...Investment Applications for our 2016 Investment Graduate Programme are now open. Programme details We are looking for entrepreneurial graduates to join our Investment division. As a graduate trainee within Investment you will be required to assist Fund Managers with research into particular investment strategies, providing analysis of the drivers of future returns and an understanding of the risks associated with them. The twoyear programme will provide you comprehensive training and support together with the practical and theoretical experience to prepare you for an agile and global career within investment. As part of your training you will gain experience in some of the following areas: Equities Equities is Schroders’ largest asset class and we manage over £134.4bn* in equity assets. As part of a rotation within Equities you will be required to assist Fund Managers with researching companies within a variety of sectors and countries creating proprietary financial models and research notes. Prior to recommending a stock, you will be expected to generate independent forecasts on the key drivers of the business and present your research to the team. Your analysis and recommendations will be subject to rigorous scrutiny by senior investment professionals therefore you will enjoy early responsibility and will be rewarded by knowing you have played a key part of the investment decision making process. Data Consultants are responsible for delivering insights to our internal customers...
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...mutual funds in Malaysia are becoming a preferred investment option compared to other investment avenues like Fixed Deposits (FDs) and postal savings that are considered safe but give comparatively low returns. But before investing in mutual funds, investors have to analyze the factors of the economy, industry and company within the investment environment in which they operate. There are several macro-economic factors having influence on the investment choices. The investigator intends to study more particularly, the impact of quantitative economic variables on the investment of mutual funds. The trends of the industry also have to be examined from time to time. In response to the changing circumstances, the fund houses have introduced a host of interesting technological innovations to grab the attention of the investors. Investors need to correctly appraise the risks and rewards of investing in schemes which seek to offer attractive returns. Total of 122 respondents were selected for data analysis. The respondents’ profile consists of demographic data namely, age, gender, occupation background, educational background, investment habit and years of investing activities. The gender, monthly income and race of respondent are not relevant for this research since it is basically focused on the investors’ habit in Malaysia. The perception will be taken into consideration as per their views on mutual fund investment. The last and final analysis of hypothesis testing is to complete the proposed...
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...Chapter-1 Introduction Before an investment decision is made it is necessary to determine whether or not the planned investment idea is feasible. The feasibility of an investment has to be considered with respect to several different aspects in order to determine whether the investment should be realized or not. Carrying out a feasibility analysis is therefore one of the most critical steps in the decision-making process. A feasibility analysis is an effective analytical tool that can be used to evaluate investments from various perspectives, e.g. technical, social, legal, financial, market, and organizational. Financial feasibility is often a predominant factor in feasibility analysis, as most investments are not realized if they do not generate profit for the project owners. The focus of this thesis is on financial feasibility analysis and its application in the decision-making process. Precision and reliability of feasibility analysis relies on the accuracy of information used in the analysis. The appropriate level of detail has to be decided with respect to what stage the investment is on. On early stages the level of uncertainty is often high, but as the investment opportunity evolves information become more detailed and reliable. As uncertainty can highly affect the results of the analysis, the level of detail has to be taken into account when basing decisions on the results. To assess the feasibility of investments relevant criteria have to be chosen. Feasibility...
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...Final Exam Study Guide YOU MAY WANT TO PRINT THIS GUIDE. 1. The Final Exam is open book and open notes. The maximum time you can spend in the exam is 3 hours and 30 minutes. If you have not clicked the Submit for Grading button by then, you will be automatically exited from the exam. In the Final Exam environment, the Windows clipboard is disabled, so you will not be able to copy exam questions or answers to or from other applications. 2. You should click the Save Answers button in the exam frequently. This helps prevent connection timeouts that might occur with certain Internet Service Providers and also minimizes lost answers in the event of connection problems. If your Internet connection does break, when you reconnect, you will normally be able to get back into your Final Exam without any trouble. Remember, though, that the exam timer continues to run while students are disconnected, so students should try to log in again as quickly as possible. The Help Desk cannot grant any student additional time on the exam. 3. See the Syllabus section "Due Dates for Assignments & Exams" for due date information. 4. Reminders * You will only be able to enter your online Final Exam one time. * Click the Save Answers button often. * If you lose your Internet connection during your Final Exam, log on again and try to access your Final Exam. If you are unable to enter the Final Exam, first contact the Help Desk and then your instructor. * You will always be able...
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...Investment Principles and Analysis Trinity University FNCE 3352 Spring 2010 INSTRUCTOR: Carl M. Hubbard, Ph.D., CFA Office: CGC N3l6; phone 999-7283, carl.hubbard@trinity.edu OFFICE HOURS: 9:30 – 11:30 MW; 2:30 – 4:00 TTh; Other times available by appointment. TEXTBOOK: Zvi Bodie, Alex Kane, and Alan J. Marcus. Essentials of Investments, 7th Edition. New York: McGraw-Hill, 2008. CALCULATOR: Texas Instruments BAII Plus Calculator COURSE OBJECTIVES The learning objectives for students in this course are: (l) improve your understanding of financial securities and markets, (2) develop the ability to analyze investment companies, common stocks, and bonds for investment decisions, (3) understand how options are valued and how option contracts are used in hedging and speculating, (4) understand how to apply security analysis techniques in relatively efficient capital markets, and (5) gain practical experience in trading securities. The prerequisite for this course is the completion of FNCE 3301 with a grade of C- or better. REQUIREMENTS OF THE COURSE 1. Complete the assigned readings and problems. 2. Attend and participate in each class meeting. 3. Complete the security analysis project. 4. Complete the three examinations as scheduled. READING AND PROBLEM ASSIGNMENTS The reading and problem assignments are designed to achieve the goals of the course and are to be completed in preparation...
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...Capital Budgeting Analysis Prepared by: Matt H. Evans, CPA, CMA, CFM This course provides a concise overview of capital budgeting analysis. This course is recommended for 2 hours of Continuing Professional Education. In order to receive credit, you will need to pass a multiple choice exam which is administered over the internet at www.exinfm.com/training A companion toll free course can be accessed by dialing 1-877-689-4097, option 3, ID 752. Chapter 1 The Overall Process Capital Expenditures Whenever we make an expenditure that generates a cash flow benefit for more than one year, this is a capital expenditure. Examples include the purchase of new equipment, expansion of production facilities, buying another company, acquiring new technologies, launching a research & development program, etc., etc., etc. Capital expenditures often involve large cash outlays with major implications on the future values of the company. Additionally, once we commit to making a capital expenditure it is sometimes difficult to backout. Therefore, we need to carefully analyze and evaluate proposed capital expenditures. The Three Stages of Capital Budgeting Analysis Capital Budgeting Analysis is a process of evaluating how we invest in capital assets; i.e. assets that provide cash flow benefits for more than one year. We are trying to answer the following question: Will the future benefits of this project be large enough to justify the investment given the risk involved...
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...markets real estate investments perform better than equities and other asset classes. In emerging markets probably you have to go for development projects, as rental yield is not very attractive. In most of the developed markets real estate has performed better than stock market over time. And by leveraging your investment you can increase your return on equity many folds. Cash flow component in return: This one of the best thing about real estate investments – it behaves like a fixed income security, and with better yield. Rental income makes real estate more attractive even during tough time and many investors love to focus on the cash flow. Depreciation: You can’t depreciate your stocks, bonds and mutual funds. Depreciation is a gift from the government for real estate investors. Dampening of volatility in the portfolio: Real estate prices don’t fluctuate on daily basis. Fully optimized portfolios with real estate component in it have much lower volatility. Inflation hedge: real estate investments provide a good hedge against inflation. Rents usually increase with inflation, while mortgage payments on the property remain stable. This increases cash flow component. WHY SHOULD YOU NOT INVEST IN REAL ESTATE? Illiquid: Many a times real estate investments behave like illiquid assets. Generally it takes time to execute an actual exit, and liquidity can completely disappear from the market in tough times. Management intensive: Yes, it takes time and skill. You need to be able...
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...Investment Principles and Analysis Trinity University FNCE 3352 Spring 2010 INSTRUCTOR: Carl M. Hubbard, Ph.D., CFA Office: CGC N3l6; phone 999-7283, carl.hubbard@trinity.edu OFFICE HOURS: 9:30 – 11:30 MW; 2:30 – 4:00 TTh; Other times available by appointment. TEXTBOOK: Zvi Bodie, Alex Kane, and Alan J. Marcus. Essentials of Investments, 7th Edition. New York: McGraw-Hill, 2008. CALCULATOR: Texas Instruments BAII Plus Calculator COURSE OBJECTIVES The learning objectives for students in this course are: (l) improve your understanding of financial securities and markets, (2) develop the ability to analyze investment companies, common stocks, and bonds for investment decisions, (3) understand how options are valued and how option contracts are used in hedging and speculating, (4) understand how to apply security analysis techniques in relatively efficient capital markets, and (5) gain practical experience in trading securities. The prerequisite for this course is the completion of FNCE 3301 with a grade of C- or better. REQUIREMENTS OF THE COURSE 1. Complete the assigned readings and problems. 2. Attend and participate in each class meeting. 3. Complete the security analysis project. 4. Complete the three examinations as scheduled. READING AND PROBLEM ASSIGNMENTS The reading and problem assignments are designed to achieve the goals of the course and are to be completed in preparation for the discussion of that...
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...Definition: In an active portfolio strategy, a manager uses financial and economic indicators along with various other tools to forecast the market and achieve higher gains than a buy-and-hold (passive) portfolio. Tracking error is a measure of how closely a portfolio follows the index to which it is benchmarked. The most common measure is the root-mean-square of the difference between the portfolio and index returns. Many portfolios are managed to a benchmark, normally an index. Some portfolios are expected to replicate, before trading and other costs, the returns of an index exactly (an index fund), while others are expected to 'actively manage' the portfolio by deviating slightly from the index in order to generate active returns or to lower transaction costs. Tracking error (also called active risk) is a measure of the deviation from the benchmark; the aforementioned index fund would have a tracking error close to zero, while an actively managed portfolio would normally have a higher tracking error. Dividing portfolio active return by portfolio tracking error gives the information ratio, which is a risk adjusted performance metric. If tracking error is measured historically, it is called 'realised' or 'ex post' tracking error. If a model is used to predict tracking error, it is called 'ex ante' tracking error. The former is more useful for reporting performance, whereas ex ante is generally used by portfolio managers to control risk. The individual investors who wish...
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...Brochure More information from http://www.researchandmarkets.com/reports/2329821/ PESTLE Analysis of China 2012 Description: China’s economy has experienced a strong annual GDP growth rate of 10% during the last five years. It is expected to continue its growth momentum and surpass the US in GDP by 2020. A high rate of savings, abundant and increasingly skilled labor, healthy export business, and potential urban growth is likely to drive the Chinese economy to sustained growth during 2012- 2017. Lucintel, a leading global management consulting and market research firm, performed a Political, Economical, Sociological, Technological, Legal, and Environmental (PESTLE) analysis of China and presents its findings in “PESTLE Analysis of China 2012.” As indicated in the study, foreign direct investment (FDI) has proven to be the driving force for China’s ongoing economic growth. The large and expanding market of China is attracting leading multinationals, encouraging local innovators, allowing domestic manufacturers to produce lowcost products, and permitting formation of industry clusters and business groups. Successive governments’ focus on reform processes and simplification of China’s tax law and FDI procedures makes China an ideal destination for investment and growth. The report also indicates that large-scale production diminishes production costs, leading to less-expensive exports. China’s strong presence as an export platform supports income and employment growth in the economy...
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...Overview of the Course The course is an introduction to the concepts, principles and analytical methods involved in making the broad variety of key investment decisions regarding commercial real estate. It is designed to supplement, rather than replace SURP 844: Real Estate Project Planning. Therefore, the emphasis of this course is on commercial real estate investment rather than development. However, some elements of the latter will inevitably be addressed. The focus will be on fullyoperational income-generating properties, primarily large in scale. The main asset types of office, industrial, retail and multi-unit residential will be discussed (and possibly a few more specialized types). Another emphasis of the course will be on the micro level – the evaluation of the investment merits of individual properties (or at least individual transactions). Less attention will be paid to the macro level i.e. portfolio management. To the extent possible, the course content (including readings, cases and assignments) will be Canadian (although it is recognized that real estate investment is increasingly a global endeavor). This is primarily a combination seminar and case study course. It is designed around a cornerstone of five carefully chosen guest speakers, who will each address their specific area of expertise within commercial real estate investment. Course readings, case studies, exercises and assignments complement the guest lectures. With its “hands-on” practical orientation, this course...
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...Homework 4 Option Investment Policies Click Link Below To Buy: http://hwcampus.com/shop/homework-4-option-investment-policies/ STEP ONE: Update securities prices daily. Prepare an Excel Spreadsheet Investment analysis of Investment Returns. Submit the Investment Returns Analysis to the P4-Investment Returns Analysis Assignment Folder. STEP TWO: You have been given an additional $100,000 to purchase a Portfolio of five (5) Option Contracts at Beginning of Week 4 (Note: Recommend Using CBOE.com for Option Information.) Please keep in mind that you do not have the luxury of trading or selling and/or buying securities during your portfolio holding period. After you determine your initial portfolio you must buy the portfolio using the HYPERLINK "http://www.cboe.com/tradtool/virtualtrade.aspx" CBOE Virtual Trade Tool ( HYPERLINK "http://www.cboe.com/tradtool/virtualtrade.aspx" http://www.cboe.com/tradtool/virtualtrade.aspx). The commission costs per trade (using CBOE Virtual Trade) are $9.95/trade for stocks and ETFs and $14.95/trade for options. The securities you select for your portfolio can be selected from any traded securities that are available on CBOE Virtual Trading. (Exception! you may not invest in mutual funds or the S&P 500 market index) STEP THREE: The assignment for the fourth week is to make your first option contract purchases using the CBOE Virtual Trade Tool ( HYPERLINK "http://www.cboe.com/tradtool/virtualtrade.aspx" http://www.cboe.com/tradtool/virtualtrade...
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...Course 3: Capital Budgeting Analysis Prepared by: Matt H. Evans, CPA, CMA, CFM This course provides a concise overview of capital budgeting analysis. This course is recommended for 2 hours of Continuing Professional Education. In order to receive credit, you will need to pass a multiple choice exam which is administered over the internet at www.exinfm.com/training A companion toll free course can be accessed by dialing 1-877-689-4097, option 3, ID 752. Chapter 1 The Overall Process Capital Expenditures Whenever we make an expenditure that generates a cash flow benefit for more than one year, this is a capital expenditure. Examples include the purchase of new equipment, expansion of production facilities, buying another company, acquiring new technologies, launching a research & development program, etc., etc., etc. Capital expenditures often involve large cash outlays with major implications on the future values of the company. Additionally, once we commit to making a capital expenditure it is sometimes difficult to backout. Therefore, we need to carefully analyze and evaluate proposed capital expenditures. The Three Stages of Capital Budgeting Analysis Capital Budgeting Analysis is a process of evaluating how we invest in capital assets; i.e. assets that provide cash flow benefits for more than one year. We are trying to answer the following question: Will the future benefits of this project be large enough to justify the investment given the risk involved? It...
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...recommendations that are designed to provide more efficient use of the client's growing resources, to improve net worth, to reduce income and estate taxes, and to increase after-tax cash flow. A fact-finding session helps us become totally familiar with your current financial situation, as well as your personal goals and priorities. Working from the comprehensive information gathered in the fact-finding session, a detailed financial plan is prepared which documents your current situation, identifies all areas that will be impacted, and makes specific goal-oriented recommendations. Recognizing our ever-changing tax environment, we also work to assure that you are positioned in the most effective manner relative to your personal tax situation. Each recommendation in our analysis is then thoroughly reviewed with you to confirm your understanding and support of each recommendation. If desired, we actively assist in the full implementation of every plan recommendation in conjunction with the other members of your financial advisory team. The following example is a combination of two actual cases that were completed during the 2002 calendar year. The following example provides a realistic example of some of the benefits that a financial plan can provide. Marke & Cher Daler In many financial planning cases, there are one or more variables that have a substantial impact on the results of the analyses. Sometimes these variables are unknown at the...
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...CAREER GUIDE TO INVESTMENT MANAGEMENT ANDREW SCHLOSSBERG WITH ALEXANDER GORELIK AND THE STAFF OF VAULT © 2002 Vault Inc. Vault Career Guide to Investment Management Table of Contents INTRODUCTION 1 History . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2 The Industry Today . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5 THE SCOOP Buy-side vs. Sell-side 3 11 Jobs on the Buy-side . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12 Jobs on the Sell-side . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 Recommended Reading . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18 The Clients of Asset Managers 21 Mutual Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .22 Institutional Investors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .25 High Net Worth . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29 Investment Styles 33 Type of Security . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .34 Risk Characteristics of Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . .35 Portfolio Construction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .39 Summary of Investment Styles . . ....
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