Investments: Analysis and Management provides learners with the theories and skills necessary to design and assess the performance of investment portfolios in a multitude of contexts. The class incorporates a range of perspectives that may be considered when assessing client needs and making the ‘investment decision’, including insights drawn from behavioural finance, asset management, and sustainable investment theory and practice. By taking this class, you will be reintroduced to the asset classes that most typically comprise investment portfolios in practice. You will learn to appreciate the behavioural elements of financial actors that make investment decisions and seek investment advice, with key sessions spent on risk appetite, investor types, and behavioural biases and heuristics of financial investors. You will further learn to appreciate the role of an asset manager, including their fiduciary duties and the different settings and contexts in which they must generate, monitor, and maintain an investment portfolio. You will also be introduced to key considerations in modern asset management, including alternative investments, investment banking, sectoral and cross-asset relationships and nuances, and the rise of sustainable investing. The latter half of the course will be a hands-on approach to making robust and performance-assessed investment portfolio decisions, given the context and the client. You will become proficient in modern portfolio theory and the mathematical principles that balance risk against returns and preferred asset classes. You will learn to derive efficient frontiers given an investment universe and become versed in performance measurement metrics used in practice. You will also learn to create and evaluate multi-asset portfolios that meet the needs of different risk preferences, client profiles, and investment horizons.

The module covers fundamental issues in investment analysis, portfolio optimisation, and asset management, including sessions on 'Reintroduction to the investment environment' (e.g. Equity, Debt, and Money Market securities), 'Modern Asset Management Landscape' (e.g. Function of Investment Banking & IPO Pricing; Sectoral and Cross-asset Analysis; Alternative Investments; Rise of Sustainable Investing & Enlightened Shareholder Value; Conflicts in Inclusion vs. Exclusion Criteria), 'Portfolio and capital market theory' (e.g. Risk and return; Modern portfolio theory; Portfolio selection), 'Applications of Portfolio Theory' (e.g. Mean-variance Optimisation; Efficient Frontier Determination; Risk-adjusted Return monitoring and performance assessment (e.g. Sharpe, Treynor, Jensen, Sortino); Adjusting for Risk Preference and Investment Horizon: HNWIs vs. Pension Plans vs. Defined Duration), 'Risk Appetite and Behavioural Finance' (e.g. Biases, Heuristics, and Planning for the Future; Retail Traders vs. Institutional Traders; Technical Analysis; The role of Sentiment; Efficient Market Theory), 'Role of Asset Management' (e.g. Passive vs. Active Management; Mutual Funds, Pension Funds; Fiduciary Duties of Asset Managers; The Advisor-Client Relationship; CFA Ethics on Investment Advice)

On successful completion of this module, students will be able to: Express the fiduciary duties of asset managers when making portfolio decisions in a cross-asset, international investment context Describe contemporary considerations and innovations in asset management that inform investment decisions made by asset managers and portfolio analysts Apply modern portfolio theory on a local and global universe of equities to derive optimal risk/return portfolios Analyse client profiles and risk appetites to determine appropriate multi-asset portfolio decisions Critically evaluate the performance of investment portfolios using appropriate measurement tools and robustness checks.

On successful completion of this module, students will be able to: Reflect on the ethical considerations related to the role of financial managers in investment analysis and management contexts.

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The module is delivered through a combination of in-person lectures, case studies, and practical lab exercises. The learning environment encourages active participation and critical thinking. Students will develop graduate attributes leading to analytical skills, ethical awareness, and strategic decision-making abilities through collaborative, active and applied learning methods. This module will be taught using Harvard Business Review (HBR) case studies to enhance real-world application of investment decision-making and financial analysis. The use of contemporary, practitioner-focused cases enables students to critically evaluate complex investment scenarios, apply theoretical frameworks to real market conditions, and develop evidence-based judgement aligned with professional investment practice. Students will fulfil UL Graduate Attributes in a technology enhanced environment. Curious: Students demonstrate curiosity by exploring international financial data and news to inform investment decision making and management. Agile: Learners are encouraged to adapt to evolving financial environments through a scenario-based case study by collaboratively analysing new information. Responsible: Students engage with case study scenarios that highlight the ethical and sustainable dimensions of investment decision making and analysis. Articulate: Group work requires students to present Portfolio Management strategies clearly, recognising stakeholder perspectives. They develop inter-personal skills through collaboration and intra-personal awareness by reflecting on their contributions.