Analysis of High-Yield Bonds from Investment Management Perspective

Agenda Program Online
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Available exclusively as online training
Price of online training
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Attend this training course and learn about:

High Yield Instruments and Markets
High Yield Valuation
High Yield Risk Analysis
High Yield as an Asset Class
High Yield Fund Products
Course Description

This course is designed to give an introduction to High Yield Bond markets, instruments and their role in the context of client portfolios. Participants will learn about current High Yield market trends, learn the valuation basics and risk management issues typically arising from High Yield exposures.

Target Audience

Junior to intermediate portfolio managers, security analysts, risk managers, sales and relationship managers, product developers, risk managers and institutional investors.

Program of the seminar: Analysis of High-Yield Bonds from Investment Management Perspective

The seminar timetable follows Central European Time (CET).

09.00 - 09.15 Welcome and Introduction

09.15 - 12.15

High Yield Instruments

  • Single-Bonds
  • Mutual funds and ETF
  • Structured Credit Instruments

High Yield Markets

  • Market Structure
  • Participants
  • Past, Present & Future
  • Liquidity Aspects

High Yield Valuation

  • Credit spreads
  • Factors affecting credit spreads

12.15 - 13.15 Lunch Break

13.15 - 17.00

High Yield Risk Analysis

  • Historical Default and Recovery Rates
  • Rating Migration and Credit Quality Correlation
  • Modelling Bond Rating Changes for Credit Risk Estimation
  • Currency Risk of High Yield

High Yield as an Asset Class

  • The High Yield and Investment Grade Bond Mix
  • High Yield and Equity: Similarities and Differences
  • High Yield in the context of a Strategic Asset Allocation
  • Tactical Allocation with High Yield
  • Specifics of HY credit in developed and emerging markets

High Yield Fund Products

  • Mutual funds
  • ETF

Termination of the seminar

Training catalogue in PDF
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