Fixed Income Portfolio Management
Download brochure The Fixed Income Portfolio Management course provides an introduction to the management of fixed income portfolios. Starting with an overview of why and how investors allocate money to fixed income, it then delves more deeply into the many issues impacting risk and return.

The course focuses on the mechanics of portfolio construction and analysis across a whole range of instruments, including cash securities, swaps, inflation products, CDS and indices.

These issues are illustrated using examples from a real portfolio risk management system, enabling delegates to see how their actions would impact the business.

By completing the programme you will:
  • Develop a broader understanding of fixed income portfolio management
  • Understand the mechanics of portfolio construction and analysis across a whole range of instruments
  • Be able to demonstrate how to measure performance and attribution
  • Demonstrate an understanding of credit spreads and investment portfolios

Who should attend?

This course is directly relevant to members of the buy side and sell side, which deal with portfolio managers and want to understand their clients’ business in more detail. It is also valuable for those who are in a regulatory or oversight function in the market. The course assumes a basic knowledge of financial instruments and quantitative methods.

Details of next seminar

21-22 November 2019

Programme Recognition

Candidates who attend the Fixed Income Portfolio Management programme and are CFA Charter Holders qualify for 13 credit hours which can be used towards study with the CFA Institute. CFA Institute members are encouraged to self-document their continuing professional development activities in their online CE tracker.

Course Trainer
Download brochureThe course content is divided in to several topic areas, which are then broken down into multiple subtopics:

1. Investing in Fixed Income
  • The Fixed Income universe
  • FI indices
  • Cash, Securities & Derivatives
  • Why Fixed Income?

2. Risk and Return
  • Interest rate risk
  • Expected returns on Fixed Income
  • Managing duration & interest rate risk with Derivative overlays
  • Yield & Spread

3. Managing Duration for Liability Matching
  • Interest rate risk on liabilities
  • Inflation risk on liabilities
  • Asset-liability management
  • Liability immunised active management
  • Hedging strategies and “de-risking” – swaps, swaptions and other strategies

4. Fixed Income portfolios – Risk Analysis
  • Exposure and sensitivity analysis by country, sector, rating & issuer
  • Spreads risk measures – spread duration, spread deltas & spread DTS
  • Slicing and dicing portfolio risk
  • Concentration risk & default risk
  • Scenario analysis
  • Counterparty risk

5. Credit Spreads and Investment Portfolios
  • Exercise review - credit spreads and investment
  • Credit portfolio construction
  • CDS & CDS indices
  • Convertible bonds
  • Securitised products
  • Leveraged loans

6. Performance Measurement and Attribution for Fixed Income
  • Performance by risk drivers - interest rates, spreads, inflation, carry & FX
  • Performance by sector, country & rating
  • Daily chain-linked returns
  • Performance relative to benchmark – returns, contributions & attribution
Details of next courses




21-22 November 2019


ICE Education 5th Floor Milton Gate, 60 Chiswell Street, London EC1Y 4SA, United Kingdom

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27-29 May 2020


16-18 November 2020


For security reasons, delegates who have not registered in advance will not be admitted to this course.  Delegates will be required to provide photo identification on arrival, to ensure entry.


£1,650 for members and £1,950 for non-members

The course fee includes all lunches, coffee breaks and training materials.

Payment can be made by secure online credit card or by invoice.

Terms and conditions

Please click here to view our terms and conditions before registering.


Should you have any queries, please contact
29-30 November 2018

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