IMC case studies
IMC · Put your knowledge to work in context.
The Certificate in Investment Management (IMC) is a professional qualification developed, delivered and awarded by CFA UK, the UK society for the investment profession. CFA UK describes the IMC as a credential that "has helped investors turn the career they want into the one they have for 30 years - and counting," which places it among the longer-established entry points to the UK investment industry. The IMC case studies are 5 cases and about 3,217 words.
1Matching a Fixed Liability with Two Bonds
A UK defined-benefit pension scheme has a single £10 million lump-sum payment due on 31 December 2029, exactly five years from today. The trustees want to fund it with a buy-and-hold bond portfolio and are choosing between two sterling investment-grade bonds.
696 words, about 3 min2Deciding Whether to Terminate an Active Manager
An investment committee is reviewing a UK equity income manager after a difficult period. The mandate is benchmarked to the FTSE All-Share.
615 words, about 3 min3Concentrated Holding and a Leveraged Note
A 58-year-old client has £1.4 million of investable assets: £600,000 in shares of the listed company where she works, £500,000 in cash and ISAs, and £300,000 in a global equity fund. She has a £150,000 repayment mortgage and wants to retire at 62 on about £45,000 a year.
626 words, about 3 min4Redemptions in an Open-Ended Property Fund
A £500 million open-ended UK property fund holds 80% in directly held commercial property, 15% in listed property securities, and 5% in cash. Over one month it receives redemption requests equal to 8% of net asset value.
649 words, about 3 min5Currency Hedging for a Global Bond Portfolio
A UK charity has a £50 million global bond portfolio and a known sterling liability in seven years. The portfolio is 60% US dollar, 25% euro, and 15% Japanese yen.
631 words, about 3 min