By Donald R. Chambers, Mark J. P. Anson, Visit Amazon's Keith H. Black Page, search results, Learn about Author Central, Keith H. Black, , Hossein Kazemi, CAIA Association
The professional CAIA point 1 curriculum book
Alternative Investments: CAIA point I, third version is the curriculum booklet for the Chartered replacement funding Analyst (CAIA) point I specialist exam. protecting the basics of the choice funding area, this booklet is helping you construct a beginning in alternative funding markets. you will glance heavily on the forms of hedge fund suggestions and the variety of records used to outline funding functionality as you achieve a deep familiarity with substitute funding phrases and boost the computational skill to resolve funding difficulties. From technique features to portfolio administration recommendations, this publication comprises the center fabric it is important to be successful at the CAIA point I examination. This up to date 3rd version tracks to the most recent model of the examination, and is observed through the next ancillaries: a workbook, learn advisor, studying goals, and an ethics handbook.
Most funding analyst education schemes concentration totally on the conventional asset sessions, pushing replacement investments to the sidelines. The CAIA designation was once built in accordance with the large development of different making an investment, and is the industry's prime academic ordinary. This publication is your authentic learn significant other, bringing you absolutely on top of things on every thing you want to comprehend (with the exception of the ethics fabric coated in a separate handbook).
- Understand the complexities of every substitute asset class
- Learn the quantitative suggestions pros use each day
- Dig into the original elements of other investments
- Master the middle fabric lined via the CAIA point I exam
More than three hundred monetary associations and hedge cash have devoted key executives to the CAIA examination, and this speedily becoming development speaks to the designation's emerging prestige as vital credential for an individual within the substitute funding sphere. raise your possibilities of luck by means of getting your details immediately from the resource in CAIA point I.
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Additional info for Alternative Investments: CAIA Level I
For example, hedge funds (but not their managers) are often less regulated and typically must be formed in particular ways to avoid higher levels of regulation. Taxation is What Is an Alternative Investment? 2. 3. 4. 5. 11 another important feature of government influence that can motivate the existence of some investment products and plays a major role in the transformation of underlying asset cash flows into investment products. Securities structure refers to the structuring of cash flows through leverage and securitization.
The simplest and most common example of a structured product is the creation of debt securities and equity securities in a traditional corporation. The cash flows and risks of the corporation’s assets are structured into a lower-risk fixed cash flow stream (bonds) and a higher-risk residual 8 INTRODUCTION TO ALTERNATIVE INVESTMENTS cash flow stream (stock). The structuring of the financing sources of a corporation creates option-like characteristics for the resulting securities. Collateralized debt obligations (CDOs) and similar instruments are among the best-known types of structured products.
Thus, an investment program with an absolute return strategy seeks positive returns unaffected by market directions. An example of an absolute return investment fund is an equity market-neutral hedge fund with equal-size long and short positions in stocks that the manager perceives as being undervalued and overvalued, respectively. The fund’s goal is to hedge away the return risk related to the level of the equity market and to exploit security mispricings to generate positive returns. A relative return standard means that returns are to be evaluated relative to a benchmark.
Alternative Investments: CAIA Level I by Donald R. Chambers, Mark J. P. Anson, Visit Amazon's Keith H. Black Page, search results, Learn about Author Central, Keith H. Black, , Hossein Kazemi, CAIA Association