Fixed Income Series - 2024

SEP
10
Tuesdays, 5:00 pm - 7:00 pm (PT)

Location: Online Workshop Series (Zoom Meeting)

Schedule: See Below

Time: 5:00 pm - 7:00 pm (PST) (10 Tuesdays)

A Professional Learning Advisory Council Sponsored Series

This educational course is designed for those seeking to gain a broader understanding of fixed income strategies. A sound understanding of fixed income markets and strategies is fundamental for all serious finance and investment professionals. This course examines the characteristics, benefits, and risks of the various fixed income strategies including treasuries, agencies, MBS, international, municipal, corporate, and derivatives. Professionals from prominent local investment firms will lead this series so attendees will obtain unique perspectives on the current market. Instructors will also share their insights on asset allocation and risk management. As a course participant, you will have access to the corresponding course recording. If you sign up as a series registrant, you will have access to all 10 course recordings. Access to course recordings expire after 60 days. 

Tuesday, Sept. 10 Introduction to Fixed Income
Speaker: Eric Souders, CFA – Portfolio Manager and Director, Payden & Rygel
The Introduction to Fixed Income is an introductory class intended for anyone seeking a sound foundation in the analysis of fixed income. The course defines Fixed Income, helps to identify, and understand typical fixed income security types, and why you should invest in Fixed Income. Topics will include defining bond components, how fixed income is part of capital markets, trading of Fixed Income Markets, indices, risk/return characteristics, and more.
Tuesday, Sept. 17 Corporate Bonds
Speaker: Brendan Bowman, CFA – Portfolio Analyst/Trader, Western Asset Management
In this Corporate Bonds class, registrants will learn about corporate markets, corporate fixed income markets, and credit analysis. The course will go over basic terms and concepts for Corporate Bonds, Debt Ratings, Overview of a Corporate Bond Decision, and more.
Tuesday, Sept. 24 Treasuries and Agencies
Speaker: Elaine Zhang, CFA – Portfolio Manager, DoubleLine Group
In this Treasuries and Agencies class, registrants will get an in-depth look at factors that drive the changes in benchmark interest rates. We will examine the supply and demand in the treasuries market, the role that the Federal Reserve plays as well as general strategies to trade rate movements. During the discussions, we will touch on key analytics critical to treasuries. In addition, we will take a closer look at inflation-linked bonds. The Agency Bonds section will cover major agency debt issuers, the pros and cons of owning agency debentures vs. treasuries, and more.
Tuesday, Oct. 1 Mortgages & MBS
Speaker: Bill Berliner – Managing Director, PennyMac Loan Services LLC
In this Mortgages class, registrants will get an overview of the agency MBS space from a practitioner’s perspective. Topics will include the rationale for investing in MBS, market structure and major participants, prepayment intuition and modeling, and an overview of different MBS products including TBA, specified pools and CMOs. This course will solidify a registrant’s understanding of Mortgages by reviewing several case studies and examples.
Tuesday, Oct. 8 Risk Management in Fixed Income
Speaker: Ramesh Pandey, PhD - Head of Credit Risk, Pacific Life
In this Risk Management in Fixed Income class, registrants will learn the fundamental building blocks of fixed Income and its relation to risk. Topics for the class will cover a basic introduction on how to manage risk, risk premiums, risk measures, risk factor models, and more. Registrants will also utilize a case study and real-world examples so they can apply this knowledge in practice.
Tuesday, Oct. 15 International Bonds
Speaker: Lynda Schweitzer, CFA – Global Bond Portfolio Manager, Loomis Sayles
In this International Bonds class, registrants will analyze the global bond market and learn about global debt, global bonds & FX, and the global bond portfolio. Topics will include projected risk and returns, historical yields, hedged yields, investment grade credit, volatility and more.
Tuesday, Oct. 22 Fixed Income Derivatives

Speaker: Peter Stutz, CFA - Managing Director, Gideon Strategic Partners

In this Fixed income Derivatives class, registrants will learn about derivatives, the derivatives market, and delve deeper into futures, swaps, and options. Topics will include bond and derivatives market trading terminology, fair value, trading, hedging, interest rates, CDX, credit events, volatility, and more.
Tuesday, Oct. 29 Municipals
Speaker: Travis Moore, CFA - Portfolio Manager and Vice President, Whittier Trust
In this Municipals class, registrants will learn Municipal Market Basics including terminology/history/structural elements, supply/demand/volatility of Municipal bonds, building a portfolio, and the opportunities and challenges with municipals.
Tuesday, Nov. 5 Investment Grade Corporate Portfolio Construction
Speaker: Naveen Tadepalli, CFA– Investment Grade Corporate Strategist, Payden & Rygel
This course will discuss client objectives, portfolio construction and portfolio monitoring. In addition, the course will review different types of clients and the roles of all the players managing the money; portfolio managers, credit analysts and traders. 
Tuesday, Nov. 12  Fixed Income Portfolios and Analytics
Speaker: Rama Malladi, PhD, CFA, CAIA, FRM - Associate Professor of Finance, California State University Dominguez Hills 

In this Fixed Income Portfolios and Analytics class, registrants will learn about coupon bonds, duration & convexity, asset allocation, portfolio strategy, structure modeling, and performance and risk measurement/management.


*Instructors and dates are subject to change. All changes will be marked in red.

Eligible for 20 CE Credits for CFA Charterholders; Course offered as a 10-class series: (10 consecutive Tuesdays).

*While the Fixed Income Series does not teach to a textbook, the following handbook, is a great resource to supplement the series:
The Handbook Of Fixed Income Securities by Frank Fabozzi

Class Handouts and Zoom Meeting Links will be provided via email every week on Tuesday by noon. There are no exams!

Registration Fees
$300 (Member) | $350 (Non-Member)

Registration Fees (Individual Classes - All Classes Available for Individual Registration)
$40 (Member) | $45 (Non-Member)

Payment Information
We accept the following:

If you prefer to pay by check please email info@cfala.org and request to pay by check. Your registration will be completed manually and you will receive an email confirmation.

Mail Check To:

CFA Society of Los Angeles
13400 Riverside Drive, Ste. 215
Sherman Oaks, CA 91423

*Credit card payments will only be accepted through the secure online registration, and not by phone or email.

Cancellations
Series Enrollee Cancellations must be made in writing and received at least 5 business days before the first day of class. All cancellations will incur a $30.00 processing fee. If enrollment is canceled after the 5-day deadline, a 50% cancellation fee will be charged. Series Enrollees will not be refunded for any individual classes they miss. Please or email info@cfala.org.

Individual Course Cancellations must be received in writing by 9:00 am the day prior to the course to receive a refund. No phone cancellations are accepted. Please email info@cfala.org.
Chair:
Rama Malladi, PhD, CFA, CAIA, FRM, PMP
CFA Society of Los Angeles has determined that this program qualifies for 20 credit hours (or 2 hours per course). If you are a CFA Institute member, CE credit for your participation in this program will be automatically recorded in your CE Diary.
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