Hedge Funds Strategies

Course description

The hedge fund industry had been growing at a staggering pace since the early 1990’s, from just a few hundred funds to somewhere in the excess of 10,000 today. In 2008 the industry faced one of its worse years with poor returns and investor redemption. When did it all begin and how did it all go wrong?

Since 2009 we saw a dramatic return to form with assets under management returning to pre-crisis levels of around $2 trillion. So the future is all rosy now?

Hedge Funds claim to produce high returns with low volatility, low correlation and low probability of losses. Sounds too good to be true? Well many funds are able to achieve this, but how?

This 1 day training explores the characteristics of the hedge fund in the context of recent market events. The course is designed to help you understand the structure as well as the main types of hedge funds and their investment styles and strategies. You will have a chance to explore and assess different aspects of this asset class as well as gain a solid understanding of the evolving role of custodians, brokerage houses and fund administrators.

What will you learn

By the end of this course you will have a sound understanding of the hedge funds sector including different types of investment styles and strategies and the use of hedge funds as an asset class.

  • Define different hedge fund investment styles and strategies
  • Be aware of the latest strategies in the hedge funds industry and how the latest market events affected this sector
  • Examine pros and cons of implementing hedge funds in the investment portfolio
  • Have a clear understanding of the regulatory and legal issues related to hedge funds and finally
  • Be able to define the roles of prime brokers, custodians and fund managers

 

 


Main topics covered during this training

  • Traditional investing
  • When did it all begin and how did we get to where we are?
  • The main players
  • The current environment
  • Prime brokers and what they do
  • Legal structures
  • Investing in Hedge Funds
  • Hedge fund case studies
  • The challenges ahead: regulations and their impact
  • Equity hedge strategies
  • Event Driven strategies
  • Global Macro strategies
  • Convertible arbitrage strategies
  • Industry performance measures

Who should attend

With no pre-requisites this course is for those new to working with Hedge Funds or people requiring further knowledge of the industry.

From Investment Banks, Asset and Fund Managment, Private Banking and Institutional Investors managers and Team Memebers of:

  • Risk Management
  • Fund Management
  • Sales & Distribution Management
  • Investor Solution Teams
  • Audit, Legal & Compliance Teams
  • Pension Fund Managers & Trustees
  • Custodians & Fund Administrators
  • Prime Brokers
  • Family Office Investors
  • Hedge Fund Analysts
  • Structured Products Managers
  • Investment Advisory
  • Investor Relations
  • Investment Risk & Performance
  • Relationship/ Wealth Management

Hedge Funds – a role redefined? A One Day Programme 

The training can be customised and conducted over 2 days explaining in detail different investment styles and strategies.

Hedge Funds – What are they? 

  • Hedge funds defined. Lock-ups, gates, hurdle rates
  • The pursuit of absolute return & performance fees. So what happened in 2008?
  • How big is the hedge fund universe?
  • External relationships – Prime brokerage, custodians, fund administrators
  • Tactics: leverage & short selling. Lesson from 2008: regulatory intervention
Case Study: How do investors choose their hedge fund manager?

The hedge fund industry and its players

  • Traditional investing
  • When did it all begin and how did we get to where we are?
  • The main players
  • The current environment
  • Prime brokers and what they do
  • Legal structures
Why hedge funds? The big issues for investors
  • Rationale for hedge funds in an investors’ portfolio. Is it still there?
  • The non-correlated asset class, survivorship bias, drawdown
  • Lesson from 2008. HNWIs leaving the ship, institutions more cautious
  • Lesson from 2008: Liquidity mismatch
  • Benchmarking problems for hedge fund investors
Case Study: Exclusion criteria in the due diligence process
Hedge fund investment styles – directional
  • Overview of style variations – Directional vs non-directional
  • Equity long/short
  • Distressed debt
  • Managed futures
  • Global macro
Hedge fund investment styles – non-directional
  • Equity market neutral
  • Event driven/risk arbitrage
  • Fixed income/credit arbitrage
  • Convertible bond arbitrage
  • Lessons from 2008: Which strategies worked, which didn’t & why
  • Looking at 2009, which strategies should perform better than others & why
Case Study: Hedge Fund Style Index performance data
Risk management for hedge funds
  • Market, leverage and credit risk
  • Political and legal risk
  • Gap and liquidity risk, mark-to-market risk, style drift risk
  • Why do hedge funds fail? Do not forget operational risk
  • Due diligence. Lesson from 2008: The Madoff affair
  • Tools for the analysis of financial risk – From VaR to stress testing

Convertible strategies and performance measures 

  • Hedge Fund Performance measures
  • Industry performance measures 

 

Trainer

Eureka Financial Faculty

 

FAQ

We offer banking and finance courses as well as soft skills and business management training. You can either attend an open public course in London or Dubai or arrange customised in-house training to be delivered in any of your offices worldwide.

Most of our public courses are run over 2 full days. Some programmes are offered as a 1 or 3 day training.

In-house training is tailored to client’s requirements and can be organised over 1 day, 2-3 weeks or longer.

Public courses are organised mainly in London and Dubai. Occasionally we organise courses in other centres like Paris or New York. Check our public course calendar for the current list of programmes. We use a range of training venues, all in the centre of the cities and with excellent transport links to the airports and train stations.

In London we use venues in the centre (near Oxford Circus station or in Mayfair) or in the City (near Liverpool Street or Moorgate stations).

In Dubai our courses are organised in one of 4-5* hotels in the Deira district. Once you register we will send you detailed information together with accommodation options if required.

Our in-house courses can be delivered anywhere in the world. We work with over 25 trainers worldwide. Contact us do discuss your requirements. Check our list of available programmes.

Our courses are run in central locations from 9 a.m until 5-5.30 p.m. There are 2 coffee breaks and a lunch break. Lunch is always provided in the venue.

Dress code is smart casual.

All our programmes are taught by senior specialists who have spent many years in their respective sectors, working as senior managers and head of departments, so they understand very well the market and the challenges you are facing.

The experience of our trainers allows us to create very practical programmes, focused on current market trends and challenges. You can be sure that you will gain the knowledge which can be instantly applied in your workplace after the course. You will be analysing real life case studies, take part in group exercises and discussions as well as role plays, whenever applicable.

We want our courses to be as practical and interactive as possible so we limit the number of participants in order to optimise your time with the trainer and allow you to ask questions which are important for you.

In order to understand your requirements and expectations, we will send you a pre-course questionnaire.

You will also receive post-course support so if you have any questions after you left the training, you are welcome to contact us.

There are 2 easy ways to register:

  1. Go to the course of your choice and click Register Now button to fill the registration page
  2. Email us to enquiry@eurekafinancial.com

After you register, we will send you registration confirmation and an invoice so you can arrange the payment. Please note that your place is not confirmed until we receive it.

If you register within Early Bird discount period, there’s limited time to arrange the payment in order to be eligible for the discount. You will find all the details on the invoice.

We don’t advise to make any travel and hotel arrangements until you receive full course confirmation from us.

We will send you venue and course details as soon as possible but most likely about 3-4 weeks prior to the course commencement.

You can pay by:

  • Making a bank transfer
  • Debit/credit card
  • Cheque payable to Eureka Financial Ltd. - only within UK

Just mark preferred paying option on the registration form. Whichever form of payment you choose we will always send you an invoice.

If you pay by card, a 2.2% processing fee will be added. We will send you authorisation form so you can give us your card details.

Included in the price of a public course are:

  • Course tutorial
  • Take away course materials
  • Course Certificate
  • Lunch on the days of the training as well as drinks and snacks throughout the course

The price doesn’t include accommodation, flights, transfers and any additional costs outside of the training venue.

Yes, we always offer Early Bird discount, so the sooner you register the more savings you can make. We also offer group discounts and if you register for 2 or more programmes at the same time.

If you are a full time student or unemployed, we offer a 25% discount of the full price of the training. Student ID or unemployment status confirmation is required to claim this discount.

If you attend one of our courses you will be entitled to a special discount for a year after the last course you attend with us. Also, if you have attended and recommended us to a friend, both you and your friend will receive a special discount. You will receive more information about it after you attend the course.

See our Customer Loyalty Discounts page for more details.

All our courses based in the UK are subject to the VAT charge of 20%. This fee is irrespective of the country of residence of the delegates.

You can, however, claim the VAT back by contacting UK tax office - HMRC, and filling the relevant form, as long as you comply with the following rules:

For Delegates coming from the EU countries

If you represent a registered business in another EU country, you can use the Refund Scheme to reclaim VAT you pay in the UK as long as all of the following apply:

  • You're not registered for VAT in the UK and don't have to, or can't be, registered here
  • You don't have a place of business or a residence in the UK
  • You don't make any supplies in the UK

You can find some more information here. In order to claim the VAT you have to fill Form 65.

For the Delegates from Non EU countries

If you represent a registered business in a non-EU country, you can use the Refund Scheme to reclaim VAT you pay in the UK as long as all of the following apply:

  • You're not registered for VAT in the UK and don't have to, or can't be, registered here
  • You don't have a place of business or a residence in the EU
  • You can only use the Refund Scheme if your own country operates a similar scheme and makes it available to UK businesses. If your country has its own Refund Scheme but doesn't let UK businesses use it, you can't claim under the UK Refund Scheme.
  • You don't make any supplies in the UK

If the following rules apply to you, please fill the 65A form and send it to HMRC.

If you are unable to attend the course, you can either send a replacement at no extra charge or, up to 20 working days before the training, you can transfer your booking to another course within the next 6 months for an additional fee of 25% of the full course value. Please note that you can only transfer once.

Alternatively, for cancellations requests received more than 20 working days before the course date we will offer a refund less an administration fee of 10% of the course price.

We regret that no refunds can be given after this period. Non-attendance without any notification will be charged at full rate.

Cancellations must be made in writing and reach our office 20 working days prior to the course date.

Your place on a course is not guaranteed until we receive the payment. All payments must be made in full before the course date.

All our trainers have been working for many years in their respective sectors before they begun to teach so they bring a wealth of practical experience to the classroom.

Most of them used to work for 15 or more years in the financial sector and corporate world, and were holding positions of Directors, VP and Senior Managers. Some of them have published books and have written articles for specialised magazines and newspapers including FT, The Independent, The Times etc. You can find detailed biography of each trainer on the page of the course you want to register for.

Yes, you will receive a Certificate of Attendance at the end of the course you attend.

If you have to apply for a Visa to attend a course in the UK, we will issue a letter to support your application. The letter will be issued only after the payment for the course has been made.

It is delegate’s responsibility to obtain a Visa and failure to do so will not make the participant exempt from the cancellation policy.

Anyone suspected of applying for a training course simply to gain a Visa letter will be reported to their embassy.

We will need the following information to issue an invitation letter:

  • Full name as it appears on your passport
  • Date of birth
  • Passport number
  • Passport issue date
  • Passport expiry date

This topic can be arranged on in-company basis. If you have a group of 4 or more we can customise it and deliver in any location worldwide. Contact us to discuss your requirements

WHAT PAST DELEGATES SAY

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