b'INVESTMENT OF PENSION FUND ASSETS /Against the backdrop of New Normal nancial conditions ofCOURSE OBJECTIVES:On completion, you will be able to: historic low interest rates, bond yields combined with low property Understand the principal asset valuation techniques rental yields, and disappointing equity market returns, pension Appreciate the limitations of public security investment schemes are under great pressure. They need to deliver higher Analyse the risks and return potential of the major asset classes returns to meet their increasing liabilities due to the greater Understand the tenets of modern portfolio theory longevity of pension scheme members. Appreciate the potential benets of, and risks pertaining to private market investment Asset allocation remains a critical consideration as pension Analyse the key risks of different asset types schemes seek to leverage their natural liquidity in order to generate higher returns from longer term investment in new capital assets.KEY TOPICS The traditional approach of allocating to existing securities markets Risk pricing across the principal asset classeswhich may only result in increasingly inated prices for existing Equity market analysis and valuation techniques capitalis increasingly being called into question. Consequently, The role of bonds and money market securities in pension funds investors urgently need to acquire the knowledge and skills to Bond valuation and key risk measures including duration condently invest in asset classes such as Private Equity and Analysing the risk and return proles of Private Equity andInfrastructure assets. Infrastructure investmentUnderstanding asset-liability risk from a pension fundPension scheme Governors and Trustees with a duciary perspective responsibility to act in the best interests of members have also The critical role of liquidity in contemporary investment increasingly beenquestioning the value added by external asset Risk management and the role of derivativesmanagers, noting their often disappointing performance, and taking on these responsibilities themselves. DURATION FEE DATE VENUE There are many complex decisions to be made and this course will05 DAYS 2,495 12 - 16 April 2021Dubai arm those responsible for investment of pension fund assets with09 - 13 August 2021Londonthe knowledge to make these critical choices with greater condence.PENSION SCHEME INVESTMENT IN PRIVATE EQUITY AND INFRASTRUCTURE /In recent times, pension schemes have signicantly increased Appreciate the key factor of liquidity in private assets visvisallocations to alternative asset classes and, in particular, to private mainstream securities equity and infrastructure assets. The theoretical investment Understand the important differences between infrastructureargument for these allocations is sound, given the high prices of and public goods traditional public investment assets, the liquidity premium that pension schemes can harvest and the creation of new capitalKEY TOPICS assets which suffer less from the surfeit of saved capital chasing The nature and risk/return prole of private asset investment too few public equities and bonds in most capital markets, which Rationales for pension scheme allocation to private equity andincrease prices and reduce yields. infrastructurePitfalls in private asset investment and the key role of effectiveIn addition to analysing the potential portfolio diversication due diligence benets of private assets, delegates will examine the principal Realistic liquidity analysis in public and private asset markets types of private equity, ranging from venture capital through to Evolution of private investments and key exit strategies growth equity, late stage/pre-IPO investments and buyouts. This Project nance structures and participantscourse will also cover the investment vehicles and fund structures used as conduits for pension scheme investment.DURATION FEE DATE VENUE Delegates will discuss the suitability of different types of05 DAYS2,495 12 - 16 April 2021Mauritus infrastructure assets for pension scheme investment, and draw the 29 November - 03 December 2021 Dubaicareful distinction between these and public goods perhaps more appropriately funded by taxation.COURSE OBJECTIVES:On completion, you will be able to:Appreciate the increasingly important role played by private equity in investmentUnderstand the fundamental drivers behind the evolution of the marketAnalyse the risk/return prole of private equity investmentIdentify the principal actors in infrastructure project nance transactions 66e: trainingbookings@crownagents.co.uklt: +44 (0)20 3940 4300'