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CATÓLICA LISBON SCHOOLOF BUSINESS & ECONOMICSPalma de Cima, 1649-023 LISBOA

Tel. 217 214 220 | 217 227 801Fax. 217 270 252Email. executivos@ucp.pt

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FIXEDINCOME

Católica Lisbon School of Business & Economics is ranked among Europe’s Top 25 Business Schools.Consistently ranked the Best Business Schools in Portugal. Triple Crown Accredited.

FIXED INCOMEPROFILES AND STRATEGIES:A DEEPER ANALYSIS

FIXED INCOME

The course requires that candidates should already have a general background / understanding on the topics covered or a relevant market experience in order to fully benefit of all sessions.

POTENTIAL CANDIDATESON COMPLETION, STUDENTS

SHOULD BE ABLE TOGiven the environment described earlier, this course aims a return to the basics of modeling and risk measurement for the fixed income instruments. Participants are required to acquire a theoretical background in terms of the different profiles of payout that are offered by this class and also a practical view of the decision-making process associated with investment decisions. In that sense, after each theoretical session, participants will be challenged to model the relevant investment spectrum and, based on that, to implement trading strategies with a specific limit for potential losses (Value-at-Risk methodology).

The current financial crisis is leading to a profound change in terms of the risk analysis for all market participants. In that sense, regulators are preparing a new set of rules which are expected to minimize the potential impact on balance-sheets of business and economic cycles.

For banks, Basel III represents a significant challenge since it is going to require a deeper understanding of price risk, default probability and loss given default in order to mitigate capital and liquidity needs.

FIXED INCOME PROFILES AND STRATEGIES: A DEEPER ANALYSIS

For insurance companies, Solvency II will mean a convergence between actuarial practices and mark-to-market valuation with direct impact, again, on capital and forcing to an ALM exercise (assets versus liabilities management).

Finally, for asset-managers and small investors, the on-going process of monitoring required on a portfolio strategy implies a wider knowledge of the current market dynamics, especially after the latest developments due to financial innovation.

TESTIMONIES“It was a huge help for my daily work and largely exceeded my initial expectations”

Bernardo d’Aguiar FrazãoIGCP, EPE - Senior Trader

“This program is essential for all market intervenients to understand how financial instruments develop, how they interact and thus perceive their risk in a global and complete way.”

Maria Fontes EDP Renováveis - Investor Relations

“Through structured learning, participants have the opportunity to put theory into practice, expressing market views in the creation of a virtual portfolio.”

Cymron Bancil Banco Atlântico - Capital Markets Director

INFORMATION:

VENUELisbon, Portugal

The registration fee includes all teaching materials (including books, manuals and other supporting documentation), coffee- -breaks, lunches and dinner during the closing session.The fee does not include airplane tickets and lodging.

DATEApril 7th to July 7th 2017

FEE ¤ 2500

CALENDARFridays and Saturdays from 9:30am to 4:30pm

DURATION48,5 HOURS

FACULTY

JOÃO PINHÃO Currently works for BNP Paribas as Head of Fixed Income Sales in Portugal. M.B.A. in Finance from Universidade Católica.

JONI KOKKONEN Holds a PhD and an MSc in Finance from Aalto University (formerly Helsinki School of Economics).

JOSÉ ALZOLA Senior European Analyst at The Observatory Group. MA in Economics from the University of Chicago. He also has a degree in investment management from the London Business School.

NUNO CAETANO Senior Credit Analyst and Porfolio Manager at Invesco. MsC in Corporate Finance from CATÓLICA-LISBON.

OLIVIER RENAULT Head of Structuring & Advisory at Stormharbour Securities in London. Has a PhD in quantitative finance from the University of Louvain and a Masters from Warwick University.

STEPHEN REID Senior bond trader at Citigroup. Holds a MA in Economics from Cambridge University and a MSc from Warwick Business School in Economics and Finance.

PROGRAM STRUCTURE

COORDINATOR

JOAQUIM CADETEHas a Masters Degree in Monetary and Financial Economics from Instituto Superior de Economia e Gestão and a degree in Economics from Universidade Católica Portuguesa.He was Director for Citigroup Global Markets Limited between 2000 and March 2011, with direct responsibility for Portuguese institutional investors on all structured products. Before that, he worked for ABN AMRO N.V. as a member of the Fixed Income Research Team, with a special focus on relative value across Euroland. Alongside, he teaches in different programs and he is on of the Academic Directors of the Master in Finance at CATÓLICA-LISBON, both in Graduate Programs and Executive Education Courses. He is currently one of the managing partners of Rockbridge Advisors, an independent advisory firm.

GOVERNMENT BONDS, REPOS AND FUTURESJoaquim Cadete, José Alzola

INFLATION-LINKED BONDS AND INFLATION SWAPSStephen Reid

TRAINING SESSIONS Joaquim Cadete

SWAPS, FORWARD STARTING SWAPS AND SWAPTIONSJoaquim Cadete

CORPORATE BONDSJoni Kokkonen

MANAGEMENT OF A LONG CREDIT PORTFOLIONuno Caetano

CREDIT RISK OUTLOOK / TRADING SESSIONJoão Pinhão

TRAINING SESSIONS Joaquim Cadete

CREDIT DEFAULT SWAPS AND STRUCTURED CREDIT TRADINGJoão Pinhão

PORTFOLIO CONSTRUCTION ANALYSISJoaquim Cadete

AN INTRODUCTION TO TRANCHED CREDIT PRODUCTSOlivier Renault

TRAINING SESSION / TRADING DAY Joaquim Cadete

OVERALL PERFORMANCE DAYJoaquim Cadete

5,5H

3,5H

8H

5,5H

3,5H

1H

1H

6H

3,5H

2H

3,5H

2H

3,5H

REUTERSThe monitoring of the performance of each trading strategy will be done, given real market moves, through the Thomson Reuters Eikon terminal. Participants will have training, provided by Reuters, on how to use a terminal and how to book each trading position. Finally, performance correlation among participants will be also monitored in order to stimulate creativity.

APPLY NOW

CATÓLICA LISBON SCHOOLOF BUSINESS & ECONOMICSPalma de Cima, 1649-023 LISBOA

Tel. 217 214 220 | 217 227 801Fax. 217 270 252Email. executivos@ucp.pt

Learn

Experience

Perform

ConnectSucceed

Unleash yourfull potential

PARTNER:

Unleash yourfull potential WWW.CLSBE.LISBOA.UCP.PT/EXECUTIVOS

FIXEDINCOME

Católica Lisbon School of Business & Economics is ranked among Europe’s Top 25 Business Schools.Consistently ranked the Best Business Schools in Portugal. Triple Crown Accredited.