CAIA Luxembourg Educational Event Cercle Munster May 21st, 2015.

Slides:

Advertisements

Similar presentations

THE COST OF CAPITAL FOR FOREIGN INVESTMENTS

Advertisements

Personal Finance Garman/Forgue Ninth Edition

Asset Management Lecture Four. Outline for today What assets to invest in a bear market? What assets to invest in a bear market? The BEARX Case The BEARX.

Copyright © 2003 South-Western/Thomson Learning. All rights reserved. Chapter 21 Commodity and Financial Futures.

© 2012 Cengage Learning. All Rights Reserved. May not scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Chapter.

Chapter 2. Financial Intermediaries & Financial Innovation

Unconventional Wisdom Kristin Weil Melissa Sinclair Chuck Nadeau Kyle Nelepovitz Cori Shellabarger.

Chapter 11 In-Class Notes. Types of Investments Mutual funds Exchange traded funds Stocks Primary versus secondary market Types of investors: institutional,

INVESTMENTS | BODIE, KANE, MARCUS ©2011 The McGraw-Hill Companies Financial Economics Summer 2011.

1 Chapter 15 – Mutual Funds Pool money from investors with similar objectives and purchase a diversified portfolio run by a professional manager –Shares.

Vicentiu Covrig 1 Portfolio management. Vicentiu Covrig 2 “ Never tell people how to do things. Tell them what to do and they will surprise you with their.

Exhibit 15.1 Portfolio Risk Reduction Through Diversification

Lecture 12 International Portfolio Theory and Diversification.

FIN638 Vicentiu Covrig 1 Portfolio management. FIN638 Vicentiu Covrig 2 How Finance is organized Corporate finance Investments International Finance Financial.

Copyright ©2004 Pearson Education, Inc. All rights reserved. Chapter 18 Asset Allocation.

Michal Bodlák. Definition  An investment bank is a financial institution that assists: individuals, corporations and governments companies involved in.

Exploring Complementary Investment Opportunities: Real Estate Investment Trusts 1.

Stock Market Analysis and Personal Finance Mr. Bernstein Hedge Funds May 15, 2013.

The Momentum Group Alternative Investment Specialists.

Hedge Funds 101 Texas Investment Portfolio Symposium March 24, 2007 Bernay Box Bonanza Capital, Ltd.

19-1 Financial Markets and Investment Strategies Chapter 19.

Asset Management – Current Trends and Challenges Mladen Latković Risk Manager Raiffeisen Mandatory Pension Fund Mgmt Co. Croatian Quants Day Department.

McGraw-Hill/Irwin © 2007 The McGraw-Hill Companies, Inc., All Rights Reserved. Futures Markets CHAPTER 16.

2. Oktober 2008 Educational Centre of TU in Herľany, Slovak Republic 1 Prerequisite of the standard norm distribution of Markowitz at hedge fund not realistic.

Dr. Susan D. Jordan Finance 650 Investments Spring 1999.

Chapter 12: Introduction to Investment Planning Chapter 12 Introduction to Investment Planning.

McGraw-Hill/Irwin Copyright © 2005 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 7 Capital Allocation Between The Risky And The Risk-Free.

Risk Management Exercises. Exercise Value at Risk calculations.

Asset Allocation Portfolio Management.

© 2012 Cengage Learning. All Rights Reserved. May not scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Chapter.

THE ALTERNATIVE UNIVERSE. DISCLAIMER: Futures and options trading involves substantial risk of loss and is not suitable for every investor. The valuation.

Enrollment Form Basics. 2 Enrollment Form – Page 1.

Intensive Actuarial Training for Bulgaria January 2007 Lecture 16 – Portfolio Optimization and Risk Management By Michael Sze, PhD, FSA, CFA.

1 Managing Geopolitical Risk In Investment Decision Making Campbell R. Harvey Duke University and National Bureau of Economic Research Sixth Global Fixed.

1 FIN 406 Outline Investor vs Speculator Participants in the Investment Process Steps in Investing Types of Investors and Investments.

JESMOND MIZZI. Building the right portfolio to meet your investment objectives.

Investing Globally Bill Reese International Finance 1.

Introduction to risk and return

Copyright 2008 The McGraw-Hill Companies 14W-1 Financial Investment Applications Risk The Security Market Line Last Word Key Terms End Show 14 Financial.

Chapter 1 Investments - Background and Issues McGraw-Hill/Irwin © 2004 The McGraw-Hill Companies, Inc., All Rights Reserved. Investments & Financial.

DERIVATIVES. Introduction Cash market strategies are limited Long (asset is expected to appreciate) Short (asset is expected to depreciate) Alternative.

Chapter 18 Asset Allocation. Copyright ©2014 Pearson Education, Inc. All rights reserved.18-2 Chapter Objectives Explain how diversification among assets.

PIA Dimensions 40/60 Portfolio ℠ Moderate Portfolio The PIA Dimensions 40/60 Portfolio℠ was constructed for investors with a moderate tolerance for risk.

CHAPTER 9 Investment Management: Concepts and Strategies Chapter 9: Investment Concepts 1.

Andrew Baum and David Hartzell, Global Property Investment, 2011 Real estate as an asset class Andrew Baum and David Hartzell, Global Property Investment,

8-1 Chapter 8 Charles P. Jones, Investments: Analysis and Management, Tenth Edition, John Wiley & Sons Prepared by G.D. Koppenhaver, Iowa State University.

For Internal Use Only / Not for Distribution to the Public Not FDIC Insured | May Lose Value | No Bank Guarantee.

Holborn Investment Portfolios Diversified. Dynamic. Robust.

FIN437 Vicentiu Covrig 1 Portfolio management Optimum asset allocation Optimum asset allocation (see chapter 8 RN)

Copyright © 2017, 2014, 2011 Pearson Education, Inc. All Rights Reserved Personal Finance SIXTH EDITION Chapter 18 Asset Allocation.

Prudent Investor Advisors, LLC I SEC Registered Investment Advisor

The Big Mystery – What do these people do all day?

ASSET MANAGEMENT How do you call a professional investment consultant?

Essential Personal Finance

Portfolio Selection (chapter 8)

HEDGING :Short hedge , Long hedge and Perfect hedging

Portfolio Selection 8/28/2018 Dr.P.S DoMS, SAPM V unit.

Review Fundamental analysis is about determining the value of an asset. The value of an asset is a function of its future dividends or cash flows. Dividends,

Investments - Background and Issues

Managing Geopolitical Risk In Investment Decision Making

22 Investors and the Investment Process Bodie, Kane, and Marcus

Corporate Finance Ross  Westerfield  Jaffe

الأساسيات والاتجاهات الحديثة

22 Investors and the Investment Process Bodie, Kane, and Marcus

2. Building efficient portfolios

Risk Aversion and Capital Allocation to Risky Assets

Resource Credit Income Fund

Introduction to Risk & Return

Presentation transcript:

CAIA Luxembourg Educational Event Cercle Munster May 21st, 2015

How to get Real Diversification with Alternative Strategies ? Moderator: Daniel Capocci, PhD-CAIA, Senior Investment Manager - Architas Multi- Manager Speakers: Giuseppe Distefano, Founder and CIO - Alessia Julien Bernier, CIO - Chahine Capital Amine Bennis, PM of Digital World Active Allocation - Chahine Capital Maurizio Novelli, Portfolio Manager, Lemanik SA

How to get Real Diversification with Alternative Strategies ? Who’s on stage Alternative Strategies in UCITS Diversification Markets Question

How to get Real Diversification with Alternative Strategies ? 1. Short positions by mean of Financial Derivatives 2.Higher leverage (it doesn’t mean higher risk) with VaR risk approach 3.Relative value trades 4.Asset allocation is a risk allocation process UCITS alternative Strategies are different from long only asset allocation strategies

PASSIVE DIVERSIFICATION DOES NOT PROTECT AGAINST LOSS With a passive allocation, a 'diversified portfolio' is performing much like an all stock portfolio.

Modern asset management should be responsive … Lead to a variable correlation with Equities Flexibility is key of the diversification in today’s rapidly transforming global economy. Example of the Daily Asset Class Allocation of the DWAA Fund in 2013…

How to get Real Diversification with Alternative Strategies ? Moderator: Daniel Capocci, PhD-CAIA, Senior Investment Manager - Architas Multi- Manager Speakers: Giuseppe Distefano, Founder and CIO - Alessia Julien Bernier, CIO - Chahine Capital Amine Bennis, PM of Digital World Active Allocation - Chahine Capital Maurizio Novelli, Portfolio Manager, Lemanik SA

Thank you for your attention! The CAIA Luxembourg Chapter