Description
CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion for ethical behavior in investment markets and a respected source of knowledge in the global financial community. The end goal: to create an environment where investors’ interests come first, markets function at their best, and economies grow. CFA Institute has more than 155,000 members in 165 countries and territories, including 150,000 CFA(r) charterholders, and 148 member societies. For more information, visit www.cfainstitute.org. Part I Learning Objectives, Summary Overview, and Problems 1 Chapter 1 Professionalism in the Investment Management 3 Learning Outcomes 3 Summary 3 Practice Problems 4 Chapter 2 Fintech in Investment Management 5 Learning Outcomes 5 Summary 5 Practice Problems 6 Chapter 3 Capital Market Expectations, Part 1: Framework and Macro Considerations 9 Learning Outcomes 9 Summary 10 Practice Problem 13 Chapter 4 Capital Market Expectations, Part 2: Forecasting Asset Class Returns 21 Learning Outcomes 21 Summary 22 Practice Problems 25 Chapter 5 Overview of Asset Allocation 35 Learning Outcomes 35 Summary 35 Practice Problems 37 Chapter 6 Principles of Asset Allocation 39 Learning Outcomes 39 Summary 40 Practice Problems 41 Chapter 7 Asset Allocation with Real-World Constraints 51 Learning Outcomes 51 Summary 51 Practice Problems 53 Chapter 8 Currency Management: An Introduction 63 Learning Outcomes 63 Summary 63 Practice Problems 66 Chapter 9 Overview of Fixed-Income Portfolio Management 79 Learning Outcomes 79 Summary 79 Practice Problems 81 Chapter 10 Liability-Driven and Index-Based Strategies 87 Learning Outcomes 87 Summary 87 Practice Problems 91 Chapter 11 Overview of Equity Portfolio Management 101 Learning Outcomes 101 Summary 101 Practice Problems 102 Chapter 12 Passive Equity Investing 105 Learning Outcomes 105 Summary 105 Practice Problems 107 Chapter 13 Active Equity Investing: Strategies 113 Learning Outcomes 113 Summary 113 Practice Problems 115 Chapter 14 Hedge Fund Strategies 121 Learning Outcomes 121 Summary 121 Practice Problems 124 Chapter 15 Overview of Private Wealth Management 131 Learning Outcomes 131 Summary 131 Practice Problems 133 Chapter 16 Topics in Private Wealth Management 141 Learning Outcomes 141 Summary 141 Practice Problems 144 Chapter 17 Portfolio Management for Institutional Investors 151 Learning Outcomes 151 Summary 152 Practice Problems 155 Chapter 18 Trade Strategy and Execution 163 Learning Outcomes 163 Summary 163 Practice Problems 165 Chapter 19 Portfolio Performance Evaluation 175 Learning Outcomes 175 Summary 176 Practice Problems 177 Chapter 20 Investment Manager Selection 181 Learning Outcomes 181 Summary 181 Practice Problems 183 Part II Solutions 199 Chapter 1 Professionalism in the Investment Management 201 Solutions 201 Chapter 2 Fintech in Investment Management 203 Solutions 203 Chapter 3 Capital Market Expectations, Part I: Framework and Macro Considerations 205 Solutions 205 Chapter 4 Capital Market Expectations, Part II: Forecasting Asset Class Returns 211 Solutions 211 Chapter 5 Overview of Asset Allocation 219 Solutions 219 Chapter 6 Principles of Asset Allocation 221 Solutions 221 Chapter 7 Asset Allocation with Real-World Constraints 229 Solutions 229 Chapter 8 Currency Management: An Introduction 235 Solutions 235 Chapter 9 Overview of Fixed-Income Portfolio Management 249 Solutions 249 Chapter 10 Liability-Driven and Index-Based Strategies 253 Solutions 253 Chapter 11 Overview of Equity Portfolio Management 259 Solutions 259 Chapter 12 Passive Equity Investing 263 Solutions 263 Chapter 13 Active Equity Investing: Strategies 267 Solutions 267 Chapter 14 Hedge Fund Strategies 273 Solutions 273 Chapter 15 Overview of Private Wealth Management 283 Solutions 283 Chapter 16 Topics in Private Wealth Management 291 Solutions 291 Chapter 17 Portfolio Management for Institutional Investors 299 Solutions 299 Chapter 18 Trade Strategy and Execution 305 Solutions 305 Chapter 19 Portfolio Performance Evaluation 315 Solutions 315 Chapter 20 Investment Manager Selection 319 Solutions 319 About the CFA Program 333
