Portfolio management for investors and debtors

From theory to risk and return calculation to policy and performance measurement

Dates & Place

04.10.2024 in Vienna




1 day


EUR 1.750,- plus VAT.

Bernhard Kastner

Bernhard Kastner

Senior Manager

Schwabe, Ley & Greiner


Investments in stocks, bonds or funds require a systematic approach to return targets and risk appetite. But debtors are also confronted with cost targets and risks in financing. Since the treasurer's task is mostly to define the corresponding targets, the seminar addresses the tension between risk and return (in the sense of Markowitz's portfolio theory), possible portfolio targets and performance measurement. Furthermore, the question is addressed which components a complete guideline must contain in order to fulfill this task.

Main topics


  • What are the tasks of the cash manager in the company?
  • What are the minimum standards to be taken into account in the organizational structure & process organization?
  • What are the differences in the accounting or treasury perspective? Which business management approaches do you need to understand?
  • What are the requirements vis-à-vis banks?
  • What are the current trends in cash management for large and small companies?

Risk and return

  • How can risk be measured?
  • How is portfolio risk (value-at-risk, VaR) calculated and what role do correlations play?
  • How can the loss probability be calculated?
  • What is the relationship between risk and return - what does Markowitz's portfolio theory say about this?

Portfolio goals

  • What goals do debtors pursue?
  • What are the goals of investors?
  • Which instruments fit the purpose of a plant?
  • What influence does the investment horizon have on the investment decision?


  • What are the components of an investment (or debt) portfolio policy?
  • What risks are there that should be regulated and what opportunities or revenue streams do they contain?
  • What is a benchmark and what is it used for?

Performance measurement

  • How is a capital-weighted return calculated and what does it say?
  • How do we calculate a time-weighted return and what does it say?
  • How are the Sharp ratio, risk-adjusted performance and information ratio ratios determined and what can be derived from them?

Group of participants

Employees and managers who work in or are responsible for risk management, as well as corporate client advisors from banks who want to learn about their clients' day-to-day business from their perspective


After this seminar, participants will be able to calculate a value-at-risk as well as a loss probability, know different targets for investment and debt portfolios, know how to design a corresponding policy, and be able to calculate performance using various metrics.

Do you have any questions?

Marc Baumgärtner

Marc Baumgärtner

Seminar organization

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