买方市场从业资格认证

Section 1 - Overview

• The drivers of the financial markets
• Who are the players involved in financing corporates?
• Introducing the ‘buyside’ and the ‘sell side’ – what do these terms mean?

 Section 2 – An overview of the Buyside assets

• Assets incl. ordinary shares, preferred stock, bonds and derivatives
• Asset classes and the potential risks and return

 Section 3 – A focus on the fixed income market

• What are bonds and how do they work?
• How bonds are issued for the first time
• Buying and selling bonds and the role of debt research
• How bonds are repaid
• Investment risk

 Section 4 – Who are the main buyside participants?

• Who are the buyside investors? Their rationale, priorities and motivations
• Important buyside players incl: Asset Managers, Insurance Companies, Pension Funds
• Buyside players – what are their strategies and objectives?
• Important buyside players incl: Sovereign Wealth Funds, Hedge Funds, Central Banks, Private banks & the Treasury, Retail investors/Mutual Funds, Family offices

 Section 5 – The role of the buyside

• How do buyside investors generate funds?
• Mutual funds, ETFs and separate institutional accounts
• Investment strategies incl: Active management against a benchmark; Exchange Traded Funds /passive management, defining liability driven investing
• The role of bonds in different investment strategies:
  • Sovereign bonds vs corporate bonds
  • The impact of instruments such as inflation bonds, CDOs etc.
• Concepts of Leverage and Yield
• Performance generation & sources of investment performance

 Section 6 - Risk

• Types of risk for fixed income investors
• Managing currency, interest rate and inflation risks incl: hedging
• Liquidity risk and market shocks
• An overview of credit risk

 Section 7 – Regulation

• Key regulation that governs the buyside incl: Investor protection, Asset managers conduct, the role of asset managers contributing to financial stability, Prudential risk

 Section 8 – Innovation in the Buyside

• ESG and sustainability
• Impact of digitalisation incl: Distributed ledger technology (DLT) trading and post trading processes, Crypto assets, digital operational resilience of organisations, regulation