Fixed Income Fund Management

Course Overview

This course offers an in-depth exploration into managing fixed income securities, designed for professionals seeking to deepen their understanding of the bond markets. This comprehensive course covers a wide range of topics crucial for fixed income fund management, including the factors influencing fixed income markets like economic forecasts, trends, and central bank activities.

Participants will learn about yield curves, with exercises on managing portfolios under various assumptions in US, Euro, JPY, and GBP markets.

The course also delves into bond market sectors, including USD and EUR investment grade, emerging market debt, and the intricacies of managing portfolios within these sectors.

Additionally, the programme addresses inflation-linked funds, hybrids like COCOs and corporate hybrids, and technical measures critical for assessing interest rate and credit risks such as duration, modified duration, convexity, and spread duration.

Through practical exercises and product reviews, participants will gain hands-on experience in strategizing and positioning fixed income portfolios, preparing them to navigate the complexities of the fixed income fund management landscape.

Learning Objectives

• Analyse the various factors that influence fixed income markets, including economic forecasts, trends, central bank policies, and yield curves, to make informed investment decisions.
• Understand and apply knowledge of yield curves across major markets (US, Euro, JPY, GBP), including the drivers of these curves and their impact on fixed income portfolios.
• Manage and strategize fixed income portfolios within different sectors such as USD investment grade, EUR investment grade, and emerging market debt, incorporating exercises to enhance practical skills.
• Evaluate the characteristics and specific drivers of emerging market debt and inflation-linked funds, differentiating between hard currency, local currency, total return, and inflation-linked emerging market debt.
• Gain proficiency in technical measures for assessing interest rate and credit risks, including duration, modified duration, convexity, and spread duration, and their application in fixed income portfolio management.
• Critically review and interpret fund factsheets to understand fund positioning and performance within the context of current market conditions.