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March 17, 2024

UMACRN-15-M Portfolio Management

UMACRN-15-M Portfolio Management

Submission details

Module title and code:         UMACRN-15-M Portfolio Management

Assessment type:                  Written Assignment

Assessment title:                   Portfolio Management Essay

Assessment weighting:         30% of total module mark

Size or length of assessment: Maximum 2000 words (no + 10% to be used)

UMACRN-15-M Portfolio Management

Module learning outcomes assessed by this task:

  1. MO1: Critically analyse the characteristics and features of a variety of investment funds including alternative investments such as hedge funds and private equity.
  2. MO2: Critically evaluate the relative merits and limitations of a range of passive and active strategies for asset allocation and security selection decisions.
  3. MO3: Critically review and discuss empirical results generated in the finance literature.
  4. MO7: Develop awareness and critical appreciation of the environmental, social, governance (ESG) dimension of investing.

Completing your assessment

What am I required to do on this assessment?

Write an essay, of no more than 2000 words, on ONE of the FOUR questions given. Study the content requirements and background reading for each question carefully before deciding which one to choose.

The essay should be well structured with sub-headings and tables or graphs where appropriate, and draw on recent research and statistics.

UMACRN-15-M Portfolio Management

Question 1.

Write an essay, of no more than 2000 words, in which you discuss the main features of private equity and its relationship with the credit crunch of 2008. The essay should address the following questions:

  • What is “Private Equity”?
  • What is the main business model of a typical private equity firm?
  • Was private equity responsible for the credit crunch?
  • How has private equity been impacted since the credit crunch of 2008?

Question 2.

Write an essay, of no more than 2000 words, in which you discuss the features of, and issues around, hedge funds. The essay should address the following questions:

  • the main features of hedge funds
  • the current issues/problems with hedge funds
  • potential solutions to these problems.

UMACRN-15-M Portfolio Management

Question 3.

Environmental, social, and governance (ESG) investing could reach $1 trillion by 2025. Companies with strong ESG track records are getting stronger demand from investors. However, Friedman (1970) argues that making a profit is the only socially responsible thing a company should do. Social and environmental issues are not the business of corporations. Friedman’s (1970) argument assumes that ESG investments and activities expend company resources and divert managers’ attention from company operational roles and responsibilities. This ultimately harms shareholder wealth. In contrast, stakeholder theory states that a company should consider stakeholders’ interests, not just the interests of shareholders (Freeman, 1984).

Considering the above contrasting views, you are asked to write a short report, of no more than 2,000 words in which you discuss:

  • the rationale (if any) for investing in ESG.
  • whether ESG investing offers better risk-adjusted return; and
  • two or more deficiencies found in the ESG market.

Question 4.

There has been a significant and ongoing shift from active to passive investment strategies, with passive set to overtake active by 2026 if growth is sustained. Write an essay, of no more than 2000 words, in which you discuss the features of active and passive asset management: and the implications of this shift. APA.

The essay should address the following questions:

  • the main features of active and passive asset management
  • theoretical justification for the active or passive approach
  • which in your view offers better risk adjusted returns, based on empirical evidence?
  • the wider implications of the shift towards passive asset management.