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Where does this programme fit in?

The 3-year BCom (Management Sciences) with the focal area Inve?stment Management is offered by the Department of Business Management at the Faculty of Economic and Management Sciences. Year 1 consists of compulsory modules such as Business Management, Economics, Financial Accounting, Professional Communication, and Statistics and Data Science. Year 2 and Year 3 cover modules specific to this focal area.

Why the need for this programme?

Investment managers, also known as fund managers and asset managers, invest their clients’ money so that their clients’ wealth can grow over time. Investment managers play a key role in investment funds, pension funds and other investment ecosystems. Investment management firms create investment portfolios for their clients and open up new investment opportunities that would otherwise not have been available. Selecting the best investments, therefore, calls for specialist knowledge of asset classes, risks and returns, and time horizons.

If you are drawn to a career in investments, this BCom degree will also prepare you for the Level 1 examination of the international Chartered Financial Analyst? (CFA?) qualification. This is a sought-after qualification in the investment management profession. Stellenbosch 肆客足球 is part of the CFA Institute 肆客足球 Affiliation Program and incorporates the CFA Program Candidate Body of Knowledge (CBOK) within the program. If you successfully complete the BCom focused on investment management, you may be considered for honours studies, where the learning outcomes for the Level 2 and 3 CFA examinations are covered. Find information on the CFA programme at www.cfainstitute.org.

 

What will you learn?

The modules in this focal area are listed below:

• YEAR 1
• 
  
  • Business Management 142(6) (The Investment Decision 142)
    

    The investment cycle; the role and functioning of the JSE Securities Exchange SA; investment risks; factors that influence share prices; fundamental and technical analysis of companies.

  • Business Management 113(12)
  • Economics 114(12); 144(12)
  • Financial Accounting 188(24)
    
  • Professional Communication for EMS 144(6)
  • Statistics and Data Science 188(18)
  • Theory of Interest 152(6)
  
  

  • Recommended electives (24 credits from the following):

  • Industrial Psychology 114(12); 144(12)
  • Introduction to Transport and Logistics Systems 144(12)
  • Political Science 114(12); 144(12)
  • Philosophy (114(12); 144(12)
  • Public and Development Management 114(12); 144(12)
  • Sociology 114(12); 114(12)

• YEAR 2
• 
  
  • Investment Management 254 (Introduction to Investment Theory 254)
    

    Portfolio theory and portfolio management; the relationship between risk and return; the efficient market hypothesis; valuation and risk of fixed income securities; evaluation of share investments; properties of derivative instruments; derivative strategies; valuation of options and futures; measurement and evaluation of portfolio returns.

  • Economics 214(16); 244(16)
  • Financial Accounting 288(32)
  • Financial Management 214(16)
  • Statistics 214(16); 244(16)

• YEAR 3


• • Investment Management 314(12) (Equity Analysis and Portfolio Management 314)

    Theory of valuation; valuation models and techniques; practical implementation of valuation models; valuation variables; stock market analysis; industry analysis; company analysis and stock selection; technical analysis; equity portfolio management strategies.

  • Investment Management 324(12) (Fixed Income Securities 324)

    Trading of fixed income securities; price sensitivity; fixed income securities in structured portfolios; indexing; liability funding; credit risk in corporate bonds; credit risk in international sovereign bonds; embedded options in bonds; securitisation; mortgage pre-payment; active portfolio management; economic analysis and management of bond portfolios.

  • Investment Management 344(12) (Derived Financial Instruments and Alternative Investments 344)

    Exposure to and handling of financial risk; the risk management process, the hedging concept; the functions of the treasury and the management of negotiable value; characteristics of derived financial instruments; strategies for the use of derived financial instruments; valuation of options and futures contracts; basic arbitrage strategies with options and futures contracts; swaps and forward rate agreements; alternative investments.

  • Investment Management 348(12) (Real Estate Investment and Financing 348)

    Introduction to the nature and scope of real estate; real estate markets and trends; legal aspects; financial and investment analysis in respect of the acquisition, ownership and sale of real estate; the role and impact of capital gains tax; market valuation approaches; types of real estate investment and financing instruments in the real estate market.

  • Investment Management 354(12) (Portfolio Management 354)

    This module focuses on two themes. The first part comprises an understanding and application of the Ethical Code and Standards of Professional Conduct of the CFA Institute, a discussion of marker efficiency, and the effect of behavioural finance in investment decisions and investment practice. The second part’s focus is on the practical considerations of portfolio management (asset allocation, investment in less conventional asset classes such as emerging markets and alternative investments, and the evaluation of portfolio performance) and in the South African portfolio management environment (product offering, asset classes, risk-and-return dynamics).

  
  

  • Recommended electives (60 credits from the following; 60 must come from one subject):

  • Economics 318(24); 348(24)
  • Financial Management 314(12); 332(12); 352(12); 354(12)
  • Financial Planning 314(24); 344(24)
  • Statistics 318(24); 348(24)

Who should apply?

• Those interested in a career as an investment manager, investment analyst, stockbroker, portfolio manager or asset manager at an investment management firm, major corporation, trust, or foundation.

Admission requirements

• National Senior Certificate average of 65%
• Mathematics 60% minimum
• EMS language admission requirements (English and Afrikaans Home Language 50% OR English and Afrikaans Additional Language 60%)

More details

• Programme brochure: The brochure contains a table with all the modules covered by this degree. Download the department’s brochure here.
• Programme information: See the Department of Business Management’s undergraduate programmes here.
• See the Calendar of the Faculty of Economic and Management Sciences at https://www.sun.ac.za/english/faculty/economy/students.
• Closing date for applications: 30 June 2022
• Contact person for enquiries about this programme: Morné Daniels on +27 (0)21 808 2392 or at mmd@sun.ac.za
• Where to apply: https://student.sun.ac.za/signup/

Chartered Financial Analyst? (CFA?) is a registered trademark owned by CFA Institute.