CFA® L3 — Equity Portfolio Management
Active equity styles, fundamental vs quantitative, sector rotation, long-short, market-neutral. Building equity portfolios that survive contact with reality.
Quick info
- Layer
- Professional Certifications
- Track
- CFA® Level 3
- Estimated hours
- 30 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 equity styles, fundamental vs quantitative, sector rotation, long-short, market-neutral. Building equity portfolios that survive contact with reality.
Who this is for
- CFA L3 candidates.
What you'll learn
- Active equity-style frameworks
- Quantitative vs fundamental approaches
- Long-short and market-neutral
- Sector and factor tilts
Full syllabus — 4 chapters
- 1Reading 1
Active equity styles
- Growth, value, GARP
- Style drift detection
- 2Reading 2
Quantitative equity
- Multifactor scoring
- Backtesting and overfitting
- 3Reading 3
Long-short and market-neutral
- Pair trading
- Beta-neutral construction
- 4Reading 4
Sector and factor tilts
- Risk budgeting tilts
- Implementation and monitoring
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 — Portfolio Construction
Active vs passive choice, factor investing, manager selection, ETF use, taxes, and the mechanics of building and rebalancing a real portfolio.
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.