Investment Fund Operations & Administration

Euromoney Learning Solutions

How long?

  • 3 days
  • online, in person

Euromoney Learning Solutions


Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

Read more about Finance

Finance is an integral and most important component of any business, so everyone needs to improve their competence in this area. Finance courses will ...

Read more about Marketing

Marketing courses will plunge you into the vast field of marketing. In these courses, you will learn a variety of topics that cover each stage of runn...

Read more about Operations

Operations management has recently become a crucial part of any company's framework. This complex process focuses on reducing organizational expenses ...


Comprehensive course analysis

Unbiased reviews from past participants
Global companies alumni of this course worked for
Positions of participants who took this course
Countries where most past participants are from
Individual needs analysis

Who should attend

  • Operations supervisor or manager
  • Compliance manager
  • Risk manager
  • Fund administrator
  • Fund services relationship manager
  • Hedge fund administrator
  • Software provider or consultant
  • Custodian Finance and administration
  • Audit and supervision Regulators

About the course

Improve your knowledge of how funds are managed and administered.

Investment Fund Operations & Administration is a highly practical three-day course designed to give you a thorough working knowledge of how unit trusts, mutual funds, pensions funds and hedge funds are constructed, invested, managed and administered.

Combining presentations, group discussions and practical exercises, the course covers in detail a broad range of topics including:

  • All types of assets - including alternative, illiquid and volatile assets
  • Comparative fund types, structures, and legal aspects
  • Understanding benchmarks, mandates, investment objectives and constraints Pricing and valuation
  • Reporting & compliance - valuation, reconciliation and settlement
  • Registrar and transfer agency services
  • International client services
  • Client reporting: customised reporting, multi-currency/instrument reporting, and tax reporting
  • Compliance, tax and anti-money laundering issues

Why should you attend this course?

  • Equip yourself with a clear understanding of how and why funds are established, the nature and impact of investment decisions, pricing and valuation, related activities such as portfolio balancing and performance measurement and how these processes affect operational, compliance, reporting, and other administration procedures
  • Examine a wide range of fund types, their characteristics, operation and administration features, including: mutual funds and unit trusts, pension fund, hedge funds and FOFs, real estate funds, venture capital funds, money market funds
  • Enhance your market knowledge not only of traditional investment products such as bonds, equities and money market products, but also of more complex products such as derivatives, CDOs, structured products, exchange traded funds, real estate, private equity, commodities and any related structures such as SPVs, SIVs etc.
  • Increase your confidence in controlling fund administration procedure, accurate pricing, valuation and best execution skills
  • Refine your skills in the correct legal and compliance procedures, and confidence in liaising with fund managers, investors, sponsors, fund services providers, custodians, and regulators


Day 1

Session 1

Investing Fundamentals and Asset Classes

  • The current investment environment
  • Introduction to investing asset characteristics and asset allocation
  • Asset Classes
  • Securities, Derivatives, Alternatives etc.
  • Current investment environment – trends, economic environment, etc
  • ETFs
  • Multi-Asset Class
  • Exercise: Participants look at a typical Fund fact sheets and discuss and in groups discuss the assets required to build the fund and the likely challenges to Fund Operations and Administration.

Investment Fund Types

  • Retail and non-retail funds
  • Off-shore vs domestic funds
  • SICAV in France and Luxembourg
  • Mutual Funds and Unit Trusts (OEICs in the UK)
  • Collective Investment Schemes
  • ETFs (Exchange Traded Funds)
  • Hedge Funds
  • Private Equity Funds
  • The New APAC Funds Are Coming!
  • ASEAN - Collective Investment Schemes (Singapore, Malaysia, China)
  • MRF - Mutual Region of Funds (HK and China)
  • ARFP – Asia Region Funds Passport (Australia, Japan, South Korea, New Zealand, Thailand)
  • Exercise: Participants are asked to list the type of funds that they are currently supporting and give feedback on what new types of fund they are expecting to see in the near future.

Session 2

The Asset Management Life Cycle - Asset Manager to Administration

  • ACD Asset Manager
  • Role of the front, middle and back office
  • How do investment managers make decisions?
  • Asset allocation switches, stock selection (buy/sell orders), active investment strategies
  • Role of the dealers
  • Role of the administration team, corporate actions, valuation, accounting, custody etc.

The Fund Administration Map

  • Board
  • Investment Manager
  • Transfer Agent
  • Fund Administrator
  • Custodians
  • Depository

  • Exercise: Complete the Fund Administration Map. In groups delegates complete a flow diagram of which organisations handle which role, and how they interact.

The Fund Administration Process

  • Roles and responsibilities
    • Defining the responsibilities of each player involved in the overall administration of the fund
    • Trade Processing
    • Subscriptions / Redemptions
    • Underlying Fund Investments
    • Trade Errors
  • Valuation
    • MTM (Mark to Market)
    • NAV
    • reconciliation
    • settlement
  • Managing your relationship and communication with:
    • investment managers
    • brokers / prime brokers / advisors
    • custodians / depository
    • fund sponsors
    • trustees
    • investors

Exercise: Teams draw flow diagrams highlighting how settlement will occur in securities and derivatives trading. What can go wrong?   Day 2

Session 3

Operation of a Fund

Valuation / accounting team (NAV)

  • Transaction capture
  • Validation
  • Reconciliations
  • Position management
  • Cash flows and Cash Management
  • Corporate actions
  • STP and SSIs
  • Margin calls
  • Collateral management
  • Valuation policies, transparency and disclosure
  • Relevant Regulatory, Industry and Accounting Standard
  • Price Information and Automation

Exercise: Delegates calculate the NAV of a fund

What actions are required in dealing with:

  • AGM decisions
  • Mergers/takeovers
  • Corporate actions

Book-keeping for all portfolio transactions

  • When should a position be included in the valuation? i.e. trade date, settlement date, date of receipt of broker confirmation, etc.
  • Is it necessary to receive a broker confirmation prior to recording a transaction handling of fund-to-fund transactions or cross trades

Fund Valuation

Registrar and transfer agency services

  • Maintaining the shareholders' register for the fund
  • issuing certificates
  • amendments to investor details / powers of attorney
  • Dealing with investors
  • Offering documents
  • Subscription and redemption process
  • KYC and AML checks
  • Notifications
  • Potential problems

Global transfer agency function

  • Registrar Function Overview
  • Stock Registrar / Bond Registrar
  • Agent Function

  • Dividend Payments / Cash Dividends / Stock Dividends / Reinvested Dividends Interest Payments Bond Principal / Payments

  • Payment Processing Check

  • Record Keeping / DRIP / Proxy Services / Preferred Stock Calls

Session 4

Role of the Middle Office

  • Control and checks on Funds
  • Control and checks on Fund Managers
  • Collateral Management
  • OTC counterparty exposure monitoring
  • Margin calls
  • Pricing valuation Validation
  • Model inputs
  • Yield Curves and Volatilities
    • Assumptions such as default rates
    • Monte Carlo simulations generated
    • The Greeks
    • VaR

Risk and Compliance

  • Operational Risk Management
    • People / Processes and Controls
    • Risk Review and - Policy Setting
    • Investment Restrictions
  • Bookkeeping
    • Accounting Principles
    • General Ledger
    • Tax – including withholding tax (WHT)
    • Financial statements and management reporting

Role of Compliance – in the fund

Exercise: In groups, participants assess and list the different types of risk a fund may face and consider which internal controls and regulations should exist to ensure the fund is compliant.

Modern Fund Administration - Performance Measurement

  • Benchmarks
  • Alpha and Beta
  • Absolute Return
  • Sharpe Ratio
  • Information ratio Performance Attribution
  • Global Investment Reporting Standards (GIPS)

Today’s Regulatory Impact – What really matters to the World’s Top Fund Administrators

  • UCITS V and the New “KID”
  • Swing Pricing
  • China – RQFII and QDII
  • MiFID 2
  • Solvency 2
    • Impact of Asset “Look Through” on Funds
    • Risk Based Capital Requirement (SCRD)

Final Q & A Session


Mark Doran

Mark worked in Investment Banks including HSBC and Bank of Montreal for nearly 20 years. During this time he worked in Global Custody and then as a trader, running books in FX, bonds and derivatives. Mark has run courses all over the world including Amsterdam, Dublin, London, New York, Hong Kong,...

Videos and materials

Investment Fund Operations & Administration at Euromoney Learning Solutions

From  GBP 2 595$3,715
Add coaching to your course booking

Coaching can personalize and deepen learning for you and your organization.

Something went wrong. We're trying to fix this error.

Thank you for your application

We will contact the provider to ensure that seats are available and, if there is an admissions process, that you satisfy any requirements or prerequisites.

We may ask you for additional information.

To finalize your enrollment we will be in touch shortly.


Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

Read more about Finance

During Finance courses, you will get acquainted with a huge number of financial analyst tools and learn how to work with them. So, you will learn how to make and analyze financial reporting, calculate the main financial indicators of the company and ...

Read more about Marketing

During Marketing courses, you will learn how to develop a business idea and create the right website to promote your product. You will gain the skills to analyze your business performance and make key decisions that improve the efficiency of your bus...

Read more about Operations

When it comes to operations control, whether you’re trying to optimize workflow or marketing and sales operations, you need to impact as many variables at once as possible in order to have a greater effect. However, it's not always that easy. How sho...

Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.

We are happy to help you find a suitable online alternative.