Level 4 Level 5 Level 6 X Level 7 Level 8 Mark the box to the right of the appropriate level with an X. FN281 Financial Management

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1 MODULE SPECIFICATION TEMPLATE MODULE DETAILS Module title Investment Management Module code FN372 Credit value 20 Level Level 4 Level 5 Level 6 X Level 7 Level 8 Mark the box to the right of the appropriate level with an X Level 0 (for modules at foundation level) Entry criteria for registration on this module Pre-requisites Specify in terms of module codes or equivalent Co-requisite modules Specify in terms of module codes or equivalent Module delivery FN281 Financial Management FN368 Finance and Risk Management Mode of delivery Taught X Distance Placement Online Other Pattern of delivery Weekly Block Other When module is delivered Semester 1 Semester 2 Throughout year X Other Brief description of module The module allows students to relate previously acquired knowledge to content and/ or aims Overview (max 80 words) understanding the current best practice in investment analysis, considering a variety of asset classes, and in the managing of institutional investment portfolios. Module team/ author/ coordinator(s) School Site/ campus where delivered Anastasia Khanina Brighton Business School This module will normally be delivered at Moulsecoomb Course(s) for which module is appropriate and status on that course Course BSc(Hons) Finance and Investment BSc(Hons) Accounting and Finance Status (mandatory/ compulsory/ optional) Compulsory Optional

2 MODULE AIMS, ASSESSMENT AND SUPPORT Aims This module aims to: Introduce students to the latest knowledge and best practice in investment analysis and portfolio management. Illustrate various methods for investment analysis, portfolio construction and performance evaluation. Enable students to identify risks associated with investments and manage those, if necessary, using the appropriate risk management techniques. Learning outcomes On successful completion of this module students will be able to: Subject Specific: LO1: Critically examine and evaluate different asset classes, including derivatives and alternative investments, and implement global asset allocation strategies. LO2: Demonstrate an understanding of the concepts and current best practice involved in building and managing investment portfolios. LO3: Demonstrate an understanding of the risks associated with different asset classes and strategies, and how to manage those risks. Cognitive: LO4: Demonstrate a capacity for the critical evaluation of arguments and evidence. LO5: Locate, extract and analyse data from multiple sources, including the acknowledgement and referencing of sources. Content Analysis of the investment environment and the investment management process. Applications of behavioural finance, technical, fundamental and macroeconomic analysis to understanding the effectiveness of investment process. The role and properties of traditional asset classes and financial instruments (i.e. shares, bonds), investment companies (i.e. mutual funds, hedge funds) and alternative investments (i.e. property, private equity, currencies) in institutional portfolios. Empirical evidence of security returns and the difficulties of applying mean-variance analysis to create optimal portfolios. Construction and management of bond and equity portfolios.

3 Portfolio performance evaluation and insurance techniques. The methodology of Value at Risk and approaches to its calculation including historical simulation, Monte Carlo simulation and stress testing. International diversification Developments in analysis and management strategies of various risk types (i.e. credit, liquidity, volatility, weather). Learning support Core text: The latest editions of Bodie, Z., Kane, A. & Marcus, A.J., Investments, McGraw-Hill Recommended reading: The latest editions of: Alexander, C., Value-At-Risk Models, Wiley. Cuthbertson, K. & Nitzsche, D., Investments, Wiley. Elton, E.J., Gruber, M. J., Brown S.J., & Goetzmann, W.N., Modern Portfolio Theory and Investment Analysis, Wiley. Fabozzi, F. & Modigliani, F., Investment Management, Fischer, D.E. & Jordan, R.J., Security Analysis and Portfolio Management, Prentice Hall Francis and Ibbotson: Investments; a Global Perspective, Jorion, P., Value at Risk, McGraw Hill. Lofthouse, S., Equity Investment Management, Wiley. Solnik and Mcleavey, Global Investments, Pearson International. Sharpe, W., Alexander, G. and Bailey, J., Investments, Watsham, T. J., International Portfolio Management, Longmans. Teaching and learning activities Students are advised to make an extensive use of the various journals held in the University Library, particularly the Financial Analysts Journal and the Journal of Portfolio Management. Details of teaching and learning activities The module will use a mix of lectures, seminars and workshops: Lectures: 20 Open Learning: 0 Seminars: 10 Self Study: 160 Workshops: 10 Total: 200

4 Allocation of study hours (indicative) Where 10 credits = 100 learning hours SCHEDULED This is an indication of the number of hours students can expect to spend in scheduled teaching activities including lectures, seminars, tutorials, project supervision, demonstrations, practical classes and workshops, supervised time in workshops/ studios, fieldwork, and external visits. Study hours 40 GUIDED INDEPENDENT STUDY All students are expected to undertake guided independent study which includes wider reading/ practice, follow-up work, the completion of assessment tasks, and revisions. 160 PLACEMENT The placement is a specific type of learning away from the University. It includes work-based learning and study that occurs overseas. TOTAL STUDY HOURS Assessment tasks Details of assessment on this module There are two forms of assessment for this module: 1) Coursework (30%): Assessment will consist of a group work on an investment topic. Key learning outcomes assessed: LO1, LO4, LO5. 2) Examination (70%): An unseen 3-hour closed book exam. Key learning outcomes assessed: LO1, LO2, LO3, LO4. Types of assessment task 1 Indicative list of summative assessment tasks which lead to the award of credit or which are required for progression. WRITTEN Written exam 70 % weighting (or indicate if component is pass/fail) COURSEWORK PRACTICAL Written assignment/ essay, report, dissertation, portfolio, project output, set exercise Oral assessment and presentation, practical skills assessment, set exercise 30 0 EXAMINATION INFORMATION Area examination board Finance Refer to University for guidance in completing the following sections External examiners Name Position and institution Date appointed Dr Mark Rhodes Deputy Head of Accounting & Finance subject group; Hull University Date tenure ends October, September, Set exercises, which assess the application of knowledge or analytical, problem-solving or evaluative skills, are included under the type of assessment most appropriate to the particular task.

5 QUALITY ASSURANCE Date of first approval Only complete where this is not the first version Date of last revision Only complete where this is not the first version Date of approval for this version Version number 1 Modules replaced Specify codes of modules for which this is a replacement FN369 Available as free-standing module? Yes No X