KINGS GLOBAL CAREER ACADEMY

trainings@kingscareers.org
+971558208950 / +971544744145

· DUBAI · LONDON · SINGAPORE · MUMBAI

Dealing With Fallen Angel Risk

NAME OF THE COURSE
Dealing With Fallen Angel Risk
 
CERTIFICATION
Dealing With Fallen Angel Risk
 
COURSE OVERVIEW
Fallen Angel risk results from the possibility and price impact of bond downgrades from investment grade (IG) into high yield (HY). We find that the price deterioration experienced by bonds of future Fallen Angels is significantly greater than the price deterioration experienced by bonds of future IG downgrades on average. As of Q1 2019, over 50% of investment-grade bonds in the US and globally by amount outstanding are rated Baa, so that a near-term recession could cause the incidence of Fallen Angels to rise substantially. In light of these circumstances, we test the early warning power of the CreditEdge Deterioration Probability (DP) metric for Fallen Angel downgrades and find it well-suited for this purpose. DP quintile portfolios exhibit monotonically increasing rates of Fallen Angel downgrades, and we find that historical underperformance by high DP versus low DP bond portfolios is exacerbated during market downturns. 
 
TRAINING DURATION
Total Training Hours: 22 Hours
Training Duration: 1 Week
Total Training Days: 4-5 Working Days
 
TRAINING SCHEDULE
Weekdays (Sunday to Thursday)
Regular Sessions: 4 – 6 Hrs Per day (9 am to 2 pm or 3.00 pm to 9.00 pm)
Food & refreshments Included
Weekends (Friday & Saturday)
Fast Track Sessions: 8 Hours per day (9 am to 5 pm)
Food & refreshments Included
 
CERTIFICATION
Globally recognized certificate from “Kings Global Career Academy”
 
TEST
No
 
LEARNING AIDS
Yes
 
COURSE MATERIAL
Hard & Soft Copies of Study Material
 
LANGUAGE OF INSTRUCTION
English
 
INSTRUCTOR HELPLINE
Yes
1. Email
2. Social Media (For Emergency requirements)
 
REGISTRATION REQUIREMENTS
1. Passport Copy
2. Curriculum Vitae
3. Passport size photographs
4. Course Fee
 
MODE OF PAYMENT
Cash / Cheque / Credit Card / Bank Transfer.
 
COURSE ELIGIBILITY 
  • All Government Top-level Officers
  • Top-level analysts
  • Top-level advisors
 
COURSE BENEFITS WITH COMPLETE UNDERSTANDING
  • All who are interested
  • Investment Effectiveness
  • Procurement
  • Integrity
  • Action Plans
 
COURSE CONTENTS
 
A Focus on Quality May Enhance Performance
  • Market Realist – Fallen angels have historically offered higher risk-adjusted returns
  • Market Realist – Case for investing in fallen angels
  • Antero Resources
  • Antero’s proved reserves
 
Muddier waters to wade: Overview
  • Market drivers: 
  • Performance
  • Flows & Positioning:
 
Market moves
  • Mixed signals
  • Earnings exceeding expectations
  • Monetary policy
 
Relative value themes
  • Large caps lead & domestic exposures dominate
  • Long growth, cyclical endure
  • Best of the worst for EM & EAFE
 
Money in motion
  • Aggregate flows
  • Growth & value sees outflows
  • Investors seeking cyclical exposures
  • International equity flows mixed & weak