Module: Fund Management

Latest Module Specifications

Current Academic Year 2025 - 2026

Module Title	Fund Management
Module Code	FBA1014 (ITS: EF508)
Faculty	DCU Business School	School	DCU Business School
NFQ level	9	Credit Rating	5

Description

This course is designed as a complement to the course in portfolio theory with a view to introducing students to the practical aspects of institutional portfolio management.

Learning Outcomes

1. Identify the key portfolio management techniques used within the modern fund management industry.
2. Critically assess the risks and expected rewards associated with different types of institutionally managed portfolios and funds.
3. Appreciate the distinct differences in passive management and active management strategies.
4. Capability to measure and appraise investment performance on a risk-adjusted basis.

*Type*	*Hours*	*Description*
Workload	Full time hours per semester
Lecture	24	No Description
Independent Study	36	Assigned Readings
Independent Study	40	Exam preparation
Independent Study	25	Assignment (report)
Total Workload: 125

Section Breakdown
CRN	20446	Part of Term	Semester 2
Coursework	0%	Examination Weight	0%
Grade Scale	40PASS	Pass Both Elements	Y
Resit Category	RC1	Best Mark	N
Module Co-ordinator	Seyed Aref Mahdavi Ardekani	Module Teacher	John O'Brien, Shane Murphy

Type	Description	% of total	Assessment Date
Assessment Breakdown
Assignment	Individual / group project	30%	Week 10
Written Exam	End-of-Semester Final Examination	70%	n/a

Reassessment Requirement Type
Resit arrangements are explained by the following categories; RC1: A resit is available for both^* components of the module. RC2: No resit is available for a 100% coursework module. RC3: No resit is available for the coursework component where there is a coursework and summative examination element. ^* ‘Both’ is used in the context of the module having a coursework/summative examination split; where the module is 100% coursework, there will also be a resit of the assessment

Pre-requisite	None
Co-requisite	None
Compatibles	None
Incompatibles	None

All module information is indicative and subject to change. For further information,students are advised to refer to the University's Marks and Standards and Programme Specific Regulations at: http://www.dcu.ie/registry/examinations/index.shtml

Indicative Content and Learning Activities

Passive Management Strategies and Immunizing Portfolios
Methods of immunizing bond portfolios; single and multiple liabilities; convexity; immunisation risk.

Index Funds
Choosing the best method of indexation, problems relating to the compilation and maintenance of index funds; accessing overseas markets through passive strategies.

Active management strategies
Searching for market inefficiency; strategies for adding value over index performance; combining a core fund with satellite active management portfolios, specialty management; using stock index futures and options; options on futures; currency hedging for overseas portfolios; bond switches.

Asset Allocation
Portfolio diversification, methods of evaluating and comparing investment markets; e.g. multi-scenario projections, risk premiums, the reverse yield gap; portfolio insurance, hedging portfolios with capital protection strategies; asset allocation in passive portfolios; considering transactions costs.

Investment performance appraisal
Measures of analysing investment performance, comparison with investment objectives, frequency of appraisal, time horizon over which performance should be judged; analysis of performance.

Property Management
Real property as an investment medium, property in the portfolio context, property portfolio construction and management, international property in the portfolio: opportunities and problems.

Indicative Reading List

Books:

JL Farrell: 0, Portfolio Management, Theory and Application,
GR Brown: 0, Property Investment and Capital Market,

Articles:
None

Other Resources

None