Fund Selection

The practices

  2 days
Course objectives

  • Master the process of fund selection

  • Creation of a multi-management portfolio

  • Understand the multi-management practices

Course content

Definition

  • Various approaches and concepts

The birth of multimanagement

  • The role of consultant
  • Search for diversification

Advantages of multimanagement

  • From a portfolio management standpoint
  • From a strategic standpoint
  • From an investor standpoint

The actors

  • Multimanagers, investors, consultants
  • Rating agencies, data suppliers
  • Decision tools

Products and services

  • Product offering
  • Services offering
  • Remuneration

Selection process

  • Quantitative part : universe building, benchmark search, thematic search, statistic and graphic analysis, modelisation and backtesting, fund's follow up
  • Qualitative part : questionnaire and its analysis, the portfolio manager, the team, company organisation
  • Investment process and philosophy

Portfolio construction

  • Asset allocation with style, level of capitalisation, economic sectors
  • Thematic rotation
  • Timing and rebalancing

Performance, risk analysis and attribution

  • Main performance measures
  • Main risk measures
  • Risk and performance attribution

Perspectives and challenges

Performance, independence, transparency




Pierre Hervé

Pierre Hervé

Peter is the President of Advanced Fund Analysis since 2002 and Executive Vice President in charge of Asset Management of Wealth-Heritage since 2010. Previously he was CEO of AXA Multimanager, structure he created in 1999. He teaches in the Masters Asset Management at the University Paris-Dauphine and the University of Poitiers. He has also published two books with Economica on "asset allocation" and "multi-management".

Pierre Hervé also teaches :