Training: Risk Management For Fund of Funds and Hedge Fund of Funds

Risk Shell analytics delivers numerous software tools designed for risk assessment of complex non-linear financial instruments like hedge funds of hedge fund of funds. These tools are based on the latest academic researches and the most advanced techniques in modern risk management. Furthermore, Risk Shell offers a number of propriety risk models and methodologies, perfected over almost two decades and proven by hundreds of institutional managers. To help you adopt these advanced risk management techniques, we offer tailored Risk Management programs and tutorials that cover both fundamental risk aspects and Risk Shell relevant modules and components.

Risk Management For Fund of Funds: Fundamentals

• Using Value-at-Risk for hedge fund assessment. Tail risks and VaR derivatives: Hybrid Vaue-at-Risk, Conditional Value at-Risk and Modified Value-at-Risk.
• Style Analysis for hedge funds - why the traditional returns-based style analysis used by Sharpe (1992) cannot be applied to hedge funds.
• Advanced regression models: the Elastic-net, LASSO, Rigid regression, Akaike Information Criterion (AIC), and the Kalman filter.
• Using autocorelation analysis for exposing liquid hedge fund holdings.
• Holdings-Based Analysis, risk assessment of hedge funds and hedge fund of funds.

Risk Shell Proprietary Models: Step-by-Step Tutorials

• Using Macroeconomic Scenario Screening™ for hedge funds and fund of funds.
• Trend Segmentation™, an extension to hedge fund Style Analysis.
• Introduction of FlexiRank™, a system to create user-defined fund ranking criteria.
• Multi-statistic Peer Group Analysis, why it is superior to the traditional Box-Plot charts.

Portfolio Construction: Training and Tutorials for Hedge Fund Investors and Multi-Asset Managers

Risk Shell offers numerous software tools for portfolio construction and portfolio management, all designed for hedge funds, fund of funds, hedge fund of funds and multi-asset portfolios. Constructing a robust portfolio of hedge fund, or a hedge fund of funds, is not a trivial task, because most of traditional investment methodologies designed for equities or long only funds, are hardly applicable for alternative investments. That is why we offer special training programs, dedicated to advanced portfolio construction techniques, that will help you use Risk Shell portfolio components the most effective way and deliver high performing investment portfolios immune to devastating market conditions.

Portfolio Optimization: Focusing on Hedge Funds and Fund of Funds

• Non-linear portfolio optimization: VaR, CVaR, Maximum Drawdown, Omega, LPM etc.
• Constructing market-neutral portfolios
• How to find the best models and parameters for hedge fund portfolio optimization
• Traditional Markowitz mean-variance optimization - why it may not work for hedge funds as you would expect

Portfolio Risk Budgeting

• Risk budgeting vs Portfolio optimization: the difference, pros and cons
• Risk Budgeting models: Equal Risk Contribution, Global Minimum Variance Portfolio, Most Diversified Portfolio, Minimum Tail Dependent Portfolio and many more

Risk Assessment of Hedge Fund of Funds

• Portfolio Marginal Contribution Analysis
• Portfolio correlation analysis and diversification analysis
• Style Analysis and Manager Style Drift for hedge funds and fund of funds

Omega Optimization for Hedge Funds

• Omega optimization in practice: how it may help you improve risk-return profiles 
• Settings for the Omega optimization models: step-by-step tutorials

Training and Tutorials for Advanced Hedge Fund Investors

The Expert category of the ABC Quant's training programs includes advanced risk management and portfolio construction topics, controversial trading techniques and the best industry practices - all tailored to hedge funds and alternative investments. Our past Expert webinars were dedicated to various topics as outlined below.

Advanced Risk Management and Portfolio Construction for Hedge Funds and Fund of Funds

• Using RiskMetrics Holdings-Based Analysis stress testing data in Risk Shell portfolio optimization.
• Uncorrelated returns and market neutral portfolios - how to build a prefect fund of hedge funds.
• Stress Testing battle: the Elastic-Net vs. Stepwise regression vs. Akaike information criterion (AIC).

Hedge Fund Risk Management: Myths and Realities

• Tactical Asset Allocation - why it cannot be used for Hedge Funds.
• How to spot the Madoff's fraud using Risk Shell in 10 minutes.
• Style Analysis for hedge funds - why the traditional returns-based style analysis used by Sharpe (1992) cannot be applied to hedge funds.

Hedge Fund Databases and Financial Data | Risk Shell Training

Risk Shell incorporates numerous financial databases and data sets covering hedge funds, hedge fund of funds, long only funds, CTA, equities, ETFs, and Global Indices - over 550,000 instruments totally. Furthermore, it offers a direct Bloomberg data feed, thus greatly expanding the universe of available investment vehicles. The scope of Risk Shell data is not limited to vendor-provided data sets - users can easily create and maintain their own databases within the Risk Shell environment, the so-called virtual custom databases. We offer special tutorial courses, dedicated exclusively to Risk Shell data.

Risk Shell Databases: Working With Hedge Fund Databases

• Comparing hedge fund databases: find the best one to fit your requirements.
• Global and local data scope. Working with Global wallets.
• Merging data across different hedge fund databases and eliminating duplicates.
• Asset Return Adjustment Framework: cloning portfolio assets and adjusting return estimates manually.

Risk Shell Databases: Working With Long Only Funds and Equities

• Creating global multi-asset portfolios.
• Working with large long only fund databases

User-defined Virtual Databases in Risk Shell

• Creating and managing custom databases and user-defined data fields.
•  Merging custom dtabases with vendors' data sets.

Bloomberg Data Feed in Risk Shell

• Working with Bloomberg real-time data feed. 
• Bulk data downloading and populating underlying holdings (Holdings-Based Analysis mode).

Training: Accounting Software For Fund of Funds and Multi-asset Portfolios

Risk Shell Fund of Funds (FoF) Manager delivers a comprehensive accounting framework designed specifically for fund of funds, hedge fund of funds, multi-asset portfolios and alternative investments. The FoF Manager tutorial program covers multiple topics explaining you how to integrate portfolio management and shadow accounting into the risk management workflow, how to set up accounts, run portfolio liquidity analysis, get P&L and transactions, and many more. Our experienced  consultants will help you set up industry standard accounting for hedge funds of funds and manage all FoF Manager components: Liquidity and Exposure Analysis, Portfolio Blotter, Class Manager and so on.

Introduction To FoF Manager - Shadow Accounting For Fund of Funds

• FoF Manager modules and components. Integration of Shadow Accounting with the Risk Management software for Fund of Funds.
• Special tools designed for hedge fund of fund managers: portfolio liquidity analysis, portfolio exposure analysis and portfolio limit controls.

How To Set Up Accounting For a New Fund of Funds: Step-by-Step Tutorial

• Setting portfolios, unit classes and accounts.
• Working with multi-currency funds.
• NAV and unit prices, working with irregular return frequencies.
• Basic transactions, setting subscriptions and redemptions.

Fund of Funds Portfolio Management: FoF Manager Tutorials

• Portfolio limit constrols, how to set them up and use.
• Working with the Portfolio Blotter.
• Fund of Fund aggregated positions.

Portfolio Liquidity and Exposure Analysis Software - a Practitioner's Guide

• Liquidity settings to describe complex hedge fund redemption scenarios.
• Portfolio Exposure Analysis: setting user-defined manager classification.
• Working with Liquidity Ladder charts, redemption calendars and cash flow projections.