IC204: Portfolio Management

Module code: IC204

Module provider: ICMA Centre; Henley Business School

Credits: 20

Level: Level 2 (Intermediate)

When you'll be taught: Semester 1

Module convenor: Dr Nikolaos Antypas, email: n.antypas@icmacentre.ac.uk

Module co-convenor: Dr Yoke Yue Kan, email: y.y.kan@henley.edu.my

Additional teaching staff 1: Dr Mohd Pisal Zainal, email: m.p.zainal@henley.edu.my

Additional teaching staff 2: Ms Nur Amalina Borhan, email: n.borhan@henley.edu.my

Pre-requisite module(s): BEFORE TAKING THIS MODULE YOU MUST ( TAKE IC102 (Compulsory)

Co-requisite module(s):

Pre-requisite or Co-requisite module(s):

Module(s) excluded:

Placement information: na

Academic year: 2024/5

Available to visiting students: Yes

Talis reading list: No

Last updated: 28 May 2024

Overview

Module aims and purpose

The module examines the issues involved in understanding the investment market, constructing an optimal investment portfolio, evaluating the performance of that portfolio, and adjusting its composition through time. The module aims to provide students with a detailed knowledge of both the theoretical underpinnings and the practical techniques required to form and manage portfolios of assets. By the end of the course, students should be able to demonstrate their understanding of the fundamental principles that guide modern portfolio theory and investment analysis, appraise the arguments and empirical evidence behind some of the most controversial issues in the field and apply the basic quantitative techniques needed in portfolio construction and estimation.

The module lead at the University of Reading Malaysia is Yoke Yue Kan.

Module learning outcomes

By the end of the module, it is expected that students will be able to:

• List and explain the various types of funds and instruments, alternative equity investment styles, and evaluate the historical performance for each of the above

• Allocate wealth among assets optimally using an investment industry best-practices approach

• Evaluate the performance of portfolios, using various methods to allow for risk

• Demonstrate the ability to communicate portfolio strategy and performance via presentation clearly and in professional standards

Module content

Module content

1. The Investment Environment 

2. Risk Aversion and Asset Allocation Decisions  

3. Portfolio Theory  

4. CAPM and APT 

5. Market Efficiency and Behavioural Finance  

6. Style Investing and Performance Evaluation 

7. Active Portfolio Management  

8. Passive Portfolio Management  

9. Hedge Funds

Structure

Teaching and learning methods

The student will be inducted to the topics via lectures, seminars, and the assignment. Self-study and learning through teamwork is also necessary for the module.

This module may be taught in a different Semester if you are studying at our campus in Malaysia.
For students studying at our campus in Malaysia: This module may be taught in a different semester and the breakdown of study hours may differ to those set out in the Study Hours table (please refer to the Module Handbook for the correct breakdown). In addition, you will be required to complete an additional 40 hours of study, taking the total number of study hours to 240 for this module. This is to comply with the Malaysian Quality Agency (MQA).

In addition to the total 200 hours, students studying at the Malaysian campus will be required to complete an additional 40 hours of independent study totalling 240 hours of student learning time per semester per module in compliance with the Malaysian Quality Agency (MQA). The breakdown of study hours may differ at the Malaysian campus. For further details please refer to the module handbook.

Study hours

At least 29 hours of scheduled teaching and learning activities will be delivered in person, with the remaining hours for scheduled and self-scheduled teaching and learning activities delivered either in person or online. You will receive further details about how these hours will be delivered before the start of the module.

Please note the independent study hours above are notional numbers of hours; each student will approach studying in different ways. We would advise you to reflect on your learning and the number of hours you are allocating to these tasks.

Semester 1 The hours in this column may include hours during the Christmas holiday period.

Semester 2 The hours in this column may include hours during the Easter holiday period.

Summer The hours in this column will take place during the summer holidays and may be at the start and/or end of the module.

Assessment

Requirements for a pass

Students need to achieve a weighted average of at least 40% to successfully pass the module.

Summative assessment

Penalties for late submission of summative assessment

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

Assessments with numerical marks

• 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 three working days;
• the mark awarded due to the imposition of the penalty shall not fall below the threshold pass mark, namely 40% in the case of modules at Levels 4-6 (i.e. undergraduate modules for Parts 1-3) and 50% in the case of Level 7 modules offered as part of an Integrated Masters or taught postgraduate degree programme;
• where the piece of work is awarded a mark below the threshold pass mark prior to any penalty being imposed, and is submitted up to three working days after the original deadline (or any formally agreed extension to the deadline), no penalty shall be imposed;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

Assessments marked Pass/Fail

• where the piece of work is submitted within three working days of the deadline (or any formally agreed extension of the deadline): no penalty will be applied;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension of the deadline): a grade of Fail will be awarded.

The University policy statement on penalties for late submission can be found at: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/qap/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.

Formative assessment

Formative assessment is any task or activity which creates feedback (or feedforward) for you about your learning, but which does not contribute towards your overall module mark.

Reassessment

Additional costs