Non members : To receive news from HKSFA
Please register here
Forgot password
[CANCELLED] Asset Allocation and Portfolio Management Workshop [1] Event Code: 191216W-CEX
Date 16-Dec-2019
Time 09:30 a.m. - 5:30 p.m.
Venue 14/F, BOC Group Life Assurance Tower, 136 Des Voeux Road Central, Hong Kong
Speaker(s) Dr. Ronald Chung
Instructor - APAC
AMT Training
This seminar is qualified for 6.5 CPT hour(s), 6.5 CE hour(s), 6.5 RBV CPD hour(s)
Remarks CFA Societies Global Passport Program Eligible 
- Classrooms are not equipped with computers, participants WILL HAVE to bring their own laptops. 
- Snacks and soft drinks will be provided.
- Only Visa and Master Card are accepted for online payment.
-  The fee includes course materials. - For attendance-taking purpose, participants’ names and company names (if any) will be given to the speaker at this workshop.
- An additional administrative charge of HK$50 will be charged for participant who registers on the event day, please send email to for registration, then a payment link will be sent to you. 
HK$50 walk-in surcharge is imposed on all fees listed.
- To cope with the growing trend of going cashless, 
cash payment is not accepted.  Please ensure the online payment is successfully completed, otherwise the registration may not be processed.

Event Details Add to Calendar

We are delighted to have the presence of Dr. Ronald Chung, Instructor of AMT Training, a leading expert in financial markets and has close to 20 years of experience conducting training for Wealth Management, Investment Banking and Corporate Banking, to conduct this workshop for HKSFA.

Asset Allocation and Portfolio Management Workshop [1] will cover the following topics:

Development in asset allocation
2. Challenges in traditional optimization
3. Risk and Performance measurement

(You may also be interested in knowing more details or signing up for Workshop [2] as well, if so, please click here
.  Topics to be covered in Workshop [2] include: Active vs Passive Management, Strategic vs Tactical Asset Allocation, and Manager Selection.)

This program looks at the bigger picture of the asset allocation decision, addressing a variety of approaches that asset managers utilise, and how, as an investor, risk and performance can be analyzed objectively to help guide responsible decision making. Practical, realistic, Excel based exercises will be used to bring the content to life.
1. Developments in asset allocation 
This session will begin by looking at the theoretical underpinnings of asset allocation and portfolio diversification. Participants will learn how investment professionals deal with the challenges of asset allocation in constructing a portfolio. The seminar will cover the principles of managing a portfolio spread out across a number of investment classes.
We will use a simple portfolio optimizer to get participants to work with risk and reward constraints across a multi-asset portfolio. We relate the type of constraint back to different institutions and get the participants to think about why different institutions would choose to operate under certain constraints. The issue of how this has changed over time will be part of the discussion that surrounds the exercise, based on giving the participants
an awareness of some of the dramatic changes that have occurred in portfolio allocation since the financial crisis.
The session is very practical in nature with participants building the concepts covered in Excel models under instructor supervision. At the conclusion of the training the participants will have a sound basis in the mathematical concepts which form the basis of fund management and client money management.
Key topics:
  • Establishing criteria and selecting asset classes to be included in a portfolio
  • Volatility and return distributions of different asset classes
  • Review of historic evidence on asset class returns and correlations across asset classes
  • Concepts of covariance and correlation across asset classes
  • Practical computer-based exercises to learn how to calculate statistics for a simulated portfolio
  • Background and history of Modern Portfolio Theory (MPT)
  • Understanding risk-return trade-offs, the efficient frontier and portfolio optimization
2. Challenges to traditional optimization SAA 
Following on from the previous session we will look at the challenges that MPT has faced since it was first used as a basis for constructing portfolios, especially in light of the 2007-09 recession. Given the known shortcomings that MPT faced since its origination, we will study some alternative methods for constructing a diversified portfolio including both older and more recent approaches.
Key topics:
  • Assumptions behind MPT and practical issues in Mean-Variance analysis
  • Criticisms and defence of the MPT in light of the 2007-09 recession
  • Other approaches and extensions including the Black-Litterman approach, Monte Carlo simulation and factor optimization.
3. Risk and Performance measurement 
Having reviewed the theory behind the construction of optimal portfolios, we will spend this session studying the practical aspects an investment or portfolio manager will need to consider when implementing the desired allocation with regards to both monitoring and measuring risk along with evaluating performance and performance attribution.
Key topics:
  • Benchmarking and tracking error objectives
  • Measuring risk – calculation of common risk metrics
  • VAR
  • Sharpe ratio
  • Information ration
  • Treynor ratio
  • Measuring performance – common methodologies and appraisal measures
  • Performance attribution

About the Instructor

Dr. Ronald Chung
Instructor - APAC 
AMT Training
Dr. Ronald Chung is a leading expert in financial markets and has close to 20 years of experience conducting training for Wealth Management, Investment Banking and Corporate Banking clients.

He has delivered training courses in areas such as; Financial Products, Valuation and Modelling Techniques, Derivative Solutions and many more. Ron has worked with major multinational and Chinese financial institutions including Barclays, DBS, HSBC, Morgan Stanley, Standard Chartered Bank, UBS, China Construction Bank and China Merchant Bank.

Prior to returning to the Asia Pacific region, Dr. Chung was a Senior Consultant for the Treasury Management Association (now Association for Financial Professionals), USA. He worked with corporations and financial institutions on treasury services and product offerings. He also designed training programs for finance professionals in collaboration with university partners, including; Dartmouth College, Georgetown University, Johns Hopkins University, Stanford University and the University of Michigan. Ron has consulted for Fortune 500 clients such as AMD, AT&T, Corning, Nokia, P&G, Pfizer, etc.
In working with these institutions, he worked with various private banking groups, graduate and intern programs, and front office groups.
Ron is fluent in English, Putonghua and Cantonese.


Rating - General 
Material presented will be basic and of interest to a general audience having no background in the area.

Your Identity: