1.ndividual homework and Participation:25% 2.Midterm exam:25% 3.3 group assignments:30% 4.Group Term project “Portfolio Product Design”:20%
課程大綱 Course syllabus
本課程教學大綱已提供完整英文資訊(本選項僅供統計使用,未提供完整英文資訊者,得免勾記)【Provide information of course syllabus in English.(This is for statistical use only. For those who do not provide information of course syllabus in English, do not check this field.)】
Portfolio management is the professional management of a collection of financial instruments to meet specified investment goals for the benefit of the investors. In essence, portfolio managers pursue better returns under constraints of risk control, liquidity requirements, and transaction cost considerations. Applications of portfolio management can be seen from straightforward mutual fund investment of individual investors to much more complicated university endowment fund management, pension fund management, or even gigantic sovereign fund management. Though challenging and even intimidating, portfolio management is a must-have domain know-how for financial professionals. It will be beneficial to graduate students to be exposed to the theories, real world applications, product design, and regulation issues in this field through formal course training. Hopefully at the end of semester, the audience will be motivated to go in this direction in their professional career path.
課程目標 Objectives
This course emphasizes on subjects like asset allocation, pension systems, university endowment fund management, and portfolio product design. In class discussions will center at international trends of fund regulations, fund product development, and investor behavior facing the turbulent financial environment. The course is consists of two parts: Part I covers the concept and fundamentals of portfolio theory, the standard investment procedures, efficient portfolio, asset allocation models, and risk budgeting. Part II will be product oriented. CAPM (the capital asset pricing model) and APT (the arbitrage pricing theory) will set the foundation. We then introduce and analyze applications of the models. Investment products like ETF, index fund, index arbitrage, hedge fund strategies and performance evaluation will be covered. During the semester, fund industry development in Taiwan, pension schemes in Taiwan, Hong Kong and Singapore, and university endowment fund management strategy will be used as case study materials.
1.Individual homework and participation :25% 2.Midterm exam:25% 3.3 group assignments:30% 4.Group Term project “Portfolio Product Design” :20%
參考書/教科書/閱讀文獻 Reference book/ textbook/ documents
〔請遵守智慧財產權觀念,不可非法影印。教師所提供之教材供學生本人自修學習使用,不得散播及做為商業用途〕
No copies for intellectual property rights. Textbooks provided by the instructor used only for self-study, can not broadcast or commercial use
Lecture notes will be distributed in class.
彈性暨自主學習規劃 Alternative learning periods
本門課程是否有規劃實施學生彈性或自主學習內容(每1學分2小時)
Is any alternative learning periods planned for this course (with each credit corresponding to two hours of activity)?
否:教師需於「每週課程內容及預計進度」填寫18週課程進度(每1學分18小時之正課內容)。 No:The instructor will include an 18-week course plan in the weekly scheduled progress (each credit corresponds to 18 hours of instruction)
是:教師需於「每週課程內容及預計進度」填寫16週課程內容(每1學分16小時之正課內容),並於下列欄位填寫每1學分2小時學生彈性或自主學習內容。 Yes:The instructor will include a 16-week course plan in the weekly scheduled progress (each credit corresponds to 16 hours of instruction);the details of the planned alternative learning periods are provided below (each credit corresponds to two hours of activity).
學生彈性或自主學習活動 Alternative learning periods
勾選或填寫規劃內容 Place a check in the appropriate box or provide details
時數 Number of hours
學生分組實作及討論 Group work and discussion
參與課程相關作業、作品、實驗 Participation in course-related assignments, work, or experiments
參與校內外活動(研習營、工作坊、參訪)或競賽 Participation in on- or off-campus activities (e.g., seminars, workshops, and visits) or competitions
課外閱讀 Extracurricular reading
線上數位教材學習 Learning with online digital learning materials
Fund markets in Taiwan – highlight of different types of funds
7
2022/03/27~2022/04/02
Single Factor Models v. Multi-Factor Models
8
2022/04/03~2022/04/09
Preparatory session
9
2022/04/10~2022/04/16
Midterm exam
10
2022/04/17~2022/04/23
Pension systems – DB and DC schemes
11
2022/04/24~2022/04/30
Pension fund management
12
2022/05/01~2022/05/07
Performance Evaluation of funds
13
2022/05/08~2022/05/14
University endowment fund management: Examples
14
2022/05/15~2022/05/21
Performance of major government funds
15
2022/05/22~2022/05/28
A Closer View to Mutual funds, Fund of funds, Hedge funds
16
2022/05/29~2022/06/04
Group project presentations
17
2022/06/05~2022/06/11
Group project presentations
18
2022/06/12~2022/06/18
Final exam
課業討論時間 Office hours
時段1 Time period 1: 時間 Time:星期一12:00~14:00 地點 Office/Laboratory:管CM4102 時段2 Time period 2: 時間 Time:星期四12:00~14:00 地點 Office/Laboratory:管CM4102
系所學生專業能力/全校學生基本素養與核心能力 basic disciplines and core capabilitics of the dcpartment and the university
系所學生專業能力/全校學生基本素養與核心能力 basic disciplines and core capabilities of the department and the university
課堂活動與評量方式 Class activities and evaluation
本課程欲培養之能力與素養 This course enables students to achieve.
紙筆考試或測驗 Test.
課堂討論︵含個案討論︶ Group discussion (case analysis).
個人書面報告、作業、作品、實驗 Indivisual paper report/ assignment/ work or experiment.
群組書面報告、作業、作品、實驗 Group paper report/ assignment/ work or experiment.
個人口頭報告 Indivisual oral presentation.
群組口頭報告 Group oral presentation.
課程規劃之校外參訪及實習 Off-campus visit and intership.
證照/檢定 License.
參與課程規劃之校內外活動及競賽 Participate in off-campus/ on-campus activities and competitions.
課外閱讀 Outside reading.
※系所學生專業能力 Basic disciplines and core capabilities of the department
1.學生能夠辨識和理解國際經營管理環境中的跨文化問題,並能與不同文化背景者進行有效溝通。 1. Students are able to identify and understand cross-cultural issues as they arise in an international management context and can communicate effectively with people from different cultural backgrounds.
2.學生能了解國際商業環境中的倫理和社會責任問題,並能從多個利益關係者的角度加以批判性分析。 2. Students are aware of ethical and social responsibility issues that may arise in an international business context and are able to critically analyze these issues from the perspectives of multiple stakeholders.
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3.學生能以當代管理理論為基礎,辨別和分析全球商業環境中的關鍵性管理議題與挑戰。 3. Based on a strong foundation of contemporary management theories, students are able to identify and analyze key management challenges in the global business environment.
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4.學生具有全球視野的商業經營能力,並具備對區域和地方問題的認識與關懷。 4.Students develop a global vision on doing business, but maintain an awareness of regional and local issues.
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5.學生能發展批判性思考和問題解決的能力。 5.Students develop critical thinking skills and problem-solving abilities.
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※全校學生基本素養與核心能力 Basic disciplines and core capabilities of the university
1.表達與溝通能力。 1. Articulation and communication skills
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2.探究與批判思考能力。 2. Inquisitive and critical thinking abilities
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3.終身學習能力。 3. Lifelong learning
4.倫理與社會責任。 4. Ethnics and social responsibility
5.美感品味。 5. Aesthetic appreciation
6.創造力。 6. Creativity
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7.全球視野。 7. Global perspective
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8.合作與領導能力。 8. Team work and leadership
9.山海胸襟與自然情懷。 9. Broad-mindedness and the embrace of nature
Internship: The required or elective courses should include credits and learning hours. Students should participate in the corporative company or institution to practice and learn the real skills. An internship certification must be handed in at the end of internship to get the credits or to fulfil the graduation requirements.