How Investment Analysis & Portfolio Management greatly focuses on portfolio c...QUESTJOURNAL
Abstract: Portfolio Construction is a capstone elective that draws on previously studied investment principles, theories and techniques. Its enable synthesize that acquired financial theories and knowledge in the context of portfolio construction and asset allocation. It focuses on gaps in theory and how they can be managed in practice.
Delivered this presentation in my office with an objective to disseminate the domain knowledge of Hedge Funds to our India as well as US team and higher management. It helped them in gearing up better as consultants to better deal with our clients hailing from Hedge Funds Industry.
I hope it helps you too.
How Investment Analysis & Portfolio Management greatly focuses on portfolio c...QUESTJOURNAL
Abstract: Portfolio Construction is a capstone elective that draws on previously studied investment principles, theories and techniques. Its enable synthesize that acquired financial theories and knowledge in the context of portfolio construction and asset allocation. It focuses on gaps in theory and how they can be managed in practice.
Delivered this presentation in my office with an objective to disseminate the domain knowledge of Hedge Funds to our India as well as US team and higher management. It helped them in gearing up better as consultants to better deal with our clients hailing from Hedge Funds Industry.
I hope it helps you too.
Hedge funds (The Indian Context and the Regulatory Framework)Sham Chandak
This presentation in a broad sense gives an idea about the hedge funds, their objectives, their participants, their evolution. It talks about how India attracts the eye of Hedge Fund managers world wide. The growth potential in India as an emerging economy. The various types of Hedge Funds and the strategies implemented. The indices which track Hedge Fund performances around the globe. Some empirical findings about the absolute returns generated by hedge funds. The regulatory framework in India for Hedge Funds as a part of Alternative Investment Funds as guided by SEBI
Alternate grp project hedge funds in india Saurabh Mittra
HEDGE FUNDS IN INDIA, SCOPE OF HEDGE FUND, PRESENT SCENARIO, STRATEGIES OF HEDGE FUNDS, OVERVIEW OF HEDGE FUND, FEES STRUCTURE OF FUNDS, PERFORMANCES OF LOCAL AND FOREIGN FUNDS, ASSET UNDER MANAGEMENT DATA
This paper discusses how institutional-quality hedge funds possess a much greater risk/reward pay off then the leading liquid alternative funds can offer.
This educational resource details the traditional calculation method that hedge funds use for their assets under management. It also explains the new method of calculation used by the Securities and Exchange Commission, called Regulatory Assets Under Management (RAUM).
The Toroso Target 8 Series consists of five distinct portfolios comprised of ETFs and other exchange traded products (ETPs), that are structured to reflect a client’s economic point of view while considering the client’s risk tolerance and time horizon. Toroso recognizes the need for clients to express their economic point of view while achieving more consistent returns than those structured using more traditional approaches such as Modern Portfolio Theory. Risk is mitigated using 4 distinct asset classes such that not one economic scenario will deplete a client’s portfolio under stressful market events.
The law firm's investment management practice represents a full range of U.S. domestic and non-U.S. clients
in all aspects of their organization and operations. Our clients include start-up investment managers/advisers and
investment funds, seasoned private equity and venture capital professionals and established/industry-recognized investment companies and institutions.
Corporate Structuring and Fundraising for Single Purpose VehiclesRiveles Wahab LLP
What do securities syndications and fundraising for real estate, restaurant ventures, film ventures, theme parks and a variety other project finance opportunities have in common?
The answer is simply the often overlooked and misunderstood “SPV.” Essentially, the SPV or “Single Purpose Vehicle” is an entity that is structured to take in investor monies towards funding a singular dedicated project or opportunity. Indeed, a great majority of real estate finance projects, and a variety of other project finance opportunities essential to the U.S. economy, are at least partly funded by SPVs. Furthermore, with the advent of crowdfunding and “general solicitation” under the JOBS Act, the SPV’s role in financing a variety of projects and operating companies cannot be overstated.
Through examining their nature and mechanisms, identifying their spin-offs and analyzing their performance, this presentation is designed to discuss what to look out for when conduct due diligence on different hedge fund strategies.
Vskills certification in Treasury Markets introduces candidates to functions of a Treasury Department in a bank or corporate. The Certification also covers various financial products in the treasury department and the risk management techniques used in the treasury. A Vskills Certified treasury market professional finds employment in various retail banks, investment banks, research firms, and treasury departments of various MNCs.
http://www.vskills.in/certification/Certified-Treasury-Market-Professional
Hedge funds (The Indian Context and the Regulatory Framework)Sham Chandak
This presentation in a broad sense gives an idea about the hedge funds, their objectives, their participants, their evolution. It talks about how India attracts the eye of Hedge Fund managers world wide. The growth potential in India as an emerging economy. The various types of Hedge Funds and the strategies implemented. The indices which track Hedge Fund performances around the globe. Some empirical findings about the absolute returns generated by hedge funds. The regulatory framework in India for Hedge Funds as a part of Alternative Investment Funds as guided by SEBI
Alternate grp project hedge funds in india Saurabh Mittra
HEDGE FUNDS IN INDIA, SCOPE OF HEDGE FUND, PRESENT SCENARIO, STRATEGIES OF HEDGE FUNDS, OVERVIEW OF HEDGE FUND, FEES STRUCTURE OF FUNDS, PERFORMANCES OF LOCAL AND FOREIGN FUNDS, ASSET UNDER MANAGEMENT DATA
This paper discusses how institutional-quality hedge funds possess a much greater risk/reward pay off then the leading liquid alternative funds can offer.
This educational resource details the traditional calculation method that hedge funds use for their assets under management. It also explains the new method of calculation used by the Securities and Exchange Commission, called Regulatory Assets Under Management (RAUM).
The Toroso Target 8 Series consists of five distinct portfolios comprised of ETFs and other exchange traded products (ETPs), that are structured to reflect a client’s economic point of view while considering the client’s risk tolerance and time horizon. Toroso recognizes the need for clients to express their economic point of view while achieving more consistent returns than those structured using more traditional approaches such as Modern Portfolio Theory. Risk is mitigated using 4 distinct asset classes such that not one economic scenario will deplete a client’s portfolio under stressful market events.
The law firm's investment management practice represents a full range of U.S. domestic and non-U.S. clients
in all aspects of their organization and operations. Our clients include start-up investment managers/advisers and
investment funds, seasoned private equity and venture capital professionals and established/industry-recognized investment companies and institutions.
Corporate Structuring and Fundraising for Single Purpose VehiclesRiveles Wahab LLP
What do securities syndications and fundraising for real estate, restaurant ventures, film ventures, theme parks and a variety other project finance opportunities have in common?
The answer is simply the often overlooked and misunderstood “SPV.” Essentially, the SPV or “Single Purpose Vehicle” is an entity that is structured to take in investor monies towards funding a singular dedicated project or opportunity. Indeed, a great majority of real estate finance projects, and a variety of other project finance opportunities essential to the U.S. economy, are at least partly funded by SPVs. Furthermore, with the advent of crowdfunding and “general solicitation” under the JOBS Act, the SPV’s role in financing a variety of projects and operating companies cannot be overstated.
Through examining their nature and mechanisms, identifying their spin-offs and analyzing their performance, this presentation is designed to discuss what to look out for when conduct due diligence on different hedge fund strategies.
Vskills certification in Treasury Markets introduces candidates to functions of a Treasury Department in a bank or corporate. The Certification also covers various financial products in the treasury department and the risk management techniques used in the treasury. A Vskills Certified treasury market professional finds employment in various retail banks, investment banks, research firms, and treasury departments of various MNCs.
http://www.vskills.in/certification/Certified-Treasury-Market-Professional
Study on Mutual Fund is the Better Investment PlanProjects Kart
Mutual funds have become a hot favorite of millions of people all over the world. The driving force of mutual fund is the ‘safety of the principal’ guaranteed, plus the added advantage of capital appreciation together with the income earned in the form of interest or dividend. People prefer Mutual Funds to bank deposits, life insurance and even bond because with a little money, they can get into the investment game. One can own string blue chips like ITC, TISCO, Reliance etc., through mutual funds. Thus, mutual funds act as a gateway to enter into big companies hitherto inaccessible to an ordinary investor with his small investment.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
1. February 1, 2010 Part I Hedge Funds: Overview, Operational and Risk Management Jason T. Wallace, FRM, CAIA [email_address]
2. Presentation Outline I. Hedge Funds A. Overview B. Hedge Fund Risk Management II. Credit and Liquidity Crisis A. Overview B. Crisis Affect on Hedge Funds III. Case Study 1: IV. Case Study 2: V. Question and Answer Session
3. I. Hedge Funds A. Overview Hedge Fund Definition Industry Overview Hedge Fund Strategies
4. What is a Hedge Fund? Defined more by operational structure than a strategy. Private Partnerships designed to take advantage of flexibility in portfolio construction and strategies. Distinction from Traditional Asset Management: Directional Exposure Investment Vehicles Multiple Asset Classes Leverage Fee Structure Alignment of Incentives Investor Requirements
5. Industry Overview Origins Alfred Winslow Jones started the first hedge fund in 1949, using short selling and leverage. The Hedge Fund industry grew in the 1980s and 1990s with names such as Julian Robertson, George Soros, Eddie Lampert, Paul Tudor Jones.
6. Industry Overview Growth {www.hedgefundresearch.com, www.eurekahedge.com} Number of Funds: YE2009 = About 8,000 single managers globally, down from a high of over 10,000 in mid 2008. Fund of Funds number 1,100, down almost 15% from mid 2008. Assets Under Management : YE2009 = $1.47 trillion in single manager Hedge Funds and $440 billion in Fund of Funds. This is down from a high of over $2 trillion and $1.2 trillion respectively, in mid 2008.
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9. Industry Overview Investors Originally High-Net Worth Individuals. Strong growth from institutional investors and sovereign funds. Today institutional investors including endowments, foundations, public and corporate pension plans and fund of funds constitute the majority of single manager’s investors.
10. Hedge Fund Strategies {www.hedgefundresearch.com, www.barclayhedge.com} I. Equity Hedge II. Event Driven III. Macro IV. Relative Value V. Commodity Trading Advisors (CTA)
11. Equity Hedge {www.hedgefundresearch.com, www.barclayhedge.com} 1. Equity Market Neutral 2. Equity Long/Short 3. Fundamental Growth 4. Fundamental Value 5. Quantitative Directional 6. Sector Specific 7. Geographic Specific 8. Short-Bias 9. Multi-Strategy
12. Equity Market Neutral {www.hedgefundresearch.com} Can employ sophisticated quantitative techniques. Can include Factor-based and Statistical Arbitrage. Usually the portfolios are structured to be neutral to one or more factors (in dollar or beta terms). EMN Strategies typically maintain net equity market exposure no greater than +/- 10%.
14. Distressed/Restructuring {www.hedgefundresearch.com} Focused on corporate fixed income instruments, primarily on corporate credit instruments of companies trading at significant discounts to their value at issuance or obliged (par value) at maturity . Usually as a result of formal bankruptcy proceeding or financial market perception of near term proceedings. Managers are typically actively involved. Based on fundamental credit valuation and asset coverage of securities.
15. Merger Arbitrage {www.hedgefundresearch.com} Focused on companies engaged in corporate transactions. Invested in equity, equity derivatives, and equity related instruments. Typical “Merg Arb” play is to go long the takeover target and short the acquirer. A “Reverse Merg Arb” play is to bet against the transaction taking place, in which case the takeover target is sold short and the acquirer is held long.
17. Macro: Thematic Discretionary {www.hedgefundresearch.com} Heavily influenced by top down analysis of macroeconomic variables. Can invest in a wide range of asset classes and instruments. Positions typically are predicated on the evolution of investment themes expected to materialize. Many times positions are contrarian in nature. Historically Macro Discretionary funds have outperformed during market turbulence.
19. Fixed Income – Convertible Arbitrage {www.hedgefundresearch.com} Investment thesis is predicated on realization of a spread between related instruments, one of which is a convertible fixed income instrument. The traditional “Convert Arb” strategy purchases the convertible debt and sold short the equity of a company.
20. Volatility Arbitrage {www.hedgefundresearch.com} Trade volatility as an asset class. Strategy can be arbitrage, directional, market neutral or a mix. Directional volatility strategies maintain exposure to the direction of implied volatility in a security, index or asset class. Arbitrage strategies isolate opportunities between the price of multiple options or instruments containing implicit optionality (dispersion and correlation trading).
22. I. Hedge Funds B. Risk Management Operational and Business Risks Portfolio and Investment Risks Examples of Operational and Risk Management Failure
23. Types of Risk in Hedge Fund Investments Operational and Business Risks {www.hedgefundmatrix.com} Creating and Managing a Hedge Fund Business Portfolio Administration and Operational Controls Raising Capital and Investor Relations Hedge Fund Structure and Organization
24. Operational and Business Risks Creating and Managing a Hedge Fund Business {www.hedgefundmatrix.com} Management and Controls Finance Compliance Employees
25. Operational and Business Risks Portfolio Administration and Operational Controls {www.hedgefundmatrix.com} Trade and Reconciliation Procedures Portfolio Valuations Non-Trading Transactions Information Systems and Business Continuity
26. Operational and Business Risks Raising Capital and Investor Relations {www.hedgefundmatrix.com} Raising Capital On-going Investor Communications
27. Operational and Business Risks Hedge Fund Structure and Organization {www.hedgefundmatrix.com} Structure of the Hedge Fund Independent Service Providers
28. Types of Risk in Hedge Fund Investments Portfolio and Investment Risks Investment Process (Including Independence of Risk Management) Portfolio Risk Management
33. Example Questions from a Due Diligence Questionnaire Please articulate your Sell Discipline and stop loss rules in place. Please explain your Hedging Process and Instruments used. Examples of hedges utilized. Measurement of hedge ratios. Frequency of hedges. Please explain your Risk Management Tools and Systems. What Balance Sheet Leverage do you utilize? As calculated by market value of assets / equity capital AUM or margin Average, Max., Min. Leverage constraints. What is your Funding Liquidity Risk? (i.e. cost sensitivity to LIBOR) What Embedded Security or Trade Level Leverage do you have? Please provide the Portfolio Liquidity Profile (as calculated by 90% of fund days-to-liquidate based on 25% of average daily market volume). Discuss Illiquid investments in the portfolio % of AUM
34. Examples of Operational and Risk Management Failure Operational Based: Misappropriate, Misrepresentation, Outright Fraud Portfolio Based: Poor Investments or Risk Management
35. Examples of Operational and Risk Management Failure Operational Based: Misappropriate, Misrepresentation, Outright Fraud Bayou Capital Madoff Dreier
36. Examples of Operational and Risk Management Failure Portfolio Based: Long Term Capital Management (LTCM) Amaranth
37. Examples of Operational and Risk Management Failure: Bayou Capital Operational Based Approximately $450 million was raised by the group from investors. Funds were misappropriated for personal use. Returns were misrepresented. A fake accounting firm was set up to provide misleading audited results ( outright fraud).
38. Examples of Operational and Risk Management Failure: Madoff Operational Based A revered and respected figure in the securities industry, Madoff had held such seats as NASDAQ chair and ran both a broker-dealer and an investment advisory firm. Madoff set up a shell auditing firm and provided limited transparency to most investors. The operation was a classic Ponzi scheme, and capital hadn’t actually be invested in securities in many years. It is estimated that $18 billion was lost.
39. Examples of Operational and Risk Management Failure: Dreier Operational Based Allegedly claimed that Solow, a former colleague, was looking to raise $500 million by selling short-term, high-interest notes . Solow had no knowledge of the situation, and when investors asked to talk to Solow or his firm, Dreier ‘s colleagues posed as members of Solow’s firm. Dreier forged the audited reports of Solow’s supposed investments. There were $450 million in loss claims.
40. Examples of Operational and Risk Management Failure: LTCM Portfolio Based Primary strategy was fixed income arbitrage like buying cheaper off-the-run bonds (e.g. 29.75y treasury bond) and shorting the more liquid on-the-run bonds (e.g. 30y treasury bond). Based on historical data there was a high statistical probability that the prices would converge. However, leverage was needed to see these FI Arb trades made enough money, especially the convergence FI Arb trades.
41. Examples of Operational and Risk Management Failure: LTCM Portfolio Based Additionally, as LTCM’s capital base grew, they delved into trades other than FI Arb. By 1998 the firm had equity of $4.72 billion and had borrowed over $124.5 billion with asset values around $129 billion for a debt to equity ratio of about 25 to 1. It had off-balance sheet derivative positions with a notional value of $1.25 trillion (primarily interest rate swaps).
42. Examples of Operational and Risk Management Failure: LTCM Portfolio Based Losses in May and June of 1998 of -6.42% and -10.1% were unprecedented for the firm. And losses in July were further aggravated by the exit of Salomon Brothers from the Arbitrage business. When Russia defaulted on their government bonds in the fall of 1998 panicked investors sold Japanese JGBs and European bonds to buy U.S. treasuries. The FI Arb convergence trades blew out, as values diverged , amounting to huge losses for the firm.
43. Examples of Operational and Risk Management Failure: LTCM Portfolio Based Finally, as word got out that LTCM was losing so much money there was a “short squeeze” as market participants further traded the divergence, knowing that enough pain would force LTCM to exit their positions and further extenuate the price movement. By the end of August the firm had lost $1.85 billion in capital.
44. Examples of Operational and Risk Management Failure: Amaranth Portfolio Based Amaranth’s energy desk was run by Brian Hunter. Placed bullish bets on natural gas in 2005 and when Hurricane Katrina severely impacted natural gas and oil production and refining capacity the trades paid off. Hunter used 8 to 1 leverage to bet that the price of the March ‘07 and March ‘08 futures contract would increase relative to the price of the April ‘07 band April ‘08 contracts (a “spread trade”). The spreads collapsed and Amaranth lost $6 billion, $5 billion of which was lost in one week.
45. February 1, 2010 Part V. Question and Answer Session Jason T. Wallace, FRM, CAIA [email_address]