Asset and Funds Management Programme

• Overview of the global fund management industry
• Overview of the investment process
• The Malaysian fund management industry

The Investment Setting

• What is an investment?
• The rational investor
• Measures of return
• Measures of risk
• Relationship between risk and return
• Factors influencing the required rate of return

• Life-cycle investing
• Financing planning process
• Investment Policy Statement (IPS)
• Asset class and funds selection
• Types of investment styles

Asset Allocation

• Asset allocation
• Major asset classes and their historical return profile
• Asset allocation in the investment management process
• Dynamic asset allocation strategies
• Security selection process and investment management strategies
• Portfolio rebalancing

• Risk aversion and utility
• Portfolio risks and returns
• Capital Asset Pricing Model (CAPM)
• Arbitrage Pricing Theory (APT) and Multi-factor Models
• Efficient Market Hypothesis (EMH)

• Role of equity investment in a portfolio
• Risk and return
• Portfolio construction
• Performance benchmark and evaluation
• Relationship to other asset classes

Managing a Fixed Income Portfolio

• Role of fixed income in a portfolio
• Traditional investors and investments in fixed income
• Historical return of the asset class
• Fixed income fundamentals
• Fixed income portfolio management issues
• Performance benchmark and evaluation
• Relationship to other asset classes
• Asset-Backed Securities (ABS)

• What are derivatives?
• Exchange-traded Derivatives
• Over-the-Counter (OTC) Derivatives
• Use of derivatives in portfolio management
• Risk of using derivatives

• Real estate investments
• Collective investment schemes/unit trusts
• Private equity investments
• Non-traditional asset: Infrastructure and development capital
• Special Purpose Acquisition Company (SPAC)
• Hedge Funds
• Gold
• Base Metals
• Commodities
• Art
• Business Trust

Managing International Investments

• Definition and characteristics
• Why invest overseas?
• Risks associated with international investments
• Factors influencing returns
• Investment strategies
• Currency management
• Performance benchmark and evaluation
• Relationship to other asset classes

• Islamic investments: Concepts and contracts
• Islamic capital markets: Products and services
• Malaysian Islamic capital markets
• International Islamic capital markets
• Guidelines pertaining to Islamic capital markets
• Investment asset classes
• Specific risks pertaining to Islamic investments

Portfolio Risk Management

• What is portfolio risk management?
• Value at Risk (VaR)
• Risk budgeting in capital allocation
• Specific risk in portfolios

• Portfolio performance measurement tools
• Performance presentation standards

Investment Psychology

• The psychology of investing
• Psychological traits and errors
• Irrational exuberance and market excesses
• Investment professional approach to behavioural finance