Browse CFA Level 1

Chapter 14: Global and Multi-Asset Perspectives

In this section

  • International Diversification and Emerging Markets
    Explore how investing beyond domestic borders can reduce country-specific risks, enhance long-term returns, and provide unique growth opportunities in emerging and frontier markets.
  • Global Macroeconomic Factors in Asset Allocation
    A comprehensive exploration of how global economic indicators and policies influence multi-asset portfolio decisions. Examines economic cycles, leading indicators, and scenario analysis for CFA candidates.
  • Multi-Asset Strategies and Tactics
    Explore how multi-asset portfolios combine equities, bonds, real estate, commodities, and alternatives to enhance diversification and optimize returns through both strategic and tactical decision-making.
  • Cross-Asset Correlations and Macro Hedging
    Explore how cross-asset correlations evolve under different market regimes, and discover macro hedging techniques to protect multi-asset portfolios from systemic risks.
  • Regional Regulatory and Tax Considerations
    Discover how diverse regulatory landscapes and varied tax regimes shape global portfolio management strategies, including common compliance requirements and practical approaches to optimize after-tax returns.
  • Political Risk and Geopolitical Analysis
    Explore how political risk and geopolitical events can significantly reshape investment landscapes, influence asset valuations, and alter portfolio management decisions. Learn to identify, measure, and navigate these risks through practical frameworks, scenario planning, and hedging strategies.
  • Global Multi-Factor Investing
    Explore how factor investing principles extend across global markets, tackling data challenges, regional nuances, and practical strategies for building diversified, multi-factor portfolios in equities and bonds.
  • Currency Appreciation and Depreciation Effects
    Explore how exchange rate movements affect international portfolio returns, discuss hedging strategies, and uncover economic fundamentals driving currency fluctuations.
  • Local Market Anomalies and Arbitrage
    Explore how local market anomalies arise from factors like market segmentation and cultural effects, and discover how to identify, exploit, and mitigate risks associated with arbitrage opportunities across different jurisdictions.
  • International Fund Structures and Setups
    Explore the diverse range of international fund structures, including UCITS, SICAVs, and offshore vehicles, with practical insights on regulatory considerations, product selection criteria, and due diligence essentials for global portfolio management.
  • ESG Standards Across Different Regions
    An in-depth exploration of regional differences in ESG regulations, reporting, and investor priorities, highlighting practical implications for multi-asset portfolios.
  • Techniques for Global Monitoring and Analytics
    Explore essential real-time global data feeds, advanced analytics, and performance attribution techniques for multi-asset portfolios, with a focus on robust IT infrastructure and data governance.
  • Managing Transaction and Operational Risks
    Explore how to manage transaction risk and operational challenges in global portfolio management, including settlement timing, custodial risk, time zone issues, and best practices for safeguarding effective cross-border operations.
  • International Portfolio Implementation Pitfalls
    Learn to identify and mitigate common pitfalls in global portfolio construction, from home bias to liquidity risks, ensuring more effective international investment strategies.
  • Hedging Political and Economic Uncertainty
    Learn how to hedge portfolio exposures against global political and economic risks using derivatives, event-driven hedging, and a holistic risk framework.
  • Scenario Planning for Global Recession vs. Growth
    Gain a deep understanding of how to anticipate and plan for different global macroeconomic outcomes, from recessionary deflation to coordinated expansions, and apply these insights to portfolio construction and risk management.
Thursday, April 10, 2025 Monday, January 1, 1

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