This highly practical 1 day course conducted by a senior expert covers the whole UCITS framework and is intended to provide participants with the appropriate knowledge and skills to set up and manage UCITS funds.
All aspects of UCITS fund management and operations are covered with particular emphasis on risk management of all funds operations. You will learn about setting up and managing UCITS Funds in different jurisdictions, EU passporting, marketing, as well as fund governance and oversight.
The programme includes case studies on pricing errors, investment breaches, failures of risk controls and of fund governance. We will also examine the areas of interest to regulators when reviewing funds and fund managers to help meet compliance requirements.
What will you learn
By the end of this course you will have a solid understanding of:
- The key characteristics of UCITS, their structure and objectives
- The main regulatory aspects and the differences in setting up funds in the UK, Ireland and Luxembourg
- How to structure UCITS
- The main changes under UCITS V
- The necessary documentation required
- The main parties involved and their role
- How to organise fund governance
- Key risk and performance indicators
- Organising compliance monitoring and fund oversight
- The latest market developments
- The implications of Brexit on UK UCITS Funds
Course Content
- The key features, use and structure of UCITS
- Comparison with AIFMD
- UCITS distribution
- UCITS products: long only, ETFs and alternatives
- UCITS structuring
- UCITS V: remuneration, reporting and depositary requirements
- UCITS VI: eligible assets and the use of derivatives, efficient portfolio management, over-the-counter derivatives,liquidity management rules, depositary passport, money market funds, long-term investments
- Harmonisation of UCITS & AIFMD: harmonising UCITS reporting, scope under MIFID, delegation and substance, leverage, cross-border supervision, remuneration proportionality
- Main parties involved and their role
- Structuring UCITS and authorisation process in Luxembourg and Ireland
- Fund governance
- Fund documentation
- Investment & borrowing power
- Setting up UCITS
- Key risk and performance indicators
- The implications of Brexit on UK UCITS Funds
Speakers
The Course Director is a founder of a sustainable asset management business and is responsible for risk, compliance and operations. He is also Chair of the investment committee. He has over 35 years’ experience as a trader, broker, management consultant and asset management risk manager. He was responsible for establishing and authorising the UK and Guernsey regulated entities and fund vehicles. He has acted as an expert witness on fund regulation and client classification cases, both of which settled in line with his advice. He has sat on LP Advisory Committees and acts as a NED for a range of companies.
Prior to this, he was a Global Head of Risk Management for Credit Suisse Asset Management, which had assets under management of cUS$350 billion when he left. At CSAM he established their independent risk function, sat on the Credit Suisse Group Risk Committee and was a trustee director of the Credit Suisse UK pension schemes. Previously, Neil was Global Head of Risk Management at HSBC Asset Management, where he established their independent risk function.
The Course Director is a Chartered Fellow of the CISI. For the past fifteen years he has chaired the CISI diploma panel for the Financial Derivatives paper and chairs the CISI Bond Forum.
He has worked with well known clients across the asset management industry on a range of diverse projects.
Who Should Attend
This event will be of value to anyone running or setting up UCITS funds including fund management, transfer agency, fund accounting, compliance, audit, operational risk and depositary staff.
From Asset and Fund Management, Investment Banking, Hedge Funds and Institutional Investors with the following background:
- Funds Management
- Investment Management
- Fund Administration
- Portfolio Management
- Structuring
- Risk Management
