CFA® L3 — Portfolio Construction
Active vs passive choice, factor investing, manager selection, ETF use, taxes, and the mechanics of building and rebalancing a real portfolio.
Quick info
- Layer
- Professional Certifications
- Track
- CFA® Level 3
- Estimated hours
- 35 hrs
- Chapters
- 4
- Exam body
- CFA Institute
- Cost on Trustner
- Free
The full chapter-by-chapter syllabus is published below so you know exactly what you're committing to. Individual lesson pages are being authored progressively over the coming weeks. Bookmark this page or browse all courses.
About this course
Active vs passive choice, factor investing, manager selection, ETF use, taxes, and the mechanics of building and rebalancing a real portfolio.
Who this is for
- CFA L3 candidates.
What you'll learn
- Active-passive decision
- Factor-based portfolio design
- Manager selection and monitoring
- Tax-aware portfolio management
Full syllabus — 4 chapters
- 1Reading 1
Active vs passive
- Cost, skill, and information
- Hybrid approaches
- 2Reading 2
Factor investing
- Style premia
- Implementation challenges
- 3Reading 3
Manager selection
- Quantitative and qualitative due diligence
- Performance monitoring
- 4Reading 4
Tax-aware portfolio management
- Tax-loss harvesting
- Asset-location decisions
About the exam
- Provider
- CFA Institute
Note: ~10-15% of CFA L3 weight.
The exam is administered by CFA Institute. Trustner Academy is not affiliated with CFA Institute; we provide independent preparatory educational material. See our disclaimer.
More from CFA® Level 3
CFA® L3 — Asset Allocation
Strategic and tactical asset allocation, capital-market expectations, the IPS, currency management. Heavy in the L3 essay paper.
CFA® L3 — Performance Measurement
Attribution, benchmarking, risk-adjusted returns, the GIPS Standards. Measuring what a manager actually delivered.
CFA® L3 — Derivatives & Risk Management
Hedging equity, currency, and rate risk; managing portfolios with futures, options, and swaps; tail-risk hedging strategies.
CFA® L3 — Fixed Income Portfolio Management
Liability-driven investing, immunisation, yield-curve strategies, credit strategies — fixed income from the portfolio manager's seat.