Programma DIDATTICO IN AULA
Sintesi

Private Equity and Investment  Funds

The Banking Firm
Non- Banking Institutions
The Foreign Exchange Market
The International Financial System and Monetary Policy

Investment Fund Industry in Luxembourg

Anti money laundering
Fundamentals of the legal and regulatory context of Luxembourg UCIs
Overview of the service providers’ mission in the investment funds industry

• Fundamentals of the Registar & Transfert Agency Function
• Fundamentals of depositary bank
• Fundamentals of UCI’s accounting
• How to book standard UCI’s transactions and related operations

Tax environment

• Investments taxation
• Investors taxation
• Promoters’ taxation
• Specific regime
• UCITS III: tax implications
• Introduction to the Savings Directive
• VAT issues

Audit and valuation processes

• An investment fund in practice: how does it work?
• Fund distribution in Europe
• Recent evaluations and business trends

Private Equity Funds

Introduction to the private equity industry

• Introduction (figures, trends)
• Definitions
• The Private Equity fund
• Investment/ Fund valuation
• Performance calculation/allocation
• Risk factors
• Conclusion

Regolatory aspects

Tax issues

Administration of Private Equity structures in Luxembourg

Real Estate Funds

Introduction to the real estate industry

• Introduction (figures, trends)
• Definitions
• The Real Estate fund
• Investment/ Fund valuation
• Performance calculation/allocation
• Risk factors
• Conclusion

Regulatory aspects
 
Tax issues

Accounting for real estate structures in Luxembourg

• Real estate specific items
• Consolidation
• Overview of summary differences between US GAAP, IFRS and Lux GAAP
• Financial statements presentation and disclosure
• Valuation of real estate funds

Hedge Funds

• Origin & Developments
• What does Hedge Fund stand for?
• Why to invest in Hedge Funds?

Stakeholders / Intervening parties

• Intervening parties: big picture
• Who are the hedge funds managers?
• Who are the hedge funds investors?
• Demand and distribution

Definitions & Strategy

• Preliminary definitions
• Hedge Funds strategy
• Comparison with traditional assets
• “Due diligence” on Hedge Funds managers
• Detailed analysis of strategies and following concepts

Administration and compliance

• Regulatory environment
• Hedge Funds administration
• Risk management
• Custodian role & responsibilities
• Limited Liability Partnership