22nd October, Sydney | 28th October, Melbourne
WORKSHOP
UNIT PRICING 1011 Day Workshop
Days
Hours
Minutes
Seconds
About The Event
This workshop is designed to raise awareness of the issues associated with unit pricing and would be beneficial for staff at all levels from Senior Manager to entry level graduates

UNIT PRICING 101 – 1 Day Workshop:

Unit pricing is often regarded as the single biggest operational risk within an organisation. The regulators have quoted that “The management of unit pricing is a good indicator of the overall framework for operational risk management”.This workshop is designed to raise awareness of the issues associated with unit pricing and would be beneficial for staff at all levels from Senior Manager to entry level graduates. The workshop highlights issues from both the perspective of those striking unit prices and from those who invest in unitised vehicles including superannuation accounts. It is equally beneficial for unit pricing practitioners wishing to learn from experiences within similar organisations and those wishing to gain awareness of this critical operational function.

The Content of the Workshop Includes

01. Unit Pricing Fundamentals Including

  • Basic process
  • Fund of fund structures
02. Examples of Actual Unit Pricing Errors in large organisations,
how they happened and how they may have been prevented.

03. The Issues and Risks with Unit Pricing Including

  • Asset valuations
  • Cash flows
  • Arbitrage opportunities
04. Building and Applying the Five Steps of a Strong Unit Pricing Governance Framework
UNIT-PRICING-101-2
KYLE RINGROSE-PROFILE

Workshop Leader:

Kyle Ringrose

Principal, Athena IOC

 

Kyle has had a long and successful career in financial services in London, Sydney and Brisbane. He has held senior roles within major superannuation funds and investment management organisations and has spent decades observing how institutional investment decisions are made in practice.

Kyle now focuses on education, consulting and industry speaking. He holds workshops that combine deep institutional knowledge and independent research that make complex ideas accessible without oversimplification

Workshop Timing: 9:00 am – 4:45 pm

01

Unit Pricing Fundamentals

  • Basic process
  • Benefits to investment managers and unit holders
  • Fund of fund structures – benefits and risks

02

Evolution of Unit Pricing

  • Practices before and after the introduction of RG94, “The Guide”
  • Why RG94, The APRA/ASIC Guide to Good Practice was introduced
  • Examples of real-life historical errors

03

The Issues and Risks with Unit Pricing

  • Asset valuations
  • Units on issue
  • Significant cash flows
  • Back dated transactions
  • Fee accruals
  • Spreads (transaction costs)
  • Cum and ex pricing
  • Unit pricing arbitrage including real life examples
  • Historic or forward pricing
  • Fund of funds
  • Tax provisioning

04

Ensuring the Integrity of Unit Pricing

  • Compliance with the law
  • Safeguarding the assets and rights of investors
  • Monitoring service provider performance
  • Ensuring valuations are equitable and reasonable

05

Remediation Policy and Process

  • Definition of an error
  • Unit holder compensation criteria
  • Reporting
  • Calculating compensation amounts
  • Cost and/or benefit recovery

06

A Detailed Example of a Unit Pricing Control Framework

  • Unit Pricing Principles
  • Unit Pricing Policies
  • Controls
  • Monitoring
  • Reporting

Some Feedback From Prior Unit Pricing Workshops

“Very invaluable, comprehensive, engaging, relevant and professional.”

HESTA

“Loved the structure of the workshop throughout the day. Great examples sharing about unit pricing controls and monitoring.”

Vanguard

“Kyle is a great presenter, the workshop is not dry at all, lots of interaction.”

J.P. Morgan

“Kyle is an excellent speaker, interactive and personable. I expected the subject matter to be dry however the workshop was very interesting.”

NAB

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