoming head of UK Equities in 1998, he introduced a new investment process incorporating cash flow based corporate valuation techniques. In 2000 he was appointed head of UK Equities when Scottish Widows was acquired by Lloyds Bank and he led the integration of the UK Equity teams.

In 2001 he joined HSBC Asset Management as European Head of Equity Research, managing a team of analysts in Paris and London tasked with developing a new research team and research process.In 2004 he was appointed Global Head of Equity Research, responsible for 60 global equity research analysts and 40 global credit analysts. He developed a global valuation and research process, training local analysts in Europe, the US and Asia in its use.

In 2006 he joined BG Consulting Group, a professional training company, as the head of investment banking and investment management managing a team of 12 trainers. His experience at BG included managing major graduate programmes for investment banking and investment management clients, training graduate to managing director level participants and advising clients on their training requirements for accountancy, corporate finance and valuation, investment management and private wealth training. 

His clients have included HSBC, Morgan Stanley, Deutsche Bank, Citigroup, Allen & Overy, JP Morgan, Barclays Bank, Barclays Wealth, Morgan Stanley Investment Management and Schroders.

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Upcoming public courses: 

• Repo Market - 18 Jun 2013 London
• Managing Family Office & Wealth - 26-27 Jun 2013 London
• Private Equity as an Asset Class - 11-12 Jun 2013 Dubai

 

In-company Training

• Portfolio Management & Asset Allocation
• Technical Analysis
• Fundamental Analysis
• Understanding Equities
• Understanding Bonds
• Wealth Management
• UCITS Funds
• Hedge Funds Strategies
• Investing in Alternative Assets
• LBO & Merger Modelling
• Investing in Private Equity
• Use of Derivatives in Portfolio
• Structured Products
• Presentation Skills
• Sales Skills
• Client Relationship Management

 

If you have a group of 3 or more people, we can customise any of our 100 financial or soft skills programmes and deliver it in any location worldwide. 

All our trainers have at least 20 years of practical experience from their respective sectors and understand well the day-to-day requirements and challenges your employees are tackling. They have great communication skills and bring al lot of enthusiasm to the classroom. 

E-mail us or call on +44 (0) 207 995 8597 to discuss your requirements and we will be happy to prepare the training programme best suited for your organisation.  

Check our In-Company Training page.