Investor Education and Protection Fund

The Central Government notified the establishment of a Fund called the Investor Education and Protection Fund with effect from October 1, 2001. The fund shall be credited with:

(a) Amounts in the form of unpaid dividend accounts of companies,
(b) Application moneys received by companies for allotment of any securities and due for refund,
(c) Matured deposits with companies,
(d) Matured debentures with companies,
(e) The interest accrued on the amounts referred to above (a to d), The Investor Education and Protection Fund will be utilized for promotion of awareness amongst the investors and for the protection of the interests of investors in accordance with such rules as may be prescribed.

Provision for a member to act as a principal in stock market

A member of a recognized stock exchange shall not in respect of any securities enter into any contract as a principal with any person other than a member of a recognized stock exchange, unless he has secured the consent or authority of such person and discloses in the note, memorandum or agreement of sale or purchase that he is acting as a principal.

Illegal or void contracts in stock market

If SEBI is satisfied, having regard to the nature or the volume of transactions in securities in any State or area that it is necessary so to do, it may, by notification in the Official Gazette, declare this section to apply to such State or area, and thereupon every contract in such State or area which is entered into after date of the notification otherwise than between members of a recognized stock exchange in such State or area or through or with such member shall be illegal.

Suspension of business on a stock exchange in india

SEBI may direct a recognized stock exchange to suspend such of its business for such period not exceeding seven days and subject to such conditions as may be specified in the notification. If SEBI is of the opinion that the interest of the trade or the public interest requires that the period should be extended, it may, by like notification, extend the said period from time to time.

Suspension of the Governing body of a stock exchange in india

If SEBI is of the opinion that the governing body of any recognized stock exchange should be superseded, it may serve on the governing body a written notice in this regard specifying the reasons. After giving an opportunity to the governing body to be heard in the matter, SEBI may, by notification in the Official Gazette declare the governing body of such stock exchange to be superseded. It may appoint any person or persons to exercise and perform all the powers and duties of the governing body, and, where more persons than one are appointed, may appoint one of such persons to be the chairman and another to be the vice-chairman thereof.

Contravention of bye-laws in stock market

The bye-laws made under this section may specify the bye-laws, the contravention of which shall make a contract entered into otherwise than in accordance with the byelaws void and provide that the contravention of any of the bye-laws shall render the member concerned liable to fine, expulsion from membership, suspension from membership for a specified period, or any other penalty of a like nature not involving the payment of money.

Bye-Laws of the Stock Exchanges in india

A recognized stock exchange may, subject to the previous approval of SEBI, make byelaws for the regulation and control of contracts.

Such bye-laws may provide for:
(a) The opening and closing of markets and the regulation of the hours of trade,
(b) A clearing house for the periodical settlement of contracts and differences there under, the delivery of and payment for securities, the passing on of delivery orders and the regulation and maintenance of such clearing house,
(c) The submission to SEBI by the clearing house as soon as may be after each periodical settlement of all or any of the following particulars as SEBI may, from time to time require, namely:

(i) The total number of each category of security carried over from one settlement period to another.
(ii) The total number of each category of security, contracts in respect of which have been squared up during the course of each settlement period.
(iii) The total number of each category of security actually delivered at each clearing;
(d) The publication by the clearing house of all or any of the particulars submitted to SEBI under clause
(e) Subject to the directions, if any, issued by SEBI in this behalf,
(f) The regulation or prohibition of blank transfers,
(g) The number and classes of contracts in respect of which settlements shall be made or differences paid through the clearing house,
(h) The regulation, or prohibition of badlas or carry-over facilities,
(i) The fixing, altering or postponing of days for settlements,
(j) The determination and declaration of market rates, including the opening, closing, highest and lowest rates for securities,
(k) The terms, conditions and incidents of contracts, including the prescription of margin requirements, if any, and conditions relating thereto, and the forms of contracts in writing,
(l) The regulation of the entering into, making, performance, rescission and termination, of contracts, including contracts between members or between a member and his constituent or between a member and a person who is not a member, and the consequences of default or insolvency on the part of a seller or buyer or  intermediary, the consequences of a breach or omission by a seller or buyer, and the responsibility of  members who are not parties to such contracts,
(m) The regulation of taravani business including the placing of limitations thereon,
(n) The listing of securities on the stock exchange, the inclusion of any security for the purpose of dealings and the suspension or withdrawal of any such securities, and the suspension or prohibition of trading in any specified securities,
(o) The method and procedure for the settlement of claims or disputes, including settlement by arbitration,
(p) The levy and recovery of fees, fines and penalties,
(q) The regulation of the course of business between parties to contracts in any capacity,
(r) The fixing of a scale of brokerage and other charges,
(s) The making, comparing, settling and closing of bargains,
(t) The emergencies in trade which may arise, whether as a result of pool or syndicated operations or cornering or otherwise, and the exercise of powers in such emergencies including the power to fix maximum and minimum prices for securities,
(u) The regulation of dealings by members for their own account,
(v) The separation of the functions of jobbers and brokers,
(w) The limitations on the volume of trade done by any individual member in exceptional circumstances,
(x) The obligation of members to supply such information or explanation and to produce such documents relating to the business as the governing body may require.

Revoking of Recognition in share market

SEBI may withdraw recognition if it is in the interest of the trade or in the public interest by serving a written notice on the governing body of the stock exchange in this regard and after giving an opportunity to -the governing body to be heard in the matter.

No person except with the permission of Central Government shall organize or assist in organizing or be a member of any stock exchange (other than a recognized stock exchange) for the purpose of assisting in, entering into or performing any contracts in securities.

Recognition of Stock Exchanges in india

Any stock exchange, which is desirous of being recognized for the purposes of this Act, may make an application in the prescribed manner to SEBI (Section 3). The application shall be filed in the prescribed format along with copies of the byelaws and rules of the stock exchange.

If SEBI and Central Government are satisfied, after making such inquiry as may be necessary in this behalf and after obtaining such further information, if any, as it may require, it may grant recognition to the stock exchange subject to the conditions relating to:

(i) The qualifications for membership of stock exchanges,

(ii) The manner in which contracts shall be entered into and enforced as between members,

(iii) The representation of SEBI on each of the stock exchanges by such number of persons not exceeding three as SEBI may nominate in this behalf; and

(iv) The maintenance of accounts of members and their audit by chartered accountants whenever such audit is required by SEBI.

Spot delivery contract in share market

"Spot delivery contract" has been defined in Section 2

(i) to mean a contract which provides for-

(a) Actual delivery of securities and the payment of a price therefore either on the same day as the date of the contract or on the next day, the actual period taken for the dispatch of the securities or the remittance of money therefore through the post being excluded from the computation of the period aforesaid if the parties to the contract do not reside in the same town or locality;

(b) Transfer of the securities by the depository from the account of a beneficial owner to the account of another beneficial owner when such securities are dealt with by a depository.

Definition of Security in share market

The term "securities" has been defined in the SCRA. As per Section 2(h), the "Securities' include-

(i) Shares, scrips, stocks, bonds, debentures, debenture stock or other marketable securities of a like nature in or of any incorporated company or other body corporate,

(a) Derivative,

(b) Units or any other instrument issued by any collective investment scheme to the investors in such  schemes,

(ii) Government securities,
(iia) such other instruments as may be declared by the Central Government to be securities, and
(iii) Rights or interests in securities.

Derivative was included in the definition of security in order to bring into place regulation of derivatives in 1999. This helped the development of the derivatives market.

EXCHANGE TRADED FUNDS IN STOCK MARKET

An exchange-traded fund, or ETF, is a type of Investment Company whose investment objective is to achieve the same return as a particular market index. An ETF is similar to an index fund in that it will primarily invest in the securities of companies that are included in a selected market index. An ETF will invest in either all of the securities or a representative sample of the securities included in the index. For example, one type of ETF, known as Spiders or SPDRs, invests in all of the stocks contained in the S&P 500 Composite Stock Price Index.

Exchange traded fund has qualities of an Index fund viz. Constructed to track the Index, Open ended Mutual fund, Low Expense ratio, Low Turnover and also those of a stock viz. Trading flexibility intraday on the exchange, Real time price. Units of exchange traded fund can be bought and sold with cash through trading members on respective stock exchange. The First ETF - SPDR (S&P 500 depository receipts) was
launched in the year 1993.

The role of stock exchange in case of launch of any ETF is Index Licensor. Some of the ETF's traded on BSE SENSEX are SPICE, Kotak MF, etc. Value of one unit of exchange traded fund SPICE (ETF on SENSEX) is typically 1/100th of SENSEX. SPICE was sponsored by Pru ICICIAMC Ltd. Value of one unit of exchange traded fund launched by Kotak MF (ETF on SENSEX) is typically 1/100th of SENSEX.

DEBT MARKET

The Indian debt markets play an important role in the capital formation process. It comprises of two main segments, viz., the government securities market and the corporate securities market, besides a small emerging market for interest rate derivatives.

The market for government securities is the most dominant part of the debt market in terms of outstanding securities, market capitalization, trading volume and number of participants. It sets benchmark for the rest of the market.

Major investors in Debt Market are shown in table Participants and Products in Debt Market. There are two broad methods by which an Indian corporate can raise term debt from the capital market. The first is the private placement market where the issuer invites a select group of qualified institutional investors to subscribe to bonds/debentures issued: The second method is a Public offer where securities are offered to the Public at large including retail investors.

EQUITY & DEBT MARKETS

Markets can also be broadly classified into:

• Equity Market
• Debt Market

Debt markets are currently classified by a large institutional presence, though attempts are being made to attract retail investors. Debt markets trade in Government Securities, Treasury Bills, Corporate Bonds and other debt instruments while Equity markets deal mainly in equity shares and to a limited extent in preference shares and company debentures. Futures and Options in indices and equity shares are of a relatively recent
origin and form part of equity markets.

Learn Portfolio Management Techniques

Portfolio Management Techniques

This program is for those who wish to either begin a career in the financial markets or learn the fundamentals of capital markets. The program is structured to help you understand the basic concepts relating to diverse avenues of investment, the primary and the secondary market, the derivatives market and financial statement analysis.

The principal aim of this course is to develop and enhance participants' skills that are commonly used in asset allocation decision and equity as well as alternative investment management. The course starts of with statistical and theoretical approaches to fund management, asset allocation, investor profiles and behavioral finance applications. The 2nd focuses on equity portfolio management including asset pricing models, portfolio management techniques, indexing strategies and emerging market equities. The last day is dedicated to alternative investments and performance measurement. The last case study will allow participants to use all topics learned during the previous days to evaluate a group of investment portfolios.

• Strengthen your understanding of modern portfolio theory
• Understand the process of building efficient portfolios of bonds, equities and alternative investments
• Know about the importance of behavioral investment biases
• Appreciate the specifics of emerging markets equity portfolio construction
• Gain an insight in alternative investment strategies as portable alpha and the use of derivative strategies
• Learn about performance measurement, evaluation and attribution

Who will benefit from this program?

Students, Fresh Graduates, Individual Investors, Brokers, Sub-brokers, Derivative Traders, Fund Managers, Wealth Managers, Treasury Managers, Portfolio Managers, Investment Bankers, Insurance Agents, Mutual Fund Agents, Housewives, Retired Persons, etc.

Portfolio managers, Equity and fixed income analysts, Wealth managers and private bankers, Independent financial advisors, Back and middle office professionals, Pension fund trustees

Program Contents

Part 1
We begin the course with an introduction to the fundamentals of today’s portfolio management – Modern Portfolio Theory (MPT).  We will explore concepts such as efficient frontier, risk/return trade-offs, the asset allocation process and conclude the day with a look at investor characteristics and new developments in behavioral finance.
Principles of modern portfolio management (1 session)
Introduction and objectives

• Overview of course
• What is Portfolio Management?

Statistical and theoretical approaches to investment management

• Commonly used statistical measures
• Diversification and the creation of efficient frontier  using Markovitz mean variance model
• Risk vs. return trade-off
• Other applications of Modern Portfolio Theory (MPT)
• Essential asset pricing models

Case study – portfolio management decisions
Participants will be given a historical portfolio of common stock, debt securities and other assets and will be asked to calculate related portfolio statistics: expected returns, standard deviation of returns, covariance, correlation coefficients and beta of the assets. Participants will then use this information to construct an efficient portfolio.

The asset allocation strategies; Strategic asset allocation using investors risk tolerance, characteristics and qualities(2 sessions)

• Steps in the portfolio management process
• Analyzing risk and return objectives
• Influence of political and economic factors in determining optimal asset mix
• Types of asset allocation: Fixed, flexible, strategic and tactical asset allocation
• Overcoming greed-fear cycle for rational investment decisions
• Strategic vs. tactical AA
• Investor psyche: overcoming greed-fear hurdle to optimize investors’ returns.
• Measuring investors risk tolerance to decide asset allocation
• The cases for and against international diversification

Case study: strategic asset allocation
Participants will be given a background information for a variety of different investors and asked to design appropriate portfolio mixes.

Exploiting market anomalies and understanding behavioral finance for prudent portfolio management (1 Session)

• The active vs. passive management debate
• Growing importance of Behavioral Finance- Behavioral biases and their implication on portfolio returns.
• Comparing momentum vs contrarian investment strategy using behavioral finance framework
• Forecasting alpha using the Treynor-Black model for security selection

Exercise – the importance of behavioral finance topics
Participants will examine how a series of behavioral investment biases affect optimal investment decisions as defined by MPT. Biases to be evaluated include:

• Frame dependence
• Overconfidence
• Representativeness
• Loss aversion

Part 2

Equity portfolio management is often a critical component of overall investment success since equity securities often represent a significant portion of many investment portfolios.  After a review of equity vital equity valuation techniques, we will discuss the role of equities in an investment portfolio, the major approaches employed to manage equities and conclude with a look at strategies used to manage international and emerging market equity portfolios.
Equity portfolio management
Asset pricing models revisited and equity valuation
General principles (1 session)

• Using the Capital Asset Pricing Model (CAPM)
• Weighted Average Cost of Capital (WACC)
• Fundamental equity valuation
• Multiples analysis

Exercise – using asset pricing models
Participants will answer a series of questions related to applications of CAPM and equity valuation techniques

Equity portfolio management-Active strategies (2 sessions)

• Underlying drivers for use of equity
• Issuer/investor perspectives
• Selecting optimum portfolio using Sharpe’s single index model
• Equity style management
• Security selection approaches: top-down or bottom up
• Establishing relevant benchmarks
• Long-short vs. long-only strategies
• Equitising market-neutral portfolios
• Alpha / Beta separation
• Applications of portable alpha

Exercise – evaluating equity funds
We will review several equity portfolios, discussing relative weightings, sector allocation and other important attributes affecting performance

Equity indexing-Passive strategy  (1 session)

• Weighting schemes of major indices
• Equity index futures and their role
• Index mutual funds
• Exchange-traded funds
• Strategies and benchmarking approaches

International equity portfolio management

• Constructing international equity benchmarks
• Classification issues: Developed, emerging of frontier?
• To hedge or not to hedge FX risk
• Effect of home bias and information advantage

Case study – Emerging markets portfolio construction
Participants will first examine some of the major issues confronting emerging market portfolio construction, including high correlations during crisis, cost of capital computation difficulties, and non-normal return distributions.  Then, groups will prepare a presentation to investors demonstrating the advantages of an emerging market portfolio.

Part 3

Measuring and evaluating Managed portfolio’s performance and exploiting alternative investment strategies for superior portfolio performance
Performance measurement, evaluation and attribution (2 sessions)

• Computing sub-period returns and arithmetic average rates of return
• Time- and dollar-weighted rates of return
• Evaluating portfolio performance using risk adjusted measures.

• Sharpe ratio
• Treynor ratio
• Jenson’ s alpha
• Fama’s net selectivity
• Timing and style based measures

• Overview of GIPS – Global Investment Performance Standards
• Benchmark portfolios and return attribution analysis

Case study: Portfolio performance evaluation and attribution
Case on raking various managed portfolios based on risk adjusted performance and attribution analysis of superior performance

Alternative investment management & strategies (2 sessions)
The alternative investments universe   
        Different investments and their investor characteristics

• Common features of alternative investments
• Special issues for investment managers and advisers

Principal classes of alternative investments including:

• Hedge funds
• Private equity
• Commodities
• Real estate
• Distressed securities

Alternative Investment strategies to create portfolios with superior returns

• Hedge funds strategies
• Key drivers of hedge fund returns
• 130/30 Funds
• Portable alpha strategies
• The risk of hedge funds
• Alpha and beta separation
• Identifying suitable hedge funds
• Core-Satellite programs
• Use of derivative strategies

Exercise: alternative investment analysis
Participants will evaluate different alternative investments and select suitable investors to match various portfolios.

Fees: Rs.10200/- (Inclusive of service tax) per participant inclusive of tuition fees, reference material and     (morning / evening) refreshments only.

Program Coordinator :

For further details regarding contents,
E-mail: support@onworkindia.com

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Learn International Capital Markets

International Capital Markets

This program is for those who wish to either begin a career in the financial markets or learn the fundamentals of capital markets. The program is structured to help you understand the basic concepts relating to diverse avenues of investment, the primary and the secondary market, the derivatives market and financial statement analysis. 

The program offers delegates an overview on the full range of capital market instruments. You will have an understanding of key drivers, players and features in the international markets, enhancing the opportunity for success in this increasingly complex area.

Who will benefit from this program?

Students, Fresh Graduates, Individual Investors, Brokers, Sub-brokers, Derivative Traders, Fund Managers, Wealth Managers, Treasury Managers, Portfolio Managers, Investment Bankers, Insurance Agents, Mutual Fund Agents, Housewives, Retired Persons, etc.

Students of finance, Job Seekers, Risk Managers, Corporate Market trainees, Private Bankers, Investment advisers, Portfolio Managers, Accountants, Regulators

Program Contents

The program will cover the following aspects

• Overview of International Capital Markets
• Markets and players
• Debt Market
• Equity markets
• Derivatives
• Forex Market

Fees: Rs.2500/- (Inclusive of service tax) per participant inclusive of tuition fees, reference material and     (morning / evening) refreshments only.

Program Coordinator :

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E-mail: support@onworkindia.com

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Learn How To Read A Mutual Fund Fact sheet

How To Read A Mutual Fund Fact sheet 


This program is for those who wish to either begin a career in the financial markets or learn the fundamentals of capital markets. The program is structured to help you understand the basic concepts relating to diverse avenues of investment, the primary and the secondary market, the derivatives market and financial statement analysis. 

Mutual Funds are fast emerging as an important form of investments in India. Mutual Funds now have over Rs.7,00,000 crore in assets under management and are growing at a rapid pace. The management of mutual funds is becoming more professional. On the other hand, the regulatory and disclosure framework is now at par with the international standards.

This Program provides the employees of mutual funds, distributors and investors useful and keen insights on various aspects of the functioning of the mutual fund industry.

Who will benefit from this program?

Students, Fresh Graduates, Individual Investors, Brokers, Sub-brokers, Derivative Traders, Fund Managers, Wealth Managers, Treasury Managers, Portfolio Managers, Investment Bankers, Insurance Agents, Mutual Fund Agents, Housewives, Retired Persons, etc.

Investors, Distributors of  Mutual Funds, UTI Agents and other Mutual Fund Agents, Employees of Mutual Funds, Brokers, Sub-brokers, Financial Intermediaries and Investment Consultants Executives in Asset Management Companies, Portfolio Managers & Investment Advisors

Program Contents

Session IEquity Funds Analysis – Sharpe Ratio, Beta, Jensen’s Alpha, Treynor’s Ratio, Expense Ratio, Tracking Error, Asset Allocation, Portfolio Turnover, Standard Deviation, SIP Benefit, Comparative Performance over past 1/ 3/ 5 years, Investment Styles, Portfolio Changes in Various Schemes, etc.

Session IIDebt Funds Analysis – Bonds Basics, Inverse Relationship, Interest Rate Sensitivity, Liquid, Floating Rate, Gilt & Income Funds, Bond Indices, Average Maturity, Portfolio Management Styles, etc.

Session IIIFinancial Planning – Life Insurance Cover Calculation, Retirement Planning, Analyzing Sample Portfolios of Investors, Using MS Excel for Simple Financial Planning, Monthly Budgeting and Monitoring, Net Worth Calculation and Building, Goal Setting & Reaching Target, Taxation, etc.

Session IVPractical Exercises – Analyzing Schemes, Developing Personal Financial Plans, Setting Goals and Targets, Working out Various Permutations / Combinations Amongst Schemes, How to Implement, etc…

Fees: Rs.1500/- (Inclusive of service tax) per participant inclusive of tuition fees, reference material and     (morning / evening) refreshments only.

Program Coordinator :

For further details regarding contents,
E-mail: support@onworkindia.com

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Learn Financial Statement Analysis

Financial Statement Analysis

This program is for those who wish to either begin a career in the financial markets or learn the fundamentals of capital markets. The program is structured to help you understand the basic concepts relating to diverse avenues of investment, the primary and the secondary market, the derivatives market and financial statement analysis.

To provide tools and techniques to assess the corporate performance & reinforcing decision making skill for investments.

Who will benefit from this program?

Students, Fresh Graduates, Individual Investors, Brokers, Sub-brokers, Derivative Traders, Fund Managers, Wealth Managers, Treasury Managers, Portfolio Managers, Investment Bankers, Insurance Agents, Mutual Fund Agents, Housewives, Retired Persons, etc.

Investment Bankers, Equity Analyst, Corporate, Banks, Mutual Funds, Broking Houses, Financial Institutions, Fund Managers, Equity Trader, Strategist, Consultants, High Net worth Investors other capital market intermediaries, Students & Retail Investors.

Program Contents

Understanding Financial Statements
a.   Profit and Loss Statement
b.   Balance Sheet
c.   Funds Flow Statement

Understanding inconsistency in financials and their adjustments

Impact of corporate actions on financials

Interpretation & application of different ratios

Case studie 

Fees: Rs.2500/- (Inclusive of service tax) per participant inclusive of tuition fees, reference material and (morning / evening) refreshments only.

Program Coordinator :

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E-mail: support@onworkindia.com

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Learn Financial Modelling

Financial Modelling 

This program is for those who wish to either begin a career in the financial markets or learn the fundamentals of capital markets. The program is structured to help you understand the basic concepts relating to diverse avenues of investment, the primary and the secondary market, the derivatives market and financial statement analysis.

To provide an effective management approach to improve performance in related areas, viz.

• Decision Making in Finance
• Quantitative Techniques
• Appraisal and Project Investment Skills
• Project Finance Technique
• Financial Statement Modelling
• Valuation Modelling

Who will benefit from this program?

Students, Fresh Graduates, Individual Investors, Brokers, Sub-brokers, Derivative Traders, Fund Managers, Wealth Managers, Treasury Managers, Portfolio Managers, Investment Bankers, Insurance Agents, Mutual Fund Agents, Housewives, Retired Persons, etc.

Managers and Executives working with Banks, Financial Services, AMC, Hedge Funds, Mutual Funds, Investment Banking, Brokerage Houses, Financial Market  Intermediaries, Research Analyst, Portfolio Managers, Risk Managers, Accountants, Project Managers, Managers and Executives in the finance department of manufacturing firms & IT firms.

Program Contents

Spreadsheets for Designing Financial Loans and Repayment Schedule

Spreadsheets for Loan Amortisation

Use of Spreadsheets for Sensitivity analysis

Financial Modelling for Project Appraisal

Modelling financial statements

Valuation Models

Fees: Rs.6500/- (Inclusive of service tax) per participant inclusive of tuition fees, reference material and     (morning / evening) refreshments only.

Program Coordinator :

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E-mail: support@onworkindia.com

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Learn Enterprise Risk Management

Enterprise Risk Management

This program is for those who wish to either begin a career in the financial markets or learn the fundamentals of capital markets. The program is structured to help you understand the basic concepts relating to diverse avenues of investment, the primary and the secondary market, the derivatives market and financial statement analysis.

Risk Management in today’s age calls for an Enterprise wide approach, attention and response. Risk Management is not a responsibility of only one person or a department. It is a responsibility of all the stakeholders to ensure that relevant risks are contained within the acceptable levels. The workshop on Enterprise Risk Management would cover the fundamental principles of Risk Management, risk classification and identification techniques, risk assessment and treatment plans. The workshop would specifically cover case studies for Risk Management for following industry segments: Stock Broking, Mutual Funds and General Insurance Business. The workshop would enable participants to comprehend the different types of risks prevailing in today’s environment and application of principles and disciplined processes to mitigate the real life risks.

Who will benefit from this program?

Students, Fresh Graduates, Individual Investors, Brokers, Sub-brokers, Derivative Traders, Fund Managers, Wealth Managers, Treasury Managers, Portfolio Managers, Investment Bankers, Insurance Agents, Mutual Fund Agents, Housewives, Retired Persons, etc.

The course is meant for people from financial and capital markets who would like to develop a detailed understanding of the principles of risk management and the approach to be followed for effectively managing the risks.

Program Contents

Fundamental Principles of Risk Management

Risk Classification:  Credit Risk, Operational Risks, Market Risks, Liquidity Risks, Financial Risks and Strategic Risks

Risk Identification techniques

Risk Treatment Plans

Application to Stock Broking Business

Application to Mutual Funds Business

Application to General Insurance Business

Fees: Rs.6500/- (Inclusive of service tax) per participant inclusive of tuition fees, reference material and     (morning / evening) refreshments only.

Program Coordinator :

For further details regarding contents,
E-mail: support@onworkindia.com

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Learn Equity Portfolio Structuring & Stock Analysis

Equity Portfolio Structuring & Stock Analysis

This program is for those who wish to either begin a career in the financial markets or learn the fundamentals of capital markets. The program is structured to help you understand the basic concepts relating to diverse avenues of investment, the primary and the secondary market, the derivatives market and financial statement analysis.

Interest rate derivative products are some of the most widely traded contracts in the international derivatives markets. This two day seminar looks at the role of interest rate derivatives in different types of trading strategies, including hedging, speculation and arbitrage. There is a particular focus on the pricing and risk measurement principles which are applicable in this market. Throughout the session, computer simulations are used to illustrate real life trading practices

Who will benefit from this program?

All those who believe in the sustainable 'INDIA' Story and want to leverage on it through Equity Investments in the Primary and Secondary Markets and manage the Risks associated with such Investments

In short…all those who are

•  Already Investing and Trading in Equity
• Advising others to Invest and Trade in Equity
• Managing Equity Funds for Clients
• Eager to Invest in Equity but are skeptical about the Integrity of Operations and Integrity of Advice

These should include:

Equity Investors: Small Retail, High Net Worth, NRIs, Corporates, FIIs, Banks & Other Financial Institutions

Capital Market Intermediaries: Stock Brokers (Directors, Employees, Franchisees, Associates, Remisiers, Sub brokers), Independent Financial Advisors & Employees of Mutual Funds, Financial Planners, Investment Strategists, Portfolio Managers, Business Journalists, Research Analysts, Equity Advisors and other financial intermediaries

Students: Those pursuing Business, Commerce, Insurance, Finance, Equity, Management studies at all levels

Benefits

Participants will be able to

• Appreciate that Wealth of Mind and Wealth of Money must move in tandem
• Strengthen Micro and Macro Perspectives to help form Investment Strategies 
• Assess their Risk Profile and Construct an Equity Portfolio true to it
• Understand Risk and Return and the Trade Off
• Interpret Financial & other information to subjectively and objectively Analyze & Value Stocks
• Think rationally and logically to avoid making investment mistakes
• Interact actively with faculty and a wide spectrum of participants 
• Apply theory to practice and academics to action

Program Contents

Module 1: Overview of the Economy
India on the Move… Global Financial Crisis… Reading the Union Budget… Eleventh Five Year Plan… Oil… Interest, Inflation and Exchange Rate… Savings, Investment & Consumption… Infrastructure Boost… Politics of Economy
Module 2: Market Dynamics
Sensex Valuation… FII Impact… Liquidity, Sentiment, Momentum, Value… Decoupling Theory… Corporate Earnings… Global Cues… Liberalization, Privatization and Globalization… Leveraging the India Story… Derivative Play… India Vision 2025
Module 3: Valuation
Time Value of Money… Interpretation of Financial Statements for Stock Analysis… Relative Valuation… Absolute Valuation… Contemporary Valuation… Price V/s Value
Module 4: Portfolio Allocation & Construction
Direct Equity v/s Mutual Funds: Interesting Angles… Client’s Risk Profiling… Investor Mistakes… Improper Framing, Anchoring, Herding etc… Investment Approaches… Investor Gurus… Warren Buffett & Peter Lynch… Logical Thinking… Game Plays… Return & Risk…Portfolio Allocation… Portfolio Construction… Portfolio Measurement… Hedging
Module 5: Adding Value to Client Relationships
Integrity Tests… Awareness of Contemporary & Controversial Issues… Insider Trading… Street Smartness Quiz… Managing Sensitive Accounts… Evaluating Financial Products v/s Peer Offers… Suitable Stock Selection & Portfolio Churning… Boosting & Balancing both Employer & Client Interests

Fees: Rs.8600/- (Inclusive of service tax) per participant inclusive of tuition fees, reference material and     (morning / evening) refreshments only.

Program Coordinator :

For further details regarding contents,
E-mail: support@onworkindia.com

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Learn Interest Rate Derivatives

Interest Rate Derivatives 

This program is for those who wish to either begin a career in the financial markets or learn the fundamentals of capital markets. The program is structured to help you understand the basic concepts relating to diverse avenues of investment, the primary and the secondary market, the derivatives market and financial statement analysis.

Interest rate derivative products are some of the most widely traded contracts in the international derivatives markets. This two day seminar looks at the role of interest rate derivatives in different types of trading strategies, including hedging, speculation and arbitrage. There is a particular focus on the pricing and risk measurement principles which are applicable in this market. Throughout the session, computer simulations are used to illustrate real life trading practices

Who will benefit from this program?

Students, Fresh Graduates, Individual Investors, Brokers, Sub-brokers, Derivative Traders, Fund Managers, Wealth Managers, Treasury Managers, Portfolio Managers, Investment Bankers, Insurance Agents, Mutual Fund Agents, Housewives, Retired Persons, etc.

Program Contents

Session 1: An overview of the interest rates derivatives markets

• The term structure of interest rates: repo rate vs. long term rates
• Interbank lending vs. treasury lending
• Fixed and floating rates of lending
• An overview of basic derivatives building blocks including forward rate agreements, futures, swaps, and options
• Structure of the global interest rate derivatives markets
• Overview of the markets in India

Session 2: Forward rate agreements and interest rates swaps

• The relationship between spot and forward rates
• Mechanics of interest rate swaps
• Introduction to interest rate swap valuation
• The MIBOR overnight index swap market in India
• Hedging interest rate risk using overnight index swaps
• Building the interest rate outlook implied by the overnight index swap market

Session 3: The options market

• Introduction
  • Mechanics of an interest rate options contract
  • Payoff profiles
• Application of interest rate options
  • Strategies
  • Markets
• Option valuation
  • Put call parity
  • Models for valuing interest rate options
    • Black model
    • Black Derman Toy model
• Inherent risks in option trading

Session 4: The interest rate futures market

• Introduction to futures trading.
• The relationship between the spot and forward price of a bond
• An overview of the global bond futures contracts
• A review of the interest rate future contract in India
• Delivery of underlying asset on expiry of future
  • Identifying the “cheapest to deliver” bond
    • Using the 'basis'
    • Using the 'implied repo rate'
  • Invoice price
• Uses of the interest rate futures contract
  • Neutralizing interest rate risk
  • Reducing the duration of a bond portfolio
• Current status of the Indian market
• Future expectations

Session 5: Global trends in the interest rate derivatives markets
Session 6: Regulation Applicable to IRD

Fees: Rs.8400/- (Inclusive of service tax) per participant inclusive of tuition fees, reference material and     (morning / evening) refreshments only.

Program Coordinator :

For further details regarding contents,
E-mail: support@onworkindia.com

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Learn Fundamentals of Mutual Fund

Fundamentals of Mutual Fund

This program is for those who wish to either begin a career in the financial markets or learn the fundamentals of capital markets. The program is structured to help you understand the basic concepts relating to diverse avenues of investment, the primary and the secondary market, the derivatives market and financial statement analysis.

• To provide knowledge about the organisation and management of mutual funds.
• To provide fund distributors the knowledge and insights required for them to become
• Better agents and informed investment advisors.
• To provide mutual fund employees with an understanding of the complexities of the
• Mutual fund functions internally and externally.
• To provide investors with the knowledge of risks and rewards of investing in mutual funds.
• To equip  financial intermediaries like agents, brokers, sub-brokers and employees of
• Mutual funds to pass the AMFI Certification Test.

Who will benefit from this program?

Students, Fresh Graduates, Individual Investors, Brokers, Sub-brokers, Derivative Traders, Fund Managers, Wealth Managers, Treasury Managers, Portfolio Managers, Investment Bankers, Insurance Agents, Mutual Fund Agents, Housewives, Retired Persons, etc.

Program Contents

Session 1

1.  Evolution and Regulatory Framework Governing the Mutual Funds Industry
   1. The Concept and Role of Mutual Funds
      1. International Scenario
      2. History of Mutual Funds in India
      3. Types of Mutual Fund Products
   2. Fund Structures, Organisation and Constituents
      1. Sponsor, Trustee and AMC
      2. Organisational Design and Legal Structure
      3. Other Constituents - Fund Mergers and Scheme Takeovers
   3. Legal and Regulatory Environment
      1. Role of Regulatory Agencies for the Fund and its Constituents
      2. Compliances & Trusteeship Issues
      3. Role of SRO
      4. Investor's Rights and Obligations

Session 2

1. Investing in Mutual Funds
   1. Investing in Mutual Funds: Understanding the Process, Investment Objective.
   2. Prospectus / Offer Document and Key Information Memorandum,
   3. Processes, Rights and Obligations for Investors

Session 3

1. Portfolio Management using Comparative Analysis
   1. Capital Markets and Investment & Portfolio Management
      1. Equity Markets and Mutual Funds
      2. Debt Markets and Mutual Funds
      3. Derivatives Markets and Mutual Funds
      4. Investment Policy
      5. Restrictions on Investments

Session 4

1. NAV, Pricing, Valuation, Accounting & Taxation
   1. NAV Concepts and Pricing
   2. Accounting
   3. Valuation Norms for Securities
   4. Reporting and Disclosure Norms
   5. Taxation

Session 1

1. Measuring and Evaluating Mutual Fund Performance
   1. Risk and Performance Evaluation
   2. Measuring Returns
   3. Tracking Mutual Funds Performance
2. Role of an Intermediary as a "Financial Planner"
3. Helping Investors with Financial Planning using Mutual Funds
   1. Concept of Financial Planning for the Investors
   2. Need for Financial Planning
   3. Basis of Financial Planning.
   4. Life Cycle and Wealth Cycle stages
   5. Investment Products
   6. Financial Planning Strategies for Investors

Session 2

1. SIP (Systematic Investment Plan) & Developing Model Portfolio using Product Mix
   1. Financial Planning Strategies & Tools
   2. Asset Allocation- The Strategic Tool and Model Portfolio
   3. Recommending  Financial Planning Strategies for Investors
   4. Comparison of Investments from available products
   5. Selecting the Right Investment Products for Investors
   6. Fund Selection from available products

Session 3

1. Risk Management Associated with the Mutual Funds Industry
   1. Helping Investors Understand Risks in Fund Investing
   2. Investment Philosophy
      1. Value Investment
      2. Growth Investment
   3. Recommending the Model Portfolio and Selecting the Right Funds
   4. Strategies & "How to make Mutual Funds work for you"

Session 4

1. Marketing, Distribution, Sales & Investor Services related to Mutual Funds
   1. Design of Mutual Fund Products
   2. Who can invest in Mutual Funds in India?
   3. Investor Services - Application, Redemption, Investment Plans & Services
   4. Marketing of Mutual Funds Products
   5. Fund Distribution Channels
   6. Sales Practices.

Fees: Rs.3600/- (Inclusive of service tax) per participant inclusive of tuition fees, reference material and     (morning / evening) refreshments only.

Program Coordinator :

For further details regarding contents,
E-mail: support@onworkindia.com

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Learn Overview of Asian Capital Markets

Overview of Asian Capital Markets

This program is for those who wish to either begin a career in the financial markets or learn the fundamentals of capital markets. The program is structured to help you understand the basic concepts relating to diverse avenues of investment, the primary and the secondary market, the derivatives market and financial statement analysis.

This course mines through the landscapes of the major players in Singapore, Hong Kong, Sydney, Shanghai, Tokyo, Malaysia, Korea and Mumbai with an eye towards understanding what type of financial instruments are being used by both domestic and International players to take advantage of the Asian growth story.

Who will benefit from this program?

Students, Fresh Graduates, Individual Investors, Brokers, Sub-brokers, Derivative Traders, Fund Managers, Wealth Managers, Treasury Managers, Portfolio Managers, Investment Bankers, Insurance Agents, Mutual Fund Agents, Housewives, Retired Persons, etc.

Program Contents

The program will cover the following aspects in detail

• Overview of Asian Capital Markets
• Asian Financial Markets – Historical Perspective
• Asian Bond Market
• Cash and Derivative Instrument Coverage
• Liquidity Constraints
• Use of Derivatives and role of Hedge Funds

Fees: Rs.4200/- (Inclusive of service tax) per participant inclusive of tuition fees, reference material and     (morning / evening) refreshments only.

Program Coordinator :

For further details regarding contents,
E-mail: support@onworkindia.com

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Learn Portfolio Risk Analysis

Portfolio Risk Analysis

This program is for those who wish to either begin a career in the financial markets or learn the fundamentals of capital markets. The program is structured to help you understand the basic concepts relating to diverse avenues of investment, the primary and the secondary market, the derivatives market and financial statement analysis. 

To understand portfolio risk using statistical tools and build a portfolio delivering highest returns for any given level of risk.

Who will benefit from this program?

Students, Fresh Graduates, Individual Investors, Brokers, Sub-brokers, Derivative Traders, Fund Managers, Wealth Managers, Treasury Managers, Portfolio Managers, Investment Bankers, Insurance Agents, Mutual Fund Agents, Housewives, Retired Persons, etc.

Program Contents

Session 1 What is Risk, Types of Risk

Session 2  Risk and Risk Premiums

• How to calculate a Risk Premium 
• Holding Period Return 
• Real Risk and Nominal Risk 
• Portfolio Risk Introduction.

Session 3  Risk and Risk Premiums

• Portfolio Risk Calculation
• Asset Allocation

Session 4 Bond Mathematics

• Inverse Relation 
• Interest Rate Sensitivity 
• Duration 
• Portfolio Average Maturity 
• Case Study

Fees: Rs.2100/- (Inclusive of service tax) per participant inclusive of tuition fees, reference material and     (morning / evening) refreshments only.

Program Coordinator :

For further details regarding contents,
E-mail: support@onworkindia.com

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