CORPFIN 7019 - Advanced Funds Management (M)
North Terrace Campus - Semester 1 - 2017
General Course Information
Course Code CORPFIN 7019 Course Advanced Funds Management (M) Coordinating Unit Business School Term Semester 1 Level Postgraduate Coursework Location/s North Terrace Campus Units 3 Contact Up to 4 hours per week Available for Study Abroad and Exchange Y Corequisites CORPFIN 7039 & CORPFIN 7040 Assumed Knowledge CORPFIN 7039 & CORPFIN 7040 Course Description This course is an in-depth study of the funds management theory and practice. Participants will first develop a strong theoretical knowledge of asset pricing, market efficiency and funds management. Students will then be exposed to the managed funds industry and be required to apply their theoretical knowledge to understand the process of developing, managing and evaluating these assets. In addition, students will practically develop an Investment Policy Statement (or a Statement of Advice) for an investor, forecast characteristics of various asset classes in an economy, and be able to create an investment vehicle to satisfy investors' needs. The students will also learn various strategies to manage funds, issues that impact performance, and issues in benchmarking and performance evaluation. Equities, Fixed Income Securities, Commodities, Real Estate, Alternate Funds, Emerging, Developing and Developed markets will be examined in the context of portfolio construction.
Course Coordinator: Dr Syed Zamin Ali
The full timetable of all activities for this course can be accessed from Course Planner.
Course Learning OutcomesOn successful completion of this course, students will be able to:
1. Explain Modern Portfolio Theory and the Mean-Variance Framework.
2. Analyse core asset classes based on their characteristics and performance in different economic and business cycles.
3. Identify the characteristics of alternative Investments, and their relationship with core asset classes, in a portfolio context.
4. Compare active and passive investment strategies, and their associate benefits and costs.
5. Create investment vehicles for specific client needs that are consistent with ethical and regulatory framework of the Investment Industry.
University Graduate Attributes
This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:
University Graduate Attribute Course Learning Outcome(s) Deep discipline knowledge
- informed and infused by cutting edge research, scaffolded throughout their program of studies
- acquired from personal interaction with research active educators, from year 1
- accredited or validated against national or international standards (for relevant programs)
All Critical thinking and problem solving
- steeped in research methods and rigor
- based on empirical evidence and the scientific approach to knowledge development
- demonstrated through appropriate and relevant assessment
All Teamwork and communication skills
- developed from, with, and via the SGDE
- honed through assessment and practice throughout the program of studies
- encouraged and valued in all aspects of learning
All Career and leadership readiness
- technology savvy
- professional and, where relevant, fully accredited
- forward thinking and well informed
- tested and validated by work based experiences
All Intercultural and ethical competency
- adept at operating in other cultures
- comfortable with different nationalities and social contexts
- able to determine and contribute to desirable social outcomes
- demonstrated by study abroad or with an understanding of indigenous knowledges
All Self-awareness and emotional intelligence
- a capacity for self-reflection and a willingness to engage in self-appraisal
- open to objective and constructive feedback from supervisors and peers
- able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate
Running Money: Professional Portfolio Management
by Stewart, S. D., Prios, C. D., and J. C. Heisler, 1st Edition, published by McGraw-Hill
Other readings from academic, semi-professional and professional sources.
Recommended Resources“Investments”, 10th ed. (other editions, incl. international ones, are fine), by Zvi Bodie and Alex Kane and Alan Marcus.
Students are encouraged to stay abreast of global financial issues. The Australian Financial Review and finance commentary on the ABC network are excellent sources of current financial news and analysis. The internet is also abundantly populated with all aspects of this course, and should be used as well.
Online LearningDiscussion board will be the primary source of interface between students and the academic staff.
Lecture material such as presentation, articles, tutorial questions and lecture recording will be available on MyUni.
Learning & Teaching Activities
Learning & Teaching ModesThe approach in this course is to first establish the theoretical foundations and then to build upon these to understand real-world issues. This will be done through lectures, tutorials, assignment, test, and examination.
The information below is provided as a guide to assist students in engaging appropriately with the course requirements.The University expects full-time students (i.e. those taking 12 units per semester) to devote a total of 48 hours per week to their studies. This means that you are expected to commit approximately 9 hours for a three-unit course or 13 hours for a four-unit course, of private study outside of your regular classes.
Students in this course are expected to attend all lectures throughout the semester plus one tutorial class each week.
Learning Activities Summary
Week 1: Introduction
Week 2: Client Objectives for a Fund
Week 3: Asset Allocation - Mean Variance Framework
Week 4: Practical Asset Allocation and Stress Testing of Portfolio
Week 5: Equity Investing
Week 6: Fixed Income Investing
Week 7: Global Investing
Week 8: Alternative Investment Classes
Week 9: The Investment Management process
Week 10: Performance Measurement
Week 11: Portfolio Management through Time
Week 12: Review
Specific Course RequirementsThis course has two specific components: Embedded Research component and The CFA Ethical Standards and Practice
Embedded Research (25%)
The postgraduate Finance coursework program requires theinclusion of an Embedded Research component, a piece of research that the student works on over 4 courses. Equity Valuation (M) and Fixed Income Securities (M) research will lead to a research project for this course. More details will be provided at a later stage.
CFA Ethical Standards and Practice (5%)
This course will have three (3) workshops that will discuss case studies each week (from week 4-6). Students will prepare one case each
week and will gain participation marks. More details will be provided at a later stage.
The University's policy on Assessment for Coursework Programs is based on the following four principles:
- Assessment must encourage and reinforce learning.
- Assessment must enable robust and fair judgements about student performance.
- Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
- Assessment must maintain academic standards.
Assessment Task Weighting Learning Outcome Test 20% 1,2 Ethics Workshop Participation 5% 6 1 x Group Assignment and 2 x Individual Reports 25% 1,2,3,4,5,6 Final Examination 50% 1,2,3,4,5,6 Total 100%
Assessment Related RequirementsThe approach in this course is to first establish the theoretical foundations and then to build upon these to understand portfolio construction, implementation and management for an investor. This will be done through lectures, tutorials, a test, individual and group assignment, workshops and a final examination.
This course will also feature an individual report and a group assignment based on the Embedded Research as well as workshops on the CFA Ethical and Professional Standards.
Assessment DetailThe assessment components are as follows:
• (20%) Test: 50 minute test. Multiple Choice Format. This is a closed book test
• (25%) Assignment: This is a gorup assignment to asset allocation and fund creation for a client
• (5%) Workshop on CFA Ethical Standards and Practice Case Studies
• (50%) Final/Replacement Exam: 3 hours exam as per examination schedule. These are closed book examination
SubmissionFurther details will be provided on MyUni.
Grades for your performance in this course will be awarded in accordance with the following scheme:
M10 (Coursework Mark Scheme) Grade Mark Description FNS Fail No Submission F 1-49 Fail P 50-64 Pass C 65-74 Credit D 75-84 Distinction HD 85-100 High Distinction CN Continuing NFE No Formal Examination RP Result Pending
Further details of the grades/results can be obtained from Examinations.
Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.
Final results for this course will be made available through Access Adelaide.
The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.
SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
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