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Program Overview
Fixed-income investing and risk management have become even more important as near-zero interest rates fade into memory. Growing credit markets, along with higher interest rates and inflation, have brought with them a variety of challenges for institutions and investors. Borrowing is more costly, asset values are reduced, and defaults are expected to rise. But accompanying these challenges are opportunities. Higher debt yields and new fixed-income products offer more attractive investment options. More active fixed-income markets provide more scope for hedging and debt management.
Fixed Income and Credit Market Investing empowers participants to address the challenges and to take advantage of the opportunities. Wharton finance faculty and industry experts combine academic research with proven strategies to deliver a comprehensive program that will equip participants with the knowledge, tools, and confidence to engage in fixed-income investing and risk management.
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Date, Location, & Fees
If you are unable to access the application form, please email Client Relations at execed@wharton.upenn.edu.
April 2 – 5, 2024Philadelphia, PA$9,850
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- Program Experience
- Who Should Attend
- Faculty
Program Experience
Highlights and Key Outcomes
In Fixed Income and Credit Market Investing you will:
- Understand and gain confidence working with fixed-income instruments including bonds, loans, and structured products
- Learn how to identify and quantify the different risks associated with investing in fixed-income instruments
- Execute and analyze liability-driven management strategies in several different contexts
- Construct hedging strategies for different risks including portfolio rebalancing and derivatives usage
- Learn about different fixed-income markets, how capital is raised in each, how they are related, and how they fit into the broader economy
- Put yourself in the role of a fixed-income portfolio manager responding to varying macroeconomic conditions
- Assign credit ratings to companies based on your own credit analysis
- Understand bond indices and the implications of migration in and out of the index for investors
- Explore the growing private credit space and its attendant risks
- Learn about structured products such as collateralized loan obligations (CLOs) and credit default swaps (CDS)
Experience & Impact
Fixed Income and Credit Market Investing will feature a mix of classroom discussion, small-group breakout sessions, individual exercises, and external activities aimed at optimizing the learning experience. Participants will actively engage in a variety of decision-making scenarios including:
- Bond portfolio construction and management at a hedge fund
- Liability-driven management at an insurance company and a pension fund
- Capital-structure planning at a manufacturing firm
- Liquidity management at a tech company
- Private credit investing by an institutional investor
- Managing interest-rate risk at a commercial bank
The emphasis throughout the week is on active learning in which program participants are always engaging with the material, the teaching staff, and one another. Additionally, sessions and candid interactions with industry speakers will bring an insider’s perspective on how the underlying concepts play out in the debt markets.
Convince Your Supervisor
Here’s a justification letter you can edit and send to your supervisor to help you make the case for attending this Wharton program.
Due to our application review period, applications submitted after 12:00 p.m. ET on Friday for programs beginning the following Monday may not be processed in time to grant admission. Applicants will be contacted by a member of our Client Relations Team to discuss options for future programs and dates.
Who Should Attend
This program is specifically designed for current, aspiring, and emerging leaders throughout the capital-markets ecosystem, including:
- Executives from commercial banks, pensions, hedge funds, insurance companies, family offices, asset managers, or endowments
- CFOs and CIOs of companies as well as other C-level executives in the vicinity of asset management
- CFOs, treasurers, and other executives engaging with debt capital markets or with funding responsibilities
- Entrepreneurs whose firms may be beyond the growth stage and now want to tap venture debt or secure a bank loan
- Portfolio managers at pension funds, sovereign wealth funds, and other institutional investors — capital allocators, broadly speaking
- Private wealth advisors for high-net-worth individuals and families as well as high-net-worth individuals who manage their own money
- CPAs, attorneys, and others involved in institutional advisory services
Fluency in English, written and spoken, is required for participation in Wharton Executive Education programs.
Plan Your Stay
This program is held at the Steinberg Conference Center located on the University of Pennsylvania campus in Philadelphia. Meals and accommodations are included in the program fees. Learn more about planning your stay at Wharton’s Philadelphia campus.
Group Enrollment
To further leverage the value and impact of this program, we encourage companies to send cross-functional teams of executives to Wharton. We offer group-enrollment benefits to companies sending four or more participants.
Faculty
Michael Roberts, PhDSee Faculty Bio
Academic Director
William H. Lawrence Professor; Professor of Finance, The Wharton School
Research Interests: Applied econometrics, corporate investment, capital structure
Date, Location, & Fees
If you are unable to access the application form, please email Client Relations at execed@wharton.upenn.edu.
April 2 – 5, 2024Philadelphia, PA$9,850
Download the program schedule, including session details and format.
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Hotel Information
Fees for on-campus programs include accommodations and meals. Prices are subject to change.
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Related Programs
- Distressed Asset Investing and Corporate Restructuring
- Advanced Finance Program
Contact Us
Schedule a personalized consultation to discuss your professional goals:
+1.215.898.1776
execed@wharton.upenn.edu
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