Investment Fund Operations & Administration

3 days 6-8 Nov 2017, London UK £3,645.00 + VAT* Download brochure Add to basket

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A 3-day highly practical course which provides a working knowledge of how unit trusts, mutual funds, pensions funds and hedge funds are constructed, invested, managed and administered.

Featuring practical in-depth coverage of:

  • 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 Attend

The course is designed to equip delegates 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.

The course covers 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.

The course also provides delegates with an enhanced 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.

By the end of the course, delegates will have greater confidence in controlling fund administration procedure, accurate pricing, valuation and best execution skills, greater assurance of the correct legal and compliance procedures, and confidence in liaising with fund managers, investors, sponsors, fund services providers, custodians, and regulators.


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



We work with a series of expert instructors, please select the course location of interest to review the credentials of who will be delivering the programme.

David Loader

The course director has been involved in the financial markets for over 30 years during which time he has worked in a variety of roles within fund management, operations, and investment banking.

His experience covers both front office and operations functions, having held positions as Director of S.G.Warburg Securities Ltd, Operations Director of Warburg Futures & Options Ltd and Director Exchange Traded Derivatives at SBC. He now specialises in training and consultancy in the area of fund administration and operations, settlement, custody, operational risk and subjects related to securities and derivatives trading and investment.

The course director works with clients in the United Kingdom and Channel Islands as well as internationally in Singapore, Malaysia, Belgium, France, The Netherlands, Austria, Germany, Gibraltar, Malta, Cyprus, Monaco, Lebanon, Abu Dhabi, Kuwait, Dubai, Bermuda, Panama, India, Mauritius, The Seychelles, Switzerland, USA, India, Australia and Ireland.

He is also the author of many finance and investment textbooks published by Wiley, Elsevier and The Securities & Investment Institute. He is a member of Worshipful Company of International Bankers, The Securities and Investment Institute and the Institute of Directors.



Central London Hotel Venue

All courses are held at four or five star venues in Central London, Zone 1. We strive to provide you with a training environment of the highest quality, to ensure that the whole learning experience exceeds your expectations.

Your training venue will be confirmed by one of our course administrators approximately 3-4 weeks before the course start date.

Related Courses



Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company's exact requirements? If you'd like to do either of these, we can bring this course to your company's office. You could even save up to 50% on the cost of sending delegates to a public course.

To find out more about running this course in-house:

Our Tailored Learning Offering

If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.

We produce learning solutions that are completely unique to your business. We'll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.


We can offer any of our public courses delivered at your office or we can devise completely tailored solutions:

Read more about our offering or complete a call back request to speak to a learning specialist.


Day 1
Explanation of the course team exercise – analyzing the impact of a new fund business proposal on the administration provider
Introduction to Investment & Investment Funds


  • The investment environment today and key influences on investment 
    - Brexit, US Presidential Election, Emerging markets etc 
  • Types of fund – securities, alternative investment funds (property, hedge, private equity), other funds 
  • The concepts of investment strategy and risks 
  • Discussion of News items that might impact on investment and fund performance 
  • Asset characteristics and asset allocation 
    - Securities 
    - Derivatives 
    - Other types of assets 
  • The regulatory environment for investment funds 
    - Retail and non-retail funds 
    - Regulated and unregulated funds 
    -Examples of the regulatory environment

Setting Up a Fund 

  • Key stages and requirements in setting up a fund 
  • Key players and their roles 
    - Promoters 
    - Investment managers and advisers 
    - Management companies 
    - Governance 
    - Secretary 
    - Custodian/depositary 
    - Administration 
  • The Offering documents

Overnight Exercise – creating a portfolio and offering documents

Day 2
Discussion of news items and review of the Overnight Exercise

Operation of the Fund – Overview 

  • High level overview of the fund process

Operation of the Fund – Part 1 -The transfer agency role 

  • Dealing with investors 
  • Offering documents 
  • Subscription and redemption process 
  • KYC and AML checks 
  • Notifications 
  • Potential problems

Operation of a Fund – Part 2-operations team 

  • Role of the operations team 
  • Communication with the investment manager and broker/prime broker/advisers 
  • Communications with the Custodian/Depositary 
  • Communication with the valuation & accounting team 
  • Stages in the portfolio process 
    - Transaction capture 
    - Validation 
    - Posting 
    - Reconciliations 
    - Position management 
      - Cash flows 
      - Corporate actions 
      - Margin calls 
      - Collateral management 
  • Potential problems


Day 3
Operation of the Fund – Part 3 Valuation and Accounting Team


  • Role of the valuations and accounting team 
    - Easy and difficult to value assets 
    - NAV structure, purpose and calculations 
    - Creating the Pricing Policy 
    - Pricing Errors and Problems 
    - Fees 
       - Initial Fees 
       - Management Fees 
       - Service Fees 
       - Performance Fees and Carried Interest 
       - Equilisation 
    - Accruals – expenses and income 
  • Bookkeeping 
    - Accounting Principles 
    - General Ledger 
    - Tax – including withholding tax (WHT) 
    - Financial statements and management reporting

Operation of the Fund – Part 4 Risk and Compliance 

  • Role of Compliance – in the fund 
    - Regulatory 
    - Internal policies 
  • Role of compliance in fund administration 
    - Regulatory 
    - Internal policies 
    - Service provision 
  • Procedure documentation and audit trails 
  • Role of risk management for the fund and administrator 
    - Market risk 
    - Counterparty/credit risk 
    - Operational risk 
    - Risk management frameworks 
       - Identifying risk 
       - Measuring risk 
       - Control framework 
       - KRIs & KPIs 
       - Structure of a risk event 
       - Managing a risk event 
       - Problems and impacts

Closing exercise – presenting the analysis of the impact of a new fund business proposal on the administration provider

Why us

We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:

  • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
  • Track record – we have delivered training solutions for 95% of worlds’ top 100 banks and have trained over 250,000 professionals.
  • Knowledge – our 150 strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
  • Reliability – if we promise it, we deliver it. We have delivered over 20,000 events both in person and online, using simultaneous translation to delegates from over 180 countries.
  • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 96% on service and 95% on product