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Investment Analysis and Evaluation of Fund Manager’s Performance

5 Day Training

Dates: 22 – 26 April 2024
Locations: Premier Hotel Sea Point, Capetown
Platform: Available In-Class / Online

Price: R 23 999.00

Course Introduction

Very often than not, most organisations find themselves sub-contracting or outsourcing the management of Investment of their excess cash to professional fund managers.


This process of out-sourcing investment management is usually given at the advantage of the fund manager. Little is done for the fund manager to be accountable for the investment return. This workshop is meant for those who have the responsibility of managing investments whether within or those whose management have been outsourced. If you want to sharpen your skills in managing a portfolio of investment which you have outsourced its management then this Investment Analysis and Evaluation of Fund Manager’s Performance workshop is suited for you.

Course Objectives

By the end of the Investment Analysis and Evaluation of Fund Manager’s Performance training, participants should be able to:

  • Describe the prescripts of the Pension Fund Act and Regulations

  • Identify the Fund’s Investment approaches.

  • Identify Investment instruments.

  • Analyse/ evaluate the performance of a fund manager.

  • Pass Portfolio management recommendations for Management and fund managers.

Who should attend?

  • Finance Directors /Managers

  • Investment Managers/Officers

  • Accountants

  • Auditors

  • Compliance Officers

  • Any professional who needs an in-depth knowledge of the Investment Analysis

Assumed Knowledge

The following is assumed to the participants who are attending this Investment Analysis and Evaluation of Fund Manager’s Performance course, that:

  • They are familiar with the enterprise operations.

  • They know the Fund Managers their employer’s use.

  • Familiar with Investment terminologies

Requirements for this training

Participants should bring their current Fund Manager’s Investment Reports, Investment Procedure Manual, and a set Investment Policy Statement (both printed and electronic)

Training methodology

Training Methodology

Our diverse instructional approaches ensure effective learning:

– Lectures & Presentations: Engage with expert-driven, stimulating content.
– Course Material: Access well-crafted supporting resources.
– Group Work: Collaborate on discussions and case studies for practical insights.
– Workshops & Role-Play: Participate in immersive, scenario-based activities.
– Practical Application: Focus on applying theoretical knowledge in real situations.
– Post-Training Support: Receive extensive support after training for skill implementation.

Training Outline

Legal Background for Investment

  • Pension Fund Act

    • Allocation of assets and liabilities between a pension fund and other associated business(es)

    • Guidelines for Fund Investments

  • Roles and Responsibilities of stakeholders in a Pension Fund as stipulated by the Pensions Fund Act

    • Members of the Fund

    • Trustees of the Fund

    • Principal Officers

    • Agents and Service Providers

    • Benefit Administration services.

    • Asset Managers

    • Fund Consultants

  • Corporate Governance Code and Trustees Code of Conduct

Investment Policy Statement (IPS)

What is an IPS?

  • Purpose of the IPS

  • Investment Objectives

  • Stakeholder Interest Objective

  • Return objective.

  • Risk objective.

  • Risk Management.

  • Portfolio description

  • Determination of Asset concentration and their corresponding benchmarks

Asset Allocation

  • Strategic Asset Allocation (SAA)

  • Tactical Asset Allocation (TAA)

  • Investment Performance benchmarks

  • Rebalancing Guidelines

Investment Monitoring and Evaluation

  • Oversight Role

  • The Fund Manager’s Performance Review

  • Benchmarks (Listed and Unlisted)

  • Quarterly Review

  • Annual Review

  • Procedures for Underperformance

  • Unlisted Performance Valuations

Approaches to an Entity’s portfolio management

  • Out-sourcing

  • Direct management

    • Active Portfolio Management

    • Passive Portfolio management

  • Asset Allocation Strategies

Fund Manager Performance Evaluation: Practical Considerations

  • Selection of the Fund Manager

  • Before evaluation of the Fund Manager’s performance

  • Evaluating the Fund Manger’s Performance

  • Investment Performance evaluation tools

  • Fund Manager Performance Reporting to Management

Investment Compliance measurement

  • Analysis of Allowable and non-allowable assets

  • Soundness of Asset Portfolio as is reflected in IPS.

  • Analysis of Asset Concentration

Evaluation of Out-sourced investment portfolio (Asset Managers)

  • Monthly Investment Performance Movement Report per Fund Manager

  • Comparison of entity specific IPS Asset allocation with Fund Manager’s tactical Asset allocation

  • Drawing Observations on:

    • Over-Investments

    • Under-Investments

    • Under-performance

    • Recommendations to Management/ Fund Manager

  • Comparison of two/more Fund Manager Performance

  • Financial Performance Pension Fund

    • FAR (Fund Adequacy Ratio)

    • ROA (Return on Asset)

    • ROI (Return on Investment)

  • Recommendations

Pension Fund Accounts Risk Analysis

  • Risk Assessment and treatment of the following:

    • Concentration risk analysis

    • Divestiture pitfalls

    • Capital Adequacy

    • Solvency Ratios

    • Funding risk

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