Claiming Back Your VAT

All attendees of a London based course incur VAT as a part of the cost of attendance.

Euromoney Learning have partnered with VAT IT to allow you the unique opportunity to recoup the VAT incurred.

Using VAT IT's extensive experience and simple sign-up and refund process, every invoice can be turned into cash for your business.


Claim the VAT that's rightfully yours in four simple steps:

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Why choose VAT IT 

VAT IT have spent two decades identifying, researching and perfecting the foreign VAT Reclaim process and built the best back end technology in the industry. By partnering with Euromoney Learning, we can provide you with a fast and effective way to reclaim your VAT which helps reduce the cost of your training.

VAT IT will charge a percentage of the VAT refund if/when it is successful. 


Can I claim back the VAT myself?

You can claim back VAT directly from the UK Tax Authority (HMRC) by completing the following form. 
For European clients, please refer to form VAT 65
All other clients, please refer to form VAT 65A.

 

You may also be able to claim back your VAT against courses taking place outside of the UK, and we would recommend contacting VAT IT, our specialist partner, to discuss how to do this.

Course details

Dates are currently being finalised. Get in touch to find out more
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Investment Fund Operations & Administration

Improve your knowledge of how funds are managed and administered.
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    Course Overview


    This is a 3-day highly practical course which provides a working knowledge of how unit trusts, mutual funds, pensions funds and hedge funds are constructed, invested, managed and administered.

     

    Featuring practical in-depth coverage of:

    • All types of assets – including alternative, illiquid and volatile assets
    • Comparative fund types, structures, and legal aspects
    • Understanding benchmarks, mandates, investment objectives and constraints
    • Pricing and valuation
    • Reporting & compliance – valuation, reconciliation and settlement
    • Registrar and transfer agency services
    • International client services
    • Client reporting: customised reporting, multi-currency/instrument reporting, and tax reporting
    • Compliance, tax and anti-money laundering issues

    Why Attend


    • Equip yourself with a clear understanding of how and why funds are established, the nature and impact of investment decisions, pricing and valuation, related activities such as portfolio balancing and performance measurement and how these processes affect operational, compliance, reporting, and other administration procedures.
    • Examine a wide range of fund types, their characteristics, operation and administration features, including: mutual funds and unit trusts, pension fund, hedge funds and FOFs, real estate funds, venture capital funds, money market funds.
    • Enhance your market knowledge not only of traditional investment products such as bonds, equities and money market products, but also of more complex products such as derivatives, CDOs, structured products, exchange traded funds, real estate, private equity, commodities and any related structures such as SPVs, SIVs etc.
    • Increase your confidence in controlling fund administration procedure, accurate pricing, valuation and best execution skills,
    • Reassure your skills in the correct legal and compliance procedures, and confidence in liaising with fund managers, investors, sponsors, fund services providers, custodians, and regulators.

    Who should attend

    • Operations supervisor or manager
    • Compliance manager
    • Risk manager
    • Fund administrator
    • Fund services relationship manager
    • Hedge fund administrator
    • Software provider or consultant
    • Custodian
    • Finance and administration
    • Audit and supervision
    • Regulators

  • Day 1

    The investment environment


    Overview of the investment environment today

    • Drivers in investment strategies
    • Evolving products
    • Growth of hedge funds and their impact
    • Globalisation of investment

    Use of products in investment

    • Debt Instruments
    • Money market instruments
    • Equities
    • On exchange derivatives
    • Off exchange derivatives
    • Structured products
    Exercise (1): using these products in strategy decisions – assessing suitability and verifying return objectives
    Exercise (2): analysing the skills and product knowledge that fund administrators need

     

    Types of investment products

    • Off shore
    • On shore
    • Retail
    • Institutional
    • Exercise: Analysing the key issues in the investment environment today and the impact that this is having in fund administration

    Structure of funds

    • Setting up funds
    • Legal structures
    • Limited liability partnerships
    • Limited liability companies
    • Private equity

    Day 2

    Overview of fund jurisdictions and comparisons

    • Luxembourg
    • Channel Islands
    • Mauritius
    • Bermuda
    • Dublin
    • Cayman

    Different types of funds and their characteristics

    • Off-shore vs domestic funds
    • Background, structures and types of funds
    • Overview of the legal structures of funds
    • Examining types of funds and investment products
    • Conventional funds
    • Pension funds
    • Mutual funds and unit trusts

    Collective investment schemes (OEICS)

    • Tracker / index funds
    • Hedge funds
    • Money market funds

    Investment products and their applications

    • Equities
    • Bonds
    • Commodities
    • Derivatives: futures, options, swaps
    • Fund management exercise: delegates will prepare two portfolios one for a mutual fund, one for a hedge fund from a selection of investment products. These portfolios will then be used throughout the program i.e. when looking at NAV, performance fees etc.

    Understanding the fund management process

    • Understanding the theory behind fund management
    • Role and responsibilities of fund managers
    • Setting investment objectives
    • The constraints of the fund manager
    • Asset allocation to enhance portfolio performance
    • Other strategies to maximise performance
    • Managing to the mandate/trust deed
    • Benchmarks and what they mean
    • Controlling the process
    • Performance measurement
    • Attribution analysis

    Fixed income fund management

    • Mastering the concepts of duration and convexity
    • Bond portfolio management

    Equity fund management

    • Understanding the fundamentals of equity analysis
    • Active vs passive equity fund management
    • Examining index funding or tracker funds

    Other types of fund management

    • Cash fund management
    • Money market funds
    • Alternative investments
    • Real estate
    • Venture capital
    • Unlisted equities
    • Pricing/valuation exercise: Delegates will prepare a checklist of pricing and valuation issues and resolutions to problems about illiquid securities, volatile prices, fund of fund values etc

    Day 3

    Roles, responsibilities, reporting & compliance

    Defining the responsibilities of each player involved in the overall administration of the fund

    • Valuation
    • Reconciliation
    • Settlement

    Investment managers

    • Brokers
    • Custodians
    • Fund sponsors
    • Trustees
    • Investors

    Registrar and transfer agency services

    • Buying and selling shares in the fund
    • Maintenance of the shareholders' register for the fund
    • Issuing certificates
    • Amendments to investor details
    • Arrangements on the death of a shareholder
    • Powers of attorney
    • Global transfer agency function
    • Managing the fund process
    • AGM decisions
    • Distributions

    Client services in an international context

    • Documentation and regulation
    • Master agreements for OTC derivatives and repo transactions
    • Trusteeship
    • Scheme particulars
    • Key feature docs
    • Efficient portfolio management
    • Customer protection

    Reporting to clients

    • Preparation of financial statements
    • Customised reporting and information
    • Multi-currency and multi-instruments reporting
    • Tax reporting
    • Client presentation exercise: delegates work in groups to prepare a client meeting presentation to cover fund admin services, reporting, transfer agency services etc

    Compliance in fund administration

    • Legal compliance
    • How the compliance function differs from the risk management function
    • Monitoring of investment policy compliance
    • Comparison to internal and external benchmarks or model portfolios
    • Over and underperformance
    • Tracking errors
    • Sensitive calculations
    • Adhering to regulatory and client investment restrictions
    • Compliance with tax and regulatory rules
    • Money laundering: to what extent are asset management companies obliged to perform money laundering checks?

     

  • Our Tailored Learning Offering

    Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company’s exact requirements? If you’d like to do either of these, we can bring this course to your company’s office. You could even save up to 50% on the cost of sending delegates to a public course and dramatically increase your ROI.

    If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.

    We produce learning solutions that are completely unique to your business. We’ll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.

  • We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

    We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:

    • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
    • Track record – we have delivered training solutions for 95% of worlds’ top 100 banks and have trained over 250,000 professionals.
    • Knowledge – our 150 strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
    • Reliability – if we promise it, we deliver it. We have delivered over 20,000 events both in person and online, using simultaneous translation to delegates from over 180 countries.
    • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 96% on service and 95% on product
This course can be run as an In-house or Tailored Learning programme

Instructor

  • David Loader

    Biography

    The course director has been involved in the financial markets for over 30 years during which time he has worked in a variety of roles within fund management, operations, and investment banking.His experience covers both front office and operations functions, having held positions as Director of S.G.Warburg Securities Ltd, Operations Director of Warburg Futures & Options Ltd and Director Exchange Traded Derivatives at SBC. He now specialises in training and consultancy in the area of fund administration and operations, settlement, custody, operational risk and subjects related to securities and derivatives trading and investment.David works with clients in the United Kingdom and Channel Islands as well as internationally in Singapore, Malaysia, Belgium, France, The Netherlands, Austria, Germany, Gibraltar, Malta, Cyprus, Monaco, Lebanon, Abu Dhabi, Kuwait, Dubai, Bermuda, Panama, India, Mauritius, The Seychelles, Switzerland, USA, India, Australia and Ireland.He is also the author of many finance and investment textbooks published by Wiley, Elsevier and The Securities & Investment Institute. He is a member of Worshipful Company of International Bankers, The Securities and Investment Institute and the Institute of Directors.