Investment Management Workshop : Investing and Strategic Decision-Making

"This program is unique because it brought together a diverse group of investment management leaders."

Amanda E. Agati

Co-Chief Investment Strategist, PNC Financial Services Group, U.S.

Need Help? Contact Us:

CFA Institute

Email: university@cfainstitute.org
Telephone: 1.800.247.8132
(outside U.S. & Canada +1.434.951.5499)

Identify the Right Program for You

Request the Brochure

"This program is unique because it brought together a diverse group of investment management leaders."

Amanda E. Agati

Co-Chief Investment Strategist, PNC Financial Services Group, U.S.

Need Help? Contact Us:

CFA Institute

Email: university@cfainstitute.org
Telephone: 1.800.247.8132
(outside U.S. & Canada +1.434.951.5499)

Identify the Right Program for You

Summary

For over 50 years, the Investment Management Workshop has convened the world's top principals, portfolio managers, and executives to explore the latest industry strategies and best practices. Focused on asset management, business strategy and development, and investment strategy and execution, the program helps you optimize your strategic edge. You will analyze key industry trends and challenges and return to your firm ready to evaluate and implement innovative investment approaches.

This program is presented jointly by Harvard Business School (HBS) Executive Education and CFA Institute.

Summary

This program is presented jointly by Harvard Business School (HBS) Executive Education and CFA Institute.

Key Benefits

During this renowned industry forum, you will gain fresh insights into how the investment management industry is evolving—and how those changes could affect your strategies and your business. You will emerge better prepared to navigate the industry landscape, make optimal investments, manage risk, and create value.

Key Benefits

Gain strategic insights into all segments of the industry

Analyze complex challenges and potential solutions more effectively

Broaden your range of potential investment and allocation strategies

Extend your network by living and working with accomplished investment industry executives from various backgrounds and countries across the globe
Build relationships with a diverse group of peers who can provide wide-ranging insights into your business challenges and career decisions

Who Should Attend

Rising executives in investment management organizations—including hedge fund firms, private equity investing firms, pension funds, sovereign wealth funds, endowments, and investment consulting firms
Individuals involved in areas related to capital markets, such as corporate finance, brokerage, and mergers and acquisitions
General managers or specialists—such as chief investment officers, directors of investments, senior analysts, research directors, risk managers, portfolio managers, investment advisors, wealth managers, and principals

Participating Companies Have Included:

ADIA

APG

DWS

Edward Jones

Fidelity

HSBC

Liberty Mutual

Prudential Capital Group

SWIB

Vanguard

Dive Deeper into the Experience

We Celebrate New Ways of Thinking. Are You Ready?

Thrive in a learning environment that welcomes diverse ideas and perspectives.

Experience the Case Method in the Classroom

Watch participants debate the issues and present their viewpoints.

Discover more about business. And yourself.

Global perspectives > Leadership growth > Organizational impact.

Who Should Attend: Download Brochure

Rising executives in investment management organizations—including hedge fund firms, private equity investing firms, pension funds, sovereign wealth funds, endowments, and investment consulting firms

Individuals involved in areas related to capital markets, such as corporate finance, brokerage, and mergers and acquisitions

General managers or specialists—such as chief investment officers, directors of investments, senior analysts, research directors, risk managers, portfolio managers, investment advisors, wealth managers, and principals

Participating Companies Have Included:

ADIA

APG

DWS

Edward Jones

Fidelity

HSBC

Liberty Mutual

Prudential Capital Group

SWIB

Vanguard

Dive Deeper into the Experience

We Celebrate New Ways of Thinking. Are You Ready?

Thrive in a learning environment that welcomes diverse ideas and perspectives.

Learn More Learn More

Experience the Case Method in the Classroom

Watch participants debate the issues and present their viewpoints.

Learn More Learn More

Discover more about business. And yourself.

Global perspectives > Leadership growth > Organizational impact.

Learn More Learn More

Learning and Living at HBS

When you participate in an Executive Education program on the HBS campus, you enter an immersive experience where every aspect of the learning model has been carefully designed to facilitate your growth. Your learning will take place on your own, in your living group, and in the larger classroom, driven by the renowned HBS case method.

Learning and Living at HBS: When you participate in an Executive Education program on the HBS campus, you enter an immersive experience where every aspect of the learning model has been carefully designed to facilitate your growth. Your learning will take place on your own, in your living group, and in the larger classroom, driven by the renowned HBS case method.

Admissions Criteria and Process

We admit candidates to specific sessions on a rolling, space-available basis, and encourage you to apply as early as possible. Although most programs have no formal educational requirements, admission is a selective process based on your professional achievement and organizational responsibilities.

Answering Your Questions

If you have any questions about the program or application process, please email university@cfainstitute.org

Application Submission

We recommend that you apply at least four weeks before the program start date. You may use our online form or download an application. HBS maintains all application information in strict confidentiality. We acknowledge receipt of applications via email. In the unlikely event that you do not receive an acknowledgment, please email us at university@cfainstitute.org or call us at +1.800.247.8132 (outside the U.S. & Canada +1.434.951.5499).Along with your application, please inform us of any dietary restrictions or any needs for services to accommodate a disability.

Application Review

To optimize the learning experience and maximize the exchange of ideas, our Admissions Committee makes selections that balance each participant's experience, scope of current responsibilities, and type of organization. HBS seeks candidates who reflect a broad range of industries, functions, countries, and backgrounds. We review applications monthly and will contact you via email with the Admissions Committee's decision.

Fee, Payment, and Cancellations

The $10,500 program fee ($9,800 program fee for CFA Institute Members/CFA® Program Candidates) includes tuition, course materials, on-campus single accommodations, and most meals. No payment is necessary until you have been accepted. To hold your place, please submit payment within two weeks of acceptance into the program. If you must cancel, submit your request in writing to university@cfainstitute.org. You may be subject to a fee, depending on exactly when you cancel:

Cancellations within 30 days prior to the start of the program will be subject to a $3,500 fee ($3,265 for CFA Institute Members/CFA® Program Candidates)
Cancellations within seven days prior to the start of the program will be subject to a $7,000 fee ($6,525 for CFA Institute Members/CFA® Program Candidates)
Cancellations after the start of the program will be subject to the full payment. Substitution and registration sharing are not permitted.

Preparing to Attend

Business casual attire is appropriate for the workshop. Study materials and cases will be made available to you prior to your arrival. Given the intensive schedule during the program, advance preparation is required so that you can maximize the value of your time on campus.

Admissions Criteria and Process

Answering Your Questions

If you have any questions about the program or application process, please email university@cfainstitute.org

Application Submission

Application Review

Fee, Payment, and Cancellations

Cancellations within 30 days prior to the start of the program will be subject to a $3,500 fee ($3,265 for CFA Institute Members/CFA® Program Candidates)
Cancellations within seven days prior to the start of the program will be subject to a $7,000 fee ($6,525 for CFA Institute Members/CFA® Program Candidates)
Cancellations after the start of the program will be subject to the full payment. Substitution and registration sharing are not permitted.

Preparing to Attend

What You Will Learn

Throughout four intensive days, you will be immersed in a rich learning experience that includes faculty presentations, cases studies, industry guest speakers, and small group discussions. Cases will examine current and emerging developments in asset management. Often, case protagonists—individuals intimately involved in or directly affiliated with the cases being studied—attend one of the case discussions

What You Will Learn: Throughout four intensive days, you will be immersed in a rich learning experience that includes faculty presentations, cases studies, industry guest speakers, and small group discussions. Cases will examine current and emerging developments in asset management. Often, case protagonists—individuals intimately involved in or directly affiliated with the cases being studied—attend one of the case discussions

Insight from Industry Experts

In addition to the visits from case protagonists, the program also features guest speakers from leading investment organizations. These accomplished, senior-level professionals will share insights into how they have overcome critical business challenges.

Insight from Industry Experts

Past speakers have included:

Robert S. Kapito, President, BlackRock
Jonathan S. Lavine, Co-Managing Partner, Bain Capital; and Chief Investment Officer, Bain Capital Credit
Jeremy Grantham, Cofounder and Chief Investment Strategist, Grantham, Mayo & van Otterloo (GMO)

A Continually Refreshed Curriculum

The workshop teaching team continually refreshes the curriculum with new topics and cases, ensuring that content addresses emerging developments in investment management. The overall workshop content is renewed every three years.

A Continually Refreshed Curriculum: The workshop teaching team continually refreshes the curriculum with new topics and cases, ensuring that content addresses emerging developments in investment management. The overall workshop content is renewed every three years.

Key TopicsExpand All Collapse All

Investment strategies Investment strategies

Evaluation and implementation of innovative investment strategies across all industry segments
Investment decisions in a world of expected low returns
Challenges of size for both asset allocators and asset managers
Strategic drivers of growth and profitability
New approaches to investment policy design and execution
Organization of institutional investors
Drivers of success for activism as an investment strategy
Co-investments in private markets

Industry evolution Industry evolution

Disruptive innovations in the investment management industry
Search for alpha in today's environment
Implications of the growth in index investing for markets and for the investment management industry in general
Rise of smart beta investing and its implications
Fintech as a disruptive industry force and strategic responses from incumbents
Future of hedge funds and private equity
Innovative fee structures for institutional investors
Trade execution in a world of high-frequency trading and multiple execution venues
Liquidity management in uncertain times
Valuation and M&A of investment management firms

Key Topics

Investment strategies

Evaluation and implementation of innovative investment strategies across all industry segments
Investment decisions in a world of expected low returns
Challenges of size for both asset allocators and asset managers
Strategic drivers of growth and profitability
New approaches to investment policy design and execution
Organization of institutional investors
Drivers of success for activism as an investment strategy
Co-investments in private markets

Industry evolution

Disruptive innovations in the investment management industry
Search for alpha in today's environment
Implications of the growth in index investing for markets and for the investment management industry in general
Rise of smart beta investing and its implications
Fintech as a disruptive industry force and strategic responses from incumbents
Future of hedge funds and private equity
Innovative fee structures for institutional investors
Trade execution in a world of high-frequency trading and multiple execution venues
Liquidity management in uncertain times
Valuation and M&A of investment management firms

Case ExamplesExpand All Collapse All

Baupost Group: Finding a Margin of Safety in London Real Estate Baupost Group: Finding a Margin of Safety in London Real Estate

Deep value investing, with an application to real estate investing
Understanding what entails investing with a "margin of safety"
Structural and developed edges in investing

Trian Partners and DuPont Trian Partners and DuPont

Short-term versus long-term activists (highly engaged shareowners
Operationally focused activism (private equity in public markets) as an investment strategy: Implementation, risks, and funding
Activists and indexers: The future of capitalism and the separation of management and ownership

Diversified Alpha at Acadian Asset Management Diversified Alpha at Acadian Asset Management

Man versus machine: The future of active investing
Capacity and scale in active investment management
Low-volatility anomaly
Launching a new strategy

H Partners and Six Flags H Partners and Six Flags

Private equity and distressed investing
Private investment opportunities in today's markets
Value creation, destruction, and the capital markets

Real Assets Real Assets

Role of real assets in an investment portfolio
Changing the covariance of real assets with inflation and other asset classes
Real assets as an alpha-versus-beta opportunity
Specific investment opportunities, including shipping, water, agriculture, and timber

Blackstone Alternative Asset Management in 2018 Blackstone Alternative Asset Management in 2018

Achieving sustainable alpha
Evaluating and implementing opportunities for growth in the active asset management business
Succesion in the asset management business
The future of the alpha business

Texas Teachers and the New Texas Way Texas Teachers and the New Texas Way

Role of private investment vehicles (private equity and real estate) in institutional portfolios in today's risk-and-return environment
Customization of investments in alternative asset management: Optimizing your edge as an investor
Co-investments in private equity and real estate
New approaches to fees in public and private investment vehicles

The Vanguard Group, Inc., in 2015: Celebrating 40 The Vanguard Group, Inc., in 2015: Celebrating 40

Present and future of low-cost, indexed investing in the United States and globally and the implications for capital markets
Evaluating the business strategy and growth options of an asset management firm: Strengths, challenges, threats, and opportunities

The Wealthfront Generation The Wealthfront Generation

Investing habits of millennials and their impact on the asset management business: The $7 trillion opportunity
Technology-driven investment platforms: Robo-advisors
Future of investment advice: Incumbents versus new entrants

Harvard Management Company Harvard Management Company

Challenges of endowment investing in today's capital markets
Future risk and return of the major asset classes
Policy portfolio design
Risk management and liquidity management
Development of a successful investment organization

APG Group APG Group

Investment and management challenges of very large pools of capital
Investment strategies in a world of low interest rates and expected returns
Smart beta investing
Challenges of spinning off an internal investment management operation into a successful firm

Prudential Financial—General Motors Pension Risk Transfer Prudential Financial—General Motors Pension Risk Transfer

Challenges in managing and investing pension fund assets
Pension fund de-risking strategies
Managing longevity risk
Structure and execution of a pension risk transfer program
Industry dynamics of pension fund asset management

The FLV Capital Trading Desk The FLV Capital Trading Desk

Institutional trading in modern capital markets
Management of implementation shortfalls in a world with fragmented capital markets, dark pools, and high-frequency trading

Business Intelligence Advisors Business Intelligence Advisors

Information as alpha
New frontiers in active investing

Northforty: Managing a Microsoft Family Office Northforty: Managing a Microsoft Family Office

Modern family office investing and management
Investing in a non-perpetual setup

Puerto Rico's COFINA Bonds: Hold or Fold?Puerto Rico's COFINA Bonds: Hold or Fold?

Distressed debt investing
Evaluation of investing opportunities created by regulatory and institutional factors

Case Examples

Baupost Group: Finding a Margin of Safety in London Real Estate

Deep value investing, with an application to real estate investing
Understanding what entails investing with a "margin of safety"
Structural and developed edges in investing

Trian Partners and DuPont

Short-term versus long-term activists (highly engaged shareowners
Operationally focused activism (private equity in public markets) as an investment strategy: Implementation, risks, and funding
Activists and indexers: The future of capitalism and the separation of management and ownership

Diversified Alpha at Acadian Asset Management

Man versus machine: The future of active investing
Capacity and scale in active investment management
Low-volatility anomaly
Launching a new strategy

H Partners and Six Flags

Private equity and distressed investing
Private investment opportunities in today's markets
Value creation, destruction, and the capital markets

Real Assets

Role of real assets in an investment portfolio
Changing the covariance of real assets with inflation and other asset classes
Real assets as an alpha-versus-beta opportunity
Specific investment opportunities, including shipping, water, agriculture, and timber

Blackstone Alternative Asset Management in 2018

Achieving sustainable alpha
Evaluating and implementing opportunities for growth in the active asset management business
Succesion in the asset management business
The future of the alpha business

Texas Teachers and the New Texas Way

Role of private investment vehicles (private equity and real estate) in institutional portfolios in today's risk-and-return environment
Customization of investments in alternative asset management: Optimizing your edge as an investor
Co-investments in private equity and real estate
New approaches to fees in public and private investment vehicles

The Vanguard Group, Inc., in 2015: Celebrating 40

Present and future of low-cost, indexed investing in the United States and globally and the implications for capital markets
Evaluating the business strategy and growth options of an asset management firm: Strengths, challenges, threats, and opportunities

The Wealthfront Generation

Investing habits of millennials and their impact on the asset management business: The $7 trillion opportunity
Technology-driven investment platforms: Robo-advisors
Future of investment advice: Incumbents versus new entrants

Harvard Management Company

Challenges of endowment investing in today's capital markets
Future risk and return of the major asset classes
Policy portfolio design
Risk management and liquidity management
Development of a successful investment organization

APG Group

Investment and management challenges of very large pools of capital
Investment strategies in a world of low interest rates and expected returns
Smart beta investing
Challenges of spinning off an internal investment management operation into a successful firm

Prudential Financial—General Motors Pension Risk Transfer

Challenges in managing and investing pension fund assets
Pension fund de-risking strategies
Managing longevity risk
Structure and execution of a pension risk transfer program
Industry dynamics of pension fund asset management

The FLV Capital Trading Desk

Institutional trading in modern capital markets
Management of implementation shortfalls in a world with fragmented capital markets, dark pools, and high-frequency trading

Business Intelligence Advisors

Information as alpha
New frontiers in active investing

Northforty: Managing a Microsoft Family Office

Modern family office investing and management
Investing in a non-perpetual setup

Puerto Rico's COFINA Bonds: Hold or Fold?

Distressed debt investing
Evaluation of investing opportunities created by regulatory and institutional factors

The HBS Advantage

Our Executive Education programs are developed and taught by HBS faculty who are widely recognized as skilled educators, groundbreaking researchers, and award-winning authors. Through their board memberships, consulting, and field-based research, they address the complex challenges facing business leaders across the globe

Faculty Cochair

André F. Perold

George Gund Professor of Finance and Banking, Emeritus. Faculty cochair of the "Investment Management Workshop".

Read Full Bio

Luis M. Viceira

George E. Bates Professor of Business Administration. Senior Associate Dean for Executive Education. Member of the Finance Unit; and faculty cochair of "Investment Management Workshop" and "Leveraging Fintech Innovation to Grow and Compete."

Read Full Bio

"This program is unique because it brought together a diverse group of investment management leaders."

Amanda E. Agati

Co-Chief Investment Strategist, PNC Financial Services Group, U.S.

Need Help? Contact Us:

CFA Institute

Email: university@cfainstitute.org
Telephone: 1.800.247.8132
(outside U.S. & Canada +1.434.951.5499)

Identify the Right Program for You

Request the Brochure

"This program is unique because it brought together a diverse group of investment management leaders."

Amanda E. Agati

Co-Chief Investment Strategist, PNC Financial Services Group, U.S.

Need Help? Contact Us:

CFA Institute

Email: university@cfainstitute.org
Telephone: 1.800.247.8132
(outside U.S. & Canada +1.434.951.5499)

Identify the Right Program for You

Request the Brochure

"This was truly a chance to fine tune those critical skills that combine to grow a successful and sustainable business."

Juan Surgeon

Chief Investment Officer, MMG Bank, Panama

Read His Story

Need Help? Contact Us:

CFA Institute

Email: university@cfainstitute.org
Telephone: 1.800.247.8132
(outside U.S. & Canada +1.434.951.5499)

Identify the Right Program for You

Request the Brochure

"This was truly a chance to fine tune those critical skills that combine to grow a successful and sustainable business."

Juan Surgeon

Chief Investment Officer, MMG Bank, Panama

Read His Story

Need Help? Contact Us:

CFA Institute

Email: university@cfainstitute.org
Telephone: 1.800.247.8132
(outside U.S. & Canada +1.434.951.5499)

Identify the Right Program for You

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