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UCIs Fund Accounting - Mastering the calculation and control of performance fees

Investment Funds

In collaboration with:

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Description

Objectives

By the end of this course, you will have a good understanding of:

  • the different methods of calculating performance fees (Models, High Water Mark, Carry Forward Loss, Hurdle Rate, Benchmark)

  • operational risks, crystallisation and issues relating to performance fees

  • the fundamental principles of performance fee equalisation methods (series, equalisation)

Programme

  • Examples of prospectuses

  • Examples of calculations

  • The rationale behind the performance fee as a method of calculating (part of) the management fee

  • The risks associated with unfair/abusive use or miscalculation of the fee

  • Odyssey of the performance fee:

                 1. Design and controls

      • who wants what, how and when - The product

      • the different elements (Definition of the concepts of ‘hurdle rate’, ‘High water Mark’, crystallization).

                2. Development and testing/controls

                3. Operational life/operations and controls

      •  calculations

      • (methods of) payment

                4. Events in the life of the product and controls

      •  events ((merger of share classes/sub-funds - change of jurisdiction of the UCI - changes in the calculation method (change in design - change in interpretation - change in calculation formula) etc ))

      • setting up procedures for change and controls

  • The future of performance fees/trends

Conditions

Course Material

Please note that for environmental reasons no paper version of the training material will be provided for your training. The course material can be downloaded free of charge via your portal before the start of the course (download the Client Portal User’s Guide here). You will be able to view it on the screen of your mobile device or print it if necessary. If your registration has been made by a training manager of your company please contact him/her so that he/she can give you access to it or send it to you.

Exam

An optional examination is available for this course. If they are interested, candidates can choose a date from the list of examination sessions on offer. Candidates must register for the examination at least five days before the chosen date. The examination is subject to a registration fee.

Certificate

At the end of the course, participants can download a certificate of attendance via their House of Training customer portal.

Location
Chambre de Commerce Luxembourg
7, rue Alcide de Gasperi
L-1615 Luxembourg
Luxembourg
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