This course will enable you to develop your knowledge of fund operations and takes a detailed, practical look at key aspects of fund administration and accounting. It is an intermediate level course suitable for experienced fund administrators and back-office support staff.
The course is built around a fictional fund (the CLT Fund). Part 1 of the programme focuses on all aspects of a fund’s lifecycle from incorporation to liquidation, and Part 2 takes the learner through a journey from recording the Fund’s first transaction using double-entry bookkeeping to the preparation of the Fund’s first set of financial statements. It comprises the following:
Part 1 - Advanced Fund Structures, Strategies and Regulation
- Key parties in a fund
- Fund lifecycles
- Alternative investment funds, fund of funds and debt funds
- Advanced regulation
Part 2 - Advanced Fund Accounting and Analysis
- Fundamentals of fund accounting
- Accounting for specific fund transactions
- Advanced NAV, GAV and fee calculations
- Interpretation of financial statements
- Advanced taxation
The virtual classrooms are designed and delivered by industry professionals giving you an opportunity to interact with the tutors and other professionals studying the course. Other elements of the course are delivered through e-learning with interactive exercises and tasks for you to complete, supplemented with videos, podcasts and a variety of other resources.
It is recommended that you spend four to six hours per week on private study for the six months before taking the examination.
You can request a copy of the full syllabus here.
The next course dates are as follows:
- Course start date - 18 September 2023
- Virtual Classroom 1 - 15 November 2023
- Virtual Classroom 2 – 17 January 2024
- Revision Virtual Classroom – 14 February 2024
- Exam Date – 05 April 2024
After attending this course you will be able to:
- Demonstrate a detailed understanding of the functions of key parties in a fund and how they meet the needs of stakeholders
- Understand the lifecycle of different fund structures, including the processes involved in their closure, winding down and/or liquidation
- Demonstrate awareness of the topical issues surrounding alternative investment funds, fund of funds and debt funds
- Present a detailed knowledge of fund regulation and be able to interpret and apply Principal Documents, Scheme Particulars and investment restrictions
- Understand the fundamentals of fund accounting and how to account for specific fund transactions
- Carry out a range of advanced calculations in relation to a fund, including NAV, GAV, performance fees, and entry and exit charges
- Calculate earnings per share and the total expense ratio, and use ratios to analyse a set of financial statements
- Determine the impact of taxation on different fund structures and be able to carry out relevant tax calculations
The course is assessed by way of a three-hour closed-book written examination which comprises 20 compulsory multiple-choice questions (each worth 1 mark), a 40 mark compulsory accounting and valuation question, and two 20 mark essay questions chosen from a selection of three questions. The questions will be drawn from across the syllabus and candidates must achieve 50% in order to pass the Advanced Certificate.
This qualification is awarded in association with Alliance Manchester Business School, the University of Manchester and once you have successfully completed the course you will be awarded the Advanced Certificate in Fund Administration.
This course assumes a core base knowledge of the fund industry acquired through completion of the Certificate in Fund Administration or a similar course of study/practical work experience.
Enrolment onto this course includes access to the online learning platform and the examination fees.
Whilst the GTA facilitates the training for the fund qualifications, you need to enrol online directly with CLT International. Scroll down when you reach this page and you can then follow the process to enrol.