PURPOSE

To present techniques and modern instruments for evaluation of investments in funds available in Brazil and instruments for fund business management.

 MAIN TOPICS

. The Brazilian funds industry: regulation and types of funds
. Grouping of funds and construction of peer group
. Style analysis based on return
. Analysis of funds that outperform their benchmarks
. Backtest and stress test
. Portfolio of funds
. Comparison with traditional investments: stocks, CDB and savings
. Construction of a preliminary due diligence report
. Performance of national investment funds and neutral portfolio
. Equity Styles adopted in Brazil
. Business strategies
. Explanation for returns from a fund: aggressiveness, selectivity and timing
. Independent managers in Brazil
. Impact of derivatives on investment funds
. Indicators: IS, ISG, Treynor, alpha, IVA and M2
. Investment indexes available in Brazil
. Special indexes
. Measures of fund return and fund risk
. Risk models
. Standards for presentation of funds in Brazil
. Investment policy, leveraging, tracking error and performance rate
. Ranking and construction of an internal fund rating system
. Funds follow-up report
. Systematic and non-systematic risk of a fund
. Script for selection of outside manager
. Types of funds
. A script for using performance indexes