The students will first get an overview about the history of the Portfolio Management Program (PMP) in Vienna as well as academic insights based on the PMP. Next, the instructor will differentiate between different kinds of asset owners and explain the principles of mean-variance-investing.

Following, the course will focus on the main idea behind factor models and continue with a broad overview of different kinds of relevant factors in the academic and practitioner literature.

Next, the instructor will give an outline about the most important investment vehicles, i.e. equities, bonds, mutual funds, hedge funds and private equity, and explain in detail their different specific properties. The discussion will also address questions on performance assessment and style analysis of funds.  A special module on active v. passive investing will be offered.  

The last part of the lecture will focus on agency and behavioral aspects and aspects on socially responsible investing.

After completing this class the student will have acquired the following:

• Knowledge about different kinds of asset owners
• An understanding of the interplay between risk and return of an asset
• An understanding of the concept of factor models and the most relevant factors
• Insights into different asset classes and their most important properties
• Awareness about agency problems and specific behavioral aspects
• How to use data collection from the Bloomberg terminal for real world portfolio analyses

The course consists of a mix of three components:

1. Regular lectures held over the internet and conducted by the instructor using Skype for Business.  This will create a solid and broad knowledge in topics of portfolio management.  Students can participate fully using the app on Windows 10, Macs, IOS, or Android phones, or through a web browser.  Real time video streaming and Q&A through chat is offered.  All lectures will be recorded and available on demand.  
2. Hands-on calculation and data analysis assignments based on topics covered in the lectures. These will help to deepen the understanding of learned concepts.
3. A final presentation on an applied assignment related to portfolio management.

The assessment of the participants will be based on their performance associated with exercises relating the lectures to practical applications - many using the Bloomberg terminal with current data.  The main part of the grade will be the delivery of the final presentation which will be done in person.