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Alternative Investments

  • Teacher(s):   T.Cho  
  • Course given in: English
  • ECTS Credits: 6 credits
  • Schedule: Autumn Semester 2021-2022, 4.0h. course (weekly average)
  •  sessions
  • site web du cours course website
  • Related programmes:
    Master of Science (MSc) in Finance, Orientation Asset and Risk Management

    Master of Science (MSc) in Finance, Orientation Corporate Finance

    Master of Science (MSc) in Finance : Financial Entrepreneurship and Data Science
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Objectives

Although there is no formal definition, alternative investment refers to any investment that is neither limited to traditional asset classes (such as cash, bonds, stocks) nor subject to conventional investment strategies/constraints/regulations (long-only, no leverage, etc.).

In this course, we will explore:

  • Various methods of alternative risk management and some other alternative investment/trading strategies
  • Alternative asset classes, such as hedge funds, private equity, real assets, and structured products

Note. It is required to bring your own laptop (Microsoft Excel installed) to the class.

Contents

1. Introduction and Review

  • Mathematics
  • Traditional risk management and financial derivatives

2. Alternative Risk Management and Investment Strategies

  • Portfolio protection
  • Return enhancement
  • Hedging

3. Hedge Funds

  • Hedge fund strategies
  • Measuring returns, risks, and performance
  • Investing in hedge funds

4. Structured Finance and Products

  • Structured products
  • Collateralised debt obligation (CDO) and other structured finance instruments

5. Other Alternative Asset Classes

  • Private equity
  • Real assets

References

References include:

  • Anson M., Handbook of Alternative Assets, John Wiley & Sons
  • CAIA Association, CAIA Level I & II, John Wiley & Sons
  • Lhabitant F.-S., Handbook of Hedge Funds, John Wiley & Sons

More references will be given in the class.

Pre-requisites

The participants are expected to have a good understanding in investments; advanced quantitative skills would be very helpful.

Evaluation

First attempt

Exam:
Written 3h00 hours
Documentation:
Allowed with restrictions
Calculator:
Allowed with restrictions
Evaluation:

Grade = 60% Final exam + 20% Quiz + 10% Project + 10% Participation

All calculators are allowed except those with communication features

Retake

Exam:
Written 3h00 hours
Documentation:
Allowed with restrictions
Calculator:
Allowed with restrictions
Evaluation:

Grade = 60% Retake exam + 20% Quiz + 10% Project + 10% Participation

All calculators are allowed except those with communication features



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