FINA0079-1 : Fund Administration & Audit

Study Programmes 2015-2016

FINA0079-1

Fund Administration & Audit

Duration :

30h Th

Number of credits :

Master in management (120 ECTS)		5
Master in management (120 ECTS)		5

Lecturer :

Danielle Sougné

Language(s) of instruction :

English language

Organisation and examination :

Teaching in the second semester

Units courses prerequisite and corequisite :

Prerequisite or corequisite units are presented within each program

Course contents :

The PWC-Alter Domus Chair proposes this course on fund industry. Its goal is to provide Business and Law students (as well as anyone interested in making a career in the mutual fund industry) with an overview of the mutual fund industry regarding basic principles as well as the different sorts of jobs. This course is practice-oriented and is built around Luxembourg mutual fund industry standards. Luxembourg is by far the European leader (and second in the world behind the United States) in the mutual fund industry with more than 11 000 funds managing around 1 800 billion Euros. Financial services in Luxembourg represent more than 44 000 employees contributing to almost one third of Gross Domestic Product.
The course is articulated around 9 main parts. All these parts are presented by experts in mutual funds from the academic as well professional world (KBL, EFA, Deloitte & Touche, Arendt & Medernach, la bourse de Luxembourg, Elvinger, Hoss & Prussen, KPMG, Alter Domus).
- Part 1: Introduction to Mutual Fund Markets
- Part 2: The different Investment Vehicules ( Legal structures for investment funds : Ucits funds, non-Ucits funds-AIFMD, SIF, SICAR)
- Part 3: Global Overview of the Luxembourg Fund Industry ( Ucits funds, Ucits III, Ucits IV, non-Ucits funds, Ucits V)
- Part 4: Focus on the Depositary and the Management Company of undertakings for Collective Investment ( role of the Depositary, Management Company : cross-Border Management Passport, chapter 15 ( risk management procedure included), chapter 16)
- Part 5: Set-up of a UCI and ongoing requirements of UCIs ( Pre-AIFMD/Post AIFMD, choice criteria, structure available)
- Part 6: Fund Administration (fund accounting, compliance and risk management, tranfer agency, late trading, market timing, dilution, anti-money laundering, the different fees)
- Part 7: Organization and Supervision of Investment Funds ( regulatory authority, auditor, focus on CSSF circular 02/77, custodian, Corporate Governance)
- Part 8 : Alternative funds ( hedge funds, REITs, private equity)
- Part 9: Admission to Trading of a UCI ( advantages, admission procedure, continuing obligations, AIFMD, ETFs)

Learning outcomes of the course :

Overview of mutual fund markets

This course contributes to the following Intended Learning Outcomes :

ILO-2 : Gaining the knowledge and understanding of one of the proposed fields of concentration or to gain deep knowledge in the field of the management being already specialized thru a first University Master Degree .

ILO-5 : Integrate autonomously researched information, tools, knowledge and context to build and propose, either individually or as part of a team, original, creative and viable solutions to concrete complex management problems, whether real or simulated, taking into account, when necessary, the human, social and legal context.

ILO-6 : Ability to speak 2 foreign languages: C1 in English and B2 in one other language.

ILO-7 : Being capable of professional team work

ILO-8 : Developing leadership

ILO-9 : Developing a critical sense (arguing)

ILO-10 : Developing a transversal, global vision

ILO-11 : Creative conception of solutions

ILO-12 : Professional capacity for oral communication

ILO-13 : Professional capacity for written communication

Prerequisite knowledge and skills :

Planned learning activities and teaching methods :

Mode of delivery (face-to-face ; distance-learning) :

Lectures: presentations by academic and professional experts
Classes take place during the second semester (2h/week).
Case studies