Make Me A Fund Manager

The qualifications you will need to succeed in Fund Management / Portfolio Management / Investment Management / Wealth Management / Asset Management…

What is a Fund Manager?

Fund Manager refers to the person running a fund. Fund Management (Or portfolio management, investment management and other terms) is the professional management of various securities (shares, bonds, etc.) and other assets (e.g. property), to meet specified investment goals for the benefit of the investors.

Investors may be institutions (insurance companies, pension funds, corporations etc.) or private investors (both directly via investment contracts and more commonly via collective investment schemes eg. mutual funds, OIECS).

Fund managers, irrespective of how esoteric their strategies are, basically manage assets (any asset class).

They might track an index or create value through complex arbitrage strategies but their ultimate goal is to professionally run a portfolio.

“That sounds very fancy, but what does that all mean?”

Well, to secure a career as a fund manager you will need to know, so keep reading to find out how…

How do I become a Fund Manager?

Fund Management is very competitive and careers are reserved for the most dedicated students and graduates. The financial rewards are huge and becoming a Fund Manager will require you to go the extra mile. If this is the career path for you, you will want to get the industry standard qualification…

What qualification do I get?

You will need to train for the Investment Management Certification (IMC) or the Chartered Financial Analayst (CFA). The IMC and CFA are widely recognised for people wanting to work in fund management, including: fund managers, pension fund managers, insurance fund managers, private equity and hedge fund managers, and those requiring to have passed a threshold competency exam.

What is the IMC?

The IMC is an FSA approved threshold competency exam for people working in financial analysis, investment management and fund sales. Its objective is ‘to test the delegate’s knowledge and understanding of the regulations and practices of financial markets, categories of securities and principles of investment management’.

UNIT 1 – This unit tests your knowledge and understanding of the regulations and practices of financial markets in the UK. It provides a detailed study of:

• The regulatory environment
• The regulatory structure
• The conduct of investment business
• Investment powers
• The UK and international markets
• Taxation, including corporation, investor and overseas tax

Unit 1 is assessed by a 1 hour and 5 minutes exam, containing 51 multiple choice questions.

UNIT 2 -  This unit tests your knowledge and understanding of the practices of financial markets, categories of securities and the principles of investment management. It looks at:

• Various financial instruments, including shares, fixed income securities and derivatives
• Portfolio management techniques
• The fundamentals of accounting
• Financial statement analysis
• Micro and macro economics
• The fundamentals of statistics

Unit 2 is assessed by a 2 hour and 10 minute exam, containing 104 multiple choice questions.

Why complete the IMC?

The IMC has been approved by the Financial Services Skills Council as a benchmark competency exam for people working in investment management and forms one element of attaining Approved Person status with the FSA.

IMC and the RDR – new IMC level 4 qualification from September 1st 2010

In case you are not familiar with the new RDR regulations yet, the FSA’s Retail Distribution Review (RDR) introduces new exam requirements for those who advise retail clients on investments. All RDR qualifications routes must be at level 4 or higher. This is an important change because most Appropriate Examinations are currently at level 3 in the UK qualification structure. The FSA deadline for existing advisers to obtain level four qualifications has been confirmed as 31 December 2012.

CFA UK is developing the IMC as a level four qualification from 1st September 2010. It will cover the core standards of the RDR and increase a little in length. However, it will remain an achievable, sensibly-sized certificate appropriate for staff in both retail and institutional investments.

The IMC exam maintains its current two paper structure and will continue in a computer-delivered format available most days of the year with results within a week. The question format will be mixed to include questions where candidates supply the answers (gap fill), and established multiple choice questions.

There will also be no option to take the full IMC as one paper from September 2010 onwards.

When can I take the IMC?

IMC exams are computer based and can be taken at any of the specified test centres any time throughout the year. With the new RDR requirements and IMC level 4 qualification starting September 2010, there will be no option to take the full IMC as one paper from September 2010 onwards

How will I study for the IMC?

You can study at a time and place convenient to you with 7city’s high-tech online distance learning package or study from their state of the art training centre in London.

7c-online™ for the IMC is the industry benchmark featuring interactive learning resources and performance monitoring to identify weak areas and send targeted content and advice to remedy problem areas.

Through your 7c online™ account you can access classroom recordings, online mocks, practice question banks, email a day and the online helpdesk. Active analysis of your work patterns and performance guides your study and is seamlessly integrated into your online account, ensuring a cohesive learning experience.

Recordings
Classroom sessions are available as recordings to watch via your 7c-online account. Complete with the tutors’ annotations, they re-create the classroom environment and are ideal for re-capping and future playback after the course.

Mobile Learning
Classroom recordings are also available as downloadable podcasts in MP3 or MP4 format – ideal for learning on the move!

Email-a-day
Email-a-day delivers bite-sized practice questions to your desktop from the day you enrol on the course to the exam day itself. It will identify your weak spots, sending targeted content and advice to remedy problem areas and giving you a convenient and easy way to stay on top of your studies.

Questions and Online Mocks
Our question bank contains hundreds of constantly updated practice questions. By taking mock exams at key times, you can keep on top of your learning and be constantly sharpening your mind for the real thing.

In response to the syllabus changes to move the IMC from a Level 3 to a QCA Level 4. 7city will offer a choice of options for studying the IMC. Please contact Ben Scott or Stuart Empson 0845 072 7620 to find out more.

Also change on the bottom (after CFA text):

What is the CFA® Program?

The curriculum is based on the CFA Institute Candidate Body of Knowledge™ which is divided into 4 major areas; Ethical and professional standards, Tools and inputs finvestment valuation and management, Asset valuation and Portfolio management.

Why enrol on the CFA® Program?

With only 89,000 investment professionals globally having achieved charterholder status to date, completion of the program puts you in an elite group. The designation is both career enhancing, globally recognised and well respected.

When do the CFA® exams take place?

Level I exams take place twice a year in June and December. Training towards these exams starts up to 5 months before.

How is the training delivered?

You can study at a time and place convenient to you with 7city’s high-tech online distance learning package or you can train with them in their state of the art training facilities in London.

With either option you are never alone in your studies. You will receive the full materials and support, including online access to PDF copies of class handouts via the 7c-online portal. You won’t miss out on classroom tuition or “tutor time” if you study distance as you’ll have class recordings, a tutor helpdesk and evening workshops – all the same advantages as your classroom-based peers.

1. Receive your materials and online access

Immediate online access and pre-course pack give you a head start reviewing the materials.

2. Set your plan and keep motivated

Follow the online study mentor if studying ditance as it breaks down the syllabus. This will help your self-discipline no end.

3. Start question practice early with email-a-day

Questions with answer feedback from day one. The self healing ability remedies weaker areas.

4. Participate in classes online or in person

Classes are streamed live to your desktop. Recordings also available post-class.

5. Attend a workshop

Online or in person, these sessions review key technical areas and clear up any concerns.

6. Monitor performance

Our online portal gives you at-a-glance diagnostics and performance indicators.

7. Ask our tutors a question

Call, visit or use their online helpdesk. You have the unwavering support of our team.

8. Question Practice & Mock Exam

Timed online testing with feedback consolidates knowledge. A mock perfects exam technique.

9. 2-day Revision Course

A free revision course consolidates your studies. Targeted online revision tools are also released to you.

10. Finally – exam day. Feel confident…

…you’ll be one of the best prepared candidates in the exam hall.

How can I get the best price on the IMC or CFA?

We are able to offer you qualifications cheaper than anywhere else due to our unique relationship with 7city, who is a leading qualifications provider, so you get the best training available.

If you would like to find out more about training in London or through distance learning you can get an exclusive discount if you contact 7city Learning on 0845 0727620 or email qualifications@7city.com

You must quote Benedix as a reference to claim your discount

If you would like a personal consultation with regards to qualification choices contact a consultant at Benedix.

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