RE3IVP-Investment and Finance Projects

Module Provider: Real Estate and Planning
Number of credits: 30 [15 ECTS credits]
Level:6
Terms in which taught: Autumn / Spring term module
Pre-requisites:
Non-modular pre-requisites: Real estate economics, investment appraisal, return modelling
Co-requisites: RE3ISM Investment Strategy and Management and RE3FM Finance and Markets and RE3SQT Statistics and Quantitative Techniques
Modules excluded:
Current from: 2022/3

Module Convenor: Mr Pin-Te Lin
Email: pin-te.lin@henley.reading.ac.uk

Type of module:

Summary module description:

ThisÌýmodule aims to provide an application of the various concepts learned in RE3ISM and RE3FM to real-world investment decisions. Since the nature of each topic will vary with changing market conditions and the importance of various topics, it is not possible to specify in advance the subject of each project. In broad terms, the projects will consider theoretical and practical issues surrounding asset allocation, portfolio management, asset pricing and real estate investment vehicles.

This module is delivered at the °ÄÃÅÁùºÏ²Ê¿ª½±¼Ç¼ only.

Aims:

The investment and finance projects allow and encourage students to develop a depth of understanding and analytical skills by researching, modelling, presenting and reporting on a series of independent or linked research topics.

The projects also aim to:

• improve statistical computing and quantitative analysis skills;Ìý


• enhance understanding of the forecasting process;


• develop understanding of company and investment analysis;Ìý


• improve data analysis skills;Ìý


• improve report writing skills.

Assessable learning outcomes:

Upon completion of both projects, students will have demonstrated their ability to:

• discuss and critically appraise relevant literature, both academic and professional;Ìý


• identify theoretical concepts in the fields of investment and finance and apply those concepts to practical real estate problems;Ìý


• critically assess the viability of those concepts;Ìý


• apply analytical techniques (both qualitative and quantitative) to data, interpret the results and integrate the findings with theoretical concepts;Ìý


• produce concise, analytical, well-argued and well-presented research reports.

Additional outcomes:

The module will support further development of oral and written presentation skills and the use of IT in the production of papers and reports. The module will enhance knowledge of the current business environment.

Outline content:

The module is structured around two discrete projects, taken sequentially. Students will undertake projects selected to reflect current real estate investment and capital market issues and to integrate themes developed in the specialist modules. The projects include data analysis and formal, written reporting.

As examples, project topics might include:

• discussions of the optimal way to structure a mixed asset portfolio containing commercial property;ÌýÌý


• assessment of the management of an active portfolio; a critical analysis of investment styles and strategies;ÌýÌý


• an exploration of the investment characteristics and performance of property as an asset class;ÌýÌý


• an evaluation of the pricing of a listed real estate company;ÌýÌý


• an investigation of the relationship between indirect property investments (such as property companies) and directly-owned real estate.

Global context:

Projects may incorporate international situations and examples.

Brief description of teaching and learning methods:

The bulk of student effort comes through private, independent study. For each project, there will be a project briefing and one or more workshops throughout the term where students may undertake exercises or bring questions and problems for discussion. The emphasis is very much on individual learning and independent work.

Contact hours:

Ìý	Autumn	Spring	Summer
Lectures	2	2
Project Supervision	6	6
Guided independent study:	Ìý	Ìý	Ìý
Ìý Ìý Wider reading (independent)	40	40
Ìý Ìý Advance preparation for classes	2	2
Ìý Ìý Preparation of practical report	40	40
Ìý Ìý Essay preparation	60	60
Ìý	Ìý	Ìý	Ìý
Total hours by term	150	150	0
Ìý	Ìý	Ìý	Ìý
Total hours for module	300

Summative Assessment Methods:

Method	Percentage
Written assignment including essay	100

Summative assessment- Examinations:
None

Summative assessment- Coursework and in-class tests:

Two project reports of around 3,750 words (or equivalent output) each. Each project carries 50% weight in terms of the total module assessment.

• Project 1 hand-in: week 2Ìý(second week of Spring term) - (timetable week 21)


• Project 2 hand-in: week 11Ìý(last week of Spring term) - (timetable week 30)

Formative assessment methods:

Three supervision sessions for each project to check the students’ progress and provide them with feedback.

Penalties for late submission:

The Support Centres will apply the following penalties for work submitted late:

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;
• where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

The University policy statement on penalties for late submission can be found at: /cqsd/-/media/project/functions/cqsd/documents/cqsd-old-site-documents/penaltiesforlatesubmission.pdf
You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Assessment requirements for a pass:

A mark of at least 40% overall.

Reassessment arrangements:

Reassessment will be by the same method as for the module’s original assessment requirements, subject to variation by the Examination Board where appropriate.

Additional Costs (specified where applicable):

Last updated: 24 November 2022