Asset management guest lectures

Asset allocation in practice

This lecture looks at Norges Bank Investment Management's investment strategy, how it has changed over time, and why. Students will gain a broad overview of the fund and its investment strategy, the theoretical underpinnings of the investment strategy, and the fund’s role in the Norwegian economy more generally. The lecture will end with a deep dive into a more specialised topic that can be tailored to the particular interests of the class. The lecture suits Bachelor’s and Master’s students studying economics or finance. A rudimentary understanding of asset pricing (e.g. CAPM) is considered useful.

Active portfolio management

This lecture seeks to give broad insights into the reality of how we undertake our role as portfolio managers. Students will gain a broad overview of the asset management industry, as well as an understanding of the role of active management and how portfolio managers approach this in practice. The lecture will look at how portfolio managers organise their duties, develop investment ideas, and construct a portfolio around these ideas. It will also emphasise learnings and challenges, including the psychological or human aspects of the role, the theory vs the reality of investing, and common mistakes across portfolio managers. Students will also have the opportunity to engage with portfolio managers through a Q&A. The lecture suits both Bachelor’s and Master’s students.

Application of data science to investment management

This is a practical session on the use of data and modelling approaches in fund management. Students will get an overview of data science techniques, including supervised and unsupervised learning, and discuss process and design features when developing robust models for data analytics. The lecture will also demonstrate applications of data science and machine-learning techniques in finance, including the pitfalls of machine learning. The lecture suits Bachelor’s and Master’s students in any quantitative discipline.

Trading in equity markets

The aim of this lecture is to provide insight into trading operations at Norges Bank Investment Management. The students will learn about trading in equity markets, and about the dynamics and characteristics of the markets. We will explain how different participants – such as institutional managers, high-frequency traders and retail clients – trade and shape equity markets today. The lecture suits Bachelor’s and Master’s students studying finance, economics, mathematics, statistics, IT and similar subjects. No prior knowledge of the topic is required.

Risk management in practice

This lecture is about how to estimate volatility and tail risk, and how to perform scenario analysis on large real-world portfolios with thousands of securities. The lecture will provide an overview of key modelling choices and their implications. Students will learn about popular risk models and the pros and cons of popular techniques from a practitioner’s perspective. The lecture reviews the field broadly before focusing on a selection of models, giving practical examples throughout. The lecture suits entry-level coursework in econometrics and capital markets, and can be tailored both to beginners and to more advanced audiences.

Derivative markets and asset management

The aim of the lecture is to give students an overview of the use of derivatives in asset management. It will cover topics including option-implied vs empirical return distributions, volatility-based risk premia, the link between option strategies and dynamic investment strategies, and the use of option signals in portfolio and risk management. The lecture suits final-year Bachelor’s and Master’s students with a knowledge of finance and financial economics.