Postgraduate Diploma in Investment Management

Purpose

This qualification is aimed at equipping learners with advanced theoretical and practical knowledge on equities, fixed income, derivatives, other alternative instruments and portfolio management as well as financial analysis, reporting and corporate finance. This qualification allows learners to develop an understanding of the ethical and risk environment in which they will operate. They will also build on their prior economics knowledge and learn how to model and forecast economic scenarios that will enable them to make predictions. Finally, learners can deepen their skills in specific areas - that is, global investments or company strategy and analysis.

This qualification builds on the Bachelor of Commerce in Investment Management, where the curriculum was aligned to the Chartered Financial Analyst (CFA) Level 1 curriculum. The curriculum of this Postgraduate Diploma was aligned to the CFA Level 2 curriculum. Learners who have completed the Postgraduate Diploma in Investment Management will be able to register for the CFA Level 2 examination.

The qualifying learner will

• Demonstrate knowledge of the ethical and risk management background against which investment management operates in order to operate efficiently in an investment management environment.
• Demonstrate a basic understanding of advanced economic concepts and how to model those statistically in order to be able to later on forecast prices for financial instruments and/or markets.
• Demonstrate an understanding of selected concepts in financial reporting, analysis and corporate finance from an American and South African perspective in order to be able to come to a conclusion about the entity analysed and make a recommendation/decision on whether to buy or sell.
• Demonstrate advanced knowledge of equities and fixed income, with regard to analysis, forecasting/pricing and decision making in order to present a recommendation or make investment decisions.
• Demonstrate basic knowledge of special fields like global investments, company strategy and analysis or performing an investment project so that the student can operate more efficiently in an investment management context.
• Demonstrate advanced knowledge of selected concepts on derivatives, alternative investments and portfolio management in order to successfully manage investment portfolios and the risks attached to it.

Rationale

With this qualification learners will acquire specific skills needed to perform professionally in an analyst or in fund manager's role at an entry level. Currently, most investment management companies have a similar qualification in a related discipline as an entry requirement into the role.

The typical learner will be an individual who is either currently working or who aspires to work as a fund manager or analyst and/or in another role in the investment management arena where detailed investment knowledge is required. This new qualification will add value to the sector by addressing a need for the integration of theoretical knowledge with the responsibilities of entry level managers through practical application.

Recognition of Prior Learning (RPL)

RPL access may be considered for mature age applicants and applicants with non-South African school-leaving qualifications or previous tertiary education experience. However, Recognition of Prior Learning assessment will be considered only on condition that it is assessed as equal to a formal 360 Credits Bachelor's qualification.

Entry Requirements

An applicant is required to have the following qualifications to gain access to this qualification

• Bachelor of Commerce or related Degree with majors in Banking and/or Investment Management.
• Bachelor of Commerce with other majors or a Bachelors' Degree (for example, BCompt, B Accounting or BAdmin) can also be admitted provided that applicants submit proof of relevant experience (2 years recommended) in the financial services and/or other evidence of suitability for admission.

The qualification comprises five compulsory modules and one elective, which amount to 120credits.

Compulsory Modules

• Advanced Ethics and Risk Management in the Investment Industry, 15 Credits.
• Economics and Statistics, 10 Credits.
• Financial Reporting and Analysis and Corporate Finance, 25 Credits.
• Equities and Fixed Income, 25 Credits.
• Alternative Investments and Derivatives and Portfolio Management, 25 Credits.

Elective Modules

Learners must register for one of the following electives, worth 20 Credits each

• Global Investments.
• Company Strategy and Analysis.
• Investment Project.

1. Demonstrate knowledge of the ethical and risk management background against which investment management operates in order to operate efficiently in an investment management environment.
2. Demonstrate a basic understanding of advanced economical concepts and how to model those statistically in order to be able to later on forecast prices for financial instruments and/or markets.
3. Demonstrate an understanding of selected concepts in financial reporting, analysis and corporate finance from an American and South African perspective in order to be able to come to a conclusion about the entity analysed and make a recommendation/decision on whether to buy or sell.
4. Demonstrate advanced knowledge of equities and fixed income, in terms of analysis, forecasting/pricing and decision making in order to present a recommendation or make investment decisions.
5. Demonstrate advanced knowledge of selected concepts on derivatives, alternative investments and portfolio management in order to successfully manage investment portfolios and the risks attached to it.
6. Demonstrate basic knowledge of special fields like global investments, company strategy and analysis or performing an investment project so that the student can operate more efficiently in an investment management context.

The following Assessment Criteria are applied in an integrated way to modules and specialised learning areas, where applicable, to determine competence in the Exit Level Outcomes:

Associated Assessment Criteria for Exit Level Outcome 1

• Various advanced ethical dilemmas facing the investment industry are considered and solved.
• Different socially responsible investment strategies are identified and evaluated.

Associated Assessment Criteria for Exit Level Outcome 2

• Different currency and economic scenarios are identified and linked back to the investment decision.
• The way in which an economic scenario is forecasted with the help of statistical models is explained.

Associated Assessment Criteria for Exit Level Outcome 3

• Very specific areas of financial statements are explained in detail.
• The concept of earnings quality and how financial ratios are analysed is explained and examples are given.
• Selected corporate finance concepts are explained and applied to a case scenario.

Associated Assessment Criteria for Exit Level Outcome 4

• Different equity valuation models are applied to a case scenario.
• Different fixed income valuation models are applied to a case scenario.
• Main principles of credit analysis are explained.

Associated Assessment Criteria for Exit Level Outcome 5

• Different aspects of portfolio management are explained in detail.
• Different categories of alternative investment tools and derivatives are valued and their use in a portfolio evaluated.

Associated Assessment Criteria for Exit Level Outcome 6

• Additional appropriate and more detailed knowledge of a specialist area that relates to investment management is applied on an entrance-level or an investment project is conducted.

Integrated Assessment

Integrated Assessment is used extensively across the qualification, particularly in case studies. Self and formative assessment takes place through case studies, assignments, including the writing of a proposal and executing a project. Summative assessments are integrated into the learning in that they take place at the end of each of the constituent modules of the programme.

The quality of the assessment is vital in order to provide credible certification and recognition of achievement. The institution makes every effort to ensure credibility in assessment through the application of clear and rigorous procedures and practices. These procedures and practices are controlled by the principles of fairness, validity, reliability and practicability. By implementing these principles, all parties concerned (including learners, employers and learning institutions) may be assured of the credibility of the assessment process. It is in this way that accurate information about the learner's performance against the assessment criteria may be provided.