Los 1(a): Compare factor-based strategies to market-capitalization-weighted indexing<\/a><\/p>\n Los 1(b): Compare different approaches to index-based equity strategies<\/a><\/p>\n Los 1(c): Compare different approaches to index-based equity investing<\/a><\/p>\n Los 1(d): Compare the full replication, stratified sampling, and optimization approaches for the construction of index-based equity portfolios<\/a><\/p>\n Los 1(e): Discuss potential causes of tracking error and methods to control tracking error for index-based equity portfolios<\/a><\/p>\n Los 1(f): Explain sources of return and risk to an index-based equity portfolio<\/a><\/p>\n Los 2(a): Compare fundamental and quantitative approaches to active management<\/a><\/p>\n Los 2(b): Analyze bottom-up active strategies, including their rationale and associated processes<\/a><\/p>\n Los 2(c): Analyze top-down active strategies, including their rationale and associated processes<\/a><\/p>\n Los 2(d): Analyze factor-based active strategies, including their rationale and associated processes<\/a><\/p>\n Los 2(e): Analyze factor-based active strategies, including their rationale and associated processes<\/a><\/p>\n Los 2(f): Analyze factor-based active strategies, including their rationale and associated processes<\/a><\/p>\n Los 2(g): Analyze activist strategies, including their rationale and associated processes<\/a><\/p>\n Los 2(h): Describe active strategies based on statistical arbitrage and market microstructure<\/a><\/p>\n Los 2(i): Describe how fundamental active investment strategies are created<\/a><\/p>\n Los 2(j): Describe how quantitative active investment strategies are created<\/a><\/p>\n Los 2(k): Discuss equity investment style classifications<\/a><\/p>\n Los 3(a): Describe elements of a manager\u2019s investment philosophy that influence the portfolio construction process<\/a><\/p>\n Los 3(b): Discuss approaches for constructing actively managed equity portfolios<\/a><\/p>\n Los 3(c): Distinguish between Active Share and active risk and discuss how each measure relates to a manager\u2019s investment strategy<\/a><\/p>\n Los 3(d): Discuss the application of risk budgeting concepts in portfolio construction. <\/a><\/p>\n Los 3(e): Discuss the application of risk budgeting concepts in portfolio construction<\/a><\/p>\n Los 3(f): Discuss risk measures that are incorporated in equity portfolio construction and describe how limits set on these measures affect portfolio construction<\/a><\/p>\n Los 3(g): Discuss the application of risk budgeting concepts in portfolio construction. Discuss risk measures that are incorporated in equity portfolio construction and describe how limits set on these measures affect portfolio construction<\/a><\/p>\n Los 3(h): Discuss the application of risk budgeting concepts in portfolio construction. Discuss risk measures that are incorporated in equity portfolio construction and describe how limits set on these measures affect portfolio construction<\/a><\/p>\n Los 3(i): Discuss how assets under management, position size, market liquidity, and portfolio turnover affect equity portfolio construction decisions<\/a><\/p>\n Los 3(j): Evaluate the efficiency of a portfolio structure given its investment mandate<\/a><\/p>\n Los 3(k): Discuss the long-only, long extension, long\/short, and equitized market-neutral approaches to equity portfolio construction, including their risks, costs, and effects on potential alphas<\/a><\/p>\n Los 4(a): Evaluate strategies for managing a single liability<\/a><\/p>\n Los 4(b): Compare strategies for a single liability and for multiple liabilities, including alternative means of implementation. <\/a><\/p>\n Los 4(c): Evaluate liability-based strategies under various interest rate scenarios and select a strategy to achieve a portfolio\u2019s objectives<\/a><\/p>\n Los 4(d): Explain risks associated with managing a portfolio against a liability structure<\/a><\/p>\n Los 4(e): Discuss bond indexes and the challenges of managing a fixed-income portfolio to mimic the characteristics of a bond index<\/a><\/p>\n Los 4(f): Compare alternative methods for establishing bond market exposure passively<\/a><\/p>\n Los 4(g): Discuss criteria for selecting a benchmark and justify the selection of a benchmark<\/a><\/p>\n Los 5(a): Describe the factors affecting fixed-income portfolio returns due to a change in benchmark yields<\/a><\/p>\n Los 5(b): Formulate a portfolio positioning strategy given forward interest rates and an interest rate view that coincides with the market view<\/a><\/p>\n Los 5(c): Formulate a portfolio positioning strategy given forward interest rates and an interest rate view that diverges from the market view in terms of rate level, slope, and shape<\/a><\/p>\n Los 5(d): Formulate a portfolio positioning strategy based upon expected changes in interest rate volatility<\/a><\/p>\n Los 5(e): Evaluate a portfolio\u2019s sensitivity using key rate durations of the portfolio and its benchmark<\/a><\/p>\n Los 5(f): Discuss yield curve strategies across currencies<\/a><\/p>\n Los 5(g): Evaluate the expected return and risks of a yield curve strategy<\/a><\/p>\n Los 6(a): Discuss bottom-up approaches to credit strategies<\/a><\/p>\n Los 6(b): Discuss the advantages and disadvantages of credit spread measures for spread-based fixed-income portfolios, and explain why option-adjusted spread is considered the most appropriate measure<\/a><\/p>\n Los 6(c): Discuss top-down approaches to credit strategies<\/a><\/p>\n Los 6(d): Discuss liquidity risk in credit markets and how liquidity risk can be managed in a credit portfolio<\/a><\/p>\n Los 6(e): Describe how to assess and manage tail risk in credit portfolios<\/a><\/p>\n Los 6(f): Discuss the use of credit default swap strategies in active fixed-income portfolio management<\/a><\/p>\n Los 6(g): Discuss various portfolio positioning strategies that managers can use to implement a specific credit spread view<\/a><\/p>\n Los 6(h): Discuss considerations in constructing and managing portfolios across international credit markets<\/a><\/p>\n Los 6(i): Describe the use of structured financial instruments as an alternative to corporate bonds in credit portfolios<\/a><\/p>\n Los 7(a): Discuss motivations to trade and how they relate to trading strategy<\/a><\/p>\n Los 7(b): Discuss inputs to the selection of a trading strategy<\/a><\/p>\n Los 7(c): Compare benchmarks for trade execution<\/a><\/p>\n Los 7(d): Recommend and justify a trading strategy (given relevant facts)<\/a><\/p>\n Los 7(e): Describe factors that typically determine the selection of a trading algorithm class<\/a><\/p>\n Los 7(f): Contrast key characteristics of the following markets in relation to trade implementation: equity, fixed income, options and futures, OTC derivatives, and spot currency<\/a><\/p>\n Los 7(g): Explain how trade costs are measured and determine the cost of a trade<\/a><\/p>\n Los 7(h): Evaluate the execution of a trade<\/a><\/p>\n Los 7(i): Evaluate a firm’s trading procedures, including processes, disclosures, and record-keeping with respect to good governance<\/a><\/p>\n Los 8(a): Discuss tools for managing portfolio liquidity risk<\/a><\/p>\n Los 8(b): Discuss capture of the illiquidity premium as a long-term investment strategy<\/a><\/p>\n Los 8(c): Analyze asset allocation and portfolio construction in relation to liquidity needs and risk and return requirements and recommend actions to address identified needs<\/a><\/p>\n Los 8(d): Demonstrate the application of the Code of Ethics and Standards of Professional Conduct regarding the actions of individuals involved in manager selection<\/a><\/p>\nLearning Module 2: Active Equity Investing: Strategies<\/h3>\n
Learning Module 3: Active Equity Investing: Portfolio Construction<\/h3>\n
Learning Module 4: Liability-Driven and Index-Based Fixed Income Strategies<\/h3>\n
Learning Module 5: Fixed-Income Active Management: Yield Curve Strategies<\/h3>\n
Learning Module 6: Fixed-Income Active Management: Credit Strategies<\/h3>\n
Learning Module 7: Trade Strategy and Execution<\/h3>\n
Learning Module 8: Case Study in Portfolio Management: Institutional<\/h3>\n