Portfolio Management for Institutional Investors
Free CFA Level III: Private Wealth lesson in Portfolio Construction. 27 min read, ~4,023 words.
DB pensions: funded status drives risk capacity. Endowments: real return must exceed spending rate plus costs to preserve purchasing power. Foundations: the 5% minimum distribution is a binding floor. Insurers: liability-driven, duration-matched, regulatory-capital-constrained. Banks: short-duration, credit-sensitive, Basel-constrained.
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What this lesson covers
- Content
- Example 1
- Example 2
- Example 3
- Common Mistakes
- Key Takeaways
- Exam Shortcuts
Learning objectives
- institutional investors
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