Module Details

Module Code: FINA9003
Title: Asset Management Techniques
Long Title: Asset Management Techniques
NFQ Level: Expert
Valid From: Semester 1 - 2021/22 ( September 2021 )
Duration: 1 Semester
Credits: 5
Field of Study: 3430 - Banking, Finance and Investment
Module Delivered in: 1 programme(s)
Module Description: This module will enable learners to evaluate the importance of the asset management industry, the key actors in it and their impact on financial markets. Learners will assess the investment mandates and preferences of retail and institutional asset owners and appraise the dynamics of the interplay of forces influencing the asset management process. Learners will critique the myriad of asset classes, their valuation and key investment vehicles inherent in asset allocation strategies. Learners will ascertain the key investment strategies and investment themes globally with the opportunity to critique these in a practical context. Coverage of the key theoretical frameworks underpinning investment management will facilitate learner’s comprehension of asset management in a more holistic format.
 
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Assess the importance of the asset management industry and key forces influencing it in the broader context of the investment funds industry.
LO2 Appraise the priorities of the key asset owners, their investment mandates and key constraints.
LO3 Evaluate the key theories underpinning the asset management process and forces influencing the various stages in the process.
LO4 Critique different asset classes and investment vehicles inherent in the asset allocation decision.
LO5 Ascertain trends in investment strategies and the role of impact investment for the investment funds industry.
Dependencies
Module Recommendations

This is prior learning (or a practical skill) that is strongly recommended before enrolment in this module. You may enrol in this module if you have not acquired the recommended learning but you will have considerable difficulty in passing (i.e. achieving the learning outcomes of) the module. While the prior learning is expressed as named MTU module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module. You may not earn additional credit for the same learning and therefore you may not enrol in this module if you have successfully completed any modules in the incompatible list.
No incompatible modules listed
Co-requisite Modules
No Co-requisite modules listed
Requirements

This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed. You may not enrol on this module if you have not acquired the learning specified in this section.
No requirements listed
 
Indicative Content
Overview
Overview of the asset management industry and its evolution over time.
Asset owners
Asset owners-various types, their priorities, beliefs and responsible investing.
Traditional finance theory
Traditional finance theory and behavioural finance.
Institutional investors
Pension funds, insurance companies, endowments and foundations, investment companies, depository institutions and sovereign wealth funds.
Mutual funds and UCITS
Mutual funds and Undertakings for Collective Investment in Transferable Securities (UCITS).
Asset management process
Investment objectives, strategies, portfolio construction and evaluation of the portfolio and managers.
Asset classes
Traditional and alternative assets including hedge funds and private equity and valuation of assets.
Asset allocation
Asset allocation strategies and investment constraints.
Investment strategies
Passive and active investing.
ETFs, index funds and SPACs
Role of Exchange Traded Funds (ETFs), index funds and Special Purpose Acquisitions Companies (SPACs).
Key risks
Key risks in asset management.
Sustainability
Impact investing and decarbonisation of portfolios.
Module Content & Assessment
Assessment Breakdown%
Coursework100.00%

Assessments

Coursework
Assessment Type Other % of Total Mark 50
Timing n/a Learning Outcomes 1,2,3
Assessment Description
Assignment
Assessment Type Other % of Total Mark 50
Timing n/a Learning Outcomes 4,5
Assessment Description
Assignment
No End of Module Formal Examination
Reassessment Requirement
Coursework Only
This module is reassessed solely on the basis of re-submitted coursework. There is no repeat written examination.

The University reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full Time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact Lecture Every Week 2.00 2
Independent Learning Non Contact Independent Learning Every Week 5.00 5
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 2.00
Workload: Part Time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact Lecture Every Week 2.00 2
Independent Learning Non Contact Independent Learning Every Week 5.00 5
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 2.00
 
Module Resources
Recommended Book Resources
  • Clark, G.L. and A.H. Monk.. (2017), Institutional investors in global markets, Oxford University Press, U.K..
Supplementary Book Resources
  • Ang, A.. (2014), Asset management: A systematic approach to factor investing, Oxford University Press, U.K..
Recommended Article/Paper Resources
  • Agrawal, A. and K. Hockerts.. Impact investing: review and research agenda, Journal of Small Business & Entrepreneurship, 2019, 1-29.
  • Bebchuk, L.A., A. Cohen and S. Hirst.. The agency problems of institutional investors, Journal of Economic Perspectives, 31(3), 2017, 89-102.
  • Breugem, M. and A. Buss.. Institutional investors and information acquisition: Implications for asset prices and informational efficiency, The Review of Financial Studies, 32(6), (2019), 2260-2301.
  • Eccles, R.G., M.D. Kastrapeli and S.J. Potter.. How to integrate ESG into investment decision?making: Results of a global survey of institutional investors., Journal of Applied Corporate Finance, 29(4), 2017, 125-133.
  • Fabozzi, F.J. and F.A. Fabozzi.. Asset Pricing Theories, World Scientific Book Chapters, 2020, 233-261.
  • Fabozzi, F.J. and F.A. Fabozzi.. Overview of Asset Management, World Scientific Book Chapters, 2020, 3-26.
  • Focardi, S.M. and F.J. Fabozzi.. Climate Change and Asset Management, The Journal of Portfolio Management, 46(3), 2020, 95-107.
  • Fricke, C. and D. Fricke.. Vulnerable asset management? The case of mutual funds, Journal of Financial Stability, 52, 2021.
  • Hau, H. and S. Lai.. Asset allocation and monetary policy: Evidence from the eurozone, Journal of Financial Economics, 120(2), 2016, 309-329.
  • Monk, A., R. Sharma and D.L. Sinclair.. Reframing finance: New models of long-term investment management, Stanford University Press, CA, USA, 2017.
  • Rizvi, S.K.A., N. Mirza, B. Naqvi and B. Rahat.. Covid-19 and asset management in EU: A preliminary assessment of performance and investment styles, Journal of Asset Management, 21(4), 202, 281-291.
  • Van Loon, J. and M.B. Aalbers.. How real estate became ‘just another asset class’: The financialization of the investment strategies of Dutch institutional investors, European Planning Studies, 25(2), 2017, 221-240.
  • Wagemans, F.A., C.S.A. Van Koppen and A.P. Mol.. Engagement on ESG issues by Dutch pension funds: is it reaching its full potential?, Journal of Sustainable Finance & Investment, 8(4), 2018, 301-322.
Supplementary Article/Paper Resources
  • Ahmad, Z., H. Ibrahim and J. Tuyon.. Institutional investor behavioral biases: syntheses of theory and evidence, Management Research Review, 2017.
  • Appel, I.R., T.A. Gormley and D.B. Keim.. Passive investors, not passive owners, Journal of Financial Economics, 121(1), 2016, 111-141.
  • Buser, S.A.. On the Optimal Mix of Active and Passive Investments, The Journal of Portfolio Management, 41(4), 2015, 91-96.
  • Duijm, P. and S. Steins Bisschop.. Short-termism of long-term investors? The investment behaviour of Dutch insurance companies and pension funds, Applied Economics, 50(31), 2018, 3376-3387.
  • Gârleanu, N. and L.H. Pedersen.. Efficiently inefficient markets for assets and asset management, The Journal of Finance, 73(4), 2018, 1663-1712.
  • Haberly, D., D. MacDonald-Korth, M. Urban and D. Wójcik.. Asset management as a digital platform industry: A global financial network perspective, Geoforum, 106, 2019, 167-189.
  • Israeli, D., C.M. Lee and S.A. Sridharan.. Is there a dark side to exchange traded funds? An information perspective, Review of Accounting Studies, 22(3), 2017, 1048-1083.
  • Kahn, R.N. and M. Lemmon.. The asset manager’s dilemma: How smart beta is disrupting the investment management industry, Financial Analysts Journal, 72(1), 2016, 15-20.
  • Sievänen, R., H. Rita and B. Scholtens.. European pension funds and sustainable development: Trade-offs between finance and responsibility, Business strategy and the environment, 26(7), 2017, 912-926.
  • Sushko, V. and G. Turner.. The implications of passive investing for securities markets, BIS Quarterly Review, March 2018.
  • Thomas, A. and L. Spataro.. The effects of pension funds on markets performance: A review, Journal of Economic Surveys, 30(1), 2016, 1-33.
  • Uhl, M.W. and P. Rohner.. Robo-advisors versus traditional investment advisors: An unequal game, The Journal of Wealth Management, 21(1), 2018, 44-50.
Other Resources
  • Website, Danielsson, J. and J.P. Zigrand.. (2015), Are asset managers systemically important?, London, U.K., Vox EU.
 
Module Delivered in
Programme Code Programme Semester Delivery
CR_BIFAD_9 Master of Business in Investment Fund Administration 2 Mandatory