| Investment
Valuation & Portfolio Theory |
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| Access
to the module information
When you have sucessfully applied for this course,
and payment received, you will be sent a letter
which will outline the information required for
this module. This will include a direct link to
the private area of the module website.
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Pre-course self-test
A frequently asked question relating to this module is "Will I find the
mathematics for this course too difficult?". If you wish to test out
the level of mathematical knowledge that is appropriate for this (and
many other postgraduate investment courses), have a go at our pre-course self-test. |
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Introduction
This module examines the investment characteristics
of the asset classes available to UK investors,
in the context of investor's liability profiles.
The different types of investment instrument are
examined, together with the way in which they are
valued and traded. The module includes an introductory
study of indirect property investment and its comparability
with direct property investment. It also introduces
the participant to the regulatory environment under
which UK property investors operate. |
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Learning Aims and Objectives |
To develop participants’ ability to: |
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Prepare investor liability
profiles and to contrast with those of other
investors. Apply those considerations to the
performance requirements of selected investments |
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Contrast differences In the performance
characteristics of equities; bonds; real estate
assets (direct and indirect); |
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Contrast the techniques of analysis and
trading practices associated with different
types of investment instruments; |
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Identify and assess the impact of the main
forms of taxation on investment transactions
and income. |
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Module Requirements |
Possession of a cognate
or semi-cognate degree (or degree-equivalent cognate
professional qualification) with evidence of relevant
professional experience. |
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Indicative Content |
· Liability profiles and investment preferences
of financial institutions and other investors;
· Market characteristics of: cash; bonds;
fixed-income securities; equities;
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Securitization;
· Derivatives: forwards;
futures; options; swaps;
· Property
derivatives and their application to the direct
property market;
· Tax efficiency for
development and investment.
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By the end of this module, you should be able
to: |
· Evaluate the investment characteristics
of main asset classes, linking these to investor
profiles and preferences;;
· Evaluate the economic drivers of major
asset markets;
· Demonstrate a critical understanding
of property securitization for investment purposes;
· Construct liability profiles for typical
investors in the markets.
· Investigate and critically evaluate the
attributes of various types of investment vehicles
in their respective market context;
· Identify the principal features of UK
corporate and personal taxation and apply to issues
of tax efficiency for investment transactions
and income.
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Indicative study commitment: |
3 days classroom study plus 24 hours preliminary
self-managed study and 4hrs for final take-home
assignment. |
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Recent participating organisations: |
Warner Estate Holdings |
Ignis Asset Management |
Dechert |
Workspace Group |
Nelson Bakewell |
Grosvenor |
Bank of Scotland |
Standard Life Investments |
Nationwide Building Society |
Henderson Global Investors |
ING Real Estate Investment |
Cushman & Wakefield Healey & Baker |
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Module Leader: Eva Steiner |
Eva
is an analyst in the European Strategy & Research team of LaSalle
Investment Management in London where she focuses on the analysis
of the UK and continental European real estate markets. Previously, she
worked as a consultant at Christie + Co in Munich specialising in the
valuation of hotel property across Europe as well as transaction
advice. She holds a
BA degree in Business Administration from University of Heilbronn,
Germany, as well as an MPhil degree in Real Estate Finance from
University of Cambridge, UK. |
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Recent Contributors: |
Philip Booth – Cass Business School
Charles Follows – ING Real Estate
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