Indicative Content and
Learning Activities
Passive Management StrategiesImmunizing portfoliosmethods 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 StrategiesSearching 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 AllocationPortfolio 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 AppraisalMeasures of analysing investment performance, comparison with investment objectives, frequency of appraisal, time horizon over which performance should be judged. Analysis of performance.Property ManagementReal property as an investment medium, property in the portfolio context, property portfolio construction and management, international property in the portfolio: opportunities and problemsPassive Management StrategiesImmunizing portfoliosmethods of immunizing bond portfolios; single and multiple liabilities; convexity; immunisation risk.Index Fundschoosing the best method of indexation, problems relating to the compilation and maintenance of index funds.Accessing overseas markets through passive strategies.Active management strategiesSearching 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 AllocationPortfolio 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 appraisalMeasures of analysing investment performance, comparison with investment objectives, frequency of appraisal, time horizon over which performance should be judged. Analysis of performance.Property ManagementReal property as an investment medium, property in the portfolio context, property portfolio construction and management, international property in the portfolio: opportunities and problems
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