Domestic and International Portfolio Management
The general aim of this module is to equip you with the ability to analyse major issues confronting managers of portfolios of assets invested domestically and internationally and translate their analysis into portfolio decisions. Competence in this area of fund management requires understanding of the operation of the world’s major equity, bond and currency markets.
All of the resources for this module are available on the ELE (Exeter Learning Environment).
Previously, we had the manager of investment funds give a session on his own experience in fund management and answered questions posed by the students concerning their practical projects.
In this module, students learn how to analyse real-world financial issues and work with portfolios
Full module specification
|Module title:||Domestic and International Portfolio Management|
|Duration of module:||
Duration (weeks) - term 2: |
The aims of the module are:
- To equip students to analyse major issues confronting managers of portfolios of assets invested domestically and internationally and translate their analysis into portfolio decisions.
- To review some of the considerable empirical academic literature studying current issues in portfolio management. This may include forecast ability, style choice and timing etc.
- To give students experience of practical fund management through seminars conducted by practising fund managers;
- To understand the determination of foreign exchange and develop expertise in managing exchange risk exposure.
ILO: Module-specific skills
- 1. appraise the current research literature on all major aspects of international investment;
- 2. critically appraise portfolio performance using attribution and risk-adjustment measures;
- 3. make quantitative forecasts of global stock, bond and equity returns;
- 4. critically appraise current practice in leading investment houses;
- 5. value and manage foreign currency derivatives towards stated goals.
ILO: Discipline-specific skills
- 6. analyse and evaluate research results generated in a wide-ranging research environment;
- 7. use appropriate data and statistical methodology to produce quantitative decision rules;
- 8. appraise the appropriateness of conclusions drawn from approximate models for complex data generating.
ILO: Personal and key skills
- 9. present in documents, and personally, a decision process involving many choices and consolidate the key features of the process;
- 10. present key features of a many-sided research process and, analyse problems arising in an international context.
Learning activities and teaching methods (given in hours of study time)
|Scheduled Learning and Teaching Activities||Guided independent study||Placement / study abroad|
Details of learning activities and teaching methods
|Category||Hours of study time||Description|
|Scheduled Learning and Teaching Activity||27||Lectures|
|Guided Independent Study||123||Reading, research and reflection; preparation for lectures; preparation for assessments.|
|Form of assessment||Size of the assessment (eg length / duration)||ILOs assessed||Feedback method|
|Independent Study||Assigned in lectures and discussed in tutorials||1-10||Written/Oral feedback|
Summative assessment (% of credit)
|Coursework||Written exams||Practical exams|
Details of summative assessment
|Form of assessment||% of credit||Size of the assessment (eg length / duration)||ILOs assessed||Feedback method|
|Mid-term written examination||20||40 minutes||1-10||Written feedback|
|Final written examination||80||2 hours||1-10||Written feedback|
Details of re-assessment (where required by referral or deferral)
|Original form of assessment||Form of re-assessment||ILOs re-assessed||Timescale for re-assessment|
|Mid-term and Final written examination||Examination (100%, 2 hours)||1-10||August/September Reassessment Period|
- Introduction: portfolio management process
- Asset pricing models in portfolio management
- Measuring and managing market risk
- Asset valuation and asset allocation
- Active portfolio management and algorithmic trading
- International portfolio diversification
- International parity conditions
- Currency determination and international asset pricing
- Module review and revision
Indicative learning resources - Basic reading
- Solnik, B., and D. McLeavey, 2013, Global Investments : Pearson New International Edition, 6th ed., Pearson
- Reilly, F.K., K.C. Brown, and Leeds S.J. 2019, Investment Analysis and Portfolio Management, 11th ed., Cengage Learning
Module has an active ELE page?
Last revision date