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Fund and private equity
Some of the suggested courses are set out below. If there is any particular area of interest that is not covered please contact us.
 
1. Investment fund training – Core principles

Objectives

By the end of the course, delegates will:

  • Understand how investment returns are calculated
  • Be able to assess the risk and return profile of an investment
  • Appreciate how a multi asset portfolio may reduce risk
  • Understand the effect that leverage can have on risk and return

Content

  • Introduction to core financial techniques
    • Simple and compound interest
    • Nominal and effective rates
    • Continuous compounding and reinvestment rates
    • Future value, present value and time value of money
    • Different types of yields – running, yield to maturity, and yield curves
  • Introduction to cash flow analysis
    • Net Present Value
    • Internal rates of return and yields
    • Annuities
    • Asset pricing using discounted cash flows
  • Introduction to risk and return
    • Measuring investor return and risk
    • Calculating expected returns and risk including:
      • Use of averages and standard deviations and normal probability distributions to describe an investment’s return/risk characteristics
      • Concept of investment returns moving together – covariance and correlation
    • How a “rationale” investor makes decisions between alternative investment choices
    • Reducing risk through diversification through a multi-asset portfolio
    • Limit of risk reduction through portfolios
  • Introduction to leverage
    • What is leverage?
    • How leverage works?
    • Using leverage to change the return/risk profile
    • Illustration: Leverage in hedge funds
      • Basics
      • Measurement
      • Sources of leverage
      • Putting it together

Course Types

In house courseIn house
Face to Face courseFace to Face
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2. Private equity and investment fund training – Accounting and reporting issues

Objectives

By the end of the course, delegates will:

  • Understand how investment returns are calculated
  • Focussing on private equity funds
    • Introduction and life cycle
    • Issues with fund accounting
    • Valuation
    • Performance reporting
    • Group accounting issues and investment entities exemption

Content

Introduction

  • Core financial techniques
    • Simple and compound interest
    • Nominal and effective rates
    • Continuous compounding and reinvestment rates
    • Future value, present value and time value of money
    • Different types of yields – running, yield to maturity, and yield curves
  • Cash flow analysis
    • Net Present Value
    • Internal rates of return (IRR) and yields
    • Asset pricing using discounted cash flows
  • Investment funds financial statements
    • Financial statements fundamentals
    • Investment trusts
    • Partnership accounts: investment management services

Introduction to private equity accounting and reporting

  • Fund life cycle
  • Introduction to some key accounting issues
    • Why is private equity fund accounting different
    • Allocations
    • Closings, equalizations and rebalancing
    • Drawdowns and partner transfers
  • Investor reporting
    • GAAP reporting
    • Reporting frameworks and guidelines
    • Going beyond GAAP
  • Valuing private equity
    • Guidelines and fair value reporting
    • Approaches to valuation
      • Income approach
      • Market approach
      • Understanding EBITDA and its use in valuation
    • Valuation issues
  • Measuring performance
    • Why IRR is used and what are the issues?
    • Alternative measures
  • Group accounts and consolidation
    • How a choice of GAAP affects whether a PE fund has to consolidate its investments or not?
    • Review of both IFRS, UK and US GAAP rules as they affect PE funds and why this matters
    • How does the investment exemption work?
    • What about general partners/fund managers?
      • Principal v agent
      • Examples

Course Types

In house courseIn house
Face to Face courseFace to Face
ENQUIRE NOW
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We can deliver courses:

  • Face to faceFace to face
  • Face to faceWebinars
  • Face to faceIn-house
  • Face to faceOnline
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