Mutual Funds

This course provides an understanding of mutual funds, including the uses of open-end and closed-end funds, the advantages and disadvantages of funds as compared to individual securities, and how best to select funds that fit an investor's needs.

01-Oct-2012 -- 02-Oct-2012New YorkUSD$2475
NY Institute of Finance - Midtown9:00am - 4:30pm Instructional Method:
Group-Live
Instructor(s): [ Laura Smith Dunaief; ] Mon Tue Level: Basic

CPE CREDITS
14.0
Entry-level analysts, institutional salespersons and traders, aspiring portfolio managers, and individual investors.
No advance preparation required.
Students will be able to:
  • Discuss the historical development of mutual funds and the impact of funds on the global financial world
  • Explain the similarities and differences between closed-end funds, exchange traded funds, and open-end funds
  • Distinguish between equity, fixed income, balanced, hybrid, and index funds
  • Describe how fund managers construct a portfolio to match stated investment objectives
  • Identify key elements of a fund prospectus
  • Categorize funds by investment objective
  • Identify and describe roles of the key participants in the funds market
  • Understand risk tolerance
  • Use funds to fulfill requirements of an asset allocation strategy
  • Explain the guidelines and safeguards afforded investors in mutual funds
  • Describe key regulations around fund sales, including those for selling different classes of fund shares
  • Explain the impact of regulatory changes on the fund marketplace
Fundamentals of the Securities Industry or equivalent knowledge
"Excellent discussions and real-life examples. Exercises were very informative and useful."
"Very good instructor!"
"The course covers all experience levels."
  • Portfolio Management Program
    • MUTUAL FUNDS
    Overview of Mutual Funds
    • Size and growth of the Mutual Fund industry
    • Mutual Fund investors
    • Mutual Fund structures
    • Basic Fund Features: Loads; 12b-1 fees; Breakpoints
    • Benefits and drawbacks of Mutual Funds

    How a Mutual Fund Operates

    • Roles within a fund
    • Fund fee structures
    • Fund pricing/Net asset value calculations

    Open-end Fund Products and Objectives

    • Equity funds
    • Fixed Income funds
    • Hybrid funds
    • Index funds
    • Other fund structures and structural variations: private equity funds; hedge funds; exchange-traded funds; closed-end funds

    Mutual Funds as Investments

    • Understanding fund objectives
    • Beta as a measure of risk

    DAY TWO
    Open-End Fund Products and Objectives
    • Equity Funds
    • Fixed Income Funds
    • Hybrid Funds
    • Index Funds

    Mutual Funds as Investments

    • Asset Allocation
    • Understanding fund objectives
    • Using Beta as a measure of risk
    • Risk tolerance: matching client risk tolerance with fund objectives
    • Matching fund and client objectives
    • Hedging strategies
    • Researching funds: Dissecting the prospectus; Third-party rankings

    Regulatory Issues

    • Prospectus requirements
    • Sales practices and disclosures
    • Registration of Portfolio Managers
    • Current regulatory environment

    Industry Trends

    • Pension funds
    • Developments in fund types
    • Distribution channels

    Clients who register for this course will receive a complimentary 4-month subscription to FT.com. The Financial Times is the world's most respected financial newspaper, providing a broad assessment on finance, business and the industrial sector. The move to the electronic version follows an ongoing review of our environmental responsibilities as a global business and as part of the Pearson group. FT.com also has features that are not available in hard copy, such as: Special Reports, Alphaville, editor blogs, education sections and much more! Subscriptions will start within 6-8 weeks of the start of class and are limited to one subscription per client. (Please note: as of May 1, 2011, the electronic subscription replaces the hard-copy 3-month Financial Times subscription.)

    Lunch is included for all students taking day classes.