Portfolio Management

This program aims to provide portfolio management teams and advisors with the formal background and global perspective that is essential to successfully manage the capital that investors entrust to them.

Over the course of three days, discussions in this program will include a broad range of topics, including asset allocation, security selection, smart beta, fixed income, and alternative assets.


The program provides participants with the ideal conditions to interact with professors and peers to reflect on timely issues related to managing and advising on portfolios. Professors will discuss timely topics related to the major asset classes – stocks, bonds, and alternatives – and foster discussions among peers with different perspectives depending on the type of mandate they have on the assets they manage.


1. Asset allocation I-II (Miguel Antón)
These two sessions start with a review of the basics of portfolio selection, starting with Markowitz’s Modern Portfolio Theory, its transition to the CAPM, and their implications. Other topics to be discussed include the importance and impact of rebalancing; the rationale of and evidence on value, small caps, momentum, and earnings announcement drift, among other anomalies; and strategies to exploit these anomalies.

2. Security selection I-II (Javier Estrada)
These two sessions start distinguishing absolute from relative performance, as well as active from passive management, and the products these distinctions generate (hedge funds, absolute return funds, mutual funds, index funds, and ETFs). Other topics to be discussed include the underperformance of active managers; reversals in performance; the direct and indirect costs of investing; the big migration away from active and into passive management; and the three pillars of proper security selection.

3. Smart beta I-II (Javier Estrada)
These two sessions start with a discussion of the three-factor model, the size and value factors, and the related evidence. Other topics to be discussed include additional factors (momentum, quality, low volatility/beta) and multifactor models; alternative weighting schemes (earnings, dividends, fundamental indexes); smart beta and its underlying rationale; and an overview of smart beta products currently in the market.

4. Fixed income I-II (Jan Simon)
These two sessions start with a refresher on the basics of fixed income investing, focusing on the term structure and term structure dynamics. Other topics to be discussed include the term structure and its relationship to macroeconomics; the predictive power of the term structure for other assets and asset classes; and a broad overview of the current situation of fixed income markets.

5. Alternative strategies I-II (Frank Hager)
These two sessions start with an overview of the historical performance of alternatives, both in general terms and in terms of specific components, such as private equity, venture capital, hedge funds, and private credit. Other topics to be discussed include whether alternatives have done their job of increasing portfolio returns while simultaneously reducing portfolio volatility; and what type of portfolios would benefit the most from alternatives, given their higher fees, limited disclosure, and restricted liquidity.

Who Is Right for This Program

  • Chief Investments Officers
  • Investments Managers
  • Portfolio Managers
  • Wealth Advisors
  • Financial Advisors
  • Pension Funds Managers
  • Endowment Managers
  • Family Offices Director and Managers


The program consists of 12 sessions over three consecutive days. The sessions are led by professors who will contribute their knowledge on the formal background and current trends in the industry, at the same time fostering the discussion among peers.

The faculty of this program is made up of professionals who are involved not only in teaching but in research and the business world.

Javier Estrada | IESE Business SchoolJavier Estrada (academic director)
Professor of Financial Management
Ph.D. in Economics, University of Illinois at Urbana-Champaign
Master in Finance, University of Illinois at Urbana-Champaign
Licenciado en Económicas, Universidad de La Plata (Buenos Aires)

Miguel Antón

Associate Professor of Financial Management
Ph.D. in Finance, The London School of Economics and Political Science
MSc. in Economics and Finance, CEMFI
Bachelor’s Degree and M.A. in Finance and Economics, Universidad de Navarra

Jan Simon | IESE Business SchoolJan Simon

Visiting Professor of Financial Management
PhD in Finance, University of Essex
ICD.D, Rotman School of Management, Canada
Postgraduate in Investment Advice, EHSAL-Brussels, Belgium
Master in Law, Katholieke Universiteit Leuven, Belgium
Bachelor of Law, Katholieke Universiteit Leuven, Belgium

Frank Hager

Co-founder and Managing Partner, OppCAP Group LLC

Admission Process

To Apply Online, send an email to Hernán Fuentes.


  • General fee: $ 7,800


May 29-31, 2019


Miami International Executive Education
Hernan Fuentes
+1 (786) 307 1015
+1 (305) 748 0862


Conrad Hotel, Brickell
1395 Brickell Ave
Miami, FL 33131



  • IESE offers you the opportunity of designing a personalized development plan. With the support of an academic adviser, you will ll select at least four focused programs that address your unique interests and learning objectives. Once completed, you will receive the IESE Executive Education Certificate and become elegible to join IESE’s Alumni Association.

    Contact an adviser – Learn more about our Focused Programs portfolio and the ones that best reflect your development needs.

     Request the Executive Education Certificate – If you have already completed four or more programs and meet the requirements, you can apply for your certificate here.

  • IESE’s Executive Education Certificate offers a series of key benefits:

     Professional guidance with an IESE adviser.

    5% discount on any future focused program.

     Possibility of becoming a member of the Alumni Association, which delivers a broad array of exclusive benefits, ranging from professional support services to access to more than 300 Alumni learning sessions per year. Delivered around the world, sessions are a chance to learn and build your network.

  • To receive the IESE Executive Education Certificate you must meet the following requirements:

    Complete at least four focused programs (in English or Spanish).

    Programs must be completed within three years.

    Programs should amount to a minimum of 13 days of learning. You can view the focused programs calendar here for a list of available programs.


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