Professional Certificate in
Investment Fund Services
Syllabus summary
Module: Fund accounting and valuation
– The role of key parties to a fund
– Types of fund investments
– Fund valuation – calculation of a net asset value
(NAV)
– Accounting for corporate actions
– Accounting for securities – equities, fixed-interest
money-market instrument and derivatives
– Discount and fixed-income securities
– Amortisation and accretion
– Fund expenses
– Accounting for paid-in share capital
– Financial statements
– International standards and financial statements
– Fund controls – the importance of calculating an
accurate NAV.
Module: Legal and regulatory aspects of
investment funds
– Introduction to the Irish legal system
– The key legal concepts of investment funds
– Types of fund structures
– The legal and regulatory investment fund environment
– The role of the Central Bank
– Establishment of a fund
– The role of the Irish Stock Exchange
– The legal requirements and investment strategies of
funds domiciled outside Ireland
– Marketing Irish funds abroad.
Module: Custody and registration
– The role of the custodian
– Custody services
– Trade settlement and failed trades
– Corporate actions
– Securities lending overview – the steps involved and
risk elements
– The custodian’s role in derivatives
– Cash management
– Correspondent banking
– Shareholder dealing and settlement
– Netting, pooling and sweeping
– Shareholder registration and compliance
– The creation and liquidation of fund shares.