Asset Management
Code
2214
Academic unit
null
Department
null
Credits
3,5
Teacher in charge
Martijn Boons
Teaching language
English
Objectives
This course examines asset management in theory and practice, covering topics including International diversification (strategic and tactical) asset allocation, (active and passive) portfolio optimization, predictability, performance measurement, benchmarking and risk, hedge funds. The class addresses these issues in the context of stock, bond and alternative asset markets, such as commodities, hereby focusing on issues of market efficiency, risk and return characteristics, and manager strategies and incentives.
Prerequisites
N/A
Subject matter
The course will consist of lectures and in‐class discussions of cases and empirical assignments, for which students should prepare carefully. The aim of the course is to provide students with an understanding both of sound theoretical principles of finance and of the practical environment in which financial decisions are made.
Bibliography
Asset Management - A Systematic Approach to Factor Investing by Andrew Ang, 1st edition 2014
Investments, 9th edition by Bodie, Kane and Marcus, McGraw-Hill Irwin
Recommended:
Active Portfolio Management, 2nd Edition by Grinold and Kahn, McGraw-Hill Financial
Markets and Corporate Strategy, 2nd Edition by Grinblatt and Titman, McGraw-Hill.
Investment Management by Bernstein and Damodaran, Wiley.
The Essays of Warren Buffett: Lessons for Corporate America, arranged by Lawrence Cunningham
RESOURCES.
Class Handouts. Exercises and other material will be provided ahead of the classes.
Teaching method
Classes are weekly and last for 3 hours. Classes are devoted to the presentation of the material by the instructor and to application of the material in the form of exercises. Also, we will discuss potential applications of the material to real-world problems. The assignments serve to analyze such problems in small groups of students who present their findings.
Evaluation method
Final grades will be determined as follows: