Investment funds are one of the major industries in Luxembourg. Part of our investment funds series and in the continuity of the module 'Investment funds - Introduction and market data', this course will cover the operational aspects of funds from a fund accounting perspective.
- Investment funds - Introduction and market data
- Investment funds - Actors, roles and responsibilities
- Investment funds - Operational aspects
- Investment funds - Distribution platforms
- Regulatory framework (UCITS and AIFs)
This module is part of our Fund Accounting curriculum and our Transfer Agent curriculum.
Duration: 1h
Language: Available in English and French. The supporting material is only available in English.
Number of participants: up to 15
Available under intra-company course (i.e. dedicated session on demand)
Objectives
- By the end of this training, participants will be able to understand how to calculate a net asset value (NAV) and surrounding concepts.
Content
- What is an investment fund?
- Portfolio of assets
- Fund structure: umbrella vs single fund
- Fund structure: share classes
- Asset pooling for funds
- Determination of net asset value
- Accounting specificities of investment funds
- Value of shares/units
- NAV calculation – Balance sheet and P&L
- NAV per share/unit
- NAV errors and circular 02/77
- Fund accounting: actor in charge of NAV calculation
- Subscription and redemption of fund shares/units at unknown price
- Swing pricing
Target audience
- Any person willing to better understand operational aspects from a NAV standpoint.
Our lead experts
This training is coordinated by Alexis Bouly, Director at PwC Luxembourg.
Alexis is a director within PwC Luxembourg and has over 15 years of experience in the fund industry. He started his career in the audit of investment funds and has been involved in large scales advisory projects related to investment funds such as fund accounting, transfer agents, fund platform migrations and outsourcing implementations across the globe.
