CMFD
Fixed Income & Bonds
Learn how fixed-income investments work in Pakistan, including PIBs, T-Bills, Sukuk, National Savings Schemes, and corporate TFCs, and discover how to build a steady-income portfolio.
Beginner
English
0
Enrolled
1
Section
12
Lessons
About this course
Fixed Income & Bonds is an intermediate micro-course designed for investors seeking predictable income and greater understanding of fixed-income investments in Pakistan.
You will learn the fundamentals of bonds, coupons, yields, prices, and maturity, as well as the relationship between interest rates and bond prices. The course covers PIBs, T-Bills, GoP Ijarah Sukuk, Naya Pakistan Certificates, National Savings Schemes, and corporate TFCs.
You will also learn about credit ratings, duration, yield curves, and the bond-laddering strategy. Through practical activities and a final portfolio capstone, you will apply these concepts to construct a diversified fixed-income portfolio designed around income, liquidity, and risk considerations.
What you'll learn
- Understand the fundamentals of bonds and fixed-income investments.
- Explain face value, coupon, yield, price, and maturity.
- Understand the inverse relationship between bond prices and yields.
- Differentiate between PIBs, T-Bills, Sukuk, and National Savings Schemes.
- Understand Naya Pakistan Certificates and their basic structure.
- Evaluate corporate TFCs using credit ratings and risk considerations.
- Understand duration and interest-rate risk.
- Interpret Pakistan's government securities yield curve.
- Apply bond-laddering to manage liquidity and reinvestment risk.
- Construct a fixed-income portfolio based on income needs, risk, and investment horizon.
Requirements
- Basic understanding of investing and financial markets is recommended.
- No advanced mathematics or prior bond-market experience is required.
- Internet access and access to the IFMP eLearning platform.
- Basic understanding of percentages and simple calculations is helpful.
- No real-money investment is required to complete the course.
Curriculum
1 section · 12 lessons
Fixed Income & Bonds 12 lessons
- Lesson 1: Your savings account is losing you money
- Lesson 2: Bond fundamentals — price, yield, coupon, maturity
- Lesson 3: The price-yield inverse relationship
- Lesson 4: PIBs and T-Bills — how to buy them
- Lesson 5: GoP Ijarah Sukuk and Naya Pakistan Certificates
- Lesson 6: National Savings Schemes — Behbood, SSC, DSC, RIC
- Lesson 7: Corporate TFCs — structure and credit ratings
- Lesson 8: Duration and interest rate risk
- Lesson 9: Reading Pakistan's yield curve
- Lesson 10: The laddering strategy — step-by-step
- Lesson 11: Build a retiree's income portfolio — capstone
- DOWNLOADABLE RESOURCE — Fixed Income & Bonds — Quick-Reference Card
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