Free CFA Level III: Portfolio Management Lessons

All 31 CFA Level III: Portfolio Management lessons are free to read, each with worked examples, audio narration, and per-topic practice. No signup required.

FreeFellow LLC is a CFA Institute Prep Provider.

Index-Based Equity Strategies

• Index-Based Equity Strategies (23 min)

Active Equity Investing

• Active Equity Investing: Portfolio Construction (16 min)
• Active Equity Investing: Strategies (16 min)

Liability-Driven & Index-Based Strategies

• Liability-Driven and Index-Based Strategies (20 min)

Case Study: Endowment

• Case Study in Risk Management: Endowment (34 min)

Credit Strategies

• Fixed-Income Active Management: Credit Strategies (22 min)

Trade Strategy & Execution

• Trade Strategy and Execution (15 min)

Yield Curve Strategies

• Yield Curve Strategies (21 min)

Asset Allocation

• Capital Market Expectations: Framework and Macro Considerations (36 min)
• Capital Market Expectations: Forecasting Asset Class Returns (39 min)
• Overview of Asset Allocation (34 min)
• Principles of Asset Allocation (48 min)
• Asset Allocation with Real-World Constraints (24 min)

Portfolio Construction

• Asset Allocation to Alternative Investments (26 min)
• Overview of Equity Portfolio Management (30 min)
• Overview of Fixed-Income Portfolio Management (39 min)
• Portfolio Management for Institutional Investors (27 min)
• Overview of Private Wealth Management (30 min)
• Case Study: Sovereign Wealth Fund (32 min)
• Trading Costs and Electronic Markets (36 min)

Performance Measurement

• Overview of the Global Investment Performance Standards (28 min)
• Investment Manager Selection (41 min)
• Portfolio Performance Evaluation (41 min)

Derivatives & Risk Management

• Currency Management: An Introduction (32 min)
• Options Strategies (31 min)
• Swaps, Forwards, and Futures Strategies (32 min)

Ethical & Professional Standards

• Application of the Code and Standards: Level III (15 min)
• Asset Manager Code of Professional Conduct (15 min)
• Code of Ethics and Standards of Professional Conduct (15 min)
• Guidance for Standards I, II, and III (Professionalism, Integrity of Capital Markets, Duties to Clients) (12 min)
• Guidance for Standards IV, V, VI, and VII (Duties to Employers; Investment Analysis, Recommendations, and Actions; Conflicts of Interest; Responsibilities as a CFA Institute Member or CFA Candidate) (11 min)