ULMS Electronic Module Catalogue
The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title Portfolio Theory
Code ACFI923
Coordinator Professor OT Henry
Finance and Accounting
Olan.Henry@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2024-25 Level 7 FHEQ First Semester 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):
 

Modules for which this module is a pre-requisite:
 

Programme(s) (including Year of Study) to which this module is available on a required basis:
 

Programme(s) (including Year of Study) to which this module is available on an optional basis:
 

Teaching Schedule
  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours 20

 5

         25
Timetable (if known)              
Private Study 125
TOTAL HOURS 150

Assessment
EXAM Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Examination Standard UoL penalties apply There is a resit opportunity Marked anonymously  2    80       
CONTINUOUS Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Individual essay Standard UoL penalties apply There is a resit opportunity Marked anonymously  0    20       

Aims

To understand and appreciate the basic notions underlying the management and selection of efficient investments for portfolio construction. Special emphasis is given to notions of efficiency and the discussion of selection criteria.

Learning Outcomes

(LO1) Appreciate the pivotal elements of decision making under certainty and uncertainty, risk and risk management, portfolio choice, management and performance evaluation.

(LO2) Develop a systematic understanding, knowledge and critical awareness of the nature, concepts and construction of portfolios, having regard for the type of investor.

(LO3) Apply knowledge, understanding and techniques underlying portfolio management strategies including risk management strategies in uncertain contexts.

(LO4) Develop a conceptual and practical understanding of the understanding of performance evaluation of portfolios at the forefront of current practice.

(S1) Adaptability

(S2) Numeracy

(S3) Commercial awareness

(S4) Teamwork

(S5) Organisation skills

(S6) Communication skills

(S7) International awareness

(S8) Lifelong learning

(S9) Ethical awareness

(S10) Leadership

Teaching and Learning Strategies

2 hour lecture x 10 weeks
1 hour seminar x 5 weeks
125 hours self-directed learning

Syllabus
 

Investment decisions under certainty and uncertainty;

The mean-variance approach to portfolio management: Theory and implementation;

The CAPM and multi-factor asset pricing models: Theory and Estimation;

Investment performance evaluation;

Portfolio selection and risk management.

Practical portfolio management, to include topics from:

Management of Individual/Family Investor Portfolios;

Investment Manager Selection;

Mutual Funds, Pooled Funds, and ETFs;

Execution of Portfolio Decisions;

Presentation of Performance Results (GIPS).

Alternative Investments, including:

Types of Alternative Investments and their Characteristics;

Real Estate;

Private Equity/Venture Capital;

Hedge Funds;

Closely-Held Companies and Inactively Traded Securities;

Distressed Securities/Bankruptsies;

Commodities;

Tangible Assets with Low Liquidity;

Alternative Investments Management St rategies.

Recommended Texts
Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.