Investment Management

Course Director: Mehran Ebrahimian

Course administrator: Anneli.Sandbladh@hhs.se

To complete the specialization, ensure you finalize both BE0452 and BE0453. Any completed course from a discontinued specialization will be counted as a course in addition to the degree and can never be counted as an elective course within the degree. This does not apply to exchange students.

For questions, email: academic.advisor@hhs.se

This course offers a study of concepts and evidence relevant to investment and introduces applied topics on investment management. Topics include basics of financial markets and institutions, asset classes, and investment companies; basics of portfolio choice, diversification, risk and return, CAPM, index models; Investment strategies, size and value premium, and style investment; market efficiency, factor models, behavioral approaches; applied fund management, performance evaluation, mutual funds, hedge funds, international diversification, and emerging markets, and investment for individuals. The end goal is to get familiar with the state-of-the-art practice in investment management.

SSE students: To be admitted to a specialization, the student must fulfill the following criteria no later than after the
examination period in December/January before the specialization starts.

• have passed at least 45 ECTS credits out of the mandatory course requirements.
• have passed the mandatory courses required for the specialization: BE0401 Finance I, BE0402 Finance II, BE0601 Data Analytics I, and BE0602 Data Analytics II

Exchange students are assumed to have a good knowledge of basic accounting and financial statement analysis and prior knowledge in finance corresponding to the first two Bachelor's courses in Finance.

Given that investment management requires one to understand and work with uncertainty, a good knowledge of the basics of statistics is essential; familiarity with statistical objects, such as mean, variance, and covariance, as well as univariate and multiple regressions, is required.

• Required Textbook: Investments, by Zvi Bodie, Alex Kane, and Alan Marcus, 13th International Edition, published by McGraw-Hill.
• Optional Textbook: Corporate Finance, by Jonathan Berk and Peter DeMarzo, 6th Global Edition, published by Pearson
• Optional Textbook: Efficiently Inefficient: How Smart Money Invests and Market Prices Are Determined, by Lasse Pedersen, published by Princeton University Press.

The evaluation of this course is based on

• a group project with 2 members on programming with data on empirical stock returns and fund performance (10%)
• two individual homework assignments on case discussions (15%)
• a final exam (75%)

Find the course schedule in TimeEdit

Have you been granted educational support because of a documented disability? If so, please contact the course director as soon as possible so that adequate accommodations can be made.

Contact specialneeds@hhs.se if you have questions about being granted educational support or need a copy of your educational support certificate.

For more information, visit the Specific Educational Needs page on the Student Hub (login required).