DEPARTMENT OF FINANCE AND INVESTMENT MANAGEMENT B.

COM HONOURS (INVESTMENT MANAGEMENT)

2012

OPPORTUNITIES FOR POST-GRADUATE STUDIES IN THE DEPARTMENT OF FINANCE AND INVESTMENT MANAGEMENT
July 2011

B.COM HONOURS (INVESTMENT MANAGEMENT)

Purpose of the programme
The primary purpose of the B.Com Honours (Investment Management) programme is to strengthen the students knowledge and comprehension in the disciplines of investment management. The programme is comprised of a broad-based curriculum to prepare the post-graduate student for a wide range of investment-related specialities. The curriculum includes eight topic areas ranging from quantitative investment analysis to equity investment to financial engineering to retirement finance. The programme emphasises application, analysis and evaluation within each topic area as well as the application of integrity and ethics in a professional environment.

Rules of access
A student in possession of (a) a B.Com (Finance) or BCom (Investment Management) qualification OR any related qualification with a programme specific minimum NQF level 6 competency with Investment Management as a major subject or (b) any Bachelors degree together with certain bridging modules from the Diploma in Investment Analysis and Portfolio Management as suggested by the Department of Finance and Investment Management. Participation in the CFA Programme may also be taken into consideration when a student does not conform to the requirements set out in (a) and/or (b) may apply to the Department of Finance and Investment Management. Applicants will be subjected to a selection process. A student that has not completed their B.Com (Finance) or related qualification may not register for the B.Com Honours (Investment Management) programme even if they are provisionally accepted based on the selection process.

Closing date for applications

The closing date is 31 August annually for foreign (i.e. non-South African resident) students and 30 September annually for South African resident students for study in the following academic year. All foreign students (i.e. international students) applying should consult with the International Admissions Office at the University of Johannesburg on 011 559 2018 or visit www.uj.ac.za/international.

Curriculum
The B.Com Honours (Investment Management) programme is presented on a full-time basis over one year and on a part-time basis over two years. Students can elect to complete the programme on either a full-time or a part-time basis. All lectures are only presented in the evenings, usually on a Tuesday and Thursday from 17:30 21:00. Students have to pass all eight modules independently to graduate with the B.Com Honours (Investment Management) degree.

Modules: Quantitative Investment Analysis (semester one) Equity Investments (semester one) Forex Exposure Management (semester one) Research Methodology (semester one) Retirement Finance (semester two) Financial Engineering (semester two) Interest Bearing (semester two) Portfolio Management (semester two) Full-time students will complete all eight of the above modules in one year. Part-time students will take the following modules over the two years:

Year one: Quantitative Investment Analysis (semester one) Research Methodology (semester one) Retirement Finance (semester two) Interest Bearing (semester two) Year two: Equity Investments (semester one) Forex Exposure Management (semester one) Financial Engineering (semester two) Portfolio Management (semester two) The table below provides a brief outline of each module*.

Quantitative Investment Analysis (BLB10X7)

Year 1 Full-Time: Semester one Year 1 Part-Time: Semester one 10 Weeks Time value of money Statistical and probability concepts Probability Distributions Correlation and regression analysis Time Series Analysis Excel modelling Research project

Research Methodology (BLB17X7)

Year 1 Full-Time: Semester one Year 1 Part-Time: Semester one 10 Weeks Overview and starting research Methods of primary data collection Principals an characteristics of measurement Sampling procedures, statistics and data analysis Research methodology

Equity Investments (BLB11X7)

Year 1 Full-Time: Semester one Year 2 Part-Time: Semester one 10 Weeks Advanced Macro-Economic Analysis Industry Analysis Advanced Financial Statement Analysis and Interpretation Discounted Valuation Methodology and Application Relative Valuation Methodology and Application Excel modelling Research Project**

Forex Exposure Management (BLB09X7)

Year 1 Full-Time: Semester one Year 2: Part-Time : Semester one 10 Weeks Foreign Exchange Parity Relationships International asset pricing and currency Advanced risk management Research project

Interest Bearing Instruments (BLB15X7)

Year 1 Full-Time: Semester two Year 1 Part-Time: Semester two 10 Weeks Bond and money market securities Term structure of interest rates Fixed-income portfolios and investment strategies Interest rate risk Securitisation Interest rate derivatives Excel modelling Research project

Retirement Finance (BLB12X7)

Year 1 Full-Time: Semester two Year 1 Part-Time: Semester two 10 Weeks Behavioural finance and retirement Retirement fund environment Retirement fund management Asset allocation Retirement fund construction and management Research project

Financial Engineering (BLB13X7)

Year 1 Full-Time: Semester two Year 2 Part-Time: Semester two 10 Weeks Derivatives pricing methodologies Futures markets Option markets swap markets Risk management strategies Case studies evaluation Excel modelling Research project

Portfolio Management (BLB05X7)

Year 1 Full-Time: Semester two Year 2 Part-Time: Semester two 10 Weeks The portfolio management process Fixed-income and equity portfolios Alternative investments Portfolio risk Portfolio monitoring and rebalancing Research project

*Module names and content subject to change. **Type of Research Project may change from year to year

Language medium
Lectures are presented in English. Students may however feel free to participate in the class discussions in either Afrikaans or English. All assessment papers are compiled in English only, but may be answered in either English or Afrikaans. Similarly, tutorials and research papers may be completed in either of the two languages.

Lectures and programme

Lectures will be presented by full-time academics and occasional guest lecturers. Accepted students are expected to attend lectures regularly and an attendance register may be taken at each class. The programme is not suitable for distance learning or correspondence students. Accepted students will be supplied with a detailed programme timetable in February 2012.

Assessment
Students will complete a number of assessments throughout the duration of each module. Assessments may take the form of written assessment opportunities (i.e. tests), as well as class assessments, assignments and/or projects. A last assessment opportunity in the form of an examination will be completed at the end of each module.

Academic regulations
Assessment activities such as written assessments (i.e. tests), class assessments, assignments, and/or projects will constitute the module mark, as outlined above. All students are required to obtain a module mark of at least 40% and above to gain entrance to write the last assessment opportunity. Students that do not obtain a module mark of 40% and above, will not be allowed to write the last assessment opportunity. A sub-minimum of 40% is required in the last assessment opportunity, while a final mark for each module of 50% or above must be achieved to pass a module.

Prescribed material
The prescribed textbook for each module will be communicated to accepted students in February 2012. The prescribed textbook is by no means sufficient to pass each specific module. Various sources of information will have to be combined to pass each module, i.e. formal lectures, class discussions, the Internet (Edulink) and your own research. The use of financial and management magazines including Financial Management (CIMA), Business Week and Fortune have proven to be of great value in the past. Local financial magazines such as Finance Week and Financial Mail offer rich sources of information on issues relating to financial management and should form an essential part of any current or aspiring financial managers toolkit.

Application procedures
As mentioned previously, the closing date for applications is 31 August 2011 for foreign (i.e. non-South African resident) students and 30 September 2011 for South African resident students. The selection process will take place during October and November 2011 and students will be advised of the outcome in early December 2011. All prospective students that wish to apply to study the B.Com Honours (Investment Management) MUST submit the following documents before the above deadlines: The Department of Finance and Investment Managements application form for B.Com Honours (Investment Management) 2012 (completed in full). Students should also rank their choices on the application form; Passport photo (attached to the above application form); Certified copy of identity document (or passport if foreign student); Certified copy of your Grade 12 (matric) certificate; Certified copy of your degree certificate (if you have already completed your undergraduate degree); Certified copy of an official academic record issued by your undergraduate university (if you are currently completing your undergraduate studies, then your most recent academic record) or certificate of conduct (from previous university if not UJ) which should include your academic record. The academic record or certificate of conduct submitted MUST include all courses taken by a prospective student (i.e. not only a list of courses passed). Failure to submit a full list of courses taken may disqualify a prospective student; and A short written motivation as to why you think you should be selected for the B.Com Honours (Investment Management) programme. Prospective students that have not studied at the University of Johannesburg previously should also complete a University of Johannesburg application form and pay the non-refundable 2011 application fee of R280 by cheque or bank deposit. This fee is required to obtain a student number and process your application. Failure to submit all the required documentation or submitting your application late may result in your application not being considered for the B.Com Honours (Investment Management) programme.

Selection process
All prospective students will be subjected to a selection process. The selection process will be split into two rounds. Prospective students that make it through the first round of the selection process will be required to write an entrance exam as part of the second round. The entrance exam will take place during September 2011 (for foreign students) and October / November 2011 (for SA resident students). Students selected to write the entrance exam will be advised of the date and time via the e-mail address provided on their application form.

Registration and fees

Registration details for the 2012 B.Com Honours (Investment Management) programme will be communicated to accepted students in early December 2011. A registration deposit must normally be paid in early January each year. The exact cost of the B.Com Honours (Investment Management) programme will be advised in January 2012. The course fees for the 2012 B.Com Honours (Investment Management) programme are provided below (for information purposes only): Cost Semester modules: Quantitative Investment Analysis Equity Investments Forex Exposure Management Research Methodology Retirement Finance Interest Bearing Financial Engineering Portfolio Management Total R2 940 R2 940 R2 940 R2 940 R2 940 R2 940 R2 940 R2 940

Full time students will register for all of the above modules in 2012, while part-time students will register for the above modules as follows over the two year period: Year one: Quantitative Investment Analysis (semester one) Research Methodology (semester one) Retirement Finance (semester two) Interest Bearing (semester two) Year two: Equity Investments (semester one) Forex Exposure Management (semester one) Financial Engineering (semester two) Portfolio Management (semester two) The above course fees excludes a 2012 non-refundable registration levy of R450 and a 2012 non-refundable ICT levy of R390 per student, as well as residence fees and prescribed textbooks.

Bridging Programme
Candidates that are interested in doing the B.Com Honours (Investment Management) degree but did not complete Investment Management as a major subject may do 5 bridging modules, selected from the curriculum of the Diploma in Investment Analysis and Portfolio Management. The main purpose of the bridging modules is to ensure a smooth transition between a bachelors degree without Investment Management as a major and the Honours in Investment Management. Admission to the bridging modules is no guarantee for admission to the B.Com Honours (Investment Management) programme. Bridging module students will still be subject to a selection process based on their academic performance. The programme is not a qualification in itself and candidates who successfully complete the bridging modules will receive no formal certificate from the University of Johannesburg. The bridging modules will be presented over a one year period running from February until the end of November. Lectures will be presented after hours (once per week) as per the timetable. This amounts to a total of 20 contact sessions of 3 hours each. Eligible candidates must be in possession of an applicable bachelors degree

Enquiries
B.COM HONOURS (INVESTMENT MANAGEMENT) PROGRAMME MANAGER All honours programme queries should be addressed to: Mr Nil Oberholzer Telephone: 011 559 3483 Fax: 011 559 3753 E-mail: nielo@uj.ac.za BRIDGING PROGRAMME IN INVESTMENT MANAGEMENT PROGRAMME MANAGER All bridging programme queries should be addressed to: Mr Nil Oberholzer Telephone: 011 559 3483 Fax: 011 559 3753 nielo@uj.ac.za E-mail: Office: A Ring 508 APPLICATIONS Applications or any administrative queries should be addressed to: Ms Deidre Wessels Telephone: 011 559 3351 Fax: 011 559 3753 E-mail: deidrew@uj.ac.za Office: A Ring 530A FACULTY OFFICER: ECONOMIC AND FINANCIAL SCIENCES Mrs Adele Maritz Telephone: 011 559 2522 E-mail: adelem@uj.ac.za Office: A Ring 216 FINANCIAL ADMINISTRATION Mr Johan Odendaal Telephone: 011 559 3025 E-mail: jodendaal@uj.ac.za Office: E Ring 104

Applications will only be accepted until 31 August 2011 (foreign students) and 30 September 2011(SA resident students)

Send your completed application form (together with the necessary documents) to: University of Johannesburg Student Enrolment Centre PO Box 524 Auckland Park 2006 Or Submit at the Student Enrolment Centre (Auckland Park Kingsway Campus) ---o0o---