RE3ISM-Investment Strategy and Management

Module Provider: Real Estate and Planning
Number of credits: 20 [10 ECTS credits]
Level:6
Terms in which taught: Autumn / Spring / Summer module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2023/4

Module Convenor: Mr Pin-Te Lin
Email: pin-te.lin@henley.reading.ac.uk

Type of module:

Summary module description:

This module aims to enable students to develop their understanding of the concepts of investment strategy, portfolio selection and performance measurement and their application to property markets. It also aims to further develop students' analytic capacity. Upon completion of the module, students should have an understanding of key theoretical concepts in investment strategy, be able to appraise critically published work in the field and apply this knowledge to the analysis of practical real estate problems.

This module is delivered at the University of Reading and University of Reading Malaysia.

Aims:

This module examines investment strategy, portfolio selection and performance measurement for real estate investment markets, with particular reference to private/direct real estate investment. 

Assessable learning outcomes:

Upon completion of the module, students should be able to:

• identify and explain the main theoretical concepts relating to investment strategy, portfolio selection and performance measurement and be able to apply such concepts to real estate markets;


• discuss, and appraise critically, relevant literature applying investment strategy, portfolio selection and performance measurement models to real estate markets;


• apply theoretical investment strategy and portfolio management principles to practical real estate problems;


• analyse capital market data using quantitative techniques, to identify theoretically optimal portfolio strategies and assess manager performance;


• interpret and evaluate published results of empirical research in the field.

Additional outcomes:

In addition, students will:

• enhance their oral and communication skills through discussions and presentations in the seminar sessions;


• develop their IT skills through the computer-based workshops;


• enhance their capacity to read complex published material in a critical fashion.

Outline content:

The module will develop understanding of material on investment and finance, emphasising theoretical and empirical analyses of real estate markets. The module will cover risk and return and investor investment preferences; models of portfolio selection and pricing; the place of real estate in mixed asset class investment strategies; and performance measurement. The module will draw on both academic and professional literature and utilise data and examples from the UK, North America, Europe and the Pacific Rim, as appropriate.

Brief description of teaching and learning methods:

The module is primarily lecture-based, complemented with computer workshops and tutorials. Additionally, students will be expected, on an independent basis, to read prescribed articles and prepare for the workshops and tutorials.

Contact hours:

	Autumn	Spring	Summer
Lectures	10	10
Tutorials	5	7
Guided independent study:
Wider reading (independent)	45	45
Exam revision/preparation	15	13	20
Preparation for tutorials	15	15
Total hours by term	90	90	20
Total hours for module	200

Summative Assessment Methods:

Method	Percentage
Written exam	100

Summative assessment- Examinations:

One three-hour examination.

The examination for this module will require a narrowly defined time window and is likely to be held in a dedicated exam venue.

Summative assessment- Coursework and in-class tests:

Formative assessment methods:

Penalties for late submission:

The Support Centres will apply the following penalties for work submitted late:

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;
• where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

The University policy statement on penalties for late submission can be found at: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/cqsd-old-site-documents/penaltiesforlatesubmission.pdf
You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Assessment requirements for a pass:

A mark of at least 40% overall.

Reassessment arrangements:

Reassessment will be by the same method as for the module’s original assessment requirements, subject to variation by the Examination Board where appropriate.

Additional Costs (specified where applicable):

• Required textbooks: About £50


• Specialist equipment or materials: About £15 for a calculator (Casio FX-83/85GTx or Casio FX-83/85GTPLUS)

Last updated: 30 March 2023