FR3201 Equity Investment Management MODULE SPECIFICATION ...
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FR3201 Equity Investment Management MODULE SPECIFICATION ...

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    FR3201 Equity Investment Management MODULE SPECIFICATION ... FR3201 Equity Investment Management MODULE SPECIFICATION ... Document Transcript

    • FR3201 Equity Investment Management MODULE SPECIFICATION - FR3201 - Equity Investment Management Introduction This document outlines core information regarding a module. The information is regularly reviewed by the University and should be read in parallel with the relevant programme specification. Module Title Equity Investment Management Module Reference Code FR3201 Home School Cass Business School Home Department UG Programme (Cass Business School) Module Credits 15 Module Level Level HE3 Module Rationale There is a number of profitable equity investment strategies which are widely used among practitioners in financial markets. This module provides advanced overview and application of these strategies. Educational Aims The course aims to provide a good understanding of different types of equity investment management styles. The emphasis will be placed on the active and passive investment management, equity indexing, market neutral and equitisation strategies, understanding equity risk premium and sources of abnormal returns in equities. The aim of the course is to provide a good background for equity investment management overall. The course is highly participative and it will be based on practical cases and upto date research papers related to the main issues in equity investment management. Outline Content Topics covered include: -Introduction to equity investment styles -Style rotation -Active style management and sector rotation -Equity indexing -Long/short equity investing -Measuring Equity Portfolio Performance -Alphas and their use in portfolio construction -Market timing -Behavioural Finance -Construction of Optimal Portfolios. Learning Outcomes On successful completion of this module, a student will be expected to be able to: Cognitive/Intellectual Skills Page 1 of 4 16 September 2009
    • FR3201 Equity Investment Management Appreciate the implications of modern portfolio theory on practical equity investment management issues. Develop analytical skills to evaluate complex equity portfolio construction and management problems. Knowledge and Understanding Introduce students to equity investment management styles. Familiarise students with the steps used to perform particular styles of investment management. Examine recent empirical evidence in the theory and practice of equity investment management. Subject Specific Skills Have a comprehensive understanding of equity risk premium and equity investment styles Understand the implications of the efficient markets theory on contemporary equity investment management process. Be able to address and tackle with key issues such as: * Constructing and evaluating performance of an index tracking portfolio. * Constructing and evaluating performance of a market-neutral and equitised portfolio. * Analyse equity risk premium and model its evolution over time. * Identify and analyse yield, size and low P/E ratio effect. * Apply style rotation, sector rotation, market timing and tactical asset allocation strategies. * Be able to contribute to the equity style portfolio construction and evaluation Transferable Skills The course will enable students to seek positions in the asset management or equity research and analysis departments of large financial institutions. Develop skills and knowledge to work in different countries Understand the perspectives of fund managers, risk managers, security analysts and traders. Values and Attitudes Appreciate the ethics and responsibility involved in the equity portfolio construction and management process Appreciate the wider social context of equity investment management decisions Appreciate the importance of the regulatory regime guiding investors' decisions Page 2 of 4 16 September 2009
    • FR3201 Equity Investment Management Learning and Teaching Methods Simulation exercises Lectures and real life examples Development and analysis of empirical evidence Analysis of contemporary equity investment management issues Discussions on institutional framework on developing issues MODULE TEACHING PATTERN Contact Self Total Student Teaching Component Type Hours Directed Learning Study Hours Hours Hours Lectures Lecture 20 130 150 Totals 20 130 150 Module Relationships Pre-requisite Relationships Co-requisite Relationships Non-requisite Relationships Module Code Module Title IF3200 Advanced Financial Markets Assessment Methods Group coursework, exam Module Pass Requirements Module Pass Mark 40 Page 3 of 4 16 September 2009
    • FR3201 Equity Investment Management Module Assessment Minimum Qualifying Assessment Component Assessment Type Weighting Mark Pass/Fail Coursework Coursework 30 0 No Examination - 2.25 hours Exam (Unseen) 70 0 No Indicative Reading List Fabozzi, F.J. et al., "Handbook of Equity Style Management", 2nd edition and 3rd edition, Frank J. Fabozzi associates Lofthouse, S. "Equity Investment Management", John Wiley and Sons Arnott, R.D. and Fabozzi, F.J., "Active Asset Allocation", Probus Publishing Co. Klein R.A. and J. Lederman, "Equity Style Management: Evaluating and Selecting Investment Styles", 1995, Irwin Professional Publishing Fabozzi F.J. and Fabozzi T. D. "Current Topics in Investment Management", Harper & Row. HESA Codes Code Description Price Group 27 Business and Management Studies D JACS Codes Code Description Percentage (%) N300 The study of financial systems, regulations and reporting. 100 Page 4 of 4 16 September 2009