Introduction to Funds

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This introductory half-day course is designed to provide an insight into the area of the UK investment funds business . You will learn about the main characteristics of funds, their structure, the key players and their roles; as well as providing an overview of the UCITS Directive . Equally important, the course breaks down and explains the many acronyms and terms used in the industry in simple and straight-forward language.

This course is relevant for anyone wishing to be introduced to the characteristics of investment funds and the regulatory requirements which apply.

Key Learning Objectives

• Analyse the different types of investment funds
• Familiarise yourself with fund terminology and the acronyms
• Identify the benefits and disadvantages of funds
• Understand common UK fund structures
• Be able to identify fund types and asset classes
• Explain the purpose of the UCITS Directive

Contact the IA Training Team to ask questions regarding any of the courses we run, or if you are experiencing problems or difficulties when attempting to register, please email: Training@theia.org

Overview of the fund ecosystem

• What are investment funds?
• The advantages and disadvantages of investment funds
• Understanding the meaning of Assets Under Management (AUM) and how it is calculated
• The difference between AUM and Net Asset Value (NAV)
• Overview of the different asset classes available and how the asset classes are used to meet investor objectives
• Active vs. passive investment strategies
• Types of charges and costs paid by funds and fund investors
• What are fund ratings and how they are used

Fund types and structures – understanding the different investment structures and “busting” the terminology and opening up the meaning of the acronyms

• Open-ended (variable capital) vs. Closed-ended (fixed capital) funds – defining the differences between the two fund structures
• Unit trusts and Open-Ended Investment Companies (OEICs) – defining the differences and does it matter which I choose?
• Exchange Traded Funds (ETFs) and how do they differ from other types of investment funds
• The three categories of authorised funds – their structure and objectives
• What is the difference between UCITS, Non-UCITS (NURS) and QIS funds

The key parties in fund operations – defining the responsibilities of each player involved in the overall administration of the fund

• Including the Authorised Fund Manager (AFM), Board of Directors, the investment manager, depositary and custodians, fund accountants, third party administrators, and the fund distributor . and trustees and custodians

Group Exercise: Participants explore a Fund Fact Sheet and Key Investor (Information) Document and discuss what the most useful pieces of information mean and how they are used to make informed investment decisions.

This half-day course is relevant to those who are new to the investment industry or those looking to improve their knowledge and understanding of the different aspects of fund business.

• Investment professionals, investment administration and operations
• Client services and sales and marketing
• Risk management, legal, audit and compliance
• Finance and accounting
• HR and learning and development
• IT and software developers

Russell Hammerson

Russell Hammerson is an experienced banker working with structured products and exotic options over 15 years.

Russell started his career in the fixed income trading division at Chase Manhattan in 1986. After having graduated from the Chase nine-month advanced financial risk analysis programme, he was seconded to the Chase insurance banking division for a year. Taking his insurance expertise with him, he later moved to Citibank to work in the financial engineering division, structuring fixed income and equity products for institutional investors.

From Citibank, Russell moved to Bear Stearns to help set up the newly established equity derivatives group as associate director responsible for marketing and structuring of European products prior to becoming head of structured products at Commerzbank.

Before moving into the technical training arena, Russell ran the structured product group at Banque Nationale de Paris followed by Bankgesellschaft Berlin, London, in a similar role as head of engineered products and international new issues and director of the London Management Committee.

Russell has been training all areas of capital markets since 2001. At BG Consulting (now trading as ZISHI Cornerstone), he specialises in structured products, equity and credit derivatives and exotic options.

IA Member £545.00 +VAT
Non-Member £395.00 +VAT

Pay using a credit card online, or if you wish to be invoiced please email your full details to: Training@theia.org

PLEASE NOTE: Full payment for the course must be made prior to the course commencement date.

• Any cancellation must be made in writing.
• For all cancellation received 15-30 days prior to the course start date, 50% of the course fee is still payable.
• No refund is given for a cancellation made 14 days or less prior to the commencement of a course.
• Transferring from one course to another is treated as a cancellation. You can substitute one delegate for another at no additional cost. In this instance, please give two business days’ notice.

Hybrid Training Courses:

We will continue to monitor and follow government guidance regarding coronavirus (Covid-19) to ensure the safety of our team and our members. Please be advised some training courses could change from hybrid delivery (being held in-person and virtually) to solely virtual delivery, should government guidance require.