FIN 682 - International Asset Management


News

The course IAM will be offered in slightly modified form in the FSS2017. The dates, times and rooms can be found on portal2. Additional information can be found in this document.

 

Course Outline

1. Introduction

In the preliminary chapter, the logistics of the course will be announced. In the introduction we will then discuss the setup and historical development of the asset management industry in important markets, as well as the products available.

2. Setting up a Fund

In this chapter, we will look at the definition of delegated asset management and the most important products like mutual funds, and hedge funds. Relevant regulatory rules, fund characteristics, and the pricing, distribution and sales process will be covered as well. We will also go through some recent real cases.

3. Investment Process

In this chapter, we will look at the different forms of market efficiency. Based on this, we will  cover the Active versus Passive Debate and the resulting implications for the investment process. We will discuss different tactical asset allocation & security selection strategies as well as topics relating to strategic asset allocation. The chapter will also provide insights that relate to risk management as a key component of successful asset management.

4. Performance: Measurement, Determinants & Prediction

The fourth chapter covers external and internal performance evaluation, performance attribution, determinants of performance, performance persistence as well as rankings and ratings. Moreover, the chapter will also provide some insights in the implicatinos of different kinds of performance measurement in reality.

5. Investor Behavior & Managerial Incentives

This chapter covers topics related to the behavior and incentives of investors and asset managers using recent findings in academia and real world cases.

6. Outlook

In our last session, we will discuss recent trends in asset management. Finally, we talk about the job market prospects before summarizing the course.  

Note some contents of the chapters might slightly change due to the contribution of guest lecturers.

Requirements for the Course

There is no formal prerequisite for the course. However, we strongly recommend you to have completed the course FIN 500 - Investments I.

Logistics & Important Dates

Please note that the lecture FIN 682 International Asset Management is offered only in the spring term. The course is organized in lectures and exercises.

Lecture Slides

Slides and practice sheets will be posted on the Illias system. Please register for the course to get access to the relevant material.

Textbooks & Readings

There is no specific textbook that the whole course is based upon. One useful introductory text is:

  • Haslem, John A. (2009): Mutual Funds - Portfolio Structures, Analysis, Management, and Stewardship, John Wiley & Sons.

We will also provide a list with relevant papers for the various chapters in the lecture.

Assessment

To receive a grade for the course students have to pass the final exam.

 

Notice: This information is subject to corrections.
Please check this site regularly in order to schedule course offer changes in time.