Overview

The module may cover but will not be limited to the following aspects: Investors and investment objectives; Investment management process; Investment risk and return; Portfolio theory; Capital Asset Pricing Model; Valuation (time value of money); Fixed Income securities (characteristics, global bond markets, valuation, understanding credit ratings and yield); Equities (characteristics, valuation, global equity markets); Efficient Market Hypothesis and Portfolio management strategies; Factor Investing; Current Investment themes; Responsible Investment, including Environmental, Social and Governance (ESG) factors; Performance measurement and attribution; The strategies of hedge funds and sovereign wealth funds.

Assessment Strategy

-threshold -Satisfactory standard 'D- to D+':No major omissions or inaccuracies in the deployment of information/skills.Some grasp of theoretical/conceptual/practical elements.Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives. -good -High Standard 'B- to B+':Very good performanceMost of the relevant information accurately deployed.Good grasp of theoretical/conceptual/practical elements.Good integration of theory/practice/information in pursuit of the assessed work'sobjectives.Evidence of the use of creative and reflective skills. -excellent -Excellent standard 'A- to A*':An outstanding performance, exceptionally able. The relevant information accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills. -another level-Average Standard 'C- to C+':Much of the relevant information and skills mostly accurately deployed.Adequate grasp of theoretical/conceptual/practical elements.Fair integration of theory/practice/information in the pursuit of the assessed work's objectives.Some evidence of the use of creative and reflective skills.

Learning Outcomes

• Apply advanced techniques to measure and interpret the performance and the risk associated with investment strategies.

• Apply advanced valuation techniques to equity and fixed income instruments and demonstrate advanced understanding of the principal drivers of returns.

• Articulate investment strategies relating to investment institutions including pension funds, hedge funds and sovereign wealth funds.

• Critically analyse the merits and controversies relating to sustainable investing and Environmental, Social and Governance (ESG) factors.

• Critically analyze the mechanics of investment in financial markets, the main features of key global markets, and approaches to asset allocation, investment strategy and the role of portfolio diversification.

• Critique theoretical and empirical perspectives relating to market efficiency, active and passive portfolio management.

• Demonstrate critical awareness of the typical investment objectives of key classes of investors, including the risk-return relationship and the role of risk aversion.