Asset Management

Multi-Asset Strategy: The Future Investment Management


This course will cover a variety of key issues in multi-asset investing. The speaker will address these issues from a conceptual perspective and share experiences in how the best and brightest in the industry dealt with these issues.


By the end of this course, you will be able to:
- Compare the products and investment strategies from balanced funds to fund of funds and now multi-asset strategies.
- Explain the role of risk factor allocation and dynamic asset allocation in managing multi-asset strategies and the key issues involved.
- Describe how risk parity products are expected to perform in different market environments and key contributors to their success in recent years.
- Describe the different approaches investors take in implementing mulit-asset strategies.


1. Why is multi-asset strategy the future of investment management?
2. What are the key aspects of multi-asset investing and how is it different from the fund of funds or balanced funds?
3. Is risk parity a silver bullet or a bridge too far?
4. How to set proper risk and return expectations and evaluate the performance of multi-asset strategies?
5. What are some of the industry best practices in managing multi-asset strategies?


1. Institutional Asset / Product Manager
2. Financial Advisor in Management level / Senior Financial Advisor


In his capacity as director of content for Asia Pacific at CFA Institute, Larry Cao conducts original research and develops educational products with a focus on the investment industry. Larry has 20 years of experience in the investment industry. Prior to joining CFA Institute, Larry worked at HSBC as senior manager for the Asia Pacific region. He started his career at the People’s Bank of China as a USD fixed-income portfolio manager. He also worked for US asset managers Munder Capital Management, managing US and international equity portfolios (winning a Lipper Award in the process), and Morningstar/Ibbotson Associates, managing multi-asset investment programs for a global financial institution clientele. Larry has been interviewed by a wide range of global and regional media outlets, such as Bloomberg, CNN, the Financial Times, South China Morning Post, and the Wall Street Journal. He is also a frequent speaker at conferences on topics such as fintech and multi-asset investing. He has led the development of a number of CFA Institute publications on these subjects, including Multi-Asset Strategies: The Future of Investment Management and the CFA Institute FinTech 2017: China, Asia and Beyond report. Larry graduated from the University of Notre Dame with a masters of business administration degree. He was also a visiting scholar at the MIT Sloan School of Management.


2018年11月8日, 星期四 (6:30下午 - 9:00下午)
SFC:2.50, PWMA:2.50