ICM327-Alternative Investments

Module Provider: ICMA Centre
Number of credits: 10 [5 ECTS credits]
Level:7
Terms in which taught: Summer term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2022/3

Module Convenor: Prof Marcel Prokopczuk
Email: m.prokopczuk@icmacentre.ac.uk

Type of module:

This module aims to provide students with an understanding of financial decision making in the context of alternative investments.Ìý

Summary module description:

In this module, alternative forms of financial investments are discussed. In particular, the following topics are covered:

• Introduction to Alternative Investments: Hedge Funds: Market Structure, Strategies and Performance Evaluation


• Macro and Managed Futures Funds


• Funds of Hedge Funds


• Commodities: Physical and Financial Markets. Energy, Agricultural, Metals.


• Real Estate: Investment Types. Commercial and Residential markets. Valuation Approaches


• Collectables: Art, Wine and other Special Forms of Investments

Aims:

This module aims to provide students with an understanding of financial decision making in the context of alternative investments.

Assessable learning outcomes:

On completion of the module, students will be expected to be able to:Ìý

• Describe the nature of alternative investments


• Discuss the particularities of different forms of alternative investments, especially hedge funds, commodities and real estate


• Characterize the benefits and risks of different alternative investment classes

Additional outcomes:

Outline content:

• Introduction to Alternative Investments


• Hedge Funds: Market Structure, Strategies and Performance Evaluation


• Macro and Managed Futures Funds


• Funds of Hedge Funds


• Commodities: Physical and Financial Markets. Energy, Agricultural, Metals.


• Real Estate: Investment Types. Commercial and Residential Markets. Valuation Approaches


• Collectables: Art, Wine and other Special Forms of Investments

Brief description of teaching and learning methods:

Lectures will be used for both, the exposition of theory and for demonstrating applications to real world problems. There will be a total of 10h lectures. The techniques used to achieve the stated module objectives will consist of a combination of active teaching, question-answer sessions, problem solving, and class discussions.

Contact hours:

Ìý	Autumn	Spring	Summer
Lectures			10
Seminars			4
Guided independent study:	Ìý	Ìý	Ìý
Ìý Ìý Wider reading (independent)			36
Ìý Ìý Reflection			50
Ìý	Ìý	Ìý	Ìý
Total hours by term	0	0	100
Ìý	Ìý	Ìý	Ìý
Total hours for module	100

Summative Assessment Methods:

Method	Percentage
Written exam	100

Summative assessment- Examinations:

One written examination (60min)

The examination for this module will require a narrowly defined time window and is likely to be held in a dedicated exam venue.

Summative assessment- Coursework and in-class tests:

Formative assessment methods:

Penalties for late submission:

The below information applies to students on taught programmes except those on Postgraduate Flexible programmes. Penalties for late submission, and the associated procedures, which apply to Postgraduate Flexible programmes are specified in the policy £Penalties for late submission for Postgraduate Flexible programmes£, which can be found here: /cqsd/-/media/project/functions/cqsd/documents/cqsd-old-site-documents/penaltiesforlatesubmissionpgflexible.pdf
The Support Centres will apply the following penalties for work submitted late:

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;
• where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

The University policy statement on penalties for late submission can be found at: /cqsd/-/media/project/functions/cqsd/documents/cqsd-old-site-documents/penaltiesforlatesubmission.pdf
You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Assessment requirements for a pass:

A minimum mark of 50%.

Reassessment arrangements:

By written examination as part of the overall examination arrangements for the MSc programme.

Additional Costs (specified where applicable):

Last updated: 22 September 2022