Portfolio Management (Code No.

SF5003) EMBA-25-26
Section 1 - General Information
1.1 Administrative details Associated HE Award(s) Master of Business Administration (Executive) 1.2 Duration Two years Level Advanced Subject Coordinator Prof. Rachana Baid

Core or specialist business subject/unit Indicate if the subject/unit is a core subject/unit specialist business subject/unit other (please specify below):

1.3

Subject/unit weighting Indicate below, the weighting of this subject/unit and the total course points. Subject/Unit Credit Points 1 Total Course Credit Points 36

1.4

Student workload Indicate below, the expected student workload per week for this subject/unit: (EMBA students in a two year program attend classes on alternate weeks ) No. timetabled hours/week* 18 * ** *** No. personal study hours/week** 18 Total workload hours/week*** 36

Total time spent per week at lectures, tutorials, clinical and other placements etc Total time students are expected to spend per week in studying, completing assignments, etc.(includes time spent during off campus week) That is, * + ** = workload hours.

1.5

Mode of Delivery Indicate if this subject/unit is delivered

face to face online independent learning module/un timetabled study by a combination of modes (please specify below) through a practicum other mode (please specify below)

1.6

Pre-requisites Are students required have undertaken a prerequisite/co-requisite subject/unit(s) for this subject/unit? Yes No If yes, provide details of the prerequisite/co-requisite requirements below: Financial Management 1 & 2, Financial Accounting 1 & 2.

1.7

Other resource requirements Do students require access to specialist facilities and/or equipment for this subject/unit (eg special computer access / physical education equipment)? Yes No If yes, provide details of the requirements below:

Note: Access to these requirements should be detailed under 3.5 in the accreditation application form.

Section 2 Academic Details

2.1 Student learning outcome List below, in alpha format, what key knowledge and skills students would be expected to attain by successfully completing this subject/unit (link to assessment tasks (refer to 2.4 below)): After going through the subject students should be able to: a) Describe important concepts in portfolio management such as diversification and efficient frontier b) Explain risk and return relationship in terms of the Capital Asset Pricing Model (CAPM) c) Write an Investment Policy Statement (IPS) for Individual and institutional clients d) Make strategic asset allocation decisions and construct a portfolio e) Formulate appropriate investment strategies, including selection of passive indexing/active management strategies, style investing growth style/ value style

f)

Evaluate and monitor portfolio performance from the perspectives of both for Individual and institutional clients

2.2

Subject/unit content and structure Provide details in the table below, about the subject/unit content and how it is structured, including practical components such as laboratory, studio and work-based placements

Session 1 Workin g break 2 3 Workin g break

Theme Markowitz Portfolio Theory Preparation on specific questions on the following case: Markovs Trillima Discussion on the following case: Markovs Trillima Capital asset pricing theory Preparation on specific questions on the following cases: Introduction to Portfolio Theory Discussion on the following cases: Introduction to Portfolio Theory Managing Individual Investors Portfolio The portfolio management process. The need for policy statement Inputs to policy statements Investors life cycle The Asset Allocation Decision Preparation on specific questions on the following case: Rudy Wong, Investment Advisor Discussion on the following cases: Rudy Wong, Investment Advisor Managing Individual Investors Portfolio Contd., Efficient Capital Markets Passive versus Active Management Value versus Growth Investing Preparation on question given on : Jane Smith B Jane Smith B: Discussion Discussion on the various measures of portfolio performance

Readings/ Articles/ Cases Markovs Trillima Case Chapter 7

Pedagogy Lecture & Discussion

Introduction to Portfolio Theory Case Article: Does the Capital Asset Pricing Model Work? Chapter 8 Jane Smiths Investment decision (A) Case Chapter 2

Group Work Lecture & Discussion

Case Discussion Lecture & Discussion

Workin g break 6 7

Workin g break 8 9

Are Financial Markets Efficient? Jane Smiths Investment decision (B) Case Chapter 6 Chapter 15 Jane

Case Discussion Lecture & Discussion

Case Discussion Lecture & Discussion

Workin g break

Preparation on specific questions on the following case: Jane Smiths Investment decision (C)

Discussion on: Jane Smiths Investment decision (C) 11 Managing Institutional Investors Portfolio Investment policy, Investment risk tolerances, liquidity requirement, time horizons and unique circumstances of Pension Funds, Endowments, Foundations, mutual funds, Banks etc., Strategic Asset Allocation Versus Tactical Asset Allocation Active Equity Investing Passive Equity Investing Bond Portfolio Management Strategies Core and Satellite Portfolios Alpha and Beta separation Alternative Investments Portfolio Management Major Types of Alternative Investments viz., Real Estate, Hedge funds, Commodities etc., Monitoring and Rebalancing of Portfolio Performance Measurement and evaluation of portfolios Workin Preparation on specific questions given g break on: Harvard Management Company and Inflation Protected Bonds 12 Discussion on: Harvard Management Company and Inflation Protected Bonds

10

Smiths Investment decision (C) Case Chapter 25 Harvard Manageme nt Company and Inflation Protected Bonds Chpater 19

Group Work Lecture & Discussion

Case Discussion

2.3

Teaching methods/strategies Briefly describe below, the teaching methods/strategies (face to face lectures, online tutorial) used in this subject/unit: Face to face lectures, case studies, discussions on contemporary issues through class participation.

2.4

Student assessment Provide, in table format as shown below, a schedule of formal assessment tasks and major examinations for the subject/unit.

Assessment Type Class participation Group work submission

When assessed On going Within a week after completion of the course Exam week On going

Weighting 25% 15%

Learning Outcomes Assessed a, b, c, d, e, f a, b, f

Written Exam Quizzes 2.5

40% 20%

a, b, c, d, e, f

Prescribed and recommended readings Provide below, in formal reference format, a list of the prescribed and recommended readings Prescribed Text: Analysis of Investments & Portfolio Management ,Frank Reilly & Keith Brown, 10th Edition Recommended Texts Bodie. Z, Alex, K., Alan, M. & Mohanty P. (2009). Investments (8th ed). India: Tata McGraw-Hill. Malkiel, BG (2007). Random Walk Down Wall Street. USA: W.W. Norton & Co. Lynch, P., Rothchild, J. (2007) One Up On Wall Street : How to Use What You Already Know to Make Money in the Market. USA: Current Edition Penguin Group. Reilly, F. & Brown, K. (2008). Investment Analysis and Portfolio Management, (9th ed), Cengage Learning. Recommended Articles Black, Fisher and Litterman. (1992). Global Portfolio Optimization. Financial Analyst Journal.

Mark, Kritzman Toward Defining an Asset Class.

1999, Vol. 2, No. 1: pp. 79-82

The Journal of Alternative Investments Summer

More articles will be suggested during the course.