Introduction to Hedge Funds
May 14, 2012, NYC (Location)
Registration Fee: US$895.00 Register Instructor
Many classes sell out; we suggest registering at least one week in advance to ensure availability.
Beginner/Intermediate Level, 7 CPE Credits
Instructor: Guy Haselmann
Hours: 9:00 am - 5:00 pm; Registration/Breakfast begins at 8:30 am
Location: Bayards, One Hanover Square, (Financial District)
Since the birth of hedge funds in 1949, the concept has not only grown geometrically, it has changed its very purpose. There is an ever increasing interest from entrepreneurs, trading professionals, investors and regulators. This one day program covers the environment in which these funds operate. We focus on the purpose, structure, strategies, revenues and regulatory oversight.
Course Outline
What is a Hedge Fund?
- Definition
- Current perspective
-History
-Misconceptions
-Growth
-Trends
Hedge Fund Infrastructure
- Legal structure
- Offering documentation
-Limited Partnership Agreement (LPA)
-Private Placement Memorandum (PPM)
-Subscription documents
-Blue Sky filings
- 3rd Party Service Providers
-Accounting / Audit
-Administrator
-Compliance
-Legal
-Marketing
-Prime broker
- Trading tools
-Algorithmic
-Order /Execution management
-Portfolio management
- Fund of Funds
-Purpose
-Difference from hedge funds
Investors
- Qualified Institutional Investors (QIB)
- High Net Worth Individuals
- Restrictions
Hedge Fund investment strategies
- Event driven
- Relative value
- Long / Short
- Tactical
- Location
- Multiple strategy
Revenues
- Management
- Performance
- Hurdles
- Targets
The Regulators & Regulations
- Securities and Exchange Commission
- Commodities Future Trading Commission
- U S Treasury (Fincen)
- State Securities Regulators
Risks
- Common risk factors
-Counterparty
-Investor
-Leverage
-Liquidity
-Operational
-Technology
-Valuation
- Response / Mitigation alternatives
-Adopt best practices
-Business Continuity (BCP)
-Compliance
-Internal / external audit
Due Diligence
- Check list
-Compliance
-Fund documentation
-Fund structure
-Investor
-Operations
-Service providers
-Strategy
-Structure of entities
ADV form I and II - registration
- Regulatory discipline reports
Case Study