Description
This is a case study with 3 questions. excel will need to be used so please do show working out. Use the guidance on cw file to know how to set up the format of the cw. I have also attached a students previous work. this is not related to the case study but please do somewhat copy their format/presentation.
Unformatted Attachment Preview
Overview
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Weighting: 25% of the total module mark
Submission deadline: 13:00 UK Time on 20 November 2023 (Monday)
Submission method: via the module blackboard site
• Log on to Blackboard at http://learning.westminster.ac.uk
• Go to the module Blackboard site;
• Click on the ‘Assessments’ link in the centre of the module page, as
advised by the module teaching team;
• Click on the link for the relevant assignment;
• Follow the instructions.
• You will be given details by the module teaching team about how and when
you will receive your marks and feedback on your work.
YOU MUST NOT include your student ID (anonymous marking, do not write
your name) on the first page of your assignment.
For late submission:
• If you submit your coursework late but within 24 hours or one working day of
the specified deadline, 10% of the overall marks available for that element of
assessment will be deducted, as a penalty for late submission, except for
work which is marked in the range 40 – 49%, in which case the mark will be
capped at the pass mark (40%).
• If you submit your coursework more than 24 hours or more than one working
day after the specified deadline you will be given a mark of zero for the work
in question.
• The University’s mitigating circumstances procedures relating to the nonsubmission or late submission of coursework apply to all coursework.
About the assessment
•
•
•
•
•
•
The assessment is a case study analysis. Answer all questions in this
coursework in report format and based on the information given in the case.
The length of the case study is 1000 words (+/- 10%) excluding cover page,
table of contents, abstract, references and appendices. If you wish to
provide the workings of any calculations for your quantitative analyses,
provide the workings in the Appendices.
The assignment should be produced in PDF file.
You should go through recorded video for preparing the assessment and can
ask for feedback before final submission.
All other quantitative analysis should show a clear set of assumptions if
necessary and a complete audit trail. Show your workings for any
calculations.
Please use Cite Them Right Harvard system if necessary.
Page 2 of 6
Case study
You are working in a wealth management firm, and you are required to provide the best
investment for your client, Robert and Maggie, both aged 65 with no children and just retired
after working in an advertising company as senior management. They are living in a
mortgage-free apartment with a current market value of £1,500,000 in Battersea Power
Station. In addition, they have a taxable investment portfolio with a current market value of
£2,000,000, investing in global money market fund with the latest annual return of 6% and
standard deviation of 8%. They would like to make use of the portfolio returns to pay for
ordinary expenses (£10,000 per month for present value) of during the retirement life.
Robert and Maggie plans to purchase a vacation home in Spain worth approximately
£300,000 in the next year. Besides, they intend to donate £1,000 per month (inflationadjusted) to the Church until they die. Moreover, they would like to donate all their wealth
to local football club after they die. They are subject to the 20% tax bracket for all kinds of
incomes and gains. Inflation rate is assumed stable at 3% in the foreseeable future.
Although they are comfortable to the recent portfolio return in global money market fund,
the market interest rate will be peaked very soon, and they worry the global money market
fund cannot support their spending requirements later.
Page 3 of 6
Requirements:
1. Describe and explain the risk objectives of Robert and Maggie.
(20 marks)
2. Describe and explain investment goals, liquidity constraint and time constraint of Robert
and Maggie.
(20 marks)
3. Create a portfolio for Robert and Maggie after considering the following requirements
as well:
• All calculations are based on the weekly returns over the period July 2020 to June
2023.
• The annual standard deviation should be 15% or below.
• The portfolio should be comprised of 3-5 securities (Equities/funds/ETFs).
• Weightings of a single stock (but not funds/ETFs) should be capped at 10%.
a) Explain the inclusion of each security in the portfolio AND the corresponding
weightings.
(20 marks)
b) Prepare quantitative analysis on the suggested portfolio (including but not limit to
returns and standard deviations of each security and the portfolio respectively, as
well as correlation matrix) and present in a professional format. Explain how the
portfolio can meet their investment goals.
(20 marks)
4. Marks will be given for presentation skill, analytical skills, referencing, word limit
and similarity index.
(20 marks)
Page 4 of 6
Marking Rubric
Grade
Distinction
(80-100%)
Distinction
(70-79%)
Merit
(60-69%)
Pass
(50-59%)
Description
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Marginally Pass
(40-49%)
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•
•
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•
Professional knowledge and understanding on relevant concepts
Widely use of academic references in appropriate areas
Well-organized with clear line of reasoning
Information in the case study is critically analysed
Potential for publication or effective professional use
Free from grammatical, referencing and computation errors as well
as spelling mistakes
Very high degree of originality with similarity index less than 5%
Excellent knowledge and understanding on relevant concepts
Widely use of academic references
Well-organized with clear line of reasoning
Information in the case study is reasonably analysed
Almost free from grammatical, referencing and computation errors as
well as spelling mistakes
High degree of originality with similarity index less than 10%
Good understanding and discussions on relevant concepts
Use of academic references is demonstrated
Logical explanations are demonstrated
Information in the case study is applied for analysis in a large extent
Some grammatical, referencing and computation errors as well as
spelling mistakes are found.
High degree of originality with similarity index less than 20%
Basic understanding and discussions on key relevant concepts
Use of references is demonstrated
Satisfactory presentation skills
Information in the case study is applied for analysis in certain extent
A number of grammatical, referencing and computation errors as
well as spelling mistakes are found.
Demonstrate some originality of work with similarity index less than
30%
Basic understanding and discussions on some relevant concepts
Use of references is barely demonstrated
Some clumsy expression is found
Attempt to apply the information in the case for analysis
Many grammatical, referencing and computation errors as well as
spelling mistakes are found.
Demonstrate some originality of work with similarity index less than
40%
Page 5 of 6
Fail (0-39%)
• Fail to demonstrate understanding and discussions on relevant
concepts
• Use of references is absent
• A lot of computation without workings
• Explanations are not logical with piecemeal arguments
• Fail to apply the information in the case for analysis
• A lot of grammatical and referencing errors as well as spelling
mistakes are found.
• Similarity index is 40% or above.
Page 6 of 6
Investments and Portfolio
Management
Individual Assessment
Importance
• Weighting: 25% of the total module mark
• Submission deadline: 13:00 UK Time on 20 November 2023 (Monday)
• YOU MUST NOT include your student ID (anonymous marking, do not write
your name) on the first page of your assignment.
About the Assessment
•
•
•
•
•
•
The assessment is a case study analysis. Answer all questions in this coursework
in report format and based on the information given in the case.
The length of the case study is 1000 words (+/- 10%) excluding cover page, table
of contents, abstract, references and appendices. If you wish to provide the
workings of any calculations for your quantitative analyses, provide the workings
in the Appendices.
The assignment should be produced in PDF file.
You should go through recorded video for preparing the assessment and ask for
feedback before final submission.
All other quantitative analysis should show a clear set of assumptions if necessary
and a complete audit trail. Show your workings for any calculations.
Please use Cite Them Right referencing system if necessary.
Case study
• You are working in a wealth management firm, and you are required to
provide the best investment for your client, Robert and Maggie, both
aged 65 with no children and just retired after working in an
advertising company as senior management. They are living in a
mortgage-free apartment with a current market value of £1,500,000 in
Battersea Power Station. In addition, they have a taxable investment
portfolio with a current market value of £2,000,000, investing in
global money market fund with the latest annual return of 6% and
standard deviation of 8%. They would like to make use of the portfolio
returns to pay for ordinary expenses (£10,000 per month for present
value) of during the retirement life.
Case study
• Robert and Maggie plans to purchase a vacation home in Spain worth
approximately £300,000 in the next year. Besides, they intend to
donate £1,000 per month (inflation- adjusted) to the Church until they
die. Moreover, they would like to donate all their wealth to local
football club after they die. They are subject to the 20% tax bracket for
all kinds of incomes and gains. Inflation rate is assumed stable at 3%
in the foreseeable future.
• Although they are comfortable to the recent portfolio return in global
money market fund, the market interest rate will be peaked very soon,
and they worry the global money market fund cannot support their
spending requirements later.
Requirements
1. Describe and explain the risk objectives of Robert and Maggie. (20 marks)
• Identify and explain the key factors that affecting their ability (e.g. age, wealth,
nature of investment objectives) and willingness (e.g. character, past investment
history) to take risk
• Identify and explain factors one by one, and then make conclusions on both ability and
willingness to take risk
• General discussions without application in the case will be penalized
• Make judgment on the overall risk tolerance level: Above average, Average or
below Average
• Suggested word count: around 200 words
Requirements
2. Describe and explain investment goals, liquidity constraint and time constraint of
Robert and Maggie. (20 marks)
• Please consider their background and situations
• Investment goals:
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Any possible goals can be made with reasonable justifications
Limit the total no. of goals to THREE
Short term goal(s)? Long term goal(s)?
•
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Single period? Multiple period?
Short term? Long term?
•
Base on the investment goals and financial situation of Robert and Maggie
• Time Constraint:
• Liquidity constraint:
•
Suggested word count: around 250 words
Requirements
Question 1 & 2:
• Please refer to Lecture 1 materials (including Q1 of Seminar Exercise
1)
• Make sure the investment goals, risk objectives, time constraint and
liquidity constraint are consistent with one another
Requirements
3. Create a portfolio for Robert and Maggie after considering the following
requirements as well:
• All calculations are based on the weekly returns over the period July 2020 to June
2023.
• The annual standard deviation should be 15% or below.
• The portfolio should be comprised of 3-5 securities (Equities/funds/ETFs).
• Weightings of a single stock (but not funds/ETFs) should be capped at 10%.
a) Explain the inclusion of each security in the portfolio AND the corresponding
weightings.
(20 marks)
Requirements
• Make sure the choice are consistent with the analysis in Q1 and Q2
• Explore mutual funds/ETFs by using Morningstar UK
• Explore stock by using by stock price platform (e.g. Yahoo! Finance)
• Please identify the specific fund to be included in the portfolio (e.g. JP Morgan
Growth Fund)
• When explaining the corresponding weightings of different securities in the
portfolio:
• Exact percentages should be assigned.
• You should explain why each securities represents significant/major/small proportion
in the portfolio, i.e. relative weightings instead of absolute weightings
• Please refer to Q1 of Seminar Exercise 1 and Lecture 2 materials
• Suggested word count: around 400 words
Requirements
b) Prepare quantitative analysis on the suggested portfolio (including but not limit to returns
and standard deviations of each security and the portfolio respectively, as well as correlation
matrix) and present in a professional format. Explain how the portfolio can meet their
investment goals.
(20 marks)
• Download the data in Yahoo Finance! or website of the fund companies
• Make sure weekly data is used for analysis
• Show key data in table format in the report
• Present calculation steps on portfolio return and standard deviation
• All raw data can be shown in appendix (Please copy the data from Excel to Word in a professional
way)
• Explain briefly how the portfolio fulfill the requirements set in Question 3
• You are required to explain why the portfolio return can achieve the investment goals set
• Reasonable assumptions can be made
• Please refer to Lecture 3 materials, including Excel exercise in Seminar 3
• Suggested word count: around 150 words
Requirements
Assets
Weighting in the
Portfolio
Annual Return
Annual
Standard deviation
A
B
C
D
Total (Portfolio)
Correlation
Matrix
Asset A
Asset B
Asset C
Asset D
Asset A
Asset B
Asset C
Asset D
Requirements
Covariance
Matrix
Asset A
Asset B
Asset C
Asset D
Asset A
Asset B
Asset C
Asset D
Requirements
4. Marks will be given for presentation skill, analytical skills, referencing, word
limit and similarity index.
(20 marks)
• Present your reasons in a logical and professional way
• Information in the case study is critically analysed
• Use Cite Them Right Harvard referencing
• Write your report within word limit
• Pay attention to the similarity index
JC
JC
1
2
JC
3
JC
JC
5
4
JC
JC
7
JC
8
6
JC
9
Overview
•
•
•
•
•
Weighting: 25% of the total module mark
Submission deadline: 13:00 UK Time on 20 November 2023 (Monday)
Submission method: via the module blackboard site
• Log on to Blackboard at http://learning.westminster.ac.uk
• Go to the module Blackboard site;
• Click on the ‘Assessments’ link in the centre of the module page, as
advised by the module teaching team;
• Click on the link for the relevant assignment;
• Follow the instructions.
• You will be given details by the module teaching team about how and when
you will receive your marks and feedback on your work.
YOU MUST NOT include your student ID (anonymous marking, do not write
your name) on the first page of your assignment.
For late submission:
• If you submit your coursework late but within 24 hours or one working day of
the specified deadline, 10% of the overall marks available for that element of
assessment will be deducted, as a penalty for late submission, except for
work which is marked in the range 40 – 49%, in which case the mark will be
capped at the pass mark (40%).
• If you submit your coursework more than 24 hours or more than one working
day after the specified deadline you will be given a mark of zero for the work
in question.
• The University’s mitigating circumstances procedures relating to the nonsubmission or late submission of coursework apply to all coursework.
About the assessment
•
•
•
•
•
•
The assessment is a case study analysis. Answer all questions in this
coursework in report format and based on the information given in the case.
The length of the case study is 1000 words (+/- 10%) excluding cover page,
table of contents, abstract, references and appendices. If you wish to
provide the workings of any calculations for your quantitative analyses,
provide the workings in the Appendices.
The assignment should be produced in PDF file.
You should go through recorded video for preparing the assessment and can
ask for feedback before final submission.
All other quantitative analysis should show a clear set of assumptions if
necessary and a complete audit trail. Show your workings for any
calculations.
Please use Cite Them Right Harvard system if necessary.
Page 2 of 6
Case study
You are working in a wealth management firm, and you are required to provide the best
investment for your client, Robert and Maggie, both aged 65 with no children and just retired
after working in an advertising company as senior management. They are living in a
mortgage-free apartment with a current market value of £1,500,000 in Battersea Power
Station. In addition, they have a taxable investment portfolio with a current market value of
£2,000,000, investing in global money market fund with the latest annual return of 6% and
standard deviation of 8%. They would like to make use of the portfolio returns to pay for
ordinary expenses (£10,000 per month for present value) of during the retirement life.
Robert and Maggie plans to purchase a vacation home in Spain worth approximately
£300,000 in the next year. Besides, they intend to donate £1,000 per month (inflationadjusted) to the Church until they die. Moreover, they would like to donate all their wealth
to local football club after they die. They are subject to the 20% tax bracket for all kinds of
incomes and gains. Inflation rate is assumed stable at 3% in the foreseeable future.
Although they are comfortable to the recent portfolio return in global money market fund,
the market interest rate will be peaked very soon, and they worry the global money market
fund cannot support their spending requirements later.
Page 3 of 6
Requirements:
1. Describe and explain the risk objectives of Robert and Maggie.
(20 marks)
2. Describe and explain investment goals, liquidity constraint and time constraint of Robert
and Maggie.
(20 marks)
3. Create a portfolio for Robert and Maggie after considering the following requirements
as well:
• All calculations are based on the weekly returns over the period July 2020 to June
2023.
• The annual standard deviation should be 15% or below.
• The portfolio should be comprised of 3-5 securities (Equities/funds/ETFs).
• Weightings of a single stock (but not funds/ETFs) should be capped at 10%.
a) Explain the inclusion of each security in the portfolio AND the corresponding
weightings.
(20 marks)
b) Prepare quantitative analysis on the suggested portfolio (including but not limit to
returns and standard deviations of each security and the portfolio respectively, as
well as correlation matrix) and present in a professional format. Explain how the
portfolio can meet their investment goals.
(20 marks)
4. Marks will be given for presentation skill, analytical skills, referencing, word limit
and similarity index.
(20 marks)
Page 4 of 6
Marking Rubric
Grade
Distinction
(80-100%)
Distinction
(70-79%)
Merit
(60-69%)
Pass
(50-59%)
Description
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Marginally Pass
(40-49%)
•
•
•
•
•
•
Professional knowledge and understanding on relevant concepts
Widely use of academic references in appropriate areas
Well-organized with clear line of reasoning
Information in the case study is critically analysed
Potential for publication or effective professional use
Free from grammatical, referencing and computation errors as well
as spelling mistakes
Very high degree of originality with similarity index less than 5%
Excellent knowledge and understanding on relevant concepts
Widely use of academic references
Well-organized with clear line of reasoning
Information in the case study is reasonably analysed
Almost free from grammatical, referencing and computation errors as
well as spelling mistakes
High degree of originality with similarity index less than 10%
Good understanding and discussions on relevant concepts
Use of academic references is demonstrated
Logical explanations are demonstrated
Information in the case study is applied for analysis in a large extent
Some grammatical, referencing and computation errors as well as
spelling mistakes are found.
High degree of originality with similarity index less than 20%
Basic understanding and discussions on key relevant concepts
Use of references is demonstrated
Satisfactory presentation skills
Information in the case study is applied for analysis in certain extent
A number of grammatical, referencing and computation errors as
well as spelling mistakes are found.
Demonstrate some originality of work with similarity index less than
30%
Basic understanding and discussions on some relevant concepts
Use of references is barely demonstrated
Some clumsy expression is found
Attempt to apply the information in the case for analysis
Many grammatical, referencing and computation errors as well as
spelling mistakes are found.
Demonstrate some originality of work with similarity index less than
40%
Page 5 of 6
Fail (0-39%)
• Fail to demonstrate understanding and discussions on relevant
concepts
• Use of references is absent
• A lot of computation without workings
• Explanations are not logical with piecemeal arguments
• Fail to apply the information in the case for analysis
• A lot of grammatical and referencing errors as well as spelling
mistakes are found.
• Similarity index is 40% or above.
Page 6 of 6
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