30187 - ALTERNATIVE INVESTMENTS
CLEAM - CLEF - CLEACC - BESS-CLES - BIEMF
Course taught in English
Go to class group/s: 31
The course aims to provide an in-depth understanding of the alternative investment techniques available to private and institutional investors in a globalized market. In particular the course aims to add a new dimension to the construction and management of traditional investment portfolios by focusing on alternative asset classes and by presenting them in detail within an academic and practical framework.
The emphasis is on four major classes of alternative investments: Hedge Funds, Real Estate, Insured Linked Securities, and Art. Asset classes are examined in terms of the following aspects: key characteristics, investment strategies, and portfolio consideration (risk/return profile and contribution to portfolio diversification). The aforementioned objectives are addressed in a series of formal lectures that are supplemented by live deals in the form of case studies and guest speakers from the industry.
Alternative investments: definition and taxonomy
Insurance Linked Securities: definition, main features
Art investment: art vs. traditional asset classes; art performance and contribution to portfolio diversification; art funds (best and worst practices)
Real estate: investment strategies (MBS, REITs, REIFs, ETFs); performance and contribution to portfolio diversification
Hedge funds: hedge funds vs. mutual funds; investment strategies and contribution to portfolio diversification
The alternative investment industry: a synoptic view
Students can choose among three different options:
a final general exam;
two partial exams;
a combination of two individual partial exams and group assignments (for attending students only).
General and partial exams are both written. Group assignments: students are required to prepare and deliver a written document as well as to give an oral presentation.
There are no required textbooks. Required readings and teachers’ notes (power point slides) will be available at the Course Web Page.