Investment Management MSc

University of Surrey

The Cases in International Finance module aims to help students to develop an understanding of the process involved in successfully analysing case information to complete an international finance-related project, in preparation for the Project module. It enables students to understand a real-life, complex, multi-layered, multinational issue and synthesise appropriate information while preparing an analysis on the case. It facilitates the independent learning process and provides students with the knowledge, skills and understanding required to articulate findings in a structured report format. By covering the fundamentals of report techniques and their applications, this module will enable students to work independently for the Project module.

This module is targeted at students interested in understanding the pricing of derivative securities, specifically options. Applications are used to reinforce a rigorous development of arbitrage theory that underpins the pricing of derivative securities.

The module examines the various approaches to equity investment analysis, providing a systematic understanding of the challenges faced and the decisions to be taken when analyzing and valuing corporate equity. It encompasses the principles and practice of valuation of companies? shares. This is examined from several aspects; industry analysis, company analysis, valuation methods and the link between valuation and investment style. Real corporate analysis will be undertaken in order to highlight and evaluate the different approaches to investment analysis.

As a result of a range of recent corporate scandals an increased emphasis has been put on corporate social responsibility and the need for the board of directors to conform to an ethical code of conduct while managing the affairs of an entity. This module explores how corporate governance examines the system of rules, principles and procedures through which a company is run to promote the best interest of its shareholders, other stakeholders and the wider society.

The module studies the various approaches to Fixed Income Investments, providing a systematic understanding of the challenges faced and the decisions to be taken when analysing and valuing fixed income securities and when managing bond portfolios. It encompasses the principles and practice of valuation of Treasury securities and corporate bonds. This is approached from several different aspects including pricing of bonds, factors affecting bond pricing, risk and performance evaluation. This module is particularly useful for students considering a career in finance; investment management, investment banking, private equity or venture capital, but is also useful for those involved in the wider areas of finance and corporate management where knowledge of investment analysis and company valuation is important.

The Foundations of Finance module provides the theoretical underpinnings of all of our MSc Finance and Accounting programmes. It introduces the pivotal concepts which form the basis of theoretical finance under three broad headings; Portfolio Theory and Practice, Equilibrium in Capital Markets and Introductory Analysis of Asset Classes. Core concepts include the relationship between risk and return, the Capital Asset Pricing Model (CAPM) and the Efficient Market Hypothesis (EMH) but the module also extends this analysis into new theoretical areas such as Behavioural Finance.

This is a compulsory module for the MSc International Financial Management Programme. Being the final element of the Programme, it provides an opportunity to conduct study on an international finance-related situation and reflect on it. Students are expected to select an international finance-related issue from a range of choices, conduct an independent research and complete a report within a stipulated period. They will have the opportunity to consult with the Module Convenor while deciding on the business case that interests them. The research should be based on secondary data sources.

The module studies the various stages of the investment management process from the award of an investment sponsor?s mandate through investment manager selection to the portfolio and performance outcome of that selection. Consideration is made at each stage of who makes the decisions and what those decisions are based upon. This includes asset allocation, benchmarking, active versus passive investment, investment style and investment performance. Seminars investigate real asset allocation problems. The module is the lynchpin of an investment management programme. This module is particularly useful for students considering a career in finance; investment management, investment banking or investment consultancy but is also useful for those involved in other areas of the financial sector such as insurance and pensions; the main users of investment management services.

To provide a grounding in the principles of accounting for students at Master level, most of whom are intending to pursue a specialist career in accounting or finance.