Investment Funds Xplained
Available Online
The first upcoming dates or use "All Dates"

English 31 March & 1 April 2022 - Agoria Bluepoint Brussels BE - Brussels (Price: 1460 Euro )
Dutch 08 & 09 June 2022 - Agoria Bluepoint Antwerp BE - Antwerp (Price: 1460 Euro )
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PROGRAM OUTLINE for this 2 day course in English

With the uncertainty of today's financial markets, investors often ask themselves where they can invest to protect themselves against market volatility

Although there are no simple or guaranteed solutions to this problem, investment funds are interesting financial instruments that give investors an interesting choice of investments regardless of how markets perform.

Investing in funds, however, can be complex primarily because of the large number of funds (135,000 funds in the world) from which investors can choose. The objective of this 2 day course is to provide participants with a good understanding of investment funds, their characteristics and their performance to help investors and financial professionals select the funds that best suit their needs.

You will learn about :   

  • The history and development of investment funds
  • Creating a fund, applying the fund management process, developing fund strategies
  • Distinguishing between funds based on domicile, asset types, structure
  • Understanding fund markets, their players and their operations
  • Selecting a fund, reading fund documentation, understanding fund performance and investor protection

Recommended background

Investors who want to gain a good understanding of funds and their characteristics; people working in financial services who need to understand investment funds.

What you will learn

The course is practical and helps participants achieve a good understanding of the different types of funds, their characteristics, their performance and the terminology used in the fund industry. In the course, you will learn how a fund is constructed, managed and operated to achieve the best possible performance. You will also learn how to understand fund documentation and judge how a fund performs. Actual fund data from the most prominent fund managers is used in the course, allowing you to compare and contrast different types of funds.

Course format

Besides the course materials provided on the day, all course resources are available online, including audio and video material from industry experts. 

Practice-based learning and critical engagement is a key theme through all our courses allowing delegates to acquire the needed skills and techniques to be applied as soon as they are learned and developed.




Introduction to Investment Funds

  • What is an investment fund?
  • History of investment funds
  • Development of fund markets
  • Size of fund markets today
  • Advantages of funds


How Investment Fund are created

  • The fund management process (designing a new fund, establishing investor objectives)
  • Principles of portfolio construction (asset selection, portfolio risk)
  • Portfolio evaluation (CAPM, alpha, beta, tracking error, R2, benchmarks)
  • Investment strategies ("long only" funds (growth, income, geographical, sectors) vs. hedge funds (directional vs. non-directional, global macro, long/short, fixed income arbitrage)
  • Risk in investment funds (market risk, credit risk, liquidity risk, operational risk)


Characteristics of Investment Funds

  • Fund structures (incorporated vs. unincorporated; open-end vs. closed end)
  • Fund domicile (domestic funds, international funds)
  • Asset types (equities, bonds, derivatives, real estate, private equity, money-market funds, balanced funds)
  • Legal structures (UCITS funds, alternative funds)
  • Fund types (umbrella funds, index funds, exchange-traded funds, hedge funds)


Day 2:


How do Funds Work?

  • Players in fund markets (investors, fund managers, portfolio managers, distributors, fund accountants, transfer agents, custodian/depositaries)
  • Fund operations (NAV calculation, subscriptions, redemptions, switches, shareholder services, dividends, fund liquidations)


Investing in Funds

  • Reading fund documentation (prospectus, KIID, fact sheet)
  • Judging fund performance
  • Selecting a fund (investor's risk appetite, fund manager, currency, investment strategy)
  • Fund regulations and investor protection (UCITS, AIFMD, MiFID)


The Future of Investment Fund Markets



All Course Dates



When: 31 March & 1 April 2022

Where: Agoria Bluepoint Brussels Boulevard Auguste Reyers 80, 1030 BE - Brussels, Belgium
Investment Funds Xplained in: English

Timing: From 09:00 till 17:00
Price: 1460 Euro  (VAT Exclusive)
Early booking discount: A 10%  discount will be applied if you register before or on 30/01/2022


When: 08 & 09 June 2022

Where: Agoria Bluepoint Antwerp Filip Williotstraat 9, 2600 BE - Antwerp, Belgium
Beleggingsfondsen Xplained in: Dutch

Timing: From 09:00 till 17:00
Price: 1460 Euro  (VAT Exclusive)
Early booking discount: A 10%  discount will be applied if you register before or on 09/04/2022

Participant feedback

*** Very good course, teacher, and approach. Material available on-line prior to the course + request to the participants about their expectations from the course.

*** Congratulations! Very well done. Nothing more to add.

*** I really appreciated the empathy and skills of the lecturer Bruno Bosch. Also, the size of the group (7 persons) was perfect to have the necessary interactivity throughout the course.

*** I strongly recommended this training to my colleagues as I found it very useful.

*** It was exceptional to have a lecturer with profound knowledge on the topic so that the level of discussion could go further than the simple basics of valuation.

Learn the way that suits you most!

Course Lecturers

Paul Kleinbart

Paul Kleinbart is a multilingual trainer and consultant, specialising in financial services and management. During more than 20 years, he created, operated and managed a wide variety of financial services in diverse areas that range from securities settlement and custody to investment fund administration. Since May 2001, Paul’s primary focus has been on transferring his knowledge of financial services and management through training and consulting.  

Etienne Beckers

Etienne worked in the Asset Management Industry for over 30 years, with experience in the front office (Equity, Balanced Portfolios, Multi Management) and Middle Office. In his last role he was heading Fund Administration and Mandate Accounting, with teams in Brussels and Luxembourg doing controls on mutual funds and institutional mandates that are managed by BNP Paribas IP worldwide. He is an experienced educator and presenter.  


Books we studied for you

The Theory and Practice of Investment Management: Asset Allocation, Valuation, Portfolio Construction, and Strategies - Frank J. Fabozzi
The Theory and Practice of Investment Management: Asset Allocation, Valuation, Portfolio Construction, and Strategies - Frank J. Fabozzi

An updated guide to the theory and practice of investment managementMany books focus on the theory of investment management and leave the details of the implementation of the theory up to you. This book illustrates how theory is applied in practice while stressing the importance of the portfolio construction process.  

Fund Managers: The Complete Guide - Matthew Hudson
Fund Managers: The Complete Guide - Matthew Hudson

Fund Managers: The Complete Guideis an all-encompassing overview of fund and asset managers around the globe. The only comprehensive guide on the subject, this book covers both the fund manager and the market as a whole while providing insights from current and future fund managers and leaders in the technology industry from the UK, EU and US.  

Fund of Funds Investing: A Roadmap to Portfolio Diversification - Daniel A. Strachman, Richard S. Bookbinder
Fund of Funds Investing: A Roadmap to Portfolio Diversification - Daniel A. Strachman, Richard S. Bookbinder

Valuable guidance on fund of funds investing While capital markets have become more complex, investors are still looking to increase portfolio performance without increasing risk. Fund of funds investing is one such avenue to pursue. This practical guide provides you with the tools needed to understand and evaluate your investments in this often opaque area of finance.  

Companies who attended our courses


AG Insurance
Allianz Benelux
Argenta NV
AXA Belgium
Baloise Insurance
Banca Monte Paschi Belgio S.A.
Bank De Groof
Banking Association (Kosovo)
Belfius Investment Partners
BNP Paribas Fortis
Bpost Bank
Buy Way
CBC Bank
Celio Finance SPRL
Delen Private Bank
Delta Lloyd Life
Deutsche Bank AG
DKV Belgium
Ethias SA
Euler Hermes Services
Euroclear Bank SA/NV
Euroclear Investments
Europ Assistance
European Investment Bank - EIB (Luxembourg)
European Union - EDFIMC / ElectriFI
Flanders Investment & Trade
Gras Savoye Belgium
Incofin Investment Management
ING Bank België
KBC Bank
Ministry of European Integration (Kosovo)
National Bank of Belgium
NN Insurance Belgium
Record Bank
Société Générale Private Banking
The Royal Bank of Scotland (RBS)
Triodos Bank
VGD International -Audit & Tax
Wolters Kluwer Financial Services
Zurich Insurance plc, Belgium branch
Vanbreda International
Afton Chemical SPRL
Air Liquide
Allnex Belgium SA/NV
ANL Plastics
Arcelor Mittal ( Belgium & Luxembourg)
Axalta Coating Systems 
BASF Antwerpen
BASF Belgium Coordination Center
Beaulieu International Group
Borealis Polymers NV
Bridgestone Europe SA
CNH Industrial Belgium NV
Cofely Fabricom
Cytec Belgium
DOMO Chemicals (Germany)
Dow Corning
Electrolux Appliances AB - EMA- EMEA (SEE)
Engineered Pressure Systems International
European Owens Corning Fiberglas
Fost Plus
GDF Suez
Griffith Foods
Hamon & Cie
Heraeus Electro-Nite International NV
Jacobs Belgium
Milliken Europe
Niko Group
NXP Semiconductors - Prodis  (Netherlands)
SPX Cooling Technologies
Synventive Molding Solutions (Germany)
Vinçotte International
VPK Packaging Group NV
Yara Belgium NV
Antwerp World Diamond Centre
AVEVE Biochem NV
Carrefour Belgium
Delhaize Corporate Group
Abbott Logistics B.V. (Netherlands)
AbbVie (Canada)
Agfa HealthCare NV
AZ Sint-Blasius
Baxter International (Austria)
Catalent Pharma Solutions
CinnaGen (Tehran)
Datwyler Pharma Packaging International
Groep OZ ESV
Landelijke Christelijke mutualiteit (LCM)
Mutualités Libres: MLOZ
Novartis Pharma
SA Bristol- Myers Squibb Belgium NV
Stryker (Netherlands)
Terumo BCT Europe NV
Zorgbedrijf Antwerpen
AW Europe
Belgian Nuclear Research Centre (SCK-CEN)
Corelio Printing
De Persgroep Publishing nv
EDF Luminus
Elia System Operator
Engie Electrabel NV/SA
Eni Gas & power
Fluxys Belgium
Itineris NV
Agentschap Innoveren en Ondernemen
Europees Parlement
Ministry of European Integration
National Agency for Protection of Personal Data
Nationale Loterij
SD Diensten NV (SD Worx)
SESAR Joint Undertaking
Stad Antwerpen
Stadsbestuur Harelbeke
Syntra Brussel
UGent - FBW
Vrije Universiteit Brussel (VUB)
Acturus sprl
ARC Europe
BIA Africa
Bia Overseas
Brooser BE Operations 
Cipal Schaubroeck
Computer Task Group
Deloitte Accountancy
Egemin International
Enhesa International
FIS (former Clear2Pay)
Interel Group
K&L Gates
Matexi NV
Pricewaterhouse Coopers
PwC Tax Consultants
Vinçotte International sa
Alstom Belgium
ARC Europe 
Brussels Airport Company
De Lijn
D'Ieteren Auto
Gemeentelijk Havenbedrijf Antwerpen
Globachem nv
GSC Greensea Chartering 
HONDA Motor Logistics
Neovia Logistics
PSA Antwerp nv
Retail & Wholesale
Seatrade Reefer Chartering
Thalys International
Trimble T&L
Volkswagen Group Services
Wallenius Wilhelmsen Logistics Zeebrugge NV
Witzenmann Benelux nv

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