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Advanced Public Investing: December 3-4, 2012

Group-live course
Prerequisites: Investing Public Funds
Course level: Advanced   
CPE credits: 16
Time: 2 days, 9:00 am – 5:00 pm (both days)      

Who Will Benefit
State and local government treasurers, investment officers, and other finance officers and their staff who are involved with the investment of public funds and investment oversight.

Program
Advanced Public Investing will provide participants a solid understanding of complex investment concepts that pertain to risk, return, portfolio strategies, and security analysis. This is an advanced course and participants will be expected to have a solid foundation in fixed-income securities and their various characteristics, investment economics, and passive and active investment strategies. It is strongly recommended that participants attend the GFOA Investing Public Funds seminar before attending this Advanced Public Investing seminar.

Topics Covered

  • Risk concepts and metrics
  • Measures of return
  • Benchmarking portfolio performance
  • Active portfolio management strategies
  • Electronic tools for portfolio management
  • Best Practices on:
    • Creating an Investment Policy
    • Diversification of Investments in a Portfolio
    • Establishing a Policy for Repurchase Agreements
    • Adopting Policies for the Frequency of Purchased Securities Valuation in Repurchase Agreements
    • Government Relationships with Securities Dealers
    • Investment of Bond Proceeds
    • Managing Market Risk in Investment Portfolios
    • Mark-to-Market Reporting Practices for State and Local Government Investment Portfolios
    • Selection and Ongoing Review of Investment Advisers for Non-Pension Fund Investment Portfolios
  • Advisories on:
    • Establishing a Policy for Reverse Repurchase Agreements
    • Securities Lending Programs for Non-Pension Fund Portfolios
    • Use of Derivatives by State and Local Governments for Cash Operating and Reserve Portfolios
    • Using Commercial Paper in Non-Pension Fund Investment Portfolios
    • Use of Derivatives and Structured Investments by State and Local Governments for Non-Pension Fund Investment Portfolios


Seminar Objectives

 

Those who successfully complete the seminar should be able to:

  • Identify and use important risk concepts and metrics
  • Calculate measures of return
  • Use portfolio benchmarks to make and evaluate investment decisions
  • Determine which active portfolio strategy is appropriate in various interest rate scenarios
  • Perform options-adjusted spread analysis
  • Use electronic tools for portfolio management
  • Apply principles learned in the course in a simulation exercise that constructs a portfolio based on given market information

Recommended Reading
  • Investing Public Funds (second edition)
  • An Elected Official’s Guide: Investing (second edition)
  • GFOA’s best practices and advisories on Treasury and Investment Management (www.gfoa.org)


Registration Fees
GFOA member: $580 Nonmember $790

 

Registration form
Register online