Learning Outcome Statements

1. Alternative investments

a. compare alternative investments with traditional investments;

b. describe categories of alternative investments;

c. describe potential benefits of alternative investments in the context of portfolio management;

2. Hedge funds

d. describe hedge funds, private equity, real estate, commodities, infrastructure, and other alternative investments, including, as applicable, strategies, sub-categories, potential benefits and risks, fee structures, and due diligence;

e. describe, calculate, and interpret management and incentive fees and net-of-fees returns to hedge funds;

f. describe issues in valuing and calculating returns on hedge funds, private equity, real estate, commodities, and infrastructure;

3. Private equity

d. describe hedge funds, private equity, real estate, commodities, infrastructure, and other alternative investments, including, as applicable, strategies, sub-categories, potential benefits and risks, fee structures, and due diligence;

e. describe, calculate, and interpret management and incentive fees and net-of-fees returns to hedge funds;

f. describe issues in valuing and calculating returns on hedge funds, private equity, real estate, commodities, and infrastructure;

4. Real estate

d. describe hedge funds, private equity, real estate, commodities, infrastructure, and other alternative investments, including, as applicable, strategies, sub-categories, potential benefits and risks, fee structures, and due diligence;

e. describe, calculate, and interpret management and incentive fees and net-of-fees returns to hedge funds;

f. describe issues in valuing and calculating returns on hedge funds, private equity, real estate, commodities, and infrastructure;

5. Commodities and other altenative investments

d. describe hedge funds, private equity, real estate, commodities, infrastructure, and other alternative investments, including, as applicable, strategies, sub-categories, potential benefits and risks, fee structures, and due diligence;

e. describe, calculate, and interpret management and incentive fees and net-of-fees returns to hedge funds;

f. describe issues in valuing and calculating returns on hedge funds, private equity, real estate, commodities, and infrastructure;

6. Risk management overview

g. describe risk management of alternative investments.