Investment Management MSc

Core modules

• Equity and fixed income analysis

  Understanding how to analyse and value financial securities is one of the most important and challenging jobs for anyone working within the finance domain.

  For that reason, equity and fixed income analysis must be viewed within the context of the investment decision-making process.

  One key characteristic of the course is its integrative framework, bringing the investment–valuation–strategy trilogy together into one place for the analyst to refer to in the quest for consistent value-maximising investment recommendations.

• Portfolio Theory and Investment Analysis

  Modern portfolio construction, diversification, asset management and portfolio performance evaluation are based on a number of portfolio theory concepts and asset pricing models. Portfolio theory module provides an in depth analysis of the modern portfolio theory concepts, key asset pricing models and their use in asset management.

  The main objective of the course is to give you a thorough understanding of modern portfolio theory and its implications for the pricing of assets. The course provides the students with a unified approach to portfolio diversification, optimal portfolio construction and asset pricing models. There will be practical exercises in asset pricing and portfolio construction, and you will be using specialised databases and software packages to gain practical experience.

• Data Science for Investment Management

  This module introduces key data science methods widely adopted in the financial industry to analyse and model financial and macroeconomic data. The module covers several econometric and machine learning methods ranging from linear regression model to principal component analysis to regression trees.

  For all the methods presented, the key theoretical elements are illustrated in a gentle and intuitive way. Emphasis is placed on the practical applications of the methods, using computer-based exercises with real-world data, and on the interpretation of the results. Jupyter Notebook with Python will be used to conduct practical exercises. The teaching pattern will include both lectures and tutorials.

• Macroeconomics for investment managers.

  Any investment manager needs to understand the likely behaviour of the macroeconomy going forward as this will affect the types of securities that he chooses to include in his portfolio.

  The behaviour of the macroeconomy is heavily affected by how the government intervenes in the economy and that is why it is important for an investment manager to understand how governments can intervene in the economy and the likely impact of their intervention.

Core modules

• Advanced Financial Statement Analysis

  This module aims to introduce you to the measurement and recognition principles underlying financial statements.

  The main objectives are to (i) develop a solid understanding of the content and measurement and recognition principals of financial statements from the perspective of users of accounting information; (ii) develop the ability to analyse financial statements from the perspective of analysts and investment managers. In so doing, the module will develop fundamental skills that are important for successful security analysis.

• Hedge Funds, Private Equity and Venture Capital

  Over the past 20 years investors have increasingly looked beyond traditional asset classes (stocks and bonds) to alternative asset classes as both a source of return and diversification.

  In this course, we will introduce you to two of these alternative asset classes, namely hedge funds and private equity, highlighting their pros and cons, and the role they can play in a diversified investment portfolio.  This module will provide you with all the insights needed to make well-informed decisions with regard to today’s complex investment management environment.

  This course will give you the tools necessary to understand these alternative asset classes and to understand how they can be integrated into more traditional portfolios.

• Portfolio Management and Sustainable Investing

  Gain a thorough understanding of practical application of modern portfolio theory and asset pricing theories. The course provides  you with a unified approach to asset management and risk management.

  There will be practical simulations in portfolio construction and evaluation, examples of style investing, long short portfolio construction, market timing and asset allocation strategies and discussion of fixed income investment strategies.

  The coursework will be empirical, based on a simulated portfolio construction and evaluation so that you can gain practical experience. The software/s used for this simulation may change.

• Structured Products.

  The aim of the course is to develop your understanding of structured products from the point of view of both issuers and investors.

  A strong emphasis will be placed on understanding the factors that drive the prices of futures, forwards, options and swaps in both vanilla and exotic forms which will then be used to reverse engineer structured products.

  By the end of the course you should understand how existing products are structured, how they will perform in the secondary market and be capable of structuring your own products.

You may choose from the two options in your final term.

Option 1: Elective study only by taking 5 x 18 hours specialist electives of 10 credits each plus BBM109 Career Management Skills and Research Methods

Option 2 : A General Research Project with a credit value of 30 and a maximum of 5,000 words, taken in tandem with three specialist electives of 10 credits each.

Projects

• General Research Project

  This module will help you integrate your learning across a range of skills and in particular to enable you to demonstrate the results of your learning through the development of a final project. You may choose to complete more traditional academic desk research, complete a business plan or carry out a consultancy project and any reasonable proposal is acceptable providing that it is agreed with the project supervisor and the course director

• Career Management Skills and Research Methods

  Supporting your wider learning and career success through the development of key transferrable skills and attributes that you will use both in your programme and across your career. In particular: research and analysis, career planning and employability skills development, and sustainable working.

  Develop a grounding in research methods, targeted to your particular degree requirements. You will be able to use these skills to support your learning, substantiate your arguments and make assessments about the nature of the evidence you are using.

  Career and employability skills development, delivered in a highly targeted and applied format throughout the year, will help you develop your aspirations, take a planned and efficient approach to your job search and / or entrepreneurial plans, and help you create a strong base from which to manage your career in the longer term. The content of this module will also help you understand how to apply your learning in the wider context of your career.

Electives offered in 2023

• Advanced Company Valuation
• Career Management Skills and Research Methods
• Corporate Restructuring
• Credit Risk Management
• Ethics, Society and the Finance Sector
• Financial Crime
• Global Real Estate Market
• Investment Strategy
• Mergers & Acquisitions
• Project Finance and Infrastructure Investment
• Technical Analysis and Trading Systems
• Trading and Market Microstructure
• Visual Basic in Finance.

International electives:

• Project Finance and Infrastructure Investment (taught in Madrid, Spain).

Please note that electives are subject to change and availability.