Terms and Conditions: any cancellation of booking less than five working days before the course date attracts full payment of the course fee

·How the industry has grown

·PE and Venture capital terminologies

·Key documentation in PE and venture capitalvPrivate Equity Fund Operations

·How the funds work

·Structure of GP and LP model

·Fees and carried interest

·Investment and divestment cyclevPE and Venture Capital Returns

·Compound vs annual returns

·Vintage year returns

·Time-weighted returns

·Valuation processvAnalysis of Venture Investments

·Money multiples

·Valuation of venture - cost and value

·Percentages within funds

·Home runsvBuy-out and Buy-in Analysis

·Types of buy-out

·Other “buy-out” activities

·Debt earnings and control

·Barriers to entry

·Earnings and earning drivers

·Multiple increase in perfect market

·Recapitalization process and timingvRisk Management in PE and Venture capital

vHedge Funds

·Hedge fund definition

·Fund operations

·Drivers of hedge funds

·Creating and building dedicated hedge fundportfolio

·Risk management in hedge funds

vPortfolio Management Objectives

·Understanding clients investment objectives

·Managing client expectations vs Market realities

·Asset categorization

·Determination of asset classes for individualinvestors

·Portfolio design and construction

·Portfolio diversification methodsvAsset Allocation Techniques

·Strategic asset allocation (SAA)

·Tactical asset allocation (TAA)

·Strategic vs technical asset allocation

·Dynamic asset allocation (DAA)

PAPER 6

MODERN PORTFOLIO MANAGEMENT TECHNIQUES

·Optimal asset allocation mix

·Balancing and re-balancing of portfolio

·Risk vs return trade-offvPortfolio Management Mechanics

·Portfolio management processes

·Expected rate of returns and standard deviationof returns

·Covariance and correlation coefficient

·Calculation of beta of portfolio

·Asset pricing techniques

·Portfolio evaluation techniques

·Sensitivities analysis and portfolio simulations

·Indexes vs actively managed portfolio

·Load vs no-load

·Portfolio risk management.

Case Study: Participants will examine a historical portfolio of common stocks, debt securities and other assets classes and be guided by facilitator to calculate related portfolio statistics such as expected return, Standard deviation of returns, Covariance, Correlation coefficient and Beta assets. This information will be use to construct an efficient portfolio mixs.

N150,500.00 – Members per participantN160,500.00 – Non-members per participantThis fee covers seminar materials, Lunch and Snacks/coffee only.

O ff i c e rs / M a n a g e rs o f B a n ks , A s s e t Management organizations, Portfol io management firms, Wealth managers, Pension/Custody organizations, Investment bankers, I n s u ra n c e o rga n i za t i o n s , S t o c k b ro k i n g f i r m s , Auditing/Accounting firms, Financial consultants, Actuaries, Discount houses, Trust organizations, Cooperative societies, Rating agencies, Finance Departments of non-financial organizations, Insurance Organizations, Trustees Corporations, Federal and State Ministries and Parastatals, CBN, AMCON, SEC, NSC, DMO, NDIC, NEXIM, NNPC, FMB, NSITF, Investment and Security Tribunal, National Insurance Commission, APFN/IAPM members and interested members of the public.

COURSE FEE:

Name:

Company:

Job Description:

Position/Level:

E-mail: Tel:

DETAILS OF PARTICIPANTS:

WHO SHOULD ATTEND

ASSO C IATIO N O F INVESTM ENT ADVISERS & PO RTFO LIO M ANAG ERS

46, Marina (10th Floor) Reinsurance Building, LagosVENUE: IAPM SEMINAR CENTRE, 8:00AM -5:00 PM Daily TIME:

A 3-DAY INTENSIVE AND INTERACTIVE COURSE

The course will analyse the investment

environment, the recent developments in the

financial markets and its implications for market

operators, principles and practices of securities

valuat ion, investment analysis, modern

management of fixed income investment portfolio,

Equity trading and portfolio management

techniques; Alternative Investments - Real estate,

private equity and venture capital. The Portfolio

management session will discuss in details;

Portfolio construction methods, Portfolio analysis

and valuation methods, Asset allocation

techniques, valuat ion and performance

measurement, Risk management techniques and a

lot more.

COURSE PREAMBLE

DATE: 29TH - 31ST OCTOBER, 2019

FACULTY MEMBERS:Mr. Akin Adeniyi: Managing Director/CEO, Kings Thrones LimitedMr. ‘Kunle Jinadu: MD/CEO, First Custodian Pension Funds LtdMr. Kenneth Brai: MD, Zenith Asset Mgt. LtdMr. Adeniyi Akinlusi: MD/CEO, Trustbond Mortgage Bank Plc.Mr. Adedayo Amzat: Group CEO, Zedcrest Capital LimitedMr. Obisan Temidayo: MD/CEO Greenwich Asset Management Limited

on

MODERN PORTFOLIO MANAGEMENT AND INVESTMENT ANALYSIS FOR

PROFESSIONALS

IAPM courses can be tailored to your manpower needs and can be held at a

location of your choice

Terms and Conditions: any cancellation of booking less than five working days before the course date attracts full payment of the course fee

§Prepayment risk§Foreign-exchange risk etc

·Using diversification to hedge risks in fixedincome markets

S

vUnderstanding Equity Market and Terminologies

·Primary and secondary markets

·Market participants and roles

·Role of exchanges

·IPO's Structuring

·OTC market operations

·Fact behind the figuresvMarket Analysis and Stock Selection Techniques

·Industry analysis process

·Company analysis process – Valuation andanalysis of growth in a company

·Financial statement analysis – (Ratio analysis,analysis of growth potentials and limitation offinancial ratios)

·Technical analysis – (Understanding assumptions,challenges to technical analysis, advantages oftechnical analysis over other analysis andtechnical trading rules)

vStock Valuation Methods

·Creating equity valuation models

·Application of valuation models

·Estimating future earnings per share

· Estimating future earnings multiplier

·Calculation of expected rate of returnsvFrom Stock Picking to Portfolio Construction &

Management

·Equity portfolio structuring

·Equity portfolio construction methods

·Constructing long and short equity portfolio

·Equity asset allocation techniques

·Diversification in equity portfolio

·Tracking error and active portfolio management

·Risk management techniques in equity portfolio

vReal Estate Market Overview

·Local markets consideration

·International markets overview

·Asset classes in real estate markets

·Real estate derivatives

PAPER 3

PAPER 4

EQUITY TRADING AND PORTFOLIO MANAGEMENT TECHNIQUE

REAL ESTATE INVESTMENT MECHANICS

vReal Estate Management

·Real estate market indicators

·Property acquisition and managementtechniques –(corporate and residential)

·Property valuation and benchmarks

·Tax and insurance issues in real estatemanagement

vMortgage Business

·Mortgage securitization techniques

·Mortgage-backed securities (MBS)

·Fixed –rate mortgages

·Sessioned vs Unsessioned mortgage

·Mortgage amortization: fixed rate mortgageamortization

·Collateralized mortgage obligation (CMO)vManagement Risks and Rewards in Real Estate

Markets.

·Negative cash flow

·Tenant issues

·Repairs

·Development risk

·Time overrun risk

·Cost overrun risk

·Quality risk

·Exist risk vReal Estate Investment Methods

·Ownership vehicles §Listed real estate companies §Direct investment in real estate §Listed vs direct investment §Limited partnership§Performance drivers for listed real estate §Securitization of real estate §Tax free property vehicles§Underestimating management requirements

vReal Estate Portfolio Management

·Real estate portfolio overview

·Real estate portfolio construction

·Real estate asset selection techniques

·Tactical portfolio management

·Passive portfolio management

·Active portfolio management

·Measuring portfolio performance

·Real estate portfolio management

·Changing portfolio structure in real estateinvestment

vExpository of Private Equity and Venture Capital

PAPER 5

PRIVATE EQUITY AND VENTURE CAPITAL INVESTMENT MECHANICS

To register: Email: info@aiapm.org or akinduro @aiapm.org

Tel: 08098450505, 08035292833, 2890091, 08033350505

vBond Markets

·Bond history

·Overview of bonds markets - Local &International Markets

·Different between stocks and bonds

·Bond market operations and trading techniquesvBonds/Fixed Income Classes

·Sovereign/National bonds

·Sub-national/Municipal bonds

·Supranational bonds

·Asset Backed Securities (ABS)§Mortgage Backed Securities (MBS)§Collateralized Mortgage Obligation (CMO)§Future Flow Securitization (FFS)

·Fixed income mutual funds

·Open ended vs. close end fixed income fundvBond Structures

·Secured vs. unsecured bonds

·Senior vs. subordinated bonds

·Convertible bonds

·Call and put options in bond markets

·Bonds call featuresvBonds Calculation

·Yield vs. Return vs. Interest§Normal yield §Current yield§Real yield§Realized yield§Yield to maturity

·Deriving par coupon and zero coupon curves

·What movies the yield curvevManaging Fixed Income Portfolio

·Fixed income portfolio construction

·Asset allocation techniques in fixed incomeportfolio

·Objectives and constraints

·Fixed income returns over time and portfolioprofits

·Adding leverage to bond portfolios

·Active vs. passive strategiesvSome Bonds Management Styles

·Buy vs. hold strategies

·Bullet vs. barbells strategies

·Butterflies vs. ladders portfolio strategiesvFixed Income Risk Management

·Dissecting fixed income products by risk factors

·Risk associated with acquiring and disposing offixed income securities §Credit risk §Interest rate risk §Liquidity risk§Inflation risk§Reinvestment risk

PAPER 1

PAPER 2

vOverview of the Financial Markets and Market

Participants

·Financial Market Operation & Functions§Issuers §Intermediaries§Investors

·Capital Market –primary and secondary markets

·Market participants and instruments

·Money market:

·The sources of financial market funds §determinants of supply of funds to financial

markets §factors affecting demand for funds §equilibrium interest rate

vInvestment Fundamentals

·Principle of investment: risk vs return paradigm

·Cyclical approach to investment management

·Assets classification. (traditional and alternativeasset classes and their return drivers)

·Determinants of interest rate in financial markets

·Interest rate determinants for individualsecurities

·Factors influencing interest rates §Normal interest rate§Compound interest rate §Simple interest rate

·Time value of money theory §Present value calculation §Future value calculation

·Implications for assets pricing

v Sources of Investment Return Drivers

·Monetary and fiscal policy in economy

·Market indicators

·Reading market indicators for investmentdecisions

vUnderstanding Investment Statistics

·Alpha, Beta, and Alternate Beta

·Correlation and normal distributions

·Risk valuation, measurements and tools

·Investment performance measurement

·Benchmarking investment

·Investment control process

·Why most fund manager under perform index.

U N D E R S TA N D I N G I N V E S T M E N T M A R K E T & OPERATIONS

FIXED INCOME - BONDS PORTFOLIO MANAGEMENT TECHNIQUES

COURSE PREAMBLE

UNDERSTANDING INVESTMENT MARKET & OPERATIONS

The course will analyse the Investment environment, the recent developments in the financial markets and its implications for market operators, principles and practices of securities valuations; investment analysis and modern management of fixed income securities portfolio, Equity portfolio valuation and management techniques; Alternative Investments-Real estate, private equity and venture capital. The Portfolio management session will consider the Portfolio analysis valuation methods, portfolio construction, asset allocation techniques, valuation and performance measurement, risk management techniques and a lot more.

vOverview of the Financial Markets and Market Participants

·Financial Market Operation & Functions- Issuers - Intermediaries- Investors

·Capital Market –primary and secondary markets

·Market participants and instruments

·Money market:

·The sources of financial market funds - Determinants of supply of funds into financial

markets - factors affecting demand for funds - Equilibrium interest rate

v Investment Fundamentals

·Principle of investment: risk vs return paradigm

·Cyclical approach to investment management

·Assets classification. (traditional and alternative asset classes and their return drivers)

·Determinants of interest rate in financial markets

·Interest rate determinants for individual securities

·Factors influencing interest rates - Normal Interest rate- Compound interest rate - Simple interest rate

·Time Value of money - Present value calculation - Future value calculation

·Implications for assets pricing

v Sources of Investment Return Drivers

·Monetary and fiscal policy in economy

·Market indicators

Faculty MembersMr. Akin Adeniyi: Managing Director/CEO, Kings Thrones LimitedMr. Obisan Temidayo: MD/CEO Greenwich Asset Management LimitedMr. Kenneth Brai: MD, Zenith Asset Mgt. LtdMr. Adeniyi Akinlusi: MD/CEO, Trustbond Mortgage Bank Plc.Mr. Adedayo Amzat: Group CEO, Zedcrest Capital Limited

PAPER 1

·Reading market indicators for investment decisions

v Understanding Investment Statistics

·Alpha, Beta, and Alternate Beta

·Correlation and normal distributions

·Risk valuation, measurements and tools

·Investment performance measurement

·Benchmarking Investment

·Investment control process

·Why most fund manager under perform index.

v Bond Markets

·Bond history

·Overview of bonds market

·International bond markets overview

·Different between stocks and bonds

·Bond market operations and trading techniquesv Bonds/Fixed Income classes

·Sovereign/National bonds

·Sub-national/Municipal bonds

·Supranational bonds

·Asset Backed Securities (ABS)- Mortgage – Backed Securities (MBS)- Collateralized Mortgage Obligation (CMO)- Future flow securitization (FFS)

·Fixed income mutual funds

·Open – ended vs. close – end – fixed Income fundv Bonds Structures

·Secured vs. unsecured bonds

·Senior vs. subordinated bonds

·Convertible bonds

·Call and put options in bonds market

·Bonds call featuresv Bonds Calculation

·Yield vs. Return vs. Interest

·Normal yield

·Current yield

·Real yield

·Realized yield

·Yield to maturity

·Deriving par coupon and zero coupon curves

·What movies the yield curvev Managing Fixed Income Portfolio

·Fixed income portfolio construction

·Asset allocation techniques in fixed income portfolio

·Objectives and constraints

·Fixed income returns over time and portfolio profits

·Adding leverage to bond portfolios

·Active vs. passive strategiesv Some Management Styles

·Buy vs. hold strategies

·Bullet vs. barbells strategies

PAPER 2

FIXED INCOME AND BONDS PORTFOLIO MANAGEMENT TECHNIQUES

·Butterflies vs. ladders portfolio strategiesv Fixed Income Risk Management

·Dissecting fixed income products by risk factors

·Risk associated with acquiring and disposing offixed income securities §Credit risk §Interest rate risk §Liquidity risk§Inflation risk§Reinvestment risk§Prepayment risk§Foreign-exchange risk etc

·Using diversification to hedge risks in fixed incomemarkets

v Understanding of Equity Market and Terminologies

·Primary and secondary markets

·Market participants and roles

·Role of exchanges

·IPO's Structuring

·OTC markets

·Fact behind in the figuresv Market Analysis and Stock Selection Techniques

·Industry analysis process

·Company analysis process – Valuation and analysis of growth in a company

·Financial statement analysis – (Ratio analysis, analysis of growth potentials and limitation of financial ratios)

·Technical analysis – (Understanding assumptions, challenges to technical analysis, advantages of technical analysis over other analysis and technical trading rules)

v Stock Valuation Methods

·Creating equity valuation models

·Application of valuation models

·Estimating future earnings per share

· Estimating future earnings multiplier

·Calculation of expected rate of returnsv From Stock Picking to Portfolio Management

·Equity portfolio structuring

·Equity portfolio construction methods

·Constructing long and short equity portfolio

·Equity asset allocation techniques

·Diversification in equity portfolio

·Tracking error and active portfolio management

·Risk management techniques in equity portfolio

v Real Estate Market Overview

·Local market

·International markets

·Asset classes in real estate market

PAPER 3

PAPER 4

EQUITY PORTFOLIO MANAGEMENT MECHANICS

REAL ESTATE INVESTMENT MECHANICS

·Real estate derivativesv Real Estate Management

·Real estate market indicators

·Property acquisition and management techniques –(corporate and residential)

·Property valuation and benchmarks

·Tax and insurance issues in real estate management

v Mortgages Business

·Mortgage Securitization techniques

·Mortgage –Backed Securities (MBS)

·Fixed –rate mortgages

·Sessioned vs Unsessioned mortgage

·Mortgage amortization: fixed rate mortgage amortization

·Collateralized mortgage obligation (CMO)v Management Risk and Rewards in Real Estate Markets.

·Negative cash flow

·Tenant issues

·Repairs

·Development risk

·Time overrun risk

·Cost overrun risk

·Quality risk

·Exit strategy risk v Real Estate Investment Methods

·Ownership vehicles §Listed real estate companies §Direct investment in real estate §Listed vs direct investment §Limited partnership§Performance drivers for listed real estate §Securitisation of real estate §Tax free property vehicles§Underestimating management

requirements v Real Estate Portfolio Management

·Real estate portfolio overview

·Real estate portfolio construction

·Real estate asset selection techniques

·Tactical portfolio management

·Passive portfolio management

·Active portfolio management

·Measuring portfolio performance

·Real estate portfolio construction andmanagement

·Changing portfolio structure in real estateinvestment

v Expository of Private Equity and Venture Capital

·How the industry has grown

·PE and Venture capital terminologies

·Key documentation in PE and Venture capital

PAPER 5

PRIVATE EQUITY AND VENTURE CAPITAL INVESTMENTMECHANICS