Investment Management
Industry training and support
Continuous learning and education is a key element for any successful organisation in the Investment Management Industry. PricewaterhouseCoopers continues to contribute to the development and education of executives in the investment management industry.
We offer a series of courses designed to meet the needs of individuals facing a rapidly changing industry. Courses range from a basic level to specialised sessions addressing complex issues and technical developments. We also tailor courses specifically to an organisation's needs.
We hold periodic classes on key regulatory, tax and accounting developments and in order to ensure our staff meet individual engagement needs, PricewaterhouseCoopers supports an extensive internal training program for all levels of professionals within our firm. See below for an overview of some of our more popular courses.
Overview of the investment funds industry
- Introduction to investment funds
- What is a fund
- Main types of structure (trust/corporate)
- Impact of structure on the different parties to a fund (i.e. director vs trustee)
- Roles and responsibilities of the service providers to the Investment Management Industry and the Hong Kong Regulators (Administrator, Investment Manager/Advisor, Custodian, Trustee, SFC, Stock Exchange)
Fund structuring
- Why select certain structures
- Why select certain jurisdictions
Introduction to IFRS (previously IAS)
- Introduction to international accounting standards
- Overview of those standards which most impact investment management
- Consideration of structure and content of financial statements
IFRS - in-depth
- In-depth consideration of individual standards, including assessment of their impact investment funds
- Work through IAS, including example disclosures
- Work through IAS 7 (Cash Flow Statement), including example disclosures
- Work through IAS 27/28 (Accounting for Subsidiaries and Associates), including example disclosures
- Work through IAS 39 (Financial Instruments), including example calculations and disclosures
Complex financial instruments
- Types of investments, their risks & how to account for them
- Includes forwards, futures, swaps, swaptions, options, spreadlocks, CFD's, repos, reverse repos, TIPS, step up bonds, securities in default, deep discount/emerging market bonds, CLO's/CDO's, Ascots
- Recognition
- Financial statement treatment and disclosures
Complex fund structures
- Covers Master/feeder funds, fund of funds, partnerships and multi class funds
- Work through financial statements of each structure, identifying structure specific attributes and accounting issues
- Identify the impact on the financial statement of using US versus IAS versus Hong Kong GAAP
Understanding Hedge Funds
- Structuring/domicile
- Risks
- Strategies and their impact on positions held
- Introduction to performance fees
- Valuation
Understanding Private Equity Funds
- Structuring/domicile
- Risks
- Strategies and their impact on positions held
- Introduction to performance fees
- Valuation
Performance fee calculations
- Introduction to performance fees, risks, methods of calculation
Income Equalisation
- Introduction to the concept of equalisation
- Why equalise?
- Calculation
- Recognition
- Financial statement treatment and disclosures
Performance and presentation standards
- AIMR/GIPS
- What are AIMR/GIPS?
- Benefits of being AIMR/GIPS compliant
- End users
Reporting on internal control environments
- FRAG 21/SAS 70
- What is a FRAG 21/SAS 70?
- Benefits of having a FRAG 21/SAS 70
- End users.
