Vietnam National University – HCMC

International University
DEPARTMENT OF MATHEMATICS

COURSE SYLLABUS1
MAFE402IU
Portfolio Management

Note: The outline with specific venue and time, and updated learning
materials for the current semester will be provided to the enrolled students
by the lecturer
1. COURSE STAFF

Instructor: Vo Xuan Hong,

Room: A1.305
Telephone:
E-mail: vxhong@hcmiu.edu.vn
Consultation Hours: Thursday, 8 a.m. – 9.30 a.m.

Teaching Assistant: TBA

Room: TBA
Telephone:
E-mail: TBA
Consultation Hours: TBA

Should the students wish to meet the instructor outside the consultation hours, they are
advised to make appointment in advance.

2. COURSE INFORMATION

2.1 Teaching times and Locations

Lecture: Tuesday, 10.30 a.m-1pm.

Venue:

2.2 Units of Credit

This course is worth 3 credits.

2.3 Parallel teaching in the course

There is no parallel teaching involved in this course.

2.4 Relationship of this course to others

This course is designed for students who are assumed to have background knowledge of
finance, thus students undertaking this subject are expected to attend the unit
Fundamental of Financial Management in order to obtain full advantage of understanding
issues in finance.

2.5 Approach to learning and teaching

Critical thinking and discussing unit-related issues are strongly encouraged. The
problem-solving learning and interactive teaching approach will be undertaken. The
lecture materials will be uploaded in Blackboard to help the students to preview the
materials and to concentrate on listening and critical thinking during the lecture. This will
help students to interact with the lecturer during the classroom.

3. COURSE AIMS AND OUTCOMES

3.1 Course Aims

Portfolio Theory and Investment Analysis course aims to familiarize students with
conceptual foundations of modern portfolio theory and portfolio management strategies;
its application to securities analysis, valuation and portfolio management. It focuses on
applying pricing models and other techniques in the valuation of securities; measuring the
portfolio risk and determining portfolio performance; constructing optimal portfolios; and
taking applied perspective on investment management for individual and institutional
investors. The learning experience will include: an introduction to modern portfolio
theory, passive and active portfolio management strategies, pricing models of financial
instruments such as stocks; evaluation of portfolio risk and return compared to the
benchmarks; Capital Asset Pricing Model (CAPM) and other issues in finance.

3.2 Student Learning Outcomes

On the successful completion of the course, students are expected to be able to:
 Understand the role and importance of the risk/return relationship to the asset
allocation decision.
 Understand and explain the relevance of the efficient market hypothesis.
 Explain the capital asset pricing and arbitrage pricing models.
 Understand and use the differing methods to price various instruments in the asset
selection process.
 Explain the portfolio management strategies for different asset classes.
 Understand how to evaluate portfolio performance.

In generic terms, students completing this course are likely to enable to:
 develop a set of academic skills which include the ability to work independently
as well to cooperate with peers, to utilize library resources (e.g. text books,
academic journals etc) and to search the web in conducting assignments;
 develop critical thinking and problem-solving skills; and
 develop excellent oral and written communication skills and to be able to work
independently and to lead / participate in groups.

3.3 Teaching Strategies

The learning system in this course consists of lectures and tutors for solving end-of-
chapter problems. Lectures elaborate the appropriate theoretical content in the textbook
and readings. Classes provide a more detailed and refined analysis of both concepts and
applied materials. In order to take full advantages of lectures and class activities, students
are expected to read the textbook(s)/reading materials prior to attendance in the classes.
4. STUDENT RESPONSIBILITIES AND CONDUCT

4.1 Workload

It is expected that the students will spend at least six hours per week studying this course.
This time should be made up of reading, research, working on exercises and problems,
and attending classes. In periods where they need to complete assignments or prepare for
examinations, the workload may be greater.

Over-commitment has been a cause of failure for many students. They should take the
required workload into account when planning how to balance study with part-time jobs
and other activities.

4.2 Attendance

Regular and punctual attendance at lectures and seminars is expected in this course.
University regulations indicate that if students attend less than eighty per cent of
scheduled classes they may be refused final assessment. Exemptions may only be made
on medical grounds.

4.3 General Conduct and Behavior

The students are expected to conduct themselves with consideration and respect for the
needs of the fellow students and teaching staff. Conduct which unduly disrupts or
interferes with a class, such as ringing or talking on mobile phones, is not acceptable and
students will be asked to leave the class. More information on student conduct is
available at the university webpage.

4.4 Keeping informed

The students should take note of all announcements made in lectures or on the course’s
Blackboard. From time to time, the university will send important announcements to their
university e-mail addresses without providing a paper copy. The students will be deemed
to have received this information.

5. LEARNING ASSESSMENT

5.1 Formal Requirements

In order to pass this course, the students must:
 achieve a composite mark of at least 50; and
 make a satisfactory attempt at all assessment tasks (see below).
5.2 Assessment Details

Mid-Term Exam 20%

Written Assignment/presentations 50%
Final Exam 30%
Total 100%

5.3 Project Report (Written Assignment)

This assignment is designed for a group of up to three students. The assignment requires
students to read ahead of the unit program and gather secondary information. It is
therefore strongly recommended that a start on the assignment be made as early as
possible. Management of group meetings, cooperation, harmony, punctuality and
reporting is entirely the responsibility of the group and the individuals within it.

Suggested word limit

The submission is to be typed and should not exceed 5,000 words. The submission should
also show a word count. The text should be double-spaced, font size 12, with normal
margins. You are required to have run a grammar and spelling-checking program through
the document before it is submitted. If you do not comply with these basics you will
receive penalized marks. The case study will be provided in the first lecture.

Due Date: The project report is due at 4 p.m. on the last teaching day of the course.

 Late work will be penalized at the rate of 20 percentage points per week day.
 Students must keep copies of all work submitted.
5.4 Marking criteria (project report and case presentation)

Marking Criteria Marks Learning outcomes/attributes

Depth and quality of research
Depth and quality of analysis
Demonstrated understanding
of the principles and
application of asset
allocation
Demonstrated understanding
of evaluating the portfolio
performance
Business report format
20 Ability to conduct qualified and substantial
research supporting arguments
25 Ability to analyze reasonably and to solve
problems
30 Ability to apply theoretical knowledge to
construct the portfolio
15 Ability to apply theoretical knowledge to
evaluate the portfolio performance
10 Accurate spelling, correct grammar and
punctuation and proper footnoting should be
used; all references should be cited in a
bibliography. You should also include a
 letter of transmittal, an executive summary
and a contents page.

5.5 Class participation

A minimum attendance of 80 percent is compulsory.

5.6 Special Consideration

General policy and information on special consideration can be found at the Office of
Academic Affairs.

6. ACADEMIC HONESTY AND PLAGIARISM

Plagiarism is the presentation of the thoughts or work of another as one’s own (definition
proposed by the University of Newcastle). Students are also reminded that careful time
management is an important part of study and one of the identified causes of plagiarism
is poor time management. Students should allow sufficient time for research, drafting,
and the proper referencing of sources in preparing all assessment items. The university
regards plagiarism as a form of academic misconduct, and has very strict rules regarding
plagiarism.2
7. STUDENT RESOURCES

7.1 Course Resources

Please note that it is very important to gain familiarity with the subject matter in the
readings prior to attendance in classes.

Textbook:
Relley, F. K. and Brown, K. C. (2012), Analysis of Investment and Management of
Portfolio, 10th edition, Thomson South-Western. (RB)

Reference Books:
Bodie, Z., Kane, A., and Marcus, A.J. (2012), Investments, 10th edition, McGraw
Hill. (BKM)

Additional materials provided in Blackboard

The lecturer will attempt to make lecture notes and additional reading available on
Blackboard. However this is not an automatic entitlement for students doing this subject.
Note that this is not a distance learning course, and you are expected to attend lectures
and take notes. This way, you will get the additional benefit of class interaction and
demonstration.

Recommended Internet sites

www.bloomberg.com
2
This is adapted with kind permission from the University of New South Wales.
 www.ft.com (Financial Times)
www.finance.yahoo.com

Recommended Journals
Journal of Finance
Journal of Financial and Quantitative Analysis
Journal of Financial Economics
Harvard Business Review

7.2 Other Resources, Support and Information

Additional learning assistance is available for students in this course and will be made
available in Blackboard. Academic journal articles are available through connections via
the VNU - Central Library. Recommended articles will be duly informed to the students.

8. COURSE SCHEDULE
Week Topics Textbook Note
(Day)

W1 Lecture 1 RB, Chapter 1

Investment Setting and Measuring
Investment Return and Risk

W2 Lecture 2 RB, Chapter 2&5 Submit group for

2A – Asset Allocation and a Review of assignment
Portfolio Management Process
2B – Security Market Indicator Series
W3 Lecture 3 RB, Chapter 7,
Introduction to Portfolio Theory

W4 Workshop: Introduction to Solver in Each group

conducting optimal portfolio brings laptop to
the class
W5 Lecture 4 RB, Chapter 8
Asset Pricing Models: Capital Asset
Pricing Model (CAPM)
W6 Workshop: drawing efficient frontier and Each group
 CML brings laptop to
the class
W7 Lecture 6 RB, chapter 13
Industry analysis
W8 Lecture 5 RB, Chapter 11
Security Analysis and Stock Valuation (compulsory),
Models 12,13&14(optional)
Mid-term exam
W9 Lecture 7 RB, Chapter 16
Stock Portfolio Management Strategies
W10 Lecture 8 RB, Chapter 6
Capital Market Efficiency
W11 Lecture 9 RB, Chapter 25
Portfolio Performance Evaluation
W12 Lecture 10 RB, Chapter
Fundamental vs. Technical Analysis 12,13,14 (review)
&15,
W13 Practical issues of investment in Vietnam

W14 Review

W15 Presentation
1
The syllabus is prepared following the format provided by the School of Organization and Management, University of
New South Wales, with kind permission.