Duration
30h Th
Number of credits
| Master in management (120 ECTS) | 5 crédits |
Lecturer
Language(s) of instruction
English language
Organisation and examination
Teaching in the first semester, review in January
Units courses prerequisite and corequisite
Prerequisite or corequisite units are presented within each program
Learning unit contents
The goal of this course 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 8 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: The different Investment Vehicles (Legal structures for investment funds : Ucits funds, non-Ucits funds-AIFMD, SIF, SICAR)
- Part 2: Focus on the Depositary and the Management for Collective Investments
- Part 3: Luxembourg non-Ucits funds : Regulatory requirements
- Part 4: Set-up and ongoing requirements of Ucis
- Part 5: Fund Administration (fund accounting, compliance and risk management, tranfer agency, late trading, market timing, dilution, anti-money laundering, the different fees)
- Part 6: Organization and Supervision of Investment Funds ( regulatory authority, auditor, focus on CSSF circular 02/77, custodian, Corporate Governance)
- Part 7 : Alternative funds ( hedge funds, REITs, private equity)
- Part 8: Admission to Trading of a UCI ( advantages, admission procedure, continuing obligations, AIFMD, ETFs)
Learning outcomes of the learning unit
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 first semester (2h/week).
Case studies
Field trip in Luxembourg
Recommended or required readings
Powerpoint presentations (available on the Intranet before each class).
"Fund Industry in Luxembourg", D. Sougné, Larcier
Scientific and professional documents .
Assessment methods and criteria
Written exam (MCQ)
Participation in class
Case studies
Work placement(s)
Organizational remarks
Planning of lectures and case studies
On line
Contacts
Danielle Sougné
Professor
Fund Industry Chairholder
Dept : HEC-ULg : UER / Gestion financière et consolidation
E-mail : Danielle.Sougne@ulg.ac.be