Fixed Income Investment: Practical, applicable knowledge & skills for managing bonds & fixed income

Niveau
Tijdsduur
Startdatum en plaats
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Startdata en plaatsen

Amsterdam
11 nov. 2019 tot 13 nov. 2019

Beschrijving

This program is eligible for 18 CE credit hours as granted by CFA Society VBA Netherlands

Fixed Income Investment provides a practical overview of the fixed income markets, with focus on the management of bond portfolios.


How you will benefit

  • Increase your understanding of the different types of risk faced by bond portfolio managers
  • Learn about measures of risk such as duration and convexity as well as more advanced measures
  • Review fixed-income derivatives, options and swaps and understand their usefulness in bond portfolio management for hedging or speculating

isk and Return for Bonds without Embedded Options

  • Yield measures
  • Risk measures: Part I
    -  Duration: Definition, usefuln…

Lees de volledige beschrijving

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Nog niet gevonden wat je zocht? Bekijk deze onderwerpen: Investeren, Ondernemen, Bedrijfsovername, Fusies & overnames en Business Valuation.

This program is eligible for 18 CE credit hours as granted by CFA Society VBA Netherlands

Fixed Income Investment provides a practical overview of the fixed income markets, with focus on the management of bond portfolios.


How you will benefit

  • Increase your understanding of the different types of risk faced by bond portfolio managers
  • Learn about measures of risk such as duration and convexity as well as more advanced measures
  • Review fixed-income derivatives, options and swaps and understand their usefulness in bond portfolio management for hedging or speculating

isk and Return for Bonds without Embedded Options

  • Yield measures
  • Risk measures: Part I
    -  Duration: Definition, usefulness, properties and limitations
     
  • Risk measures: Part II
    -  Convexity: Definition, usefulness, properties and limitations
     
  • Usefulness of duration in bond portfolio management: Immunization
  • Usefulness of convexity in bond portfolio management: Butterfly swaps

Content

Risk and Return for Bonds with Embedded Options

  • Adjusted yield measures
  • Adjusted risk measures
    -  Adjusted duration
    -  Adjusted convexity
     
  • Bond portfolio management for bonds with embedded options
     

 New Measures of Risk

  • Factor based measures of risk
    -  The shift
    -  The tilt
    -  The flex
     
  • Key rate durations


Use of Derivative Instruments in Bond Portfolio Management: Part I - Interest Rate Swaps

  • Interest rate swaps as portfolio of bonds
  • Risk of interest rate swaps: Interest rate risk and credit risk
  • Swap rationale
  • Advanced swaps: Forwards and swaptions
  • Usefulness of swaps in bond portfolio management

Use of Derivative Instruments in Bond Portfolio Management: Part II - Options

  • Pricing interest rate options
    -  Typology of interest rate options
    -  Simple payoff diagrams
    -  Pricing interest rate options: The Black, Derman and Toy Model


Use of Interest Rate Options in Bond Portfolio Management

  • Pricing examples
    -  Bonds with embedded options
    -  Sinking funds
     
  • Reshaping bond portfolio returns with options
  • Hedging asymmetric risk with options
  • Duration hedging with convexity adjustment using futures and options
     

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  • Bekijk gerelateerde producten mét ervaringen: Investeren.

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Er zijn nog geen veelgestelde vragen.  

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